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Boxturret posted:honestly i'd be fine with never seeing him again We can both get what we want if he goes to jail for decades.
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Sep 8, 2021 18:18
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kw0134 posted:sort of; elon had to make public noises of contrition because behind the scenes the lawyers in fact did their jobs and wrestled him down. he's certainly made a lot fewer angry shitposts on twitter towards the sec, so job done. he's openly taunted them a couple of times in the last year and he has never stopped materially misrepresenting tesla to affect the stock price. i mean, there was an outcome, but it was basically a judge telling the sec to go piss up a rope
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Sep 8, 2021 18:21
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the biggest thing the sec went after was "$420, funding secured" which forced tesla to put in controls (at least nominally). the problem, as a few commentators pointed out at the time, was that the market was irrational anyway and blew past that level so that the price now is several multiples of that number. so the instant case, because no one could prove actual harm, forced the sec to take the pinky-swear that musk won't make obvious statements about his stocks price (though the fact he said something like tesla was overpriced raised other interesting questions!) he's manipulated the price of other should-be securities like doge/buttcoin which technically should be actionable but  because that gets into uncharted territory
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Sep 8, 2021 18:29
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yeah but I don’t see “on a computer” anywhere in there
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Sep 8, 2021 18:33
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Technically bitcoin doesn't exist.
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Sep 8, 2021 18:40
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lol coinbase has (and I've said as much over and over before) been probably the most responsive and thorough institution in their 314b replies, presumably to try looking good to bank regulators but they clearly didn't expect the securities regulators to be paying attention lmao
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Sep 8, 2021 18:51
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wow the hits keep coming in on this bitcoin thing, I guess that means its a good time to BUY NOW right>>>>??
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Sep 8, 2021 19:10
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Mercury_Storm posted:wow the hits keep coming in on this bitcoin thing, I guess that means its a good time to BUY NOW right>>>>?? there are still people* shouting that it will go to $100k by next year, so of course it's a good time to buy *who i'm sure didn't mortgage their house and empty their savings to buy it when it was $60k+
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Sep 8, 2021 19:13
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Sep 8, 2021 19:15
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Sep 8, 2021 19:26
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couldn't they just be gay?
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Sep 8, 2021 19:34
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ultrafilter posted:When you're falling off a cliff, you might as well flap your arms and see if it works. drat…that one gets copied into the home network “quotes” folder. Sounds like something Det. John McClane would say before throwing a German mercenary off the building.
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Sep 8, 2021 19:54
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infernal machines posted:couldn't they just be gay? yeah turns out i'm a 30 year old virgin apparently, that's news to me
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Sep 8, 2021 19:57
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SOMEONE SAID BUTTCOIN!ultrafilter posted:buttcoin
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Sep 8, 2021 20:07
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whoa what happened here?!
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Sep 8, 2021 20:21
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your honour it's not a security it's a ~*disruptive*~ security, duh
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Sep 8, 2021 21:35
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DerekSmartymans posted:drat…that one gets copied into the home network “quotes” folder. Sounds like something Det. John McClane would say before throwing a German mercenary off the building. it's actually from robocop 
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Sep 8, 2021 21:37
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STOP YOU ARE VIOLATING THE NAD
