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  1. #11426
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    Quote Originally Posted by 4matic View Post
    Bullshit. Buyer beware. You were warned by the regulators.
    Dude, the regulators are clowns and many are corrupt. GME, anyone? Our laws are for the rich to protect the rich and profit off of the poors. Accredited investor laws, anyone?

    I am an adult and don't need regulators to tell me how I can and can't spend my own money. FWIW, I never used FTX or FTXUS. The closest I ever got was a couple thousand bucks in SOL, which I did quite well on.

    Sent from my Pixel 6 Pro using Tapatalk

  2. #11427
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    Quote Originally Posted by stalefish3169 View Post
    Dude, the regulators are clowns and many are corrupt. GME, anyone? Our laws are for the rich to protect the rich and profit off of the poors. Accredited investor laws, anyone?

    I am an adult and don't need regulators to tell me how I can and can't spend my own money. FWIW, I never used FTX or FTXUS. The closest I ever got was a couple thousand bucks in SOL, which I did quite well on.

    Sent from my Pixel 6 Pro using Tapatalk
    ‘Cause I wanna be an anarchy

  3. #11428
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    Quote Originally Posted by schuss View Post
    What about the droid attack on the wookies?

    They should both be investigated and prosecuted. Shitty people in investment do not excuse shitty people in crypto.
    Their penalty was being forced to sell their insider trades at the top. These were high ranking fed individuals, not normies.

    No fed officials, or members of Congress should be allowed to trade stocks or similar investments IMO. It's blatant corruption.

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  4. #11429
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    Quote Originally Posted by J. Barron DeJong View Post
    ‘Cause I wanna be an anarchy
    No, I want minimal corruption.

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  5. #11430
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    Quote Originally Posted by stalefish3169 View Post
    No, I want minimal corruption.

    Sent from my Pixel 6 Pro using Tapatalk
    I’m sure getting rid of the regulators will achieve your goal.

  6. #11431
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    What about, what about…

    The flee to cold storage is the equivalent of old fucks burying cans of cash in the backyard. Currency of the future !

  7. #11432
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    Quote Originally Posted by J. Barron DeJong View Post
    I’m sure getting rid of the regulators will achieve your goal.
    Your reading comprehension sucks. I said that the regulators failed to regulate. That is very different from getting rid of regulators.

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  8. #11433
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    Quote Originally Posted by hatchgreenchile View Post
    What about, what about…

    The flee to cold storage is the equivalent of old fucks burying cans of cash in the backyard. Currency of the future !
    I guess you missed the part where I was advocating for a spot BTC ETF. I'm fully aware that self custody is not for everyone...or even most. But I do think self custody should be an option.

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  9. #11434
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    Quote Originally Posted by stalefish3169 View Post
    Their penalty was being forced to sell their insider trades at the top. These were high ranking fed individuals, not normies.

    No fed officials, or members of Congress should be allowed to trade stocks or similar investments IMO. It's blatant corruption.

    Sent from my Pixel 6 Pro using Tapatalk
    So you’re in favor of the corrupt clowns regulating. Got it.

  10. #11435
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    Quote Originally Posted by J. Barron DeJong View Post
    So you’re in favor of the corrupt clowns regulating. Got it.
    Yes, but also

    I am an adult and don't need regulators to tell me how I can and can't spend my own money.

  11. #11436
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    Quote Originally Posted by J. Barron DeJong View Post
    So you’re in favor of the corrupt clowns regulating. Got it.
    No, I'm in favor of common sense regulations for the regulators. You want to be on the fed and one of the most powerful monetary policy makers on the planet? Great! Now you don't get to trade stonks for a while. While we're at it, let's restrict trading for Congress and mute the influence of corporate lobbying.

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  12. #11437
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    Quote Originally Posted by stalefish3169 View Post
    No, I'm in favor of common sense regulations for the regulators. You want to be on the fed and one of the most powerful monetary policy makers on the planet? Great! Now you don't get to trade stonks for a while. While we're at it, let's restrict trading for Congress and mute the influence of corporate lobbying.

