AUDub 11,153 Posted November 6, 2023 Share Posted November 6, 2023 Watch the video I posted above regarding crypto. Hilton and Fallon are an example he uses. 1 Link to comment Share on other sites More sharing options...
AUDub 11,153 Posted November 6, 2023 Share Posted November 6, 2023 1 hour ago, DKW 86 said: The behemoth of govt regulations cannot possibly keep up with the permutations and daily changes in Bitcoin. It is by design a ponzi scheme. You cannot regulate anything that can redesign and redefine over night. What SBF did with the transfers from FTX to Alameda was classic ponzi scheme. It was hidden from so many in the company to hide the looming implosion and it basically imploded over a few short weeks. No govt regulation will stop that. So, Next step...No Govt Guarantee of Value, like FDIC Insurance. When the Silicon Valley Bank went under, we guaranteed value we were not on the hook to cover. Why? Because those people give donations to pols. So they bought themselves insurance the rest of us cant get, ever. So, if we allow the govt to insure every dumbass investment scheme people will just invest in anything because they cant lose their money, thereby making it all the more worse. Suddenly things even more hair-brained than dogecoin will be out there being invested in. Bored Monkey NFTs? There is nothing dumber than that. And yet we have celecrities endording this s***. how perfect that Paris Hilton and Jimmy Fallon were at the forefront of this. Crypto is BLATANT securities fraud. That’s really all it is, gambling with unregistered securities. The government needs to regulate it and soon will. Eventually the laws will catch up. 1 Link to comment Share on other sites More sharing options...
DKW 86 7,426 Posted November 6, 2023 Share Posted November 6, 2023 (edited) On 11/6/2023 at 9:36 AM, AUDub said: Crypto is BLATANT securities fraud. That’s really all it is, gambling with unregistered securities. The government needs to regulate it and soon will. Eventually the laws will catch up. Exactly. It is people trying to get around govt regulation. That is why i no longer even worry about those that lose money with Bitcoin. I watched almost my entire first IT Dept waste their investment money and their day watching when they would become Bazillionaires so they could quit work. I think it is a waste of time regulating it. That is what the crypto people, at least the few good ones want. They want govt bailout for all their bad decisions. On my last job, I was tasked with setting up a Firewall hole so that the user could all watch their crypto investments IRL during the day. I just laughed to my self as they all started losing one by one... Edited March 30 by DKW 86 Link to comment Share on other sites More sharing options...
E'Town4Bama 111 Posted March 30 Author Share Posted March 30 SBF got 25 years for embezzling 8 billion dollars. He got off light in my opinion. Sure there will be appeals and his sentence will probably be reduced, he maybe even pardoned. I have seen crazier things. Link to comment Share on other sites More sharing options...
WillMunny 1,378 Posted March 30 Share Posted March 30 On 11/6/2023 at 12:56 PM, DKW 86 said: Exactly. It is people trying to get around govt regulation. That is why i no longer even worry about those that lose money with Bitcoin. I watched almost my entire first IT Dept waste their investment money and their day watching when they would become Bazillionaires so they could quit work. I think it is a waste of time regulating it. That is what the crypto people, at least the few good ones want. They want govt bailout for all their bad decisions. On my last job, I was tasked with setting up a Firewall hole so that the user could all watch their crypto investments IRL during the day. I just laughed to my self as they all started losing one by one... Still laughing? Bitcoin is going thru the roof. Each coin is now valued at $70K. Still volatile, but many people are making money, and some are getting rich. I think it's great that people have found a way to get around government regulation. Cryptocurrency is a great way to keep the US government from stealing our money thru stupid taxes passed without our approval. But the hard and fast rule for crypto is this: never invest more than you can afford to lose. Yet people do it, then cry and call the police when they lose big. Ala FTX customers who invested millions that they could not afford to lose. When done wisely, crypto investing can pay off, with no trusted third party required. And I'm glad the US government is mad about it, because it surely is not a "trusted" third party. Link to comment Share on other sites More sharing options...
TexasTiger 12,949 Posted March 30 Share Posted March 30 9 minutes ago, WillMunny said: Cryptocurrency is a great way to keep the US government from stealing our money thru stupid taxes passed without our approval What approval process are you thinking about? Link to comment Share on other sites More sharing options...
