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FTX's failure had nothing to do with the fact that it was doing crypto

submitted by deleted to Crypto 1.4 yearsNov 16, 2022 05:43:28 ago (+11/-0)     (Crypto)

deleted


8 comments block


[ - ] usedoilanalysis 2 points 1.4 yearsNov 16, 2022 07:28:19 ago (+2/-0)

FTX was a ponzi scheme to rob money from people who believe in crypto.

[ - ] Jerd34 0 points 1.4 yearsNov 16, 2022 12:41:03 ago (+0/-0)

how will crypto ever be safe if we still need banks to get in the way? Sorry but I'm not buying it. If I can't hold it in my hand, it has no value. are we seriously doing this? we're gonna trade a failing fiat currency with something even more intangible? vulnerable? fuck this stupid clown world. let violence/choas commence and real men prevail.

[ - ] v0atmage 0 points 1.4 yearsNov 16, 2022 12:26:10 ago (+0/-0)

@x0x7 join the tlolocaust podcast tonight if you want to get into the weeds on this topic.

[ - ] x0x7 [op] 0 points 1.3 yearsNov 23, 2022 18:36:28 ago (+0/-0)

I should have joined you. To be honest I'm pretty bad at looking at mentions on this site. Are you guys doing an open invite show? I used to contributed to a show like that.

[ - ] v0atmage 0 points 1.3 yearsNov 23, 2022 19:01:03 ago (+0/-0)

Great- so you have some experience. Yes it's open invite. We only mute mics or kick people if their audio is awful or their takes are too cringe.

[ - ] Cantaloupe 0 points 1.4 yearsNov 16, 2022 12:22:24 ago (+0/-0)

FTX was a WEF scheme to introduce WEF controlled slave coin

[ - ] mikenigger 0 points 1.4 yearsNov 16, 2022 10:05:03 ago (+0/-0)

it had everything to do with crypto, it's the lack of regulation that allowed it to happen

[ - ] Glowbright 0 points 1.4 yearsNov 16, 2022 09:55:05 ago (+0/-0)

You are right. FTX's collapse was not because of the 'crypto' element of the business.

FTX was a cryptocurrency based ponzi scheme. 'Yield Harvesting' is literally a fancy made up word for 'pulling the profits out of the Ponzi scheme before it collapses.' You could do the exact same thing with any type of asset, it's just that in a more traditional market everyone would recognize the Ponzi scheme right away.