FTX Crypto: Tom Brady was in. Were you?

[SuperBowl4]

It is rumored that Tom and the ex were heavily invested in the now bankrupt FTX Crypto exchange. -> https://youtu.be/uymLJoKFlW8 <-> How to lose $650 Million in 3 months or less -> Tom's "boy" Sam walks away while Tom is making a video with him https://www.bitchute.com/video/S1ZaoztoQKs/ <-> Tom Brady is never done getting better ->https://youtu.be/xFZqk8k4QwQ <-> Don't miss out on Crypto - Larry David ->https://youtu.be/BH5-rSxilxo <-> Tom Brady wants a trade -> https://youtu.be/frS690KGrlQ

[Reroka]

I thought about trying my hand at it, but this is what scared me from doing so. Some shit like this is happening.

[scho63]

I never spent a penny in Crypto.

I felt it was a Ponzi scam before, feel that way now.

[Rain Man]

Originally Posted by scho63

I never spent a penny in Crypto.

I felt it was a Ponzi scam before, feel that way now.

Agreed. I recognize that some people have made a lot of money with it, but I think it's purely a timing gamble, and I don't seem to do well with timing gambles.

[Eleazar]

Originally Posted by Rain Man

Agreed. I recognize that some people have made a lot of money with it, but I think it's purely a timing gamble, and I don't seem to do well with timing gambles.

I feel like the average people who were going to make a lot of money from it already have, and it’s too late to get in on the ground floor now. Or to get in at the top of the pyramid as it goes.

[Valiant]

Originally Posted by Rain Man

Agreed. I recognize that some people have made a lot of money with it, but I think it's purely a timing gamble, and I don't seem to do well with timing gambles.

Hot potato

[HemiEd]

Originally Posted by scho63

I never spent a penny in Crypto.

I felt it was a Ponzi scam before, feel that way now.

Yep, I questioned from the beginning whether it was legal and if it was, why?

[DrunkBassGuitar]

Originally Posted by HemiEd

Yep, I questioned from the beginning whether it was legal and if it was, why?

It's almost totally unregulated

that's why something like FTX can act as a bank and make trades with the money in their depositor's accounts and also issue their own commodities

this also isn't the first time this has happened. there was that magic the gathering website that became a bitcoin bank that just kind of absconded with all of the deposits one day

[Eleazar]

Originally Posted by DrunkBassGuitar

It's almost totally unregulated

that's why something like FTX can act as a bank and make trades with the money in their depositor's accounts and also issue their own commodities

this also isn't the first time this has happened. there was that magic the gathering website that became a bitcoin bank that just kind of absconded with all of the deposits one day

What could go wrong if I put my money in a market and a financial instrument that’s not regulated, nor backed or insured by anything?

[Rain Man]

Originally Posted by Razaele

What could go wrong if I put my money in a market and a financial instrument that’s not regulated, nor backed or insured by anything?

And isn't anything real.

I saw this in an article the other day, and it's telling. It shows 311 cryptocurrencies participating in sponsorship deals with sports organizations.

311.

This is not an industry that existed a decade ago. What this tells me is that the barrier for entry is really low, and anyone and their dog can create their own "cryptocurrency". Literally their dog since some of them are named after dogs.

I recognize that I'm a trailing edge sort of guy on these things. I've missed some opportunities as a result. But I'm staying far away from this stuff. It's not real.

[jallmon]

Originally Posted by scho63

I never spent a penny in Crypto.

I felt it was a Ponzi scam before, feel that way now.

Agree, 100%. Never a penny in crypto.

[Dunerdr]

If i had enough money to invest in crypto, i'd spend it on a signed Tom Brady rookie card, then take a shit on it.

[POND_OF_RED]

I have loved watching so many people lose money getting greedy with crypto. A lot of my friends are still in denial and refuse to sell. They think it’s going to bounce back strong somehow. They don’t understand that every ****ing person in the world got suckered into investing in it at the same time so the market is completely watered down at this point.. It’s always hard to admit when you got hustled.

[Sassy Squatch]

Originally Posted by POND_OF_RED

I have loved watching so many people lose money getting greedy with crypto. A lot of my friends are still in denial and refuse to sell. They think it’s going to bounce back strong somehow. They don’t understand that every ****ing person in the world got suckered into investing in it at the same time so the market is completely watered down at this point.. It’s always hard to admit when you got hustled.

Aren't half of them blatant rug pulls anyway? It's honestly baffling how so many otherwise smart people got bamboozled by what has ended up being a bunch of various sized Ponzi schemes. Even the largest exchange has half it's worth ties up in it's own variation of "coin". The same thing could happen there at any time

[Eleazar]

Originally Posted by Superturtle

Aren't half of them blatant rug pulls anyway? It's honestly baffling how so many otherwise smart people got bamboozled by what has ended up being a bunch of various sized Ponzi schemes. Even the largest exchange has half it's worth ties up in it's own variation of "coin". The same thing could happen there at any time

Casinos and lotteries make money by selling people a brief chance to dream.