I had been out of the industry for more than 40 years and my return was due to helping out a friend who got caught by the shipcoin bubble, but in a relatively positive way. I had to learn in record time what this was all about. One of my main pillars of starting to get a grip was (and is) your work. First you schooled me properly, and now your articles confirm my incipient levels of understanding. I am grateful to have been lucky enough to find you in the first place, and just wanted to let you know that you have probably saved or that you are partially responsible for saving a huge amount of people from losing their jobs. Thank you. If you ever come to Spain, find me, let me know. I and many others owe you one, a big one. Kindest regards. M.
Great article ! I think the fundamental failure is that all the crypto players drank the coolaide and believe tokens are money, and clearly they are not. Throughout your article you reference back to dollars-and you must. This is something that was never imagined in the crypto world. When that reference number started to reduce, crypto dabbler’s started to panic and wanted their dollars (not tokens) back. The ponzi was revealed.
The evolution of tweets mentioned is astounding:
11/8: Everything is awesome!
11/9: The tiny bit of exposure we have is equivalent to loose change found in the couch
11/10: Huh, that was the biggest couch we've ever seen!
11/16: Genesis cannot come out and play now.
The crypto ecosystem makes me feel so dirty right now. Are there any adults in the room?
I had been out of the industry for more than 40 years and my return was due to helping out a friend who got caught by the shipcoin bubble, but in a relatively positive way. I had to learn in record time what this was all about. One of my main pillars of starting to get a grip was (and is) your work. First you schooled me properly, and now your articles confirm my incipient levels of understanding. I am grateful to have been lucky enough to find you in the first place, and just wanted to let you know that you have probably saved or that you are partially responsible for saving a huge amount of people from losing their jobs. Thank you. If you ever come to Spain, find me, let me know. I and many others owe you one, a big one. Kindest regards. M.
Great article ! I think the fundamental failure is that all the crypto players drank the coolaide and believe tokens are money, and clearly they are not. Throughout your article you reference back to dollars-and you must. This is something that was never imagined in the crypto world. When that reference number started to reduce, crypto dabbler’s started to panic and wanted their dollars (not tokens) back. The ponzi was revealed.
Great work Mike!
I wonder what the $350M credit facility is secured with.
Do we know which wallets collects the fees from the Bitcoin and Ethereum trusts? And if those collected tokens have been sold?