A Billion-Dollar Crypto Gaming Startup Promised Riches and Delivered Disaster
Axie Infinity’s vision of a “play-to-earn” video game has crumbled, and the company behind it now tells the players who bought into the hype it was never about the money, anyway.
I think the idea could work. It just needs implemented correctly. Why shouldn’t people be able to sell items they get in a video game? They are trading money, time, or both to earn the items. It could work similar to eBay where the platform/game takes a cut of every transaction. There is the issue of obsolescence. Each game only has a certain shelf-life for relevancy. Whoever gets stuck holding the items at the end of that life is going to get take a huge hit in the value.
BTC seems to be heading down… @SVRE are you still going to hold your positions or save whatever left?
Heading to under 25k by end of tomorrow.
Stocks will follow. I bet nasdaq will close down 5+%.
uh oh. https://twitter.com/CelsiusNetwork/status/1536169010877739009?s=20&t=ZkgDZvNHHtC5yTuin4_yNQ
Crypto is a scam… 
I have a good chunk of change here and in Coinbase. OOF.I should have sold last week. Let’s see how it goes from here. I have BTC and MATIC at Celsius.
“Due to extreme market conditions, today we are announcing that Celsius is pausing all withdrawals, Swap, and transfers between accounts. We are taking this action today to put Celsius in a better position to honor, over time, its withdrawal obligations.”
They’re insolvent. The withdrawals requests are exceeding what they have, so they have to stop them.
If they were a bank the Fed would do a stress test and then either bail them out or shut them down. But afaik there is still essentially no regulation in crypto. Wonder how much collateral damage there will be from the crypto and nft washout leaking into the real economy.
It’s going to be significant. The market cap of crypto was still over $1T last week. Who knows what type of leverage there is on those platforms and how brutal the margin calls will be. That’ll trigger selling of other assets to pay the margin calls. Once that starts, it’s difficult to find a bottom until crypto stabilizes or hits zero. Platforms not having cash for redemptions is only going to magnify it. On the bright side, inflation won’t be a concern anymore.
This is like a run on the bank.
Come on people… REAL ESTATE IS KING AND THE ONLY WORTHWHILE INVESTMENT TO HOLD LONG TERM!!! Not rocket science…
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Any secular compounders are worthwhile holding long term (hopefully forever). RE (not all, remember Detroit). S&P, so long USA has the largest consumer’s market and USD is the reserve currency… some people has decided to invest in MSCI instead… I am sticking with S&P index.
Btw, if BTC drops below $19k, the risk of it going down to few thousand is high.
Yep…this is why we have the FDIC!
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Is why I didn’t buy any crypto coins.
No FDIC. No SIPC.
This is a RE forum. I have been against crypto since day 1.
I remember the crash in 2001 when all the phoney internet companies like pets.com went bust. The tide is out and we know who’s swimming naked.
Day 1 = OP? BTC = $2500 
Have you bought, still sitting on very good gain.
Carnival cruise line is at its lowest stock price ever. Time for cruise ships to go away. They put out more pollution than all the cars on the planet. They add nothing to our economy and are hot beds for spreading Covid19. Plus they use basically slave labor… modern day slave ships.
I hate cruises and cruise ships. have never been on one and think they are vile.
Ok, you can’t HATE something if you have never tried it…
Its a rule 