12 ms·

Sorry to hear about your losses. Can I ask, what was the reason you favored FTX for crypto investment?

by jacquesc 4y ago

miohtama 4y ago
FTX offers one of the best exchange engines and trading experience. High quality UI, APIs, etc.
xwolfi 4y ago
He enjoyed SBF personnal guarantees that the funds were "safu".
- alex_suzuki 4y ago
  that was CZ, the CEO of Binance… but I guess you knew that
  - xwolfi 4y ago
    Yes, SBF is more into funding rounds with 69 investors for 420.69 bn$, so I supposed they were into memetic all the way ...
- hmate9 4y ago
  Your use of memes is incorrect and it must be a great life to find satisfaction in another persons huge loss :)
  - Lionga 4y ago
    When SBF tweet that "FTX is fine. Assets are fine" that must have been warning enough. Exactly what LUNA and Celsius said. Can't make a warning more clear.
  - renonn 4y ago
    i’m sorry your unproductive financial speculation didn’t work out
hmate9 4y ago
They had the best API offering so that’s where I started with small funds. Ramped it up to a great significant amount. Didn’t see any early signs that I should withdraw. They’ve raised billions, they’re making millions daily from fees, CEO is looking to donate a billion dollars to politicians etc. I truly underestimated human greed where making 7 figures of profit A DAY is not enough and you still gamble with user funds. Luckily I’m still young enough and don’t have a family and I am confident I can rebuild but man, it definitely stings.
- sgt101 4y ago
  I'm genuinely sorry for you, but impressed by your attitude. Good luck.
- WXLCKNO 4y ago
  > I truly underestimated human greed where making 7 figures of profit A DAY is not enough and you still gamble with user funds. This is the mind boggling part to me and many others like you. How do you mess up this bad when you were on top of the world and a billionare before age 30? Was it really not enough? Not sure which exchanges are sane anymore these days, you can rule out pretty much anything with it's own token as being too high risk, including Binance. Coinbase went too big too fast and we saw extreme greed with them going public. Kraken seem cautious overall, taking fewer risks and doing things the right way? Hard to say for sure.
  - chucksmash 4y ago
    FWIW, the only exchanges allowed to do business with NY residents are (were?) Coinbase and Gemini. Perhaps worth looking at what the barrier to doing business is there. As other exchanges go toes up, it makes me think whatever it was might have been more useful than the kneejerk "ugh, probably some stupid government paperwork" one might first be tempted toward.
  - jasonwatkinspdx 4y ago
    My personal crackpot theory is a lot of these people become addicted to the gamble, so following a simple sure thing plan is actually a huge turn off for them. I definitely think you see this in Elon's recent behavior, where even if he ultimately took the same strategic actions, just a tiny bit of restraint in the execution would save him vast sums of money and headache.

Sorry to hear about your losses. Can I ask, what was the reason you favored FTX for crypto investment?

miohtama 4y ago

FTX offers one of the best exchange engines and trading experience. High quality UI, APIs, etc.

xwolfi 4y ago

He enjoyed SBF personnal guarantees that the funds were "safu".

alex_suzuki 4y ago
that was CZ, the CEO of Binance… but I guess you knew that
- xwolfi 4y ago
  Yes, SBF is more into funding rounds with 69 investors for 420.69 bn$, so I supposed they were into memetic all the way ...
hmate9 4y ago
Your use of memes is incorrect and it must be a great life to find satisfaction in another persons huge loss :)
- Lionga 4y ago
  When SBF tweet that "FTX is fine. Assets are fine" that must have been warning enough. Exactly what LUNA and Celsius said. Can't make a warning more clear.
- renonn 4y ago
  i’m sorry your unproductive financial speculation didn’t work out

hmate9 4y ago

They had the best API offering so that’s where I started with small funds. Ramped it up to a great significant amount. Didn’t see any early signs that I should withdraw. They’ve raised billions, they’re making millions daily from fees, CEO is looking to donate a billion dollars to politicians etc. I truly underestimated human greed where making 7 figures of profit A DAY is not enough and you still gamble with user funds. Luckily I’m still young enough and don’t have a family and I am confident I can rebuild but man, it definitely stings.

sgt101 4y ago
I'm genuinely sorry for you, but impressed by your attitude. Good luck.
WXLCKNO 4y ago
> I truly underestimated human greed where making 7 figures of profit A DAY is not enough and you still gamble with user funds. This is the mind boggling part to me and many others like you. How do you mess up this bad when you were on top of the world and a billionare before age 30? Was it really not enough? Not sure which exchanges are sane anymore these days, you can rule out pretty much anything with it's own token as being too high risk, including Binance. Coinbase went too big too fast and we saw extreme greed with them going public. Kraken seem cautious overall, taking fewer risks and doing things the right way? Hard to say for sure.
- chucksmash 4y ago
  FWIW, the only exchanges allowed to do business with NY residents are (were?) Coinbase and Gemini. Perhaps worth looking at what the barrier to doing business is there. As other exchanges go toes up, it makes me think whatever it was might have been more useful than the kneejerk "ugh, probably some stupid government paperwork" one might first be tempted toward.
- jasonwatkinspdx 4y ago
  My personal crackpot theory is a lot of these people become addicted to the gamble, so following a simple sure thing plan is actually a huge turn off for them. I definitely think you see this in Elon's recent behavior, where even if he ultimately took the same strategic actions, just a tiny bit of restraint in the execution would save him vast sums of money and headache.