Moderator: 3ne2nr Mods
bluefete wrote:Risk is inherent in investing money be it cryptocurrency, stocks, bonds, (savings - do not count as investment but you can still lose all)
T&T Financial Failures / Collapses:
1983 - International Trust Ltd.
1984 - Southern Finance
1986 - Trade Confirmers
Summit Finance
Commercial Finance
MAT Securities
SWAIT
1993 - NCB
TCB
WBL
2009 - CL Financial
HCU
The people new to crypto are very easy to spot.toyolink wrote:In my 'simple' opinion, cryptocurrency relies on the extremely wealthy globally supporting the value of same by keeping demand at viable levels since there is no other meaningful institutional value support system in place.
What seems to be happening now appears a shift in priorities with the extremely wealthy having to deal with significant negative business pressures impacting the viablility of their core commercial existence.
A lot of what is going on seems to have been precipitate by the global impact of the pandemic and maybe even Mr Putins war resulting in the need to direct real money and financial resources to building resilience.
Instability of any form of currency as we are seeing today, is extremely dangerous for countries and can expose economies to collapse in a matter of days.
Crypto behavior remind me of the 'dotcom' days and the crazy experiences in the 90's where many became billionaires in tech and bankrupt almost overnite.
teems1 wrote:bluefete wrote:Risk is inherent in investing money be it cryptocurrency, stocks, bonds, (savings - do not count as investment but you can still lose all)
T&T Financial Failures / Collapses:
1983 - International Trust Ltd.
1984 - Southern Finance
1986 - Trade Confirmers
Summit Finance
Commercial Finance
MAT Securities
SWAIT
1993 - NCB
TCB
WBL
2009 - CL Financial
HCU
These crashes can be tied back to a paper trail where after analysis they could see what was the cause.
Eg the 2009 CL Financial case was due to them being tied up in the US subprime mortgage backed securities. CCC investments were being labelled as AAA by regulators like Moody's.
Crypto has no IFRS report which investment bankers can analyze and say "darn, someone didn't forecast this company's revenue stream properly and that's why I deserved to lose my money".
Crypto is a huge ponzi scheme right now where people are capitalizing on people's greed and FOMO to make a quick buck. It's a huge speculative bubble.
https://en.wikipedia.org/wiki/Economic_bubble
wall wrote:teems1 wrote:bluefete wrote:Risk is inherent in investing money be it cryptocurrency, stocks, bonds, (savings - do not count as investment but you can still lose all)
T&T Financial Failures / Collapses:
1983 - International Trust Ltd.
1984 - Southern Finance
1986 - Trade Confirmers
Summit Finance
Commercial Finance
MAT Securities
SWAIT
1993 - NCB
TCB
WBL
2009 - CL Financial
HCU
These crashes can be tied back to a paper trail where after analysis they could see what was the cause.
Eg the 2009 CL Financial case was due to them being tied up in the US subprime mortgage backed securities. CCC investments were being labelled as AAA by regulators like Moody's.
Crypto has no IFRS report which investment bankers can analyze and say "darn, someone didn't forecast this company's revenue stream properly and that's why I deserved to lose my money".
Crypto is a huge ponzi scheme right now where people are capitalizing on people's greed and FOMO to make a quick buck. It's a huge speculative bubble.
https://en.wikipedia.org/wiki/Economic_bubble
Sooo you think this is happening just out of the blue? Prob nothing to do with decades high inflation in the US and the FEDs aggressive attempts to slow the markets by raising interest rates by the highest increase in forever to lower said inflation ? The most speculative stocks -tech , crypto etc will obviously be the hardest hit. The US is on the brink of a recession . Have you seen the traditional markets ? Large blue chip stocks down 50+ % in no time , Dow and SP down nearly 20% YTD with more to go until inflation comes down to an acceptable level . As for paper trail crypto far exceeds anything else out there . Every transaction is on The blockchain which is untamperable and there for Everyone to see . Crypto is highly Speculative yes but it’s no ponzi scheme
teems1 wrote:wall wrote:teems1 wrote:bluefete wrote:Risk is inherent in investing money be it cryptocurrency, stocks, bonds, (savings - do not count as investment but you can still lose all)
T&T Financial Failures / Collapses:
1983 - International Trust Ltd.
1984 - Southern Finance
1986 - Trade Confirmers
Summit Finance
Commercial Finance
MAT Securities
SWAIT
1993 - NCB
TCB
WBL
2009 - CL Financial
HCU
These crashes can be tied back to a paper trail where after analysis they could see what was the cause.
Eg the 2009 CL Financial case was due to them being tied up in the US subprime mortgage backed securities. CCC investments were being labelled as AAA by regulators like Moody's.
