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that dude flew back to indonesia... lol. i hope he wore a mask at least.
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Jul 2, 2022 00:39
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Strong Sauce posted:that dude flew back to indonesia... lol. i hope he wore a mask at least. If you believe that I've got a new stablecoin to sell you.
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Jul 2, 2022 00:40
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Has any coiner tried to re invent credit unions? I just want them to do fraud for the NCUA.
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Jul 2, 2022 00:42
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Dr. Video Games 0031 posted:Obviously there's no reason to trust them, but I believe they're saying that whatever USD you have in their platform is insured (when stored as actual USD and not crypto). That is what they say on their website, but what they're actually insured against seems a bit fuzzy. That webpage claims that customer deposits are in FDIC-insured accounts with Metropolitan Commercial Bank, and that customer USD deposits are insured up to $250k in the rare event your "USD funds are compromised" (???). That insurance arrangement is plausible, but even if we assume it's true... doesn't it just insure you against the failure of Metropolitan Commercial Bank (the actual custodian of your dollars), and not necessarily the failure of Voyager? I'm no FDIC expert, but seems to me that this all hinges on the (unsafe) assumption that Voyager keeps customer USD funds properly segregated and deposited at Metropolitan. If they raided any customer deposits to pay other creditors, or they misrepresented any USDC holdings as "USD", Metropolitan's FDIC insurance isn't gonna do poo poo.
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Jul 2, 2022 00:49
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Cyrano4747 posted:If you believe that I've got a new stablecoin to sell you. lol https://twitter.com/evantan/status/1423498720167956480
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Jul 2, 2022 00:50
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Blotto_Otter posted:That is what they say on their website, but what they're actually insured against seems a bit fuzzy. That webpage claims that customer deposits are in FDIC-insured accounts with Metropolitan Commercial Bank, and that customer USD deposits are insured up to $250k in the rare event your "USD funds are compromised" (???). That insurance arrangement is plausible, but even if we assume it's true... doesn't it just insure you against the failure of Metropolitan Commercial Bank (the actual custodian of your dollars), and not necessarily the failure of Voyager? I'm no FDIC expert, but seems to me that this all hinges on the (unsafe) assumption that Voyager keeps customer USD funds properly segregated and deposited at Metropolitan. If they raided any customer deposits to pay other creditors, or they misrepresented any USDC holdings as "USD", Metropolitan's FDIC insurance isn't gonna do poo poo. Yeah, none of these idiots are getting their money back. There's no way they're their own bank so them going belly up is irrelevant
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Jul 2, 2022 01:37
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Number too sick to fluctuate a lot today; just slowly deflate.
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Jul 2, 2022 01:53
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APEFEST 2022: 90 percent caught covid 0 percent caught an STD.
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Jul 2, 2022 01:58
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in the few events that actually hire women partyers, I love how the pics show them bored out of their mind.
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Jul 2, 2022 02:00
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LifeSunDeath posted:APEFEST 2022: Except for Super Token Destabilization
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Jul 2, 2022 02:33
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See this poo poo? This part of the nft greed appeal, this is the most offensive part of NFT's to me. That was the argument one crypto maximalist told me was a good thing and I wanted to loving shank him, I was so annoyed by this poo poo. He's a better debater than me so I can't really beat the dude on that but it doesn't make this idea any less asinine. The 2nd problem here is it makes everything more expensive. Want to pay 2x the ticket cost just to buy and sell the ticket, and then also pay extra for royalties? Come the gently caress on. Bitcoin: the only real thing it does is make everything more expensive.
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Jul 2, 2022 03:04
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What if everything had a middle man that burned massive amount of electricity to enrich a new cadre of useless vampiric ownership? Buy buy buy!
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Jul 2, 2022 03:16
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Blotto_Otter posted:That is what they say on their website, but what they're actually insured against seems a bit fuzzy. That webpage claims that customer deposits are in FDIC-insured accounts with Metropolitan Commercial Bank, and that customer USD deposits are insured up to $250k in the rare event your "USD funds are compromised" (???). That insurance arrangement is plausible, but even if we assume it's true... doesn't it just insure you against the failure of Metropolitan Commercial Bank (the actual custodian of your dollars), and not necessarily the failure of Voyager? I'm no FDIC expert, but seems to me that this all hinges on the (unsafe) assumption that Voyager keeps customer USD funds properly segregated and deposited at Metropolitan. If they raided any customer deposits to pay other creditors, or they misrepresented any USDC holdings as "USD", Metropolitan's FDIC insurance isn't gonna do poo poo. Your correct the fdic protection refers to the actual accredited bank not voyager
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Jul 2, 2022 03:16
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notwithoutmyanus posted:The 2nd problem here is it makes everything more expensive. Want to pay 2x the ticket cost just to buy and sell the ticket, and then also pay extra for royalties? Come the gently caress on. Are you saying you won't spend every single day browsing used boarding passes on opensea.io? You aren't a real ape, son.
