81–90 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/
Earlier quoted context omitted.
Yeah, don’t short USDD (at least not yet). If Justin using His Excellencies personal wealth to bail out His Excellencies stablecoin sideproject, wait at least until the market cap goes beyond what he can bail out. It’s currently 3x over collateralized, you will lose.
Sort of, I believe they count anything they put in their burn address towards the 'overcollateralization' - but my point is also that redemptions are turned off. No matter how much collateral they have there's no mechanism to turn 1USDD into 1USD worth of any collateral at all. Conducting open market operations (buying up USDD in the market) is significantly cheaper than redeeming them. Last I checked it would cost a…
I have no love for HE, but indeed it is a pretty clever play to monetize HE’s illiquid shitcoins. Ive always deeply distrusted HE but I may have underestimated him.
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…
It is in line of 'a death is tragedy, a million statistics.' when thousands of people are losing it in a ponzi scheme, it becomes a matter of memes and I told you so.
Hypothetically speaking, if I really did warn someone, and they told me to "have fun staying poor!" or I pointed out the potential for a catastrophic collapse and the founder dismissed it as "r_tarded" and comparable events came to pass...
I say bring on the memes for those people.
> 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…
Stepping in to support the wages of mismanagement may not seem so excellent if the situation worsens further
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> It's quite enjoyable. Not really, it's full of people hating and insulting and pretty much comparable to the average crypto bro subreddit.
Even if it is trolling - that's orders of magnitude less harmful to society than a subreddit that offers dangerous financial advice.
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…
A fool and their money are soon parted. The real problem is that swindlers have made a huge amount of money and can use that money to corrupt politicians so it affects the rest of us. It’s not just the extra tax of having to care for the newly impoverished. 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 b…
Earlier quoted context omitted.
It is in line of 'a death is tragedy, a million statistics.' when thousands of people are losing it in a ponzi scheme, it becomes a matter of memes and I told you so.
Something Stalin may have said regarding the Soviet war dead is irrelevant here. Hypothetically speaking, if I really did warn someone, and they told me to "have fun staying poor!" or I pointed out the potential for a catastrophic collapse and the founder dismissed it as "r_tarded" and comparable events came to pass... I say bring on the memes for those people.
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…
A fool and their money are soon parted. The real problem is that swindlers have made a huge amount of money and can use that money to corrupt politicians so it affects the rest of us. It’s not just the extra tax of having to care for the newly impoverished. 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 b…
Yes! It's not just crypto, either, this problem seems to be endemic in our political and economic power structures.