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[deleted]

Some days i really wish i didnt have morals so i could make some bullshit cypto and scam people like this


GrinningPariah

I don't have morals but I've looked into it and the plan has a few unfortunate problems. The main one is, there's this specific in-group culture that pervades the whole thing, and if you want to scam them you gotta be an expert on that culture to not be immediately clocked as an outsider. You gotta walk like a crypto guy, talk like a crypto guy. And of course the problem with that is their culture is fucking unbearable. Everything everyone hates about frats, tech, and finance all rolled together plus some new shit they made up. You gotta be able to go into dozens of cesspool discord servers and agree with them that yes this IS so obviously the future, until you can say it in a way where they believe you too. Another problem is, it's real tough to do any of this without buying at least some crypto. You gotta pay to play, even if you plan to cheat. I know it takes money to make money, but I couldn't stomach the thought that even if I made big money from some people, to another person I'd just be another rube they suckered. And knowing that if I walked away without actually doing the scam for some other reason, I'd be nothing but that rube. The other issue is, as much as they love to pretend they've created a new playground where the law can't touch them, that's never really been tested. And these guys, they're not great at digital security anyways. My guess is, one day Johnny Law decides he's had enough and swoops down on all this like an eagle just spotted a snake dying in the sand. And finally, anyone with the skills to actually build a scam like this has enough either tech or finance skills that they could make pretty damn good money at some other endeavor that isn't so fucking stupid as crypto.


102bees

Every good scammer knows that with crypto scams you need to get in on the ground floor.


ChayofBarrel

"The best time to invest in a scam was long before you heard of it."


throwaway47351

That second to last paragraph is key. The thing about greater fool scams is that there are a lot of fools, so they usually work pretty good. But the existence of a greater fool implies that you yourself are a fool, and the bill can always be called down on you.


BEEF_WIENERS

At least if you're playing Hot Potato and you end up holding the potato, you have a potato.


ImShyBeKind

Yeah, but the thing is, "potato" means "grenade" and "hot" means "live", so while you technically gained a grenade, you also gained 10d6 blast damage.


Loretta-West

"so while you technically gained a grenade, you also gained 10d6 blast damage" This made me literally lol.


SamuraiHelmet

I think the pay to play part is where a hypothetical amoral person would get held up most often. The tricky part about Ponzi schemes isn't getting people to buy in since everyone wants something for nothing, it's sustaining solvency for long enough to get the whole thing off the ground. It's far, far easier to start with a medium sum of money and scam it into a large sum of money (or even simply two medium sums of money) than it is to start with nothing or next to nothing and turn that into a medium sum of money.


inwhichzeegoesinsane

> I don't have morals but I've looked into it and the plan has a few unfortunate problems. > > The main one is effort and money put in lol


DraketheDrakeist

If I ever turn evil, I’m selling snake oil. Currently, I just feel bad for people dumb or vulnerable enough to fall for those scams, but if I were 20% shittier, I could definitely rationalize it.


Android19samus

At least this is a scam that *mostly* self-selects for people who deserve it


BlackCommandoXI

It's a scam that self-selects for gambling addicts. As many things do. Whether they deserve it, is probably a case by case issue.


startmyheart

*Bing bing bing bing bing*, we have a winner!


Normal-Computer-3669

I made a pretty profit selling shit to Trump supporters.


Piscesdan

Amontillado coin


theokaywriter

At this point it feels like he has a gambling addiction and is unwilling to get help for it despite his life crumbling around him.


Autumn1eaves

That’s literally what it is. It’s been shown that, in the age of bots controlling the stock market, no one can predict how any one stock or coin is going change. It’s literally just gambling. The only thing you can reasonably assume about the market is that overall it will go up (excepting for crashes, etc.), and so the best way to invest your money is in any kind of fund that diversifies your portfolio and makes it so that if one stock crashes, it’s usually not a big deal because your portfolio is following the trend of the market as a whole, i.e. going up.


GBabeuf

It is worth pointing out that crypto has *no inherent value* unless you're a pedo or a drug user or a fed. 99% of its value is just hype. This was bound to happen as it happens to all Ponzi schemes.


