Bitcoin has failed. It doesn't scale as a currency and its not a store of value. The cost of mining is simply too expensive and as an ecosystem its hemorrhaging a billion dollars a month. What's the net present value of an asset that loses a billion dollars a month, forever?
> However, the system could not prevent the firm from being liquidated out of its LUNA futures trading position and losing 26.7 billion won ($20 million) in the process. This happened during Luna's price crash. It was reportedly shorting Luna — while its price plummeted — but got caught out during sudden price pumps along the way.
> The lost funds represent about 99% of the funds that Uprise was managing on behalf of its customers. These clients are high-net-worth individuals and corporate entities, according to the report. Uprise also reportedly lost $3 million of its own funds short trading LUNA.
