|
Anyone able to write out what happened to crypto and FTX for a layperson? So is the entire crypto market dead now? Or just a big part of it.
|
#
?
Nov 12, 2022 17:41
|
|
|
|
| # ? Jun 8, 2024 00:42 |
|
|
Blind Rasputin posted:Anyone able to write out what happened to crypto and FTX for a layperson? So is the entire crypto market dead now? Or just a big part of it. A ponzi scheme, perhaps unintentional was baked into FTX's operating model. Crypto is hurt by this but not quite dead since Binance and other institutional investors are still in the game. This will definitely disincentivize future investment or investors.
|
|
#
?
Nov 12, 2022 17:56
|
|
|
Immanentized posted:A ponzi scheme, perhaps unintentional was baked into FTX's operating model. Its basically this. Most of these crypto exchanges are either used to launder crypto or suck in investment money and funnel it into the pockets of a few. Nearly all crypto is just a ponzi scheme https://twitter.com/LisaForteUK/status/1591481767831244804?s=20&t=A15F8Tcly7HcIELfJorkNQ
|
|
#
?
Nov 12, 2022 18:31
|
|
|
Blind Rasputin posted:Anyone able to write out what happened to crypto and FTX for a layperson? So is the entire crypto market dead now? Or just a big part of it. Crypto, like the rest of Silicon Valley was growing too quickly during early Covid when money was basically free. They did a bunch of stupid things that assumed the world wouldn’t shift back normal and lost a lot of money and had to fire large amounts of employees. While it’s a down turn for normal tech, because many still have actual products, or at least huge advertising streams, crypto has no viable product. As such, crypto has lost close to 70% value in the last year after its highest point in 2021 during the NFT boom. FTX, the company that went into bankruptcy, had been funneling money back and forth between itself and Alameda Research. Both of these companies are owned by Sam Bankman Fried(SBF), who for all intents, was the face of Crypto. Because crypto is stupid, they have secondary coins to help prop up Bitcoin and Etherem. FTX coin was called FTT. Binance, the number one exchange owned a bunch of FTT. SBF and Binance’s founder, Changpeng Zhao (CZ), have been having quarrels the last few weeks. CZ decided to play market manipulation and say he was going to sell off over a billion FTT, causing a blitz to sell off, crashing its value. Because crypto is stupid, and SBF was cooking the books of his different companies and playing a shell game, got caught with his pants down and didn’t have the money to handle the billion dollar sell off, even though he was supposed to have upward of 10 billion of customers money. CZ, being an altruist(/s), says he will help FTX by buying it, during due diligence he gets a look at their books, sees it’s a house of cards, and pulls his support, wing the final death knell in FTX. FTX then came out and said they were hacked, and so was SBF’s other companies. Now everyone is finding out SBF had a back door to funnel money out, so everyone assumes SBF stole anything he could before people come looking for the money.
|
|
#
?
Nov 12, 2022 18:40
|
|
|
Didn't ftx put up a bunch of money to help Elon buy Twitter too?
|
|
#
?
Nov 12, 2022 19:04
|
|
|
facialimpediment posted:Per NYT, Elon's plan has become a success, leading to 140,000 Twitter Blue subscriptions. Getting dunked on by doja cat. This week has everything
|
|
#
?
Nov 12, 2022 20:36
|
|
|
I liked with how crypto had folk handwaving stuff like “this exchange was originally for selling magic cards,” or “this fund’s founder may not really exist,” or “everyone involved in this fund lives somewhere far outside the reach of litigation” as long as numbers were going up.
|
|
#
?
Nov 12, 2022 20:53
|
|
|
Milo and POTUS posted:Getting dunked on by doja cat. This week has everything I would let doja cat dunk me. Meow.
|
|
#
?
Nov 12, 2022 21:11
|
|
|
Crab Dad posted:I would let doja cat dunk me.
|
|
#
?
Nov 12, 2022 21:15
|
|
|
https://twitter.com/John_Hudson/status/1591523408860221440?s=20&t=MOwLnGFoWgMY9N4lKLkMTA Fry shocked not shocked dot gif
|
|
#
?
Nov 12, 2022 21:23
|
|
|
I'm a little ashamed overlooking that.
|
|
#
?
