Topic: Honestly do we really got rugpulled in pandemic? - page 3. (Read 415 times)

FTX crash is in 2022, the last year, not in 2021.

The collapse of FTX: What went wrong with the crypto exchange?
Bankruptcy of FTX

Their exchange token FTT got its all time high 2 years ago, $85 on September 2021.

If I understood you correctly, you are talking about the economic consequences of the pandemic, correct? If so, then the global economy is still suffering from the consequences of the pandemic, the impact of which could extend for an additional three years. However, I think that the economy has been affected by geopolitical factors in the recent period more than the economic consequences. Financial and political policies have led to a rise in oil prices and changing all of the lives that we live according to interest rates. High and higher tax levels

Whether we realize it or not, we are feeling the impact of the pandemic, but before we go any further, if you mean by the crypto crash that means the most surprising period in 2021 is FTX. Meanwhile, if we talk about the pandemic broadly, it is clear that almost all elements of society feel this way, whether crypto users or not. What I mean is the Covid 19 pandemic, so when it comes to the collapse of FTX, that's only 1% of the losses of many people in this world.

Returning to the focus of the FTX case, which is like tangled threads that are connected to each other. The SBF pours funds into political campaigns, so it is not surprising that criminal proceedings reach large amounts. Some of us have started to know when the SBF girlfriend was caught and unlocked all the puzzles behind the market crash. Both of them deliberately manipulated it in quite a cunning way, even on the first day FTX plan was implemented neatly. So that SBF is able to disburse large funds into political channels to anticipate bad things.

Financial evolution, unfortunately, is not balanced with dsitributed knowledge of society. Once they hear about the value growth, they will consider it a profitable scheme with no risk and they can enter without any hesitation.
This point is actually exploited by "people who know better". Crypto is really mostly for this purpose.

I think it was nothing more than a prank, what is there to see for a simulation, in no way you could gain anything meaningful from a simulation game.

I'm fortunate I wasn't in any meaningful way to do with FTX, I had read horror story all over the internet, I was shocked to know investors actually send life saving into FTX exchange and they got lock out from the exchange, balance wipe out, frozen, they are still haven't give up (even now) and waiting for the REFUND proceeding, I mean how is guy so gullible to send life saving to a brand new exchange, is it greed or is it pure marketing that is at work? I do not know the total damages, it is horrible the loss is well felt across the board.

All of this are pure gamble, I do not think you have a chance eventhough you have every information exposed right before your eyes, you can catch a poker cheating in a match, but it is the exchange you are dealing with, it is intangible which there is literally nothing you can do to riducule them, not a chance, go long or go short you loss, in a dice game go big or go small you loss, rigged game!

I couldn't ignore the news totally, yup I think the figure is quite reasonable, I was shocked to know the entity alone could mint near $35b worth of USDT, how on earth they could pull the figure is totally out of my head! Also many investors got totally wrecked by the collapse!

Classified news like this would never get into your hand btw, it is too shady to be publicized.

Too bad, you can never read a person intention or mindset, you do not know what would come to you until the very end, by the time you realize them, it is too late!

this phenomenon isn’t uncommon especially in my country people are greedy and mostly in need of money

this is easy because there are also a lot of people who don’t analyze new projects carefully and are easily fooled by shining words and promises of course we have to remember that these people are also in need of money or at least most of them the people who gets victimized by this type of things are those who are desperate enough to not notice red flags

That season has given us the wild ride, both positive and negative and that has given the best and worst on this market and also from the world. The best is like when the exposé of those real scammers in the community that has taken sums of money from the innocent users and swindled everyone, like was successfully made us a fool that they're the angels of the market. But lo and behold, they're the real devils that have planned it all along. And going with the real world incidents, it's like an actual reset for the majority but what I don't like from this scene is that the rich became richer.   

We are just people who enjoy development and economic progress. We are not the main actor in economic sustainability, both nationally and globally. We do not have businesses that play an active role in the economy and trade which can affect the economy as a whole. We are just a society that depends on a company to continue to have income to survive, so the steps and decisions taken by economic and trade leaders greatly affect us and will have an impact on our economic and financial stability. Because we are not the people who can regulate an economic system, but we are only people who are victims of an economic system.

And it's impossible for us to get out of this situation well. In making a decision, of course there are risks and challenges that we have to face. It could be that the risks and challenges will be greater than we previously thought. But even so, we must not be discouraged and continue to do our best to get out of this situation.

And today's quote; "if you fall, then keep trying until no one else can bring you down"

You are right in feeling the way that you feel, however this is just the system in power at play. FTX was able to grow as large as it did, influenced by much more than just SBF, also by powerful figures surrounding him. The ultimate goal? Maybe not to rob all of the people within FTX, but to manipulate the market and majorly capitalize from it. Imagine the gains that were made by those who knew that FTX was pumping up the market, and imagine the gains that they made from shorting it all while knowing that FTX had such a large hold over the space? Additionally, imagine how many investors and traders who understood the market was overbought, thus shorting it, got liquidated...similarly, imagine those who believed in the market, had a margin position, and got liquidated?

The losses add up so much more than just FTX, the market manipulation would have destroyed way more than the ~$50b that FTX lost/mishandled or whatever they say happened. It's just a penny in the water against how much wealth was concentrated back to the people surrounding SBF that were in the know.

And yet, no news about this. Just a spotlight on the face, and not spotlight on the ripple effect...but unfortunately, that's life. Those who had lost had to have had the risk of losing it all considered, no matter how unfair the circumstances were that caused the loss. There will always be bad actors, and it's not always those without power or money.

Unfortunately, there are now many similarities between the "rugpulling" that happened and can still happen in the crypto industry...and the real world we live in wherein people are still taken for granted and just fooled even by the very people that should be serving them. So many interests of the elite have been crammed in the throats of the common guys while deceiving them that things can be for the common good...and now we are starting to see the truths coming out. We have been rugpulled...yet this is not going to be the last for as long as people are staying in their comfort zones.

Honestly do we really got rugpulled in pandemic?

I'm still dumbfound, but the picture of rugpull keep resonating in my mind and can't get away with it...

Do we all really got rugpulled by a bunch of (bad actors that sither in the dark) just like what they hint about getting rugpull in crypto(2021) which is all but a simulation to the real world rugpulling in 2008 esque that still leave many guys totally confused and living in denial and got caged like a fangless lion and unable to get out.

I wasn't participate any substantial amount of energy or money in real world so I was totally unaware of nothing!

Anyway the main point is, do we successfully get out of this nearly unharmed? There isn't a metric to gauge any of this happening.