    Sent from my Pixel 6 Pro using Tapatalk
    If everyone humping BTC/crypto would focus on those issues instead we’d be in a much better place, but it sure seems like the crypto bros are advocating for it to be an alternative to actually trying to solve the real issues you bring up.

  13. #11438
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    Quote Originally Posted by frorider View Post
    Yes, but also
    There are multiple types of regulations. The type I was suggesting for FTX would be related to maintaining customer deposits instead of gambling with them at max leverage. Blocking a spot BTC ETF is nonsense.

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  14. #11439
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    Quote Originally Posted by J. Barron DeJong View Post
    If everyone humping BTC/crypto would focus on those issues instead we’d be in a much better place, but it sure seems like the crypto bros are advocating for it to be an alternative to actually trying to solve the real issues you bring up.
    We probably should've banned the internet in 1997 because some people used it to commit crimes. Bank robbers have used cars at times, so we should probably ban those too.

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  15. #11440
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    i agree, why improve things when you can burn em to the ground and build your own fence

  16. #11441
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    Fraud is already against the law. FTX committed fraud and FTX's fraud is already under investigation. Fortunately the crypto meltdown didn't spark a wider crises because crypto is not part of banking system.


    From the WSJ a few days ago: How Crypto’s Collapse May Have Done the Economy a Favor

    Crypto’s lack of connections with traditional finance means its problems haven’t spilled over to the economy. This year’s crypto collapse has all the hallmarks of a classic banking crisis: runs, fire sales, contagion.

    What it doesn’t have are banks.

    Check out the bankruptcy filings of crypto platforms Voyager Digital Holdings Inc., Celsius Network LLC and FTX Trading Ltd. and hedge fund Three Arrows Capital, and you won’t find any banks listed among their largest creditors.

    While bankruptcy filings aren’t entirely clear, they describe many of the largest creditors as customers or other crypto-related companies. Crypto companies, in other words, operate in a closed loop, deeply interconnected within that loop but with few apparent connections of significance to traditional finance. This explains how an asset class once worth roughly $3 trillion could lose 72% of its value, and prominent intermediaries could go bust, with no discernible spillovers to the financial system.

    ...

    To historians, this litany of contagion and collapse is reminiscent of the free banking era from 1837 to 1863 when banks issued their own bank notes, fraud proliferated, and runs, suspensions of withdrawals, and panics occurred regularly. Yet while those crises routinely walloped business activity, crypto’s has largely passed the economy by.

    ...

    Now, stained by bankruptcy and scandal, cryptocurrency will have to wait longer—perhaps forever—to be fully embraced by traditional banking. An end to banking crises required the replacement of private currencies with a single national dollar, the creation of the Federal Reserve as lender of last resort, deposit insurance and comprehensive regulation.

    It isn’t clear, though, that the same recipe should be applied to crypto: Effective regulation would eliminate much of the efficiency and anonymity that explain its appeal. And while the U.S. economy clearly needed a stable banking system and currency, it will do just fine without crypto.

  17. #11442
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    Quote Originally Posted by stalefish3169 View Post
    keep hypocritically incessantly bitching about crypto while also investing in it.
    You can't invest in crypto and also criticize it - that would make you a hypocrite. You have to be all in. Devout.

    stalefish - you constantly shit on corruption in stock trading and by banks. Do you have any investments in equities? Do you use banks?

    Either you don't - which would mean you're a financial idiot.

    Or you do - and you are, by your incredibly stupid binary "you're either with us or against us" definition, a hypocrite.

  18. #11443
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    Quote Originally Posted by bennymac View Post
    You can't invest in crypto and also criticize it - that would make you a hypocrite. You have to be all in. Devout.

    stalefish - you constantly shit on corruption in stock trading and by banks. Do you have any investments in equities? Do you use banks?

    Either you don't - which would mean you're a financial idiot.

    Or you do - and you are, by your incredibly stupid binary "you're either with us or against us" definition, a hypocrite.
    Apples and oranges man. One is the status quo that can't realistically be avoided. The other is entirely new.

    FWIW, corruption in crypto is bad too. That's why I think SBF and others should do plenty of time in prison. And also why BTC has so much potential...it's much less prone to corruption.