Crypto has no IFRS report which investment bankers can analyze and say "darn, someone didn't forecast this company's revenue stream properly and that's why I deserved to lose my money".
Crypto is a huge ponzi scheme right now where people are capitalizing on people's greed and FOMO to make a quick buck. It's a huge speculative bubble.
https://en.wikipedia.org/wiki/Economic_bubble
Sooo you think this is happening just out of the blue? Prob nothing to do with decades high inflation in the US and the FEDs aggressive attempts to slow the markets by raising interest rates by the highest increase in forever to lower said inflation ? The most speculative stocks -tech , crypto etc will obviously be the hardest hit. The US is on the brink of a recession . Have you seen the traditional markets ? Large blue chip stocks down 50+ % in no time , Dow and SP down nearly 20% YTD with more to go until inflation comes down to an acceptable level . As for paper trail crypto far exceeds anything else out there . Every transaction is on The blockchain which is untamperable and there for Everyone to see . Crypto is highly Speculative yes but it’s no ponzi scheme
LUNA went from $117 last month to 2cents currently.
What is the explanation for that? Where is the "trail" similar to Moody's incorrectly categorizing a CCC asset as a AAA one back in 2008.
It doesn't matter that every transaction is in the blockchain. The real question is what is the precursor to these coins death spiral? Right now it's all looking like pump and dump schemes.
VexXx Dogg wrote:cryptoshitstorm 2022.
good luck cryptobros.
wall wrote:teems1 wrote:wall wrote:teems1 wrote:bluefete wrote:Risk is inherent in investing money be it cryptocurrency, stocks, bonds, (savings - do not count as investment but you can still lose all)
T&T Financial Failures / Collapses:
1983 - International Trust Ltd.
1984 - Southern Finance
1986 - Trade Confirmers
Summit Finance
Commercial Finance
MAT Securities
SWAIT
1993 - NCB
TCB
WBL
2009 - CL Financial
HCU
These crashes can be tied back to a paper trail where after analysis they could see what was the cause.
Eg the 2009 CL Financial case was due to them being tied up in the US subprime mortgage backed securities. CCC investments were being labelled as AAA by regulators like Moody's.
Crypto has no IFRS report which investment bankers can analyze and say "darn, someone didn't forecast this company's revenue stream properly and that's why I deserved to lose my money".
Crypto is a huge ponzi scheme right now where people are capitalizing on people's greed and FOMO to make a quick buck. It's a huge speculative bubble.
https://en.wikipedia.org/wiki/Economic_bubble
Sooo you think this is happening just out of the blue? Prob nothing to do with decades high inflation in the US and the FEDs aggressive attempts to slow the markets by raising interest rates by the highest increase in forever to lower said inflation ? The most speculative stocks -tech , crypto etc will obviously be the hardest hit. The US is on the brink of a recession . Have you seen the traditional markets ? Large blue chip stocks down 50+ % in no time , Dow and SP down nearly 20% YTD with more to go until inflation comes down to an acceptable level . As for paper trail crypto far exceeds anything else out there . Every transaction is on The blockchain which is untamperable and there for Everyone to see . Crypto is highly Speculative yes but it’s no ponzi scheme
LUNA went from $117 last month to 2cents currently.
What is the explanation for that? Where is the "trail" similar to Moody's incorrectly categorizing a CCC asset as a AAA one back in 2008.
It doesn't matter that every transaction is in the blockchain. The real question is what is the precursor to these coins death spiral? Right now it's all looking like pump and dump schemes.
From what I’m understand Luna crashed because the stable coin it issues , UST depeged from the $1 . UST is an algorithmic stable coin backed by a number of different assets one being BTC Unlike USDT (another stable coin) which is backed primarily by US bonds and less volatile assests . Luna recently purchased a couple billion in BTC to back said stable coin . Probably not the best idea having a unstable assest like btc to back it . however there’s rumors and speculation that bad actors in the space with lots of financial backing took advantage of this by buying a size-able portion of UST and BTC and proceeded to dump the btc and ust aggressively on the already falling market causing a cascading effect off liquidations on long positions and panic sellers . The luna team then we’re forced to sell a large quantity of btc to try to recover the peg further dumping the price of btc . And as we all
Know with btc falling all alt coins are sure to follow . All while said bad actors opened a short position to capitalize on this sharp fall to the tune of close to a billion dollars .
teems1 wrote:wall wrote:teems1 wrote:wall wrote:teems1 wrote:bluefete wrote:Risk is inherent in investing money be it cryptocurrency, stocks, bonds, (savings - do not count as investment but you can still lose all)
T&T Financial Failures / Collapses:
1983 - International Trust Ltd.
