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Armitag3 posted:How come the moment you're exchanging "money" for chances it isn't regulated like scratch cards or gambling? gambling laws are extremely loosely enforced because we let gambling get loving everywhere and don't want to admit it. like the grocery stores near me have spin the wheel machines in them that give kids prizes but that's ok because the "dollars" that kids put in are fake (but only one given per kid per trip! be sure to bring your kids often!) and thus it isn't gambling despite scratching that exact "random chance to win thing of value" mental itch that gets people addicted.
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Oct 15, 2021 17:58
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apparently an appropriate penalty for inventing billions of dollars in fake money is $41 millionquote:Tether will pay $41 million to settle allegations by the US Commodity Futures Trading Commission (CFTC) that it made untrue or misleading statements when it claimed its stablecoins were fully backed by fiat currencies.
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Oct 15, 2021 18:08
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qirex posted:apparently an appropriate penalty for inventing billions of dollars in fake money is $41 million And admitting they lied and they're full of poo poo and don't have 1 to 1 backing and therefore????
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Oct 15, 2021 18:15
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$41m probably still more cash than tether have
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Oct 15, 2021 18:31
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NoneMoreNegative posted:TINY TUNGSTEN CUBES!?
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Oct 15, 2021 18:31
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Shumagorath posted:I dread the day crypto is understood widely enough to fuel sketch comedy I have some bad news for you. https://www.youtube.com/watch?v=x5RCfQyTDFI
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Oct 15, 2021 18:44
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that’s snl, they said comedy
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Oct 15, 2021 18:45
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Leon Trotsky 2012 posted:NFT peeps are mad at Busta Rhymes.
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Oct 15, 2021 18:52
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Lmao.
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Oct 15, 2021 18:55
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https://twitter.com/peter_atwater/status/1448982329368657938
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Oct 15, 2021 19:03
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NoneMoreNegative posted:TINY TUNGSTEN CUBES!?
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Oct 15, 2021 19:04
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qirex posted:apparently an appropriate penalty for inventing billions of dollars in fake money is $41 million Full article: https://www.theverge.com/2021/10/15/22728253/tether-41-million-misleading-statements-fiat-currency-bitfinex-cftc I'm skeptical of whether this will end up mattering to the cult as long as Bitfinex can stay operating
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Oct 15, 2021 19:09
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Main Paineframe posted:it's very similar. it's kinda fascinating to me how everything bitcoiners build is basically just an extra-complicated take on the same old scams. the funniest part is that this one is a double-layered Ponzi it’s ponzis all the way down
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Oct 15, 2021 19:12
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it's been 100 years, the lessons of the 1920s are no longer relevant
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Oct 15, 2021 19:13
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qirex posted:apparently an appropriate penalty for inventing billions of dollars in fake money is $41 million that’s the cftc’s smaller hammer, not the sec’s government-sized hammer there are a lot of hammers gonna drop on tether
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Oct 15, 2021 19:28
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qirex posted:As to the Tether reserves, there is no finding that tether tokens were not fully backed at all times — simply that the reserves were not all in cash and all in a bank account titled in Tether’s name, at all times It's such a fake attempt to downplay it. "Sometimes, the money was someone else's, and also not money." Like your mate's bag of weed qualifies under that standard.
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Oct 15, 2021 19:40
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look, we're fairly certain there exist enough dollars to cover the issued tether. quibbling over who currently owns them is just splitting hairs
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Oct 15, 2021 19:44
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Luigi Thirty posted:that’s the cftc’s smaller hammer, not the sec’s government-sized hammer my (non-lawyer) read on this is that this only applies to Tether's public lies about 1:1 cash backing up through Feb. 2019, and has not taken into consideration any statements since then, any other crimes that might've happened (such as bank fraud or other fraudulent public statements about their reserves) prior or since, or any questions about the fundamental legality of Tethers (which is more a question for the SEC to handle). So yeah, this is hopefully just the first of many actions, but we'll see. until then we get to enjoy the fact that both new york state and the united states federal government have demonstrated Tether to be frauds and liars, and it just doesn't matter, crypto people will still act like it's fine to trust Tether with tens of billions of dollars worth of stuff infernal machines posted:it's been 100 years, the lessons of the 1920s are no longer relevant
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Oct 15, 2021 20:02
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ah, well, you see, this time it's different. because blockchain, and cryptography. this is all digital
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Oct 15, 2021 20:09
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reminds me I need to pick this back up again
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Oct 15, 2021 20:16
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Chris Knight posted:reminds me I need to pick this back up again Yeah, but this time really is different cause these two hosed up their spreadsheet.
