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Celcius, Voyager and now FTX!!!

EnhancedFatGrappler

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Aug 27, 2022
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Hope our sources are quickly moving their volatile Crypto assets into different more stable assets before it all crashes down. What a ride!
 

IV-GEAR

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Jun 26, 2019
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SBF is the eact reason why crypto will not ever be regarded as a major asset class until regulation comes.. everybody loves the unregulated crypto until stuff like this happens.. Mt gox, bitfinex, celsius , voyager etc.. now this. even coinbase as shitty as they are says that if they get a liquidity crunch you assets on thier exchange are gone..

SBF needs to go to prison for what he has done... i never used FTX becuase i never trusted this moppy haired clown.. same with that snake ( cant remember his name) from robinhood...

as much as regulation is bad... for something like this its needed.
 

paulallen

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SBF is the eact reason why crypto will not ever be regarded as a major asset class until regulation comes.. everybody loves the unregulated crypto until stuff like this happens.. Mt gox, bitfinex, celsius , voyager etc.. now this. even coinbase as shitty as they are says that if they get a liquidity crunch you assets on thier exchange are gone..

SBF needs to go to prison for what he has done... i never used FTX becuase i never trusted this moppy haired clown.. same with that snake ( cant remember his name) from robinhood...

as much as regulation is bad... for something like this its needed.
Agree, never trusted SBF... A weirdo liberal vegan who's the second largest democrat donor is the biggest red flag imaginable

Vlad (robinhood) same, pulled everything off there once they fucked everyone over with the meme stocks and DOGE last year
 

Ccook33

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SBF is the eact reason why crypto will not ever be regarded as a major asset class until regulation comes.. everybody loves the unregulated crypto until stuff like this happens.. Mt gox, bitfinex, celsius , voyager etc.. now this. even coinbase as shitty as they are says that if they get a liquidity crunch you assets on thier exchange are gone..

SBF needs to go to prison for what he has done... i never used FTX becuase i never trusted this moppy haired clown.. same with that snake ( cant remember his name) from robinhood...

as much as regulation is bad... for something like this its needed.
Sam is a fucking weirdo. I lost 6 figures in voyager unfortunately. (Well we will see what happens). Ten years of saving as a bartender down the drain. I’m a btc maxi/cold storage guy for life now I guess! 😂
 

buck

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I just figure Sam Bankman used Bernie Madoff as a role model.
 

Dot89051

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Sep 11, 2018
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I fell victim to voyager myself, my own fault for not getting out at the first sign of trouble. I’ve read a little about a few companies that buy your bankruptcy claims from you to more or less have it liquidated for even more of a discount than the buyout from FTX but give you the cash sooner. I’ve never heard of anything like this before but I’ve also never dealt with a bankruptcy. Was curious if anyone in here has ever encountered anything along the lines of trading/selling you bankruptcy claim and/or gone through with it.
 

Ccook33

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I fell victim to voyager myself, my own fault for not getting out at the first sign of trouble. I’ve read a little about a few companies that buy your bankruptcy claims from you to more or less have it liquidated for even more of a discount than the buyout from FTX but give you the cash sooner. I’ve never heard of anything like this before but I’ve also never dealt with a bankruptcy. Was curious if anyone in here has ever encountered anything along the lines of trading/selling you bankruptcy claim and/or gone through with it.
The remaining bidders (mostly referring to crosstower) wanted/wants to leave the app as is and keep it running. Instead of taking .05 on the dollar I’d hold out unless you had a shit ton of money and you really need the pennies they’re willing to give us. :(
 

paulallen

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Sam is a fucking weirdo. I lost 6 figures in voyager unfortunately. (Well we will see what happens). Ten years of saving as a bartender down the drain. I’m a btc maxi/cold storage guy for life now I guess! 😂
Awful. Voyager was a horrendous play in general... can't trust a coin that's been renamed and repackaged 3-4x over the years
 

hawkmoon

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I just opened my early access Fidelity crypto account now.
I have a crypto account with Coincheck here in Japan, but with FTX and the other exchange collapses I'm glad I have a safe option in the US now as well.
 

Pheedno

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Jul 3, 2005
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Gareth has been a go to of mine for info and judgement for quite a while. Here he does a quick rundown on possible similarities of FTX to Lehman Brothers back in the 2008 financial collapse.


 

Zarati

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Sam is a fucking weirdo. I lost 6 figures in voyager unfortunately. (Well we will see what happens). Ten years of saving as a bartender down the drain. I’m a btc maxi/cold storage guy for life now I guess! 😂
You're not the only one, there are many people who lost 6-7 figures in crypto.

One guy I know attempted suicide when his longs were liquidated because he thought Bitcoin was going to 250k. He went all in and lost it all. About 800k. He makes 120k a year as a software engineer so he still lives decently but that was all the money he had.
 

SL1CED

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Aug 6, 2010
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It'll pump and dump.

This time is different, this time isn't a crypto bear market like in 2018, the economy is collapsing. No real hedge funds are going to buy Bitcoin when there are stocks, real estate businesses available for sale. It'll only be market makers playing the game.

No real rich people are going to trust this type of asset after seeing it pump and dump like this.

And Bitcoin was supposed to be a hedge against inflation and recession, didn't work. Because it's tied to the dollar.

I think you're missing the point of it being a hedge against inflation. Would you say real estate is a hedge against inflation?

Hedge against inflation is not when inflation is growing, it's when policies force the growth(and that happens usually 6-18months after) so while that momentum is building it is. Ultimately, as the government(s) continue to debase currency via rates, policies, and tariffs(import/export primarily) the most finite backing worldwide means of currency will reign supreme. There's no way around it. China can ban it, but if they'd rather a sinking Zimbabwe dollar over it for their new semiconductor that they'll fill Africa with or Venezuela or Argentina when that move happens--good luck. When Turkey drops rates in the midst of 80%+ of inflation, you really need a finite currency that can serve as a global currency and a store of wealth. And that no one can touch(centralized exchanges can touch whatever, even US regulated ones can too). Yes, US is "safer", but there's lot of Ebays guys that run their account of PayPal i'm sure you'll hear some horrible stories from that. The US can regulate it for better or worse, and on this forum, if you're out here buying btc and swapping it for tren your account will be flagged eventually and they know who you are. So you tell me if US is "safer". Buy it on any centralized exchange once youve established a cold storage wallet, then transfer it. Don't hold any on any exchange, that you're willing to lose. FTX is probably the most popular of this, anyone whose been playing around in this field knows Mt.Gox. That was the real one.

The main bitcoin HODLERS haven't gotten a drop out of their wallet, and infact only have added to their wallet if you look at the on-chain data. You had the Enron of crypto happen and it's down 20%. It's a binary game it's going to 0 or it's going all the way up. I'm not sure what more momentum it needs to go down to 0. You have almost everything happening to it; 3AC, FTX, and now even Genesis are three of the absolute biggest momentum shifts. And it's still trading at 16+ when speculative stocks are down 60-80% stocks, 2 FAANGs are trending 70% ish or lower. This won't show any promise until two things happen; consumer sentiment comes up after some form of regulations are pressed & rates stop increasing and start de-escalating. Then good luck catching the bitcoin ride. When does that happen? I'd say closer to the election, but i dont know im speculating. Rates still have another 1-1.5% to go, get Fed Funds at 5% ish and around there BTC should theoretically drop a bit more, and not as much as real estate or equities will. But you don't know, it hung tight at 19-20 before Sam.
 

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