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Ok, just to make sure everybody understands. The crypto block chain 100% can be broken, there are no cryptos that I know of that are immune, it would defeat the entire point of crypto. Remember the transaction ledger and the crypto miners solving the math problems to confirm and record each transaction? Well imagine there are only 100 people crypto mining the crypto coin you want in a perfect world for all of those people to belong to different groups or organizations. The reason is because say 55 or 60 of those people want to go rogue, they quite literally can mess with the transaction ledger and change it completely. Now understand that the crypto coin owner along with the rest of the crypto miners are going to fight this hardcore, and they do. There have been a few incidents where this has caused people to lose money, but there are a lot of safe guards against that now. So bottom line is that you never want too much of one group to be confirming transactions, its better for everybody remember decentralized is king.
So since you asked about FTX, exchanges dont "really" do all the wallet and blockchain transactions like they should. The only time it really happens is when the crypto leaves your wallet to the exchange wallet or any crypto leaving the exchange. So what that means is if you send algorands to the coinbase wallet, until that crypto leaves coinbase, everything you see on your screen is more or less fake or not really representative of all the actions that "look" like its taking. I dont 100% know the exact method of what FTX did, but I assume they moved everybodys funds that was already into a FTX account, to another FTX account, then they sent those to Almeda for a loan. In theory if you were just tracking your own crypto coins, you definitely would have been able to see on the transaction ledger when they went from FTX to Almeda. The likelyhood though is so low and remote, because again your wallet still reflects the correct amount of crypto coins. Even if you wanted to sell them or move them off, FTX likely had enough actual capital to let you make that move. However once news hit, and the selloff of FTX's crypto, they are basically stuck up a river without a paddle because they dont have the required money for people to selloff FTX's crypto for the value its worth. It sucks because these guys are morons, and just like it was said here, you never keep your crypto on the exchanges for that vary reason among other things.
There was no hacking or phishing for wallet passwords as far as I know, recommendation is always to write your password and recovery seeda(just words to restore your wallet if you forgot your password)on a piece of paper that you keep in your safe deposit box.
Re: why no threads on crypto collapse?
[Re: white17]
#7717883 11/14/2210:50 PM11/14/2210:50 PM
Its the biggest Ponzi scheme in US history. It Makes Berny Madoff look like a saint.
So what really happened is Ukraine was using US aid and partnered with FTX( to invest our aid money in crypto) to then donate our aid back to the democrat party.
Its the biggest Ponzi scheme in US history. It Makes Berny Madoff look like a saint.
So what really happened is Ukraine was using US aid and partnered with FTX( to invest our aid money in crypto) to then donate our aid back to the democrat party.
Its actually money laundering.
Yup, to put it plainly in simple terms. The democrat party assisted by the republican party takes money out of our pockets in the form of income taxes deducted each week from our paycheck. This money is then sent to Ukraine, or plug in the cause of the week, Ukraine then buys/invests/spends with entities connected to the democrat or republican party by means of social/donor or family class. These entities then in turn "donate" a portion of the proceeds to the democrat or republican party in the form of campaign and PAC donations to ensure the right individuals get elected or reelected to keep the gravy train going.
WE the people are being stolen from to enrich the powerful elite.
The very thing Eisenhower warned us about long ago.
Re: why no threads on crypto collapse?
[Re: SNIPERBBB]
#7718011 11/15/2205:31 AM11/15/2205:31 AM
Not to single out anyone but was wondering if the 100,000 value will be reached THIS January since last January didn’t happen? I read one article that said Bitcoin would teach 1 million in 3 years If it does the Lotd just needs to come on back finish mankind’s run because he’s too stupid to deserve to exists!!
Re: why no threads on crypto collapse?
[Re: jbyrd63]
#7718019 11/15/2206:04 AM11/15/2206:04 AM
Not to single out anyone but was wondering if the 100,000 value will be reached THIS January since last January didn’t happen? I read one article that said Bitcoin would teach 1 million in 3 years If it does the Lotd just needs to come on back finish mankind’s run because he’s too stupid to deserve to exists!!
Nope not this January and seeing as you are calling me out I didn' say it would last January either. Just so eople who are reading know, what I said is it wouldn't surprise me if it did.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
Re: why no threads on crypto collapse?
