/biz/ - Business & Finance

[Anonymous No.52361246]

You guys just don't understand. This time it's unironically different.

SBF and FTX were supposed to be the most pristine, low-risk investments in this entire space. The fact that they blew up like this (to LITERALLY zero) has completely annihilated any credibility that crypto might have built up over the past 10 years. ALL GONE.

In 2013, 2016, 2017, when we had crashes like this, there was always the hope of a bounce back because 'Institutional money is coming!'. Well, it came, and it all got fucking wiped out by a fat kike on meth.

Institutions are NEVER coming back to this space. Crypto has been completely discredited as a worthless ponzi scheme. It will go back to how it was pre-2017, just virgin neckbeards and losers trading their digital pokemon cards back and forth trying to scam each other. You can kiss goodbye to the liquidity and volume that came with institutional money. cos that's gone for good.

PS just wait till Gaylor gets liquidated, that'll be a funny day

[Anonymous No.52361266]

>>52361246
Wait until Tether gets delinked to the dollar; which I believe must happen at some point.

[Anonymous No.52361271]

>>52361246
and that's a good thing!

[Anonymous No.52361275]

>>52361246
OP you just don't understand. Every time a CEX goes belly up it just proves real crypto right

[Anonymous No.52361290]

Who gives a shit? I dont care about adoption. I don't care about the benefits of crypto. I'm here to make money. There will still be rallys. There will be pumps. I don't care if the pump is BTC going from $500 to $2k. If there's money to be made, people will be here. You delusional lolbertarians that thought BTC was going to usher in some new world order of finance need to fuck off forever now. I'm here to stack fiat.

[Anonymous No.52361303]

no that would have been if coinbase went bust
FTX always was a sketchy exchange that came out of nowhere overnight with millions out of nowhere buying sponsorships left and right

were gonna dump for a while and crab until 2024 halving

[Anonymous No.52361306]

Sorry newfag. Not your keys not your coins. Don't mess with leverage you will always lose it all

[Anonymous No.52361310]

>>52361246
Get a load of this mewling newfag.

[Anonymous No.52361324]

>zoomer company built in couple of years
> the most pristine, low-risk investments in this entire space
???

[Anonymous No.52361345]

>>52361246
Crypto is about owning bitcoin (limited resources), and services (currencies that let us escape the paypal jew, anonymous payments, decentralized databases, voting system that is more robust to corruption, assuming the people voting have not been duplicated somehow..)

If you think gambling shit is what crypto is about, you are missing why crypto got so huge to begin with. It was not because you can gamble money in crypto, it is because crypto has IMMENSE value as a tool.

If you don't think so, then go back to paypal and get permabanned because you said importing low IQ rapefugees may be a bad idea

Crypto is unironically a savior, libertarian-minded idea

[Anonymous No.52361349]

>>52361246
>SBF and FTX were supposed to be the most pristine, low-risk investments in this entire space
only morons were believing that
i kept repeating he was a fat jewish scammer, a kike rat, a filthy backstabbing rabbi
but you didn't listen

[Anonymous No.52361352]

>>52361266
tether isn't "linked" to the dollar in the first place. tether is a flat out scam, based on cryptokeks not understanding treasuries or commercial paper or really just bonds/credit in general.

[Anonymous No.52361356]

>>52361266
bro the world has known that tether is a scam since tether first printed tether and nobody fucking cared then and nobody cares now. the world is filled with fucking retards bro. bro.

[Anonymous No.52361371]

>>52361246
>this space
>literally

[Anonymous No.52361375]

>>52361246
FTX.US is also included in this bankrupcy, right?
What?, [11/11/2022 16:38]
[In reply to Michael Patton]
This fucker just yesterday said in his APOLOGY TWEET that FTX US "isn't affected by this shitshow"!
Isn't FTX US regulated and has Washington licensing, too? Did they sleep on the job?

[Anonymous No.52361377]

>>52361349
that's because if you think there's something better somewhere else in crypto, you aren't worth listening to.

[Anonymous No.52361390]

>>52361246
100%, but /biz/ will hold to Binance liquidating all of it's assets. CEXes, Defi, and crypto will be outlawed in USA and EU.

[Anonymous No.52361428]

>>52361246
>clownworld
>credibility
>pick one

[Anonymous No.52361479]

>>52361345
PURE COPE. crypto has proven it is next to worthless at those things, and those are exactly the rationalizations people have told themselves while overpaying for it, using margin, trying to day-trade, etc. thus joining in on the ponzi and creating a bubble.
"libertarians" do not all accept made-up funny money, it is explicitly rejected by austrian economics: https://www.youtube.com/watch?v=HAzExlEsIKk it is the epitome of the "five woods dollar" that civilization has no utility for.

[Anonymous No.52361510]

>>52361246
Crypto is here forever,
good luck trying to take down bitcorn etc.