Nov 12, 2022 21:29
|
|
|
Oxygenpoisoning posted:Crypto, like the rest of Silicon Valley was growing too quickly during early Covid when money was basically free. They did a bunch of stupid things that assumed the world wouldn’t shift back normal and lost a lot of money and had to fire large amounts of employees. While it’s a down turn for normal tech, because many still have actual products, or at least huge advertising streams, crypto has no viable product. It’s funny to me because I’m the medical field FTT stands for Failure To Thrive.
|
|
#
?
Nov 12, 2022 21:34
|
|
|
Don't know if anyone saw this yet but, two planes have collided at an airshow in Dallas. https://www.wfaa.com/amp/article/news/local/dallas-plane-crash-dallas-executive-airport-rbd/287-1d54f7a6-05ad-40ee-a02b-961874c52bea
|
|
#
?
Nov 12, 2022 21:50
|
|
|
Shaddak posted:Don't know if anyone saw this yet but, two planes have collided at an airshow in Dallas. Here's footage. https://twitter.com/polialertcom/status/1591533928456028160?t=98Aar2aRkLD7sBE1r6EPFQ&s=19  The only real Vets day in our household.
|
|
#
?
Nov 12, 2022 22:53
|
|
|
Handsome Ralph posted:Here's footage. ....and that's another B-17 gone. This would be the second in 2 years.
|
|
#
?
Nov 12, 2022 23:17
|
|
|
Word is still out on if that was a tourist hired flight. Layman analysis is the fighter was going too fast, lost visual on the 17.
|
|
#
?
Nov 12, 2022 23:29
|
|
|
facialimpediment posted:[dojacat] Shameful journalist fails to note that she changed her avatar to that one photo of a balding Musk.
|
|
#
?
Nov 12, 2022 23:31
|
|
|
bulletsponge13 posted:Word is still out on if that was a tourist hired flight. Was banking away, the B-17 was in his blind spot immediately below him and the Aircobra was too close. Underestimated his turn...
|
|
#
?
Nov 12, 2022 23:34
|
|
|
bulletsponge13 posted:Word is still out on if that was a tourist hired flight. As far as I can gather this was an airshow performance.
|
|
#
?
Nov 12, 2022 23:36
|
|
|
Plastic_Gargoyle posted:As far as I can gather this was an airshow performance. Not sure if they offer it, but I know some of the old war birds offer paying rides. I imagine it's a possibility that there were strap hangers on the B-17. I'm probably wrong and flaunting my ignorance, though. E- RUMINT from a local I went to school with is that they were fully booked all weekend for tourist flights.
|
|
#
?
Nov 12, 2022 23:43
|
|
|
Jesus christ please let them not have been so dumb as to have had passengers onboard during a flight with close formation flying.
|
|
#
?
Nov 12, 2022 23:45
|
|
|
MRC48B posted:Jesus christ please let them not have been so dumb as to have had passengers onboard during a flight with close formation flying. I sure as gently caress hope so, too. E- AP seems to be saying 6 suspected dead
|
|
#
?
Nov 12, 2022 23:50
|
|
|
MRC48B posted:Jesus christ please let them not have been so dumb as to have had passengers onboard during a flight with close formation flying. Unless they work in a volunteer or family, any kind of paid passenger cannot fly during airshows. It’s why these craft, if they take passengers at all, take them deconflicted from the airshow proceedings, either outside airshow hours or miles away.
|
|
#
?
Nov 12, 2022 23:51
|
|
|
Geez, awful.
|
|
#
?
Nov 12, 2022 23:53
|
|
|
mlmp08 posted:Unless they work in a volunteer or family, any kind of paid passenger cannot fly during airshows. It’s why these craft, if they take passengers at all, take them deconflicted from the airshow proceedings, either outside airshow hours or miles away. There was someone booked for a flight shortly after this.
|
|
#
?
Nov 12, 2022 23:56
|
|
|
One in the Cobra, Two pilots, an FE, a nav, the last person was probably media. So then no passengers. Still brutal. The reality is the FAA should have cracked down on this poo poo after the last incident. More rules written in blood. 
|
|
#
?
