POLL What percent of your assets are invested in crypto currencies?

[GilesMM]

...

[1%]
I've bought individual crypto currencies on Gemini, which is a large US based crypto exchange.  I also like that the founders were incredibly rich from Facebook before they created Gemini: they didn't do this to get rich.
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I heard Gemini was swept up in the FTX collapse. No?

[Psychstache]

[1%]
I've bought individual crypto currencies on Gemini, which is a large US based crypto exchange.  I also like that the founders were incredibly rich from Facebook before they created Gemini: they didn't do this to get rich.

Right, because history has shown us over and over again that the vast majority of obscenely rich people make a ton of money and then say "Well, I guess I have enough money now. I should now spending my time doing projects solely for good and not bother to think about how to become even more obscenely wealthy."

[JohnnyZ]

Right, because history has shown us over and over again that the vast majority of obscenely rich people make a ton of money and then say "Well, I guess I have enough money now. I should now spending my time doing projects solely for good and not bother to think about how to become even more obscenely wealthy."

Ha ha yeah, this explanation made me laugh and I tought the same as you. It's well-known that rich people do no want to get richer, at some point they decide to just live modestly and dedicate their life and wealth to the betterment of mankind.

[Telecaster]

Ha ha yeah, this explanation made me laugh and I tought the same as you. It's well-known that rich people do no want to get richer, at some point they decide to just live modestly and dedicate their life and wealth to the betterment of mankind.

And nothing benefits mankind more than getting people to invest in a speculative, get-rich-quick scheme.  These guys are like Mother Teresa. 

[MustacheAndaHalf]

[1%]
I've bought individual crypto currencies on Gemini, which is a large US based crypto exchange.  I also like that the founders were incredibly rich from Facebook before they created Gemini: they didn't do this to get rich.

Right, because history has shown us over and over again that the vast majority of obscenely rich people make a ton of money and then say "Well, I guess I have enough money now. I should now spending my time doing projects solely for good and not bother to think about how to become even more obscenely wealthy."

Good luck avoiding billionaire CEOs investing in the S&P 500.  If you're looking for MMM billionaires, though, you could do worse than the Winklevoss Twins:

Live below your means. Even when the first Bitcoin peak took their assets to over a billion, the brothers didn't rush out to buy flashy cars. In fact, in 2018, only one of the brothers owned a car at all, and it was bought secondhand.

https://www.fool.com/the-ascent/buying-stocks/articles/how-the-winklevoss-twins-amassed-a-6-billion-bitcoin-fortune/

But I also like that their exchange is based in the US, and satisfied the strict regulaions for NY crypto exchanges.

Foundation of Gemini (2014): Since the pair founded the cryptocurrency exchange Gemini, it has built a reputation as one of the safest places to buy, sell, and store cryptocurrency. It was one of the first to be licensed by the New York State Department of Financial Services (NYSDFS). This is significant because New York has some of the strictest crypto regulations in the U.S. and only a handful of platforms can operate there.

[GilesMM]

Live below your means. Even when the first Bitcoin peak took their assets to over a billion, the brothers didn't rush out to buy flashy cars. In fact, in 2018, only one of the brothers owned a car at all, and it was bought secondhand.

https://www.fool.com/the-ascent/buying-stocks/articles/how-the-winklevoss-twins-amassed-a-6-billion-bitcoin-fortune/

If the Winklers had $6 billion in April, they have lost half of it by now and only have $3 billion between them, barely a billion each.  it may not be long before their frugality is a necessity!

[MustacheAndaHalf]

Live below your means. Even when the first Bitcoin peak took their assets to over a billion, the brothers didn't rush out to buy flashy cars. In fact, in 2018, only one of the brothers owned a car at all, and it was bought secondhand.

https://www.fool.com/the-ascent/buying-stocks/articles/how-the-winklevoss-twins-amassed-a-6-billion-bitcoin-fortune/

If the Winklers had $6 billion in April, they have lost half of it by now and only have $3 billion between them, barely a billion each.  it may not be long before their frugality is a necessity!

You've stopped relpying to me in another thread, and here you're replying to multiple posts of mine.  I'm still waiting for you to admit the following statements of yours were wrong.

When one of the largest and most trusted traders collapses in a few days without any particular explanation, ...

The entire industry is cloaked in secrecy. Just look at the name! There is no transparency whatsoever.

[ChpBstrd]

They have us arguing over the virtues of celebrities - people who use ad agencies to manage their media and social media image.

[GilesMM]

Live below your means. Even when the first Bitcoin peak took their assets to over a billion, the brothers didn't rush out to buy flashy cars. In fact, in 2018, only one of the brothers owned a car at all, and it was bought secondhand.

https://www.fool.com/the-ascent/buying-stocks/articles/how-the-winklevoss-twins-amassed-a-6-billion-bitcoin-fortune/

If the Winklers had $6 billion in April, they have lost half of it by now and only have $3 billion between them, barely a billion each.  it may not be long before their frugality is a necessity!

You've stopped relpying to me in another thread, and here you're replying to multiple posts of mine.  I'm still waiting for you to admit the following statements of yours were wrong.

When one of the largest and most trusted traders collapses in a few days without any particular explanation, ...

The entire industry is cloaked in secrecy. Just look at the name! There is no transparency whatsoever.

You seem to be focused on me. I'm focused on the issues. My views haven't changed, even though a great deal more information has come for since I posted that.  Just yesterday the new CEO said “Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here,” Ray said. “From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented.”

The fact that BTC crashed with the FTX 25% news and is still way down shows how the "contagion" is considered serious by most crypto fans.  Until we know what happened at FTX, how do we know it won't happen elsewhere?