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aw frig aw dang it
Jun 1, 2018


https://twitter.com/web3isgreat/status/1544763598228029440?s=20&t=gayeVeP6ujbFZVZG8BrXhA

Crypto markets are so heavily manipulated you can still get wiped out even if you're right.

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aw frig aw dang it
Jun 1, 2018


It's placing a bet on black and the croupier pulls a lever to stop the ball on red. The exchanges you're using to place these bets - the guys who see and execute all the order flow - are the very ones who are working to wipe you out.

aw frig aw dang it
Jun 1, 2018


Boxturret posted:

its like if you did a casino thing but something different happened

hosed up if true

aw frig aw dang it
Jun 1, 2018


There are burn wallets with no private keys that can be used to effectively destroy coins, yeah

aw frig aw dang it
Jun 1, 2018


EricBauman posted:

aren't the execs also super missing?
like the kind of missing that potentially involves flying to the philippines on a fake passport to get facial reconstructive surgery

I think that's the 3 Arrows Capital execs, not the Celsius ones. There was a rumor about Mashinsky trying to flee the country but I'm not sure that was ever confirmed.

aw frig aw dang it
Jun 1, 2018


three stooges capital :boom:

I'm sorry that's unfair to the Howard boys

aw frig aw dang it
Jun 1, 2018



Why is this ... why is this something to fix?

aw frig aw dang it
Jun 1, 2018


Few understand this.

aw frig aw dang it
Jun 1, 2018


Putting suet out for the birds and having to shoo away some guy with a beard

aw frig aw dang it
Jun 1, 2018


Weatherman posted:

proof of steak

aw frig aw dang it
Jun 1, 2018


Deep Dish Fuckfest posted:

i mean, yes, they should know it's bs, but it's the same people who get scammed over and over again in the most obvious of ways. you're talking about the people who see a 20% per month return on entirely unregulated "financial instruments" and think to themselves "yes i will invest my entire life savings in this entirely legitimate opportunity". i know it's hard to believe, but the past decade of following crypto garbage has, i feel, appropriately calibrated my expectations regarding the incredible stupidity of the people it attracts, and it's not just "a few rubes" that fail to detect completely obvious scams

They believe it in the same way that a compulsive gambler believes if he just doubles down one more time he'll get back.

aw frig aw dang it
Jun 1, 2018


DELETE CASCADE posted:

whenever someone says they did their own research, ask them where they did the research. the library? maybe ok. reddit? lmao

I consulted the ayahuasca python and he assured me I could manifest 20% annually forever

aw frig aw dang it
Jun 1, 2018


bazinga ceo

aw frig aw dang it
Jun 1, 2018


Khorne posted:

I'm not following how this "harvests losses" or commits tax fraud. I'm more familiar with traditional securities where this just sounds like a wash sale and would entitle you to no tax benefit.

Having trouble coming up with a scheme short of "not reporting I got the btc/security back to the IRS" which sounds profoundly stupid. Or, "the company gives it back after X days so it doesn't count as a wash" which sounds inherently dangerous in the crypto space & like some securities version of structuring.

I may be missing that in crypto you can sell & buy and the regulation hasn't caught up so you don't get hit with wash sale limitations? In that case is this actually fraud?

help I'm confused, probably because I don't know anything

Seems like a wash trade to me, yeah. Weird thing to get excited about doing but crypto people are built different

aw frig aw dang it
Jun 1, 2018


DELETE CASCADE posted:

well in the land of normal securities people do tax loss harvesting all the time. sell your voo and buy ivv, feds won't care. presumably this can be done with tokens as well?

