/biz/ - Business & Finance

Fortune favors the broke

Dude they burned 11 million dollars worth of CRO as a surprise announcement during the ama. Would they burn money if they were insolvent?

>>52427676
Aww, did somebody short the bottom?

Is this the bear's plan to get BTC below 10k?
lmao, 2 more weeks troon

>>52427705
Well, we all know how responsible crypto exchanges are with their cash.

>>52427705
>worth of CRO
Anon, I...

>>52427705
>Dude they burned 11 million dollars worth of CRO as a surprise announcement during the ama
Sounds like damage control.

>>52427676
i doubt we will see many more exchanges go bankrupt but as a consequence of not going bankrupt they will indeed dump a ton of their holdings. keep an eye on alts that were closely involved with exchanges. *hint* solana

>>52427713
Seriously. I longed the bottom and got paid 4% funding rates and closed this morning. OP is ngmi.

>>52427676
Post shorts or stfu. Until then no bump for you fag

>>52427676
>only fiat currencies stay on my aircraft

>>52427705
>Dude they burned 11 million dollars worth of CRO that they printed out of thin air before that

BASED

>>52427676
I still don't know what insolvent means? Does it mean they ran out of money or what? If it does than just say they are broke, stop with this insolvent kike speak niggers

>>52427796
>at least you can withdraw

>>52427676
/biz/ getting scammed again?
Who would ever expect that

Withdrew everything via ATM
lets go boyos

>>52427814
They ran of money AND assets
So nada, zero, zilch
It differs from a liquidity problem in the sense that no liquidity means you have no cash, but you can have assets that you can supposedly turn into cash

>>52427676
HahHaha
I just turned on CWN (clown world news) and saw this.

>>52427676
I remember for the past few YEARS I was telling everyone that crypto was a ponzi scheme, and everyone told me to shut the fuck up and to "STOP SPREADING FUD FAGGOT".
You reap what you sow, retards. Kek

>>52427705
>burn 0.53% of premined coins they own that drove the value from .05 to .08
>burn 0.53% of coins for 50% price increase
You're fucking retarded. People are fucking retarded.

>>52427866
I think there are legit companies in crypto, just 99.9% of them aren't and will go to 0.

>>52427940
there are way more legit companies than scams it's just that the scams get the most attention because they hurt the most number of people so they get amplified.

it's also not fair to say that a centralized exchange is the same as crypto.

that would be like saying robinhood is the stock market and if robinhood does something sketchy to its users then all the stock market is a ponzi. you can make the case that any investment is a ponzi but that's disingenuous.

>>52427705
>Dude they burned 11 million dollars worth of NOTHING as a surprise announcement during the ama.
ftfy,

CRO's value is zero, ZERO
11 million of zero IS ZERO

>>52427705
that was meant for their world cup bounce lol but they had to use it now to get their price up to 7 fucking cents lmao

>>52427866
>and everyone told me to shut the fuck up
You feally should

>>52427863
Wow just like they erased all evidence of their miracle of Sri Lankan farming techniques. How does an organization like that have so many website glitches?

>>52428086
yelling that everything is a scam is the only way some people find validation when 1 of those things fails or turns out to be a scam.

>>52428160
>1

>>52428086
>>52428160
I've been right about every scam that I've claimed was a scam. I've never claimed something was a "scam" when it turned out not to be.

>>52428254
>I remember for the past few YEARS I was telling everyone that "crypto was a ponzi scheme"

this implies all of crypto.

>>52428165
and yes, people who yell about "crypto is a scam" or "crypto is a ponzi" only need 1 to fail in order to feel validated.

im sure many more scams will be revealed, and many more will quit or crash etc. im not defending the scammers or the scams but crypto is a tool, it can be used for good or evil.

>>52428296
>only need 1 to fail in order to feel validated
Good thing we got way more than that this year alone
Crypto being unregulated will be a scam fest by default

>>52428331
regulations have nothing to do with it, FTX was one of the most influential in Washington pushing for regulatory oversight.

yes it's good people are being scammed so you can feel validated in perpetuate a false narrative about crypto and crypto regulations.