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  19. #11444
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    Quote Originally Posted by stalefish3169 View Post
    Dude, the regulators are clowns and many are corrupt. GME, anyone? Our laws are for the rich to protect the rich and profit off of the poors. Accredited investor laws, anyone?

    I am an adult and don't need regulators to tell me how I can and can't spend my own money. FWIW, I never used FTX or FTXUS. The closest I ever got was a couple thousand bucks in SOL, which I did quite well on.

    Sent from my Pixel 6 Pro using Tapatalk
    I hate to admit it, regulators are unqualified, arrogant, and generally a day late and a dollar short, and they usually end up working for the crooks after a short stint in prosecution. but there are a lot of people who need protection. Or at least the threat of jail. And I’m not talking about stupid people, I’m talking about seniors, or just people that are easily duped. No one deserves to get ripped off.

    The world would be a lot better if instead of civil penalties, it was hard jail for the white collar crooks. Sbf. That flabby ass pussy, should be breaking rocks for 50 50 yrs, in the sun.

  20. #11445
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    Quote Originally Posted by Cono Este View Post
    I hate to admit it, regulators are unqualified, arrogant, and generally a day late and a dollar short, and they usually end up working for the crooks after a short stint in prosecution. but there are a lot of people who need protection. Or at least the threat of jail. And I’m not talking about stupid people, I’m talking about seniors, or just people that are easily duped. No one deserves to get ripped off.

    The world would be a lot better if instead of civil penalties, it was hard jail for the white collar crooks. Sbf. That flabby ass pussy, should be breaking rocks for 50 50 yrs, in the sun.
    I agree with this.

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  21. #11446
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    Quote Originally Posted by stalefish3169 View Post
    Their penalty was being forced to sell their insider trades at the top. These were high ranking fed individuals, not normies.

    No fed officials, or members of Congress should be allowed to trade stocks or similar investments IMO. It's blatant corruption.

    Sent from my Pixel 6 Pro using Tapatalk
    I sincerely doubt anyone here would disagree with that sentiment - regardless of their thoughts on crypto. My point was that anytime people point to blatant fraud or dishonest actions in crypto, there's a ton of whataboutism with other investment stuff, when in fact both need to be cleaned up. The kicker is that while regular investment fraud/shady actions are nakedly greedy, they don't necessarily torch the environment in the process like BTC and other crypto gas fees.

  22. #11447
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    Feds “should have” clamped down on it early and often but they let it ride in deference to free market capitalism. Maybe something good comes out of it but doubtful.

  23. #11448
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    Congressmembers Tried to Stop the SEC’s Inquiry Into FTX: The ‘Blockchain Eight’ wrote a bipartisan letter in March attempting to chill the SEC’s information requests to crypto firms. FTX was one of those firms.

    Given that FTX was under investigation by the SEC in March, when Davidson and Emmer actively worked in public to shut that investigation down, claiming that it was illegal for the SEC to investigate crypto firms in that manner, their subsequent claims that the SEC wasn’t doing its job are certainly interesting. The SEC was told not to investigate, and is now being told that it investigated selectively.

  24. #11449
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    A shill, goes after a shill. So funny.
    Is it radix panax notoginseng? - splat

  25. #11450
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    Quote Originally Posted by 4matic View Post
    Feds “should have” clamped down on it early and often but they let it ride in deference to free market capitalism. Maybe something good comes out of it but doubtful.

    How do they clamp down on something they do not understand? That’s why they suck. No one leaves a top tier hedge fund to go work for the stupid govt.

    It took an options trader, , to figure out Madoff and he access to nothing.

    Another thing. The way they are spinning this dumb broads comments about “simple math”, etc, is really funny. Most arbs are simple math and technical analysis is something you’re fired for at a real firm trading a genuine Arb. Why set up offices all over the world when you can just hit a buy or sell button like any idiot?

    This is how it always ends. You get a meaty Arb like that, Make millions, then the pros come in and crush it to nothing. Bit you’re head is now so big you won’t go home and call it a day, so you start taking risk, taking deltas, and give it all back.

    Not to make excuses for the little tart, but I just can’t stand even dumber people make stupid comments.

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