Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Love, cAPS
"Love?" without an appropriate disclaimer?
My have "we" drifted!!!! in recent times.
While my friend had 100k in the exchange and is getting back 119k.
Don't be so fucking delusional.
Let's stick with BTC for just one second, since that happens to be the topic of this particular thread.
If anyone was holding BTC on FTX at the time of the bankruptcy filing (November 11, 2022).. let's say such person had 5 BTC that was on FTX at the time of the filing, which would have had been slightly less than $100k at the time of the bankruptcy filing, that person with that quantity of 5 BTC on FTX at the time of its bankruptcy filing is going to be receiving $119k-ish in dollars in the coming days/weeks (early 2025). ..
Do you think that such 5 BTC person is getting some kind of a windfall because such person is going to be receiving 19% higher than than the $100k dollar value that they held at the time that FTX filed their bankruptcy petition? Snap out of it, and fuck that nonsense.
What do you consider 5 BTC to be worth? Yeah, the person using that FTX exchange was not holding actual bitcoin since they are likely dumbasses for holding BTC in that scam of an exchange, but still, does such person deserve such punishment, and do you think such person is getting any windfall merely because the exchange is claiming to currently be paying 19% higher than dollar value of the asset (in this case BTC) at the time of their (a little over 2 years ago) bankruptcy filing?
depends on what coins you were holding.
He was not holding any btc at that place. The coins have more value than he is getting. He should be getting closer to 200k if he was getting the exact amount of coins he lost.
One can argue all you want about what should or could be fair.
This same friend also lost coins at the new zealand exchange. He is only getting 60,000 doge coins of the 100,000 that he lost.
but the coins now are worth 24,000 usd and when he lost them they were worth under 250 usd.
Soalll in all one can argue that the two exchanges helped him hodl. Or one could argue they stole 40,000 doge in the newzeland exchange and I think he had ltc on sbf, not sure how many.
To me if you are placing coins on exchanges you are not a holder in general.
All in all he almost got back more than the fiat value he lost . Maybe even if you count the damage inflation did to fiat he is still ahead.