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Jul 2, 2022 03:32
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Rad Russian posted:Are you saying you won't spend every single day browsing used boarding passes on opensea.io? You aren't a real ape, son. Wait, so you mean we can pay for a boarding pass to a historic flight, and it's....immutable? I'm going to be so rich! I'll pass on to my future grandchildren this pass so we can all grow richer!
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Jul 2, 2022 03:34
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people throw away fastfood receipts that give you free fries or small sides/whatever , theyre not going to browse for butts.
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Jul 2, 2022 03:43
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Cigarette companies could have qr codes for nft on the butts so people will collect them preventing them from going into streams etc! There have been attempts to train crows to do this but people feel bad about potential health effects on the crows for picking them up. But, no one will feel bad if nfters start dropping from heavy metal poisoning or whatever.
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Jul 2, 2022 03:59
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priznat posted:Cigarette companies could have qr codes for nft on the butts so people will collect them preventing them from going into streams etc! Are we sure this isn't what made them this way in the first place?
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Jul 2, 2022 04:14
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Noob Saibot posted:Your correct the fdic protection refers to the actual accredited bank not voyager Yeah. The Fintech revolution is all about Durbin exempt banks acting as custodians for whatever weird Fintech idea you have including, apparently, running a crypto investment Ponzi scheme. So the USD in the bank is safe, right? What about my bitcoins? quote:In the event that Customer, Voyager or a Custodian become subject to an insolvency proceeding it is unclear how Customer Cryptocurrency would be treated and what rights Customer would have to such Cryptocurrency. How an insolvency court would categorize and treat Customer Cryptocurrency is a highly fact-dependent inquiry that necessarily depends upon the circumstances of each individual case. In addition, within the U.S. there is notably little case law addressing insolvency proceedings involving Cryptocurrency. As such, the law governing the likely treatment of Customer Cryptocurrency in the event of a Customer, Voyager or Custodian insolvency proceeding remains largely unsettled. Voyager does not make any representation as to the likely treatment of Customer Cryptocurrency in the event of a Customer, Voyager, or Custodian insolvency proceeding whether in the U.S. or in any other jurisdiction. Customer explicitly understands and acknowledges that the treatment of Customer Cryptocurrency in the event of a Customer, Voyager, or Custodian insolvency proceeding is unsettled, not guaranteed, and may result in a number of outcomes that are impossible to predict, including but not limited to Customer being treated as an unsecured creditor and/or the total loss of all Customer Cryptocurrency That’s a lot of words to say “lol, no one knows”. Ok, but you’re holding on to my crypto securely, right? Right?! quote:Consent to Rehypothecate. Customer grants Voyager the right, subject to applicable law, without further notice to Customer, to hold Cryptocurrency held in Customer’s Account in Voyager’s name or in another name, and to pledge, repledge, hypothecate, rehypothecate, sell, lend, stake, arrange for staking, or otherwise transfer or use any amount of such Cryptocurrency, separately or together with other property, with all attendant rights of ownership, and for any period of time and without retaining a like amount of Cryptocurrency, and to use or invest such Cryptocurrency at Customer’s sole risk. Incredible.
