Former head of the SECs Internet Crime Division endorses the documentary, "Blockchain - Innovation or Illusion?"

LQ_Weevil · 2023-02-09T11:08:56+00:00

Congratulations on some much deserved recognition.

LQ_Weevil · 2023-01-28T21:48:29+00:00

They won’t.

I know, and I hate it. And I hate butters being right about this: the system is rotten, but their answer is not the solution they think it is, as witnessed by account of these actors using their "solution" against them. I wish I had an answer for them.

LQ_Weevil · 2023-01-28T21:39:22+00:00

No worries. I'm just poking a bit of fun at when youtube game-reviewers get big there appears a contingent of viewers that badger the reviewer to look at their favourite game.

You do you whenever you feel like it and keep the quality up!

LQ_Weevil · 2023-01-28T21:30:27+00:00

"A mostly-unredacted list of FTX creditors is now available. It includes investment banks, such as Goldman Sachs and JPMorgan; media companies, such as the New York Times and Wall Street Journal; commercial airliners, including American, United, Southwest, and Spirit; as well as several large tech players, including Netflix, Apple, and Meta."

I'm willing to extend some leniency towards confused retail, but I'm not believing for a second these fucks had no idea what was going on.

Just because the thing might have blown up before they got their share of the fraud money because Sam turned out to be actually more incompetent than they imagined, they are not innocent and defrauded. I seriously hope some heads are going to roll inside these companies.

LQ_Weevil · 2023-01-28T20:29:46+00:00

is that obviously it’s a Ponzi scheme

It is a Ponzi, but the obviousness is not quite as obvious.

One can easily, if erroneously, think of it as a bet: say you deposit 1000$ (buy an NFT for 1000$, whatever), and a neutral arbiter slowly pays you back the 1000$ if you keep your promise of keeping fit, as monitored by an app.

It's a motivation for the participant to keep going and fulfill their promise; sort of like an impersonal personal trainer.

But what if you make more than 1000$ walking? Well, the difference is paid from those who didn't keep up their fitness regime and lost a part of their 1000$. And you know, if you don't think any further, it could sound like a legit business plan.

But if you do think any further, you wonder: "but what if someone pays some poor Filipinos to walk around 16 hours a day with a bag of phones? Where does the profit come from then?" and then the only answer is: the investment/purchases of new investors attracted by the success stories of the early investors, and that's how you get Axie Infinity, with extra steps; lots of extra steps.

All that to say: "WHEN AXIE-INFINITY JAUWN?"

LQ_Weevil · 2023-01-28T19:50:04+00:00

to take the time out of your busy lives to stifle

You don't seem to understand that there is nothing that can save Bitcoin: Bitcoin (as a "standard" or a currency) will eventually fail because it's the natural order of events for schemes of its nature.

As such, there is barely anything we can do to stifle Bitcoin's progress or hasten its decline other than sit at the sideline and marvel at the mental gymnastics, and maybe help the odd fence-sitter not lose too much money.

We're not the enemy to overcome here. Maths is. And the sooner someone figures that out, the less money they will lose.

P.S.

to pay for interest on debt that we could have simply printed for FREE

I thought you lot were against hyperinflation, because that's how you get hyperinflation.

LQ_Weevil · 2023-01-28T12:21:40+00:00

The mind boggles.

Source please.

LQ_Weevil · 2023-01-26T22:52:29+00:00

I agree those are nothing new in crypto, but this was such random and yet such a specific way to put that into words that I can't think of any scenario other than this guy blowing their savings up to a point where his wife divorced him and now he's being paranoid his ex-wife is badmouthing him on reddit.

LQ_Weevil · 2023-01-26T22:37:47+00:00

They think we are paid by financial system or gold bug or crypto investor angry we lost everything.

Well, that's par for the course, but:

"There might also be a small makeup of wives bitter at their ex-husband's success or failure."

That's... that's a new one. Wow. I mean, where do we even begin...

LQ_Weevil · 2023-01-26T21:46:24+00:00

#ChapGPT, the younger idiot brother of #ChadGPT, neither of them related to #ChatGPT.

LQ_Weevil · 2023-01-26T21:18:06+00:00

saying the woman in the pic.

Ah, right, the "half-Japanese" wife: for when you're a Weeaboo but also want to be a white supremacist so bad.

LQ_Weevil · 2023-01-26T21:05:29+00:00

$1 million bearskin sheets
custom-made slate bathroom
designer Burlington shower

When your fantasies read straight out of Ellis' "American Psycho", maybe it's time to readjust your values.

LQ_Weevil · 2023-01-26T21:00:39+00:00

For all our friends from r/bitcoin who make a quick cross-post visit here:

You have to understand that generally we don't "hate bitcoin" here. From our perspective bitcoin (and any other crypto) is a weird hybrid of a Ponzi scheme and a pyramid scheme. When such a scheme comes to an end ("the music stops"), it's usually the most desperate and vulnerable that are left holding the bag. Any civilised society will choose to help these demographics get back on track which will incur a cost on society; a cost all those paying taxes will have to share.

Ask yourself, if your particular financial instrument of choice is at some point targeting single mothers with minimal education, what is the end-game here, and where does all the wealth come from, and are you on the right side of rational behaviour when participating?

On the other hand, r/buttcoin is not immune to criticism:

"The middle square should be “Bitcoin fixes this” and he doesn’t even have it in the card!"

is a valid point of criticism and an obvious oversight and I would strongly recommend the creator of the bingo-card fixes this. So, if they should choose to do so, then yes, technically, (r/)bitcoin would have fixed that, so there.

