FTX Failure Shows Trading Is Gambling – Bitcoin Magazine

This is an opinion editorial by Mark Maraia, an entrepreneur, author of “Rainmaking Made Simple” and a Bitcoiner.

I find it tragic to note the number of people in the U.S.A. who are being forced by the Federal Reserve’s monetary policy to take risks with their hard-earned capital. Those of us fortunate enough to already possess wealth are buying overpriced homes, overpriced stocks, overhyped cryptocurrencies — and bitcoin. To quote Senator Lummis amongst others, “Thank God for bitcoin.”

The collapse surrounding the centralized exchange FTX is the latest example of why I hate trading and investing, especially when it comes to the sh*tcoin market. Not only do you bear incredible risk as you essentially gamble on the “assets” listed, but the entity that holds your money is gambling with it too! The entire time, you are trusting a third party which is only interested in making money with your money — and not giving you a fair chance trading, while they’re at it.

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