Molly Whiteaccurate 😂
from @davidgerard and Amy Castor
https://davidgerard.co.uk/blockchain/2023/01/12/crypto-collapse-dcgs-check-kiting-comes-home-to-roost-nexo-raided-voyager-sale-to-binance-progresses-unbanking-the-banked/
Futurist Jim Carrollcc. BernieMadoff
Ryan Cavanaugh@molly0xfff I see you also noticed the phrase "mark to market" in SBF's substack
Unlettered PeasantI am dying to know the breakdown of "assets". How much of that is/was FTT? As he faced a liquidity crisis did he try to sell assets to cover liabilities? When can we see the LOIs? He clearly is also on the Senators side even though the bankruptcy Judge chastised them (the Senators) yesterday.
So.Many.Questions! What's the over/under (in FTT) that he will do a Twitter Spaces?
@molly0xfff sounds exactly like Wall St to me. At least in crypto the taxpayer doesn’t need to bail out those crooks…
kurtsh@molly0xfff I always find it funny how crypto-apologists with no apparent experience in financial services declaring "OMG CRYPTO IS THE SAME THING AS ANY OTHER FINANCIAL INSTITUTION" conveniently get stricken with amnesia about the safety net called government-guaranteed assets.
@kurtsh @molly0xfff fair enough but what’s backing the money in your pocket? It’s just paper.
@spidee @molly0xfff Srsly? Okay, well, in my case, the US govt, its assets & its citizens, who collectively have an interest in the demand for the dollar & will make fiscal decisions to protect it as it represents a share of American value.
@kurtsh @molly0xfff exactly there no fundamental resource there backing it like gold. All there is is enough people who place a a value on it. Otherwise it’s just paper.
@spidee @molly0xfff No, you just described cryptocurrencies & applied a triviality like "gold" to conflate it with fiat currency.
Governments like the US have trillions in quantifiable assets. A country has objectively valued services & GDP with interests external to but linked to the value of the dollar.
Cryptocurrency has 2 metrics: Circulation & the investor's perceived value based on demand. Access, diminished exchange rates, anonymity are not value metrics.
@molly0xfff @davidgerard sounds more like fraud then crypto.
David Gerard@spidee more fraudulent than fraud, yes that's correct
CatweazleThe human being is the only animal that does not stumble twice with the same stone, but 50 times.
https://en.wikipedia.org/wiki/Tulip_mania
Kenneth S. Cremeans (kcSeb)@molly0xfff Yeaaaah... No. You've got no clue what you're on about.
Andrew "Ace" Arsenault
Galad@molly0xfff @davidgerard It’s the same as any other irrational bubble. The South Seas Company and the Tulip Craze come to mind.
bassplayer@molly0xfff @davidgerard Crypto in 2022 rekt a lot of people that did not adhere to first rule of crypto. Not your keys, not your crypto. All because they wanted that sweet 20% yield of altcoins stating they are just as good as BTC.
Also the day is coming when central banks are going to hold crypto. The Bank of International Settlements, the central bank of central banks, has published guidelines for central banks to hold crypto.
@bassplayer but consider: lol no, that's dumb as hell and is not happening, whatever CZ says