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23) But this one-- --this one throws the baby out with the bathwater. Without having done its homework.

Oct 10, 2020

24) If that's what you want for CREAM--fine. But also then why use CREAM and not Compound? If you want a small, neatly curated list of assets in a static system, that's what Compound specializes in. In CREAM, I see a dynamic, broader protocol, for better or for worse.

SBF

@SBF_FTX

Oct 10, 2020

25) But, idk, in the end this is the community's decision. Or, you know, 0xDa495C2Ab0a91623564126778D5AB20fA87C1DFc's. Either way.

SBF

@SBF_FTX

Oct 10, 2020

26) Anyway, we just voted to keep FTT as it is now. We would be happy to vote for a reasonable alteration--a moderate decrease in collateral weight, or 20% cap on a single coin! But the 'partial' option here is massively under-specified (as is the voting process for 3 options).

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and

I think the problem here is perception. You control a massive amount of a single coin. Enough the you can borrow all of the liquidity on cream and sell it all short. For people who finally “have a say” I think it’s natural to be against being controlled by whales.

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and

Basically this. FTT is basically value created out of thin air and the fact that the creator of that scam value can use it as collateral to take out real loans is insanity.

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given this, would you short FTT if you could?

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and

No but it's a bit curious that the oldest spot market on your exchange still doesn't have an instrument to do so.

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so it's "value created out of thin air" and "scam value" but also you don't think it's going to go down in price?

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and

BRB Sam, creating vaporware erc20 where i control 99.9999% of the supply. Gonna pump it in a couple trades to 500mil mcap. What, wait? You don't want to short it? Weird. Which one of these is not like the other.

SBF

@SBF_FTX

Replying to

@jawnbear

1) FTT has more liquidity than half that list (check coingecko.com/en/coins/ftx-t vs the others) 2) FTT is one of only 3 coins on that list whose highest "volume" market isn't fake. it's still lower volume/mkt-cap than average but not as much as that implies

coingecko.com

FTX Price in USD: FTT Live Price Chart & News | CoinGecko

Updated 16 November 2022: Current price of FTX is USD $1.57 with a 24-hour trading volume of $71,915,820. FTT price is down -10.0% in the last 24 hours.

3:39 AM · Oct 12, 2020Twitter Web App

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3) if it has a year of stability, is on binance/huobi/ftx/etc., and *circulating* cap of $300m, sure, I would if it were a scam!

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Is it really difficult to keep it 'stable' when the MMs stabilizing the price are run by you, you have deep pockets, and a vested interest in keeping that price stable, and also happen to control basically the entire float?

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Not fighting just opposed to some things ur suggesting. U defending ur position relative to FTT and I get it, but you’re a whale. U saying FTT could be any token, but when you stake $70M of your project and then short everyones bag are you trying to defend this as a normal short?