How about you give me a dollar and I will give you back .72 cents. And you give me a $5.00 bill and i'll give you back $3.60I can’t think of any more volatile investment. If you are a gambler and can absorb the loss, you can give it a try. I’d rather play a scratch off lottery ticket myself.
The lottery is a tax, on people who are bad at math.How about you give me a dollar and I will give you back .72 cents. And you give me a $5.00 bill and i'll give you back $3.60
When I have won $96.00 I will give you back
$10.00
We can do it alldayweek.
Going...going.....13th exchange in the last two years to prevent withdraws. The only one of the 13 to not be insolvent(yet,it may be tomorrow).
Crypto exchange FTX saw $6 billion in withdrawals in 72 hours -CEO message to staff By Reuters
Crypto exchange FTX saw $6 billion in withdrawals in 72 hours -CEO message to staffwww.investing.com
...and gone. The stock crossed to a new low(now has had trading suspended). "investors" and people with any coin parked there likely will not be seeing anything soon if ever(something I have warned about since 2013 on this site,never trust exchanges should be a rule for anyone playing the game,you will lose). Maybe in a couple years after the government investigations end(the trigger for all of this) and possibly a restructure(doubtful it is to broken) maybe someone comes out of this partially redeemed,but most left are bag holders and will get about as much as enron employees did.Going...going.....
ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zerowww.zerohedge.com
This comment on Zerohedge sums it up.
"Money doesn't go into or out of bitcoin. it is a zero sum Ponzi scheme. its 'price' is just a measure of how much wealth one wants to transfer to another person already playing in the game. when no one wants to play anymore its price will be zero. and you can't hang it on your wall, or feed your dog with it, or put it in a vase. it is the largest most extraordinary game of financial chicken the world has ever seen. the idea that there always will be a price greater than zero because it somehow has some intrinsic value is just wrong. so when the price of bitcoin goes to zero there will be no tidal wave of money coming out. it will just be a recognition that the wealth transfer is over and the folks holding the bag have nothing and it will not affect those already out of the game in the least. they will have already won.
of course all the people playing the game or trying to be compensated for facilitating the game will create any sort of mechanism to promote the game. but that misses the point. the fundamental transaction is a transfer of wealth from someone not in the game to someone that is. all that transaction does is transfer some amount of real wealth from a non-player to a player so that the non-player is now a player and the previous player is out of the game. how much wealth was transferred to play is the price."
That does not even mention how digital coins have almost no security against something like a quantum computer.
Sometimes…. I wish I were smart enough to figure out how to get rich milking one of these scams.
Sometimes…. I wish I were smart enough to figure out how to get rich milking one of these scams.
FTX Appears to Be a Political Ponzi Scheme Running Dollars to Politicians and Through Ukraine | The Gateway Pundit | by Joe Hoft
The FTX collapse is just another day in the life of Democrat and RINO corruption in the US. This scandal involves Ukraine as well. As mentioned previously, the FTX crypto company gave at least $40 million to Democrat candidates and causes in the midterms.www.thegatewaypundit.com
I seriously doubt the number 2 democrat donor will face justice.
ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zerowww.zerohedge.com