bit¢oin$

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!"

It's not a security because it's not investing in scare quotes

its not a security man its a security, man

https://www.bloomberg.com/news/features/2021-10-07/crypto-mystery-where-s-the-69-billion-backing-the-stablecoin-tether?srnd=premium&sref=SCKvL4TY

Amazing reporting and a bit terrifying tbh

amazing that most of Bitcoin's trillion dollar market cap is based off money which nearly everyone suspects doesn't exist

and that people were calling a fraud from basically the moment it was launched

Yeah, that's a big part of what I find terrifying about it, that this blatant fraud has been allowed to go on for years in plain sight and to become systemically risky and it doesn't seem like anyone is doing anything about it, or nothing sufficient anyway.

the lack of regulation in general around crypto is wild, its a common belief in the culture that obviously illegal things arent illegal because its crypto, but you can see how one might come to that conclusion

this might be a little challopsy, but I think the feds should have squashed crypto the second it looked like it was getting any traction. When you're a sovereign government, you don't let people tinker with the idea of having a rival currency, just like you don't let people try to have a rival army or a rival police force.

yeah they shouldve done something at least

jfc lmao

https://i.imgur.com/3YQr017.png

lol I know

This is my favorite part

Then 50, Devasini was almost elderly by cryptobro standards. Property records show he split his time between Milan and Monaco, where his home overlooks the Mediterranean. Pictures show a tall, handsome man with long, curly hair and a scarf wrapped around his neck. He modeled for a photo exhibition at an art gallery in Milan in 2014, appearing in front of a mirror, his face half covered with shaving cream, looking into his own eyes with an expression that suggested he didn’t recognize himself. The show was about turning points, and in an accompanying interview he said that his came in 1992, when he walked away from his career as a plastic surgeon. “All my work seemed like a scam, the exploitation of a whim,” he said.

He got into the low end of the electronics business, founding a series of tech companies that imported memory chips and set-top TV boxes. He started an online shopping site in Italy and licensed a copy protection technology for adult DVDs, according to a press release announcing a special bonus scene in the 2008 film Young Harlots: In Detention.

beautiful

come on!

The only financial institution I could find that was willing to say it’s currently working with the company was Deltec Bank & Trust in the Bahamas. I met the bank’s chairman, Jean Chalopin, in Deltec’s office, on the top floor of a six-story building ringed with palm trees in a nice part of Nassau. In a past life, Chalopin co-created the cartoon Inspector Gadget, and a painting of the 1980s trenchcoat-wearing cyborg policeman hung on his office door.

I know! I feel a bit numbed to the unreality of reality at this point, but holy shit.