Coinbase earnings were bad. Worse still, the crypto exchange is now warning that bankruptcy could wipe out user funds

ahh.. its so kinky when you write like that...

Ya'll realize the Banks ALL have these disclaimers as well.....right? Yeah...FDIC insured for 250K....until it isn't!

Most of these tech companies get big loans to pay for fancy cars, boats, salaries, bonus and offices for their smart guys.
They never grow in organic way, they spend a lot more money than earnings.
Besides, they are players too with big bets.
Dot com bubble 2.0 ....

Last Edited by TIO JUAN on 05/11/2022 01:05 PM

have not followed cb stock but i think it's down like 20 bucks today.. -28%.

Maybe drop a put option on that one!

$65K if you are the first one to cash out. Ever heard of musical chairs?

Last Edited by Chinaman on 05/11/2022 01:15 PM

Migrated my cryptos off CB.... just got a bag in their vault that will take a few days to extract.....

why does it take a few days? or thats part of it being in the vault? (like for interest or something)

Their cold storage vault has a delayed withdraw process.....they send daily notices to my different email accounts until time's up....a safety measure that might work against me....lol....

yea i knew it was something like that. just checking :)

in any other scenario (like theft) this would be the best thing to do.

youll be fine!!! youll get it

this

Bitcoin was probably setup by the deep state to get people familiar with digital money, especially the young.

They will kill shitcoin and then issue a trustable version through the central banks/government.

How many more times do you intend to post that? You sound like a broken record.

1) Glad I stopped the bleeding on my 1 share of coinbase at ~$130...

2) If you don't have sole possession of the crypto wallet key, you don't own the coins

3) Only keep stuff you're going to trade on the exchange unless you're ready to lose it.

4) Only invest into crypto what you're willing to lose.

Back when BTC was about ~$60k, I thought to myself, this feels like 2017 and we're probably going down... should have listened to myself but the greed... well not the greed as much as the risk/reward was too strong.

At least this time, unlike 2017/2018, I'm good leaving the crypto there for a few years. I mean if SHTF, we're screwed either way, the amount I have was not and has not been enough to make a difference for that. It is however enough that should things go well in 3 to 5 years I should be able to retire or at least have the dream house.

If this is the actual bear market and not just the PTB slapping down crypto to allow their friends to load the boat before it goes up, I'll wait a few months, but unlike last time, I'll just start putting some in every few weeks again. Fortunately a different situation this time.

I'll be sticking to XRP, XLM, Theta, Matic, and probably Sand.

Bitcoin was a honey pot to trap all the money launderers, drug traffickers and child traffickers.

I never knew they had a US Army version of Monopoly.

You’re a retard. Please shut the fuck up.

Good to hear that about xrp, xlm etc. I had theta in uphold then switched phones and lost my authentication app...so no more theta. Mainly have ripple family for my investments, also a bunch of free most likely shitcoins from voting on bitrue...but hey maybe someday they will be worth something. Why not.

And I'm thinking maybe I'll get some matic, dash,cake and Eth, and comp. They seem to be doing ok right now....well eth and comp anyway...not sure about dash and cake. and other shiny thing to go with it.

people are making money In this market?

I'm down 30% in like 2 months ouch.

Enough to buy a Prius

Is pulling crypt-ooh money how some of the institutional investors were trying to prop and pump this morning, before the Dow dipped back below where it started? Are they panicking trying to pull from one in order to prop the other?

Can they pump the stocks high enough by the end of the day using crypt-ooh to cover their margins? Looks like they are willing to sacrifice one thing in order to try to save another. Will it work? It doesn't bode well for long term stability in either of these markets, if you ask me. Kind of a sign of the times, another negative economic indicator by which to measure the success of Brandon's success with Build Back Broker communism.

They must be having some delays moving their money quick enough due to sheer volume.

They are now notifying the little people in the crypt-ooh that they will indeed be bagholders, if necessary.

Hardware wallet . If not this the wallet made by the coin. Stay away from 3rd party wallets if you have more than say 1000$ In the game.

I'm up 30 bucks on my 0.08% 3month bond lol

I have used regular Coinbase and Pro in the past with no problems in the past. Did KYC, etc and has been pretty solid except for a few bumps here and there.

However today I made some withdrawals but now I am locked out of using pro. They want KYC verification completed and are denying access to my portfolio.

I think they are getting desperate and are trying to delay withdrawals by forcing users to perform KYC again.

Read for yourself from Coinbase CEO Brian Armstrong - a series of 8 Tweets that he tweeted shortly before midnight on 5/10.

[link to www.bloomberg.com (secure)]

15h
1/ There is some noise about a disclosure we made in our 10Q today about how we hold crypto assets. Tl;dr: Your funds are safe at Coinbase, just as they’ve always been.
·
15h
2/ We have no risk of bankruptcy, however we included a new risk factor based on an SEC requirement called SAB 121, which is a newly required disclosure for public companies that hold crypto assets for third parties.
[link to sec.gov (secure)]

15h
3/ We believe our Prime and Custody customers have strong legal protections in their terms of service that protects their assets, even in a black swan event like this.

15h
4/ For our retail customers, we’re taking further steps to update our user terms such that we offer the same protections to those customers in a black swan event. We should have had these in place previously, so let me apologize for that.

15h
5/ This disclosure makes sense in that these legal protections have not been tested in court for crypto assets specifically, and it is possible, however unlikely, that a court would decide to consider customer assets as part of the company in bankruptcy proceedings...

15h
...even if it harmed consumers.

15h
6/ We should have updated our retail terms sooner, and we didn't communicate proactively when this risk disclosure was added. My deepest apologies, and a good learning moment for us as we make future changes.

15h
7/ Finally, we of course offer a self-custodial wallet solution (Coinbase Wallet) for those who prefer to store their own crypto. Our goal is to make the best custodial and self-custodial solutions in crypto - each carry their own risks and benefits, and it's important...

8/ ...that customers can choose the best solution for their needs. We'll continue working to improve customer protections in all our products across both categories.
11:46 PM · May 10, 2022·







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loading up on bitcoin

If you have only $1K in the game, and do not need that for grocery money, then you could HODL. $1K is a lot for some people, not much for others.

Today has been awesome for those day trading or scalping BTC.

Let us know how that works out.

I bailed at $52K.

Yes, left money on the table, but perfectly timing a market is foolish. Besides, had 25 BTC in my HODL bag, average price of $8.2K.

So, am happy.

I sold the little i had this morning. Going to buy new tires, brakes, and put in an automatic starter and continue thanking God almighty that I didn't put anything more than I had into this crypto casino