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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

#281

Post by nullc »

umeshunni wrote: post #271
Stranger43 wrote: post #75

Earlier quoted context omitted.

Doing the wild west days America had a bunch of what was called wildcat currencies issued by private banks with dubious backing in either non existing gold reserves or over inflated property holdings. look up https://en.wikipedia.org/wiki/Wildcat_banking it's kind of an interesting period in finance that got kind of forgotten as it did not exactly end well.

I read a comment somewhere along the lines of "Crypto is a great experiment where people who didn't live in the 19th century get to relive at 10x speed all the bank runs and regulatory changes that happened then"

Early in Bitcoin we came across the 1923 "Reminiscences of a Stock Operator", https://gutenberg.org/ebooks/60979 -- which described some of the scams we were seeing cropping up.

Much of the altcoin industry seems to have picked it up as an instruction manual.

(Not that there aren't scams in Bitcoin land-- but they've mostly been concentrated into the altcoin ecosystems, which tend to be overweight in the exuberant and gullible even compared to Bitcoin. It's completely unsurprising to see the FTX implosion happening at a scamcoin casino who's CEO had been publicly attacking Bitcoin -- it would have been much more surprising to see it at a Bitcoin only or mostly organization)

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

#282

Post by yamtaddle »

HelloMcFly wrote: post #280
yamtaddle wrote: post #252

Earlier quoted context omitted.

Yeah, when did they get better? They've added more MSG over the last couple decades, I'm pretty sure, and kicked it up a lot when they publicized that they were re-formulating their sauce a decade or so ago—and, to be fair, they're far from alone in that, if you want a Pizza Hut pie that's about the same quality as a 1995 Pizza Hut pie, you're going to be paying more like $25 than $10 and you won't be getting it from…

> They've added more MSG over the last couple decades You say this as if it's an inherently bad thing. There's nothing wrong with some MSG as a flavor enhancer.

They already had some. Now there's a ton. And it's not to make it better, but to cover for the fact that all the other components have gotten a lot worse.

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

#283

Post by ok123456 »

leereeves wrote: post #183
hotpotamus wrote: post #158

Earlier quoted context omitted.

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.

Unless you actually watch conservative media, you won't know about their investigative reporting, because it will rarely be mentioned in Democrat media. And if it is mentioned, it is dismissed as misinformation, like Hunter Biden's laptop.

Prefacing this with the coordinated media blackout on the laptop story was horrendous. You couldn't even send a message using Messenger to a friend about it.

The long form journalism that the partisan press produces, both sides here, amounts to little more than fan service. It's incapable of investigating things out of public interest without it relating to their kayfabe. MSNBC can produce thousands of hours about Trump/Russia, but the for the Snowden leaks you get a few seconds of a professional talking head, who had to take off his lanyard with his CAC right before taping, telling you how Snowden is a bad man.

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

#284

Post by Wyoming23 »

brookst wrote: post #83
AlexandrB wrote: post #72

Earlier quoted context omitted.

> I would give a pass to any celebrity that was paid to be in advertisements. They are paid to make an appearance and say lines convincingly. I disagree. It's super weird that we accept "well I was just doing it for the money" as an excuse from people who are often already insanely wealthy.

If there’s a moral obligation to fully vet the industry and operations of a company before accepting a short contracting job from them, why would one’s bank balance matter?

Every choice and action a human makes is on some spectrum of consent.

At one extreme is a literal "gun to their head" moment where it's obvious there was no real choice and correspondingly the person shouldn't be held responsible (eg, someone points a gun at you and says hand over your wallet. That doesn't mean you really "gave" your wallet to them).

At the other end of the spectrum is a person with a tremendous amount of power, freedom and choice- eg, a rich person living in a Western country, making a decision where they have lots of options and/or can opt out or decline an opportunity freely.

It's easier to forgive a person doing something unethical to survive than a person living in luxury doing something unethical to have slightly more luxuries.

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

#285

Post by linuxftw »

joecasson wrote: post #30
linuxftw wrote: post #18

Earlier quoted context omitted.

> 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

My source: Worked for a startup hosting company, our biggest clients were backed by the same VC's as us.

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

#286

Post by rednerrus »

rglover wrote: post #225
gitfan86 wrote: post #138

Earlier quoted context omitted.

You are describing a pyramid scheme, but in word salad format.

What? Where is the pyramid scheme in this? Not once do they mention anything involving individuals having to coax other individuals into it. It's 100% voluntary and makes zero promise of some fantastical ROI (unlike every non-Bitcoin cryptocurrency).

There's no value unless you coax other individuals into it.

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

#287

Post by MomoXenosaga »

ok123456 wrote: post #259
darkerside wrote: post #235

Earlier quoted context omitted.

60 minutes and PBS NewsHour beg to differ

Those don't make money.

They don't but European countries fund independent journalism and documentary makers. Check out IDFA.

https://www.idfa.nl/en/

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

#288

Post by rideontime »

arisAlexis wrote: post #221
rideontime wrote: post #125

Earlier quoted context omitted.

Yes, really.

Because you read it on Reddit right? Send any proof you have to the NY district attorney and SEC if you know inside info. Don’t be this internet guy.

Way ahead of you. ;)

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

#289

Post by rednerrus »

herendin wrote: post #220
DebtDeflation wrote: post #100

Earlier quoted context omitted.

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?

You're making a stronger counter argument than you think. BTC only gets a 12,000% increase because you recruit a bigger fool to pay $16,059 than the fool who paid $16,058. The only value that you've offered here is that you can eventually find a fool big enough to pay $1,925,760.

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

#290

Post by MomoXenosaga »

TacticalCoder wrote: post #204
cokeandpepsi wrote: post #193

Earlier quoted context omitted.

It's not the media's fault these people commit crimes

It's the media's fault if they cannot be bothered to Google for two minutes that the chief lawyer at Alameda/FTX happens to be involved in a big poker scandal which... defrauded players. Especially when there were tweets as old as 2018 at the very least describing the very scam Alameda/FTX/SBF was pulling. @bitfinex'ed, a Twitter account which exposes tether for the scam it is since maybe a decade (and tether shall e…

You are missing the fact that we are dealing with an audience that WANTS TO BE FOOLED.

Going against the narrative is brave but it doesn't pay the bills. Besides would it even matter? Does anyone on r/cryptocurrency even care what the MSM writes?

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