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In reply to the discussion: Bitcoin tumbles more than 50% below its all-time high as crypto plunges again [View all]Lucky Luciano
(11,257 posts)
they cash out some bitcoin to not go broke. The correlation makes a lot of sense.
Look, I play along with betting on bitcoin here and there, but ultimately I think its stupid and I would like it to go to zero just to tell the fanbois to stfu. They need to be taken down 10 notches for thinking theyre geniuses because gambling happened to work out. That said, SBF was genuinely smart with bitcoin. He did a real arbitrage over and over because he put in the work and didnt have to give a shit about bitcoin itself other than hoping liquidity stayed high for long enough to execute the arb as often as he did. The arb did require considerable operational effort. I can respect that as being smart. I cannot Respect some dope who got lucky buying Shiba coins.
Not sure why Satoshi, some random anonymous person, gets to create money.