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Weather Man

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Silvergate Capital stock extends drop after losing bull rating at JPMorgan

SI -42.73%Jan. 06, 2023 8:11 AM ET1 Comment

Silvergate Capital (NYSE:SI) stock tumbled 11% in Friday premarket trading, extending the outsized slide from the prior session, as JPMorgan analyst Steven Alexopoulos downgraded the crypto-focused bank to Neutral from Overweight, citing its worse-than-expected Q4 metrics.
On Thursday, the company said it's slashing headcount by around 40% in a cost-cutting move. Also, it's taking a $196M impairment charge after seeing a nearly 70% Q/Q drawdown in digital asset customer deposits amid a tough backdrop for the crypto space.
 

Weather Man

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Benzinga
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Bitcoin 'A Magnet For Idiots, A Fool Detector,' Says 'The Black Swan' Author​

Story by Shivdeep Dhaliwal • 3h ago

Bitcoin (CRYPTO: BTC) critic and noted essayist and mathematical statistician Nassim Nicholas Taleb has said the apex cryptocurrency is now a “magnet for idiots.”
Bitcoin 'A Magnet For Idiots, A Fool Detector,' Says 'The Black Swan' Author
Bitcoin 'A Magnet For Idiots, A Fool Detector,' Says 'The Black Swan' Author© Provided by Benzinga
What Happened: In a recent interview with French magazine L’Express, the author of “The Black Swan” said Bitcoin was a “fool detector.”
Taleb posted a translated version of the L’Express interview with Laeticia Strauch-Bonart on his Medium Blog.
On the craze surrounding cryptocurrencies, Taleb said it was a product of near zero or sometimes negative interest rates without “real market functioning.”
“Lowering rates creates asset bubbles without necessarily helping the economy,” said the former options trader and risk analyst. He said this gave rise to “malignant tumors” like Bitcoin.
 

jvandy50

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Does anyone notice that crypto has stopped going down on bad news?

FTX panic selling may have been capitulation and a true market bottom.
yep…seems if all the bankruptcies and crazy shit happening lately couldn’t tank it, she’s around to stay. But where’s the pop is my question
 

1slo5ohh

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I'm doing the same thing I've done since shit hit the fan. Leaving it alone and throwing some money at it here and there when we get dips on dips. Is what it is, it's either going to bounce back and I'll be sitting pretty or I lose everything I've put into it the last few years. That money is no less wasted than nights I go out drinking, I'd be more pissed off it bounced back and I missed the wave than if I lost what I have in it.
 

q6543

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With fidelity allowing bitcoin and ethereum into retirement accounts I expect both of them to have "positive drift" like we've never witnessed.

Bitcoin specifically would be a perfect global "retirement savings" asset.

All you have to do is look forward, not backward.
 

Weather Man

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With fidelity allowing bitcoin and ethereum into retirement accounts I expect both of them to have "positive drift" like we've never witnessed.

Bitcoin specifically would be a perfect global "retirement savings" asset.

All you have to do is look forward, not backward.

The highest risk asset ever created, and you think people should have them in their retirement accounts. o_O
 

jvandy50

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acorns has an option to put 5% of your portfolio into it. i chose to roll that dice, despite no longer seeing a use for it, because i like things that go up
 

VegasMichael

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Talk to Fidelity.... and yes. That's exactly how I approach them.
Fidelity is horrible. Bunch of idiots there. Had to file a complaint with the SEC about them a few years ago which I ended up winning. A number of their customer service reps literally have no idea what they are doing.
 

Kornilov

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I think you would have a better chance with lottery tickets in your retirement account.

This is stupid as shit and the personification of boomer mentality in one sentence.

Crypto is here to stay - for certain, there will be lots of idiots losing money on shitty crypto, but the legitimate currencies out there are going to make others tons of money many times over over the course of time.

Crypto is also a golden opportunity for mankind to throw off the yoke of centralized control of currency. Although it looks like we are losing that battle currently, there is still hope and opportunity.
 

SSSSSSSSSSSSVT

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This is stupid as shit and the personification of boomer mentality in one sentence.

Crypto is here to stay - for certain, there will be lots of idiots losing money on shitty crypto, but the legitimate currencies out there are going to make others tons of money many times over over the course of time.

Crypto is also a golden opportunity for mankind to throw off the yoke of centralized control of currency. Although it looks like we are losing that battle currently, there is still hope and opportunity.
Not a boomer, just going by facts. Retirement accounts usually bet on sure things. This crypto market is up and down like a yo yo and would be the last thing I invested in for retirement. A gamble - sure, but by no means a sure thing.
 

black4vcobra

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I don't want to get too excited but Litecoin has woken up. It's such a solid crypto, maybe the forces that have been suppressing it are finally running out of steam.
 

CompOrange04GT

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Fidelity is horrible. Bunch of idiots there. Had to file a complaint with the SEC about them a few years ago which I ended up winning. A number of their customer service reps literally have no idea what they are doing.


Welcome to every large business on the planet..

How often does customer service at many places we call Truly know their job
 

q6543

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Over 20 percent off of the lows… Bitcoin is in a textbook fresh bull market!!
$18,575 USD is the official breakout point.

Need to convincingly hold that number

Ethereum has been in its fresh bull market since July
 

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