Crypto lounge thread

Foolsgo1d

Peacock
Ah yes, if in doubt blame "hacks". The Jewish tricking the Goyim is a true art form. I see why they love doing it. Probably one of the oldest olympic sports in human history.
 

scorpion

Hummingbird
Gold Member

I warned about this a year and a half ago in the post above. All of these alt-coins and DeFi stuff are scams. Period. They are all Ponzi schemes. Crypto itself does not generate revenue, and therefore cannot provide any return to "investors". The only returns come from new money pouring in. SBF himself basically admitted this in an interview awhile back, to the shock of his dumbfounded interviewers.

Guys really need to get over this obsession with crypto. It's a scam that preys upon greed and laziness. It's telling you that you can get rich quick. I'm telling you that there is no free lunch. If you want wealth, you should be willing to work for it. If you want to invest your money, invest in time-tested, proven assets like real estate, gold and shares of large, profitable corporations. Most importantly, invest in YOURSELF and your personal skillset, as well as your health and network of personal relationships. Focusing on these things will set you up in the long term much better than just trying to get lucky with some crypto gambling (which is all that it is).

Ok, there's my boomer post for the day.

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Cynllo

Ostrich
Orthodox Inquirer

budoslavic

Eagle
Orthodox
Gold Member
Via 4 Chan, "FTX IS MORE OF A HAPPENING THAN FIRST THOUGHT"
A massive happening is looming for the Biden administration.
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April 25, 2019: Biden announces his presidential campaign.

13 days later, Sam Bankman-Fried, son of Barbara Fried ( Stanford Professor and co-founder of political fundraising organization "Mind-the-Gap), launches #FTX crypto exchange.

The exchange is magically an overnight success. SBF becomes biggest donor to Biden.

Election day, FTX implodes completely.
-----
Gabe Bankman-Fried, brother to Sam (also a former Jane Street trader), is founder of “Guarding Against Pandemics”

He was a Legislative Correspondent for the US House of Representatives and an advisor to large political donors in the Democrat party.

SBF's aunt, Linda Fried, is a WEF member on the Global Agenda Council on Aging.

SBF's father, Joseph Bankman, is a Stanford professor who has lobbied on behalf of Hedge Fund managers before Congress (film records exist of this).

FTX' Head of Ventures & Commercial, Amy Wu, started with the Clinton Foundation years ago.

Nishad Singh FTX Director of Engineering spent over 8 million for Dem candidates.

And finally Obama's Commodity Futures Trading Commissioner, Mark Wetjen was literally the head of FTX Policy & Regulation.

Reports were the organization wanted to spend over a billion dollars on the Democratic party for 2024.
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A massive, massive money laundering operation has just been broken open for the world to see.
 

Coja Petrus Uscan

Crow
Orthodox Inquirer
Gold Member
I know a BTC whale who knows Sam Bankman-Fried (SBF). Seen photos of them. Not a friend, just someone who moves in the same circles. He described him as a "lost soul" several months ago. I asked him about the rumours surrounding him. Namely, this type of stuff:



The head of crypto project MakerDAO tweeted that before turning up dead on a beach.


Maker is a platform to host decentralised applications, most notably the DAI stablecoin, which came close to destruction in the Mar 2020 flash crash.

So far this guy told me that SBF tried to get him to join a sex cult. Waiting for further details.
 

scorpion

Hummingbird
Gold Member
Ah yes, who could forget the polished reputation of the real estate industry and Wall Street, those shining beacons of trust and accountability, always looking out of the little guy...
Any "little guy" who's been steadily accumulating stocks and real estate over the past twenty years has done very well for himself. This is pretty much always the case, in fact. Because these are real assets that produce actual cash flows. Buy and hold conservative investments for the long term. It's easily dismissed these days as Boomer advice, but the Boomers didn't invent it. They acquired it themselves from generations past. Real estate and productive enterprise (stocks) are the most reliable generators of long term wealth, because at the end of the day, they are the foundation of wealth itself (in the sense that money is not wealth - it is a means of exchange, a unit of account and a store of value that allows people to engage in economic activity, and produce and procure for themselves the actual wealth that surrounds us, the wealth that, in sum, is the modern civilization in which we all partake).