>>52427863
Feeling sleepy, should take a nap.
Yawn.

>>52428394
Oh ok then
Keep doing your thing
It's fun

>>52428405
you will own nothing. you will live in the pod. you will eat the bugs.

>>52428296
>>52428331
Safemoon - scam
Dogecoin - scam
Celsius - scam
FTX - scam
Nikola motors - scam
NFTs - scam
Ethereum DAO - scam (more like DOA, amiright??)
What's going to fail next?

>>52428426
Oh no
Please sir, sell me your incredible Generic Shitcoin #324873827 so I can put all my life savings there and finally, FINALLY, have financial freedom.

>>52428395
cringe. In response to this manipulation I have spread this information to 5 additional people. Good day

>>52427705

why would SBF offer 5 billion for twitter if his exchange was insolvent

it’s called “lying”

>>52427814
>I still don't know what insolvent means?
they are broke ass bitches

>>52428439
what's the ticker for Nikola Motors, can you find that on binance? oh it's on the Nasdaq, cool thanks.

>>52428395
I miss sleepy posting
You should go take a nap goyim

>>52428446
perfect logic. because saying that "no, crypto itself isn't a scam, people are scammers and misuse crypto". is the same as advocating for people putting their life's savings in a random shitcoin.

>>52428907
How much sir

>>52427676
Didn't CZ just do an AMA a few minutes ago?

>>52427705
>generate buy pressure so you have liquidity to sell into
>price goes up 6 cents
yeah that was a liquidity grab

>>52427705
an exchange token they created out of thin air?
Sure!

>>52428907
but crypto at its very core is a useless ponzi, including bitcoin
centralized, not anonymous, unscalable, inneficient
sure, dlt technology is kinda cool and it is possible that parts of this technology will be adopted in the future, but that has nothing to do with crypto as you know it, and even if dlt eventually gets adopted, it's going to take a full decade from today at the very least
but keep coping, it is very funny indeed

>>52428439
NFTs aren't necessarily a scam, they have some cool use cases.

>>52428838
A SCAM IS A SCAM NO MATTER HOW SMALL FAGGOT!

>>52429017
why do you think people keep saying that "we're still early", im not defending any coin in particular i could care less if 99.99% of all coins go to zero, but crypto is simply a tool, nothing more and nothing less. if that's cope then cool i guess.

Not many of you will remember what absolute shitshow was Monaco in 2017, the majestic crash it had and the only reason it was born that was to acquire the crypto.com domain and fake it until they make it.

>>52429106
>crypto is a scam
>posts something that's not a crypto

ok

>>52429160
>crypto is simply a tool
it's a so far useless innovation, not a tool
>if that's cope
it is

>>52429192
i wont argue semantics, the point stands, crypto has potential and saying "crypto is a scam" is simply an ignorant outburst.

pointing out facts is cope. good to know.

i guess you're all coping that you didn't make any money off crypto since you insisted for years it was a scam.

>>52429247
dlt has potential, not cryptocurrencies themselves
they are inherently worthless and useless

>tfw actually sold the top this time
Good! Maybe we could do Kraken next? Or maybe Kucoin? I'm enjoying this.

>>52429261
i haven't said anything about any individual coin the fact is that nobody knows, just like with the dotcom bubble, which (if any) of the current projects will ultimately succeed. but the same can be said about companies in the stock market, just because they say one thing on paper doesn't mean that they're not scams. they can claim all kinds of things and still run off with investor funds, it's been happening since the stock market has existed. scammers will scam no matter the system. crypto, at it's core gives individuals full controll over the crypto they own. being able to self-custody a potential store of value (again regardless of it's actual value in the marketplace) is a game changing "innovation". it's just being used by scammers at the moment like most new innovations. if a scammer can use it to scam they will, they did so with phones, tv ads, the internet etc.

