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
― longtime caller, first time listener (man alive), Monday, 11 October 2021 02:03 (two years ago) link
amazing that most of Bitcoin's trillion dollar market cap is based off money which nearly everyone suspects doesn't exist
― frogbs, Monday, 11 October 2021 02:06 (two years ago) link
and that people were calling a fraud from basically the moment it was launched
― lag∞n, Monday, 11 October 2021 02:08 (two years ago) link
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.
― longtime caller, first time listener (man alive), Monday, 11 October 2021 02:13 (two years ago) link
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
― lag∞n, Monday, 11 October 2021 02:18 (two years ago) link
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.
― longtime caller, first time listener (man alive), Monday, 11 October 2021 02:22 (two years ago) link
yeah they shouldve done something at least
― lag∞n, Monday, 11 October 2021 02:24 (two years ago) link
jfc lmao
https://i.imgur.com/3YQr017.png
― lag∞n, Monday, 11 October 2021 02:25 (two years ago) link
lol I know
― longtime caller, first time listener (man alive), Monday, 11 October 2021 02:25 (two years ago) link
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.
― longtime caller, first time listener (man alive), Monday, 11 October 2021 02:28 (two years ago) link
beautiful
― lag∞n, Monday, 11 October 2021 02:30 (two years ago) link
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.
― lag∞n, Monday, 11 October 2021 02:39 (two years ago) link
I know! I feel a bit numbed to the unreality of reality at this point, but holy shit.
― longtime caller, first time listener (man alive), Monday, 11 October 2021 02:42 (two years ago) link
it's like Pynchon
― longtime caller, first time listener (man alive), Monday, 11 October 2021 03:00 (two years ago) link
otm
― bobo honkin' slobo babe (sic), Monday, 11 October 2021 03:03 (two years ago) link
nothing is real
― typo hell #12: a hundreds of millions of people (Karl Malone), Monday, 11 October 2021 03:57 (two years ago) link
nothing is real but crypto is even less real
― lag∞n, Monday, 11 October 2021 11:59 (two years ago) link
Crypto is so dystopian
https://www.bloomberg.com/opinion/articles/2021-08-27/taxpayers-subsidize-bitcoin-miner-stronghold-digital-s-ipo
Who’s Subsidizing This Bitcoin Miner IPO? You Are.Stronghold Digital gets hefty state credits for burning waste coal, exploiting a Pennsylvania law deeming this to be somehow environmentally friendly.
― longtime caller, first time listener (man alive), Wednesday, 13 October 2021 22:26 (two years ago) link
and watch that ipo take off like a rocket too. Fuck me.
― longtime caller, first time listener (man alive), Wednesday, 13 October 2021 22:27 (two years ago) link
Bitcoin priceOne month ago: $45,250One week ago: $49,300Now: $57,300— The Spectator Index (@spectatorindex) October 13, 2021
― reggae mike love (polyphonic), Wednesday, 13 October 2021 23:11 (two years ago) link
thats a lotta bits baby
― lag∞n, Wednesday, 13 October 2021 23:23 (two years ago) link
jack really able to focus now that hes not at twitter
JUST IN: Square is renaming itself "Block" as it focuses on technologies like blockchain and expands beyond its original credit card reader business. Block will still trade under the ticker $SQ on the Nasdaq.https://t.co/JYSLUjPyfU— CNBC Now (@CNBCnow) December 1, 2021
― lag∞n, Wednesday, 1 December 2021 21:37 (two years ago) link
Inflation at long-term high, bitcoin falling apart. Great hedge.
― longtime caller, first time listener (man alive), Friday, 21 January 2022 16:37 (two years ago) link
. . . the vulnerability was discovered and a "fix was pushed to GitHub a couple weeks ago but not deployed. So the attacker found the exploit by scanning the commits to GitHub."
Incidentally this is sort of a nice metaphor for the fact that an apparently huge source of alpha in crypto consists of:
1. There is a mistake.2. People notice the mistake and try to correct it.3. Because crypto is all open-source and on the blockchain, you can see them trying to correct it.4. Because crypto effectively conducts auctions to decide whose transactions go first, you can jump ahead of them in line and exploit the mistake before they can correct it.
― mookieproof, Thursday, 3 February 2022 22:18 (two years ago) link
lol good stuff
― lag∞n, Thursday, 3 February 2022 22:22 (two years ago) link
Only a small part of this is about bitcoin, but enjoyed listening to Peter Zeihan destroy the ARK dorks (even if I don't know if he's completely right and he's a bit of a douche):
https://podcasts.apple.com/au/podcast/geopolitics-innovation-and-deglobalization-with/id1271691895?i=1000559699112
― longtime caller, first time listener (man alive), Friday, 6 May 2022 13:53 (one year ago) link
Schadenfreude level: moderate. Need it to go down to pre-COVID levels to really get excited.