1984 - Southern Finance
1986 - Trade Confirmers
Summit Finance
Commercial Finance
MAT Securities
SWAIT
1993 - NCB
TCB
WBL
2009 - CL Financial
HCU
These crashes can be tied back to a paper trail where after analysis they could see what was the cause.
Eg the 2009 CL Financial case was due to them being tied up in the US subprime mortgage backed securities. CCC investments were being labelled as AAA by regulators like Moody's.
Crypto has no IFRS report which investment bankers can analyze and say "darn, someone didn't forecast this company's revenue stream properly and that's why I deserved to lose my money".
Crypto is a huge ponzi scheme right now where people are capitalizing on people's greed and FOMO to make a quick buck. It's a huge speculative bubble.
https://en.wikipedia.org/wiki/Economic_bubble
Sooo you think this is happening just out of the blue? Prob nothing to do with decades high inflation in the US and the FEDs aggressive attempts to slow the markets by raising interest rates by the highest increase in forever to lower said inflation ? The most speculative stocks -tech , crypto etc will obviously be the hardest hit. The US is on the brink of a recession . Have you seen the traditional markets ? Large blue chip stocks down 50+ % in no time , Dow and SP down nearly 20% YTD with more to go until inflation comes down to an acceptable level . As for paper trail crypto far exceeds anything else out there . Every transaction is on The blockchain which is untamperable and there for Everyone to see . Crypto is highly Speculative yes but it’s no ponzi scheme
LUNA went from $117 last month to 2cents currently.
What is the explanation for that? Where is the "trail" similar to Moody's incorrectly categorizing a CCC asset as a AAA one back in 2008.
It doesn't matter that every transaction is in the blockchain. The real question is what is the precursor to these coins death spiral? Right now it's all looking like pump and dump schemes.
From what I’m understand Luna crashed because the stable coin it issues , UST depeged from the $1 . UST is an algorithmic stable coin backed by a number of different assets one being BTC Unlike USDT (another stable coin) which is backed primarily by US bonds and less volatile assests . Luna recently purchased a couple billion in BTC to back said stable coin . Probably not the best idea having a unstable assest like btc to back it . however there’s rumors and speculation that bad actors in the space with lots of financial backing took advantage of this by buying a size-able portion of UST and BTC and proceeded to dump the btc and ust aggressively on the already falling market causing a cascading effect off liquidations on long positions and panic sellers . The luna team then we’re forced to sell a large quantity of btc to try to recover the peg further dumping the price of btc . And as we all
Know with btc falling all alt coins are sure to follow . All while said bad actors opened a short position to capitalize on this sharp fall to the tune of close to a billion dollars .
The market cap of LUNA went from 40,000,000,000 to 50,000,000 in the space of less than 30 days.
It was a top 5 coin a month ago, and now it's worthless, and all people have to say is that alleged "bad actors" were responsible for this?
There is no quarterly report which indicates that sales of company x were poor.
There is no IFRS report to show that product y is non profitable.
There is no advisory report to show that pill z is harmful.
It's all a speculative asset, with nothing concrete to stand against, being pumped, dumped and gamed by persons smarter and wealthier than the average home trader. This is a David vs Goliath where David loses every time and claim Goliath is a "bad actor" from Citadel/Blackrock.
Everyone wants to be the ruthless Gordon Gecko investor type with the green and red graphs on their monitor looking like someone on Billions or Wall Street, when in real life the much smarter than you Ivy League analysts at JP Morgan, Goldman Sachs actually spend more time analyzing boring financial reports and using spreadsheets before they even think of making a strategic move.
Nowadays those analysts aren't even as effective as computers which can parse and crunch data far better than analysts.
It's role playing with losing your savings as a real life consequence.
pugboy wrote:always remember somebody buying when these ppl dumping…..VexXx Dogg wrote:cryptoshitstorm 2022.
good luck cryptobros.
The_Honourable wrote:There were rumors last week but seeing on facebook today that Republic Bank clamp down on crypto purchases. They were allowing it for a while.
Internal memo
pugboy wrote:is this the first time there has been downturn despair?
Duane 3NE 2NR wrote:No Support For Bitcoin Mining
June 14, 2022 TTT News
Government says it is not supporting bitcoin mining at this time.
Speaking in the Senate, Minister in the Ministry of Finance, Brian Manning, explained that the cryptocurrency is restricted in several countries. Independent Senator Amrita Deonarine pointed to a recent newspaper article citing that a Bitcoin mining farm was being proposed at the Tamana InTech Park.
However, Mr. Manning said this was not the case.
https://www.ttt.live/no-support-for-bitcoin-mining/
wall wrote:Don’t worry na man just now ansamcal will have their btc mining operation up and running and we will have to go to them for any and all crypto purchases . D Syrians hadda eat first then d rest of us could scramble for the crumbs
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