[Re: Steven 49er]
#7718199 11/15/2211:36 AM11/15/2211:36 AM
Ok, just to make sure everybody understands. The crypto block chain 100% can be broken, there are no cryptos that I know of that are immune, it would defeat the entire point of crypto. Remember the transaction ledger and the crypto miners solving the math problems to confirm and record each transaction? Well imagine there are only 100 people crypto mining the crypto coin you want in a perfect world for all of those people to belong to different groups or organizations. The reason is because say 55 or 60 of those people want to go rogue, they quite literally can mess with the transaction ledger and change it completely. Now understand that the crypto coin owner along with the rest of the crypto miners are going to fight this hardcore, and they do. There have been a few incidents where this has caused people to lose money, but there are a lot of safe guards against that now. So bottom line is that you never want too much of one group to be confirming transactions, its better for everybody remember decentralized is king.
So since you asked about FTX, exchanges dont "really" do all the wallet and blockchain transactions like they should. The only time it really happens is when the crypto leaves your wallet to the exchange wallet or any crypto leaving the exchange. So what that means is if you send algorands to the coinbase wallet, until that crypto leaves coinbase, everything you see on your screen is more or less fake or not really representative of all the actions that "look" like its taking. I dont 100% know the exact method of what FTX did, but I assume they moved everybodys funds that was already into a FTX account, to another FTX account, then they sent those to Almeda for a loan. In theory if you were just tracking your own crypto coins, you definitely would have been able to see on the transaction ledger when they went from FTX to Almeda. The likelyhood though is so low and remote, because again your wallet still reflects the correct amount of crypto coins. Even if you wanted to sell them or move them off, FTX likely had enough actual capital to let you make that move. However once news hit, and the selloff of FTX's crypto, they are basically stuck up a river without a paddle because they dont have the required money for people to selloff FTX's crypto for the value its worth. It sucks because these guys are morons, and just like it was said here, you never keep your crypto on the exchanges for that vary reason among other things.
There was no hacking or phishing for wallet passwords as far as I know, recommendation is always to write your password and recovery seeda(just words to restore your wallet if you forgot your password)on a piece of paper that you keep in your safe deposit box.
That is pretty much what happened. FTX moved client funds into FTX wallets and then loaned those funds to Alemeda. The wire fraud rears its head at that point because FTX terms of service clearly state that no client funds will be or may be loaned without client's express approval. Since this TOS is posted electronically within the USA it constitutes wire fraud because it is obviously a false statement. IT also gives the DOJ and the SEC jurisdiction to investigate and prosecute
Mean As Nails
Re: why no threads on crypto collapse?
[Re: white marlin]
#7718236 11/15/2212:43 PM11/15/2212:43 PM
Yeah, well its unfortunate, but again for crypto you just dont really need nor should you store your coins on the exchange. Now there is some money laundering deal, I havent seen any real evidence of that, it is suspicious that there does seem to be a lot of conflicts of interest here. However, no matter what way you look at it, there almost certainly would be evidence buried in the transaction ledger. Even if we cant say 1 for 1 in terms of this dollar was exchanged for , amount of crypto coins with the serial number, we can use a general date range to track things to see where they went.
We can even look at it the ledger freeze frame really, and just sew whats going on. There are a few ways that I know of that you could technically launder, but imo there are enough "things" that LE could piece together to figure it out. Really if it did happen, I guess the tax benefit could be worthwhile but maybe thats it. Again obviously if it did happen, both parties are guilty according to the donation records.
Re: why no threads on crypto collapse?
[Re: yukonjeff]
#7718251 11/15/2201:21 PM11/15/2201:21 PM
Its the biggest Ponzi scheme in US history. It Makes Berny Madoff look like a saint.
So what really happened is Ukraine was using US aid and partnered with FTX( to invest our aid money in crypto) to then donate our aid back to the democrat party.
Its actually money laundering.
BINGO!! Worth the watch, even a Madoff involved...
Re: why no threads on crypto collapse?
[Re: white marlin]
#7718294 11/15/2202:20 PM11/15/2202:20 PM
Their balance sheet had a line item that said "Trump lose". That kid was the second biggest donor to the Democratic party this year. Not hard to draw conclusions.
Ol dad
"I season my food with hunger"
Re: why no threads on crypto collapse?
[Re: white marlin]
#7718429 11/15/2206:04 PM11/15/2206:04 PM
![[Linked Image]](8a3gq5-1.jpg)
...My favorite movie 
![[Linked Image]](http://sniperstrappingplace.com/greysig.png)
![[Linked Image]](https://trapperman.com/forum/attachments/usergals/2022/11/full-20026-157255-c6e0fbae_abd3_4bf0_b258_7e74eddd1155.png)
