To give a very recent example, Enron existed in the "normal financial system" but turned out to be just as much of a Ponzi scheme as FTX, so this sort of thing is not really unprecedented. Bubbles based on financial/accounting/PR scams are as old as (modern) capitalism, cf. the South Sea Bubble, Dutch Tulip Bubble etc. etc.
― Critique of the Goth Programme (Neil S), Tuesday, 22 November 2022 10:14 (five hours ago) link
I mean literally the same guy who was appointed to oversee Enron during bankruptcy was appointed to oversee FTX during bankruptcy and came out and said he's never seen anything like this before.
― longtime caller, first time listener (man alive), Tuesday, 22 November 2022 15:23 (one year ago) link
haha wow
― Critique of the Goth Programme (Neil S), Tuesday, 22 November 2022 15:24 (one year ago) link
enron was a huge legitimate company that started doing fraud to cover for their very bad business decisions, ftx was 10 dudes in a room coding and doing day trading
― lag∞n, Tuesday, 22 November 2022 15:26 (one year ago) link
+getting vcs to give them money
― lag∞n, Tuesday, 22 November 2022 15:27 (one year ago) link
and lobby washington
https://www.vice.com/en/article/xgyp8d/how-sbf-created-the-new-playbook-for-manipulating-washington-dc
― lag∞n, Tuesday, 22 November 2022 15:29 (one year ago) link
living the dream really owning a massively rich company without the company part to worry about
― lag∞n, Tuesday, 22 November 2022 15:30 (one year ago) link
yeah, that's kinda what I'm saying, I don't think there was ever really much there with FTX.
― longtime caller, first time listener (man alive), Tuesday, 22 November 2022 15:33 (one year ago) link
There was a website, I guess
― G. D’Arcy Cheesewright (silby), Tuesday, 22 November 2022 15:50 (one year ago) link
people are saying good things about the website
― lag∞n, Tuesday, 22 November 2022 15:52 (one year ago) link
i fuckin love effective altruism
Based on preliminary investigations, $300m worth of Bahamian property was purchased by FTX and used by senior executives at the exchange— Frank Chaparro (@fintechfrank) November 22, 2022
― lag∞n, Tuesday, 22 November 2022 18:23 (one year ago) link
gonna start spamming this to anyone who lost money in FTX and see who bites
https://www.youtube.com/watch?v=FTHw6xryUIU
― frogbs, Wednesday, 23 November 2022 21:44 (one year ago) link
interesting anecdotes https://www.tbray.org/ongoing/When/202x/2022/11/19/AWS-Blockchain
― 𝔠𝔞𝔢𝔨 (caek), Wednesday, 23 November 2022 22:14 (one year ago) link
good story, traveling the world searching for a use for crypto
― lag∞n, Friday, 25 November 2022 13:59 (one year ago) link
someones been buying crazy amounts of tethers with another stablecoin for some reason
🚨Someone is working very hard to protect the Tether peg on Curve. One address has bought some $1.3 billion USDT on Curve with USDC over the last month, sending it all to Bitfinex... and given the tiny spread there is no way this is a profitable trade.🧵👇 pic.twitter.com/zUAF4HGezJ— DIRTY BUBBLE MEDIA: BARRY! (@MikeBurgersburg) November 25, 2022
― lag∞n, Friday, 25 November 2022 14:00 (one year ago) link
?
Mike - you misunderstand what’s going on here. Happy to chat with you on a space.You’ve got it backwards.Someone is actively trying to profit off of depegging USDT in DeFi. Then others are arbitraging it bad to peg and profiting on that. https://t.co/TMUC055GqT— Brad Mills (🔑,🧀) (@bradmillscan) November 25, 2022
― lag∞n, Friday, 25 November 2022 14:03 (one year ago) link
shorting tether seems like a very stupid game
― lag∞n, Friday, 25 November 2022 14:04 (one year ago) link
Ok I'm no longer angry at the 3AC clowns and am sitting back in my lazyboy for max comfort viewing. Shitposting right wing degen loses a few billion, disappears to Dubai, converts to Islam, becomes a new age lifestyle podcaster while looking over his shoulder for the FBI. Sure! https://t.co/FsPX9w8frG— Jacob Silverman (@SilvermanJacob) November 28, 2022
― lag∞n, Monday, 28 November 2022 19:22 (one year ago) link
How significant is this?