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Sep 8, 2021 21:38
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young male honesty on the rise
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Sep 8, 2021 21:48
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Matt Levine of Bloomberg's Money Stuff has some thoughts on the Coinbase thing, and after reading it I've got some more thoughts on just how many ways in which Coinbase is being dumb and bad:quote:It is particularly unsatisfying because lending is such a normal concept and, in general, not a security. If I lend you a dollar, or a Bitcoin, that’s not a security, even if you promise to pay me interest. What transforms a simple loan (not a security) into the sort of “note” that is a security is a little hazy; there is that pooling of investment for outside management, and the law involves a four-part test asking about the purpose of the loan, whom it was sold to, how it was marketed and whether there is an “alternative regulatory scheme.” If I lend you a Bitcoin, that's not the sort of loan that is a security; if a big company markets a lending program to customers looking to make money, that (probably) is. But it is all a bit vague and muddled. Syndicated loans to companies are not securities. Why are pooled loans to Bitcoin speculators securities? 1) Levine points out that the lending program itself counts as an investment contract and thus a security, independent of the type of assets that the users will lend under the program. But... 2) Levine actually explains the lending program incorrectly. He seems to think users invest bitcoins (not a security, probably), but they would actually invest USDC (an unregistered illegal security offering, probably), per Coinbase's statement. So Levine is correctly identifying one problem (the lending program constitutes an investment contract and thus a security), but he's missing a second problem: Coinbase is soliciting investments by swapping them for unregistered securities issued by a Coinbase affiliate. So now I'm curious - is the SEC focusing on the lending program alone, or are they looking at the lending program and USDC? 3) He also points out that if the lending program isn't ruled an investment contract/security, then it's must be thought of as a interest-bearing deposit account - but then they intend to avoid banking regulations by accepting USDC instead of USD. How can the regulators let that stand? What the hell is Coinbase thinking here, can they really expect the financial regulators to allow them to play this hide-the-dollars shell game, did they think the feds would just throw their hands up in bewilderment and say "welp you got us, you found the one weird trick to escape securities and banking regs!" Blotto_Otter fucked around with this message at 21:52 on Sep 8, 2021 |
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Sep 8, 2021 21:50
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one thing Levine absolutely gets right is that if it's not a security, it's a bank, and coinbase really doesn't want to become a bank because if they think the sec is onerous, oooooooooooooh boy wait till they meet the banking regulators.
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Sep 8, 2021 22:01
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you know that's exactly what they think though. They think that the law should be code in that it has a perfect right and wrong way, and just like sovereign citizens, if you do the alright series of things you are untouchable whereas irl, the law is deliberately imprecise on certain points to allow for a judge to make a decision and avoid this exact idiot's view of things
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Sep 8, 2021 22:03
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also frankly if you're lending someone money, you want to get it back, and if that's an institution that means contracts and I guarantee the small print of this poo poo says "we reserve the right to...." And then has a load of actually unenforceable garbage that relies on people basically waiving their rights (which you can't actually do iirc)
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Sep 8, 2021 22:06
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Blotto_Otter posted:did they think the feds would just throw their hands up in bewilderment and say "welp you got us, you found the one weird trick to escape securities and banking regs!" they can't possibly be this stupid, you must be explaining it wrong
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Sep 8, 2021 22:37
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Blotto_Otter posted:What the hell is Coinbase thinking here, can they really expect the financial regulators to allow them to play this hide-the-dollars shell game, did they think the feds would just throw their hands up in bewilderment and say "welp you got us, you found the one weird trick to escape securities and banking regs!" it’s worked for cryptobros so far, so why not?
