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Thread: Bitcoin....who's gotten into it?
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11-15-2022, 10:54 AM #11226
If you really want to be sick:
https://mobile.twitter.com/philbak1/...09852957732864
Sequoia talking about SBF
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11-15-2022, 10:59 AM #11227
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11-15-2022, 11:00 AM #11228features a sintered base
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It's ok because I purchase my investment bindings through an exchange run by a totally reliable 28 year old bro I saw on YouTube. They store my investment bindings in overseas storage that I've never seen and can't verify--but like I said, guy was convincing on YouTube, so you STH naysayers are ignorant poopyheads.
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11-15-2022, 11:04 AM #11229
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11-15-2022, 11:19 AM #11230
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11-15-2022, 11:32 AM #11231
This happened during the Sequoia pitch:
https://www.businessinsider.in/inves...w/95436178.cms
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11-15-2022, 11:37 AM #11232
Sounds almost verbatim to quotes that were made about Elizabeth Holmes.
Sent from my iPhone using TGR Forums
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11-15-2022, 11:43 AM #11233Banned
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Real Estate will beat Bitcoin in the long term. Investment in food growth/supply/delivery and water will beat Bitcoin in the long term.
I think a lot of crypto people need to take a step back, look at the world from global perspective, look at history, look at the current turmoil, and ask the question.... will crypto currency ever evolve in to a mainstream, widely accepted, widely utilized currency mode?
The answer is clear to anyone who has not 'done the research' and been brainwashed by crypto bros. This shit is not real in terms of actual, or even perceived value for 99.9999% of the world. It's akin to beanie babies for the elite. Scammers, criminals and snake oil salesmen have the reigns.
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11-15-2022, 11:58 AM #11234
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11-15-2022, 12:15 PM #11235
10% of VC is trying to find the next winner, the other 90% is about dumping the losers on an unsuspecting public.
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11-15-2022, 12:36 PM #11236features a sintered base
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11-15-2022, 12:49 PM #11237
BlockFi is next
https://twitter.com/deitaone/status/...hXJZxdoJ1kjCAA
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11-15-2022, 02:34 PM #11238I drink it up
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Bitcoin....who's gotten into it?
You seem to know just enough to pass off libertarian bullshit as fact-based arguments.
I don’t really think FDIC insurance makes sense for crypto, but your contention that financial regulation works by privatizing gains and socializing losses is bullshit. You used FDIC as an example of taxpayer funded insurance, and it just… isn’t, independent of eventual full faith and credit backing. Crypto wasn’t operating within a legal framework so much as no framework at all.
The larger point, though, is that we have an opportunity to learn here. And if crypto remains it needs a regulatory framework that establishes capital requirements, audit and exam requirements, and disclosure requirements to shorten the cycle between boom and bust and identifying the fraud early. It probably won’t destabilize any major component of our financial system, but that’s luck, not design. Crypto was 2-4 years from hooking into tradfi balance sheets in meaningful ways. Glad it didn’t. Let’s make sure that if it DOES recover we let it grow safely.focus.
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11-15-2022, 02:43 PM #11239
I am not a libertarian, I'm a realist. Regulatory capture is very much a real thing. It would be incredibly naive bordering on a childlike understanding of the world to argue it doesn't exist.
It would also be naive to argue regulation solves the problem of mismanagement and too-much-leverage in combination with plain old fashioned fraud. Plenty of regulated financial businesses in the past went insolvent for the same reasons.
FTX did what banks have done for hundreds of years. This is just the Gen-z version of the same old thing. Although even better, no government entity had to step in and save the day.
The fact is Coinbase was until recently viewed by many as boring and less innovative than its competitors but the American company founded in the U.S., listed in the U.S., and with appropriately segregated & backed customer funds has so far weathered the crytpo market collapse without drama.
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11-15-2022, 02:58 PM #11240I drink it up
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Yet nobody is arguing either of those things, and here you are accusing others of “strawmanning.”
Regulation serves as a floor to address and identify, precisely, issues of mismanagement, over-leveraging, and old fashioned fraud. Is your argument actually that because these things can happen in spite of regulation, that regulation isn’t meaningful or useful? Do you even know what you’re arguing for?focus.
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11-15-2022, 03:02 PM #11241
Last time my wife was job hunting the two best offers she got was from one of these crypto companies and GFL/waste Industries trash conglomerate. We decided that garbage was a better investment than crypto. Only problem is that GFL is growing so quickly she can't keep up with onboarding all the employees in the acquisitions. She's an HR benefits vendor manager but has hands on with all the moving pieces,
Anyway that's a much better problem to have than the CFO and CEO bailing to Costa Rica or wherever with all the payroll moneyGo that way really REALLY fast. If something gets in your way, TURN!
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11-15-2022, 03:02 PM #11242
Do you? All the things you listed in your previous post are already requirements of companies operating in America. Talk about a strawman. Fraud is already illegal. I’m asking why certain legal things should be made illegal? I'm asking why people like "Mr Wonderful" has the right to demand that the government comes and saves them?
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11-15-2022, 03:06 PM #11243I drink it up
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focus.
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11-15-2022, 03:09 PM #11244
You cherry-picked the argument. I'm not only saying those things already exist, I made essentially the same argument on the previous page. And because those regulations already exist, accounting requirements already exist, how does fraud even happen in your world of perfect and omniscient government regulators?
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11-15-2022, 03:11 PM #11245I drink it up
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11-15-2022, 03:13 PM #11246
A timely industry assessment per the argument calling for transparency on the previous page: "Proof of Reserves and related market-based transparency policies are not a panacea for malfeasance, but they clearly represent net positive low-hanging fruit for the digital assets industry to deploy."
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11-15-2022, 03:37 PM #11247
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11-15-2022, 03:42 PM #11248AF
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I hope they can claw back all the political donations SBF recently made.
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11-15-2022, 04:04 PM #11249I drink it up
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Sounds like we agree. I just think the transparency should be mandatory and somebody needs to be empowered to require it and enforce it. You talk a lot of shit about naďveté…. But it kills me that you imagine that voluntary transparency might be an effective control. It’s absolutely adorable.
focus.
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11-15-2022, 04:47 PM #11250
BTC ski off at bbi this year
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