[Anonymous No.52361517]

>>52361246
So many VC and hedge funds had invested billions with FTX, according to WSJ. It's incredible the lack of DD they did. Some firms like Andreesen-Horowitz is so far in the shit that I don't think they can afford to leave the space for good, though. They're losing a lot of money right now though. I think it's literally boomers that are incapable of seeing what crypto is, which is a ponzi scheme.

[Anonymous No.52361541]

https://twitter.com/tackettzane/status/1591047749675651072
have a good look at this thread, they suggested a token or bankruptcy, shows you the level if psychopathy and gambling addiction there.

[Anonymous No.52361550]

>>52361246
You are supposed to buy/sell tokens on CEXs - not hold them on there. We've told you this from day one. The function of an exchange is not to be a fucking custodian.
Buy your tokens, move them to a wallet and keep your keys secure. Problem solved!

[Anonymous No.52361576]

>>52361345
>nicholas cage aged well

[Anonymous No.52361590]

>>52361246
More likely just gets VCs excited about DEX projects and US regulated companies. VCs have insane risk appetite, dipshit. Nothing short of an total crypto ban would get them to ignore the space.

[Anonymous No.52361624]

>>52361246
>>52361266
yeah that's what im waiting for, i have $400k in normoid investments and i want to buy a shit ton of btc at sub 5k each

[Anonymous No.52361626]

>>52361479
>it is worthless to do anonymous interent transactions, free of censorship, and including with the ability to hide taxes from the government

You must be 18 years old at least to post on this website

[Anonymous No.52361634]

anyone who trusted all of their money to a ugly dysgenic looking heeb snake oilman literally named Bankman doesn't deserve to be in crypto or on /biz/

get rekt and fuck off normie FAGGOTS

[Anonymous No.52361644]

>>52361246
you're obviously a new fag. this type of practice exists in traditional finance. crypto and dlt can end these practices however, even if centralized exchanges continue to persist. constant real time audits in the form of proof of reserves.

[Anonymous No.52361649]

>>52361550
>but muh 6% staking rewards
There's a reason they're offering this usury and it's because your funds are not safu.

[Anonymous No.52361669]

An exchange imploding won't affect coins in the long run, totally different things.

[Anonymous No.52361671]

>>52361634
*snakeoil salesman, rather

[Anonymous No.52361684]

>>52361246
FTX were a bunch of newfags. If you're crypto OG and trusted newfags you have learned nothing.

[Anonymous No.52361708]

>>52361246
>most pristine, low-risk investments in this entire space
Not really, FTX was always seen as the high leverage place that appeals to gamblers.

[Anonymous No.52361731]

>>52361649
Exactly

[Anonymous No.52361754]

I don't care I'm on this boat for life. I'll sink with the ship if I have to.

[Anonymous No.52361757]

>>52361246
Liquidity; dedinition:
>1 btc = 1 btc
I don't see no fiat.

[Anonymous No.52361786]

>>52361246
Meh, fractional reserves aren't a thing in DeFi, you either have the coin or you don't, loans are over collateralized, bank runs are impossible - none of what happened is a crypto problem. It was a problem ported over from traditional finance by kikes.

[Anonymous No.52361806]

a series of 1pbtids shitting on the foundational principles of crypto.

kikes must be butthurt their little jew scheme got blown the fuck out and kikes are no longer welcome in crypto. boohoo kike. fuck off back to khazaria

[Anonymous No.52361874]

>>52361345
No amount of libertarianism can make it enjoyable to lose 90% of your net worth

[Anonymous No.52361948]

>>52361246
See you in 2025 for the next bull run, newfag

[Anonymous No.52361971]

>>52361290
Retarded fucking zoomer dork. People like you deserve to lose everything.

[Anonymous No.52362036]

who said FTX was safe?

a jewish CEO always smell crime

FTX bros got jewed hard, my antisemitism saved me a lot of money

HEIL COINBASE
HEIL KRAKEN

[Anonymous No.52362041]

>>52361290
>I'm here to stack fiat
did you get your booster this week also?

[Anonymous No.52362087]

>>52361246
Using my antisemite investment strategy I avoided all loss from this. It’s simple - never give a Jew your money for any reason

[Anonymous No.52362121]

>>52362036
Isnt CB a globohomo jew platform

[Anonymous No.52362157]

>>52361874
>bought bitcoin at 60k
>lost 90%
>oh nooo how could this happen

Meanwhile all those people who bought bitcoin at cents, at $1, $100, $1000, and now 1 bitcoin is worth SIXTEEN FUCKING THOUSAND U.S.A SCAM FIAT DOLLARS

this is the power of crypto, kneel chuds. And I will use monero to hide my taxes so help me God

[Anonymous No.52362161]

>>52361246
man we were all warned about this few days before it happened. but the dude said dont just get out of ftx but liquidate all crypto. i did and thank god i listened. saved me a bunch.

found the thread in archive here:
>>52270587

[Anonymous No.52362225]

>>52361479
You are too smart for the anon you are talking to, he probably has no idea what Austrian economics is or that they took over the lib party. There are plenty of midwit Mises folks who don’t read the theory and still support it though

[Anonymous No.52362289]

>>52361246
They'll be back. These institutional funds need big gains to stay afloat, and there are few to be had nowadays. Congress will enact 'sweeping changes' to cyrpto regulations and then some shills will deem the space safe again. But for now, you are correct.