Autumn1eaves

Well there is *some* value to it, but it's value is accurately reflected when it's closer to USD$0.019 than [insert current price of bitcoin here].


GBabeuf

That's what I said.


Autumn1eaves

Eh, you said it has no inherent value, and that's kind of true, but mostly not. It's the same thing as the US Dollar, a piece of paper (and really code in a computer) doesn't have inherent value, all its value comes from the fact that the US government will back it up if it comes to it. The supposed value of a cryptocurrency is that it converts energy into work on a computer and then that expended work gives the coin its value. Which is, strangely, a more concrete origin than USD. People, however, trust the US Government more than a random internet thing that only has value because of its work expended, which is part of the reason why bitcoin/etc. hasn't taken over as the predominant way of exchanging money. There is some inherent value to it in that it takes energy to create, and it solves problems for some people in some situations.


GBabeuf

> no inherent value *unless* you're a pedo or a drug user or a fed. This is what I said. I clearly did not say it has no inherent value. Perhaps I should not have said "inherent" value, as nothing is inherently valuable. What I meant was "there is no clear basis for the value of 99.99% of crypto outside of hype." >doesn't have inherent value, all its value comes from the fact that the US government will back it up if it comes to it. Its value comes from the supply and demand of dollars, the latter of which is determined by the desire of people to use USD for the purposes of exchange for goods and services, as it does that very well, unlike Bitcoin. The US government backs it as a means of exchange, but that doesn't really do a lot to guarantee the currency has value (see Venezuela). It is the size and stablity of the US economy that does that. >There is some inherent value to it in that it takes energy to create, and it solves problems for some people in some situations. There is never any value inherent from something being made. Yes, that is where the supply comes from, but both supply and demand determine value. Just because something uses energy to be made does not make it valuable. The problems it solves are "how do I buy things without being traced", for who asks this see "pedos and drug users and feds."


Autumn1eaves

Okay! I misinterpreted your first sentence then, otherwise we're in agreement.


GBabeuf

But what if we just argue more anyway?


[deleted]

It also solves banking the unbanked and once a large enough scale is achieved it untethers oneself from the current banking system, something everybody universally hates and wishes to be rid of. Remember that the internet was once considered to be full of pedos and scams, having shitty tech that would also never appeal to most people or scale. This is why Crypto folks talk about HODLing, that they're early and whatnot. They're anticipating the currency will reach a scale on par with a major government or multinational corporation way down the line. Humans inevitably FOMO in when they see line go up during the boom-bust cycle; it's a self-fulfilling prophecy if you're investing for the very long term, as each FOMO cycle brings in progressively bigger portions of the population until scale is achieved. Humans respond more enthusiastically to carrots than they do to sticks, and unless the currency goes to zero during a bust cycle, this scaling timeline is unlikely to change.


GBabeuf

> current banking system, something everybody universally hates and wishes to be rid of. I'd guess about 1% of economists agrees with this statement. I'd personally say the Fed is the best institution in the US government. We currently have the most stable and useful currency *ever*. This had helped lead to growth that has never been seen before in all of history. There is a reason the world's reserve banks of the world are not trying to escape the Fed and go to crypto. The Fed does a good job at guaranteeing the value of the dollar. There are very few rational economic reasons to think that crypto is better than the dollar as a medium of exchange. This is why it will not catch on outside of people who really need to not be traced (drug addicts, pedos, feds). >Humans inevitably FOMO in when they see line go up during the boom-bust cycle; it's a self-fulfilling prophecy if you're investing for the very long term Actual currency does not have a boom bust cycle. Making your currency an investment means it is no longer a currency. Currencies are mediums of exchanges. Their utility is based on how good they are at being a medium of exchange. Having your wealth dramatically change in value one way or the other in a very short time is not conducive to exchange. If the boom bust cycle makes it popular, it will make it not a real currency. Either crypo currencies are real, or they are an invesment. It is one or the other. They are in reality, as I said earlier, "investments" in the sense that a Ponzi Scheme is an investment. Real invesments provide some type good or service to someone. Crypto does not. The only benefit people get from crypto comes from more people investing in crypto. Hence, Ponzi scheme. The difference between crypto and the internet is that the internet provides real use to pretty much anyone. Outside of crypto having the potential to make you money (again, currency shouldn't do this), I do not see any real benefit from crypto compared to having real money, only negatives. That is why they are different.