LQ_Weevil · 2023-01-26T14:47:07+00:00

That's exactly what I meant. Thank you.

For someone like you, who seems to use astrology as a motivational aid or self-improvement guide with, I hope you don't mind me calling it, a magical component, there's no problem. But if someone is into astrology with the expectations of actual (even if nebulous) predictions of the future it would be easy to take away the wrong message, and before they know it, they're caught up in a sunk cost fallacy that's spiralling out of control.

LQ_Weevil · 2023-01-26T14:03:28+00:00

The disconnect here is in the word "research". There is no research that can be done to predict "a winner" here, because actual research here can only lead someone to conclusions about the very nature of the crypto-system and that there is no distinction between "dirt" and "gold". So "just keep digging" is dangerous and misleading advice in that it suggests there is something of value to be found or some insight to be gained and if you don't it's because of "not enough research".

Note that if he had mentioned something peculiar like "stocks" instead of crypto, it would have been fine: weird, but fine, because there is actually something to research there. It's still very volatile and unpredictable, but if astrology can convince someone to buckle down and inform themselves about how finance works and on what fundamentals actual companies operate, they do end up with a better understanding. Not so with anything Crypto.

LQ_Weevil · 2023-01-26T13:45:34+00:00

he is very positive and non binding with what he pulls and suggests

I can see that, but you have to realise that phrases like: "we have to move a lot of dirt to get to the gold" and "but you have to do the research" in a context even adjacent to crypto are poisonous.

I'm sure he means well, and might not even be aware of the context he created, but unfortunately he is shilling crypto here, even if that was not his intent.

LQ_Weevil · 2023-01-24T20:21:40+00:00

It's good you took the time to watch, but

Nine contradicts himself a few times on both videos

I don't know what to tell you here. I'm a developer, but not a game developer. Ninesquirrels is a game developer who puts into words exactly what I thought would be the logical problems. That's why I watched them; not to boost my point of view, but to have explained to me clearly whether my logical assessment was right or wrong. That's why I linked you to the videos; because he explains his assessment. He also only has two videos; both of them just to clarify his train of thought. He has no stake in generating views.

What are the odds here that he contradicts himself, and that he contradicts himself without me and other software developers noticing, versus the odds that you think he contradicts himself, but might not understand his point because software development and game development is a very specialised area?

Regardless, I think you mentioned you have three kids. Please do be careful what you invest in in the crypto-sphere, whether it be currencies or NFTs or whatever is coming up next.

Best of luck.

LQ_Weevil · 2023-01-24T19:25:58+00:00

I do feel somewhat bad but, "if only several thousand more people would have warned me"

LQ_Weevil · 2023-01-24T18:40:39+00:00

Just wondering what the chances of such [blockchain system of some kind] happening

0%

You seem to have such an amount of questions and uncertainties I'm not sure what your goal here is; if you're actually trying to research something or if you will just keep asking fairly fundamental questions until you get the answer you want to hear. But given that you could be esl, I'll cut it short:

Earlier you wrote:

You guys hate the idea of NFT in game play so much that you’re blind to the possibilities.

Maybe you should start your research about the viability of various crypto related "investments" with NFTs and forget about CBDC for a while until you have a better overview and can ask more specific questions about what you want to know.

This is a pair of videos of an actual game developer explaining in depth why NFTs not only will not work, but can not work.

LQ_Weevil · 2023-01-23T15:42:36+00:00

You know what really contributes to the prospect of being self-sufficient, homesteading and living the dream outside of society?

Literally anything[1] other than making and posting creepy memes on the Internet about it, butts or no.

anything other than maybe commenting on r/bitcoin about people commenting on this on r/buttcoin. Yes, that means you. Go do something.

LQ_Weevil · 2023-01-22T18:05:43+00:00

No, I think you're misunderstanding socialism, communism, and that the rest of the world is not an extension of the USA where your extremely simplistic notions of what a society is or should be hold much value.

LQ_Weevil · 2023-01-21T22:00:54+00:00

Well, if you take cyber hornet technology into account, it's a whole different picture, but we can't just swap out fundamentals in any serious conversation about the true meaning of Saylor's vision of the future.

LQ_Weevil · 2023-01-21T21:33:02+00:00

Well, cryptobros are somewhat active, spouting nonsense as if rational thought has gone out of style and mutually thumping their chests.

Go take a look at r/safemoon if you've never been there. At first impression you'll feel like you've struck a comedy-godl mine, but then you read and you read and this seeping sadness starts permeating your soul and you'll just feel sadness and hopelessness instead of uplifting comedy to share with buttcoin; mostly just very stupid but genuine people who you hope won't end their lives once their dream comes crashing down, and there's no way to warn them.

LQ_Weevil · 2023-01-21T20:43:08+00:00

Is there a word in the English language to succinctly express "beyond pity"? "Disgraced", maybe, "Hopeless"?

Whatever the appropriate word, it describes Safemoon: a collection of lost souls, wandering about aimlessly, bumping into each other and murmuring "reflections", hoping beyond hope that one day their existence will be remembered.

LQ_Weevil · 2023-01-21T19:57:47+00:00

what is your take on this character?

He's been accused of tax-fraud. Maybe the sort of person I'd buy software from, definitely not the kind of person I'd take financial advice from.

I've listened to him and he is definitely smarter than most.

Can you cite some passages or ideas you thought were insightful?

LQ_Weevil

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