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/biz/ - Business & Finance

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52448597 No.52448597 [Reply] [Original]

>news breaks that FTX, the second biggest crypto exchange, were only selling promissory notes for BTC and didn't actually hold any real BTC at all
>whole world realises BTC is even more scarce than previously thought and probably only a few "legit" exchanges like Kraken actually have any real BTC left to sell
>price goes... down?
>no buying pressure at all from all those who thought they owned BTC on FTX realising en masse that they own zero BTC and rushing to buy some more with whatever pennies they can scrape together
Can someone explain this to me?

>> No.52448624

>>52448597
>Can someone explain this to me?
Shitcoiners don't want to pump maxi bags.

>> No.52448672

Itll matter in a few years but right now, no one fucking cares about bitcoin.

>> No.52448693

>>52448597
fuck kang shartcoin

>> No.52448725

>>52448597
token not needed

>> No.52448735

>>52448624
>>52448672
>>52448693
Replace BTC in my post with any crypto on FTX then – they're all known to be scarcer now than they were thought to be last week.

>> No.52448752

>>52448597
Shit's fucked. It's like if Germany suddenly announced their entire gold reserve had been discovered to be pyrite and that caused the price of gold everywhere to tank.

>> No.52448809

>>52448597
Well you see, Bitcoin is useless and manipulated just like all crypto. That run up to 60k was fake and coordinated. Retail investors are waking up to the whole things being a scam economy.

>> No.52448858
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52448858

>CPI report comes out with the highest inflation recorded in the past 40 years

>Gold *sharts*

>> No.52448888

>>52448809
Everything the jew pawns have been is already a fucking scam. Which is basically everything which made money.
Economy is doomed.

>> No.52448891

>>52448735
demand for cyber tokens is low

>> No.52448911

>>52448597
Just because something's rare doesn't mean it's valuable jesus christ you retards are unbelievable.

Their balance sheet was just a bunch of tokens they pulled out of their ass. I mint a million tokens called faggotcoin or whatever, sell one for a dollar, then go take out a loan claiming I have 1mil in collateral.

Whole space is like this. Pull your shit off exchanges and prep to not look at it for a few years. All the last few years of mania is artificially held up by stablecoin gambling.

But you knew that, right anon? You didn't buy last november, right?

>> No.52448921

>>52448597
remember FTX was order spoofing heavily to artificially prop the price up on top of this, and investors all currently think the price will go lower so they arent buying yet.

>> No.52448940

>>52448735
this is not the conclusion average dog coin trader arrives at, more commonly he feels betrayed and the whole crypto thing is a scam. he will never go deep enough to realise NYKNYC, let alone practice self custody as that would require of him an hour of directed focus which he is not capable of. and why would he even attempt to do that if he can just take a selfie and transfer his own responsibility to SBF and whatever next face he sees in the media?

>> No.52449022
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52449022

>>52448888
>Economy is doomed.
ch-checked...

>> No.52449700

>>52448888
>>52448911
>>52449022
whelp

>> No.52449778

>>52448597
Potential buyers got rekt on FTX and are sidelined for now

>> No.52449836
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52449836

>>52449700