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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance


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52277016 No.52277016 [Reply] [Original]

>> No.52277067

>>52277016
Do people still believe the FTX FUD?

>> No.52277113

>>52277067
doesn't matter if it's true or not, what matters is whether or not people believe enough other people believe it. and it's pretty believable

>> No.52277142
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52277142

>>52277067
Do people still keep funds inside a CEX in 2022 instead of self-custody which is free from counterparty risks?

>> No.52277147

I believe it

>> No.52277175

>>52277113
All I see is a lot of people choosing to believe it just because they want it to be true. No facts.
Sam shilled Solana when it was $1. They have a SHIT TON of money right now. This FUD is likely their own propagation, in aims to somehow swindle more money out of retail.

>> No.52277194

>>52277175
or they got greedy and overconfident playing money games until it blew up in their face like all the other times thats happened over and over again throughout the history of capitalism

>> No.52277204

>>52277175
You've been posting this all day and it's kind of suspicious.

>> No.52277210

im not a communist btw just to clarify. you don't have to be to criticize capitalism. communism is worse obviously but that doesn't make capitalism above reproach when greedy fucks keep playing games and collapsing shit

>> No.52277218

>>52277194
yes but just like every time before it there's an opportunity for everyone else to profit at the big guys expense

>> No.52277236
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52277236

>>52277175
All I see is extremely gullible people who
>risk all their stash because mentally retarded and unable to perform a simple withdrawal and self-custody (this is true for any CEX, not just FTX)
>risk all their stash on a zero reward game where risk:reward=100:0
You should withdraw all your coins, it costs nothing and you avoid exposure
It doesn’t even fucking matter of FTX-Alameda is solvent or not, you should think for your own

>> No.52277250

>>52277204
>all day
I did post it in 1 other thread hours ago.
Have you been here all this time? lmao

>> No.52277428

>>52277113
why does it matter what people believe? all withdraws can be satisfied, so then a bunch of people took their coins off CEXs, cool, but a lot of people just panic sell the bottom because of fud, or transfer to even shittier exanges.

>> No.52277462

>>52277210
FTX and the crypto market in general today are not products of the free market. They are products of the debt market, which is controlled by central banks. None of this would be happening if big banks didn't have access to free fuck it money from CBs to loan out to companies like FTX with meme collateral.

>> No.52277472

>>52277428
>DO NOT REDEEM! SER YOU ARE SELLING THE BOTTOM SERS I BEG YOU DO NOT REDEEM

>> No.52277479
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52277479

>>52277428
>all withdraws can be satisfied
withdrawals above 250k aren’t getting through, I have one friend who is sweating blood since yesterday
By monitoring FTX-Alameda addresses lists it doesn’t look good at all, they are selling everything they have to cover withdrawals, meaning SBF is lying about user funds, they were indeed using them for other investments

>> No.52277576

>>52277175
either paid shill or the dumbest person to ever have posted on /biz/

>> No.52277602

>>52277175
let us have some fun anon, we just want to see him fail

>> No.52277607
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52277607

>>52277016
Unlike a stock broker, FTX is a technology company not a financial institution, it is your problem anon.
Crypto retards can't even read apparently.
>https://help.ftx.com/hc/en-us/article_attachments/9719619779348/FTX_Terms_of_Service.pdf

>> No.52277627

>>52277479
"Investments"

I hate this gay world bros. Billionares and the most powerful people alive are fucking morons. And here we are, cant even get past a 90 iq roastie HR shit testing us for a wage slave jobbie. How did it all go so wrong.

>> No.52277663
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52277663

>>52277607
Not my problem
Never trusted any CEX, never will

>> No.52277712
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52277712

>>52277607

>> No.52277735

>>52277627
so much wasted brainpower getting blocked by roastie gatekeepers and hr nonsense and overpriced degrees with fluffed up curriculums loaded with nonsense for a "well rounded education" of brainwashing social propaganda. i blame shakespeare, what a hack, just made up words and bullshit. in school i learned about the merchant of venice, anything of value i know is self taught.

>> No.52277769

>>52277712
>you shall bear all risk of loss of such digital assets
>at any time, subject to outages, downtime and other applicable policies, you may withdraw
i am going to assume that bankruptcy goes under other applicable policies. what does their terms say about bankruptcy?

>> No.52277811
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52277811

>>52277016
Not my problem

>> No.52277818

>>52277712
(A)
>Your crypto in our accounts are yours. If we lose them, you shall bear all risk of this loss.

(B)
>All yours not ours, we shall not loan it to ourselves. (but maybe to other users and we will benefit?)

(C)
>As long as we are in service, and if our self-written policies allow it, you are in control of what you own.

hmmm?

>> No.52277837

>>52277712
They're talking about market losses. The ToS clearly states that assets don't belong to them. It's not like a bank where your deposits are treated as a loan.

>> No.52277845

>>52277016
keeping your money on any exchange is beyond retarded, ftx or other

>> No.52277846

>>52277769
>>52277712
Crypto is marked to market at a value of $0.
When you send them money, it is a donation and you get "e-money" in return which is a digit in their database backed by nothing. In the case of bankruptcy or liquidation, you get $0 at all times.

>> No.52277849

>>52277837
Meant for >>52277769

>> No.52277866

>>52277845
Nah, USDC is the master race and binance isn't going anywhere. These pretenders poke their heads out, but all get slapped down with time

>> No.52277884

>>52277837
did you not see the coindesk report? they have like 8 billion in liabilitied. in the event of insolvency those creditors would get their money first and then everybody else. shit, just look at mtgox, celsius, coinbase terms or any other crypto exchange that went bust. why are you being so naive?

>> No.52277948

>>52277884
They don't have users' assets as collateral. Their own worthless assets would go to creditors.

>> No.52278051

>>52277627
Who's "we" faggot? Build your own store/company/whatever and work

>> No.52278297

>>52277866
>USDC
has several layers of counterparty risks (FED, Circle) and it can be frozen at smart contract level