AUDub 11,153 Posted March 30 Share Posted March 30 2 hours ago, WillMunny said: Still laughing? Bitcoin is going thru the roof. Each coin is now valued at $70K. Still volatile, but many people are making money, and some are getting rich. I think it's great that people have found a way to get around government regulation. Cryptocurrency is a great way to keep the US government from stealing our money thru stupid taxes passed without our approval. But the hard and fast rule for crypto is this: never invest more than you can afford to lose. Yet people do it, then cry and call the police when they lose big. Ala FTX customers who invested millions that they could not afford to lose. When done wisely, crypto investing can pay off, with no trusted third party required. And I'm glad the US government is mad about it, because it surely is not a "trusted" third party. Oh God a “true believer” 1 Link to comment Share on other sites More sharing options...
WillMunny 1,378 Posted March 31 Share Posted March 31 3 hours ago, AUDub said: Oh God a “true believer” I believe that Bitcoin is now worth $70K per coin. I believe that blockchain technology is very secure. Bitcoin successfully defined how secure blockchain technology should work. Its value plummeted after the FTX collapse, like all other cryptocurrencies, but has rebounded very well. From a computer science standpoint, blockchain technology is immensely interesting. I took a Udemy course on it so I could make sense of it. It was worth the time. I was skeptical at first but became convinced. I believe that any institution that wants centralized control of money would naturally feel threatened by a transition to cryptocurrency transactions, which can be strictly anonymous, thereby preventing traceability, and (more importantly) taxes from being assessed. Link to comment Share on other sites More sharing options...
AUDub 11,153 Posted March 31 Share Posted March 31 You can believe what you want. It’s not what Nakamoto’s white paper envisioned. It’s an unregistered, unregulated, volatile as **** security. There are cons and marks in this scheme. Which are you. 1 Link to comment Share on other sites More sharing options...
AUDub 11,153 Posted March 31 Share Posted March 31 Regulation would kill bitcoin, and for a damned good reason. It’s poison. 1 Link to comment Share on other sites More sharing options...
AUDub 11,153 Posted March 31 Share Posted March 31 You keep touting this “it’s worth 70k” bull. My dude, of course they are. That’s a huge tell in where you stand on this. “There’s money to be made. From money.” Link to comment Share on other sites More sharing options...
WillMunny 1,378 Posted March 31 Share Posted March 31 9 hours ago, AUDub said: You keep touting this “it’s worth 70k” bull. My dude, of course they are. That’s a huge tell in where you stand on this. “There’s money to be made. From money.” Bitcoin is currently valued at $70K per coin. That's a fact. It is a success, and can be part of a sensible investment plan. It has rebounded very well from the damage caused by SBF. I have several friends who invest in Bitcoin, but they are wise investors and never invest more than they can afford to lose, and have done very well with Bitcoin. The only danger is investing more than you can afford to lose, and that can be very dangerous. And when people do that, they have no one to blame except themselves. As crooked as SBF was, he didn't twist anyone's arm and force them to violate that hard and fast rule. This will be my final post on this subject, as our back-and-forth seems to be heading from a discussion toward an argument. Link to comment Share on other sites More sharing options...
arein0 967 Posted March 31 Share Posted March 31 1 hour ago, WillMunny said: Bitcoin is currently valued at $70K per coin. That's a fact. It is a success, and can be part of a sensible investment plan. It has rebounded very well from the damage caused by SBF. I have several friends who invest in Bitcoin, but they are wise investors and never invest more than they can afford to lose, and have done very well with Bitcoin. The only danger is investing more than you can afford to lose, and that can be very dangerous. And when people do that, they have no one to blame except themselves. As crooked as SBF was, he didn't twist anyone's arm and force them to violate that hard and fast rule. This will be my final post on this subject, as our back-and-forth seems to be heading from a discussion toward an argument. They also recently released bitcoin etfs, making it more accessible. 1 Link to comment Share on other sites More sharing options...
E'Town4Bama 111 Posted March 31 Author Share Posted March 31 Does Sam keep his portfolio or is it gone? Link to comment Share on other sites More sharing options...
AUDub 11,153 Posted April 1 Share Posted April 1 11 hours ago, WillMunny said: Bitcoin is currently valued at $70K per coin. That's a fact. It is a success, and can be part of a sensible investment plan. It has rebounded very well from the damage caused by SBF. I have several friends who invest in Bitcoin, but they are wise investors and never invest more than they can afford to lose, and have done very well with Bitcoin. The only danger is investing more than you can afford to lose, and that can be very dangerous. And when people do that, they have no one to blame except themselves. As crooked as SBF was, he didn't twist anyone's arm and force them to violate that hard and fast rule. This will be my final post on this subject, as our back-and-forth seems to be heading from a discussion toward an argument. Even if Btc goes to a million, and it won’t, it would still essentially be useless. It’s just a buy or sell speculation. It’s not a currency. 1 Link to comment Share on other sites More sharing options...
