Cryptocurrency as the next significant stage for computing technology, not just an investment

[iococoi]

have some fiat

 

Edited November 14, 2022 by iococoi

[ignatius]

Author of “The Big Short” spent time with the FTX guy and is writing a book.  
https://www.yahoo.com/finance/news/big-short-author-michael-lewis-223333355.html

I didn’t read the big short but the movie is amazing 

crypto bro sharing his thoughts in DMs on twitter. the DMs are posted in the article

 

Edited November 16, 2022 by ignatius

[ignatius]

 

[ignatius]

LOL. what an absolutly marvelous shit show. 

 

[Nebraska]

interesting course of action this: the founder of this crypto scam has decided to reveal that he is now aware his own project is a scam because everyone else figured out it was a scam and this is how he handled all that coming out originally

 

Edited November 23, 2022 by Nebraska

[ignatius]

so, FTX exchange.. had its own crypto currency called FTS. they hyped it. used profits to fund their hedge fund. basic pyramid scheme. 

when people started having doubts about FTS and got out of it the FTX exchange collapsed.. hedgefund owes billions to the exchange/crypto currenty FTS.. i think currently the guess is about $6 billion. 

some bernie maddof type shit.

[Nebraska]

25 minutes ago, ignatius said:

so, FTX exchange.. had its own crypto currency called FTS. they hyped it. used profits to fund their hedge fund. basic pyramid scheme. 

when people started having doubts about FTS and got out of it the FTX exchange collapsed.. hedgefund owes billions to the exchange/crypto currenty FTS.. i think currently the guess is about $6 billion. 

some bernie maddof type shit.

most "new" crypto projects will set up like that with their own ecosystem for that very reason

[tbf]

3 hours ago, Nebraska said:

interesting course of action this: the founder of this crypto scam has decided to reveal that he is now aware his own project is a scam because everyone else figured out it was a scam and this is how he handled all that coming out originally

 

don't know if i'd call this an interesting course of action. to me it just basically shows how cynical these pieces of shit usually are to the point of abusing people's empathy with victimisation dressed as a bout of "self-consciousness". Coffeezilla did a good job here, no mercy to these pricks

[Nebraska]

12 minutes ago, tbf said:

don't know if i'd call this an interesting course of action. to me it just basically shows how cynical these pieces of shit usually are to the point of abusing people's empathy with victimisation dressed as a bout of "self-consciousness". Coffeezilla did a good job here, no mercy to these pricks

i called it interesting course of action because they didn't do the usual "here is the explanation with adjectives we randomly pulled out of thin air and good luck making sense of it" statement

[usagi]

3 hours ago, ignatius said:

so, FTX exchange.. had its own crypto currency called FTS. they hyped it. used profits to fund their hedge fund. basic pyramid scheme. 

when people started having doubts about FTS and got out of it the FTX exchange collapsed.. hedgefund owes billions to the exchange/crypto currenty FTS.. i think currently the guess is about $6 billion. 

some bernie maddof type shit.

Bernie "made off" vs Sam Bankrun-Fraud

[tbf]

1 hour ago, Nebraska said:

i called it interesting course of action because they didn't do the usual "here is the explanation with adjectives we randomly pulled out of thin air and good luck making sense of it" statement

sure, I get your point and agree with it, as long as there is no appraisal side to it, they're just playing public image chess


glad he still at it

 

[ignatius]

this is fucking hilarious and outrageous. some big lol's in there and also plenty of "silicon valley and ivy league bubble world" is a weird weird thing. 

https://www.iheart.com/podcast/105-behind-the-bastards-29236323/episode/how-sam-bankman-fried-conned-the-crypto-104970468/

 

[dcom]

Quote

"What is OneCoin?" asks the narrator of a YouTube video. "Millions of people around the world are mining OneCoin today. The reason? It's a platform for innovation that changes the financial industry."

Karl Sebastian Greenwood, co-founder of sham "Bitcoin-killer" OneCoin, offered a different interpretation of the supposed cryptocurrency on Friday when he pleaded guilty in Manhattan federal court to charges of conspiring to defraud investors and to launder money.

OneCoin co-founder pleads guilty to $4 billion fraud (The Register)

Spoiler

The schadenfreude is real. I can't help it. Witnessing the cryptocurrency "market" implode in real time makes me happy. Small amount of people got insanely rich, a huge number of people were swindled.

 

[prdctvsm]

[ignatius]

just saw on the news an update about SBF landing in USA and being held and will he get bail etc.. and they had a blurb from some woman who put her entire $1.5 million retirement savings in FTX crypto exchange and was complaining about having all her retirement dreams dashed unless she gets some kind of repayment. wtf? 

 

[Nebraska]

On 11/23/2022 at 11:34 AM, ignatius said:

some bernie maddof type shit.

 

yeah. kinda.

[ignatius]

43 minutes ago, Nebraska said:

 

yeah. kinda.

$250m bail is lol. 

[iococoi]

Quote

While SBF was doing his public relations tour confessing financial crimes at anyone who would hold still long enough, Caroline Ellison (CEO of Alameda) and Gary Wang (CTO of FTX) were talking to their attorneys, and quietly doing deals with prosecutors.

https://davidgerard.co.uk/blockchain/2022/12/22/ftx-sam-bankman-fried-out-on-bail-ellison-and-wang-cop-pleas/

[iococoi]

[dcom]

Blockchain - Innovation or Illusion? (Offical - Full Documentary) [YouTube]

[dcom]

Luke Dash, one core developers of Bitcoin just got all his Bitcoins stolen.

[chim]

9 minutes ago, dcom said:

Luke Dash, one core developers of Bitcoin just got all his Bitcoins stolen.

Wow, the crypto shitshow just keeps on delivering. A lot of questions around this. How do you even break a cold wallet? The guy doesn't seem all that stable... inside job or some kinda tax evasion plan?  

[zlemflolia]

1 hour ago, chim said:

Wow, the crypto shitshow just keeps on delivering. A lot of questions around this. How do you even break a cold wallet? The guy doesn't seem all that stable... inside job or some kinda tax evasion plan?  

dudes lying about it being a cold wallet

[Nebraska]

 

[dcom]

Quote

More than half a million people who deposited money with collapsed crypto lender Celsius Network have been dealt a major blow to their hopes of recovering their funds, with the judge in the company’s bankruptcy case ruling that the money belongs to Celsius and not to the depositors.

Bad news for thousands of crypto investors: They don’t own their accounts (MSN)