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FTX collapse, Tether operations have links to online-poker cheating scandals

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Re: FTX collapse, Tether operations have links to online-poker cheating scandals

#21
post #13
post #4

It’s amazing to me that enough people still believe in the crypto scam to keep pumping BTC above $15k. I guess they are still managing to mint fools at a fast enough pace to keep the price up.

What's collapsing again and again are the companies that try to force TradFi ideas onto the DeFi ecosystem. So, in terms of "crypto scam," there's nothing to see here.

Every collapse has been self made. I don t see how the institution have anything to do with that.

Re: FTX collapse, Tether operations have links to online-poker cheating scandals

#22
post #4

It’s amazing to me that enough people still believe in the crypto scam to keep pumping BTC above $15k. I guess they are still managing to mint fools at a fast enough pace to keep the price up.

I don't think there are enough people believing in crypto or specifically BTC. I believe that it's all insider trading, and fraud that keeps the price above $0.

Re: FTX collapse, Tether operations have links to online-poker cheating scandals

#23
post #21
post #13

Earlier quoted context omitted.

What's collapsing again and again are the companies that try to force TradFi ideas onto the DeFi ecosystem. So, in terms of "crypto scam," there's nothing to see here.

Every collapse has been self made. I don t see how the institution have anything to do with that.

Sorry. With institutions, I meant companies like FTX.

Re: FTX collapse, Tether operations have links to online-poker cheating scandals

#24
post #13

Earlier quoted context omitted.

What's collapsing again and again are the companies that try to force TradFi ideas onto the DeFi ecosystem. So, in terms of "crypto scam," there's nothing to see here.

[deleted]

> He had vowed to give up to $1bn to political candidates linked to causes he supported, a pledge from which he later backed away.

I can too promise the moon and never deliver.

Re: FTX collapse, Tether operations have links to online-poker cheating scandals

#25
post #4

It’s amazing to me that enough people still believe in the crypto scam to keep pumping BTC above $15k. I guess they are still managing to mint fools at a fast enough pace to keep the price up.

It's not Bitcoin that is the scam, it is companies run by criminals to steal peoples money.

Re: FTX collapse, Tether operations have links to online-poker cheating scandals

#27
post #11
post #4

It’s amazing to me that enough people still believe in the crypto scam to keep pumping BTC above $15k. I guess they are still managing to mint fools at a fast enough pace to keep the price up.

Is everyone fleeing exchanges and just buying classic BTC and Eth?

Why even use an exchange?

Re: FTX collapse, Tether operations have links to online-poker cheating scandals

#29

I wonder if there are cases of large scams where the perpetrators are smart enough to avoid being caught. Not all criminals end-up behind bars. I suspect that some scams can go unnoticed for long enough. I also suspect that scam opportunities are exploding.

Tether is one of them, I suppose. No one has been caught (yet).

Re: FTX collapse, Tether operations have links to online-poker cheating scandals

#30

I wonder if there are cases of large scams where the perpetrators are smart enough to avoid being caught. Not all criminals end-up behind bars. I suspect that some scams can go unnoticed for long enough. I also suspect that scam opportunities are exploding.

> perpetrators are smart enough to avoid being caught. IMO, many startups are scams on some level. VC A funds company X. VC A also funds company Y. Company Y 'decides' to use company X's hot new product and has a lofty enterprise license. This happens a few more times. Company X now has very large revenues, VC's friends at big-nation-bank decide it's time to IPO and cash out.

I wish a VC's recommendation or direction was all it took to get a deal done. Getting a "lofty Enterprise license" through procurement is so much harder than you are stating. They can make an introduction, sure, but very few VCs are micromanaging to the point of determining a portfolio company's tech stack.

Source: a decade of VC funded Enterprise saas company selling experience

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