31–40 of 295 posts
For anyone else enjoying the crypto meltdown, might I suggest the subreddit /r/buttcoin? It's quite enjoyable. https://old.reddit.com/r/Buttcoin/
Why would u enjoy people losing their life savings? Just because they told you to have fun staying poor on the way up?
This has been a slow motion trainwreck across crypto twitter (echoed sometimes in financial publications) and this is the first mainstream source out there. Finally. I definitely would like to see more things about specific organizations. Indictments about crypto as a whole just allows poorly run organizations to avoid scrutiny. Now if only there were mainstream news articles about all the things that go right in cry…
Legitimate question. What things have gone right in Crypto? I'm excluding individuals getting rich as that can happen due to gambling, etc.
I always have mixed feelings when someone is warned about the riskiness / foolishness / stupidity of a course of action, and then suffers for it. On the one hand, there's a certain satisfaction or Schadenfreude in the sense of vindication. And it's pleasant to feel like my own wisdom or self-control has been validated. OTOH, I know that everyone has limited wisdom / self-control / intelligence, including me. So it se…
My former local community went all in on a bitcoin scam, they made commissions on new entrants so I never heard the end of it. I only talked about it when asked but my warnings not only fell on deaf ears I was effectively ostracized as people were worried that I would talk new entrants out of it. “Don’t talk to that guy, he’s a no-coiner who doesn’t want you to be rich, he’s ngmi”. It was worse than Amway. Even after the crash many of them still avoided me, I guess now out of embarrassment, or worry that I would shove it in their faces like they did to me. I would never. It destroyed the community and many local businesses.
Edit: just found out which one it was, it was USI Tech. It failed 4 years ago so it’s not even part of the latest crop. Just sad that it keeps happening.
This has been a slow motion trainwreck across crypto twitter (echoed sometimes in financial publications) and this is the first mainstream source out there. Finally. I definitely would like to see more things about specific organizations. Indictments about crypto as a whole just allows poorly run organizations to avoid scrutiny. Now if only there were mainstream news articles about all the things that go right in cry…
"Actual value to society of crypto finally discovered!"
No, wait, we'll never see that headline.
So logically they must have been shorting BTC.
And if they were shorting BTC, they should have made ~30% profit in the last few months right?
So what the fuck is actually happening here? Were they lying about being bullish on BTC? And they somehow made an even bigger loss somewhere else that means their BTC short isn't enough to counter that? Or what?
> As of Friday, Voyager said it had approximately $137 million in U.S. dollars and owned crypto assets. > Last week, Alameda (FTX founder Sam Bankman-Fried’s quantitative trading firm) committed $500 million in financing to Voyager Digital, a crypto brokerage. Voyager has already pulled $75 million from that line of credit. Am I misunderstanding something, or: what kind of mismanagement could possibly lead to loans b…
I always have mixed feelings when someone is warned about the riskiness / foolishness / stupidity of a course of action, and then suffers for it. On the one hand, there's a certain satisfaction or Schadenfreude in the sense of vindication. And it's pleasant to feel like my own wisdom or self-control has been validated. OTOH, I know that everyone has limited wisdom / self-control / intelligence, including me. So it se…
Hot take: It’s fine when it happens to extreme hubris with paper wealth. It is not fine when it was someone unsophisticated chasing the herd who lost a meager sum that was meaningful to them. Comedy vs tragedy. Same thing with Archegos (Bill Hwang) and their rapid failure. It’s the hubris that makes it fun to poke fun, the sun blastin’ Icarus’ wings clean off. (no crypto exposure)
Earlier quoted context omitted.
Why would u enjoy people losing their life savings? Just because they told you to have fun staying poor on the way up?
People with crypto coins needs other people to be willing to buy them at higher price just slightly later. They keep exploiting fomo for their own gain. I don't think this is moral and a bit of karma is always welcomed.
For anyone else enjoying the crypto meltdown, might I suggest the subreddit /r/buttcoin? It's quite enjoyable. https://old.reddit.com/r/Buttcoin/
Why would u enjoy people losing their life savings? Just because they told you to have fun staying poor on the way up?
Yes. Frankly these people need to have a check to their egos.
Mocking people who just want a return on an investment but don't understand what cryptocurrencies are and falling prey to arseholes (correctly) assuming they are a Greater Fool is definitely in bad taste.
But the people who went "Line goes up, stay poor, I am very smart" despite the warnings they were engaged in a scam... yeah, I have no sympathy for them. They're the get rich quick, fuck you I got mine libertarians who deserve to be taken down a peg or two.
For anyone else enjoying the crypto meltdown, might I suggest the subreddit /r/buttcoin? It's quite enjoyable. https://old.reddit.com/r/Buttcoin/
Why would u enjoy people losing their life savings? Just because they told you to have fun staying poor on the way up?
When I first bought crypto, I put in just enough that if I were to lose it all, it would mean one vacation less and a fewer more meals at home for a few months.
The returns are absurd enough that a $10k investment can be life changing. Anything beyond that is just greed and stupidity.