[ExI] bitcoin again

[Stathis Papaioannou]

On Sun, 27 Nov 2022 at 02:18, spike jones via extropy-chat <
extropy-chat at lists.extropy.org> wrote:

>
>
>
>
> >…SBF’s model was that of tech startups burning up venture capital. The
> investors in such enterprises understand that they might make massive gains
> but also that more likely than not they will lose all of their money…
> Stathis
>
>
>
> Ja Stathis, you might be right.  But needle on my BS detector slammed
> against the peg on Sam Bankman-Fried for reasons having nothing to do with
> cryptocurrency, as it does with the guy in the article linked below, sent
> to me by a friend who knows I am interested in cryptocurrency exchanges.  I
> don’t know this “news” source so it might be a more subtle version of the
> Babylon Bee, a parody in which someone is making up stuff and having fun
> with us (while selling ad space for a living.)
>
>
>
> My same stodgy prejudices which stopped me from trusting Sam Bankman Fried
> is even more suspicious of this CZ Zhao character, because he just seems
> like a classic Bond villain who is still trying to pretend he is trying to
> save the world.  If guys would just come right out and say they are going
> to make a bid to own all cryptocurrency exchanges, from which he plans to
> eventually own the planet, all while throwing in the occasional
> muwaaaahahahahaaa, perhaps a Doctor Evil threat or at least a Montgomery
> Burns finger tent affectation, I would trust the guy more.  At least I
> would believe him.  Plenty of people want to own the planet.
>
>
>
> In this article, CZ comes across as some wannabe white hat riding in to
> rescue the cryptocurrency exchange industry.  Rescue it by buying it all
> perhaps.
>
>
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> I am a total cryptocurrency exchange virgin, never owned their stock or
> any digital currency (even while recognizing the necessity of exchanges and
> the necessity of decentralized digital currency) so Stathis and the
> hipsters (hey I like the ring of that phrase) do feel free to offer your
> take on this article, which (guessing by their choice of advertising) might
> be a parody:
>
>
>
> "There Will Be Pain" - Binance's 'CZ' Floats Billion Dollar Bailout For
> Distressed Crypto | ZeroHedge
> <https://www.zerohedge.com/crypto/there-will-be-pain-binances-cz-floats-billion-dollar-bailout-distressed-crypto>
>
A few months ago SBF was saying much the same things: crypto lending
services were in trouble, but FTX was solid, overflowing with money, and
would save the crypto world. It turns out that the reason he was saying
these things was that he knew FTX was in trouble and wanted to boost
confidence so that the value of the FTT token securing loans would be
maintained, customers would not withdraw their funds and maybe more VC
investors would invest in the company. It was working until CZ decided to
publicly declare that he would crash the price of FTT he held (which was a
lot, from a previous deal with FTX) by dumping it all.

>
> <https://www.zerohedge.com/crypto/there-will-be-pain-binances-cz-floats-billion-dollar-bailout-distressed-crypto>
>
-- 
Stathis Papaioannou
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