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Discussion in 'The Mainboard' started by Nantucket, Jan 29, 2017.
I can't tell you how much I enjoy this post.
Cool. Also cryptowhale is a scam artist and the equivalent of posting Alex Jones level garbage. Do better
I've gotten absolutely slaughtered the last couple weeks, but was wondering how you were holding up.
I know you had a big chunk of your net worth in luna not too long ago.
I’m good, in my circles it was widely understood it would eventually blow up - I shared as much on here. I came out relatively unscathed, lost ~$50k in locked LPs/farms in Terra alts, but those were mostly airdrops.
So I'm seeing Luna is up 27000% to $1.20ish. That's a crazy bounce back in a couple of days
I'm seeing it at $0.00048
I think something weird is going on with it on Coinbase.
I could not fathom still banking at Coinbase given how they have said you will be treated
How’s that? The bankruptcy thing this week was a ridiculously overblown story.
I like holding my money in federally insured institutions, but Im also not of the wanton and reckless persuasion to spend money on scams...so perhaps its sensical that the same type of person who buys crypto is also likely to keep said asset in an unsecured place.
I think most people who’ve been in the space for a decent amount of time understand the risks of keeping their assets on exchanges. Google the phrase “not your keys, not your coins”.
Lol. If you just wanted to show up and take uneducated potshots, just say so. First, they do insure funds with FDIC, so I’ll try to be nice and say you’re uninformed. Cash is insured up to $250k…does that sound familiar? They also carry theft insurance. Second, I don’t keep anything on exchanges. Third, they offer self-custody wallets.
My money would be less secure in a bank…
Reminds me of the time I mentioned hardware wallets and the non crypto bro tried to accuse me of tax fraud. Fucking clueless and only reading the headlines
I popped $200 in it last fall just to dabble in it and forgot about it really, just use the app to keep an eye on the market out of curiosity. I don't know shit about crypto for the most part.
If an AI copywriter was to respond to the last page
Nocoiners showing up to the coiner thread like whyyy
Great pod on on the Terra LUNA/UST blowup.
Is this targeted for the enthusiast or nah? I’d like a good summary but don’t keep up with the jargon, acronyms, etc.
Edit: just saw that it’s Bloomberg so I assume it’s a more mainstream hour
They try to give context/explain the crypto native jargon, use good analogies, I think it’s fairly easy to follow.
Lyn Alden has a recent article on it as well.
i mean tbf that 1 million is still worth $135 so he hasn't lost it all
Uhhhh he sold it same day
But yes LUNA down atrocious and would only have gotten worse if they left UST redemptions live
Less than $1 to $116 to $.0001 all in 14 months. I need a Netflix documentary.
Did he profit?
he profited in knowledge which is more important than money
Long scale pump and dump
Sounds like a permit problem.
But wait til you find out how much energy people use on Christmas lights!! And video games! Talk about things not getting enough attention.
Long thread that shows how easy it is for anyone, in this instance it's Seth Green, to sign a MetaMask transaction without really knowing what they are interacting with. Easy to spoof a website, spin up a smart contract and change the coding around to "steal" someone's crypto.
Something very similar happened last night in the NFT thread. Spoof Twitter account with 100k followers sending a fake link for a free mint and hundreds of other scam accounts with Bored Ape pfps start tagging and spamming the thread. People not doing their research and FOMO'ing in for a quick buck end up giving away access to their wallets. At least do this degen stuff on a dummy wallet and not the one holding all your coins, my fellow coin bros. Or demand better UX and also use a dummy wallet.
For the "crypto is purely for bros to gamble" crowd
Curious to see how this gets digested on TMB
Won't pass the house so I don't think it matters
I love stories that don't even link to the bill or include basically any detail
I'm for it based on that title.
Proposed by tubs in the senate and no cosponsors?
Very dumb and bad
They linked a Fox News article.... you missed a layup
Let me dumb it down even more
Yes that article doesn't even link the bill
That would be awesome - please do this
I think it's dumb to hold crypto inside a retirement account. You're converting capital gains income to ordinary income. I'm not a fan of retirement accounts in general, though. I think it's worth it to pay the tax earlier in exchange for the liquidity.
It’s great when you follow and post Alex Jones equivalent stuff like this. Maybe Google a glassnode article on this exact topic before posting this clickbait garbage. Because pretending to be all-knowledgeable while posting dogshit resources is a bad look. Exchange wallets with millions of users =\ 1 btc holding entity.
Maybe you’ll find some energy articles next. This one about using all the world’s energy by 2020 stands a good chance of landing in your algorithm: https://www.google.com/amp/s/www.newsweek.com/bitcoin-mining-track-consume-worlds-energy-2020-744036?amp=1
The GOP wants to protect the 5 or 6 people who have combined their crypto interests and are actually in a realistic position to retire. But any sort of protection for any citizen beyond those parameters is just asking far too much. They are the chosen 5 or 6!
I listened this morning and my takeaway is Luna/UST was essentially a Ponzi scheme: continuing to recruit new money to top off the solvency pool in order to pay off previous investors until it fell off a cliff. The allure of free money makes people do dumb shit.