GM Don't trust, verify > trust our RNG. Stay solvent, avoid leverage > Pledge your Bitcoin as collateral for a loan. We really have to get better about actually doing the things we say. Seems like people like platitudes until its more convenient to ignore them. When its hard is when it matters. At the VERY least understand the risks you're choosing to take on. Even with so called 'liquidation proof' loans you're taking on the counter party risk of the issuer of the derivatives in use (if this confuses you I'd look into what happened with AIG in 2008 with their CDS book, specifically with Goldman Sachs). Your wealth is yours to take risks with, but doing so blindly is how we get people wondering what happened when everything is gone.

Read this whole thread. First I'm seeing that suggests this could have been something other than simple incompetence. Not jumping to conclusions but it doesn't look flattering. View quoted note →

We needed this. View quoted note →