RE:Thin Air as an Asset" Investors " were warned . Investing in ridiculous unsustainable idol gods will always result in pain. It's like atherosclerosis . You feel amazing, everything is good until it suddenly is not. Same with cannabis and even some " tech stocks" A smart friend told me cannabis will eventually just become a crop. Do you know any rich farmers ? Nope. Sure enough the weed apocalypse happened . Some Tech stocks got so high in valuations you just knew it would end. And it did. I personally think Tesla will drop to near bankrupcty one day . But again if I mention this in a forum i will be attacked vehemently by the same type of horse blinder fan boys who laughed at me about cannabis and some tech. But Crypto has to be the dumbest thing I've ever seen in my investing career . You just have to find a fool greater than yourself . But as soon as the market hints at recession , the receding tide shows who has been naked all along. You always hear about the dude who timed it right and has a home in Malibu now. Not the millions who lost their shirt.
WINDGOD46 wrote: FTX the bitcoin company is roiling the markets today by going belly up and in Chapter 11, bankruptcy that is. And what about the unit holders who had invested millions of dollars in this outfit? Do they get anything for their lost investment, assuming there are some real assets that can be auctioned in a market? Not likely. Tough luck all you millionaire hopefuls out there who were sold on this snake oil and bitcoin pipe dreams. Now the only real assets left is the thin air these bitcoins trade on. I assume all these losers are rich speculators who were hoping to get richer. Let us not shed any tears for them. Good riddance of their wealth. At least if WCP goes belly up we can fill a few barrels of crude and take home for heating. With the bitcoins what can we do? Nothing