Crypto has lost the plot. I'm tired boss.
This place used to be punk, but it's sold it's soul to the institutions it vowed to dethrone and has lost its identity entirely.
Crypto was intended to be an apolitical rebellion. That's been replaced with pseudo-partisanship, grifting, insider trading, and corruption from the top down.
What drew me to this place was disruption, ownership, art, privacy, truth. A chance to level the playing field. But right now it's just old dogs, new tricks.
CT has become insufferable, too. If I have to read one more fucking ChatGPT info-fi post about some protocol nobody is every going to use to farm some token that nobody is going to hold for more than 17 minutes I'm gonna blow my brains out.
Cozy in spot, and I know it's up only for [my bags] obviously, but I'm deeply disinterested in what's going on here right now. Bummer.
I'm down like 15 million from recent highs and still bullish.
This is the game. This why many can't do it. Few could ever hope to be this retarded.
They will call us lucky soon. We will laugh and tell them to deliver our uber eats.
Powell mentioned earlier today that QT is coming to an end (Quantitative Tightening). For those who don't know how bullish this is, QT ending opens the door for mass liquidity injection = alt season.
This, combined with two more rate cuts + ETH staking ETF + Q4 seasonality = 🐂
I remember being one of the first 20,000 to sign up to Binance back in ’17. You had to third party download the app as it wasn’t even on the app store yet.
There was no KYC, decent liquidity, leverage, & good pairs.
HOWEVER all the above has changed
CEXs = dead DEXs = Future
Let me share a little story on the largest ever single payment from @Binance, the $6m in 2017!
I hope this will help you better understand the #Binance culture.
Binance launched on July 14, 2017, having successfully raised $15m in its ICO two weeks prior.
Less than 6 week later, on Sept 4th, 2017, China issued a ban on crypto exchanges, crypto mining, as well as recommending any ICO projects to return users investments in full should the users want it.
With the announcement, many tokens dropped below their ICO price. BNB dropped from 22x to 6x of its ICO price. Luckily, it was still 6x. So no one wanted to return $6 for $1.
However, four other projects on Binance fell below their ICO prices. The teams behind those projects lacked the funds to fully reimburse their users.
Our team ran some calculations. The gap was about $6 million USD.
The team called me and asked if we should use our own funds to make our users whole, even though those were neither our projects, nor our obligation.
$6m million might not sound like a lot today, but to put it in perspective, we had raised $15 million just eight weeks prior. We were not profitable. We were buying servers and hiring people. We were burning cash.
Giving $6 million to users would deplete our corporate treasury by more than 40%.
I joined the call on a moving train in Tokyo. I asked if anyone had any objections.
No one objected. I said, “let’s do it”.
Percentage wise, that was the single largest transaction in our corporate history.
That announcement immediately received overwhelming responses from the crypto community, not only in China, but around the world.
No other company had protected its users to such an extent, even to this day.
The market rewarded us. Users from around the world joined us. They saw that Binance protected users with not just words, but with action and funds.
When we made the decision to make users whole, we had about 35,000 users. A month later, we had 120,000 users. We became profitable, and have been ever since.
Two months after that, we became the world’s largest crypto exchange, and have been ever since.
Hence our core value: Protect Users!
$445 million dollars in stimulus being injected back into the ecosystem between BnB and Aster
Id like to remind you we just had a crash on Friday and it has only been 3 days since
When have any of the CZ Binance fudders ever done anything like that?
October 11th 2015 I did my last shot of heroin in a Publix bathroom and got into a van that took me to detox
Remember it like yesterday
At that Publix I overdrew my bank account and had negative $30 in my bank account
I was 32 at the time
Officially clean a decade now with a house, great job, beautiful wife and two beautiful children
If you got absolutely rekt today know one thing
Anyone can start over and achieve their dreams at any time
God is good, one day at a time