|
lol, bitfinex's lawyers are amazing quote:Tether’s business model depends on it making investments and asset purchases with the proceeds it derives from selling tethers. If it simply held the proceeds in cash, the company would not earn the money required to fund its operations. quote:While Tether is a profitable company that generally does not spend more than it earns, there is not a separate account earmarked “non-reserve” from which ordinary course expenses are paid. Money is fungible. Accordingly, determining whether payments are from reserves or not is fraught with ambiguity and would be a recipe for future conflict with OAG. More fundamentally, while Tether does not anticipate that it will suddenly become unprofitable, OAG’s language would potentially require the company to cut off salary and other ordinary course payments in any given period if, for whatever reason, there was insufficient profit (again, with all the ambiguity that entails). It is simply not the OAG’s purview to micromanage Tether’s business in this way.
|
#
?
May 15, 2019 01:38
|
|
|
|
| # ? Jun 1, 2024 14:46 |
|
|
...! posted:lol, bitfinex's lawyers are amazing if only they used triple entry accounting 
|
|
#
?
May 15, 2019 01:40
|
|
|
...! posted:lol, bitfinex's lawyers are amazing lol omg "well duh, of course our investments and operating expenses are irrevocably commingled with the cash reserves that are backing tethers. we wouldn't have a business model otherwise!"
|
|
#
?
May 15, 2019 01:48
|
|
|
The ol' "sure my client did it, but it wasn't illegal" defense for something that was clearly illegal.
|
|
#
?
May 15, 2019 02:08
|
|
|
Boxturret posted:what's their so called third entry again? love ...! posted:lol, bitfinex's lawyers are amazing "money is fungible" sounds like the FinReg equivalent of freeman on the land
|
|
#
?
May 15, 2019 02:37
|
|
|
"Money is fun, guy!" has a 100% court case winrate I'm not sure why business don't use that argument more 
|
|
#
?
May 15, 2019 02:47
|
|
|
i'm the $1,000 payment from theymos to the forum maintainer for fixing issues such as "after the last update when editing a post you cannot view the entire text of the post"
|
|
#
?
May 15, 2019 03:02
|
|
|
i just love the whole "if you make us do these things, then any time we decide that we're making 'insufficient profit', we just won't pay our employees or any of our bills. what do you think about that, smart guys?  " argument
|
|
#
?
May 15, 2019 03:13
|
|
|
Waddya mean we're not allowed to dip into client funds to make up the difference if our revenue doesn't cover our operating costs?
|
|
#
?
May 15, 2019 03:45
|
|
|
Jabor posted:Waddya mean we're not allowed to dip into client funds to make up the difference if our revenue doesn't cover our operating costs? waddya mean we need a way to make revenue besides gambling with client funds and then paying them back when we win?
|
|
#
?
May 15, 2019 04:09
|
|
|
Jabor posted:Waddya mean we're not allowed to dip into client funds to make up the difference if our revenue doesn't cover our operating costs? that's where the third entry comes in when the debits and credits don't match, that's the bitcoin
|
|
#
?
May 15, 2019 04:16
|
|
|
...! posted:More fundamentally, while Tether does not anticipate that it will suddenly become unprofitable, OAG’s language would potentially require the company to cut off salary and other ordinary course payments in any given period if, for whatever reason, there was insufficient profit (again, with all the ambiguity that entails).
|
|
#
?
May 15, 2019 04:54
|
|
|
someone gave us a lot of very fungible money. and i tell ya, we funged that money. funged it reeeaaal good. so what's the problem??
|
|
#
?
