The Crapto Thread

Lol bitcoin is the “good” Crapto and it’s down 70% from a year ago.

I don’t think it’s a coincidence me and @suzzer99 are the forum olds and we saw this coming a mile away, it checked every single box.

1 Like

Link? I don’t remember you or suzzer making predictions about FTX collapsing. I think I remember goofyballer and maybe a couple other people thinking Binance was shady.

I vaguely recall RM taking a victory lap when BTC went from 200$ to 100$ some years back :thinking:

1 Like

BTC mining rewards get cut in half every 4 yrs ish, this sets up a cycle that so far has played out everytime this way…

      1. Rewards are cut in half
      2. Approx 1 year later new ATH
      3. Approx 1 yr later, new low before next ATH.
      4. Approx 2 yrs later rewards are cut in half

If you guessed we are at step 3 in this cycle , you are a winner.

That’s it’s down 70% should surprise no one really

Crypto bros taking a victory lap sure is something. Somewhere in the world there’s a dude convinced beanie babies will come back

The ultimate bet/absolute accounts were repaid in full with unclaimed money that DoJ had left over from the Full Tilt reimbursement funded by Pokerstars. If Pokerstars had not stepped in, Full Tilt and Ultimate Bet accounts would have received nothing.

2 Likes

Tether is 17bps off the peg… :popcorn:

1 Like

Not positive but I think FTX US actually had to back funds and those users might be ok.

Am I wrong or did all of these now defunct exchanges provide loans to one another to back customer finances like the banks in 2008? Values are plummeting and causing a systemic collapse.

https://twitter.com/gainzy222/status/1590473641841807360?s=46&t=dycZrP690o6TlFVJBYV6bQ

From “revolutionize finance” to “where’s my bailout” in record time

8 Likes

The problem is the previous bailout entities were FTX and Binance.

https://twitter.com/InternetHippo/status/1391259649177882626

6 Likes

This is yet another feather in the cap of my “Crypto is just 21st Century Wildcat Banking” theory

I prefer “libertarians learn why banking regulation exists.”

2 Likes

i don’t have your coins here! it’s in bill’s ape a-a-and fred’s ape!

Speak of the devil……

Gotta pay 3/30 for the kind of diligence the funds shoveling money at this fucking thing did.

https://twitter.com/NicTrades/status/1590482515403624448?s=20&t=4oAaAd_7qYRcsvk5pGZWTA

3 Likes

Looks like Mr Bax was on the case

https://mobile.twitter.com/johnnybaxpoker/status/1530326294126370818

1 Like

Yeah slight omission gee that’s odd.

Yes I know we didn’t specifically call out every current and future conceivable crypto project by name, as you are so gracious to point out any time anyone mentions that crypto might be a bubble.

Next goofy will tell me crypto is like the internet, which no one got at first either. Then Wichita will call me a cretin for owning cruise stonks. And finally BJ will post some authoritarian nonsense that triggers me to no end.

Oh yeah and some random will scream at me to stop bringing up tulips.

The price of bitcoin was able to take off when trump became prez. It was 900 then and will be again. Folks are going broke and we are still at the moon. Sad.