/biz/ - Business & Finance

>>52319431
Imagine using lagging news, KYS faggot bear loser.

>>52319431
lol its actually 2018 all over again

>>52319454
Show your bags

>>52319431
They just killed thousands of people with that decision
FUCK YOU CHINK

>>52319480
It’s story time.
Tell me about 2018, I wasn’t into crypto back then.
Once upon a time…

>>52319431
Based

>>52319431
what a time to be alive...

>>52319431
FTX = FUX

>>52319530
look up mt gox bro i got one hand on my phone and another scracthing my balls im not typing a fucking paragraph lmao

How low are we going?
How many big bois had some funds on FTX?

>>52319530
...a bunch of autists discussed one token to death and bought up a significant amount of the supply. 5 years later the powers that be relentlessly threw black swans at the market to attempt to get them to sell it.

>>52319431

>>52319431
priced in 20K EOW CHECKEM

>>52319530
Once upon a time Anon discovered /biz/ but saw all the meme coins being shilled and immediately thought it was all a scam until he heard from a Ghost to invest in Crypto in late 2016. Come 2018 Anon was a full fledged /biz/let high in euphoria after reaching a new paradigm and then the contraction happened which turned Anon pink.

Fast forward today Anon continues to hold heavy bags, recounts the moment he turned pink and rues the day he listen to the Ghost.

NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

based chink

it was too good to be true anyway.. Back to waging I go

>>52319431

>>52319431

Welp, crypo markets are fucked now.

Coworkers are smirking smugly at me and asking when I'm going to quit this job with my "millions" now

>>52319530
literally nothing like it, back then we had one mid sized ponzi (bitconnect) go bust and much earlier there was MtGox which was tiny as well compared to what we have now. We have VCs bankrupt, DeFi completely rugged, stablecoins nuked, exchanges bust, companies like MSTR dead, investment funds insolvent, miners unprofitable and bankrupt. It's on a whole other fucking level, we are at 16k... we are back at 2017 levels but with 100x the liabilities

Brutal

>>52319955
FTX users are now fubar, lucky to get 10% back

>>52319579
> i got one hand on my phone and another scracthing my balls
Kek. Rhymes are good.
>>52319595
This is a scary one. How does it end?
>>52319713
This is the best one so far. The one I’ll tell my grandkids.
>>52319943
Too much info in this one. I’m not gonna recall all these convoluted names and interactions.

>>52319891
You're a retard if anyone knows about your bags.

>>52319955
looks like a pajeet wrote that

>>52320010
Wasn't there about $10 billion customer deposits at FTX? Is that a correct number, anyone know?

>>52319431

>>52319431
I can't trust anything the boomer news says.
I have to see these statements directly just to figure out what is actually being said

>>52320079
https://twitter.com/binance/status/1590449161069268992

>>52319454
loving all this commotion and frenzy, endless words typed and transmitted, over pretend internet money

Delicious

>>52320062
I don't think they openly shared that information but coinbase has 95 billion of user funds and FTX should be only slightly smaller than coinbase. Less than 1 billion is left now apparently, there could be a 90 billion dollar hole here

Nothing personal, kiddo

>>52319955

Yikes. Basically confirms they were playing fast and loose with customer funds like Celsius was.

>>52320145
holy shit this is completely fucked. i had no idea these bastards shit the bed this hard

>>52319955
Typing Like This Makes Your Image Gooder. Sirs I Cannot Redeem.

All eyes on crypto now thanks to the Jew faggot SBF: https://www.theblock.co/post/184999/gensler-says-ftx-collapse-is-part-of-a-pattern-in-crypto-markets?utm_source=twitter&utm_medium=social

>>52320335
well, you gotta purge crypto before rolling out cbdc

>>52319955
This is what happens when you try to do business with the chinese.
No one is talking about that part.

KEK

HELLO AND GOODNIGHT

>>52319955
"outliers that misuse user funds will be weeded out by the free market"?
>regulation? no, you don't want government intervention
>much better to just let companies fuck you over and then go out of business, it's how the market should work
>trust the invisible hand

>>52319480
Ofc it is. Don't tell me that you fell for the "this time is different" narratives right?

