Crypto: Interesting numbers...

Interesting bit on CZ

There are a number of crypto billionaires, Sam Bankman-Friedman and of course the Winklevoss twins. There are others, but who knows what will happen if we get another bear market (crypto crash) of over 85% as in previous 2 cycles

Looking forward to another bear market to load up on bitcoin and cryptos for the next cycle

 

if we have one, no way I will miss it

 

Oh no, let's not do that. We all know Tethers are created out of thin air!

 

Correct, and if they are removed one day and any stable coin out there must audited, we will know the real prices of digital assets. And if Tether fraud is exposed and USDT is banned, there is no doubt in my mind crypto will crash.

 

Are you being sarcastic or they finally converted you?

 

Not sarcastic one bit. If the crash happens planning to invest large sums. Fake money need to leave and then we will see what crypto is really worth.

 

If you remove speculation, add taxation and regulations, what exactly is the utility of cryptos? Invest large sums? Who will be the custodian of your money? Will they be insured? There’s a lot of infrastructure needs to be built for cryptos to become a real asset class, imho.

 

poor choice of words, meant large sums of my capital for me I can afford to loose I would never invest client’s money into crypto at this stage.

I am like you do not see any Utility for crypto right now, apart from speculation and all money laundering. Does not mean there will not be in the future. That is why I am learning this tech.

 

Now i don't know if you're being sarcastic or you're stuck in the year 2013

Bitcoin is a real asset class according to Morgan Stanley

Infrastructure? Have you not seen all the infrastructure on bitcoin provided by Visa, MasterCard, PayPal, Square, Fidelity, Goldman Sachs, Morgan Stanley, JP Morgan, CME, bitcoin futures ETF BITO and BoNY, US Bank, NYDig, NCR, State Street and many more

 

@johnarb, I respect the fact that you may be the most knowledgeable crypto guy here, and I may be the least.

My opinion is that everyone is happy to make money via transaction fees and exchange conversions. Why would they not? But none of them want to custody cryptos. Can you answer me why the SEC is so against true crypto ETF? Is it because the huge amount of speculative retirement money would flow into the space with no means to custody and insure it? That is what I mean by “infrastructure”, not passing tokens back and forth.