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Oct 15, 2021 20:19
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infernal machines posted:ah, well, you see, this time it's different. because blockchain, and cryptography. this is all digital https://www.youtube.com/watch?v=KuTSAeFhdZU
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Oct 15, 2021 20:24
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https://twitter.com/pinboard/status/1449081721253597188
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Oct 15, 2021 20:38
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Chris Knight posted:reminds me I need to pick this back up again Ooo this looks good
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Oct 15, 2021 21:06
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Paladinus posted:Guess what, Steam has recognised that NFTs have value. Very bullish, imo. lmao if this gave Steam its 30% cut they wouldn't give a flying gently caress, gaben is one of the most embarrassingly capitalist swine humanly possible.
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Oct 15, 2021 21:11
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gaben need more gold so he can shove computers in to his brain
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Oct 15, 2021 21:13
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https://www.youtube.com/watch?v=9SZvSuHqcgM
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Oct 15, 2021 21:14
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https://twitter.com/dril/status/1387993822567665667
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Oct 15, 2021 21:43
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qirex posted:apparently an appropriate penalty for inventing billions of dollars in fake money is $41 million cryptolords: "wtf the statists want them to pay money in fines that they don't have?!"
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Oct 15, 2021 21:46
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gschmidl posted:lmao if this gave Steam its 30% cut they wouldn't give a flying gently caress, gaben is one of the most embarrassingly capitalist swine humanly possible. His vast collection of irl knives surpasses any collection of hats tf2 players buy/sell for college funds(which itself are all eclipsed by any average NFT transaction) 
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Oct 15, 2021 21:58
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that's a loving landscaping light spike
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Oct 15, 2021 22:03
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qirex posted:apparently an appropriate penalty for inventing billions of dollars in fake money is $41 million As mentioned by blotter, thats *one* of the penalties on the first ~$2B or so they had at the time this settlement applies to (NYAG also penalized them something like $15M for conduct during a similar time period). Nothing has been said yet on the ~$66B that have come into existence since then. DOJ and SEC are supposedly investigating them as well.
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Oct 15, 2021 22:25
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EorayMel posted:Bitcoin is a P2P currency that could topple governments, destabilize economies and create uncontrollable global bazaars for contraband. (...) After month of research and discovery, we've learned the following: Lol I probably lurked this thread lolling at the idiots who went in on this Turns out that I missed out I guess
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Oct 15, 2021 22:35
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Chris Knight posted:bloody posh talker since you followed Elon
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Oct 15, 2021 23:20
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Paladinus posted:Guess what, Steam has recognised that NFTs have value. Very bullish, imo. Meanwhile at their competitor: two weeks ago: https://twitter.com/TimSweeneyEpic/status/1442519522875949061 today: https://twitter.com/TimSweeneyEpic/status/1449146317129895938
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Oct 16, 2021 00:34
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is "that thing you load up for a free game once a week and then forget about" really a competitor?
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Oct 16, 2021 00:46
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true i should have put it quotes
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Oct 16, 2021 00:50
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EPIC!
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Oct 16, 2021 01:16
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Alucardd posted:Meanwhile at their competitor:
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Oct 16, 2021 01:38
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Attention, all Epic Gamers! Tim Sweeney needs your help!
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Oct 16, 2021 02:12
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