The Most Dangerous Man in America | Asmongold Reacts
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- čas přidán 10. 09. 2024
- Original video by Ludwig, Mogul Mail • The Most Dangerous Man...
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#Asmongold
" if you can convince a stupid person that, they are smart . They will pay you for it" .
That's a great statement 👏 👍 👌
Confucius says...I mean Asmongold says!
That's an incorrect use of punctuation.
he gave everyone's money away. what a great guy.
Sorry your racist Cheeto lost
@@666hellmaiden It''s okay, we're glad he lost too. Best part about boomer presidents is they barely last 4 years anyways.
Lmao
@@666hellmaiden He is falsely accused of being racist and if you try to look for proof you can't find any but you can find proof for Biden being racist easily.
@@zoolzoo4434 lol, whining snowflake.
I can't wait to see the Internet Historian "Catch me if you can" version for this, in like 5-6 years.
"Monopoly money backing up Runescape gold" had me in stitches
Hey man Runescape gold has been keeping Venezuelan families above water for years now
A lot of people lost money because of this guy even if they didn't put money into FTX and don't even realize it yet
@@dwightmanne Yes, but even beyond that because people who invested in FTX are going to get margin called and have to dump good assets for liquidity, which is gonna tank the value of those assets. So people who have no investment in crypto whatsoever are going to get hit
@@dwightmanne US State Department Aid to Ukraine -> Zelenskyy "invests" millions of $ in US aid money into FTX -> Sam uses his backdoor in FTX to extract $1 billion dollars -> Sam is the 2nd biggest donor to Democrat Party, left-wing PAC's, and Democrat candidates
@@dwightmanne Its not even 0.05% of the teacher pensions funds. Regular traders/investors took the biggest hit.
Bitcoin is a Ponzi scheme. They were going to lose money either way
You only lose money if you sell at a loss or get liquidated in a leveraged position. Don't play with leverage and don't sell at a loss. Wait for next halving.
If you think about it he wasn’t lying about charity, he took everyone’s money away, and then charitably gave it to himself and his own company 😂😂😂 such a genius idea I should do more charity work
Don't forget hes also been funding the Biden campaign and put 40mil alone this year to it. He also friends with Bill Clinton.
Thats basically how The Clinton Foundation works.
tbh its sad but thats how charity works... well maybe not to that extend but small portion of donations go to actually things you want to donate to
@@Thalaranthey Depends on the charity. This is why you should research the charity before donating. The Salvation Army gives anywhere from 82% to 100% of donations to their charitable causes, for example. The United Way about 86%. You just have to do the research.
@@droe2570 theres almost no way of knowing for sure. i've had my own charity (with few other people from our patient association) and its just a mess theres so much that is expected from you that keeps you from helping others its nuts
that being said i dont have anything against people earning money from managing chairty. heck im considering it myself
i think that fact that 2 "billion" dollar companies discuss their business deals openly on twitter says it all
The pyramid shaped boxes he described in that interview turned out to be exactly what he said!
It's not a "Pyramid Scheme", it's a _"Three Sided Polyhedral Plan"._
Not your keys not your corn. Yet people give up custody of their keys for % return and don't wonder how they can pay such a high return.
I thought Bobby Kotick was the most dangerous man in america
Kotick is a different kind of scum, and for different reasons.
I wouldn't call Kotick dangerous, though perhaps he deserves the title.
Word!
He is if the other dangerous ones get arrested
This is BOBBYS WORLD
bobby is running a legit business though
Not your keys, NOT YOUR COINS
This. Crypto OGs know.
The best irony of it all is that old Larry is right again.
Ehhhh…..I don’t think so.
everybody above age 40 were right
I mean they went through the same shit when they were young with ponzi
even more funny is that he proved crypto right and showed that you cant give too much power into a single hand, FTX was a centralized entity like traditional financial institution, LUNA was centralized, Celsius was centralized.
