Binance outflows hit $6B as Mazars halts ‘proof of reserves’ work

Re:Binance outflows hit $6B as Mazars halts ‘proof of reserv... by echelon on Saturday December 17, 2022 @06:08PM (#34033234)

There was so much going on during the pandemic. My early employee stock and the rest of my portfolio was booming, and I'd just made my yearly TC on GME. The dogecoin gains were smaller and kind of an afterthought.

To top it off, the hard drive with the dogecoin was back at my mom's place or in storage, and it would have taken a lot of time to go back and find it.

Since it was easy to leave the computer where it was, I lazily made the incorrect decision to go long on DOGE as a gamble and as a further means of diversification. I incorrectly thought maybe it would sink then come back even higher. I didn't have to do anything to make that choice. It was very much a wrong move and missed opportunity, but everything was making me money back then, and I was making all sorts of other bets, so this one didn't seem too unreasonable.

I should have known it was a bubble, but this was my first rodeo. My biggest regret was not selling all of my employee stock options last summer. I got stuck between two trading windows and thought that the losses would end. I'm still in a good spot, but I could have "FAT FIREd" and bought a half dozen homes. :(

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Re:Binance outflows hit $6B as Mazars halts ‘proof of reserv... by jacquesm on Saturday December 17, 2022 @07:51PM (#34033917)

I think your degree of resilience in dealing with such setbacks is something to strive for, at the same time please be more careful in the future, the price of such setbacks tends to go up as you get older and even though you managed to get through this one in relatively good shape (if not financially, then at least mentally) the next time around you may not be so lucky.

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Re:Binance outflows hit $6B as Mazars halts ‘proof of reserv... by hyperdunc on Saturday December 17, 2022 @08:19PM (#34034105)

What's this trend of telling others to please do something? I've seen it all over HN this year and it's so condescending.

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Re:Binance outflows hit $6B as Mazars halts ‘proof of reserv... by acdha on Sunday December 18, 2022 @09:56AM (#34038254)

It can be condescending but that’s not the only option. There’s been a lot of upset recently and older posters who remember 2000 and 2008 are trying to spare people the pain a lot of us either experienced personally or saw friends encounter. Based on his years of posting, I’m sure Jacques is in the latter category.

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