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Sep 8, 2021 22:53
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kw0134 posted:one thing Levine absolutely gets right is that if it's not a security, it's a bank, and coinbase really doesn't want to become a bank because if they think the sec is onerous, oooooooooooooh boy wait till they meet the banking regulators. there has not been a single new national banking license issued since the 2008 crisis
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Sep 8, 2021 23:12
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Jose Valasquez posted:it’s worked for cryptobros so far, so why not? i guess it was worth a shot once they went down this road, but most cryptobros don't have a NASDAQ listing and a $70 billion dollar market cap and a separate $27 billlion don't-call-it-a-money-market-fund. They already struck it rich, did they really need to try the same kind of scheme that even regulators from places like Alabama have been calling bullshit on lately? I realize that "get money now, figure out
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Sep 8, 2021 23:22
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Blotto_Otter posted:i guess it was worth a shot once they went down this road, but most cryptobros don't have a NASDAQ listing and a $70 billion dollar market cap and a separate $27 billlion don't-call-it-a-money-market-fund. They already struck it rich, or did they? maybe all the money was stolen years ago and they've been flailing around trying to make it all back, like mtgox
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Sep 8, 2021 23:30
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Blotto_Otter posted:i guess it was worth a shot once they went down this road, but most cryptobros don't have a NASDAQ listing and a $70 billion dollar market cap and a separate $27 billlion don't-call-it-a-money-market-fund. Look at this fool who hasn't been watching the tether printer hard at work 
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Sep 9, 2021 00:08
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carrying a tether printer for bitcoin i hope i get a hug
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Sep 9, 2021 08:26
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you get something even better. an nft of a hug
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Sep 9, 2021 08:38
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Hello, I own a higher end convenience store in the state of Illinois. We have any normal convenience store in the front (Lotto, Tobacco, etc.) and towards the back of the store we sell some technology based products that are also sold on my eCommerce store. Anyway, my store has a cryptocurrency ATM inside of it. I do not own it and it is operated by a 3rd party company. However, I have seen this teenager (around the age of 15-16) come into my store everyday for the past 6 months and putting in thousands of dollars a day into the machine and buying Monero with it (untraceable cryptocurrency). I have always been suspicious about it because he never completes our KYC which is required after $2,500. Instead, he buys a new burner phone from either me or someone else and just puts that phone number in to reset his limits. His amounts he has put in have increased dramatically. First it was around $500, then $1500, $3000 and now sometimes I see him putting in sometimes up to $5000 a day into that machine. I contacted the owner of the machine and he said that he doesnt care as it makes him some money and I get 5% of every transaction. I feel hopeless at this point and I know something is up with this kid. Most likely some sort of Ilegal activities. Anyone got any advice?
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Sep 9, 2021 10:29
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source you are quotes
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Sep 9, 2021 10:38
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Sell him Montero instead "op".
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Sep 9, 2021 12:16
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Luigi Thirty posted:Hello, I own a higher end convenience store in the state of Illinois. We have any normal convenience store in the front (Lotto, Tobacco, etc.) and towards the back of the store we sell some technology based products that are also sold on my eCommerce store. hello
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Sep 9, 2021 13:12
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how the gently caress does el salvador expect to make bitcoin their legal tender!! it doesn't work!! you can't do transactions with it. wtf is going on???
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Sep 9, 2021 13:44
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a.p. dent posted:how the gently caress does el salvador expect to make bitcoin their legal tender!! it doesn't work!! you can't do transactions with it. wtf is going on??? Dunning-Pagliaci
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Sep 9, 2021 14:05
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Luigi Thirty posted:Hello, I own a higher end convenience store in the state of Illinois. We have any normal convenience store in the front (Lotto, Tobacco, etc.) and towards the back of the store we sell some technology based products that are also sold on my eCommerce store. yes. buy bitcoin !!
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Sep 9, 2021 15:07
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"hi I'm just posting my full awareness of and inaction on several concurrent money laundering crimes occurring within the business I own, remember the law says you gotta tell me if you're a fed ok"
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Sep 9, 2021 15:17
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Main Paineframe posted:according to the article, it was the same folks, and it wasn't even a distance thing. turns out all their principles and freedoms didn't mean jack poo poo when the Thai government decided they didn't want a libertarian commune anywhere near their coast and sent the navy to support it gently caress that article is hilarious Though Romundt doesn’t usually drink, he had a glass of wine and called all his friends saying, “I’m on my own cruise ship for Christmas!” He had the kind of good time it is perhaps only possible to have when you have just made an unbelievably expensive mistake born of a desire to invent an entirely new way of living and involving the purchase of a huge floating vessel. “I was king of the ship!” he said, still delighted. ............. Seeing the pod’s nascent form, I felt a boringly pragmatic urge to ask Romundt what happened if, once afloat, you needed to buy a pint of milk. My question seemed to miss the point, too wedded to old-fashioned notions of locality and human connection. The Pods had been designed to have a hatch in the roof, Romundt said. He was talking to some drone creators and imagined people flying to their pods independently, landing on the roof and entering through the hatch. Perhaps that’s how you’d get your milk.
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Sep 9, 2021 15:20
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