>>52319431
NOOOO MR BEAST MIGHT LOSE SUBS BECAUSE HIS NEW JEET PUMP AND DUMP FAILED AND EVERYONE WILL FORGET IN 3 DAYS BECAUSE EVERYONE APED IN AT 15K NOOO

>>52319581
1k-5k is my prediction for this bear market (2023)
late 2024 or early 2025 will be the end of the crab market.

>>52319530
Once upon a time in a place just like this an anon just like you was hearing about something called 'Bitcoin'. He brushed it off and went about his days doing what anons do but time and time again he heard about this Bitcoin thing. No matter where he went, he couldn't get away from it and the stories about how much money people were making. He learned a little here and a little there and passed it off as just a fad, a hoax, a ponzi scheme! "It's not worth anything at all", he told himself, assuredly.
But try as anon might, he couldn't get away from this Bitcoin thing and it seemed like the price just kept going higher and higher and all his friends were making so much money. "How could this be?", anon asked himself as he began to lose confidence in himself and his abilities. "I'm... I'm the smartest boy at school and I'm certainly smarter than all my friends. How could it be that they're making money and I'm not?". Anon had decided that enough was enough and in the month of December in the year 2017 Anon put all the money he had, and even some that he borrowed into Bitcoin.
Shortly after, the price started going down, and it didn't stop at all. There were bounces, and rallies, and signs of good times but anon feverishly held on asserting that the price would soon climb.
But the price kept going down and the price went down fast and Anon owed money that he couldn't pay back...

How is it so fucking hard to run an exchange that you go bankrupt? Walk me through it I just don't get it.

>>52319581
I refuse anyone on this site used ftx unless they were recently linked to this board by reddit jeets to shill

>>52320745
tl;dr doing mongoloid degenerate shit with user funds

>>52320306
We don't really know though. Just know that it should be in the tens of billions

>>52320745
Just let your chipmunk drug addicted girlfriend gamble with the customers money and w'allah it's all gone

>>52320745
By doing it on purpose and walking away with FTX sales.

>>52320747
i've been in crypto since 2017 and i have 1/2 my holdings stuck on FTX.

>>52319431
CZChad, crashing crypto with no survivors

>>52320912
srry bro

>>52320745
they just reinvented the modern bank before any regulations or oversight

>>52321040
sucks but it's all in the game. i got fucked by Cryptopia too... lmao, glad i have nobody depending on me

>>52320740
Well done anon. Nice story structure. It contains one of the two key moments: the inciting incident. It’s missing the climax.The inciting incident turns the protagonist's life upside down and the climax (the sequel of your story, set in 2021)should set your protagonist right-side up again.

>>52319431
DISTchads literally can't stop winning!

>>52320912
hopefully you've learned your lesson about storing crypto. sorry for your loss.

>>52319431
You have to hand it to CZ, he played a masterstroke with this one.

>>52319955
>WEEDED OUT
AAAAAAM

>>52320745
Imagine you are a 20-something autist who narrowly escaped life in the basement and people willingly give you billions of dollars for magic internet money so you push to see just how stupid they are and one day someone not stupid asks why so the whole thing falls apart. He wasn't the stupid one retail was

>>52319431
>>52319454
Tu India me baitha hai kya ?

>>52320912
>stuck on FTX
Correction: you have 1/2 of your holdings gone

>>52319530
We had LUNA, Celsius, Bancor and FTX
Back in 2017, it was Mt. Gox and BitConnect being toppled to result in a 3 year long Crypto Winter.
Prepare yourself faggot, there won't be another golden bull run for another few years, we're in the crux of another, much longer Crypto Winter

>>52320696
You do realize CBDC’s are getting rolled out this February? It’s literally over for the shitcoin market.

>>52320335
>part of a pattern

>>52322371
Mt gox was 2014

>>52319431
How come this didn’t make Bianance coins go up?
They are tanking as hard as anything else.

>>52320745
SBF owned both FTX (exchange) and Alameda (hedge fund). It looks like he took users money from the exchange and borrowed it to his own hedge fund and then gambled with it. All while sitting smugly in Washington arguing for more regulation

>>52323369
market will always follow bitcoin. so thats why you diverse into investments where you won't lose as high of a percentage in a crash.