All the Decentralized applications are still working properly even after the crashes
Rise is great imo (previously solrise made by solflare)
He proved that nukes and rifles are a much better backing than the screeching of scammers and neckbeards
Asmongold: "Unregulated industries attract shady people therefore let's regulate crypto!"
Me: Thinking about Enron, Lehman Brothers, Goldman Sachs, JP Morgan and in fact the entire banking industry in general. All working in a heavily "regulated" environment but still fucking over the economy more so then ever in 2006-2009 but with a taxpayer backstop. And then knowing Sam Bankman-Fried came from Wall Street and moved over to crypto with that same mindset.
In the end, if you think government regulation, which is almost entirely conceived by industry insiders being regulated, will prevent corruption and fraud you don't think like a serious adult. In fact, the point brought up with FDIC is lame. It's lame because it doesn't cover the total liabilities held by banks hence the bank bailouts of RECENT past because banks found new ways to put themselves at risk!! In fact, they haven't stop finding new ways to take on massive systemic financial risks. E.g. look at the car loan delinquencies piling up and the investment instruments used to sell those loans to investors.
Hey put a lid on that free thinking intelligence.
The system to prevent the 2008 fuck-up happening ever again had successfully been implemented. Banking is solid due to government's intervention. It was true then and it is true now. Just look at how hard it has been recently and despite everything the system holds strong. And may I remind you it is not bank's fault when some worldwide events like COVID damage the industry.
Now as for corruption, there is nothing to prevent corruption as it is simply a nature of humans. Big players will always exploit government. You can only minimize the impact of corruption, which government does regularly.
But then at least then people might get insurance instead of nothing when one guy decides he wanted to take all your money and run to Dubai. Banking was worst in the past 100 years but it actually improved overtime. Crypto is just speedrunning all the scams pulled off in banking I'm the past 100 years with 100 times the money.
@@seekittycat because you can't buy crypto from regulated brokers like Etoro and PayPal... Oh, wait. Learn the difference between an exchange and a digital asset.
So the two options are, capitalist socialism or the wild west.
I honestly don't know which is worse.
Congress sends money to Ukraine.
Ukraine puts money into the Bank of Ukraine.
Ukraine invests money in FTX.
FTX CEO uses back door to transfer money out of FTX.
FTX CEO donates money to congressional races.
Sounds to me like a hustle.
Stealing and money laundering.
So you either get finessed by politicians making regulations to benefit themselves and their friends, or you get finessed by scammers in unregulated markets.
On point
Yep. That’s so true, which is why Asmon’s unwavering allegiance to governmental regulations throughout this video is a little annoying.
@@MrThankman360 because despite their flaws these regulations are still a lot better than unregulated markets. That's undeniably the theme of what happens here and you still didn't learn your lesson lol
@@BoredMarcus only for the ill-informed and gullible.
Welcome to the human race.
22:04 I think that probably goes for most people when you get right down to it. It's a slippery slope thing. Once a person gets themselves involved with shady dealings, they get deeper and deeper and start pulling scummier and scummier plays to cover their ass. In the end it's all borrowed time like it was with the subject of this story (and so many others lately).
There were times were I felt FOMO about not getting involved in the crypto craze, but it's all unfolding like I figured it was going to, and am glad I took a pass. I don't see how it could have gone any other way based merely on logic.
Have you ever seen the movie Good Time, with robert pattinson? It primarily deals with this element of reality, we dig a hole and the only way to keep moving forward is dig deeper. Eventually you either can't get out or it caves in on you.
It was good for those that cashed out a year ago.
@@ShapeshifterOS still good for those that got in when btc was under $100 or even under $1000. Just hold your own crypto and you'll be fine.
@@mnelson1909 Still not a bad idea to cash out to collect those gains and then buy the next bottom.
Most definitely. Some people are in so deep that they either don't want to stop, can't stop (e.g., if they have associates that won't just let them "walk away", so to speak), or realistically can't get out without major consequences. You don't just leave the life of a scammer like that. On a similar note, in another video Asmongold mentioned something like this in reference to drug dealers. They go for so long and make so much money that they start getting bolder and more reckless, be it for thrill or out of ego. It doesn't mean they feel bad about their lifestyle per-say, but it's effectively a ride that someone keeps going on until it crashes.
