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Thread: Bitcoin....who's gotten into it?
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06-14-2022, 01:32 PM #9726
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06-14-2022, 01:55 PM #9727
As schuss said, this is pretty standard whataboutism, and certainly doesn't my assertion that making Bitcoin makes "nothing". Shera, I have no doubt that you're an awesome person, a great skier and we'd have a blast ripping down mountains together. Never mind the apres. But I gotta disagree with ya on this one. And I do not wish you financial duress. Far from it.
“I tell you, we are here on Earth to fart around, and don't let anybody tell you different.”
― Kurt Vonnegut, A Man Without a Country
www.mymountaincoop.ca
This is OUR mountain - come join us!
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06-14-2022, 02:27 PM #9728
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06-14-2022, 02:28 PM #9729
The “money for nothing!” idea so prevalent in crypto certainly burned the LUNA hodlers
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06-14-2022, 02:29 PM #9730
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06-14-2022, 02:32 PM #9731
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06-14-2022, 02:42 PM #9732
As I’ve said, where is the new buyer? It’s not change from couch cushions that’s gonna move it.
Former NYSE President Tom Farley and Far Peak Acquisition (NYSE:FPAC) SPAC leader said that he believes SPACs are done as an investment structure and he believes that capital markets are "completely dead" for now.
"They are going to disappear and on this show you won't utter the word SPAC, I suspect in 2024, more than once or twice," Farley said earlier in an interview on CNBC.
Farley highlighted that there have been four initial public offerings in June versus 91 in June of last year.
IPOs are "completely dead," Farley said. They will come back "but it's going to be a long time. People who think they are going public in the back half of this year are wrong."
"I think crypto looks more like capital markets than it does like SPACs," Farley added. "It's a painful moment. I think retail has been smoked. I don't think retail is coming back anytime soon and it's going to really impact some of the big business models in crypto that are oriented around retail and have been generating massive fees on retail."
Farley's comments came minutes before Coinbase Global (NASDAQ:COIN) announced it's cutting its headcount by 18% to manage its expenses and "to ensure we stay healthy during this economic downturn," CEO and co-founder Brian Armstrong in a blog post on Tuesday.
"It's going to take years to build back up the base of retail," Farley said.
Farley's comments about SPACs and crypto are noteworthy as Peter Thiel backed-SPAC Far Peak Acquisition (FPAC), which is led by Farley, announced a deal in July to take crypto-exchange Bullish public. At the time, the deal valued Bullish at $9 billion.
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06-14-2022, 02:51 PM #9733
It's also massive in how it can't be compared. Most people have dryers. Most people do not have bitcoin miners, so you're comparing power usage for something that has broad adoption to something that does not. It's like saying people spend way more in power to light their homes - probably correct in aggregate! However, scale is waaaaaaaaaaaayyyyyy different.
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06-14-2022, 03:04 PM #9734
Returning to this seems practical:
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06-14-2022, 03:07 PM #9735
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06-14-2022, 03:11 PM #9736
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06-14-2022, 03:25 PM #9737
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06-14-2022, 03:28 PM #9738
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06-14-2022, 03:32 PM #9739
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06-14-2022, 03:49 PM #9740
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06-14-2022, 04:00 PM #9741
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06-14-2022, 04:02 PM #9742
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06-14-2022, 04:03 PM #9743
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06-14-2022, 04:07 PM #9744
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06-14-2022, 04:31 PM #9745
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06-14-2022, 04:42 PM #9746
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06-14-2022, 06:15 PM #9747
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06-14-2022, 06:20 PM #9748
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06-14-2022, 06:28 PM #9749
Shit, why not go back to 2013? Looks even better....but it's cold comfort to the millions who got bamboozled by Matt Damon.
Wave bye-bye to that crop of suckers and realize there will NEVER be another marketing push like the one that ended with the Superbowl. Did you see last night's NBA game? Crypto barely had a whimper of a presence. "Crypto is dead, long live crypto." Yeah, good luck with that one... Face facts, the supply of greater fools has dried up. Better keep buying that dip, stale. Its up to you to defend the $10,000 line.
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06-14-2022, 06:38 PM #9750
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