At least with tulip mania, you got a tulip bub.
let's be fair--with the cripto ponzi fraud you do get this:
Posted on 11/13/2022 7:16:21 PM PST by catnipman
Institutional investors were souring on cryptocurrencies even before this week. The sudden downfall of Sam Bankman-Fried’s FTX.com may have permanently damaged their prospects of being included in mainstream portfolios.
While plenty of industry die-hards remain, many professional money managers are saying the case for crypto as a portfolio diversifier or digital gold has been debunked. The losses are too great and the market structure is too risky, they say.
“What’s become clear is it will not find a home in institutional asset allocation,” said Hani Redha, a multi-asset portfolio manager at Pinebridge Investments in London. “There was a period when it was being considered as a potential asset class that every investor should have in their strategic asset allocation and that’s off the table entirely.”
The implosions and scandals of the past few months have laid waste to the key arguments of crypto boosters, and all but obliterated the notion of Bitcoin as safe haven in turbulent times.
(Excerpt) Read more at gulfnews.com ...
The implosion of Sam Bankman-Fried's FTX global empire did the world a YUGE favor by permanently destroying the notion that Magic Internet Money mania should be included in the world's conventional financial infrastructure ...
Wondering if the feral gubbamint has anything to do with the collapse of crypto. Could it be the digital U.S. dollar is being ushered in and in this process crypto must be taken out.
Just a thought.
Might be better off allowing Switzerland to go back storing all that dark money again and with full secrecy of the account holder, just like it used to be.
Not likely to happen though.
many major central banks have already decided a crypto-type digital currency serves no purpose ... all major currencies are already digital for all practical purposes since their actual cash portions represent a very miniscule proportion of total transactions ...
(Yes, I know all three are often the same individuals).
Trying to get rich from crypto by letting someone else keep your crypto is against the entire principle of crypto. If you don't control your private keys you own nothing and deserve nothing.
Well this will pass and crypto will keep limping along until there's a better way to do echanges and then take off again.
JPMorgan has a crypto desk. As do all of the major investment banks.
FTX was a shit show. The BIG banks had nothing to do with an exchange run by some Crypto-kid.
This is a washing out process. The grown ups are coming in. Quietly.
You have three areas in the financial sector in the US that can make you money.
1) Hedge Finance- keep your ass glued to these guys because they’ll make you money no matter the era.
2) Speculative Finance- these guys gamble a little more but can really make you some good earnings, but stick to the players in this group connected to group #1.
3) Ponzi Finance- these guys teach good lessons about how not to invest because their financial model is unsustainable. Their financing never holds up.
“Never buy on ‘the noise’ because often its too late.”
>>all major currencies are already digital for all practical purposes since their actual cash portions represent a very miniscule proportion of total transactions<<
True, however Americans still hold autonomy. If/when the digital USD is instituted, folks should be worried...very worried.
What else would you call buying air and planning to sell air at a higher price?
Over time, I’ve come to believe the anonymous Satoshi Nakamoto was simply a creation of the Central Bankers and/ NWO people to get us used to a digital currency, digital contracts, digital ID, digital everything. Saves them a bunch of money while giving them complete control over us.
At least with tulip mania, you got a tulip bub.
Gold is the Original Crypto Currency
Ukraine invested in top Dem donor's crypto company FTX as Biden admin funded war effort
10% for the big guy?
🤔
The banking cabal were never going to allow the competition.
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