Crypto CEO Accidentally Describes Ponzi Scheme--UPDATE--Bankman-Fried arrested in the Bahamas on money laundering and fraud charges.

Joined
May 1, 2012
Messages
69,126
Reputation
11,422
Daps
241,644
Reppin
206 & 734
When "back to precovid levels" is not a good thing :huhldup:
image.png

 

Propaganda

Superstar
Joined
May 1, 2012
Messages
5,507
Reputation
1,355
Daps
18,272
Reppin
416
the stupidest part of this is that the sec has had ripple tied up in a bullshyt lawsuit for years now...meanwhile gensler is taking meetings with sbf as he's pulling off this fukkery behind the scene.

they (or congress, or the cftc, SOMEONE) needs to get their shyt together and come up with some clear regulation for crypto. it's ridiculous that the us is dragging their feet on this.
 

yseJ

Empire strikes back
Joined
Apr 30, 2012
Messages
44,816
Reputation
2,599
Daps
64,540
Reppin
The Yay
the stupidest part of this is that the sec has had ripple tied up in a bullshyt lawsuit for years now...meanwhile gensler is taking meetings with sbf as he's pulling off this fukkery behind the scene.

they (or congress, or the cftc, SOMEONE) needs to get their shyt together and come up with some clear regulation for crypto. it's ridiculous that the us is dragging their feet on this.
a lot of crypto and its blatantly retarded lil bro nft, have mostly been about avoiding regulations and printing money off thin air as opposed to value-based practical implications. for 99% of use cases all the positives of crypto payments can be done with 2-3 major crypto currencies

most of them are ponzi schemes and all about pumping its own value as much as possible either for selling off or perceived value. its a wild wild west. to me its simple, if it applies to stocks, it should apply to all crypto as well.



and hell, some mechanism that could prevent overvaluation of regular securities altogether could ALSO use a fukking pass... or a hundred
all stock market crashes are due to dumb overvaluation in which people print money from thin air, and the regular folk are the ones who get fukked
 

Propaganda

Superstar
Joined
May 1, 2012
Messages
5,507
Reputation
1,355
Daps
18,272
Reppin
416
a lot of crypto and its blatantly retarded lil bro nft, have mostly been about avoiding regulations and printing money off thin air as opposed to value-based practical implications. for 99% of use cases all the positives of crypto payments can be done with 2-3 major crypto currencies

most of them are ponzi schemes and all about pumping its own value as much as possible either for selling off or perceived value. its a wild wild west. to me its simple, if it applies to stocks, it should apply to all crypto as well.



and hell, some mechanism that could prevent overvaluation of regular securities altogether could ALSO use a fukking pass... or a hundred
all stock market crashes are due to dumb overvaluation in which people print money from thin air, and the regular folk are the ones who get fukked

avoiding what regulations? lol there's little to nothing outside of the sec seemingly deciding to pick and choose companies in the space to sue and then...what? they win, they settle, whatever. there's still no actual clarity. still no laws. nothing on the books.

i think the crypto market will mature to a point where actual value-based, practical, utility-driven assets will win out but for now...especially with basically no rules and oversight, it's still "the wild wild west" as you put it.:manny:
 
Top