These react videos are getting out of hands. This is asmon reacting to ludwig reacting to a video. We're three layers deep. How deep can we go?
Xqc reacts to this video and then hasan reacts to xqc's reaction
we need to go deeper!
@@rhonpen5388 I made react video on Asmon when he react to other people's videos, now he needs to react to my video where I review him on videos he reviews, you are welcom to check it it is called Thank you Asmongold
It's good content. People are here for Asmons opinion. Don't like it, move along.
The depth will be determined by the amount of views this trash level of communication is.... why dont these creators ever do actual conversations with each other on topics?? You can figure that out
The guy straight up told on himself in an interview and described a ponzi scheme lmao
Looked more like a reverse funnel to me.
FTX was a title sponsor for the Mercedes F1 team until yesterday when team principal Toto Wolfe said that he's unilaterally cancelled to contract and announced that the team's parent company Daimler-Benz is going to be seeking remedies in both civil and criminal court against the SBF and the BoD of FTX.
On top of that the FiA and the sport's commercial rights holder Liberty Media are believed to be on the verge of banning crypto companies from sponsoring teams/events by declaring that their participation in F1 brings the sport itself into disrepute.
Cant lose money, if you don't have money...
FTX was the most regulated exchange on the planet. Did not help much. Most exchanges are obviously totaly centralized like regular banks. And thats the main problem, totaly decentralize crypto and stuff like this will never happen again.
"totaly decentralize crypto and stuff like this will never happen again"
Nope.
The best way to prevent this from ever happening again is too regulate crypto out of existence.
Ftx was regulated exchange...not sure why you keep saying it isnt...
Also Bernie Maddoff's firm was regulated.
Regulation doesn't do shit but make sure normal people can't play the game
"And then we literally named him, Bank-Man.."
The negative canthal tilt on that girl's beady eyes, Jesus.
If you lost money from leaving funds on FTX it is your own fault. Exchanges are not banks, leaving crypto on an exchange is asking to be robbed.
The Netflix documentary about this is gonna be a banger
Ludwig telling people to sell all of the crypto while we are at lowest price points in years is kino xD
It's good advice, because then at least you'd recoup "some" of the money you lost when you chose to willingly exchange your real money for the magic internet libertarian sort that's not money even a little bit, and never conceivably is going to be (making the fact that it has a price tag of "more than nothing" purely the result of shared delusion, and blatant market manipulation by the extremely fraudulent "central bank" of crypto that is Tether, who just prints "dollars" backed by illusory nothing) - crypto is a market that's going to keep imploding, because the product is just actually useless, and has no future, it's the most inefficient payment system in human history, there's simply no reason for those tokens to be valuable other than the madness of crowds.
The narrative that it ebbs and falls and is all going to climb back up and "definitely go to the moon" is pure copium, those were bubbles, caused by the likes of Tether; it's not a question of "if" Tether is going to go bust, it's a question of "when", and when they do, they're taking the rest of the market they've been fraudulently propping up with them. Anyone holding crypto is the victim of a scam, hodling on indefinitely when it's becoming increasingly clear that "tHe fUtuRe oF fiNanCE" is just the incoherent ramblings of a sad, delusional cult who thinks get rich quick schemes can be the basis of an economic revolution, and that deflationary economies "are a good thing, actually" (they're not, they lead to serfdom, and robber barons), is doubling, tripling, quadrupling down on an already bad decision. They should get the hell out while the getting is good.
If You were invested in crypto because other people were, then I don't know what to say to You other than start respecting Your money.
If You were invested in crypto because You feel like it's a good idea, because You were actually interested in the topic and educated Yourself on how it is supposed to work then a liquidity crisis shouldn't bother You one bit.