May 15, 2019 05:49
|
|
|
Learn, Grow, and Appreciate. (self.Bitcoin) submitted 4 hours ago by throwthisawaynow0redditor for 4 weeks I was a barista at starbucks before I was introduced to cryptocurrency on July of 2017. I was talking to another worker as I was making some ones drink. A regular customer that I talk too when he comes in, heard me tell the worker I wanted to switch programs for university (I was studying Computer Science and graduated). The customer told me "sorry for being nosy, but I heard you are switching from Computer Science. May I ask why? That stuff is interesting." I told him that it drives me nuts already in school, so I can't see myself doing this stuff as a day to day job in the future. He took his drink and sat down. I took my break and I saw him reading a book on blockchains. He asked if I know anything about distributed ledgers? Lol I said All I know was Bitcoin had something to do with it. Then I asked, do you think I should buy some? He laughed and said well you're asking a customer having a coffee on investment advice. He told me to read up on blockchains, Bitcoin and the different ways of storing them; and the next time I come Ill ask you some questions and I'll tell you. The smirk on his face made me feel that he wanted to tell to buy for some reason. I ended up buying bitcoin a few days later, then I noticed there was thousands of cryptocurrencies. I am new, so I didn't know. I thought it was just bitcoin lol. Since I already bought some bitcoin, I started reading up on the rest. Next time he came in, he asked me if I did some reading and I said yes. So he asked me a few questions, pretty basic questions. Got the answers right and then told me he will be sitting here to drink his coffee. So we chatted for a bit but I was really wanting to buy other cryptocurrencies when I realized there was more than bitcoin out there. He was insisting I stay in Bitcoin because I was new to this stuff and to make sure I know the difference with Bitcoin and others that had the word Bitcoin. I remember him describing it as a "digital referendum". I picked up on a few names of other cryptocurrencies he mentioned (not going to talk about them because this is a Bitcoin subreddit). November 2017 comes around and I am in shock. I never had that type of wealth before. The next time he came in, he came in laughing. I kept telling him how I am having a hard time believing what I am seeing. Obviously I asked him the holy question, when should I sell? His answer was, this is all because of a hype around a tradition exchange called CME, that wanted to integrate Bitcoin Futures, maybe when those futures go live? Who knows? And literally leaves. So I did exactly that. I realized I never thanked him. I really appreciated someone talking to me like that. I was a foster child, I never had such a conversation that helped my life in a positive way. The next time I saw him, I thanked him so much that I was embarrassed. I asked how can I return this to show appreciation? Can I give you some money? He giggled and asked how old I was. I said 23. Then he asked if I was going to quit. I said yeah soon! He said don't. He told the only way I can return this favour is if I sponsored a child from an organization that sent pictures of the things they bought the poor child with your money. Analyze the picture, and look at how much they appreciate it and what you did for that child. The freaky part is, he does not know that I was a foster child. I said I will but can I pay you. He said he didn't need my money. He told me, remember our talk about education? I said yes. He said, maybe learn about programming blockchains or use the technical skills to do research on Bitcoin. "Education is not a paper, its a resource that you can use however you want."
|
|
#
?
May 15, 2019 06:16
|
|
|
lol, that pomp guy debated kevin o'leary about bitcoin on cnbc this morning. apparently kevin must have destroyed him because the bitcoin faithful are enraged. tons of angry tweets and reddit posts. among other things they're lumping him in with buffett in the "old guys who know nothing about investing and will soon be begging us for table scraps when their fake fiat becomes worthless aaaaaaaany day now" category
|
|
#
?
May 15, 2019 06:33
|
|
|
Dixie Cretin Seaman posted:love *sprinting into thread* i triple-entry-bookkept urmom last night if you know what i mean :giggity:
|
|
#
?
May 15, 2019 06:40
|
|
|
Weatherman posted:*sprinting into thread* i triple-entry-bookkept urmom last night if you know what i mean :giggity: :birdhunk:
|
|
#
?
May 15, 2019 06:47
|
|
|
Boxturret posted:what's their so called third entry again?
|
|
#
?
May 15, 2019 07:35
|
|
|
Weatherman posted:*sprinting into thread* i triple-entry-bookkept urmom last night if you know what i mean :giggity: yeah she said she’d never seen someone mine a block so fast with so little hardware before
|
|
#
?
May 15, 2019 09:31
|
|
|
...! posted:lol, that pomp guy debated kevin o'leary about bitcoin on cnbc this morning. apparently kevin must have destroyed him because the bitcoin faithful are enraged. tons of angry tweets and reddit posts. among other things they're lumping him in with buffett in the "old guys who know nothing about investing and will soon be begging us for table scraps when their fake fiat becomes worthless aaaaaaaany day now" category this sounds good can someone do the needful and post a you-tube dot com video
|
|
#
?
May 15, 2019 10:13
|
|
|
Hammerite posted:this sounds good can someone do the needful and post a you-tube dot com video https://www.cnbc.com/2019/05/14/mr-wonderful-kevin-oleary-calls-bitcoin-garbage.html this isn't it but it does have a great "bitcoin ALERT" cgi graphic also FYI, bitcoin is a digital quote:“People should understand today the hot digital is bitcoin,” O’Leary added. “Tomorrow it could be whatever.”
|
|
#
?