― longtime caller, first time listener (man alive), Tuesday, 10 May 2022 01:41 (one year ago) link
when your coins are v. stable
https://www.bloomberg.com/opinion/articles/2022-05-10/another-algorithmic-stablecoin-isn-t
― mookieproof, Tuesday, 10 May 2022 21:44 (one year ago) link
now down to 0.47 which is hilarious
― just sayin, Wednesday, 11 May 2022 07:23 (one year ago) link
not so funny reading all the regular ppl who have lost a lot of money
― just sayin, Wednesday, 11 May 2022 08:38 (one year ago) link
https://pbs.twimg.com/media/FSdVTofUcAER44v?format=jpg&name=large
― lag∞n, Wednesday, 11 May 2022 13:05 (one year ago) link
#Luna has fallen below $1 mark.High chances of Terra Luna going to zero.$UST is at 0.30. #cryptocurrency #Cryptocrash #ustdepeg pic.twitter.com/FUlnilbCh9— AltcoinSea.com (@AltcoinSea) May 11, 2022
― lag∞n, Wednesday, 11 May 2022 13:06 (one year ago) link
this is true, but what do you want? for the regular people to make money? on cryptocurrency? for no reason? so they could live on it? just because they "held onto it"? that's what fucking social security used to be for, before it was gutted!
― Bruce Stingbean (Karl Malone), Wednesday, 11 May 2022 13:56 (one year ago) link
regular people should get the fuck out of cryptocurrency. at least with subprime mortgages some people temporarily got a shitty home out of it
it's not funny, it sucks for the people, but for fuck's sake, regular people, stop buying it and trading it and broing the fuck out of it. and for fuck's sake, rich ass people who dominate our world, stop integrating it into everything, stop making crypto icons and inserting them between what two ass cheeks of icons were already there on the app, stop putting it on the fucking sports stadium, stop putting it in space, just everyone on earth the shut the fuck up and turn out the lights
― Bruce Stingbean (Karl Malone), Wednesday, 11 May 2022 13:58 (one year ago) link
regular people can be assholes too, and when they engage in assholish behaviour like investing in crypto...
― corrs unplugged, Wednesday, 11 May 2022 13:58 (one year ago) link
either none of it is funny, or it's ALL funny, because all of this is a giant fucking joke
hehe yes but a sad lol kind of joke
― corrs unplugged, Wednesday, 11 May 2022 13:59 (one year ago) link
this is true, haha
― Bruce Stingbean (Karl Malone), Wednesday, 11 May 2022 14:01 (one year ago) link
a dark humor, about the world
― lag∞n, Wednesday, 11 May 2022 14:11 (one year ago) link
i feel like a drawing in a medieval cartoon, and the village guy with the tall hat has put leeches on me and is preparing a custom brew with a frog leg hanging over the tip of the cup (which is made of shit and mud), and then finally i just let it all out, shit and blood, but also so much crypto
― Bruce Stingbean (Karl Malone), Wednesday, 11 May 2022 14:15 (one year ago) link
and then the dog starts licking it
and then the dog gets rich, for the next 5 years, and can't stop telling everyone about crypto
the dog has a too human face
― lag∞n, Wednesday, 11 May 2022 14:23 (one year ago) link
https://i.imgur.com/YptEifq.jpg
"a bunch of hoomans don't know how to hodl"
― Bruce Stingbean (Karl Malone), Wednesday, 11 May 2022 14:28 (one year ago) link
https://pbs.twimg.com/media/FR_Xp_uXsAAxTHU?format=png&name=small
― lag∞n, Wednesday, 11 May 2022 14:31 (one year ago) link
Probably the most retarded thread ive read this decade.Silence is a perfectly acceptable option if stupid.Billionaires in my following, go ahead, see what happens https://t.co/wtt9OhX4kg— Do Kwon 🌕 (@stablekwon) November 28, 2021
― lag∞n, Wednesday, 11 May 2022 15:10 (one year ago) link
went up a bit and then back down during the time i was on a teams with a guy from the co op talking thru what shd go in my will (unrelated, 1 hr max)
― mark s, Wednesday, 11 May 2022 15:34 (one year ago) link
lol hate server issues
High system and blockchain load today. Binance P2P trading had a server issue, and is in maintenance mode. Our team is on it. Should recover in 30-60 min. All other systems (spot & futures) are fine.— CZ 🔶 Binance (@cz_binance) May 11, 2022
― lag∞n, Wednesday, 11 May 2022 15:36 (one year ago) link
― mookieproof, Tuesday, May 10, 2022 5:44 PM (yesterday) bookmarkflaglink
good overview of this weird shit for interested readers
― lag∞n, Wednesday, 11 May 2022 15:48 (one year ago) link