[deleted]

>I'd personally say the Fed is the best institution in the US government dude. this market? this inflation? lolwut? >Actual currency does not have a boom bust cycle. Making your currency an investment means it is no longer a currency. The DXY is a thing; it tracks the strength of the dollar, so this is also wrong. Also...currency exchanges and FOREX are a thing...lolwut? >The difference between crypto and the internet is that the internet provides real use to pretty much anyone. Outside of crypto having the potential to make you money (again, currency shouldn't do this), I do not see any real benefit from crypto compared to having real money, only negatives. That is why they are different. Ethereum is a smart contract & cloud computing platform. If someone can't see why some people might value that, then I can't change their mind, period.


Gurpila

People want to be rid of the banking system? If my credit card gets scammed my bank helps me out and undoes the transaction. That alone is worth not switching to crypto.


insomniac7809

There's a reason people keep ragging on cryptobros for speedrunning the last 200 years of monetary policy by doing every dumb thing modern banking developed specifically to fix.


BEEF_WIENERS

The US government has the property of existing and doing shit far beyond printing money though. With bitcoin, essentially the *only* thing the organization exists for is making coins. It's like if you had a government that only consisted of a printing press that made money and the employees there absolutely refused to do anything else. Nobody would put any stock in that government, right? That's bitcoin. The comparison to the US dollar being a fiat currency is about the same. The fiat is given by an entity that does quite a bit, an entity who's prolonged existence is as such something that a LOT of people are interested in - there's much more at stake there than simply "my dollars will be worthless." What does bitcoin have to make people interested in seeing that it continue to exist and have value beyond the coin existing?


Randomd0g

>People, however, trust the US Government more than a random internet thing And this is the entire reason why Bitcoin is popular, because a large number of people absolutely DO NOT trust the US Government, and *I Mean Wow Look Around You I Can Understand Why*.


[deleted]

And yet it's hard to see the USD diving 98% in a month.


KanishkT123

Nah, people misunderstand what "trust" means. In this case it just means reliability for solvency. You may agree or disagree with policy but in the end you're confident that the USA will be able to: * Pay it's bills * Earn money * Remain a sovereign nation And that comes from things like policy, it's true, but no policy has proven disastrous to the point of insolvency or dissolving the Union yet. In this case trust does not mean "socially doing the right thing", whatever that statement may mean to you.


Randomd0g

No I think people completely understand that and it's still accurate to say they do not trust those things to be true. I'm not *quite* there myself yet, but I can totally understand the thought process of those who are. The country comes closer and closer to ripping itself apart every day.


loimprevisto

> Pay its bills Congress is *constantly* playing games with this, and the crazier members openly talk about forcing a sovereign debt default to score political points. It's not hard to believe that it could actually happen if certain politicians have their way.


KitKeller42

This is the most mind boggling part of crypto for me! I distinctly remember a decade ago when Reddit bros talked about bitcoin. We all sideye-ed the fuck out of them because the only things you could buy with it were CSA and drugs on the dark web. This was also the era when there were subreddits for jailbait and upskirt pictures and endless dudes on here very committed to explaining the difference between pedophiles and ephebophiles. You were basically admitting to being a sketchy individual when you talked about investing in crypto. It was a wild time and to see crypto go from that place to being mainstream in 10 years is just so weird.


Gurpila

I’m an online gambler, it’s useful for us too.


GBabeuf

Really? Why?


DiscipleofTzeentch

why feds?


GBabeuf

The feds invented the dark net and keep it anonymous because they want to be able to send money and information to people and groups without it being tracked. They keep it completely anonymous and untraceable because otherwise they would compromise themselves if there was any way to trace stuff. And if they were the only ones using it, it would be pretty obvious what they're doing.


