1 BTC $30k is peanuts. Throwaway money. Likely less than 1% of his NW.
Yes, in that ball park. It will still hurt to completely lose it since my initial investment was more like 2% of NW, and this was liquid money as opposed to home equity or 401k, which is just abstract wealth on paper…
Crypto has always been a big lie.
Some of Mr. Kwon’s major investors have lost money. Changpeng Zhao, chief executive of the crypto exchange Binance, which invested in Terraform Labs, said his firm had bought $3 million of Luna, which grew to a peak value of $1.6 billion. But Binance never sold its tokens. Its Luna holdings are currently worth less than $3,000.
Cryto didn’t rally today?
Strange, why crypto did not go up last couple of days
Lol, that you constantly talk about how over valued RE is but think crypto is worth something.
1 Like
Understanding technical stuffs is not the same as understanding humans.
Crypto itself is a scam. No wonder it’s following is scammed. People shouldn’t believe everyone on the internet. In fact they would better off believing nothing on the internet. Crypto is by nature mysterious and complex. It is by design subject to fraud and abuse. Nobody knows who invented Bitcoin. Buyer beware. I’m sticking the basics. Things you can touch and see. Sticks and bricks. Crypto cloud meta are pie in the sky.
Eterbase’s lost money is part of a torrent of illicit funds that flowed through Binance from 2017 to 2021, a Reuters investigation has found. During this period, Binance processed transactions totalling at least $2.35 billion stemming from hacks, investment frauds and illegal drug sales
Maybe I watch too many drug/money laundering shows but ~$2.4 B doesn’t seem like that much. Probably it’s vastly understated but still.
1 Like
- Economist Paul Krugman compared the cryptocurrency boom to the mid-2000s housing bubble.
- Crypto has become so valuable and popular that people wrongly assume it’s worth something, he said.
- The Nobel laureate warned investors have “gone from the Big Short to the Big Scam.”
1 Like