It’s hard to stay away from all of that when you start your crypto journey
Discussion
Have a friend who I had to convince not to commit suicide because he lost over 100 BTC on FTX…
We argued about this for months… But he maintained he was earning 9% interest…
🥲
100 btc, Jesus Christ. I think I have no imagination of how much money has actually been stolen from people.
OMG 😳 that is hard. 100 btc 🤯
I can’t imagine how this feels.
But still. Lifetime is the only thing more precious than btc. I have to remind myself every day of that.
Hope he is doing better today. Guess it takes some time to recover mentally from that 🙏
He is spending a few months in Thailand… but has no idea how he’ll recover. He understands, there is no recourse or way to get it back, and losing $2M is rough…
He still has his family, and his kids keep him from making any impulsive bad choices.
He won’t come back from that so easily. Will take some time. That whole ftx thing opened my eyes for the reason why governments would want to regulate crypto, makes it more easy for them to steal from us.
The greed is strong with us, or our insecurities? Can’t decide which.
I wouldn’t attribute it to greed.
Collecting interest is standard practice in legacy banking.
Banks loan your money out, it’s the lifeblood of their industry.
However, Bitcoin is not regulated in the same way and there are bad players in this space, some with good intentions, but cannot weather the volatility.
I think greed. As most ppl coming for crypto are seeking becoming rich fast. Thats why altcoins are so attractive for many too
Most are just so ignorant and caught up in their fiat/brainwashed ways that they can’t fathom the concept that something better exists. Nevermind that it’s taking over the world one currency collapse at a time.