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Hopefully another big player in the global ponzi scheme hitting the wall soon.

andrewinardeer 4y ago
Maybe, maybe not. But your comment comes off as mean spirited. People will lose a lot of their hard earned money if that happens. Sometimes people's empathy doesn't travel past their own personal horizon which seems to be the case with your comment.
- mikelovenotwar 4y ago
  I wish for large international ponzi schemes to cease to be, preventing further influx from people who don't know better. For those already in the ponzi scheme there's little that can be done to convince them they're in a ponzi scheme, or cult. People lose their money on many things, hard earned or otherwise, regardless wishing that avenues which are designed to facilitate such losses cease to exist is not mean spirited.
  - cypress66 4y ago
    Your entire comment hinges on the idea that Binance is a scam, which nobody knows for a fact. And I would hope binance is not a scam, so people don't lose their money.
    - mikelovenotwar 4y ago
      >Your entire comment hinges on the idea that Binance is a scam, which nobody knows for a fact. I make no mention of Binance as a scam. The entire industry is a ponzi scheme, Binanace are a large player in the game.
      - cypress66 4y ago
        Binance is an exchange where you can exchange dollars for cryptocurrencies. It is well understood that the cryptocurrencies you purchase can crash to almost nothing. Nobody's complaining about that. The issue here is the possibility of Binance stealing user's assets, like FTX did. Which is obviously illegal. To explain it in "crypto hater" terms, it's like someone stealing people's beanie babies.
        mikelovenotwar 4y ago
        >Binance is an exchange where you can exchange dollars for cryptocurrencies. I am aware of this, and hope they fail along with the rest of the ponzi scheme. > The issue here is the possibility of Binance stealing user's assets, like FTX did. Which is obviously illegal. This is one of the issues, and while important it's not the only issue.
    - Johanx64 4y ago
      What we do know is that binance hasn't ever done a proper audit, considering that, I can call Binance a scam with a high degree confidence and the only way for me to stop saying it is by them doing a full audit by a reputable company. Which they are not going to do since they are scam.
- hocuspocus 4y ago
  > People will lose a lot of their hard earned money if that happens. Nobody forced them to gamble their hard earned money.
- flumpcakes 4y ago
  So we shouldn't go after Ponzi schemes or fraud, because the victims money is tied up in the crime?
- causi 4y ago
  People will lose a lot of their hard earned money if that happens. As crypto emerges from early adopter status, the "crypto-bro/normal person" ratio of the victims decreases over time, therefore the earlier it crashes the larger a portion of the victims are people who deserve it and should've known better. It should burn down as soon as possible to protect the innocent.

Maybe, maybe not. But your comment comes off as mean spirited. People will lose a lot of their hard earned money if that happens. Sometimes people's empathy doesn't travel past their own personal horizon which seems to be the case with your comment.

mikelovenotwar 4y ago
I wish for large international ponzi schemes to cease to be, preventing further influx from people who don't know better. For those already in the ponzi scheme there's little that can be done to convince them they're in a ponzi scheme, or cult. People lose their money on many things, hard earned or otherwise, regardless wishing that avenues which are designed to facilitate such losses cease to exist is not mean spirited.
- cypress66 4y ago
  Your entire comment hinges on the idea that Binance is a scam, which nobody knows for a fact. And I would hope binance is not a scam, so people don't lose their money.
  - mikelovenotwar 4y ago
    >Your entire comment hinges on the idea that Binance is a scam, which nobody knows for a fact. I make no mention of Binance as a scam. The entire industry is a ponzi scheme, Binanace are a large player in the game.
    - cypress66 4y ago
      Binance is an exchange where you can exchange dollars for cryptocurrencies. It is well understood that the cryptocurrencies you purchase can crash to almost nothing. Nobody's complaining about that. The issue here is the possibility of Binance stealing user's assets, like FTX did. Which is obviously illegal. To explain it in "crypto hater" terms, it's like someone stealing people's beanie babies.
      - mikelovenotwar 4y ago
        >Binance is an exchange where you can exchange dollars for cryptocurrencies. I am aware of this, and hope they fail along with the rest of the ponzi scheme. > The issue here is the possibility of Binance stealing user's assets, like FTX did. Which is obviously illegal. This is one of the issues, and while important it's not the only issue.
  - Johanx64 4y ago
    What we do know is that binance hasn't ever done a proper audit, considering that, I can call Binance a scam with a high degree confidence and the only way for me to stop saying it is by them doing a full audit by a reputable company. Which they are not going to do since they are scam.
hocuspocus 4y ago
> People will lose a lot of their hard earned money if that happens. Nobody forced them to gamble their hard earned money.
flumpcakes 4y ago
So we shouldn't go after Ponzi schemes or fraud, because the victims money is tied up in the crime?
causi 4y ago
People will lose a lot of their hard earned money if that happens. As crypto emerges from early adopter status, the "crypto-bro/normal person" ratio of the victims decreases over time, therefore the earlier it crashes the larger a portion of the victims are people who deserve it and should've known better. It should burn down as soon as possible to protect the innocent.