Buttcoin

I've been reading through the top all time /r/hobbydrama posts and I keep coming back to this one. In a way, it's the best summary of the promises crypto makes I've seen. People buying fiefdoms in a game that doesn't exist because they so desperately want the experience of being kings, because they so desperately want to be the boot that grinds... it's beautiful to see this presented without the nonsense about supposed democratization or freedom.

the time capsule aspect is fascinating too. the layperson's innocence is now tainted by NFTs. you will never again see people struggle with the concept of this grift as purely as these posters did in 2017.

dude argues that he completely didn't intend to steal exchange funds, nuh uh it's all there, there's even an assertion (just like with tether) damages are only whatever fees liquidators took, pinky swear. wire fraud? no wai

The lawyer's submission was accompanied by letters of support from Bankman-Fried's parents, psychiatrist, and others.

his fellow cultists and equally complicit parents even wrote a letter! what do you mean power of friendship is not get out of jail free card? and he has given money to ~~cultists~~ charity that obviously means he's a good man with impeccable moral integrity

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on a slightly unrelated note, on r/buttcoin i've stumbled upon a take on tether that it's used as a device for capital flight from china. allegedly ftx had major role in this

cross-posted from: https://lemmy.dbzer0.com/post/15238521

Yet another "brilliant" scheme from a cryptobro. Naturally this caused a gold-rush for scammers who outsourced random people via the gig economy to open PRs for this yml file (example)

I met a traveller from an antique land,
Who said — Two vast and trunkless legs of stone
Stand in the desert. … Near them, on the sand,
Half sunk a shattered visage lies, whose frown,
And wrinkled lip, and sneer of cold command,
Tell that its sculptor well those passions read
Which yet survive, stamped on these lifeless things,
The hand that mocked them, and the heart that fed;
And on the pedestal, these words appear:
FORTUNE FAVORS THE BR—
Nothing beside remains. Round the decay
Of that colossal Wreck, boundless and bare
The lone and level sands stretch far away.

Edward Snowden [blue checkmark] @snowden
Unpopular but true: Bitcoin is the most significant monetary advance since the creation of coinage.

If you don't believe me or don't get it, I don't have time to try to convince you, sorry.

Ed pls.

archive: https://archive.ph/SicAy

Yesterday, the business section of El País, the Spanish newspaper of record, published this story.

It details how now people are investing in "tokens" using the blockchain, in something that looks pretty much like a regular REIT to me. 12 % average annual return, 6 % to 10 % MER. I already know the end of this movie.

I've contacted the local regulator (the Spanish SEC if you want) and asked them if they have published any information about this ~~scam~~ very sophisticated product.

I was wondering if this is also a thing outside of Spain. We can't have been the first ones to invent this shit.

If you can't access it due to the paywall I can send you a PDF, just DM me.

And I’m never wrong about this stuff. Never.

that drop was one hour after the latest billion tethers

the new narrative is apparently that the pump is in 90 days when financial advisors are finally ready to push bitcoin ETFs on their customers (for some reason)

ETFs put bitcoin on steroids!! y'know, asthmatic with shrunken balls

the bitcoin market is fake and in tethers, but the retail securities market is real and in dollars

my brother in Satoshi, you are the exit liquidity

yes, feel free to ask some here yourselves

* within acceptable margins of error

#1 We're All Gonna Make It: https://www.youtube.com/watch?v=yp0diaVLPrQ

#2 Ethereum: https://www.facebook.com/randizberg/videos/nobodyme-ok-heres-another-music-video-had-a-blast-on-this-collab-with-hila-the-k/531145045349722/

#3 Hello This Is Defi: https://twitter.com/randizuckerberg/status/1494416366710910992

Surgeon General's Warning: watching all of these back to back may make your brain ooze out of your nose.