[Anonymous No.52362332]

I'm a poor fag. I've made about 100k in crypto and it was fun, paid for some nice vacations, paid off my debt. It is what it is. I have like 10k in btc, Eth, and link. Maybe I'll just cash out and see what happens. I've been in this space since 2017 but this does feel different. Feels bad. On the other hand it might finally be the final push for a complete regulatory overhaul of this space. Blockchain tech is the future but realistically only a handful of coins have usecase. Blockchain isn't going anywhere, crypto might actually be finished.

[Anonymous No.52362560]

Shut up this is a dime a dozen CEX rugpull like the countless others over the years
Bitcoin will be fine, a new generation of bagholders will arise

[Anonymous No.52362666]

>>52361246

We got pretty damn far WITHOUT institutional investors and we can do it again.
1.5 / 2 years time after the next halving and a world economy that's in better shape and they'll come back.

[Anonymous No.52364439]

>>52361246
>Institutions are NEVER coming back to this space.
I'll be spending 2023 trading BTC out of my Fidelity account. Doesn't get much more "institutional" than that.
https://www.fidelity.com/crypto/overview

[Anonymous No.52364920]

>>52361246
>credibility that crypto might have built up over the past 10 years.

[Anonymous No.52365242]

>>52361306
I learnt the hardway with Celsius to always withdraw to a non-custodial wallet for full control and better still one integrated with a decentralised ID tool like ORE ID.

[Anonymous No.52365270]

>>52361246
>SBF and FTX were supposed to be the most pristine, low-risk investments in this entire space.
OK Shlomo

[Anonymous No.52365346]

>>52361290
Based. Reminds me of this.
https://youtu.be/23sxPh-hvrs

[Anonymous No.52365636]

>>52365242
whatever you get paid for shilling is way too much

[Anonymous No.52365651]

>>52361550
Well even moving from the CEX to a non-custodial wallet should be done via a privacy protocol like Railgun. It all boils down to privacy.

[Anonymous No.52365677]

>>52361246
>ou can kiss goodbye to the liquidity and volume that came with institutional money. cos that's gone for good.
And that is a good thing.
>Verification not required

[Anonymous No.52365704]

>>52361246
Crypto will unironically be back.

Our team is launching a CPU/GPU mineable (YescryptR16) Bitcoin Fork. It is ASIC resistant. It's our assumption that many former ETH miners may come to our network as we expand.

> This is a Coin, not a Token
> Launching in 11 Days
> Hundreds of Telegram Members
> Multiple Crypto Influencers from Different Platforms
> Native Coin Social Media in the Works
> All Socials Have Been Established
> Website in Development
> Small CEX Listings Pending
> Airdrops are Available to Those Who Contribute

Pic related, hop on TG

[Anonymous No.52365756]

Oh, my, would you look at the time!

[Anonymous No.52365766]

>>52365636
There's always that one kek that fails to listen to the good news until shit happens. Decentralized Identities and multichain access are your best option for full asset control.

[Anonymous No.52365832]

>>52361246
No one knows ftx and no one cares. If this happened in bullrun or early bear pople would care, but now its a nothing burger. Normies come back when markets go up and oldies dont giv a fuck about newfag cex

[Anonymous No.52365844]

>>52361246
bottom signal

[Anonymous No.52365907]

>>52361246

>This time it's different.

yea seen this 2014 and 2018. only newfags believe this retard. Its just purge that helps this space.

NO ONE WILL REMEMBER IN FEW MONTHS
it will just as Mt Gox which was 100x worse bcs btc was so tiny back then

[Anonymous No.52365953]

>>52361246
thats why you buy the coins not equity into a firm you faggot and keeping coins on there a lot of people constantly say not to, yes is some benefit by being able to swap but is a known thing

[Anonymous No.52365981]

>>52361246
>SBF and FTX were supposed to be the most pristine, low-risk investments in this entire space

Said the media campaign paid for by SBF. Anyone who'd been around more than a few years thought the whole thing was fucking weird and sketchy, how did he just pop up out of nowhere like that? You couldn't have paid me to go anywhere near that exchange.

