You didnāt conspire in any nefarious plot, you just aided and abetted in Operation Save Face. We went over this remember, youāre too much of a doofus to actually do the Oceans11 stuff? It was more just bumbling around with dork rage.
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lol Jman āoh so youāre STILL accusing me of being handsome and smart and cool AND having a big penis LOL HAHAā like nah dog
Iām just gonna assume an earlier paragraph adds context because thereās no way Levine fucked that up too.
based on that style of shitposting being extinct for awhile, iām left to conclude that this mf is serious lol, like, in his mind those are clever PWNs
holy shit
nah thereās no way
like, fucking up simple memes IS the troll right?
Shout out to Chapo for the reminder that Gillibrand was on the take from SBF 
Can someone explain to me how FTX is a ponzi? A ponzi is something that by definiton requires more and more $$$/users to be invested into it to survive. FTX would not have if they were not doing criminal/fraudulent/stupid things would never have. Was FTP a ponzi? They basically did the same thing.
Like if they just functioned as an exchange, segregated customer funds and only gambled their own money none of this happens. The fact they did none of those things makes them a criminal enterprise, not a ponzi.
Iām not sure whether being fraud artists or ponzi artists is worse. They are both very very bad.
If they were promising false returns predicated on bullshit (hey look at these fake shitcoins we invented based on air, your money is growing by 10 percent every year no matter what the market does!) when in fact the owners were stealing the money and enriching themselves / gambooling it up, it sure seems pretty ponzi-like to me.
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Their staking returns werenāt much different from coinbase or gemini. Neither of which are ponzis. Iām not really sure what you mean by false returns. If there is no fraud on the back end presumably they could have paid 5-8% staking returns just putting the money in inflation indexed stuff right now.
Taking the money people staked and gambling it away is not a ponzi. Itās likely illegal and definitely fraudulent though.
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Also i think staking returns when it comes to exchanges are misunderstood. If I take 100 eth and stake it on gemini and they pay me 5% while lending it out at 20% that could work as long as the default rate is low enough. In theory it is not any different than what your local bank does. Of course crypto is a lot riskier than what the banks are investing in so there are massive potential problems there.
When you stake coins on gemini for example there are big warnings telling you that you are making an unsecured loan to gemini/genesis. It was widely discussed in the discord how this isnāt remotely the same as risk free and probably not worth the potential risk which is why basically none of us got caught up in the ftx thing.
In order to tarnish crypto as a whole, the definition of ponzi has been stretched to levels so vague and general that itās now difficult to come up with a business or system that isnāt a ponzi
Oh, you have a boat and crew and charge people to vacation on it? Ponzi. If everyone stopped paying money to join the boat vacation fomo hype, the business would immediately go bankrupt. When boatbros wake up and stop buying into the concept of a boat vacation, the music stops and the mania ponzi is over. If youāve ever read motley fool discussion boards around 1999 youād understand what Iām talking about
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Must admit the Ponzi use in this thread reminds me of this
Ponzi is just a cool word
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This is precisely what makes it not a ponzi jfc. It is serious fraud and embezzlement and likely worse than a ponzi though!
Bruh are you like trying to win a bet with the amount of dumb shit you post or what?
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Iām not sure gambling away accounts is even illegal. Youād have to show FTX promised not to do risky things with the retail money. Sure they breached their contracts when they failed to pay, but people get left holding the bag in bankruptcies all the time. Normally this is handled by regulation, but crypto.
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I tell investors that they will receive a healthy return for giving their money to me to trade with using my brain genius strategies. I donāt trade with the money however, I find new investors, and I pay the first investors with the second investorsā money and so on. This could theoretically go on forever.
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I tell investors that they will receive a healthy return for giving their money to me to trade with using my brain genius strategies. I donāt trade with the money however, I steal it, but say I lost all the money trading and donāt pay anybody anything. This usually just works the one time.
Jman:
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at this rate weāre never gonna get to āpyramid schemeā
and keanu reeves walks among us
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