bit¢oin$

it has generally gone up a shit ton

Madoff dying was the reason why Bitcoin's been doing so well. now that there's an angel in heaven blessing Ponzi schemes the price can only go up uP UP!!!

btw not sure if i ever told the story on here but i knew a guy who ran a hedge fund, was always talking about his various diversified investments, turns out he was just turning 95% of the money over to madoff lmao

You eventually just run out of dumb money.

*nature/financial documentary voice*

every year, tens of millions of children turn 18, and the pool of dumb money is replenished

lol

seriously, though. not just kids, either. it's anyone out there who has a shit job and doesn't feel like they've ever been remotely compensated for the amount of work they're putting in. that's actually most of the world, i think. look around at any job where it's understood that the workers may be high, and you'll see everyone watching binance even more closely than the prototypical sweaty basement cryptoturd

yeah I know, but there is in fact a ceiling on how much of that money there is in aggregate, and that's why bubbles do always eventually deflate.

yeah feel like its little understood how many of the retail investors are working class people buying $100 here or there

which makes the whole thing especially suck cause theyre the ones who will be left holding the bag

and also, curiously, those shouting the loudest and managing to somehow out-dogmatize christians, holy shit

reminds me of the tea party patriots

anyway, i guess the rational thing is just to stay 1000 feet away from all this and hope that it blows up on itself. but...i can't because i physically feel this shit invading my space and wellbeing! it is a tangible digital horde of fucking morons getting closer to my window each day.

Arguably you could spend less time on Twitter and take care of a lot of the problem.

haa

i dumped dozens of crypto image speculators (formerly self-described as digital artists) when i got back from becoming a LVL3 wood elf a few weeks ago. that did help!

idk what this means but anyway

We've successfully playing the #TSLA classic bubble and dispassionately #Ethereum looks similar. Presently, we are trying to find a low off yellow line or $2k. If we can then break $3580-36k great. But if we fail as #TSLA did @$780-800 that would confirm a bull trap = very bad. https://t.co/FmzdpzVhhB pic.twitter.com/q4GT2HYvwF

— Julian Brigden (@JulianMI2) May 21, 2021

pretty interesting crypto and tesla crashing at the same time

https://i.imgur.com/9BjTSDO.png

one of the best moves

love when ppl post their bloomberg terminal screencaps it's such a nice little ego boost for them

mr big terminal

xpost silby, that gives me an idea for some twitter content for you :)

p sure the reason you don't know what all that means is because it doesn't mean anything

idk that guy has a bloomberg terminal

it's a possible bull trap. but possible bull traps also include a significant possibility of bear traps! don't look at the stock market in the eyes - look at its shoulder(s)

wait wait, hold on: "don't look a BEAR market in the eyes - look at its shoulder(s)."

there's my $1M slogan, finally

I think it's a possible coyote trap -- coyotes are like bullish bears that may change their minds and become bearish bulls

l, r; me, crypto currencies

https://i.imgur.com/4Dy2nYj.jpg

my standard take of late for crypto is SOON THE SUNSPOT WILL COME AND CLEANSE US ALL

Madoff dying was the reason why Bitcoin's been doing so well. now that there's an angel in heaven blessing Ponzi schemes the price can only go up uP UP!!!

― frogbs, Friday, 21 May 2021 16:25 (three hours ago) bookmarkflaglink

Oddly enough, Madoff died the same day as the Coinbase public offering which was also the bitcoin top.

lol

BREAKING: DeFi100 coin exit scams, and runs away with $32 million in investors funds.

Website is now updated with the message “We scammed you guys, and you can’t do shit about it” pic.twitter.com/uyeYUDgbwo

— Mr. Whale (@CryptoWhale) May 22, 2021

jfc

#NewProfilePic pic.twitter.com/JrMUkryZuk

— Nayib Bukele 🇸🇻 (@nayibbukele) June 6, 2021

would we like to see a global crypto contagion folks

I think there are banks that are exposed to crypto in ways far more insidious than anyone talks about.

Real currency and secret "commercial" paper has to flow through banks or the whole laundry is pointless.

C looks pretty sus

— Mindful Capitalist #TeamFiat (@HappiestYogi) June 25, 2021

crypto is going to end all that shadiness

crypto fixes that

it's a relief because man the banking industry is pretty shady

y'know what, cryptocurrency is so cool i think i'll just make it my whole personality from now on

can anyone summarize for me why crypto people on social media are having fits right now?

i'm mostly just seeing people dunking on them for being sad, which, fair enough

u.s. senate is discussing regulation of crypto

https://www.bloombergquint.com/politics/outgunned-crypto-lobbyists-falter-in-bid-to-fix-broad-tax-rules

gasp!

1/ Some really sketchy behavior coming out of the SEC recently.
Story time…

— Brian Armstrong (@brian_armstrong) September 8, 2021

the thread is not about sketchy behavior by the SEC btw

5/ They responded by telling us this lend feature is a security. Ok - seems strange, how can lending be a security? So we ask the SEC to help us understand and share their view. We always make an effort to work proactively with regulators, and keep an open mind.

— Brian Armstrong (@brian_armstrong) September 8, 2021

Seriously are you an idiot. Try the FIRST PAGE of The Securities Act of 1933. pic.twitter.com/5VxhJpTHPE

— John_Hempton (@John_Hempton) September 8, 2021

lol yeah I saw that thread. you don't even need to read the Exchange Act, it's like "ever heard of a bond?"

also I like that Hempton guy, I read some of his stuff on Greensill/Credit Suisse.

*Securities Act, sorry

i was going to say maybe he didn't talk to a lawyer (however much i couldn't believe that) but his chief legal officer has posted more whining on their website. then i was wondering if there has ever been a time when badmouthing a regulator has been a successful strategy. it's one thing to do it defensively ("we are being unfairly targeted by this action" after the action has commenced) but complaining before you've been sued, after *you went to them with your little scam* that "our regulator is suing us and won't tell us why!" doesn't make it less likely that your regulator will sue you, because now you drew a bunch of attention to it and they can't just quietly settle it now. the complaint will explain it better so you can understand it YOU ABSOLUTE DOLT

exhibit 9 million proving that you have to be stupid to become a bitcoin guy

its wild that theyre a publicly traded company behaving like this

Goddamn, this is so deeply dumb

Coinbase’s Lend program doesn’t qualify as a security — or to use more specific legal terms, it’s not an investment contract or a note. Customers won’t be “investing” in the program, but rather lending the USDC they hold on Coinbase’s platform in connection with their existing relationship. And although Lend customers will earn interest from their participation in the program, we have an obligation to pay this interest regardless of Coinbase’s broader business activities. What’s more, participating customers’ principal is secure and we’re obligated to repay their USDC on request.

"this isn't a table, it has four legs supporting a flat surface!"