[Anonymous No.52366074]

>>52361290
This but replace fiat with xrp

Bitcoin maxi's are the worst.

[Anonymous No.52366220]

>>52361345
>paypal jew
most of the people shitting on crypto have never been fucked over by paypal before
dealing with chargeback fraud is a massive pain in the ass

[Anonymous No.52366258]

>>52361246
>SBF and FTX were supposed to be the most pristine, low-risk investments in this entire space.
Coinbase is considered the lowest risk
They're where most normalfags convert to/from USD to USDC

[Anonymous No.52366447]

>>52361246
>bahamian coconut shell game, inc.
>pristine, low risk investment
You guys really don't investigate exchanges before using them huh
Do you even think about things like having no oversight (being incorporated in a cornrow and tourism nation) how the exchange offers leverage (by leveraging themselves) or the default risk (in margin and lending) or volatile collateral (by holding tons of an inadequately marketable token) or fucking anything?
Dudes name is LITERALLY bankman.

[Anonymous No.52366529]

>THE HECKIN SPACE

[Anonymous No.52366571]

>>52361290
>I dont care about adoption. I don't care about the benefits of crypto. I'm here to make money.

we know, thats why crypto is failing. because its nothing but a bunch of want to get rich quick faggots like you

[Anonymous No.52366606]

buy bitcoin

[Anonymous No.52366645]

nah. there was no real reason to use ftx, and fucking gensler made them more important than was ever wise, simply because of personal connections.

[Anonymous No.52366689]

I never even heard about ftx before this happened

[Anonymous No.52366723]

>>52361246
>SBF and FTX were supposed to be the most pristine, low-risk investments in this entire space.
They were outdated/redundant the second DEXes started to exist so the idea that they would operate like an irl business with irl expenses and irl legalese bullshit exposure while making more profit than some smartcontracts that did the same thing while being able to be duplicated over and over again is(was) silly.

[Anonymous No.52366827]

>>52366258
Coinbase will fall as well for much of the same reasons once businesses find they can implement a way for others to cash out for a profit.

[Anonymous No.52366863]

>>52361246
no I realize its dfifferent. That fucker did exactly what (((they))) wanted. Fucker set us back 5, shit maybe even 10 years

[Anonymous No.52366881]

>>52361246
Some fucking autist has to have the pic of SBF with some attractive Jewess standing in front of his server farm. We need it now more than ever anons. His cringe fucking facial expression was a priceless window into his empty soul.

[Anonymous No.52367349]

>>52366881
this bitch right here is the one in the picture I'm talking about. It was apparently scrubbed from the internet. https://www.prnewswire.com/news-releases/ftx-names-lauren-remington-platt-as-head-of-global-luxury-partnerships-301488139.html

[Anonymous No.52367367]

You are underestimating the greed of VCs and investors. When crypto hits rock bottom and QE resumes, the whole circus will happen again

[Anonymous No.52367752]

Reminder that QuadrigaCX and FTX were full KYC and regulator friendly exchanges that dramatically imploded. Meanwhile turbo shitcoin esoteric exchanges keep rolling on fine. Really makes you think.

Regulator friendly = old school corrupt degen wallstreet shit who are used to committing crimes nonstop and getting bailouts
"Shady" exchange = techbros who have never received a bailout in their lives and would never expect one

[Anonymous No.52367874]

>>52367349

[Anonymous No.52367938]

>>52362157
Where is thd next fucking shitcoin to be worth 16 thousand fiat ponzi kike dollars?

[Anonymous No.52367957]

>>52362332
Fuck off where is 100k poorfag money

[Anonymous No.52368047]

>>52366881
>>52367349
>>52367874
Close enough. It gets the point across.

[Anonymous No.52368250]

>>52361246
> Institutions are NEVER coming back to this space
Institutions just got a very convincing demonstration that Michael Saylor was right and if they want to invest in crypto they should follow his protocol - or even just invest via Saylor.
Saylor and El Slurpadore have not blown up from this, because they know what happens if you try to be clever. You buy your bitcoin spot (if with leverage, then by using raised capital, not with exchange conditions, and with very low leverage like Saylor) and you store them yourself.
If anything, institutions just saw proof that you CAN indeed invest in crypto as long as you do it the right way, since those who did are still in good shape.

[Anonymous No.52368798]

>>52368250
>good shape
They're taking a 20% hit from 2 weeks ago theres nothing "good" about it regardless if its temporary or not.

[Anonymous No.52368932]

>>52361345
get a load of this cope. Saylor said it best: the killer app of Bitcoin is getting rich.

[Anonymous No.52369061]

>>52368047

[Anonymous No.52369128]

>>52369061
As I search for pictures of Sam and Lauren Remington Platt, I've realized that all of the pictures of them together are from the same photoshoot ... I think they were only ever in the same room together once, and took pics from different angles and sitting on different chairs.