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This was an incredibly bold operation from the begining. They planned to exit one way or another, using the incorporated in the US to gain trust and the plan wa

This was an incredibly bold operation from the begining. They planned to exit one way or another, using the incorporated in the US to gain trust and the plan was not to just disappear, but file for bankruptcy as in "it happens". It is remarkable how they used the depositors or investors money to pay for their lawyers and yet the government considers this a chapter 11 instead of 7, as if there is any way to conduct business going forward. Reputation gone, money gone, the owners gone. Every time something like this happens, on such a scale, makes you wonder, how can so many people fall for this? I am not sure greed is the only factor, there must be more behind it, some shrinks will have a field day. And all the victims are now asking for a government intervention. There is no free lunch, even mashinkis money will come at a large cost. From what I read, many lost over 100k and some lost 7 digits, certainly some shady people amongst these. In conclusion, this was planned from the very beginning. If they could run this profitable, fine, if not, they hiding money followed by chapter 11 was the backup plan.

onlyrealcuzzo 4y ago
> Every time something like this happens, on such a scale, makes you wonder, how can so many people fall for this? Does it? If you're going to work every day to make a dollar, and your friend just sits on his ass and plays video games and makes a dollar every day off his CryptoKitty investments - and you can see the actual money in your friend's account - after a certain period of time, it's hard for anyone to resist, no matter how dumb it sounds. Even Newton lost all his money in the South Sea Bubble... Twice!
Tangurena2 4y ago
> Every time something like this happens, on such a scale, makes you wonder, how can so many people fall for this? The same way that people keep falling for the same sorts of conspiracy theories over the years. Add to that, the fear of missing out, and you can extra marvelous quantities of wealth from suckers. Several industries use FOMO to manipulate people into purchasing things that they probably shouldn't - like cars, MLMs and real estate (sample: "buy now, or forever be priced out of the market!"). After having been screwed (too many times!) previously by FOMO, I have an extremely adverse over-reaction to it: I have to walk away before I get angry.

onlyrealcuzzo 4y ago

> Every time something like this happens, on such a scale, makes you wonder, how can so many people fall for this? Does it? If you're going to work every day to make a dollar, and your friend just sits on his ass and plays video games and makes a dollar every day off his CryptoKitty investments - and you can see the actual money in your friend's account - after a certain period of time, it's hard for anyone to resist, no matter how dumb it sounds. Even Newton lost all his money in the South Sea Bubble... Twice!

Tangurena2 4y ago

> Every time something like this happens, on such a scale, makes you wonder, how can so many people fall for this? The same way that people keep falling for the same sorts of conspiracy theories over the years. Add to that, the fear of missing out, and you can extra marvelous quantities of wealth from suckers. Several industries use FOMO to manipulate people into purchasing things that they probably shouldn't - like cars, MLMs and real estate (sample: "buy now, or forever be priced out of the market!"). After having been screwed (too many times!) previously by FOMO, I have an extremely adverse over-reaction to it: I have to walk away before I get angry.