@@Rendzio There's this persistent rejoinder, from the finance cargo cultists drinking the crypto kool-aid, that the only reason people are "skeptical" or "call the entire thing an obviously stupid scam that only morons could possibly fall for" is that *those* people, you see... just haven't educated themselves, and thus don't know what the crypto faithful do, that explains why what seems like obvious, flagrant stupidity that cannot possible work to any rational outside observer is, actually, a super good idea, and they're very smart for doing it.
This is always laughable: we aren't decrying how stupid the entire premise of crypto-currency and everything people are doing in that space out of ignorance, my dude, it's *because* we researched it... and it's STUPID. How it's "supposed" to work does not matter, one iota - it *doesn't* work, and the way that it's designed ensures that it actually can't. Digital currency is a thing that's not necessarily a bad idea at all, depending on how it is implemented; digital currency strapped to the side of a blockchain, coded via the mechanisms of a get rich quick scheme, and modeled after the gold standard... is the literal opposite of a good idea, that will never be useful.
Why is this dude gripping his mic like it's trying to escape his room?
Gay tendencies
22:04 often what separates good people and assholes is that the asshole acts like an asshole and the good person knows what situations will make them act like an asshole and they avoid them.
@3:03 why we love this man for all these years....
Perspective of the gods
Love you
seeing cryptobros get rolled and smoked is the ultimate schadenfreude
Aww not much could go wrong, just look at cryptoland
Milfcoin, Cxcoin, Lunacoin...
@@EscapeFromTripWire Cope
@@EscapeFromTripWire woof woof 🤡🤡
@@EscapeFromTripWire damn I wish I was on ur level
Best part is he's the second biggest donor of our current administration
How long before Hillary steps in and Sam kills himself?
@@hochhaul somebody's gotta tie up loose ends
Yeah, democrats have been getting kickbacks from all the billions given to Ukraine through this guy. He'll most likely get Epsteined now.
Source?
@@wartem I'd share them if I could. It's an easy find though, wiki, Forbes, etc. Hell there's a few videos out there of him saying how much he's donating to it all.
Crypto is basically like Runescape party hats and holiday items from back in the day. Valuable almost entirely because of rarity (enforced through the blockchain) and not because of any actual functional utility.
If it ever stopped being rare or people stopped caring about it just because it was rare, it would plummet in value.
Not exactly like in this video but the title reminded me of another video that I had to think of "The Man Who Accidentally Killed The Most People In History" by Veritasium at first I thought it was exactly that one. Hope one day theres also going to be a react to that one as well would be interesting to see that too
Danny Duncan took that “box quote” personal🤣🤣🤣
Everyone got hit one way or the other. They just don't realize it yet.
It's funny because this guy is doing the exact same thing as big gaming corps except he promised money back. The trick is to create a "rare item" in a market that doesn't exist in reality. Then you make it so you can only convert the currency one way. So you buy the WoW gold. Then buy the rare item. And everyone agrees you're never allowed to sell that item for real money or they ban your ass. And somehow gamers DEFEND this system. It's mind boggling. 70 Billion dollar scam industry btw.
I thought that this is what it’s all about.
You can get rich fast or lose it all… just because of a single tweet of a big player.😂
there is no getting rich the coins get set up as a scam, sure you might get lucky on a little bump but it wont make you rich. might aswel invest in low risk options and earn the same
@@YggKriss
Then let’s say it this way… there WAS a chance to get rich "quick“.
If you invested in Bitcoin or Ethereum early enough you could have been a multi millionaire 10 years later with the low risk of investing a few thousand dollar.
Buying a Bitcoin for 20 bucks and then selling it for 60.000 bucks 10 years later was possible and lots of people got rich.
Of course today you won’t make any money with crypto if you aren’t already rich… and most of the new coins and crypto trends are just a scam to make the guys rich who created them.
But people still hope to join the next big thing and don’t want to accept that those days are over.
@@YggKriss make your money in the market you understand best easy
Yep I lost 500,000 just because the Brexit vote circa 2016 suddenly took an unexpected turn 2 hours before the end of the trading day on a Friday....and I had some options expiring that were doing quite well.
1 problem an NFT can solve? Not having an NFT.