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Jul 2, 2022 04:24
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They're suddenly realizing that their money isn't safe https://www.reddit.com/r/Invest_Voyager/comments/vp8kdq/preparing_for_the_inevitable_fdic_claims/ quote:I called the FDIC earlier and they said Voyager Digital LLC was not a bank and was not FDIC insured. They said for future reference, LLCs cannot be banks, ever. So when you see "LLC," any claim of FDIC insurance is false. They did confirm that Metropolitan Bank is FDIC Insured but just because Voyager Digital stated "each Customer is a customer of the Bank" doesn't mean they were funding those accounts. It just means if Metropolitan Bank failed, any holdings Voyager Digital placed under your name there would be safe. But since it's only Metropolitan Bank that's FDIC insured, Voyager Digital failing wouldn't trigger the FDIC insurance. quote:I just called the FDIC
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Jul 2, 2022 04:43
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HappyHippo posted:They're suddenly realizing that their money isn't safe lol for dayyyyyyyysssssss
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Jul 2, 2022 04:47
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doingitwrong posted:Incredible. In all their genius they also publically listed themselves in Canada on a stock exchange (their stock VOYG was $26 earlier, and is now 50 cents). So at least it's possible that the higher-ups might see actual prison if Canadian law enforcement still goes after publically traded ponzis. This one will be more fun to watch than the typical rug pull scam based out of the Caribbean somewhere. Rad Russian fucked around with this message at 04:56 on Jul 2, 2022 |
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Jul 2, 2022 04:51
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HappyHippo posted:They're suddenly realizing that their money isn't safe lmfao
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Jul 2, 2022 04:59
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HappyHippo posted:They're suddenly realizing that their money isn't safe Hope these dopes have a wonderful and long 4th of July weekend.  Surely the fleecing exchange mired in fraud will save us. Unperson_47 fucked around with this message at 05:09 on Jul 2, 2022 |
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Jul 2, 2022 05:03
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Jul 2, 2022 05:59
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HappyHippo posted:They're suddenly realizing that their money isn't safe Statists statists, please save me!!
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Jul 2, 2022 06:03
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HappyHippo posted:They're suddenly realizing that their money isn't safe The bank has put up a page explaining it : https://www.mcbankny.com/fdic-coverage-available-to-voyager-customers/ quote:
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Jul 2, 2022 06:10
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Lol, so basically Voyager's funds are FDIC insured... But none of their investor's funds are insured. It's another rugpull.
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Jul 2, 2022 06:13
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Surely this is criminal
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Jul 2, 2022 06:29
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PostNouveau posted:Surely this is criminal Yes surely finally this is the time that its criminal lol
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Jul 2, 2022 06:30
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No, you don't get it, they put IN WRITING on their faq page that they're trustworthy! They wouldn't be allowed to do that if it weren't true!
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Jul 2, 2022 06:41
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PostNouveau posted:Surely this is criminal A smooth* criminal  * -brained
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Jul 2, 2022 07:25
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more falafel please posted:Lol the team photos are their "metaverse avatars" and they're all just in A-pose I tried to check if any of these people were real. The only one seems to be "co-founder" John Austin, who is found here and has a suspiciously limited profile and history: https://www.linkedin.com/in/john-austin-81247939 Fazil M Jaber also has a page but it lacks any information. The rest are obviously fake people who only link back to Nugen Coin. There were a couple Aysha Austins, but their resumes were too good for this poo poo. Then this came up: https://behindmlm.com/companies/nugen-universe-expands-nugen-coin-securities-fraud/ It outlines what that author could find, many of the things already stated in this thread about its pure rugpull-ness. Austin and Jaber appear to be real, but that's about it. Everything else has no basis in reality. Basically, quote:At a minimum Nugen Coin and its executive team are committing securities fraud. BehindMLM maintains that without a verifiable source of external revenue, Nugen Coin is and continues to operate as a Ponzi scheme.
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Jul 2, 2022 08:09
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Bankman-Fried is trying so hard to be a sophisticated financier through this, it’s touching It won’t save him though
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Jul 2, 2022 08:47
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 Sucks this dude got so in deep to lose his family's money but he says he'll still be able to retire so he's doing better than most of us. Unperson_47 fucked around with this message at 08:49 on Jul 2, 2022 |
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Jul 2, 2022 08:47
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The Nugen coin website still down. Odds of them going for the instant rug pull appear to be rising.
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Jul 2, 2022 08:59
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The poster who stood their ground against the Nugen Acolytes trying to sign him and his family up should be elected suburb elder or leader of their NextDoor.
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Jul 2, 2022 09:06
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Unperson_47 posted:
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Jul 2, 2022 09:11
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It’s ashamed that I wasn’t able to scam these people, I would have a lot more fun with my Goldbank LLC. Goldbank: what’s yours is mine
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Jul 2, 2022 09:22
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About to kiss sub-$19k again. I might as well be a coiner because I'm addicted to the dip.
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Jul 2, 2022 10:33
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