Today, BlockFi filed voluntary cases under Chapter 11 of the U.S. Bankruptcy Code.https://t.co/adaAx6me4r— BlockFi (@BlockFi) November 28, 2022
― Blues Guitar Solo Heatmap (Free Download) (upper mississippi sh@kedown), Monday, 28 November 2022 19:57 (one year ago) link
(was trending on Twitter)
really couldn't be a better time for fake "verified" twitter accounts to come into the mix of this shitstorm, could there
― longtime caller, first time listener (man alive), Monday, 28 November 2022 19:58 (one year ago) link
(not in ref to the blockfi thing, btw)
iirc blockfi has been known to be in trouble for a while now, so not really big seal imo
― 龜, Monday, 28 November 2022 22:53 (one year ago) link
This old SBF post arguing that Shakespeare is a “shitty writer” reveals him to be a plotcel rather than a word rotator https://t.co/prhwtLPDSf pic.twitter.com/8pEL2n6xpY— Andrew Prokop (@awprokop) November 29, 2022
― lag∞n, Tuesday, 29 November 2022 22:29 (one year ago) link
if he paid attention in high school he would have realized this was discussed in class lol
― mh, Tuesday, 29 November 2022 22:37 (one year ago) link
I’m glad I have the word “plotcel” to describe a kind of person I hate now!!
― G. D’Arcy Cheesewright (silby), Tuesday, 29 November 2022 22:44 (one year ago) link
isn't this the dude who says he doesn't read books? kind of checks out that everything he namechecks is something my high school english classes covered
"I've read these five books (teachers made me) and they are bad"
― mh, Tuesday, 29 November 2022 22:46 (one year ago) link
Damn, I can't believe Austen decided that women shouldn't have careers.
― jmm, Tuesday, 29 November 2022 22:47 (one year ago) link
finally someone said it
― lag∞n, Tuesday, 29 November 2022 22:55 (one year ago) link
And Shakespeare isn't alone in being a shitty writer from hundreds of years ago.
― difficult listening hour, Wednesday, 30 November 2022 01:12 (one year ago) link
anyway, so much for being doted on by the drossy age. blow them to their trials, the bubbles are out.
― difficult listening hour, Wednesday, 30 November 2022 02:29 (one year ago) link
Jane Austen lacked the imagination to believe that women could be capable of productive contributions to society, such as engaging in tulip arbitrage
― longtime caller, first time listener (man alive), Wednesday, 30 November 2022 04:21 (one year ago) link
all fall down
Miners, who raised as much as $4 billion from mining-equipment financing when profit margins were as high as 90%, are defaulting on loans and sending hundreds of thousands of machines that served as collateral back to lenders. New York Digital Investment Group, Celsius Network, BlockFi Inc., Galaxy Digital, and the Foundry unit of Digital Currency Group were among the biggest providers of funding to finance computer equipment and build data centers.
