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If crypto people are destroying other crypto people it's basically seen by much of society as beneficial mutual attrition.
by notch656a 4y ago
If crypto people are destroying other crypto people it's basically seen by much of society as beneficial mutual attrition.
- chlodwig 4y agoI don't have a lot of sympathy for those who bought into crypto looking to get-rich-quick or to make unrealistic gains for no effort ... But how many normal people bought and lost crypto with FTX because of their Super Bowl ads and celebrity endorsements? How many people thought FTX was just the new normal for investing and they should get in before getting left behind (anaglagous to to how once upon-a-time stocks made a transition for ordinary people from bucket shop gambling to mainstream investing)? Sure would be nice to read an article about normal people who bought crypto with FTX as a result of the mainstream ads and endorsements.
- jerf 4y agoDon't forget about investors who didn't realize they were investors: https://www.msn.com/en-us/money/companies/ontario-teachers-pension-plan-is-latest-ftx-investor-to-mark-venture-investment-to-zero/ar-AA14h1Zg https://www.msn.com/en-us/money/companies/ontario-teachers-p... That's not necessarily a catastrophe: "The FTX loss amounts to less than 0.05% of the pension plan’s total net assets and it remains in a financially strong position, according to a statement on the Ontario Teachers’ Pension Plan website." But, still, that's a lot of people who didn't think/know they were invested in FTX... but they were.