I prefer FFXIV to FTX. 😂
Based
Sam had gold in his hands, all he had to do was not be stupid.
Not sure why anyone thinks that they can get away with shady shit in the information era, especially shit that is easily seen.
I think he would have gotten away with it. His astroturfing image and vaporware company both doing well. All he had to do was shut up and eat his food. But nope as usual he wanted to throw rocks and be the big man regulating crypto.
The Most Dangerous Man in America is also the stupidest in the world? sounds legit.
its an unregulated market, people comin after you or a massive event taking place become hard to process.. You have to make moves.
It's funny how people don't see the exact deja vu between this and Theranos.
They were both involved in Democrat campaigning as well as plastered on magazines as the next "warren buffet/steve jobs" with ivy league backgrounds to boot. Both were visited by previous vice presidents and Democrat politicians guaranteeing their efficacy (this is the important part). Heck FTX even donated tens of millions to Democrats.
Your pattern recognition is quite frankly pisspoor if you don't see how you are getting played on purpose once there is political stench involved. Sam did this intentionally as did Elizabeth Holmes. It doesn't take a genius to see how. Investors should watch out for signs of political BS before going into it. Honestly.... people deserve it for not doing due diligence if they fell for the obvious bait.
Nft for example your airliner ticket would become an nft specifically tagged to you on a trustless system, a concert ticket would become an nft. A security for a company would become an nft. A bond would become an nft, a mortgage would become and nft. All an nft does is take a real world commodity and digitize it without the capability of it being duplicated illegally
when a guy with that amount of money is with a girl like that.... we are fucked up
When a multibillionaire decides to date a 2/10, then you know the world is doomed.
C'mon guys, Cryptobros are just doing some reverse crowdfunding.
Moral of the story, never trust a Vegan!
I don't trust anyone who tells me they're a vegan and yet still looks like that.
Giving my money to a dudebro who deals in super volatile “””asset””” sounds like a great fucking idea, amirite? Lmao
Imagine keeping your crypto NOT on cold storage like nano ledger or d'cent wallet
I literally thought it was H3H3 from the thumbnail lmao
gary gensler is the problem of all this crypto problem
wow what an embarrasment, Asmon has actually less than 0 clue about crypto, but still talks like hes smart about it omfg
I mean the idea they have of banking is not really up to speed. Many banks that had liquidity problems in 2008, because they were giving money to others they weren't supposed to, could not give money back to people who had money in them.
Governments had to intervene with loans to fraudulent banks, which essentially means tax payers had to loan the money to the banks so they can give the money back to the tax payer. In some countries, some of that debt was pardoned even, which meant tax payer money that was lost. The big difference here is that in crypto you do not have a higher body of authority that forces the use of everyone's money to bail out fraudulent actions, while many of the people (not all) responsible for those actions got rich.
Makes me feel good that I got baited into a ponzie many years ago. I did it out of desperation like many others. $500 life lesson
I hope that you are doing better now.
@@TheXxdarkangel10xx sux. Life goes on!
Now you only need to look at the politicians this group was donating to.
Ladies and gentlemen.... WE GOT HIM!!!!!
the reason they can ftic insure your money is because they can always just print more of it anyway. Cant print more BTC and these crypto exchanges also dont have access to free central bank money YET
"We went through the bank runs 100 years ago"
And in 2020 the amount a bank needs to have in reserve (fractional reserve banking) went to 0%. So another bank run might still happen, since banks now don't require any liquidity whatsoever.
"Baldcoin!" I see you RonniePickeringUwU. LOL
Asmon keeps blaming this on crypto when the main issue here is a centralized entities (who can be easily regulated, and should be), are scamming people. There's no actual problem with someone holding bitcoin in their own wallet. The problem comes down to allowing exchanges to hold it as a company, the same as allowing a bank to hold your money.
yeah idk, people just love to find excuses and reasons to hate crypto and go ''See, I told you this was dumb'' when that wasnt even the entire point.
What a week for KiraTV to be travelling. As soon as the man hops on a plane, all of crypto starts burning down.