>>52427676

>>52429347
>being able to self-custody
you can do that already without "crypto"
>a potential store of value
it's not a "potential store of value", it's worthless
your favorite shitcoins aren't "valuable" because you can store them in self-custody, they either offer some sort of "utility" OR they're acting as "digital gold" (btc only), in reality none of these tokens facilitate any meaningful utility and btc obviously is not a store of value
what is truly interesting about crypto is the underlying technology, the actual blockchain, and THAT DOES NOT NEED A TOKEN OR A COIN

>>52427676
>Imagine believing a word of that fagtinigay nigger kek

>>52429393
putting money/gold bars under your pillow isn't the same as self-custody in a crypto wallet that can't be hacked. you can memorize your seed phrase and store an infinite amount of crypto in that wallet, and yes of course im talking about the blockchain technology when i talk about self-custody and crypto, without the blockchain crypto is just a number on a sheet of paper. you're also using your own idea of what value is to make judgements about crypto as a whole. two people can value the same thing differently. value isn't something that's a universal constant.

>>52429487
crypto wallets can be hacked and if they are valuable in the future, will be hacked, you are beyond naive
>putting money/gold bars under your pillow
or having a safe either at your place or in a more secure location you deem proper
please do not confuse blockchain and crypto, they are not the same
blockchain is an innovation, crypto is a ponzi built on top of it

>>52429526
without the blockchain it's not crypto.

a proper crypto wallet is almost impossible to bypass/hack. you're naive if you think someone wont find your hidey hole if they really want to and it has something of value in it.

I hope

>>52429571
and you are naive if you think sha 256 or any form of cryptography at all is "unhackable"
>without the blockchain it's not crypto
huh?
one more time cause you're getting tiresome
blockchains, DO NOT NEED A TOKEN OR A COIN
IF this technology ever takes off, it will be in a form of private permissioned dlt network which will obviously not require a coin
as for self custody, that's what cbdc is for :)
have fun bagholding

>>52429627
imagine shilling a cbdc

have fun eating the bugs.

>>52429657
The PajeetCoin is not going to the moon, sorry brother

>>52429657
I won't fren, but you will :)
>shill cbdc
>implying this is a shitcoin you can buy
>implying this won't be mandatory
>implying you will even be in a position to make money from it
lol wtf

>>52428439
Nfts and Doge aren't scams

>>52429571
>you're naive if you think someone wont find your hidey hole if they really want to and it has something of value in it.
Wow, you've discovered the fact that risk is unavoidable in any investment. You're naive if you think you'll never lose/have your wallet stolen, or have all your hard drives break, or have the government declare it all illegal and raid your house for it. I know, I know, "But I have over 9000 wallets in various secure locations around the world and my seed phrase is literally unforgettable but also uncrackable and I've also been practicing non-KYC for my whole trading career and....." But again, no matter how secure you've made yourself, there are risks that could bypass your precautions. That's just how reality works. I feel pretty secure with my metals hidden around my properties. Sure, it's not perfectly secure, but even if you're right that crypto is safer, the difference between them is negligible.

>>52429657
Imagine shilling for Dotcom Bubble 2: This Time They Don't Even Try To Create Value.

>>52429784
it's much easier to find metals on your property than hack a wallet. if you assume the worst case scenario. it's also much easier to travel quickly with a wallet than a ton of metal.

there are also ways to spend crypto without going to an exchange. there are ways to sell coins for cash etc. governments already made owning gold illegal at one point and went around confiscating it. if it was just as easy to do with crypto they would've already done it but they know they can't physically force people to divulge their wallets without breaking tons of laws in the process. it's much easier to find ways to live with it than to actively go after it.

