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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

#211

Post by commandlinefan »

boplicity wrote: post #164
AlexandrB wrote: post #82

Earlier quoted context omitted.

With every crypto collapse there seems to be an associated failure by the media to do any real digging. The same thing happened with Theranos where, with a few exceptions, the media fawned over Elizabeth Holmes. It's hard to tell if the media has gotten worse at their jobs or they've always been this bad and I'm just getting older. There are plenty of earlier scams and bubbles (Enron, dot-com bubble) that slipped und…

> It's hard to tell if the media has gotten worse at their jobs It's not that "the media" has gotten worse at their jobs. Rather, there simply a lot less funding for reporters. The hit in funding has become much worse in local reporting -- especially local newspapers. However, if this is viewed as a training ground for the few large national/international news organizations, it's easy to see how this has a profound i…

> a lot less funding for reporters

There's plenty of funding for and to reporters who aren't trying to discover the truth but instead manufacture it.

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

#212

Post by brookst »

zmgsabst wrote: post #151
brookst wrote: post #87

Earlier quoted context omitted.

“The media” is mostly just a bunch of 20-40 year olds with liberal arts bachelors degrees, trying to make ends meet and feed their families. Serious investigative reporters with the smarts and experience to dive deep were always the exception, maybe a handful in the world at any given time. So IMO, “they’ve always been this bad” is the answer, but it’s not entirely fair. Kind of like saying the cooks at McDonald’s ha…

Dominos would be my counterpoint: their pizza was just bad and they could do better. And they did. I think it’s entirely possible that an industry with low competition and high nepotism could just be doing their jobs poorly. Isn’t that why Joe Rogan is more popular than CNN?

Dominos is still terrible from a gourmet food perspective. They went from abysmal to merely bad. Which is fine at that price point and value prop.

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

#213

Post by jimcavel888 »

loceng wrote: post #88

Is there truth to the U.S. sending money to Ukraine -> Ukraine funding FTX -> FTX being 2nd largest donor to Democratic party in the U.S.? Timeline: - April 25, 2019: Biden announces his presidential campaign. - 13 days later, Sam Bankman-Fried, son of Barbara Fried (co-founder of political fundraising organizations), launched FTX crypto exchange. - The exchange is an overnight success. Sam Bankman-Fried (SBM) become…

No post body was provided.

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

#214

Post by datavirtue »

LastTrain wrote: post #85
throwawaysleep wrote: post #36

Earlier quoted context omitted.

Oh absolutely. Had I known the absurdity of crypto would still have been going on this long, I would have set up a bunch of rug pulls and run away with the money. Interrst rate hikes kill zombie companies. Scams put dumb people under the lash of their betters.

It's all scams and frauds and you are upset... because you weren't in on it?

Yes. This is the attitude that open lawlessness breeds. Laws (enforced laws!) keep good people good.

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

#215

Post by max51 »

mberning wrote: 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.

Would it be less a scam for you if they did a 1-to-1000 split and 1BTC was 15$?!

Using the sticker price to decide if a crypto/stock is a scam or not a very good idea.

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

#216

Post by snake_plissken »

simongray wrote: post #32
mrleinad wrote: post #8

Larry was right for once [1]. [1]: https://www.youtube.com/watch?v=BH5-rSxilxo

Larry the character maybe; not Larry the real person.

There is no difference tho? The show is about him playing himself.

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

#217

Post by MichaelCollins »

boole1854 wrote: post #155
loceng wrote: post #88

Is there truth to the U.S. sending money to Ukraine -> Ukraine funding FTX -> FTX being 2nd largest donor to Democratic party in the U.S.? Timeline: - April 25, 2019: Biden announces his presidential campaign. - 13 days later, Sam Bankman-Fried, son of Barbara Fried (co-founder of political fundraising organizations), launched FTX crypto exchange. - The exchange is an overnight success. Sam Bankman-Fried (SBM) become…

U.S. sending money to Ukraine: True Ukraine funding FTX: Mostly false. This appears to be a confusion related to the fact that Ukraine launched a website accepting cryptocurrency donations that were processed via FTX [1]. However, as far as I can tell, there was no funding of FTX by Ukraine other than possibly FTX earning transaction fees for processing the donations. FTX being 2nd largest donor to Democratic party i…

> SBF was the 2nd largest donor, not FTX the company.

It doesn't really seem like much of a distinction, since Bankman Fried viewed FTX as his personal piggy bank. Regardless, the DNC will be fine. They're still popular with voters, regardless of what donors are doing. Donor money doesn't actually win elections, voters do.

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

#218

Post by jen20 »

hotpotamus wrote: post #158
ok123456 wrote: post #141

Earlier quoted context omitted.

Fox News is primarily a cable news network that republishes some of their work as articles. Television isn't really a medium that lends itself to long form investigative journalism. Why would they bother with it when what they're doing is way more profitable? They also have a reputation for being the partisan press. They'd have to completely rebrand to get into a less lucrative area.

I'm told that all press is the partisan press of one side or the other, but it seems that there is little to no investigative reporting done by the conservative media - I wonder if it's an opportunity.

Fox News is not investigating complex issues because investigating complex issues is not within their remit. Their remit is to repeat simple memes that form easy sound bites for viewers receptive to that kind of thing.

The WSJ on the other hand has excellent investigative journalism which is usually well separated from conservative partisan commentary - see Carreyrou as a good example.

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

#219

Post by mountainb »

AlexandrB wrote: post #82
themgt wrote: post #48

It's incredible that SBF was being touted by Sequoia, WEF, Fortune, chumming it up with Clinton and Blair in the Bahamas, getting meetings and kid glove treatment with the SEC, relatively glowing profile as a "do-gooder" by the NYT. All while FTX had a Chief Regulatory Officer who was basically a career white-collar criminal. It beggars belief that anyone who dug half an inch into this story wouldn't have seen 90,000…

With every crypto collapse there seems to be an associated failure by the media to do any real digging. The same thing happened with Theranos where, with a few exceptions, the media fawned over Elizabeth Holmes. It's hard to tell if the media has gotten worse at their jobs or they've always been this bad and I'm just getting older. There are plenty of earlier scams and bubbles (Enron, dot-com bubble) that slipped und…

Journalists who do puff profiles on business and political figures don't do any investigating. Investigative journalists who investigate on their own initiative are rare. Most just ride on the coat-tails of plaintiff lawyers, prosecutors, and public scandals as in this case. It's not really clear if newspapers suffer reputational harm from puff pieces that are later repudiated.

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

#220

Post by herendin »

DebtDeflation wrote: post #100
mberning wrote: post #41

Earlier quoted context omitted.

Sure, I’m not stupid. I would turn around and sell it to some other fool. And thats the problem. There is honestly no price I could buy it at where I would be willing to hold.

https://i.imgur.com/fsCmqVh.png I just don't understand all of the "BTC will never fall below " thinking.

You say you can't understand, but the chart you yourself posted (to illustrate price volatilility) also shows a 12,000% increase in price in less than 8 years, up to today.

Past performance is no guarantee of future results, but maybe that, the improbable 12000%, is the thinking that you're trying to understand?

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