Another Crypto goes belly up (Page 1/1)
blackrams JAN 20, 08:18 AM
BREAKING NEWS: Crypto giant Genesis files for bankruptcy after suffering crippling losses in wake of FTX collapse - and has over 100,000 creditors

https://www.dailymail.co.uk...ke-FTX-collapse.html

All I will say is, it appears to be too late to get out now. Those invested should have seen the handwriting on the wall.

Rams
williegoat JAN 20, 01:09 PM
I still don't understand how otherwise rational adults buy in to these Ponzi schemes.

Crypto, Bitcoin et al, are created out of "thin air". They have no value. The same now applies to the US dollar.

Anybody want to buy my NFT?
TheDigitalAlchemist JAN 20, 01:21 PM

quote
Originally posted by williegoat:

Anybody want to buy my NFT?




LOVE THAT! is that actually something you physically have?
williegoat JAN 20, 01:44 PM

quote
Originally posted by TheDigitalAlchemist:


LOVE THAT! is that actually something you physically have?



No, I found the picture on the web. I think it is a geocaching token.

I'll post the link when I get a round tuit.
theogre JAN 20, 06:25 PM
Is just another Mt. Gox and more exchanges that "go broke" for years now and most operators and others took Millions to Billions and often still have real money hidden in Cayman Island and related places. Plus Bitcoin and other "standards" hidden in offline wallets. Only a very few will see jail time.

If you think no-one seen FTX was a scam, wrong. Many pushing that suspected or outright knew was a scam and got a lot of money for the effort now claiming the victim card hoping won't get sued or worse.

------------------
Dr. Ian Malcolm: Yeah, but your scientists were so preoccupied with whether or not they could, they didn't stop to think if they should.
(Jurassic Park)

The Ogre's Fiero Cave

blackrams JAN 20, 07:47 PM
While I do understand that our dollar is no longer backed up by gold, I have to have faith in something and I'm not about to buy thin air.

I do have some friends that have lost money on these cryptocurrencies, I have a couple that cashed out early and made some.

Not something I am willing to buy into.

Rams

[This message has been edited by blackrams (edited 01-21-2023).]

OldsFiero JAN 21, 07:25 AM
One of my neighbors sold his dairy a couple years back and put on beef cows. About a year ago he sold the beefers and put 9 bitcoin miners in the barn. I have a feeling he will be farming again full time.

Marc