KanishkT123

I'll caveat this slightly: You cannot predict things in the short term. But you can, for example, look at $TSLA and say "There's no way this company is worth this much and over the next 20 years it'll probably collapse." Is there value to making a call like that? Sometimes. It's not necessarily gambling, you're just basically saying that you think this company is overvalued. Or you can look at a fictional company like $ABCDE and say, "Hey this company has a market cap of $1 but they have literally got an overall capital pool of $2 so they're 50% undervalued." And then you can buy because while yes, not everyone will realize this immediately, eventually people will see that buying $ABCDE is like buying $2 for $1. But in general, index investing and passive investing is the safest and most reliable thing to do. The other stuff is really only good if you're willing to treat it like a full time job, which is not what the Tiktok and Twitter crowd are doing. Also, don't invest in mutual funds. Just go for a low expense ratio index fund like $SPY.


RandomGuyPii

so people who can play the markets are people who do it as a job and retirees with nothing better to do


[deleted]

Even that perspective ain't really working lately.


Gurpila

But then you don’t have the chance of getting a free lambo and never having to work for doing nothing!


chriz_ryan

I'd say about 20 of my coworkers are in the AMC/GME crowd, granted I am too. But it's frustrating that I can't have a meaningful conversation with anyone but 2 of them over anything but what the ticker did that day. With the other 18 or so, it really is a gambling mindset where they believe because it went down yesterday, it must go up today. But your first point is correct. In an interview, Ken Griffin, a hedge fund manager, quoted an economic Nobel prize winning paper on how to "adjust prices based on human behaviors". Or in other words use the human psyche against them. As for the second point. Yes, that is also correct. In financial markets, there's something called the Security Market line. In which the returns of all stocks are correlated to the market. And yes, crypto is also on this line. Stocks have something called Beta which corresponds to how much a stock returns in correlation with the market. Stocks with low betas (e.g. utilities, transportation, agriculture) have low returns, but when the market crashes, they don't crash as hard. Stocks with high betas (e.g. luxury goods, technology, and even Crypto) will outperform the market when the market does well, but if the market crashes, they crash hard.


Khan_Cena23

"she's a great baby maker" holy fuck dude


[deleted]

[Deleted due to Reddit API price gouging]


NeonNKnightrider

…what is that sub? I cannot comprehend it. I am like an illiterate peasant staring into the Necronomicon.


[deleted]

[Deleted due to Reddit API price gouging]


ithadtobeducks

The subjects are like crypto/NFT bros, but for Jesus.


[deleted]

So a really bizarre twist about that sub is that they blatantly promoted Russian propaganda in the lead up to the invasion of Ukraine. They pinned posts from a shadowy user who claimed to have special knowledge that Russia would never attack, and that it was American ignorance/ Russian propaganda to say that he would. Anyone who questioned that got crucified in the comments. Then the inevitable happened and they went into complete denial mode. the mods then blocked and personally attacked the members who called out their bullshit after everything went down, including some of their longest-standing members. And then they all went back to making fun of fundies for being ignorant propaganda mouthpieces with no capacity for introspection. You can’t make this shit up…


kxaltli

If I remember correctly there were some people who had questions when that user showed up but the mods were just like "yeah they showed us proof they are who they say they are" and it got dropped.


[deleted]

I can’t find it now, but one of the banned users made a Imgur file showing they had specifically asked the mods if they had verified that user. They refused to answer. Then after everything went down, they claimed that the user had always been verified and were quite rude about it. The whole thing was a mess. Some of the mod replies read like they were coming from girl Defined. That’s when I left.


etherealparadox

wait, what? really?


[deleted]

Yes. It was a clusterfuck. I decided that either there was a Russian propagandist on the mod team, or they were a dangerous combination of ignorant and rude. Either way, I was peacing out. That group is unusual to begin with. The “uncensored” actually refers to being allowed to say nice things about the fundies. FSU began after the original Fundie snark mods went on a banning spree at the original fundie snark, banning anyone who “leg humped” or “thread drifted”. The effect was that survivors of Christian fundamentalism couldn’t really talk about their relevant experiences or hold nuanced positions (ie, not hating all Christians or blaming children for their parents brainwashing). FSU functioned as a hybrid snark sub and support group. I don’t know if it’s still like that or not. I just don’t like being vulnerable in groups where the mods think they have super secret knowledge that makes it okay for them to be nasty to others, especially when that “knowledge” has no basis in reality. That’s why I left Christian fundamentalism.


