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Gazpacho
Jun 18, 2004

by Fluffdaddy
Slippery Tilde
as we all know, the late 90s tech boom delivered on every promise and everyone who put money in became a millionaire.
new(ish) = profit = good

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Dans Macabre
Apr 24, 2004


Gazpacho posted:

even when they've been beating their chest the whole time about how well they understood it?

Yes even then.

Gazpacho
Jun 18, 2004

by Fluffdaddy
Slippery Tilde

nvrgrls posted:

Yes even then.
:wrong:

Dans Macabre
Apr 24, 2004


kw0134 posted:

then we should shut it down for being a grift with no social utility right? everyone's who's made money does so on the back of someone else who paid to hold that bag. that's the definition of a ponzi, like it's been explained for the last literal decade.

First of all should we shut it down? yeah probably it's dumb as poo poo.

is it the definition of a ponzi, no, because ponzi means you get money from everyone who joined after you and that's not exactly how this works. you still only win if other people lose but not like in a pyramid.

Dans Macabre
Apr 24, 2004


Shame Boy posted:

sure, but i do think it's funny when they ruin their lives because they know how bitcoin works, or when instead of falling for a scam they join it knowing full well it's a scam and think they can catch the falling knife, which is like 90% of bitcoiner stories

I guess that's kinda funny

Dans Macabre
Apr 24, 2004


Zlodo posted:

I don't think it's funny when a bunch of morons gently caress the planet up because they want to believe it will make them rich
So they can all go gently caress themselves for all I care. I have no sympathy

on this we agree

kw0134
Apr 19, 2003

I buy feet pics🍆

nvrgrls posted:

First of all should we shut it down? yeah probably it's dumb as poo poo.

is it the definition of a ponzi, no, because ponzi means you get money from everyone who joined after you and that's not exactly how this works. you still only win if other people lose but not like in a pyramid.
the only way people who can profit is to find another sucker to buy the asset from them at an inflated price. unless time's arrow points in any arbitrary direction in your universe, that can only come from people that "invests" after you.

KnifeWrench
May 25, 2007

Practical and safe.

Bleak Gremlin

nvrgrls posted:

Yes even then.

hey thanks for spamming the thread with your holier-than-thou opining about how people losing money in a negative-sum scam ecosystem deserve sympathy

immediately on the heels of not shutting up about how you managed to make a bunch of money in that same system

genuinely, who do you think hurt them more? the people laughing, or the person profiting from their loss?

Weatherman
Jul 30, 2003

WARBLEKLONK
posting on the hexadecimal page

nvrgrls posted:

Yes even then.

lol you lost your shirt didn't you. no sympathy here lol

AnimeIsTrash
Jun 30, 2018

AnimeIsTrash
Jun 30, 2018

nvrgrls posted:

I just wanna say seriously I don't think it's funny when people ruin their lives because they don't understand how bitcoin works/doesn't work, or when they fall for a scam.

how does it feel being owned OP?

AnimeIsTrash
Jun 30, 2018

owned by a south african dullard

Sagebrush
Feb 26, 2012

Me sowing / me reaping

AnimeIsTrash
Jun 30, 2018

Sowing:

nvrgrls posted:

everyone here is mad about how much money I'm about to make on doge

Reaping:

nvrgrls posted:

I just wanna say seriously I don't think it's funny when people ruin their lives because they don't understand how bitcoin works/doesn't work, or when they fall for a scam.

Zamujasa
Oct 27, 2010



Bread Liar
i think my two favorite crypto stories (so far) is the ponzicoin that the creator shut down because people were literally buying into it despite it being an obvious ponzi scheme and the "penis" exit scam.

AnimeIsTrash posted:

Sowing:


Reaping:

always a treat to see new laffs

Chalks
Sep 30, 2009

i think he sold his doges though

ultrafilter
Aug 23, 2007

It's okay if you have any questions.


Zamujasa posted:

i think my two favorite crypto stories (so far) is the ponzicoin that the creator shut down because people were literally buying into it despite it being an obvious ponzi scheme and the "penis" exit scam.

It's gonna be really, really hard to top that first one.

killhamster
Apr 15, 2004

SCAMMER
Hero Member

Chalks posted:

i think he sold his doges though

buy hi\gh sell low

Shumagorath
Jun 6, 2001

nvrgrls posted:

I just wanna say seriously I don't think it's funny when people ruin their lives because they don't understand how bitcoin works/doesn't work, or when they fall for a scam.
if you don't understand how something works and yet you stick your money / hand / dick into its active machinery then no, lol indeed

Hammerite
Mar 9, 2007

And you don't remember what I said here, either, but it was pompous and stupid.
Jade Ear Joe
Everyone in this thread is about to be super mad at how incredibly smart this thing I;m about to do, is.