>>52428439
That’s a tiny fraction of crypto. Doge is not a scam retard.
>>52428331
>>52428405
>>52428446
>>52428925
>some jewish projects are scam so crypto is all scams I’m such a smart boy
you’re a 70 IQ narcissistic nigger who was told his whole life he’s a retard so he went online to get better about himself but wherever he goes even when he’s anonymous he’s still regularly called on being a low IQ midwit. kys
>>52429017
>>52429192
>useless innovation
>I have no idea what I’m talking about
>>52429261
>inherently worthless and useless
so I take you don’t use fiat either huh schlomo?
>>52429393
>zoomer doesn’t know what sending money globally was like before crypto
yeah enjoy paying fortune for PayPal and waiting hours faggot
>>52429526
>wallets can be hacked b- because they just can alright
we got an expert on crypto security here kek
>>52429627
>>52429672
>>52429797
>>52429683
back to r/buttcoin losers
>>52429784
>retard thinks crypto means nothing could ever potentially happen to your money even if you’re retarded and park it on a jewish exchange
The fact that this ridiculous idea even crossed your tiny brain shows how retarded you are. No one can take away your crypto from you unless you’re retarded. Not government, not thieves, not ex whore of a wife.
>ermagherd the jews will make everyone use their goybucks hahahaha
you will never have a soul npc

>>52430011
You’re talking to npcs. The things you mention require some intelligence and effort, they just want to get their welfare check and be told what to do like the goyim cattle they are.

>>52430091
typical knee jerk response of a crypto bagholder who drank a gallon of koolaid
>crypto is useless
>DURRR FIAT IS USELESS THE ECONOMY IS FAKE REEEEEEEE
nice rebuttal bro, this is literally the future of finance!
kek
>doge is not a scam, it's a MEME, big difference!

>>52427705
> worth of CRO
Worth of CRO is 0 you fucking retard
Did you also long LUNA when they burned a few trillions?

>>52430091
Based crypto quazillionaire
Just don't forget to never skip you meds, ok?

>>52427705
>Own the token
>Sent it to the burn address
>GUYS LOOK WE BURNT 11 MILLION DOLLARS OF OUR MONEY! WOW EVERYTHING IS FINE

yeah I don't think so

>>52427676
2 bitcoin? wow thats like 30k

>>52430181
I don't understand crypto bagholders. They keep saying they're holding until it moons to say 500k USD but there's the problem: they want to cash out into fiat. Every single time. WHY DO YOU WANT TO CASH OUT INTO USD OR WHATEVER LOCAL CURRENCY? Where's the parallel economy where BTC isn't going to cash out to USD at any point? Doesn't this defeat the purpose of a currency keeping away from the fake and gay globohomo money printer?

>>52430181
the problem is that the logic that's used to claim crypto is worthless can easily be applied to the economy and to stocks. you can't say that something has or doesn't have value and make it universal, value is subjective.

companies lie and fudge numbers all the fucking time and get away with it. that's why we're seeing so many layoffs now, because companies "grew" too much too quickly because of all the free government handouts. suddenly amazon has to lay off 10k employees, same for facebook and twitter etc. so if you want to make ignorant statements using flawed logic don't be surprised if that same logic is applied to whatever you believe is a better system.

it's actually not super complicated. crypto gives you self-custody of your money. if enough people agree that this has value then it has value.

>>52427705
>Would they burn money if they were insolvent?
>shitcoin they printed out of thin air
>money
Choose wisely

Kek, stop wasting your cash anon, just check Bspin

>Safe, secure Casino with a wide variety of provably fair Bitcoins games.
>On going giveaway with $15,000 prize pool
>Transparency And Provably Fair

>>52430011
>they can't physically force people to divulge their wallets without breaking tons of laws
It's 2022 and you still believe they follow the law? They follow the law so long as it doesn't break their shell game of shuffling fake numbers around, or use it to leverage an advantage over you. The law isn't stopping them. The game is.
Btw you just lost the game.

>>52430181
>claims crypto is useless
>keeps investing in even more useless fiat that doesn’t even have cutting edge tech
it’s called consistency midwit
>can’t differentiate between scams and memes
like I said, midwit
>>52430257
>no argument
>m- meds
unlucky for you there are no meds for being a soul less npc

>>52430289
>crypto gives you self-custody of your money.
No, it gives you self-custody of what is essentially a digital certificate saying you have X amount of an imaginary coin that can be converted to USD because everybody around you trusts it to be so and inertia is a bitch to stop.