https://www.bloomberg.com/news/articles/2022-11-30/crypto-lenders-woes-worsen-as-bitcoin-btc-miners-struggle-to-repay-debt
― lag∞n, Wednesday, 30 November 2022 17:25 (one year ago) link
good news for pc gamers tho
nah bitcoin miners have all used custom ASICs for years now that have, like, no other purpose than hashing. GPUs were still viable for eth
― G. D’Arcy Cheesewright (silby), Wednesday, 30 November 2022 17:39 (one year ago) link
until the proof-of-stake switch made it irrelevant I guess
saw some thing that gpu prices are dow 50% over the last six months
― lag∞n, Wednesday, 30 November 2022 20:22 (one year ago) link
what a fucking farrago
― Tracer Hand, Wednesday, 30 November 2022 22:00 (one year ago) link
why wont this guy stop talking, hes genuinely strange
Let's see how this goes: https://t.co/BLtMDNIONI— @BennettTom✧✧✧@ms✧✧✧.soc✧✧✧ (@BennettTomlin) November 30, 2022
― lag∞n, Wednesday, 30 November 2022 22:37 (one year ago) link
he thinks he can just keep conning, the jig is up buddy
― lag∞n, Wednesday, 30 November 2022 22:38 (one year ago) link
Reporters don’t have friends
― G. D’Arcy Cheesewright (silby), Wednesday, 30 November 2022 22:43 (one year ago) link
Oh damn I meant to put the one in the thread where he’s like “my longtime friend who I forgot was a reporter” about the Vox reporter who definitely wasn’t his friend
yeah they def werent friends she had talked to him before for a story awhile doing her job as a reporter, its a bizarre claim
― lag∞n, Wednesday, 30 November 2022 22:47 (one year ago) link
He probably doesn’t really know what a “friend” is
― G. D’Arcy Cheesewright (silby), Wednesday, 30 November 2022 22:52 (one year ago) link
yeah something like that
― lag∞n, Wednesday, 30 November 2022 22:55 (one year ago) link
lol
Call me crazy, but I think @sbf is telling the truth.— Bill Ackman (@BillAckman) November 30, 2022
― lag∞n, Wednesday, 30 November 2022 22:57 (one year ago) link
https://vancouversun.com/news/world/cryptocurrency-billionaire-vyacheslav-taran-dies-in-mysterious-chopper-crash/wcm/94c27f47-ac91-493e-8098-c8e2f1ef3ffb
Cryptocurrency billionaire Vyacheslav Taran dies in mysterious chopper crashThe latest to die, according to the Daily Mail, is Russian billionaire Vyacheslav Taran, 53, who was killed in a Nov. 25 helicopter crash near the French resort town of Villefranche-sur-Mer after taking off from Lausanne, Switzerland.
The latest to die, according to the Daily Mail, is Russian billionaire Vyacheslav Taran, 53, who was killed in a Nov. 25 helicopter crash near the French resort town of Villefranche-sur-Mer after taking off from Lausanne, Switzerland.
― Elvis Telecom, Thursday, 1 December 2022 08:30 (one year ago) link
what’s the Russian expression for “where’s my money”?
― Tracer Hand, Thursday, 1 December 2022 10:20 (one year ago) link
I think it’s the sound of cocking a Glock
― assert (matttkkkk), Thursday, 1 December 2022 10:26 (one year ago) link
if sbf never stops confessing they can never start charging him tapsheadwisely.gif
― mark s, Thursday, 1 December 2022 11:26 (one year ago) link
More from here:https://cointelegraph.com/news/libertex-crypto-exchange-head-vyacheslav-taran-dies-in-helicopter-crash-in-france
Taran is the third crypto executive to die unexpectedly in recent weeks. Amber Group cofounder Tiantian Kullander (TT) died on Nov. 23 in his sleep at the age of 30, and MakerDAO cofounder Nikolai Mushegian drowned in Puerto Rico on Oct. 28 at the age of 29. Taran is also the latest in a long string of Russian businessmen to die under various circumstances.Taran’s death has led to some speculation in the press. The helicopter accident that claimed Taran’s life is under investigation; It took place in good weather conditions with an experienced pilot. According to France Bleu, a second passenger was booked for the flight but canceled at the last minute.
Taran’s death has led to some speculation in the press. The helicopter accident that claimed Taran’s life is under investigation; It took place in good weather conditions with an experienced pilot. According to France Bleu, a second passenger was booked for the flight but canceled at the last minute.
― Elvis Telecom, Thursday, 1 December 2022 12:25 (one year ago) link