I read exact same case in manga Eminence in shadow when there was a doubt in MC's bank and every customer came to the bank to return their money but the problem was is that they didn't physically had all that money in the moment so they run in trouble. And what's funny is that if every customer of bank will do the same now bank will run into the same issue due 😅. But now it wouldn't be a problem because banks can just loan needed amount money from FRS.
It would still 100% a problem if everyone tried to get the funds they have.
@@narhwallord6985 Yeah, but not unresolvable. And also it's near impossible to happen IRL situation
@@narhwallord6985 I worked a little bit as a crypto trader and you know what my couch said? "Every crypto is a scam, we just trying to milk that sht until it's completely broken" And I 100% agree. That's why we were traders and not investors 😂
Correct. This is 100% how all banks works. If everyone took out all their money for a specific banks, that bank will go bankrupt. These crypto exchanges just don't have the backing of a country than can just print infinite money. This isn't just a problem with crypto its problem with all money not backed by anything tangible. We shouldn't have go off the gold standard.
The second a person flys private they can’t be a Robin Hood type
I don't own any crypto myself but one thing I noticed over the last few years....
Massive corporations and governments were completely anti Crypto, almost hostile even, until NFTs were developed and until this dude showed up...then it was some mad dash to try and make "their" forms more appealing. The same entities who were hellbent on it's destruction just a short time prior, were now acting like they were always in the game, pushing these exchanges and NFTs incessantly. How many huge corporations have you seen recently who were anti-crypto 5-10 years ago now trying to offer their own NFT? Even when market trends prove 110% of the time they are despised by consumers...they still pushed them...and still push them.
Something tells me you won't see any corporation developing an NFT any time soon now....something tells me FTX was somehow part of the illusion of NFTs as well.
This was NOT a crypto problem. FTX was NOT decentralized, transparent or even on the Blockchain.
FTX was run exactly like a bank, using fractional reserves.
This was a banking issue, and the exact same thing would happen to any mainstream bank of there was a bank run, and has happened in the past.
The only difference is banks got government bailouts to survive and make customers whole.
Successful people don't become that way overnight. What most people see at a glance wealth, a great career, purpose-is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life..
People are scared of investing because of high rate of scammers in the market.
But of a truth They are scammer's but real broker are out there too waiting for investors
So don't be scared of giving any one a try
A friend that I referred to him just received $7050 profit after 10 days of investing...I became jealous... Lol
I really love him reviews how do I get in touch with him please? I will appreciate if I would get linked up with him
Everyone misunderstands what sbf was saying on that podcast. Hes talking about defi yield farming not his own exchange.
He is/was also the 2nd largest donor to the democrat party.
Why is he holding the microphone like he's singing on a stage at a concert.
I love how he wanted to be a humanitarian, but gave a couple billion to the DNC. My hero.
Invest in gold, food, guns and jack daniels as they will never lose value.
I appreciate how honest Asmon is about his inner scammer.
Bruh, Sam didn't f*cked up.. He got caught! 🙃
Watching asmongolds videos is actually very good in terms of information. :0 I'd have never known these things if he didn't put out videos on them.
@@fuzzjunky he's got more info then me and he's entertaining. Quit being an ass, and if you don't like him, don't watch him
@@fuzzjunky then what is it
he's only spreading misinformation about the web3 and blockchain industry. Don't fall for it...
The banking system is doing the exact same stuff, even more extreme. Its called "fractional reserve lending".
Asmon cmon bro. Don't you remember 2008? Why are you stumping for the criminal bankster regulators? Your smarter than this. ❤️
Runescape gold definitely worth more
I don't think this guys going to live for long the sheer amount of people this guy pissed off someone is bound to pick him off
Looks like Ethan Klein's brother.. same tribe though
I don't think asmongold reads these comments, but he needs to refresh his knowledge of decentralized. Nothing or nobody in this story is decentralized. In fact binance, ftx, coinbase you have have heard are a cex. This stands for centralized exchange, right there in the definition!
