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Yes, you can take huge risks within the law if you want, and if you do, have fun! You're probably going to lose it all at some point soon. Cryptocurrency/Web3
by pclmulqdq 4y ago
Yes, you can take huge risks within the law if you want, and if you do, have fun! You're probably going to lose it all at some point soon. Cryptocurrency/Web3 has had a lot of actual fraudsters and thieves, and a lot of them deserve jail time. Hopefully, some of them will get some.
By the way, expanding on the arbitrage I mentioned, the Kimchi arbitrage was a well-known trade and the big players in cryptocurrency weren't doing it for good reasons. South Korea's capital controls and anti-money laundering laws would make it very difficult to do legally without risking your other trading operations in the country. SBF was brazen enough to go for it (and risk-tolerant enough to carry a huge number of Bitcoins on his balance sheet for the ~week it takes for them to actually move) and it worked out well for him. In retrospect, it revealed a lot about his personality.