That works because voo and ivv aren't considered substantially identical. I mean, maybe they should be considered identical but they aren't for now. Whereas selling bitcoins to buy bitcoins really couldn't be anything besides a wash sale, if they're securities.

aw frig aw dang it
Jun 1, 2018


DELETE CASCADE posted:

i believe the current consensus is that bitcoin is not a security (it's more like a commodity), but any token that is issued for the purpose of raising decentralized financing for some project (no matter how you dance around it) is definitely a security. i'm betting some of those tokens are sufficiently correlated (ie they just track the crypto market as a whole) that you could make it work

Yeah, loads of tokens behave like they might as well be pegged to Bitcoin so you could probably do that. Just gotta hope the one you chose doesn't rugpull in the 30 days you're holding it.

aw frig aw dang it
Jun 1, 2018


kw0134 posted:

it's really clear that at least the american predilection to not be seen preventing "innovation" is loving up the obviously scammy behavior in a new completely transparent cellophane coat.

I've been listening to an audiobook on historical economic bubbles and it's wild how the same stuff happens over and over again. The British Parliament was wringing their hands over not wanting to stifle innovation during the Latin American mining bubble of the 1820s. This was only a hundred years after the South Seas Bubble obliterated millions of pounds of wealth and ground the national economy nearly to a halt. It all just keeps happening.

aw frig aw dang it
Jun 1, 2018



cool glad I'm paying for this bullshit with my taxes awesome

aw frig aw dang it
Jun 1, 2018


I would like it if that dickbag's business was liquidated and the proceeds distributed to his former employees

aw frig aw dang it
Jun 1, 2018


post ur pristine cryptos

aw frig aw dang it
Jun 1, 2018



oh Binance fired up their stablecoin printer again

aw frig aw dang it
Jun 1, 2018


Weatherman posted:

oh hi mark

aw frig aw dang it
Jun 1, 2018


Huh, so that's what ayahuasca does to your brain

aw frig aw dang it
Jun 1, 2018


glaring at my lunch: The peanut butter in this sandwich should be an NFT

aw frig aw dang it
Jun 1, 2018


glad I don't have the thing that makes people want to collect tennis shoes

aw frig aw dang it
Jun 1, 2018


take me down to the crypto city
where the bears are eating all the trash, it's lovely

aw frig aw dang it
Jun 1, 2018


I'm ham-adjacent

aw frig aw dang it
Jun 1, 2018



I swear Sinema has never met a terrible idea she didn't love

aw frig aw dang it
Jun 1, 2018


Might as well face it, you're addicted to parenting

aw frig aw dang it
Jun 1, 2018


can you stuff people in lockers on the blockchain?

aw frig aw dang it
Jun 1, 2018


Shame Boy posted:

when i was a kid my dad, being a dad, told me the song don't fear the reaper was by "red lobster cult", and i went on believing that right up until I was like 20

what if that but just everything all around you all the time

omg I want to listen to Red Lobster Cult

aw frig aw dang it
Jun 1, 2018


Yeah that's the guy! He succeeded and now he can slither under doors

aw frig aw dang it
Jun 1, 2018


Blotto_Otter posted:

ok that's great guys, but maybe let's work on the response time and try to get this out *before* the joint goes bankrupt next time?
https://twitter.com/davidgura/status/1552767520305807366

1. Voyager shall immediately close the barn door

aw frig aw dang it
Jun 1, 2018


Electricity comes from space, duh

aw frig aw dang it
Jun 1, 2018


gschmidl posted:

Greggs rulez ok

aw frig aw dang it
Jun 1, 2018


code 'slaw

aw frig aw dang it
Jun 1, 2018



It's just sad now. Those bits are gone

aw frig aw dang it
Jun 1, 2018



That's a pretty cavalier attitude about something that can straight-up land you in jail

edit: like, a former Speaker of the US House of Representatives (Dennis Hastert) spent 13 months in prison for it

aw frig aw dang it fucked around with this message at 18:24 on Aug 2, 2022

aw frig aw dang it
Jun 1, 2018


well I can't imagine anything nefarious a crypto enthusiast might be up to so it should all be fine

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aw frig aw dang it
Jun 1, 2018


https://twitter.com/web3isgreat/status/1554589477800222721?s=20&t=T3e6_MZioc-pa057vdr8zg

ope!

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