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YouTube channel “TechLead” creator has created a crypto and pulled the rug

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Re: YouTube channel “TechLead” creator has created a crypto and pulled the rug

#151

Post by mikewarot »

ganafagol wrote: post #150
mikewarot wrote: post #64

Earlier quoted context omitted.

The goal of the class was maximum stock portfolio value (as set by market valuation). Everyone in the class started with a random set of stocks, and a set amount of funds. We looked at our portfolios and decided which to pump, and which to dump... then reversed when it was time to max out our portfolio values. When everyone is focused on the small picture, it is really easy to play the macro game. Note: You could put…

You didn't answer the question though. Sounds like the answer is "yes, we maxed the total market cap" which is distinctly different from "we ended up with almost all the money". You didn't have the money, you only had a fake stock valuation bubble.

That's a very good point!

Had the Prof been a better teacher, he might have pointed it out, instead of me learning that lesson on HN decades later. 8)

I never worried about the funds, only the portfolio value, since the funds were a zero sum game.

Re: YouTube channel “TechLead” creator has created a crypto and pulled the rug

#152

Post by donmcronald »

colechristensen wrote: post #80
donmcronald wrote: post #65

Earlier quoted context omitted.

I guess I don’t know enough about the technical differences. Doesn’t the SEC regulate both?

"investment" is vague The SEC regulates how companies represent themselves to investors and how certain things representing ownership are traded and represented. The exact surface that fits inside the SEC I don't know exactly and one has to be an expert to know (and the SEC doesn't necessarily know itself). Cryptocurrencies went from being completely outside regulation to somewhat inside, but the laws, courts, and re…

Ok. That makes sense. If I own a coin, the coin is the only thing I own. There’s no underlying security (asset) that gives it value.

So then it would be more accurate for me to have said that in Canada all crypto gains and losses are considered income or capital gains/losses for tax purposes. IE: You have to track your gains/losses like you do for stocks.

I only considered my side of the view where there’s not much difference. I’m guessing you’re talking about the side that creates coins where the technicalities of whether or not they’re securities makes a huge difference for regulatory requirements.

Thanks for explaining.

Re: YouTube channel “TechLead” creator has created a crypto and pulled the rug

#153

Post by jshen »

ALittleLight wrote: post #74
jshen wrote: post #53

Earlier quoted context omitted.

It’s not satire at all when you’re scamming people out of their money.

It seems to me like we are somehow blurring the lines of what is and isn't a scam because things like this are so obviously a scam. Suppose I see a guy on the street selling 1 dollar raffle tickets for a nearby sports car. If I buy the ticket knowing that I'm probably not going to win and there's a decent chance the guy on the street doesn't even own the car and is just going to run off - am I really getting scammed,…

It’s a scam, targeting unsavvy people who think there is a good chance they will make money or get rich. He grossly misrepresents the truth to trick them.

Re: YouTube channel “TechLead” creator has created a crypto and pulled the rug

#154

Post by jshen »

ALittleLight wrote: post #74
jshen wrote: post #53

Earlier quoted context omitted.

It’s not satire at all when you’re scamming people out of their money.

It seems to me like we are somehow blurring the lines of what is and isn't a scam because things like this are so obviously a scam. Suppose I see a guy on the street selling 1 dollar raffle tickets for a nearby sports car. If I buy the ticket knowing that I'm probably not going to win and there's a decent chance the guy on the street doesn't even own the car and is just going to run off - am I really getting scammed,…

https://mashable.com/article/influencers-altcoin-scams

Re: YouTube channel “TechLead” creator has created a crypto and pulled the rug

#155

Post by hcduytWW »

I'm Sandra Miscellaneous, I tried to invest my savings into forex broker's trade during Pandemic and ever since last year December have been trying to withdraw my savings and each time i try to withdraw i'm asked to pay for fees and Tax fees, last Month May 26th i discovered that it was all scam and i have already lost $450,000 US dollar's. I was referred by my bestie who know so much about the internet and he referred me to wizardharry@programmer.net, i emailed him and he asked me to get in touch on WhatsApp and i did as he instructed, after 32 hours of reaching out to wizard Harry i received a notification on my phone screen and it was blockchain and my funds were recovered full without stories, i am writing this because a lot of people complain of being scammed online while trying to have there funds recovered, kindly email wizard harry or text him on WhatsApp and tell him that you are from Sandra M.

Re: YouTube channel “TechLead” creator has created a crypto and pulled the rug

#156

Post by tradertef »

alephnan wrote: post #22

How can companies like Google change their hiring process and avoid toxic engineers like this? I’m sure he did well on the Leetcode interviews and even accelerated up the engineer ladder relatively quickly by “playing by the rules”

He is perfectly fine person. I don't think he is "toxic".

When someone has different opinion on certain thinks, it does not make them toxic.

Re: YouTube channel “TechLead” creator has created a crypto and pulled the rug

#157

Post by ric2b »

mikewarot wrote: post #135
teekert wrote: post #98

Earlier quoted context omitted.

It is obvious that all the new cryptocurrencies are just like that econ 102 class simulation, and just as vulnerable to gaming, but this time with real money." Isn't the whole stock market? I always wondered, they call these companies "billion dollar companies", but does that take into account the order book and how steep sorted order prices drop of?

As far as I can tell the only criteria is price at close. I assume that all the outstanding sell orders below a given price are filled first, so you couldn't just double the price of Apple, Inc. by swapping two shares at twice the previous closes.

"Banging the close" is definitely a thing, should probably use daily VWAP instead.

Re: YouTube channel “TechLead” creator has created a crypto and pulled the rug

#158

Post by ric2b »

dvfjsdhgfv wrote: post #111
exdsq wrote: post #96

Earlier quoted context omitted.

Narcissist sociopath. I'm a huge fan of dry humor (and British) so should be able to read sarcasm or dry humor but he just annoys me. Putting "as a millioaire" in video titles is the most crass thing I've seen.

I don't like his sense of humor either, but I have to admit he exposes certain aspects of tech life and attitudes that people in general don't talk about, and maybe this is what make us uneasy (or: is funny to some). Things like badly camouflaged pride in one's achievements, position, being successful, being better than others. He is deliberately ambiguous.

Yeah, he's no idiot, he knows what he's doing by mixing relevant/important opinions with his scams.

Luckily he's a very bad actor as well, he doesn't sound very trustworthy when trying to pull a fast one.

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