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Re: Embattled Crypto Exchange FTX Files for Bankruptcy

By: Zimbler0 in 6TH POPE | Recommend this post (0)
Sun, 13 Nov 22 2:42 AM | 27 view(s)
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Msg. 37396 of 60008
(This msg. is a reply to 37395 by Decomposed)

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Well De,
Being as I like to use 'Direct Stock Purchase Plans' . . .
I really have no idea what the sales price 'is' till I get the check weeks later. But I expect that sort of behavior for stocks and mutual funds.

When I write a check to buy something, I like feeling fairly certain that the check will still have the same 'value' to the seller as I thought it did when I wrote it.

Zim.




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Mad Poet Strikes Again.


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The above is a reply to the following message:
Re: Embattled Crypto Exchange FTX Files for Bankruptcy
By: Decomposed
in 6TH POPE
Sun, 13 Nov 22 2:32 AM
Msg. 37395 of 60008

Zimbler0:

Re: “If you buy a new car with bit-Coin, and the value of a bit-coin goes up nicely the next day . . . Does the car dealer have to give you some cash back?”
Have you ever sold a mutual fund and asked for a check? If you do it mid-day on a trading day, they'll tell you that your price will be whatever the price will be at COB on that trading day. You won't know for hours what price you actually sold at. If it's a day where the market fluctuates wildly, you could get a dramatically different amount of money than you expect.

Bitcoin won't fluctuate wildly forever. Its price will eventually stabilize. IMO, it will probably stabilize at ZERO since I think it is significantly inferior to several other digital currencies. But, like Facebook stock, it may stay way up there since it is the first and biggest. That may make it the ultimately winner among such currencies. A lot of people apparently still think so since bitcoin is still $16,000 (where it was in Dec 2020.).







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