how was lose to mtm of portfolio vs operating pnl? he’s never been a fan of investment banks. If you’ve ever worked with one, you would understand. On the other side, he would rather not have a bank on the other side of a deal because they will squeeze him for more.
I strongly disagree with this. Sure you can have futures contracts allowing traders to make money off Bitcoin without holding it, but the fact that every last satoshi has to be shown where it is, and can't be counted twice, means that it will be impossible to manipulate in the long term. With gold, we really don't know who has what, and with all the trading around paper gold, we also are in the dark. When bitcoin gains even more acceptance, the idea of holding "paper" bitcoin will become too risky. Nobody will trust someone who says they have it, unless its shown on the blockchain. These games played today with short squeezes and tons of leverage I think will be too difficult to do because wanting physical delivery might be impossible for those playing games to carry out. It will come down to either having bitcoin in your offline wallet or not having it. And it will all be on the blockchain for anyone to verify. You can't come close to this with gold.
ive not read any stories of him cheating or trading on inside information. He’s cut some pretty sweet deals for himself (like the Goldman one in 2008) but that was him selling his reputation for equity. Nothing dishonorable about that. I am a fan of warren buffet. He is the case study in how to maximize your potential. Purely brilliant how he has manages his career.
It would be cool as hell if Bitcoin would go that low but it won't. I need to reload and there is no way it will go anywhere near there
A 1.58 billion loss, after a 5 billion gain, is still a huge profit. Are you sure he's cranky about it?
One could say a whale (pun intended) is an apex creature, but its actually the shark. Nothing nice about sharks but they get the job done.
Every time I pray for that, someone gets mad at me for wishing that There were a couple times where ETH fell to the 2400-2200 market level this year. As I had warned, that firesale may not last very long, and it didn't. Those who delayed watched the opportunity run away, just like they did when the fire-sale happened weeks before the EIP1559 update came out. Best those can do now is HOPE that the Nasdaq tech-wreck continues, and spawns massive margin selling in crypto to meet margin calls on Nasdaq. It is very possible that opportunity may arise, but no guarante.
I'm not up to speed with crypto like you guys, but I was thinking in terms the majority of bitcoin is held by a few whales who can push it around (maybe).