Post
Topic
Board Speculation
Re: Bitcoin recent boom tracing back to Mt Gox + FTX/celsius/terra
by
STT
on 22/01/2023, 19:20:03 UTC
FTX is not important enough, Im sure I was supposed to be knowledgable about all their stuff but to me they were just another player.  Now they are gone I see no reason why it must alter everything for the rest of us, BTC isnt propped up like that reliant on a website or person for their personal integrity.  Predictably, the security of both was lacking and failed those who trusted in it.
  Way back Mt.Gox did have an alarming dominance in BTC, very different and long beforehand pointed out this towering wobbly leaning empire was about to fall and the negative it would be.   We also did have a number of incorrect factors at that time, I think one BTC mining pool was nearing 50% or maybe it was a bit lower but either way it was far too dominant to be called a safe scenario.   Hopefully BTC has progressed in good times and bad to be more distributed with many legs not just one to stand on for any number of vital trading flows every day.