online gambling stonks are all down pretty good atm
goldman loses a lot on bets quite a bit, it’s just sometimes they get out of it with probably not legal maneuvers they get away with
The Goldman Sachs pdf I posted upthread pointed to the true believers holding thinking they’re sticking it to banks and governments. And in the tesla economy, that’s a real and significant factor
This is a great analogy because Goldman dumped their MBS exposure before the game of musical chairs ended in 2008. You think Goldman is holding crypto to the bitter end?
Bear Stearns and a ton of other rich people did lose it all in 2008. The only reason AIG and a bunch more didn’t collapse is the US govt stepping in. Do you see the govt stepping in to staunch a crypto crash?
IMO the big banks that have Crypto exposure are more than happy for Crypto to go to zero.
Basically, Chase and Goldman Sachs started adding Crypto exposure because they saw a possible future for Crypto-based assets to dwarf other sorts of financial assets. If this happens and they have zero Crypto exposure, then they lose a ton of their power in the financial system.
If Crypto goes to zero, sure the banks each lose a few billion, but they would probably have more assets and power in the financial system as a whole than they currently do.
I think the vast majority didn’t or were bailed out.
So the govt is going to bail out crypto whales?
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awice might be a charlatan but he is also at least currently very rich. like he bought that fidenza 723 for ~3 million dollars 5 months ago, so it appears whatever he lost on the election didn’t really harm him.
Did I say that? I said rich people didn’t lose in 2008. They rarely lose ever.
So we don’t know how much these other sales went for, right? But one of these should be awice? Is there any way to verify that?
Seems interesting that BacC073F7 is holding how. and that the original sale went back to him very quickly. Like maybe a show sale to drive up other prices or whatever?
We know he made at least 6 figs off betting on Trump, and it seems credible that he plowed most of it into crypto in 2017ish. Kind of impossible for him to not be extremely rich right now even if he made some bets that fizzled.
People who follow his Twitter say he was bragging about being leveraged up the ass, easily possible he liquidated a large part of his holdings
I agree, which is why I think Goldman will be fine if BTC goes to zero. But I don’t think they’re going to magically stop BTC from going to zero. Also what Zimmer said.
BTC isn’t going to zero anytime soon so I’m not sure how that is relevant.
I don’t see how it’s possible to go busto playing crypto from 2017-2021, but this universe contains many untold wonders.
Those are probably transfers to other wallets of his
I’m trying to think, like, if a group of UP members bought real estate, would suzzer be checking zillow and needling them every time the value drops? Probably, yeah
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If the group was flipping houses in 2007 I might.
But again - a house can only drop so far before someone will buy it.
All I’m asking is what’s to stop BTC if it goes into freefall? I’m not sure why that question can’t be answered.
i don’t even know if they were sales (as you see it was transferred back and forth from the same two accounts).
awice’s buy was pretty public afaik.
everytime i see his name mentioned people try to find ways to prove he’s a fraud, which he might be but he is most likely extremely rich. whether he’s extremely rich from being very insightful or from scamming his followers might be debatable.
Detroit wants to have a word with you.
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I’ve posted about my poker buddy who did the same thing, but had ~$20 million and managed to make it all disappear in bad crypto bets.