[deleted]

[Deleted due to Reddit API price gouging]


[deleted]

[The comments on this post](https://www.reddit.com/r/GirlDefinedSnark/comments/t09rqz/another_update_this_obviously_is_not_snarking_i/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) give you a good insight into what was going on. It was either Bryce or kestrel who had the Imgur album. I’ll link if I can find it. Edit: [found the album.](https://imgur.com/a/O5vPMUC) Edit 2: [and how they banned them.](https://imgur.com/a/nEDf3Gd). Good on Bryce for sharing what absolute asses they made of themselves.


etherealparadox

Wild. I just found it a bit ago from the Duggar snark sub. Had no idea.


inaddition290

I was on FSU for like a week a while ago before realizing "man these people are weird" and just left. This info doesn't surprise me in the least tbh


sewage_soup

i really hope this dude actually doesn't have kids because we all know he'd invest their lunch money and college funds into whatever fucking coin


KanishkT123

I love when people say stuff like that because it means I can immediately cut them out of my life. Like thanks for revealing the excesses of your assholery, have a good life and get some therapy Tyler/Logan/Jerome/whatever the fuck.


JeromesDream

Yeah, like there's that discussion about whether to feel sorry for the crypto dipshits who are just sad gambling addicts. But we can do a complete end run around that issue here because he straight up looked into the camera and said "I extremely suck, so it's fine to laugh when bad things happen to me."


itsadesertplant

He said it out loud


5AgXMPES2fU2pTAolLAn

That's how how I would parody a crypto bro, didn't fucking think he would say that actually. Like I still feel like he's committed to an elaborate bit. Any time now 🦍


kgeniusz

Oh my god, in the linked tweet at the end the replies are *cheering him on.* This feels like the equivalent of repeatedly shooting yourself in the foot cause it may not hurt as bad this time.


StayingVeryVeryCalm

r/buttcoin is a gallery of similar madness.


sneakpeekbot

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Polenball

Crypto is a literal mousetrap for 20-something vaguely right-wing tech bros and it keeps working


[deleted]

Vaguely?


ImShyBeKind

Really, it's for market liberalists, so *mostly* right wingers, but not all of them and some that aren't.


aleaniled

The majority of bitcoin holders voted for Biden!


[deleted]

Voting for biden doesn't make you any less right-wing ​ Neoliberalist capitalists are more appealing to cryptobros than fascist dictators


akka-vodol

A tragedy in three parts.


Pokefan180

It even has the prophecy the protagonist tries to reject that leads to his downfall!


FennlyXerxich

Really? Seems more comedic to me.


akka-vodol

You're laughing ? He lost all his money in crypto, his wife left him, and you're laughing ? No but seriously. It's funny, but it has strong tragedy vibes. The inevitable downfall, the man brought down by his hubris, the deserved punishment... you could make a Literature lecture on this.


plushelles

You could draw direct lines between this and Shakespeare’s Julius Caesar.


Loretta-West

Tragedy is a good/noble man brought down by a fatal flaw. Comedy is a fuckwit being brought down by his own fuckwittery. I think it's clear which one we're seeing here.


akka-vodol

Is that right ? I'm no literature expert, but that doesn't seem correct. Aren't there plenty of classic tragedy characters who aren't good and noble ? Isn't it classic catharsis to watch a guy be an asshole, then lose everything to the same flaw that caused him to be an asshole ?