Hammerite
Mar 9, 2007

And you don't remember what I said here, either, but it was pompous and stupid.
Jade Ear Joe
ouch

KnifeWrench
May 25, 2007

Practical and safe.

Bleak Gremlin

this is all over the place
- thought the bottom was in
- but still wanted to wait for the dip (?) (after borrowing money(???))
- but then the dip dipped too much

it sounds like this guy was going to piss his money away no matter what happened

what were the precise set of circumstances that needed to play out for this dingus to actually make money with this move?

Nybble
Jun 28, 2008

praise chuck, raise heck

KnifeWrench posted:


what were the precise set of circumstances that needed to play out for this dingus to actually make money with this move?

number go up

Hammerite
Mar 9, 2007

And you don't remember what I said here, either, but it was pompous and stupid.
Jade Ear Joe

KnifeWrench posted:

this is all over the place
- thought the bottom was in
- but still wanted to wait for the dip (?) (after borrowing money(???))
- but then the dip dipped too much

it sounds like this guy was going to piss his money away no matter what happened

what were the precise set of circumstances that needed to play out for this dingus to actually make money with this move?

number go up

number go up make me rich

Paladinus
Jan 11, 2014

heyHEYYYY!!!
It's cargo cult stock trading. You just hope if you say the right trading words, the money will magically multiply.

Sagebrush
Feb 26, 2012

KnifeWrench posted:

what were the precise set of circumstances that needed to play out for this dingus to actually make money with this move?

hodl

KnifeWrench
May 25, 2007

Practical and safe.

Bleak Gremlin

Nybble posted:

number go up

oh, so "wait for the dip" means "wait for the upswing indicating the dip is over"

and here i thought this captain of industry want to kick off the trend rather than lag behind it

thank you for explaining this person's broken brain

Dans Macabre
Apr 24, 2004


AnimeIsTrash posted:

how does it feel being owned OP?

It feels terrible 😢

Boxturret
Oct 3, 2013

Don't ask me about Sonic the Hedgehog diaper fetish

AnimeIsTrash posted:

Sowing:


Reaping:

:hmmyes:

Dans Macabre
Apr 24, 2004


KnifeWrench posted:

hey thanks for spamming the thread with your holier-than-thou opining about how people losing money in a negative-sum scam ecosystem deserve sympathy

immediately on the heels of not shutting up about how you managed to make a bunch of money in that same system

genuinely, who do you think hurt them more? the people laughing, or the person profiting from their loss?

You’re welcome
I made enough money from doge to buy myself a mechanical keyboard but I’m not laughing about it. I’m crying.

Gazpacho
Jun 18, 2004

by Fluffdaddy
Slippery Tilde
ok that guy's collateral was called but wouldn't he still have the money that he borrowed and hadn't invested yet?

Dans Macabre
Apr 24, 2004


kw0134 posted:

the only way people who can profit is to find another sucker to buy the asset from them at an inflated price. unless time's arrow points in any arbitrary direction in your universe, that can only come from people that "invests" after you.

Got it

Dans Macabre
Apr 24, 2004


Shumagorath posted:

if you don't understand how something works and yet you stick your money / hand / dick into its active machinery then no, lol indeed

Nah. This is like laughing at videos of kids falling over.

Actually yeah I guess that is funny 😆

Dans Macabre
Apr 24, 2004


Am I allowed to use emojis in the 219

Ron Paul Atreides
Apr 19, 2012

Uyghurs situation in Xinjiang? Just a police action, do not fret. Not ongoing genocide like in EVIL Canada.

I am definitely not a tankie.

AnimeIsTrash posted:

Sowing:


Reaping:

LOL

Dans Macabre
Apr 24, 2004


AnimeIsTrash posted:

Sowing:


Reaping:

Ron Paul Atreides
Apr 19, 2012

Uyghurs situation in Xinjiang? Just a police action, do not fret. Not ongoing genocide like in EVIL Canada.

I am definitely not a tankie.

Gazpacho posted:

ok that guy's collateral was called but wouldn't he still have the money that he borrowed and hadn't invested yet?

apparently this is something that happens on crypto exchanges because you are using crypto as collateral or something?

feels like a massive scam lol

Dans Macabre
Apr 24, 2004


I did lose 30% on bit coin though

Dans Macabre
Apr 24, 2004


I wanted to attach image but it was too big for the forums

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Dans Macabre
Apr 24, 2004


https://imgur.com/gallery/kafwutb

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