Hey, I'm here again! Yes, the crazy dude who writes stuff on the internet!
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During this week the dramas in the market are happening one after another and there seems to be no end in sight. As I already mentioned, Celsius and Microstrategy are trying to lower the margin call they will face if the price of Bitcoin continues to fall.
Now the rumors about 3AC (cryptocurrency venture capital fund) are getting bigger. Like the previous ones it is suspected of lack of liquidity and faces possible liquidation.
These three examples seem to be worthy of comment because, in my opinion, they are not scams but mismanagement. Moreover, the ball is still in play and they are moving in search of more capital.
What surprises me and seems to be bad management is that we are in this situation with Bitcoin at 21k. I trust that at least Michael Saylor's tweet was true and they have coverage even with Bitcoin falling lower.
I have total confidence in Bitcoin surpassing 100k, but along the way, there are many circumstances to deal with.
In a comment on a previous post, I was told that it seemed like the whole market was a Ponzi scheme or something similar. Well, I wouldn't know how to define what kind of scam it is, but yes, the Markets (not the flea market in your town) are a scam and a game.
It's a game because the rules are defined and you can win or lose.
It's a scam because within the game some have advantages.
To calculate the value of crypto projects, the ability of the team to manage these problems is increasingly important, and it is clear that in these times economic solvency is vital.
So I'm going to leave you with some good news to end on a hopeful note.
In my search for the Statera team (STA), I was not able to find their faces.
-Hey dude, wasn't this to get our hopes up?- If you doubt, I was just kidding 😂
Seriously, I couldn't put a face to them, but I did find a news report about a hacking problem in a protocol. The STA team warned before the event of a failure that opened the possibility for this to happen. Despite his warning, no action was taken in time and the attack took place. It's not the best news, but it gives me extra confidence in the project since I don't need names or faces, I need people who provide solutions and prevent problems.
Do not forget to follow all my advice if you want to lose your wife because you have put the rent money in "coins that are worth cents but can be worth thousands of dollars"
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