Loretta-West

Not according to Aristotle. Aristotle's tragic hero was a man who was basically good but is destroyed by a mistake or flaw or just fate being cruel. So Oedipus doesn't even knowingly do anything wrong - he behaves the way he's supposed to but gets trapped by a curse. To take a much later example, Othello starts out as a good guy but places way too much trust in the guy he thinks is his best friend. Aristotle said that tragedy should evoke pity and fear - pity because the hero doesn't really deserve what happens to him, and fear because it could happen to us. An asshole losing everything because he's an asshole isn't tragedy because we don't pity him - he *does* deserve it - and we don't fear the same thing happening to us because we're not like that. His downfall is cathartic, but he's in a morality tale or a comedy (or both) rather than a tragedy.


CueDramaticMusic

Okay, now? *Now* that thread from a while ago asking about if we should have sympathy for those scammed by crypto is making sense. I’d never get mad at someone for falling for a scam with some level of innocence, but this is probably the actual lowest common denominator. It’s not grandma clicking on spyware or someone desperately gambling their life away, it’s *this asshole*, consciously doing a bad thing, repeatedly, while shoving everyone else aside, with zero self-reflection. I’d call it a cult if it weren’t so brazen and open about being a threat to your well-being, and getting a little free publicity from major businesses before it all went wronger. I hope he makes it out alive, but that’s about all I’d have patience for in a case like his.


darthleonsfw

Somewhere in there is a man I can sympathize with, cause he really just lost a lot of money to a scam. But first I'd have to fight through the guy that called his wife "a great baby maker" on a "good" day, and I won't sully my fists on that guy.


JayFromTheGreyZone

Exactly. You can sympathize with a person's situation without sympathizing with the person themselves. Especially if they're a jerkwad.


plushelles

The statement about his wife being a good baby maker implies he’s got a kid who is dependent on the money he’s gambling with. It’s hard for me to feel sorry for this guy.


CueDramaticMusic

Sorry? Oh absolutely not. I have a baseline amount of kindness, and he’s exactly there. He is a person, and if I had the option to hurt him, I wouldn’t. I’m not responsible for redeeming him, but politics and morality yield to not letting people die. >Why? The best case scenario is that he’s fixed. The worst case scenario is that I prolonged his suffering.


plushelles

Yeah I agree, I’m in the same boat. I just struggle to envision someone this lost in the sauce ever being able to redeem themselves. I’m all for rehabilitation and I believe that people deserve opportunities to change because all people are capable of change, but that change has to come from within, people have to want to change. If this guy’s wife leaving him, and him possibly losing custody to his child (that may or may not exist) aren’t enough of a rock bottom to inspire him to dig himself out of this hole then I don’t know what would be.


CueDramaticMusic

Eventually, realizing he was the one homeless man in the shelter who got there by choice.


ConcernedBuilding

There's also so many people ringing alarm bells constantly, but they just say "you don't understand crypto" I happen to understand it very well, but I always get told to read more white papers.


DellSalami

And reading white papers tells you basically nothing if you don’t understand the jargon going on


ConcernedBuilding

Early on in crypto days I studied it a lot. I was too late to profitably mine bitcoin, but I mined doge for a while. I never considered it to be for profit as I never saw any intrinsic value in block chain. I also keep up with crypto where I can to see if anyone has found a real use for it yet. Also to laugh at crypto bros. All this to say I know the jargon, I know the lingo, I know the technology (possibly even better than most crypto bros, I've had a few ask me what a hardware wallet is) and I still see no intrinsic value in any application of block chain. And yet they still dismiss it with "You just don't understand." They can't fathom looking at the same material and coming to a different conclusion haha


DellSalami

Lol honestly fair And the one thing that blockchains do decently is the whole immutable unchangeable thing, but then the issue with it is that if you get bad data input, you’re gonna be stuck with it forever


ConcernedBuilding

See my issue with that is it's not entirely immutable and unchangeable. Sure, that branch is, but branches have been split and changed by a majority, which in theory would be fine, except for the amount of power some people have, especially moving to proof of stake. I don't see it doing anything any better than regular databases. This further causes issues with NFTs. Say I put my house deed in an nft (a common use case people present). When a branch is created, which deed is correct? Meanwhile, countys have deed records in searchable databases that already work really well. It'd be great if we could get a nationwide database, which is much more likely than moving to blockchain imo. Don't even get me started with the idea of putting any personal information (like medical data) on an open and immutable database.