I think one of the biggest problems in general with our economic system today (and particularly with crypto) is that people don't understand the difference between money and wealth. That's why these crypto Ponzi scams are possible. People see all this money floating around and assume there must be actual wealth (i.e. productive value) there. But there is not. It's all hot air.
 

Parmesan

Kingfisher
Other Christian
Any "little guy" who's been steadily accumulating stocks and real estate over the past twenty years has done very well for himself. This is pretty much always the case, in fact. Because these are real assets that produce actual cash flows. Buy and hold conservative investments for the long term. It's easily dismissed these days as Boomer advice, but the Boomers didn't invent it. They acquired it themselves from generations past. Real estate and productive enterprise (stocks) are the most reliable generators of long term wealth, because at the end of the day, they are the foundation of wealth itself (in the sense that money is not wealth - it is a means of exchange, a unit of account and a store of value that allows people to engage in economic activity, and produce and procure for themselves the actual wealth that surrounds us, the wealth that, in sum, is the modern civilization in which we all partake).

I think one of the biggest problems in general with our economic system today (and particularly with crypto) is that people don't understand the difference between money and wealth. That's why these crypto Ponzi scams are possible. People see all this money floating around and assume there must be actual wealth (i.e. productive value) there. But there is not. It's all hot air.
People make similarly naive decisions about stocks and real estate, which have been propped up for decades for the benefit of politics and insiders. They are still glorified speculative vehicles. Crypto is the Wild West, and yes, not everyone understands it, but there is real use cases for it, and the speculation surrounds to what extent those use cases will be adopted, thus inflating its demand and value. Assuming the last 50 years of stock and RE performance will simply be replicated as some force of nature, is blind to all the demographic, economic, and political influences that influenced their performance.
 

scorpion

Hummingbird
Gold Member
People make similarly naive decisions about stocks and real estate, which have been propped up for decades for the benefit of politics and insiders. They are still glorified speculative vehicles. Crypto is the Wild West, and yes, not everyone understands it, but there is real use cases for it, and the speculation surrounds to what extent those use cases will be adopted, thus inflating its demand and value. Assuming the last 50 years of stock and RE performance will simply be replicated as some force of nature, is blind to all the demographic, economic, and political influences that influenced their performance.

This is the type of overthinking that leads people to throw their money into a Jew crypto scammer's pocket.

"I can't invest in real estate and stocks, these are just speculative vehicles propped up by insiders! Instead I'm going to invest in XYZ coin and hopefully make 100x my money!"

I explained above the difference between money and wealth, and how real estate and productive enterprise are always valuable in monetary terms, precisely because they represent true wealth. There are always scams and shysters in every financial arena, but over the long term you simply won't go wrong owning real estate and profitable companies.

Crypto as it currently exists has no use cases. Bitcoin has been around for going on 15 years now, and is still completely useless except for speculation. Anyone saying otherwise is selling their book. I shudder to think how many guys on this forum lost their shirts over the past year on these crypto scams. That's why I occasionally pop in with a Boomer-take.

If you think you're so smart that you've figured out an entirely new financial paradigm in which wealth is not based on the ownership of valuable land and the productive industry of millions of people, but rather is contained in the blockchain, by all means, put all your money there. I'm sure plenty of FTX investors felt the same way. We see how well that worked out for them.
 

Eusebius Erasmus

Ostrich
Orthodox
All of this will usher in the goal of executive order 14067. Now the government will "investigate" what happened with ftx bad actors and will save the day with digital currency controlled by our central bank. Everything is proceeding as scheduled.
Yup. Remember that Bitcoin was allegedly created by the NSA, and still uses the NSA hashtag in its protocol.
 
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