So your argument basically boils down to, “Stop talking about crapto in the crapto thread. It bothers me.”
Noted. I’m done.
I don’t know how to link archive.ph things, if you go there and put this in
ht*tps://www.sequoiacap.com/article/sam-bankman-fried-spotlight/ (obviously without *)
you get a long, fawning article about SBF from Sept. Some pulled quotes:
https://twitter.com/loadlinefinance/status/1591443558518894592
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There’s some serious ponzi elements at play when you take the hedge fund into account. But sure call it something else.
You are welcome to make your points. No one is stopping you. Coming here and jerking off about how right you are when you have been giving horrific advice on crypto for a decade is very weird behavior though and I have the right to point that out.
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jesus christ
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Show me where I’ve ever given anyone advice.
Manias are fascinating. It’s not every day you get to talk to the participants in real time as one is happening. That’s all I’ve ever been doing.
You getting upset about me talking about FTX in the crapto thread is no different than an Elon fanboy getting upset in the Twitter thread. Except we have no Elon fanboys left.
I’m not really upset at all. Calling crypto a mania is just not accurate in my opinion. We are in year 12 or so. It will still be here in 5-10 years in one way or another. You are just wrong about this.
Asking if I have ever taken a L in an internet forum is pure projection and you know it.
sorry but hearing sbf describe what he/exchanges do as literally a ponzi scheme does not dispel any notions I’ve had about many of these things being some sort of soft or full blown ponzi type scheme.
I know people that lost their ass because they thought these things were legit and a sure thing. whenever you tried to warn them you were told you didn’t “get it.” seems perfectly reasonable to point to this event (and there will be others) as a data point in a “this all doesnt seem quite kosher” take.
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It’s just that the charge of crypto/nfts being Ponzi schemes is pretty specific, it’s a specific type of scheme that 6ix has written extensively about here I believe. FTX was an exchange where customers deposited an asston of money, and they traded crypto on it, for which FTX received an asston of fees. The orgy Bahamas hedge fund that self dealt billions? of customer funds and tanked their own scame coin is not in any way related to the more general criticism of crypto/nfts being ponzis as far as I can see.
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FWIW lots of crypto/NFTs are ponzis. Acting like btc and eth are is just not tethered in reality imo.
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The mania part didn’t really get going until NFTs took off imo. And it seems like it’s winding down.
The shitcoins and ICOs seem more like the early days of the dotcom bubble when it was still mostly enthusiasts. IMO NBA stars and Uber drivers buying NFTs was my uncle asking me if XML was going to be the next Linux, and then losing a big chunk of his net worth in a fund called Munder Net Net.
Without looking into it for a second I strongly assume “effective altruism” is neither effective nor altruism.
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This is a really bad and uneducated take. Two seconds googling shows how baseless this is.
Then don’t get upset when we make fun of them in the crapto thread. Nobody brought up the price of BTC except you.
No offense, but I don’t think suzzer could define ponzi, crypto, or NFT so let’s all just pump the breaks a little.
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Without knowing anything about it I have a very strong opinion. Ok.
I guarantee I’ve read 10x more history on past manias than you have.
Also this:
https://mobile.twitter.com/patdennis/status/1518637225789042688
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HU4BOOKSHELVES? I’ll consider it.
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The weirdest thing is how people on both sides have turned crypto into some kind of sign of virtue, be it for or against. It has no value statement inherent in it.
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