Crypto Geniuses Who Vaporized a Trillion Dollars
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Re: Crypto Geniuses Who Vaporized a Trillion Dollars
#2crypto is a game of creating virtual fortunes out of thin air and convincing other humans with traditional forms of money that those virtual fortunes deserve to be real-world ones.
The ultimate con --- selling virtual bridges made of electrons to rubes who had been convinced that their powers of observation were superior to all those others who just didn't "get it".
Re: Crypto Geniuses Who Vaporized a Trillion Dollars
#3White collar crime and doing time in Dubai. I can just see guy's the personal trainer: You are sentenced to a lifetime of generic air conditioned malls with nothing to do but eat awesome food so you can get really damn fat.
Re: Crypto Geniuses Who Vaporized a Trillion Dollars
#4crypto is a game of creating virtual fortunes out of thin air and convincing other humans with traditional forms of money that those virtual fortunes deserve to be real-world ones. The ultimate con --- selling virtual bridges made of electrons to rubes who had been convinced that their powers of observation were superior to all those others who just didn't "get it".
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Re: Crypto Geniuses Who Vaporized a Trillion Dollars
#5crypto is a game of creating virtual fortunes out of thin air and convincing other humans with traditional forms of money that those virtual fortunes deserve to be real-world ones. The ultimate con --- selling virtual bridges made of electrons to rubes who had been convinced that their powers of observation were superior to all those others who just didn't "get it".
Even better: being able to create money out of thin air…oh wait.
Re: Crypto Geniuses Who Vaporized a Trillion Dollars
#6White collar crime and doing time in Dubai. I can just see guy's the personal trainer: You are sentenced to a lifetime of generic air conditioned malls with nothing to do but eat awesome food so you can get really damn fat.
Lol, that's the best description of Dubai I've ever read.
Re: Crypto Geniuses Who Vaporized a Trillion Dollars
#7Crypto. Genius. Pick one.
Re: Crypto Geniuses Who Vaporized a Trillion Dollars
#8The final lesson these guys will learn is: never be a not actually rich conman. It's like fishing bait for prosecutors because the targets have no real wealth or power. It's much better to be an actually wealthy and thus powerful conman, where your generally untouchable.
Re: Crypto Geniuses Who Vaporized a Trillion Dollars
#9In fact no actual money vaporized. Every actual dollar exchanged for these turkeys went into a ready, yawning pocket.
A very great deal of imaginary money, that had never been exchanged for more dollars than were spent mining it, evaporated.
So, the winners were those who got actual dollars while the con ran. The losers were whoever handed over dollars.
Of course this phenomenon is not limited to crypto. Who here remembers Global Crossing? In the future, it will be Tesla.
Re: Crypto Geniuses Who Vaporized a Trillion Dollars
#10Calling 3AC responsible for the larger market decline in crypto is incredibly sensationalist. Total market cap had already declined 50% by the time 3AC became insolvent.