>>52430360
LMAO I love you guys so much

>>52430286
cashing into a stable currency is simply to avoid volatility. it has nothing to do with whatever the stable currency is and it's also not a permanent situation, you cash out, avoid volatility then buy back at a lower price.

eventually volatility will subside enough that most people will stay in bitcoin for the most part but we're at year 13 of bitcoin vs. year 230+ of stocks and the stock markets. so it will take some time for there to be enough stability. meanwhile people will use whatever the most stable currency is. some don't even cash to fiat and instead cash into gold, another good idea if you don't trust fiat.

Lul, you're stupid af! Try Bspin. its easy even for you.
>Online Casino with BTC main currency.
>Players deposit, play and withdraw Bitcoin without any additional conversion.
>Many different deposit methods

>>52430286
>retain and multiple wealth by using an alternative to fiat that can’t be manipulated as hoc (not talking about shitcoins)
which part is difficult for you?
>>52430337
that’s the whole point, the tech stops them no matter the law retard
>inb4 quantum computers

>>52430367
Blockchain is not imaginary number, you’re obviously butthurt over crypto masquerading your seething with cringe cynicism. You don’t have a soul, you are a trash human with no friends, you have no clue what you’re talking about, consider suicide since no one wants you here anyway.
>>52430369
>you guys
>>>/reddit/ nigger

>>52430457
Please continue

>>52427676
Withdrawals work just fine. Nobody believes this FUD any more, try another.

>>52430375
>some don't even cash to fiat and instead cash into gold, another good idea if you don't trust fiat.
The only good part, going from an imaginary asset based on hopes and dreams and maybe trust, to a hard physical asset that will never betray you so long as you live. You can even use a gold brick to brain offending bankers your way.

>>52430408
That post claimed that they can't get people to give up their wallets due to laws. Now you add to that by claiming technology stops them no matter the law. What if they pull a Canada and say unless you give up your wallet you lose all privileges of a human being? Doesn't this mean the laws meant to protect you are essentially useless?

Also how are you going to deal with sustained power outages or a potential deglobalisation of the entire financial network.

Crypto is supposed to make everyone their own banker and SAVE THEIR MONEY. But reality is showing almost everyone's treating it to get rich quick.

>>52430457
>Blockchain is not imaginary number,
I didn't say an imaginary number. I said an imaginary COIN. Read nigger. It's not a real object you can physically hold in your hands. A usb stick with your wallet in it from 1999 doesn't count. In case you can't tell yet, I trust physical assets over paper and digital no matter how much they supposedly fluctuate in (((value))).
>oy vey goy your uranium in a thermos is only worth 3.50 USD sell it to me there are starving Israelis that need power

>>52430478
Oh no sweaty

>>52428439
>Dogecoin -
*Joke

>>52430875
yes, delayed. They go through eventually.

>>52427703
what software is used to make this?

>>52431642
stable diffusion
easiest install in my experience https://github.com/AUTOMATIC1111/stable-diffusion-webui

>>52427814
now this is an anon who is ngmi

>>52427703
CARLOS GET OUT

>>52429106
The Nasdaq is a scam then, got it.

>>52431431
>investigating
>monitoring
doesn't sound like too many are going through right now bro. very cohencidental timing indeed.

The face of confidence?

>>52427814
It's what happens when the wife take over the household finances.

Stop fudding CDC, many of us need that fucking debit card.

Use Bspin BEST crypto online casino

>Strong casino with a BTC as the playing currency
>On going giveaway with $15,000 prize pool.
>Level & Rewards / Increased cashback / Exclusive promotions.

>>52430669
>oy vey goy your uranium in a thermos is only worth 3.50 USD sell it to me there are starving Israelis that need power
Fucking KEK

I'm feeling a bit sweaty bros. It's been 24 hours for me and my BTC is still queued. inb4 not your keys not your crypto hurr durr. I mean how am I supposed to trade?

