bit¢oin$

what is the levine footnote abt roulette, i feel that's what i need to process rn

yeah thats why i think crypto doesnt have another boom in it cause this cycle was the big push for retail investors and now theyre all out of suckers xp

once those superbowl ads aired you know it was only a matter of time

seems kind of obvious that a firm that deals with tokens whose only purpose is to function as a store of value might have this sort of problem

at some point there wont be enough infrastructure to support games theyre playing with bitcoins price and it too will be all gone

― lag∞n, Tuesday, November 15, 2022 1:09 PM (five minutes ago) bookmarkflaglink

if it drops far enough people will start using real money to buy it but then itll prob crash again as whales try to get anything they can for their worthless computer tokens

lol yeah as soon as it became clear they were gonna run Super Bowl ads every smart person I know who follows this stuff said "pull your money out now"

"A monk-like aesthetic extends from his clothes...to his personal life. He shares a penthouse with about 10 roommates and cooks for himself." pic.twitter.com/Cx7QE86Bif

— Eric Levitz (@EricLevitz) November 14, 2022

yeah thats why i think crypto doesnt have another boom in it cause this cycle was the big push for retail investors and now theyre all out of suckers xp

yeah but the new marks are born every day. isn't crypto especially appealing to younger people?

https://i.imgur.com/PoX1Hwa.png
https://www.pewresearch.org/fact-tank/2021/11/11/16-of-americans-say-they-have-ever-invested-in-traded-or-used-cryptocurrency/

i just deleted a bunch of misanthropic speculative bullshit but i think we can all think of reasons why

idk at some point the reputation is just too bad

i do think crypto will survive to fulfill its one true use: crime, but it doesnt need to be worth a lot for that, just needs to be worth something

having learned about the hawala system from the excellent Joseph Gordon-Levitt vehicle PREMIUM RUSH (2012), I think cryptocurrency is an unnecessary complication

for crimes

hawala is better its true but not everyone has access to it, crypto all u need is a computer baby

still be some speculators around the edges too prob but this thing where vcs are pumping cash into the ecosystem, superbowl ads and so forth, thinking its over

tho there are still the whales to contend with they want their cyber coins to be worth something not nothing, will be interesting i guess to see what they get up to, still they do need suckers, and if the suckers run out, maybe they can keep the scheme rolling on a smaller scale

The FTX exploiter, who has been dumping all other drained assets for ETH, is now one of the largest holders in the world, with 228,523 ETH ($284.82m) currently in their wallet.

Everyone should keep an extremely close eye on what happens next... pic.twitter.com/SAP3UkyVaa

— Dylan LeClair 🟠 (@DylanLeClair_) November 15, 2022

is this good?

its hardcore crypto

Everyone should keep an extremely close eye on what happens next...

Some more crypto bullshit prob

The Levine footnote is sadly not about roulette, it's just pointing out that the Fed won't help, but the Federal Deposit Insurance Corp will - but it'll help depositors not the bank.

Yeah I didn’t post the rest of that newsletter just to avoid a wall of text but it’s all good. It’s free to subscribe!

rip winklevii

*CRYPTO BROKER GENESIS SUSPENDS WITHDRAWALS, ORIGINATIONS IN LENDING BUSINESS pic.twitter.com/1O5mPdfrsW

— Investing.com (@Investingcom) November 16, 2022

https://pbs.twimg.com/media/FhsOI4CWAAI3UeU?format=jpg&name=medium

post trunkless legs of stone

idk why that always reminds of ethan canin's "palace thief" a moment before it reminds of shelley

ethan canin another notable stanford person, btw

Are all Stanford grads psychos and grifters

i mean, i certainly am. but i only know a small fraction of the 10k ppl they graduate every year

sometimes life creeps up on you

So @kelseytuoc has been DMing with SBF and … just … my Godhttps://t.co/NbvlomnQhC pic.twitter.com/Ra4Xq5ZeHq

— dylan matthews (@dylanmatt) November 16, 2022

having a hard time figuring out what to make of bankman f he is very odd

Got gifted kid issues, had a job at Jane Street but the highs weren’t high enough, HFT is just ordinary market making now, he wanted to do crazy trades with other people’s money

Possibly doesn’t have a lawyer

seemingly has some sociopathic qualities, the disconnectedness just looking at the world as problem to figure out, but not full on sociopath doesnt seem to have the cruelty

ah yeah lol

https://pbs.twimg.com/media/Fhtr12aXkAMDglE?format=jpg&name=medium

he is the son of two lawyers, should have a lawyer xp

whaaa, is that last text exchange real? it's an irl scooby-doo unmasked villain explaining the whole game scenario

its real lol, see linked vox article in previous tweet

I wonder if this was his attitude the whole time or if "hey man regulations are bullshit and there is no such thing as ethical behavior" is all post-hoc

i would guess that if he ever cared about other people, it was early on and then he faced an "ethical dilemma" and chose the path with all the money

I just want someone to assure me that my bored ape is still worth $1.5M

lol, is he literally admitting that the whole effective altruism thing was a charade?

Ethics = being woke, YEP

i think he still prob agreed with the core of effective altruism that him getting all the money was good

A class action lawsuit has been launched against FTX’s former chief executive Sam Bankman-Fried over the crypto exchange’s collapse which also names as defendants a host of its celebrity backers including Larry David, Naomi Osaka, Gisele Bündchen and Shaquille O’Neal.

Filed in Florida by class action attorney Adam Moskowitz, the case is one of the first to attempt to hold the sports stars and entertainers who promoted cryptocurrencies in the boom years responsible for their support.

As well as naming Bankman-Fried as a personal defendant, the case pulls in as co-defendants a host of names who it claims “either controlled, promoted, assisted in, (or) actively participated in FTX Trading”.

They include: comedian Larry David; Japanese tennis star Naomi Osaka; the married couple Gisele Bundchen and Tom Brady and his fellow NFL star Trevor Lawrence; basketball players Shaquille O’Neal, Steph Curry, Udonis Haslem and the Golden State Warriors; baseball players Shohei Ohtani and David Ortiz; and celebrity investor Kevin O’Leary.

sometimes a shady trading operation with close ties to your company creeps up on you

There is something a little different about his vibe, a little more self-aware, a little less genuinely grandiose than IDK, WeWork guy.

wework guy is just a garden variety egomaniacal huckster, sbf is something weirder

lmao

(3/3) Mr. Bankman-Fried has no ongoing role at @FTX_Official, FTX US, or Alameda Research Ltd. and does not speak on their behalf.

— FTX (@FTX_Official) November 16, 2022

Suing him for what he’s worth negative 50 billion dollars right now

ah well nevertheless

JUST IN: Singapore’s state-owned investor Temasek has decided to write down its entire $275 million investment in FTX, saying its belief in Sam Bankman-Fried was likely “misplaced" https://t.co/ik34KJrA2t

— Bloomberg (@business) November 17, 2022

P funny that Larry David is getting sued for literally telling people not to get involved with this company.