If FTX, Voyager, and Celsius had actually custodied the bitcoin they were supposed to have on their books, I think Plan B’s original model probably would have held.
Those criminal enterprises may have ‘reset’ the S2F model back a cycle because of the demand they absorbed.
The SEC denial of a spot bitcoin ETF kept the barrier high for new people to come into bitcoin.
The paper bitcoin fraud at the bankrupt companies stole from people who had already purchased bitcoin.
The first is annoying.
The second is evil.
Many people around the world (myself included) had a very painful NYKNYC lesson.
It set us back both financially and emotionally.
Time will heal these wounds.
It is my sincere hope that no one suffers loss from trusting counterparties going forward.
Innovations in self-custody continue, and new Bitcoiners also have the opportunity to learn from the mistakes of the past.
We also need to hold the criminals accountable for their past deeds.
It is mind-boggling to me that people from these companies as well as Terra and 3AC are not already being prosecuted. Not only that, the 3AC bros are raising money for a new venture!?
We need to do better than this.
YourCryptoDoctor / Rich Lassiter
npub1y4…u9dlk
2023-03-16 18:38:51
Author Public Key
npub1y4swe9dkn85juqgg8vc2lh46gnt0zgqntrtmhg58056awm75gq5szu9dlkPublished at
2023-03-16 18:38:51Event JSON
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"pubkey": "2560ec95b699e92e01083b30afdeba44d6f1201358d7bba2877d35d76fd44029",
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"kind": 1,
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"content": "If FTX, Voyager, and Celsius had actually custodied the bitcoin they were supposed to have on their books, I think Plan B’s original model probably would have held.\n\nThose criminal enterprises may have ‘reset’ the S2F model back a cycle because of the demand they absorbed.\n\nThe SEC denial of a spot bitcoin ETF kept the barrier high for new people to come into bitcoin.\n\nThe paper bitcoin fraud at the bankrupt companies stole from people who had already purchased bitcoin.\n\nThe first is annoying.\nThe second is evil.\n\nMany people around the world (myself included) had a very painful NYKNYC lesson.\nIt set us back both financially and emotionally.\n\nTime will heal these wounds.\n\nIt is my sincere hope that no one suffers loss from trusting counterparties going forward. \n\nInnovations in self-custody continue, and new Bitcoiners also have the opportunity to learn from the mistakes of the past.\n\nWe also need to hold the criminals accountable for their past deeds.\n\nIt is mind-boggling to me that people from these companies as well as Terra and 3AC are not already being prosecuted. Not only that, the 3AC bros are raising money for a new venture!? \nWe need to do better than this.",
"sig": "a1e156fa653903b479ac46819bac0ae9b5a418b48733e6eeefeb0aa9f17fbac1e3c2741f8c4401b2fb4b61269c827bc407a44eec429607592de059f65c1fa978"
}