That’s fair
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HFSP!
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For the record, I’m not having fun staying poor and I am slightly perturbed that I was not made aware that buying money jpg’s for thousands of dollars still had room for 70x upside as it was happening. Cause I was all like “this seems not worth anything much less thousands of dollars!” and nobody corrected me until quite recently.
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HFSP!
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No 
Totally normal mod behavior
Exemplary mod behavior iyam
This is all true. I think that even in speculative asset bubbles the people who get in early enough and get out in time make lots and lots of money. But speculative asset bubbles are generally a bad thing because people (usually irrational and/or misled people) get murdered. It’s not a great sign that a market is “well functioning” to see prices go from $1,000 to $350,000 and then down to $70,000. That kind of volatility is a yellow-to-red flag that the market is sketchy.
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Margin Call is so good
Watch party?
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Who’s the watch party guy? If not I know it’s some poster that starts with an R. Or maybe an N. But definitely one of those.
I’ve never actually seen it, have I been missing out? Guess I’ll add it to the list
Riskyflush, who bailed out months ago. Currently no one is in charge of watch parties.
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HahI Knew it was an R.
This morning, I emailed Bankman-Fried to confirm he had access to his Twitter account and this conversation had been with him. “Still me, not hacked! We talked last night,” he answered.
His lawyers did not return a request for comment.
bwahahaha
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I miss risky
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Have fun staying unentertained.
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The ones having to go back to work because of this are prolly a bit too bitter to post about it right now.
I don’t think it matters what token/currency you’re talking about - if you promise that you’re going to return the initial token/currency amount PLUS an additional 20-50% (annualized) of that same token/currency, I’m pretty sure you have the kind of unsustainable model that we’ve seen a bunch already. (Not using the P-word!)
Unless you’re saying, “Oh, this is just like lending someone money in a hyperinflationary currency, so I’m promised a yield of 80% per year in Greek Drachmas or whatever, but I already know from forward rates that it converts to a dollar return of like 8%.” But that doesn’t seem like the vibe to me.
A lot of the time the tokens generate yields like that by turning on the token printer. The basic idea is using initially high returns to generate hype, then taper it down once you have a lot of invested hodlers. After that it’s 3. ???, then 4. you’re a successful new L1 blockchain ready to challenge Ethereum.
Most of the time the reality is an inflationary death spiral instead, but some do pull it off.
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