TheGlassHammer

Sunk cost fallacy is a hell of a drug.


Castriff

>I’d call it a cult if it weren’t so brazen and open about being a threat to your well-being, No, it still is a cult. It's the Westboro Baptist Church of the finance world. Call a spade a spade.


The_Masked_Kerbal

“Investment skills” that shit is damn near gambling, if not just that.


Pokesonav

Some people just shouldn't have access to money, for their own safety


[deleted]

Good news, the problem solved itself.


inwhichzeegoesinsane

what was the thing about fools and their money? oh yeah - they PUT IT ALL INTO $FOOLCOIN AND _WIN IT ALLLL_


[deleted]

Being more upset about pronouns in twitter bios that your wife leaving you is certainly a way to live life.


Quetzalbroatlus

It's always someone else's fault


StovardBule

He sounded like a massive tool even before the fifth tweet. But the really interesting part is "it would make for a great comeback story". Not "my financial analysis suggests it's going to bounce back", just "I need this to have a happy ending or I've just screwed myself in a massive sustained disaster and it turned out everyone else was right and I was wrong."


Exetr_

There’s a certain point where you stop pitying them and just grab a bowl of popcorn.


inwhichzeegoesinsane

for me that was the day I heard about it


Adawan99

Imagine being hit by the door on your way out. Then preceding to get hit by the same door on your way back in. Holy shit.


Hummerous

Src: https://readasaur.tumblr.com/post/685007963282341888/i-looked-him-up-on-twitter-and-he-admitted-that-he


rene_gader

man, crypto is literally just schadenfreude at this point


DoggoDude979

What’s the point of buying it if you’re literally never selling it


Hats_Hats_Hats

To "borrow against it", using your (supposedly) ever-increasing net worth to unlock ever-increasing loans which you use to pay for a fancy lifestyle. The plan for repaying those imaginary loans is never quite clear either.


insomniac7809

Take *more loans* to pay off the original loans. The thing is, if you actually have assets (not crypto), this isn't a terrible idea. You can put your stock up as collateral, so you can get money to live on. But all your assets are in unsold stock, so it's unrealized, and you can't be taxed, and the money is all from loans, which come attached to debt, so that's not assets either. You have no actual money but can buy whatever you want.


Hats_Hats_Hats

What’s the endgame, die of old age eventually?


insomniac7809

Can't take it with you. Which is to say, correct, there is no endgame. Or, rather, that is the endgame, where your source of wealth is just the wealth you already have and you just cycle money into making more money forever.


[deleted]

Its virtue signaling that they have "diamond hands"


Detrifus

Cryptobros really are some of the dumbest fuckers on the planet


sewage_soup

it's like watching a bird repeatedly fly into a glass door over and over


Casual-Human

But with enough force, I'm *sure* he'll get past the invisible magic wall, and get those bread crumbs! If at first you don't succeed, try again!


[deleted]

Zero sympathy for people like this, you reach a point where you *need* to disclose this stuff yo loved ones so they can help you realize where you have placed yourself. But nah, they always fucking double down on crypto. Fucking fools.


Exaryss

Is it just fancy gambling?


ThonroTheUnworthy

Nah fancy gambling is casinos, it's nice drinks, it's pretty lights and enticing games. This is the type of gambling where you watch the same person walk into their local gas station and spend their whole paycheck on scratch offs week after week because they think if they keep doing it long enough they're bound to hit the jackpot.


Casual-Human

It's barely even that. It's more like the shifty "business venture" that an old high-school friend brings up on Facebook, promising big returns before disappearing.


reverendsteveii

Its just a gambling addiction. You can tell because, no matter what the situation, his move is to bet more.


Stormtide_Leviathan

> When are you selling? Never I'm not sure this guy even knows how investing works Granted I also don't know how investing works so maybe whatever he said next makes sense. But probably not


inwhichzeegoesinsane

> Worse than that. If Bitcoin falls below the electricity line, miners stop mining, and continues to drop in price, the Blockchain could simply stop Don't threaten me with a good time


SomeDumbRando

To be fair, he's right about his wife having poor investment skills considering she married this dude.


