NFTs have hit the floor. Most will be zero soon. I should have recognized in June of 2021 that that was the top when people were making a living off of trading NFTs of apes. Bad week for crypto, unbelievable week for equities and bonds.
Crypto
- Thread starter dafarmer
- Start date
and you thought you had a bad week. On Monday you are worth 16 billion and today its 0..
https://www.cnn.com/2022/11/11/business/sbf-wealth/index.html
https://www.cnn.com/2022/11/11/business/sbf-wealth/index.html
It's crazy. The exchanges of crypto are really ruining the business of crypto. Glad my exposure is pretty low.
I’ve turned my free $15 in bitcoin from a super bowl commercial into $32 worth of a bunch of other fake monies. So we have that.
Bitcoin may be finite but the overall crypto market isn't, so I'm not sure you can really look at it that way.
Cyclonepride
Thought Police
If I'm invested in gold, do I care what happens to market for corn? Sure, there are some swings in the overall sector due to instability in other currencies, but I think that particular one is set up for long term success.
If you are investing in gold, it is a part of the precious metals market. Investors in gold, silver, and platinum are all looking for something similar. And we can't just wave our magic wand and create a new precious metal.
Bitcoin is one option in a pool of crypto options for crypto investors. However, there is practically an unlimited amount of crypto. A couple developers can go out and create a new coin whenever they want. A specific coin can be limited, but there is really no barrier to infinite expansion of the crypto market overall.
At least tulips were something tangible.
This can be yours,.....but only for $21M in Benjamin's.
DM me,...I'll get you the deet's.
Well that's a bad week, hope he has a 100 million or so salted away in cash, that could still be a good life. I learned a long time ago that rich people go broke different than poor folk. Delorean of the car company (back to the future movie car) declared bankruptcy while in Vail/Aspen over Christmas one yr.
Heat ending arena deal with FTX Arena after cryptocurrency company's collapse
FTX Arena is no more.
FTX arena is the first to fall!!!
Such a waste that they have to build a new one already.
Heat ending arena deal with FTX Arena after cryptocurrency company's collapse
FTX Arena is no more.sports.yahoo.com
FTX arena is the first to fall!!!
/s
Miami Heat to cut ties with bankrupt FTX, rename arena
The Miami Heat have decided to terminate their relationship with the cryptocurrency exchange FTX, which filed for bankruptcy Friday.
Miami Heat to cut ties with bankrupt FTX, rename arena
The Miami Heat have decided to terminate their relationship with the cryptocurrency exchange FTX, which filed for bankruptcy Friday.www.espn.com
Lol.
Found more general information about it's effects in the sports world here:
Crypto only gained "value" when criminals began using it and accepting it as currency. It really took off when it's rise became known to the masses and a stock market variation of group think took hold. "Everyone is telling me this is the next biggest thing, so it IS the next biggest thing".
The problem was the currency was poorly regulated, which made these transactions possible, and that was never going to last. Once governments started to regulate the momentum began to slow. Then the infrastructure issues, as in the lack of RELIABLE internal oversight on crypto, began to take hold. Many of the key holders were greedy people who made highly leveraged behind the scene deals. Only when the unraveling took hold did the scale of these deals come to light.
I never understood the crypto valuations as these shortcomings were ALWAYS known. Not to mention, there was/is nothing stopping governments from creating their own electronic currency. Crypto was always destined to fail.
The problem was the currency was poorly regulated, which made these transactions possible, and that was never going to last. Once governments started to regulate the momentum began to slow. Then the infrastructure issues, as in the lack of RELIABLE internal oversight on crypto, began to take hold. Many of the key holders were greedy people who made highly leveraged behind the scene deals. Only when the unraveling took hold did the scale of these deals come to light.
I never understood the crypto valuations as these shortcomings were ALWAYS known. Not to mention, there was/is nothing stopping governments from creating their own electronic currency. Crypto was always destined to fail.
I hear what you're saying about crypto. It definitely has had its ups and downs, and there have been a lot of challenges along the way. But, like anything else, it's important to educate yourself and make informed decisions.Have you ever tried trading crypto using a robot? I came across a post recently that explained how these trading bots work. Just check out how does robot trading work. It's pretty interesting stuff. Basically, they use algorithms and artificial intelligence to make trades based on market trends and data. Some people swear by them, while others are more skeptical
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