4 ms·

Every time one of these cryptoscams matures I curse my rotten, stupid, brain. If I was smart, I too would be ripping off all of the cryptobros. Instead I dumb

Every time one of these cryptoscams matures I curse my rotten, stupid, brain. If I was smart, I too would be ripping off all of the cryptobros. Instead I dumb and do honest work.

smaudet 4y ago
A) few people can make money off of a ponsi scheme B) The unregulated crooks are making it so crypto either will be outlawed or regulated (e.g. central exchanges regulated), so you won't be able to scam for very much longer C) it's not just crypto bros, many people made the speculative investment who are relatively uninterested in it, you are mote likely to defraud your standard investor looking to trade stocks with e.g. Robinhood than any major players. So don't feel bad or think you have missed out. If you want to defraud someone go sell NFTs, those are literally nonsense sold to idiots...
mrich 4y ago
People will be going to jail for this. Do not take the short term view.
- quantified 4y ago
  Let's keep out eyes on this. It is a super lurid scenario (to use a word introduced by @dang on this posting). By "this" I don't mean the earlier bits of the FTX debacle, but specifically this draining event. The statement that "FTX apps are malware" is weird in that it implies they became malware a while back. I could see either hackers penetrating due to inadequate security, or insiders setting up for an opportune time. Until the crypto is tumbled, it will be possible to trace its movements. Perhaps it'll just get frozen somewhere to keep it inaccessible by FTX interests. Let's see how long it takes to determine and locate any suspects for this. I have no guess aa to that, but watching with interest. Who says the Binance app won't turn into a threat at some point?
  - mrich 4y ago
    To be clear, even the FTX bankruptcy and the way it happened, not even taking this outflow/hack here into account, is jail worthy. The question is whether it falls under US jurisdiction and whether the defense lawyers can be paid enough to somehow avoid this, or postpone for a decade or so.
    - quantified 4y ago
      Oh yes. Some are asking whether this is Lehman or Enron (forgetting Worldcom) I expect this is a love child that we'll call "FTX".
xisthesqrtof9 4y ago
Create products, real value and make money. At least that’s how I think of it, speculation creates nothing new. Instead it depletes resources that could have otherwise been used on something more meaningful.
55555 4y ago
Be glad your mind doesn't tempt you with this crap. You'll pay for it one way or another, and in the end, money doesn't matter beyond a very low point.

Every time one of these cryptoscams matures I curse my rotten, stupid, brain. If I was smart, I too would be ripping off all of the cryptobros. Instead I dumb and do honest work.

smaudet 4y ago

A) few people can make money off of a ponsi scheme B) The unregulated crooks are making it so crypto either will be outlawed or regulated (e.g. central exchanges regulated), so you won't be able to scam for very much longer C) it's not just crypto bros, many people made the speculative investment who are relatively uninterested in it, you are mote likely to defraud your standard investor looking to trade stocks with e.g. Robinhood than any major players. So don't feel bad or think you have missed out. If you want to defraud someone go sell NFTs, those are literally nonsense sold to idiots...

mrich 4y ago

People will be going to jail for this. Do not take the short term view.

quantified 4y ago
Let's keep out eyes on this. It is a super lurid scenario (to use a word introduced by @dang on this posting). By "this" I don't mean the earlier bits of the FTX debacle, but specifically this draining event. The statement that "FTX apps are malware" is weird in that it implies they became malware a while back. I could see either hackers penetrating due to inadequate security, or insiders setting up for an opportune time. Until the crypto is tumbled, it will be possible to trace its movements. Perhaps it'll just get frozen somewhere to keep it inaccessible by FTX interests. Let's see how long it takes to determine and locate any suspects for this. I have no guess aa to that, but watching with interest. Who says the Binance app won't turn into a threat at some point?
- mrich 4y ago
  To be clear, even the FTX bankruptcy and the way it happened, not even taking this outflow/hack here into account, is jail worthy. The question is whether it falls under US jurisdiction and whether the defense lawyers can be paid enough to somehow avoid this, or postpone for a decade or so.
  - quantified 4y ago
    Oh yes. Some are asking whether this is Lehman or Enron (forgetting Worldcom) I expect this is a love child that we'll call "FTX".

xisthesqrtof9 4y ago

Create products, real value and make money. At least that’s how I think of it, speculation creates nothing new. Instead it depletes resources that could have otherwise been used on something more meaningful.

55555 4y ago

Be glad your mind doesn't tempt you with this crap. You'll pay for it one way or another, and in the end, money doesn't matter beyond a very low point.