Crypto discussion

Aramsolari

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Any news on Coinbase possible bankruptcy? It sounds like Coinbase is going to survive.

They’ll be fine.

They’re not quite ‘too big to fall’ territory but them listing on Nasdaq gave them quite a bit of big institutional support and legitimacy.

Nothing’s 100% safe though…obviously. Crypto is still the Wild West (with little regulation/oversight) and things can unfold to disastrous results as sadly demonstrated by Luna’s demise.
 
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Montoya

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Any news on Coinbase possible bankruptcy? It sounds like Coinbase is going to survive.

This is so fucking stupid.

SEC says you need to have a clause in your disclaimers explaining worse case scenarios. So Coinbase adds clause explaining worst case scenario.

Media outlets upon seeing the added clause "WIll Coinbase go bankrupt?" knowing very well that having that in a disclaimer is not an indication you are going bankrupt. It is common practice in almost ever equity on the stock exchange to have a similar clause to this in every filing they make. So its not new or strange, yet they went ahead and pushed the headlines out to scare and confuse people.

I swear we live in the fucking stupidest time line.
 

Aramsolari

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This is so fucking stupid.

SEC says you need to have a clause in your disclaimers explaining worse case scenarios. So Coinbase adds clause explaining worst case scenario.

Media outlets upon seeing the added clause "WIll Coinbase go bankrupt?" knowing very well that having that in a disclaimer is not an indication you are going bankrupt. It is common practice in almost ever equity on the stock exchange to have a similar clause to this in every filing they make. So its not new or strange, yet they went ahead and pushed the headlines out to scare and confuse people.

I swear we live in the fucking stupidest time line.
The simple fact is a lot of mainstream media still doesn’t understand Crypto, Blockchain, etc nor do they want to. Bit of fear and uncertainty in Coinbase? Omg! Bankrupt!

I mean only what? 20% of Americans trade and hold Crypto? Until it gains more widespread acceptance, we’ll continue to see more sensationalist headlines and news stories.

Imagine traditional fund managers like Vanguard and Blackrock issuing similar disclaimers? Omg bankrupt!
 
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Montoya

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ADA isnt moving but for shits and giggles earlier this month i took 50 from ada and threw it in shib when it popped on coinbase. now its up 400% lol i'm not touching that though im going to let it sit and stew. my ada also i'm done moving assets around i'm just not good at it i'll play the long game.
How DOGE and SHIB are in the top 20 for market cap is something that I will always be baffled by. Just goes to show that community strength trumps all other factors sometimes.
 
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Montoya

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Yeah I watched the video a while ago, Im not sure what that guy was thinking?

I feel that he probably thought he was dumbing down the concept to make it understandable, but when you are talking to professional finance bros you need more than the argument that you simply create market cap from nothing.
 

Aramsolari

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Most Crypto bros are thick...like very thick. For every Vitalik and Gavin Wood....there's a hundred Do Kwons and Bankman-Frieds. A lot of these guys are basically ripping off code from say the Ethereum blockchain. They don't understand the bare basics of finance and basic concepts like market cap. Like if your dogshitcoin has a circulation of 300 trillion or something, hell will freeze over twice before it hits even $0.01

I'll be honest...I don't believe in the marketing hype anymore. NFT uses, 'Defi future', protection against 'Fiat', 'Financial Sovereignty', etc etc. It's all bullshit.

99% of Cryptos are pump and dump Ponzi schemes. The sooner people wake up to this, the better they're for it.

I'm strictly in it for the money. I identify 'momentum' trends, ride the wave, and then get the hell out. Rinse and repeat. Treat it like penny stocks. Sometimes it works out, sometimes it doesn't and well, I accept that. The key is to not overextend yourself because then....it's basically a gambling problem. Thus far I've made some money, it's fun, and a great conversation starter at work.

It's a weekend in Vegas. That's all it is.
 
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Montoya

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I'll be honest...I don't believe in the marketing hype anymore. NFT uses, 'Defi future', protection against 'Fiat', 'Financial Sovereignty', etc etc. It's all bullshit.
Having a financial system apart and separate from traditional finance was something I thought was good. When stock markets dropped, money could go into crypto for safety, it made sense. We saw that early on, bitcoin was the "store of value" like gold. Obviously that is a meme at this point, but originally it looked that way.

But then traditional finance started stepping in, creating indexes, funds and futures to allow their clients to participate in crypto and now the stock market and crypto markets move the same way!

Defi has been a fascinating development these past few years, there is a lot of junk out there, but times like this filter away the bad and the good projects rise up.
 

Aramsolari

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Having a financial system apart and separate from traditional finance was something I thought was good. When stock markets dropped, money could go into crypto for safety, it made sense. We saw that early on, bitcoin was the "store of value" like gold. Obviously that is a meme at this point, but originally it looked that way.

But then traditional finance started stepping in, creating indexes, funds and futures to allow their clients to participate in crypto and now the stock market and crypto markets move the same way!

Defi has been a fascinating development these past few years, there is a lot of junk out there, but times like this filter away the bad and the good projects rise up.
The way I see it....it's basically just another Security these days. Crypto ebbs and flows with the general market. It wasn't the case in the past.

When traditional finance stepped in....I thought the gig was up. Luna's demise was rumoured to be a calculated attack by big players. Possibly hedge funds or the like.

At the very least I hope Luna falling apart makes folks reassess their holdings. Perhaps devs of legitimate projects will shore up their vulnerabilities.
 
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