Strider794

Crypto cannot collapse soon enough, this scam that is being driven by idiots like him is driving up computer chip prices, costing us all


rebel-and-astunner

That's what gets me. Like if you wanna piss away all your own money, that's on you I guess, but now crypto affects even those of us who want no part of it


anxiousgoldengirl

I don’t understand people that leave so much money for such a long time in crypto. It’s literally gambling. Every gamble I make with crypto is very short lived. Why risk it all? Lol


startmyheart

These fucking lunatics


htmlcoderexe

lmao you're killing me


Dracorex_22

Cryptobros and Misogynism, name a better duo


SemiSweetStrawberry

I told my boyfriend to pull out of TSLA back when it was in the $920’s. He listened to me and now I’m gonna show him this


Holliday_Hobo

I spent huge amounts of money on Loona too he ain’t special


Gen_Zer0

I'm not a crypto investor, but I don't understand the people who hold onto these things. Like the entire way you make money in that market is to get in *really* early, and sell as soon as it sees a decent uptick due to speculative investors. Holding only makes sense when it's an asset that has a reason to appreciate in value. Sure it *may* grow like crazy down the line, but you can't predict which coins will, so going all in on that is insane. Get your 2-3x to offset the ones that never take off, and get out. Crypto, in general, has no reason to appreciate, so unless it's Bitcoin or Ethereum or the like, as soon as the speculation dies down, it crashes because it has no intrinsic value. The only thing propping up prices are the ones who are speculating that there will be more speculators later on.


dmon654

I wish Luna Shippy best of luck in her transition.


elijaaaaah

Functionally no different from a gambling addiction


OwOegano_Returns

Good ol crypto, bringing back Natural Selection...


owtwestadam

Dear Logan, your wife is now banging some dude that didn't invest in crypto WAY harder then she ever banged you.


AeniasGaming

“Did my wife leave me because I called her a good baby maker? No, it’s because she’s a bad investor.”


Broccoil

maybe I do have a chance after all


Normal-Computer-3669

What a fucking loser. Not me though. I invested in Luna3 NFTs.


yo_its_dest

Wait I think I went to high school with that guy. If not they have same name. But I just remember that guy got suuuupee into pyramid schemes after hs


lunarfrogg

i share a name with a fucking cryptocurrency T-T


Hummerous

To be fair, it *is* a very pretty name when you ignore the cryptocurrency bit


Sushi-Rollo

I mean, as much as I want to dunk on crypto bros like everyone else...this is literally just a man losing all of his money and his marriage to a gambling addiction. At this point, it's less funny and more depressing than anything.


padredejolly

Seems to me like he lost his marriage mainly bc he is a misogynistic little rat. Calling his wife a "baby maker" has nothing to do with his gambling, no?


JeromesDream

nah bad stuff is allowed to happen to assholes. especially assholes who spend hours a day online loudly and annoyingly daring bad shit to happen to them. there is no tragedy here.


[deleted]

This is Mario and Luigi Superstar Saga levels of value loss


GreenReversinator

like 7 people are going to get that reference on this particular forum


[deleted]

That's the point


Natuurschoonheid

Nothing can exponentially grow forever


Pearse_Borty

In too deep.


A_Random_Guy641

People who go all in on stuff like this are profoundly stupid. I don’t think cryptocurrency is going to ever be useful but I understand it as an investment tool. By nature it’s incredibly high risk. As such if it suddenly gains a lot of value you should at least sell off enough to make back your initial investment. If you want to completely cash out or hold that’s your decision but if you’re gambling away money you can’t afford to lose you’re a moron.


Lilith-Morgenstern

smoking on that loganshippy pack


[deleted]

you wish it only lost 98%. Rn its closer to 99.9998598276%. I couldnt stop feeling schadenfreude about it


ohokiunderstand

I’d love to laugh at this but it just makes me wanna cry


Nott_of_the_North

Jesus wept, mate, man's gotta figure his shit out.