May 15, 2019 10:18
|
|
|
Hammerite posted:this sounds good can someone do the needful and post a you-tube dot com video found this "Try and do a transaction of $100,000 in Bitcoin. I tried to do some real estate in Switzerland with it once. It is a useless currency. It is a useless currency." https://www.cnbc.com/2019/05/14/mr-wonderful-kevin-oleary-calls-bitcoin-garbage.html chain reorg: https://www.cnbc.com/video/2019/05/14/watch-shark-tanks-kevin-oleary-challenge-the-bull-case-for-bitcoin.html <-- the debate, just watching now further chain reorg: Pomp talks disconnected fragments of bitcoin maximalist evangelism in a confident-sounding voice, O'Leary describes real things and events like a sensible person. No wonder the coiners are pissed off, their best talking points don't actually work outside the echo chamber. divabot fucked around with this message at 10:33 on May 15, 2019 |
|
#
?
May 15, 2019 10:21
|
|
|
actual sales pitch posted:We're going to make a coin where it truly pays to HODL. You should NOT participate in this project if you are just looking for another pump and dump ponzi scheme, this is not one of those.
|
|
#
?
May 15, 2019 12:37
|
|
|
like literally the explicit purpose of an exchange is to facilitate not hodling, and the functional purpose is to enable pump and dump ponzi schemes.
|
|
#
?
May 15, 2019 13:23
|
|
|
KnifeWrench posted:lol omg "well duh, of course our investments and operating expenses are irrevocably commingled with the cash reserves that are backing tethers. we wouldn't have a business model otherwise!" this is amazing in how bad this is, i mean this is theo chino bad, you should have your law license revoked for ineptitude this bad
|
|
#
?
May 15, 2019 13:31
|
|
|
"look yer honor, it's not my fault that this money found its way into my pocket and ipso facto once it's in my pocket it's my money and i can do whatever by the napoleonic code! whaddya mean the cops are sayin' i lied to get that money? dey don't know nuttin'! all i'm sayin' is that dis here jackson in my wallet, yer can't prove anythin' wit that! same as any other jackson on the street in some poor schlub's pocket. just cuz you have telephone logs and documents showin' my promise to buy groceries for ol' lady jeannie don't mean nuttin'! a man's gotta be free to bet on the ponies, ya know what i'm sayin'?"
|
|
#
?
May 15, 2019 13:46
|
|
|
Lol Pomp was arguing that the cops love Bitcoin, because criminal activity is traceable.
|
|
#
?
May 15, 2019 14:44
|
|
|
brb, buying more crypto digital
|
|
#
?
May 15, 2019 16:01
|
|
|
I prefer analog crypto for the warmer feeling.
|
|
#
?
May 15, 2019 16:09
|
|
|
i suppose quantum crypto is analog
|
|
#
?
May 15, 2019 16:10
|
|
|
Lambert posted:I prefer analog crypto for the warmer feeling. scratch offs?
|
|
#
?
May 15, 2019 16:19
|
|
|
that pomp guy is like the jacob wohl of bitcoin, but he's on cnbc being taken seriously lol
|
|
#
?
May 15, 2019 17:18
|
|
|
kw0134 posted:"...but we're not a bank or any other financial institute that might be using their depositor's assets with which to fund investments, we're not like them for [blob of wite-out and multiple furious strikeouts scribbled in] and therefore we should not be regulated as such." The lawyer version of mycrimes.txt. The response is gonna be great. 
|
|
#
?
May 15, 2019 17:19
|
|
|
Dixie Cretin Seaman posted:that pomp guy is like the jacob wohl of bitcoin, but he's on cnbc being taken seriously lol Pomp and Circumtowel
|
|
#
?
May 15, 2019 17:51
|
|
|
https://mobile.twitter.com/RealRossU/status/1128680623051173888
|
|
#
?
May 15, 2019 17:53
|
|
|
this Ross Ulbricht fella seems like a real piece of poo poo!!!
|
|
#
?
May 15, 2019 17:56
|
|
|
divabot posted:Pomp talks disconnected fragments of bitcoin maximalist evangelism in a confident-sounding voice im shocked that motivational bitcoin tweet a day twiter man speaks entirely in motivational bitcoin tweets
|
|
#
?
May 15, 2019 18:35
|
|
|
like genuinely i thought he was a robot
|
|
#
?
May 15, 2019 18:35
|
|
|
he’s got more of a tan than i thought he would
|
|
#
?
May 15, 2019 18:39
|
|
|
|
| # ? Jun 1, 2024 14:46 |
|
|
gschmidl posted:Pomp and Circumtowel ew, slimey
|
|
#
?
May 15, 2019 18:53
|
|