Semi OT: Anyone lose money in the crypto crash?

[C Court]

I don't need crypto. As my wife says, I am very good at losing money the old-fashioned way.

Speaking of FTX, you have to assume that FTX's $130 million arena naming rights deal with the Miami Heat is worthless and that MLB umpires won't be wearing FTX patches in 2023. When will the FTX name come off the Heat arena and off the court?

[KL78192020]

I don't need crypto. As my wife says, I am very good at losing money the old-fashioned way.

Speaking of FTX, you have to assume that FTX's $130 million arena naming rights deal with the Miami Heat is worthless and that MLB umpires won't be wearing FTX patches in 2023. When will the FTX name come off the Heat arena and off the court?

Could be quick depending on what the payment schedule was. Mercedes F1 team has already removed FTX.

https://www.espn.com/f1/story/_/id/35001911/mercedes-f1-team-suspends-partnership-ftx

[links135]

I've never touched crypto, but in 2019 I put $300K into real estate and cashed in this year for over $500K. Even without the unintended magnifying effects of COVID, real estate is generally a good investment.

While true cough 2008.

Although that was less real estate, and more banks lying about junk bonds through bribes to make them AAA investments, screwing over city and state pensions all over.

[Agimat]

My mentor loses millions of dollars, but it doesn't bother him as much since he doesn't rely only on one source of income. I personally don't since I'm too late in the game and too volatile, but I do own some business assets.

[Got Nuffin]

Yes lost a chunk of money in the recent crash.

But if I'm being honest it's still worth way more than my initial investment in it (about triple) so I obviously have no regrets about putting money into it. Even if it doesn't recover to it's previous highs I've still come out of it well for now.

I guess the only question is should I still have faith in this long term? There is a really good chance I will always regret not selling a couple of years ago when it reached crazy crazy heights.

Nervously holding for now I guess.. I'm in too deep!

[canz55]

I'm down a lot. More than I would ever admit (50k buy in from March).

But you only lose if you sell.

Sent from my SM-G998W using RealGM mobile app

[will]

My brother is big into crypto but put a lot into "stable coins" when the market began to crash, so his investment is kind of ok. He's a lurker here and tWo member.

tWo, bayybeeeee!!!!!!!!

[will]

I had the choice of investing 200000 in crypto 5 years ago or buy a farm in the Philippines through my wife who is a Filipina citizen. I bought the farm now have livestocks and crops on a 10 acre land, best investment I ever made.

Got that unlimited lechon, my guy!

[will]

Tom Brady with the CEO of FTX.

Read on Twitter

Read on Twitter

Thomas Brady using some of his JUCO money for play play with FTX.

He'll be aight.

[will]

Tom Brady with the CEO of FTX.

Read on Twitter

Read on Twitter

Not a good year for Tom Brady

The man has been freed from the anchor of Giselle.

That in itself is a massive win for Thomas.

[will]

I don't need crypto. As my wife says, I am very good at losing money the old-fashioned way.

Speaking of FTX, you have to assume that FTX's $130 million arena naming rights deal with the Miami Heat is worthless and that MLB umpires won't be wearing FTX patches in 2023. When will the FTX name come off the Heat arena and off the court?

Could be quick depending on what the payment schedule was. Mercedes F1 team has already removed FTX.

https://www.espn.com/f1/story/_/id/35001911/mercedes-f1-team-suspends-partnership-ftx

That FTX sponsorship for Mercedes F1 was akin to FVV's drive's into the lane with a defender. Useless.

[Lateral Quicks]

I never saw any value in crypto, so I've steered clear.

[Kevin Willis]

No. But it **** up the entire DIY PC market, so indirectly I now have to pay more money for computer parts.

Building a new high-end PC would have cost me less than $2000 in 2017. It now costs over $3500 (the GPU alone costs over $2000 now, whereas a top-of-the-line GPU was $800 pre-crypto). Even though crypto is dead, GPU makers aren't about to drop prices.

How come? I was looking to build a PC this year but if that's the case I can wait.

[C Court]

FTX name is coming down asap. Will still be up for tomorrow's game vs Charlotte and will be gone shortly after.

Read on Twitter

[Basketball_Jones]

I have like 100 bucks in my chequing account I’m good

[Raps in 4]

No. But it **** up the entire DIY PC market, so indirectly I now have to pay more money for computer parts.

Building a new high-end PC would have cost me less than $2000 in 2017. It now costs over $3500 (the GPU alone costs over $2000 now, whereas a top-of-the-line GPU was $800 pre-crypto). Even though crypto is dead, GPU makers aren't about to drop prices.

How come? I was looking to build a PC this year but if that's the case I can wait.

Because cryptocurrency is (or now, was) "mined" using GPUs. Mining farms would buy tens of thousands of GPUs at a time, leaving limited stock for retailers. Since demand was many times higher than supply, price skyrocketed, but people were willing to pay those prices. Now that crypto mining is dead, Nvidia and AMD have decided to just freeze prices at crypto levels because why not? If people are willing to pay those prices, they'll just make them the norm.

[hype_2004]

I had the choice of investing 200000 in crypto 5 years ago or buy a farm in the Philippines through my wife who is a Filipina citizen. I bought the farm now have livestocks and crops on a 10 acre land, best investment I ever made.

Even after the crash you'd still be up over 100% if you invested in bitcoin. At the peak of the hype train your investment would have made you a millionaire.

Not saying you made a mistake. 200000 is a lot to invest in any single sector and a lot to risk on something as volatile as crypto. You probably made a wise choice.

That's fine planning to retire there in a few years and just live off the land, you can't eat crypto.

[JN]

Crypto >>> Raptors D

[Double Bubble]

There's a bitcoin investor who comes through a cigar lounge I hang out in, often fresh off one international business trip after another, kicking back smoking his expensive stogies. Well, the change in the guys demeanor over the past year has been absolutely priceless.

If you hitched your wagon to this scam thinking it was an easy money move I cannot say I have any sympathy. In fact the same way you thought you were laughing all the way to the bank, I'm now laughing in your face. Theres a sucker born every minute

[Johnny Bball]

First of all, i didn't invest a dime into crypto. Also, i dont want to be a party pooper but...
some people come around here to escape their every day life, relax, and talk some basketball. Perhaps they wouldn't enjoy coming in and be reminded they lost a boat load of hard earned money just now.