Why Is Crypto Tanking: The FTX-Binance Drama Explained
Sam Kessler - 1h ago (11/9/2022 4:59 EST)
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Why Is Crypto Tanking: The FTX-Binance Drama Explained (msn.com)

https://www.msn.com/en-us/money/mar...g-the-ftx-binance-drama-explained/ar-AA13VLfr

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Great thread on what likely happened at FTX. If this turns out true, SBF will be in jail and you will be able to buy cheap BTC for the next calendar year. https://twitter.com/LucasNuzzi/status/1590122590206824448

 

https://twitter.com/jespow/status/1590635230553329664

 

I remember when you used to talk about The Universe talking to you, doing things for you, and how you'd trust it to help you.

How things have changed.

God is Light. You even did a webinar on it.

 

Didn't Taleb say all analysis after the fact is typical of Intellectual-Yet-Idiots?... How we love to summarize and explain after Black Swan Events.

 

We're going through a great awakening in order to realize how fat, greedy, dependent and pathetic we've become.

Some people think it's about money. But, it's not. It's about our addiction to bullshit.

We're about to hit the bottom (including, and especially Bitcoin) and those with all of the land, assets and government control are going to start dictating a hell of a lot and people are going to accept it, and worse, want it.

People are going to get really upset that they can't buy that Gucci bag that has been replacing true happiness inside them.

Meanwhile, thousands of monks are in the himalayas who have renounced all of this nonsense and live in blissful harmony everyday and will not notice a single thing because they are humble.

Back in the West - people are going to squabble and murder each other over goods like Black Friday x Zombie Apocalypse because they're completely unhinged and disconnected in every sense of the word. They're addicted to tech and they'll lose their minds when electricity is out for 12 hours a day like it is currently in Sri Lanka.

They're going to beg Klaus Schwab to put it back on and do whatever he says to get their devices and fast food back.

Sex is going to become easily solicited and Only Fans will be everybody's paycheck but it will be so oversaturated and noone will be able to make any money.

Some will resist the humility and uncomfortable existence before eventually they surrender and accept the only true thing that matters into their heart which is a relationship with God.

Further reading: The Monk Who Sold His Ferrari

 

https://seekingalpha.com/article/4503355-the-future-ftx-and-goldman-sachs

 

Mr. Wonderful sends his love. https://twitter.com/concodanomics/status/1591232063906217984

 

https://twitter.com/i/status/1591240664779743232 from 11th OCT.

 

I hope people took my warnings in May 2022 seriously. https://twitter.com/BlockFi/status/1592211934002167811

 

There is no entry from Dr @Jack Kruse on this thread concerning BlockFi during the month of May 2022. Have a read...

https://forum.jackkruse.com/index.p...ers-love-advice-or-friendship-come-here.25436​

 

That is why you should listen to the live talks I give.

 

I have found an entry on Dr @Jack Kruse site:
https://forum.jackkruse.com/index.p...riendship-come-here.25436/page-86#post-314010

Jack stated:

"Good news for Block Fi people: BlockFi acquired by SBF for $25m after raising for $5b in 2021. They aren't blowing up."​

I have yet to find a warning to Jack's paying members concerning misappropriation of funds on behave of BlockFi.

If there were other entries on Dr @Jack Kruse paid member site(s) which he posted about BlockFi, perhaps they were deleted.

However, I daily read every entry by Dr @Jack Kruse - I typically archive these onto an off-site storage. Reviewing this archive, I am unable to find a "warning" from Jack concerning BlockFi.

Dr. @Jack Kruse speaks on many live talks - Does anyone know what ones he may be referring to?

 

Dr. @Jack Kruse may not post this (he may speak about it in a live private room) - however, here's the latest from BlockFi as of November 28th 2022




Dear John,

BlockFi today voluntarily filed petitions for Chapter 11 reorganization. You will be able to find the official announcement here.

This action follows the shocking events surrounding FTX and associated corporate entities (“FTX”) and the difficult but necessary decision we made as a result to pause most activities on our platform.

Since the pause, our team has explored every strategic option and alternative available to us, and has remained laser-focused on our primary objective of doing the best we can for our clients. These Chapter 11 cases will enable BlockFi to stabilize the business and provide BlockFi with the opportunity to consummate a reorganization plan that maximizes value for all stakeholders, including our valued clients.

Rest assured, we will continue to work on recovering all obligations owed to BlockFi as promptly as practicable.

Additional information regarding our Chapter 11 cases, including court documents and claim information, can be found by visiting BlockFi’s claims agent Kroll at https://restructuring.ra.kroll.com/blockfi. Clients with questions about the process may call Kroll at (888) 773-0375 (Toll Free) or (646) 440-4371 (International), or email blockfiinfo@ra.kroll.com.

We apologize that communication with our clients has not been as frequent as you have come to expect from us. We look forward to transparency through our reorganization, and will work to keep clients and stakeholders informed as we make progress. You can find additional information about our Chapter 11 process and what this means for you in our FAQ and our blog.

Acting in the best interest of our clients is our top priority and continues to guide our path forward.

BlockFi

 

Hey @John Schumacher I hope you didn’t get REKT here. I hate seeing good folks go down in this space.

My two cents…..

If anyone tells you they can earn yield on your BTC turn around and leave. I’ve heard this for years now. Ask them where the yield is coming from….???..ask them how many halving cycles they have been through…..ask them how many hours they have put in……and ask them if there’s anything other than BTC…..you’ll get your answer.

Time horizon for minimum buy/hold should be at least one halving cycle or four years. In which historically speaking your return will far out pace any promise given by a VC funded scam.

I’m a firm believer in self custody cold storage with no multi-sig bullshit. I know that bothers many but it’s my N = 1 ....after Mt. Gox /Silk Road days.... coupled with what my automation team is finding. I have a team of programmers that are beasts when it comes to hacking anything digital. If you can’t manage 12 words……well. If you’ve ever had to have help recovering words….how did they do it…? There’s my gateway.

The beauty of BTC for me is many things….too many to mention but at the foundation is self sovereignty….with zero counter party risk or gateway to my hard earned time.

It might not work for everyone but it works for me and my circle of six…..we sleep well knowing there isn’t a fuck stick out there that can touch our stack.

 

No surprise. I've been warning for months to get your stuff off exchanges. Ran many clubhouse rooms about that very topic. May be you missed it. Mentioned it several times during live events, may be you missed that too. When Celsius went boom we ran a special for financial consults and this was all I talked about with people.

Those who did the live BTC events got the message.

 

Fidelity is now opening Bitcoin trading accounts for retail investors. Caveat emptor.

Coinbase announced today that they are no longer supporting the following shitcoins: BCH, ETC, XLM, and XRP

 

@ND Hauf
Please explain in very simple language, what Jack said in that sentence.

Did he say that he is (for months) against any kind ownership of Bitcoin?
Or something else?

............