Quote from: JayJuanGee on Today at 05:27:58 AM

Quote from: philipma1957 on Today at 04:54:02 AM

Quote from: JayJuanGee on Today at 04:11:16 AM

Quote from: cAPSLOCK on Today at 02:08:16 AM

Love, cAPS

"Love?" without an appropriate disclaimer?

My have "we" drifted!!!! in recent times.

Angry

Quote from: philipma1957 on Today at 03:05:43 AM

While my friend had 100k in the exchange and is getting back 119k.

Don't be so fucking delusional. Roll Eyes

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.

"We" don't hold shitcoins in this thread, and even if we were so dumb as to do so, "we" would not admit it.

Quote from: philipma1957 on Today at 04:54:02 AM

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.

I largely ONLY care about bitcoin.. so whatever you are saying is going in one ear and out of the other.. like as if I don't have anything in my head.

#justsaying.

Quote from: philipma1957 on Today at 04:54:02 AM

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.

Lalalalalalalalalala

Quote from: philipma1957 on Today at 04:54:02 AM

but the coins now are worth 24,000 usd and when he lost them they were worth under 250 usd.

I can't hear you.

Quote from: philipma1957 on Today at 04:54:02 AM

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.

If we are back to talking about bitcoin, I will admit that I had a decent percentage of my bitcoin on exchanges prior to 2017, and little by little I reduced the percentage of BTC that I hold on exchanges, and I think between about 2018 and 2019, I had around 15% of my BTC on exchanges, and then 2020 to 2021, I was probably down to 10%, and then somewhere 2022 -2023, I got down to 8%, and these days, I am pretty sure that it is less than 5%.. but I don't want to get into details about various fluctuation that might exist from time to time.

In other words, I try to limit my exchange exposure, but I don't abstain, since I have continued to be an advocate of trying to use various bitcoin related products, even if sometimes it might not exactly be in my financial interest to do so, yet I also think that it is good to use various bitcoin related products, even if some of them might be risky to use. I am not without contradictions.

Quote from: philipma1957 on Today at 04:54:02 AM

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.

I might be a bit lost in this conversation.. and surely I understand that we are in a public thread, so it might not matter too much about whether I get it or not.

By the way, I am not even trying to be rude... it might just be a reflexive kind of thing?..

Decision to place Bitcoin in exchange is not too advisable because the moment you place your Bitcoin in exchange you are technically not in full control of the Bitcoin. Just imagine what will be the profit of the 5Bitcoin if he decided to hold it for long time considering the price of Bitcoin now in this bullish season.
A bitcoin now is worth approximately $100000, now for the 5 Bitcoin he would have been smiling with $500000 now if he had persevered to hold it for a longer time without placing it in exchange. And considering the present speculations of many investors and government indicating more interest on Bitcoin is a clear indication that Bitcoin hold more better future than what we are seeing now as a bull run of Bitcoin.