Bitcoin....who's gotten into it?

[byates1]

What Mr Wonderful said. I mean, he's Mr Wonderful.

[J. Barron DeJong]

https://twitter.com/felixsalmon/stat...uNLpJB9dRaA3LA

[boltonoutlaw]

Dude is polishing his own nuts

What Mr Wonderful said. I mean, he's Mr Wonderful.

[MultiVerse]

"The facts, if not true, were well invented; the arguments, if not logical, were seductive"

[4matic]

Such crap demanding regulation. Don’t waste a taxpayer dime on it. Buyer beware. There are already regulations in place they’re just criminals

[byates1]

Coinbase
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[bennymac]

[J. Barron DeJong]

Such crap demanding regulation. Don’t waste a taxpayer dime on it. Buyer beware. There are already regulations in place they’re just criminals

Sometimes regulation means regulate it out of existence. I’d be good with that.

[MultiVerse]

Instead of regulation, firms like FTX in the future could be made subject to multiple liability.

Even though limited liability is now standard practice, many banks in the past had unlimited liability structures "to overcome information asymmetries between creditors and shareholders. The purpose of imposing double liability on a bank’s shareholders is to align the incentives of managers, directors, and other shareholders with the interests of depositors. In contrast, under a limited liability system, bank shareholders can push some of the losses onto depositors, and there is an incentive for the bank to invest in riskier assets in an attempt to earn a larger profit."


Also, FWIW, New York state enacted consumer protection crypto laws and as a result residents were somewhat protected from the FTX fallout:

[4matic]

The investors like Sequoia and Blackrock shouldn’t need the government to regulate their investments. But apparently they do. Ok, a transaction tax should cover that.

[MultiVerse]

Or, what if as shareholders Sequoia and Blackrock were on the hook to make creditors whole?

[4matic]

Good idea in an investment like that. They knew what it was meaning a banking entity. That’s probably why they didn’t demand board seats.

[dunfree]

Good idea in an investment like that. They knew what it was meaning a banking entity. That’s probably why they didn’t demand board seats.

To demand board seats, there has to be a board, and per reports it was just 3 people. Nobody gave a fuck as long as line went up.

While I’d like TB to be signing autographs at a KMart one day, I suspect most of the “investment” in FTX was just payment for whoring shit

The most frustrating thing about this era is people shitting on ESG for the ES and not caring about the G

[bennymac]

What Mr Wonderful said. I mean, he's Mr Wonderful.

Imagine being Kevin and having to face that you lost millions and this girl was the reason



I don't think you'd feel too wonderful

[bigdude2468]

"The facts, if not true, were well invented; the arguments, if not logical, were seductive"

I think I see a pattern here

[JimmyCarter]

Imagine being Kevin and having to face that you lost millions and this girl was the reason

I don't think you'd feel too wonderful

Imagine being a billionaire and that’s still the best piece of ass you can get

[hatchgreenchile]

He really showed up in dad shoes, cargo shorts and a wrinkly T-shirt to meet a President and prime minister?

[J. Barron DeJong]

https://twitter.com/edzitron/status/...IW9XOFWM6h-2Uw

[dunfree]

Imagine being a billionaire and that’s still the best piece of ass you can get

there surely were escorts and I hoped they changed their coins for cash ASAP

meanwhile, if the GF really has the fraud on video, they fucked

[JimmyCarter]

there surely were escorts and I hoped they changed their coins for cash ASAP

meanwhile, if the GF really has the fraud on video, they fucked

Also a little curious about the dad's involvement. One assumes a Stanford tax law professor must have known things were not quite on the up and up, particularly one who was actively involved with Stanford's corporate governance initiative, but from what I hear he was actively fundraising to the end.

[bennymac]

how do you solve for human nature

[SumJongGuy]

There's also the businesses who were accepting crypto as currency for purchases. I just went to Renoun Ski's website and renoun.com has lapsed. Their facebook page is still active though.

We know Musk was big in crypto.. Is it possible that Zucherberg was too and that's really why Book of Face had big layoffs announced out of the blue (pun intended) this week?

[JimmyCarter]

how do you solve for human nature

Well you can’t so you put in safeguards and regulations and ohhhhhhhhh, right

[Cono Este]

Lawyers will be the only winner s

[byates1]

Decent summary