Since time began, Ponzi schemes have come and gone with every one of them promising it's not a Ponzi scheme because ” in this one everyone makes money and your investment will only go up if you get in early”.
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FTX: Poof!
- Thread starter rbstern
- Start date
FTX wasn't crypto it was an exchange. No keys, no coin--you have to own the keys.
But since the government controls the internet don’t they really own the keys? Not being a smartass just wondering how to access your crypto without using the internet.
You load the keys onto an offline digital wallet or you can print them out and have a hardcopy.
A lot of people use these in case of a house fire.
Thanks for the info.
com'on guy, lets commit monetary suicide.....bonds are the way to go.
Incorrect. It was both. FTX is also a coin, under the same corporate umbrella as the exchange.
EDITED TO ADD: FTX's coin is FTT.
It was at the root of the demise: The balance sheet was based on FTX's own FTT holdings, which means they were way undercapitalized to meet their depositors withdrawals when FTT value crashed.
Classic case of "don't **** where you eat".
Fairly certain one of the regulatory outcomes from this will be new laws that prohibit an exchange from having its own coins, or that of its subsidiaries, on its balance sheet.
****. my savings acct paying 3% now. looking at short term cds...
Thats what you get with imaginary currency
