Crypto Exchange

[jazz]

Rumor is FTX is just the first domino. And more than likely they guys all borrowed against tokens to shove real money into the stock market. The contagion is going to be beautiful.

Anyway, Canadians have their own stupidity to worry about. CBC got the math wrong but its still a substantial amount of money vaporized.

Imagine if $131B was invested in resource development. But nope, wasted on a bunch of chronics.

[Old Cowzilla]

Our small town has a Pot Shop but no place to fix a flat tire

[AlbertaFarmer5]

Our small town has a Pot Shop but no place to fix a flat tire

It's even worse, A friend of mine in our small town had a thriving business repairing radiators etc. Doing business from all over North America.
So they closed that down to start their own pot business.

I can't even begin to count how many ways this is a loss to the economy.


And in the bigger picture, we have absolutely squandered the cheap capital era, which is now over. Instead of building anything productive with all that money, we wasted it on green energy, crypto, pot, etc. Nothing to show for it at all, and now we get to attempt to build an actual economy with scarce expensive capital while simultaneously servicing the huge debt load incurred previously with nothing to show for it.

[errolanderson]

Cryptocurrency bear markets and bankruptcies . . . .

1. LUNA ($40 billion) went bankrupt
2. Celsius declared insolvency
3. Voyager declared insolvency
4. 3AC filed for bankruptcy.
5. FTX ($8 billion) went bankrupt

How many more Crypto Ponzi schemes will fail this year?

[AlbertaFarmer5]

Cryptocurrency bear markets and bankruptcies . . . .

1. LUNA ($40 billion) went bankrupt
2. Celsius declared insolvency
3. Voyager declared insolvency
4. 3AC filed for bankruptcy.
5. FTX ($8 billion) went bankrupt

How many more Crypto Ponzi schemes will fail this year?

All? Seems like a safe bet.

[errolanderson]

All? Seems like a safe bet.

Extinction appears possible . . . .

[jazz]

So lets get this straight. SBF creates a token out of thin air, cons a bunch of crypto bro investors to buy it up increasing its value immensely. His GFs hedge fund then uses the token value to borrow fiat against it to invest in the stock market. And then that same firm loans SBF back $1B dollars.

Holy shit is this corrupt.

[AlbertaFarmer5]

So lets get this straight. SBF creates a token out of thin air, cons a bunch of crypto bro investors to buy it up increasing its value immensely. His GFs hedge fund then uses the token value to borrow fiat against it to invest in the stock market. And then that same firm loans SBF back $1B dollars.

Holy shit is this corrupt.

[ATTACH]11430[/ATTACH]

Meanwhile, back in our country, people were having their bank accounts Frozen for the crime of donating $10 to a trucker. And being arrested and held in jail for long periods of time for going to church or attending a trucker protest.
Good to know that our regulators and judicial system have their priorities straight.

[ALBERTAFARMER4]

Here's a pretty good video detailing exactly what happened.

[Guest]

good video
glad i was too tech stupid to invest in this shit

[blackpowder]

Watched Nova show on crypto last night.
I still don't understand it enough (or at all) to walk from greenbacks.
Those were in the mining.

[shtferbrains]

Still lessons being learned there.
Saw one of the big promoters today say she cashed our of Crypto as that was the only sure way to hedge against total loss.

[errolanderson]

The apparent fraud, (if true) coming out is mind-blowing. Amazing, stock market pretending nothing is happening . . . .

Market contagion has to be a risk as tentacles of this story grows (IMO).

[Happytrails]

[QUOTE=hedgehog;553697]

They might have to offload some dirt

Don't think the teachers pension fund is totally clueless. They have already unloaded the marginal dirt we have in our area. To the hutt's. The hutt's are having some doubts but building like crazy.

[sawfly1]

Admittedly i know little to nothing of crypto . But like mustard dont you have to wonder about the wisdom of Pierre and Kevin Oleary . The conservatives mind trust ( if there even is such a thing ?)
Not even elected and they are screwing up big time. You gotta Shake your head.
Pierres only stand on anything, and its a f up already .
Trudeau is a pain .I will give you that.
But PP is trying to run on a platform of i won't tell you. Because then he would have to defend something.

Can't have that. And scare the crap out of Canadians.

He is Harper number 2 . Pretend your harmless. Then sell out Canadians at every turn .
Like your seed rights.eh. Tom.remember

I am old enough it will not matter to me.
I will be fine .

But when your kids are cutting a check every season to their Fuedal masters .
To replant your own seed to grow a crop. Suck it up. It is what you voted for.

( pretty smart no land to finance , no machinery, no fuel . Not even any seed to produce , just cash the check . Because you own every seed . Thanks to Tom and Harper., you can pretty well bend over. . farmers are pretty much f ed without seed.) Right .
A Minor detail conservatives neglected
To consider.

In 20 years am sure you will find a way to blame the left some how . Just like you have on globalization .