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Tje FTX sh*tshow


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1 minute ago, Barry McCockinner said:

One positive to come from this mess is that the on chain metrics are showing a drastic shift in bitcoin moving off of exchanges. People are finally waking up to not your keys not your coins. I wonder how many exchanges sold coins they didn't own to people who just left them there and had nothing but an IOU.

Yes, they're moving their nothings off-line.  What a "positive"!

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10 minutes ago, Barry McCockinner said:

If you look at the historical chart of money supply you will not find anywhere that there is a steady downtrend unless you zoom in. They have consistently increased the supply over time. That's how they keep everything going. That's why prices always consistently increase over time. That's why we cannot store our wealth in the money and it is broken. It's not a store of value. Thankfully we now have perfect money with a max supply of 21 million and the option to opt out of the fiat scam.

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Did the price of gold go up 100x in the first decade of existence?

 

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14 minutes ago, Barry McCockinner said:

If you look at the historical chart of money supply you will not find anywhere that there is a steady downtrend unless you zoom in. They have consistently increased the supply over time. That's how they keep everything going. That's why prices always consistently increase over time. That's why we cannot store our wealth in the money and it is broken. It's not a store of value. Thankfully we now have perfect money with a max supply of 21 million and the option to opt out of the fiat scam.

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It's so reassuring to know that we have a limited supply of these completely worthless digital tokens.  This solves everything!

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15 minutes ago, Barry McCockinner said:

If you look at the historical chart of money supply you will not find anywhere that there is a steady downtrend unless you zoom in. They have consistently increased the supply over time. That's how they keep everything going. That's why prices always consistently increase over time. That's why we cannot store our wealth in the money and it is broken. It's not a store of value. Thankfully we now have perfect money with a max supply of 21 million and the option to opt out of the fiat scam.

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Imagine if you were an owner of bitcoin in 2012 a decade ago. 10mm were mined by then. 
 

I would spend as much money as I could to convince people that this was a store of value.  
 

the top few holders could spend a billion dollars with the right pr and celebrities to get people to buy the hype. 
 

those owners are slowly liquidating their holdings 

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1 hour ago, batman10023 said:

Imagine if you were an owner of bitcoin in 2012 a decade ago. 10mm were mined by then. 
 

I would spend as much money as I could to convince people that this was a store of value.  
 

the top few holders could spend a billion dollars with the right pr and celebrities to get people to buy the hype. 
 

those owners are slowly liquidating their holdings 

"Pump and dump"

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3 minutes ago, TuscanyTile2 said:

A chart showing a gigantic bubble talking about how it's not a bubble!  

"This time is different"

image.png.848a6419cb474a34af01911c0bf2889d.png

 

Btw, where is "Bitcoin at 69K" on that chart?

What would be different is if it wasn't just another 4 year bull/bear cycle. What's the same is the haters yelling bubble/dead the entire time. You've been wrong for over a decade. I'll bet you're right this time though.

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69k is the highest point in the top right of the chart.

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1 minute ago, Barry McCockinner said:

What would be different is if it wasn't just another 4 year bull/bear cycle. What's the same is the haters yelling bubble/dead the entire time. You've been wrong for over a decade. I'll bet you're right this time though.

69k is the highest point in the top right of the chart.

Is that right?  Interesting how the chart isn't to scale.  

And the housing bubble lasted for more than a decade.  And they managed to reinflate it after the 2008 crash.  It's going to be even worse next time.

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5 hours ago, batman10023 said:

His fraud was the original issue.  He then spent money to buy influence. 

I think it’s fair to speculate. FTX being the Trojan horse to usher in heavy regulation into crypto wouldn’t be too far fetched considering what has happened. And coming from someone who has no skin in the game here. 

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On 11/14/2022 at 9:13 PM, greenwave81 said:

But this 28 y.o. kid was donating like $100 million to politicians, with a loop around to Ukraine who we've been shoveling money to.  I fear he will not do well in jail.

You're presuming he goes to jail. He donated lots of money to people who can, and do make legal issues disappear. People who you can probably presume don't want him testifying on the stand about what they knew.

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