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BitCoin falling like a Dotcom


joeken24

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I always enjoy when this happens and everyone acts like it is new an unexpected 

 

this is what crypto does

 

long term investing is dumb. If you missed your chance to sell before it peaked  wait till it bottoms out and double up and sell it on the way back up. 
 

 

also. None of you would be fun to go to vegas with. 

Edited by tshile
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10 hours ago, stoshuaj said:

Who was that player that took his salary in coin?  What’s he playing for these days?

I'm pretty sure a couple did it. Russell Okung did it and so did

https://www.marke****ch.com/story/nfls-odell-beckham-jr-took-his-750-000-salary-in-bitcoin-how-much-did-it-end-up-costing-him-11643050374

 

Edit: Didn't even see that the word **** was in market watch.

 

Edited by Cooked Crack
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11 hours ago, stoshuaj said:

Who was that player that took his salary in coin?  What’s he playing for these days?

@Cooked Crack is right about Okung who took 50% of his salary in 2019.  He has probably done relatively okay because bitcoin is still up about triple 2019 values.  Trevor Lawrence took his entire 22M+ signing bonus and put it in Etherum, Bitcoin, and one other.  He’s taken a bath if he never converted it.

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I’m not involved in crypto.  But have been reading up on this crash.  For more mainstream coins like Bitcoin, those who invested as little as two years ago are still up triple their initial investment.  Even those who dollar cost averaged for the past two years are likely (maybe, haven’t done the math) up.

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Titans of crypto and finance are fighting over this Washington agency

 

A crypto trading platform’s bid to let day traders place leveraged bets on digital assets has turned a small federal agency into a lobbying battleground, pitting the startup against old-school financial exchanges that see it as a major threat.

 

FTX, a global crypto exchange led by 30 year-old billionaire and political mega-donor Sam Bankman-Fried, has engaged in a full-court press convincing the Commodity Futures Trading Commission to sign off on its plan to let investors use borrowed money to trade crypto around the clock. If successful, it could clear a path for FTX to build an empire where individual investors could use leverage to bet on everything from bitcoin to corn futures contracts.

 

The startup’s ambitions have thrown it on a collision course with major exchanges and clearinghouses — including the owners of the NYSE and Chicago’s storied commodities trading pits — that have long held sway over the multitrillion dollar commodities market. FTX’s plan to speed up trading and let traders make bigger bets threatens to upend their business models — or, as they warn, kick-start a competition to eliminate market speed bumps.

 

The incumbent exchanges are leveraging deep ties in Washington to fight back.

 

“Our relationships go many, many layers deeper,” said John Deters, head of corporate strategy at Cboe, operator of the largest options exchange in the U.S.

 

The battle between the two lobbying armies is the latest Washington flare-up between titans of new and old finance as officials try to figure out how to set rules for the digital currency industry. It’s forcing regulators and lawmakers to pick sides. House Agriculture Chair David Scott (D-Ga.), who has oversight of the CFTC and represents the state where NYSE owner Intercontinental Exchange is based, has blasted the FTX plan as “a serious threat” to global derivatives markets where trillions of dollars are transacted annually.

 

“We’re surprised by the amount of tension— of attention — that it’s gotten,” Bankman-Fried said in an interview. “Some people may be coming at this from an angle of, you know, what’s important for their business.”

 

Click on the link for the full article

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