Their balance sheet showed that they didnt hold any Eth or Bitcoin at all, which means they sold IOUs instead of actual crypto.
That way the crypto sold and bought on the platform does not affect the real price of the crypto.
Thats exactly how a lot of stock exchanges run the shit, you do not own a stock until it is directly registrered in your name (through services like Computershare).
bald boomer reacts to full hair toothbrush zoomer
It should also be clear that what went bankrupt is the company, FTX, because their holdings were high risk and stupid. ANY company that invests and holds assets like this is just as stupid. This is related to FTX and FTT, and has LITERALLY NOTHING AT ALL TO DO WITH CRYPTO. It has to do with one project and one stupid scammer. It's the difference between Enron and Walmart, but has nothing to do with the technology itself, only one application of that technology. Super important distinction that's being misunderstood here.
The only thing I disagree with is "the cracks are beginning to show"
The cracks were evident from the beginning when bitcoin original was released. These values are quite literally a Ponzi schemes where it only maintains as long as more people are investing in it (Social security, stock exchange today and in the 20's) but especially so in the case of bitcoin because its only tangible value was buying drugs off the Silk Road whereas you can support yourself with SS's government backed currency (SS is a ponzi scheme still, look at how much in debt we are to just that if you want to balk lol) and stock exchanges will block mass selling/you can get bank loans with their "value" and a few other mechanisms meant to prevent the value from plummeting to 0 overnight
All of these systems are built purely off of consumer confidence and the only difference with centralised systems are some measures to slow down the bleeding and give some form of guaranteed liquidity. Even now ALL of Crypto operates like a Ponzi scheme but our education sucks cock across the whole West and people were and currently are being duped. It's a stupid get-rich-quick scheme that comes with a potential hefty cost and was plainly obvious
isn't the point of crypto to have total control over your money and therefore having it a wallet controlled by anyone else is pointless?
I'll just keep holding what little I put in for the next 20 years.
I'll see how it ends up then. I don't really care if I lose that.
He did give away his money to charity. A stripper named charity.
Would Sam have been able to go on a cruise to a diff country, got off, and then flew from there? That would of been less suspicious lol
Imagine being so blinded by greed that you could trust this guy.
Yeah we solved bank liquidity by printing money
He said he fucked up because he can please not lawful action
FDIC is meaningless. The only difference between FTX and U.S dollar is confidence. If people lose faith in the dollar the same way confidence was lost in FTX and that leads to bank runs, the bank system will collapse in the same way. They operate on the same Fractional reserve system. Confidence is all that matters.
Bro wtf, someone give Ludwig a bottle of water already...
Upside graphics cards will be selling used cards worth 1,000's for pennies on the dollar
I highly recommend people watch margin call. To quote them you gotta be first, smarter, or cheat.
SBF thought he was smarter than everyone else. He made a lot of money by setting up a bank account in Japan, selling BTC in Japan then moving arbitrage profits back to america where he'd use it to buy more btc. He took this mentality into FTX. FTX fees profit was not enough for him so he tried to trade up and make more, but he lost a lot and backed all his loans using his own token. We saw massive on chain trades happen about 9 months ago and they said they were just testing the new system which is bull shit. I always avoided FTX and never touched it.
ya i mean asmon this guy is just a ninja looter. he tried to just leave the raid real quick
I love how everyone is acting like “no duh, I knew this was gonna happen”, but never would have said that in Dec 2021.
It's Crypto, everyone who is not suckered in by crypto knew shady bullshit like this was inevitable.
dont worry, the sentiments and these kids will all be fomoing back in at the top C.A 2025
@@bjni No they won't, and the mere fact that you're using that sort of sales tactic is all the evidence that actually smart people need to determine that what you're advocating for is a SCAM.
Where's waldo, crypto edition
9:26 That's true for government issued currencies too, if people started selling a shit ton of USD people would freak out and the dollar value would fluctuate like crazy too.
It's just a lot more stable because it's used as a main currency in a country and has several other things going for it too.
We need to get a refresher on the fuck around and find out chart.