AUDub 11,153 Posted April 1 Share Posted April 1 This is all greater fool theory and FOMO. You make money on it simply because someone, somewhere was dumber than you. Again, cons and marks. Link to comment Share on other sites More sharing options...
CoffeeTiger 5,133 Posted April 1 Share Posted April 1 On 3/30/2024 at 5:44 PM, AUDub said: Oh God a “true believer” At least he's admitting that Bitcoin is just an investment that him and his friends are trying to time the market right to make some money off of, and doesn't seem to be arguing that it's a real viable currency that'll replace the US dollar or something. Link to comment Share on other sites More sharing options...
AUDub 11,153 Posted April 1 Share Posted April 1 17 hours ago, E'Town4Bama said: Does Sam keep his portfolio or is it gone? Part of his sentence is forfeiture of 11b. He’s also still got other pending charges. At the end of all of this he’s going to be flat broke. Link to comment Share on other sites More sharing options...
CoffeeTiger 5,133 Posted April 1 Share Posted April 1 5 hours ago, AUDub said: Part of his sentence is forfeiture of 11b. He’s also still got other pending charges. At the end of all of this he’s going to be flat broke. His family is well off and well connected. Sam will probably be broke on paper for the rest of his life, but will still manage to live a comfortable, upper class lifestyle. Link to comment Share on other sites More sharing options...
DKW 86 7,426 Posted April 1 Share Posted April 1 On 3/30/2024 at 3:22 PM, WillMunny said: Still laughing? Bitcoin is going thru the roof. Each coin is now valued at $70K. Still volatile, but many people are making money, and some are getting rich. I think it's great that people have found a way to get around government regulation. Cryptocurrency is a great way to keep the US government from stealing our money thru stupid taxes passed without our approval. But the hard and fast rule for crypto is this: never invest more than you can afford to lose. Yet people do it, then cry and call the police when they lose big. Ala FTX customers who invested millions that they could not afford to lose. When done wisely, crypto investing can pay off, with no trusted third party required. And I'm glad the US government is mad about it, because it surely is not a "trusted" third party. Then fine, just stop asking for the Fed Govt to bankroll it when it craters. 1 Link to comment Share on other sites More sharing options...
homersapien 11,388 Posted April 10 Share Posted April 10 On 3/30/2024 at 10:25 PM, AUDub said: You keep touting this “it’s worth 70k” bull. My dude, of course they are. That’s a huge tell in where you stand on this. “There’s money to be made. From money.” Well, it could be tulip bulbs. Link to comment Share on other sites More sharing options...
AUDub 11,153 Posted April 10 Share Posted April 10 53 minutes ago, homersapien said: Well, it could be tulip bulbs. Careful. Tulip bulbs are a trigger for crypto bros. 1 Link to comment Share on other sites More sharing options...
DKW 86 7,426 Posted April 13 Share Posted April 13 On 3/30/2024 at 9:14 PM, WillMunny said: I believe that Bitcoin is now worth $70K per coin. I believe that blockchain technology is very secure. I took a Udemy course on it. Everything I need to know about it right there. This is a crap investment. We need to get away from this now. The end game in all this is giving Fed Govt Backing to investment junk like BitCoin. Link to comment Share on other sites More sharing options...
homersapien 11,388 Posted April 13 Share Posted April 13 On 4/9/2024 at 10:15 PM, AUDub said: Careful. Tulip bulbs are a trigger for crypto bros. With good reason. Link to comment Share on other sites More sharing options...
DKW 86 7,426 Posted April 13 Share Posted April 13 On 3/31/2024 at 7:27 AM, WillMunny said: Bitcoin is currently valued at $70K per coin. That's a fact. It is a success, and can be part of a sensible investment plan. It has rebounded very well from the damage caused by SBF. I have several friends who invest in Bitcoin, but they are wise investors and never invest more than they can afford to lose, and have done very well with Bitcoin. The only danger is investing more than you can afford to lose, and that can be very dangerous. And when people do that, they have no one to blame except themselves. As crooked as SBF was, he didn't twist anyone's arm and force them to violate that hard and fast rule. This will be my final post on this subject, as our back-and-forth seems to be heading from a discussion toward an argument. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now