>>52427722

>>52427676
Non custodial wallets are safer in times like this. Waiting for a withdrawal to be processed for 26hours is a terrible signal

>>52427705

>"Would they do <insert thing here> if they were insolvent!?"

Yes. They would say and do anything any time up to the fucking second they file for bankruptcy.

>>52433199
>Based Kenny vs. Spenny watcher

>>52428395

>buy when there's blood in the streets
If you're not taking advantage of this amazing buying opportunity then you're not going to make it.

>>52438560

Hahahahahahahahahahaha

>sees memes on biz and reddit
>hurrrrrr buy when there's blood in the streets
>this is the bottom
>once in a lifetime opportunity

Dude you're going to get wiped out.

Any idiot who genuinely thinks cdc is going to survive will get what's coming to them. The majority of pleb tier exchanges and operations like cdc don't have anywhere near enough liquidity to weather the storm.

But hey keep your money staked on cdc finance guru.

Also if you think this current situation is "blood in the streets" I've got a bridge to sell you.

glad i transferred my funds to bybit before it was too late, and even learned that its one of the main contributors to bitDAO's treasury that's being used to fund innovative projects that will take over the market in the coming years

>>52439022
cold storage

>>52439355
The exchanges are going to crash Crypto with no survivors, you can't even mumble some shit about "muh technologies" while the whole thing keeps imploding in massive scams-of-the-week.

Institutionals will bail, hoping to beat the whales out, then you will have enough monies for a cup of coffee in cold storage. Do be nice and hodl so everyone else can parachute from the burning plane though.
>>52437975

>>52439022
for fear of a bank run you withdrew your money... to another bank

>>52427851
Most probabley all their “assets” are cro token good luck finding some one to unload those bags

>>52438560
based retard, ygmi (not from cro though lmao)

>>52427676
Wait until these losers with their ad revenue and gambling twitches start using Android phones browsing duckduckgo. A Sunday cartoon-like parody of the dwindling "middleclass" in millennial form. Even the boomers can't wait to see these scam artist nobodies lose everything

>>52427676
People keep 2 BTC on a CEX? Why?

>>52427705
Oh my god.

>>52429101
Tell mw you fell for the nft scams without telling me you fell for the nft scam

>>52438560
OH NO… LMAO OOOOOOOHHHH NOOOOO
>newfags forget about the MCO to CRO swap

>>52427703
Oh, Carlo... Wait that's a volcano

>>52438560
>buys CRO
you were so close

>>52427676
i thought i withdrew late (on sunday night) but i managed to get my crypto out in time lol

>>52427703
Volcarlos!

>>52427866
Shut the fuck up you retard faggot dumb piece of shit

>>52430286
that use case is for when the US goes full Argentina.
>the real funny shit will be when gold baggers need to buy something from bitcoin holders in the wasteland.

>>52428037
>it's also not fair to say that a centralized exchange is the same as crypto.
Lets be real, cexes are no different than a bank and people are fucking psychotic if they genuinely believe that them using user funds to invest is some new criminal thing banks do the same shit and would never be able to pay out every one of their customers if they decided to withdraw
The only difference without the government getting involved when the exchanges go down there's no bailout and it goes down, period.
Give and take, I'd rather have it this way than let the kikes have full control

Aww man, my guys missed the chance!
https://finance.yahoo.com/news/robinhood-plunges-bankman-fried-ftx-190552180.html

>>52427676
Yes, exactly. This is the purge that we were all talking about months ago, watch as only the real projects like $HOLO and #ONT survive

>>52440150
Who the hell is running the bitcoin network (ie, running miners) in the wasteland?

>>52427676
all of them are insolvent. it's just a matter of which ones fail without government intervention.

If it gets too bad, this is the beginning of central bank insolvency as well.

>>52427814
It means they can't pay their bills (salaries, interest on loans etc.).
It does not necessarily mean they have no money.

>>52430574
>What if they pull a Canada and say unless you give up your wallet you lose all privileges of a human being?
They can get angry and jail you. They still can't take your crypto.