Nov 12, 2022 23:57
|
|
|
Blind Rasputin posted:Anyone able to write out what happened to crypto and FTX for a layperson? So is the entire crypto market dead now? Or just a big part of it. this is the best explainer I've seen so far: https://newsletterhunt.com/emails/22937 tldr they were running an exchange where people sent them cash money to trade for bitscoins, and were theoretically holding those people's cash money and/or the bitscoins they bought with them on their behalf. Then, they also started selling their own flavor of magic beans, and loaned out all of the cash moneys AND bitscoins they were holding on behalf of their customers, and accepted their own magic beans back as collateral. So then when the customers asked for their moneys or even their bitscoins back there was nothing in the treasury but magic beans 
shame on an IGA fucked around with this message at 01:11 on Nov 13, 2022 |
|
#
?
Nov 13, 2022 01:06
|
|
|
Recent updates include allegations they were cooking the books, had unauditable backdoors in their bespoke bookkeeping software, the hedge fund was investing in startups they owned, and the entire thing was run by a League of Legends polycule in the Bahamas. Speculation is that the recent hack of their remaining liquid cryptocurrency assets was an inside job. And the hackers moved the funds to a crypto wallet called cumsock. Also their auditor is all in on a crypto metaverse and sponsors the "Decentraland Babydolls". Highly recommend the YOSPOS Buttcoin thread, laughs are going to the moon.
|
|
#
?
Nov 13, 2022 01:20
|
|
|
CommieGIR posted:....and that's another B-17 gone. There can't be that many flyable P-63s left, either.
|
|
#
?
Nov 13, 2022 01:20
|
|
|
Madurai posted:There can't be that many flyable P-63s left, either. Apparently 3 left now. Just absolutely terrible. From what I've seen it's doubtful the P-63 saw the B-17 at all before impact with the way it came in. Still pictures make it look like the cockpit of the B-17 got shredded pretty good on impact. Hopefully no one was in the nose.
|
|
#
?
Nov 13, 2022 01:31
|
|
|
shame on an IGA posted:this is the best explainer I've seen so far: It’s the perfect crime. Who’s to say if it was purposeful fraud or if they were just that incompetent?
|
|
#
?
Nov 13, 2022 01:56
|
|
|
Hopefully, a prosecutors and a jury.
|
|
#
?
Nov 13, 2022 01:59
|
|
|
bulletsponge13 posted:Not sure if they offer it, but I know some of the old war birds offer paying rides. I imagine it's a possibility that there were strap hangers on the B-17. I'm probably wrong and flaunting my ignorance, though. That wreck is loving awful and hard to watch. I have had a bit of a rough year with cancer and spinal surgeries, and my wife bought me a flight on Doc. I got to fly on the B-29 back in July in the bombardier seat. I have some amazing footage and pictures but I suck at posting anything on here, you can see my stuff on nature_vet on Instagram though.
|
|
#
?
Nov 13, 2022 02:31
|
|
|
MonkeyWash posted:That wreck is loving awful and hard to watch. It was like watching old war footage. Just -cut- fire. I followed you on there, experienced_idiot13
|
|
#
?
Nov 13, 2022 03:16
|
|
|
CommieGIR posted:Was banking away, the B-17 was in his blind spot immediately below him and the Aircobra was too close. Underestimated his turn... It's hard to tell but to me it looks like he was banked but for some reason nosing down a bit, so basically turning blindly. Seems like an insane way to fly at low altitude with other aircraft in close proximity!
|
|
#
?
Nov 13, 2022 05:10
|
|
|
Nick Soapdish posted:https://twitter.com/John_Hudson/status/1591523408860221440?s=20&t=MOwLnGFoWgMY9N4lKLkMTA lmao. Just picked the worst regional allies every single time. It's legit funny
|
|
#
?
Nov 13, 2022 05:32
|
|
|
Milo and POTUS posted:lmao. Are...are there good regional allies in the middle east?
|
|
#
?
Nov 13, 2022 10:57
|
|
|
Basticle posted:Are...are there good regional allies in the middle east? Jordan?
|
|
#
?
Nov 13, 2022 11:11
|
|
|
Basticle posted:Are...are there good regional allies in the middle east? Weren't the Kurds supposed to be decent allies? I mean, before the US stopper supporting them.
|
|
#
?
Nov 13, 2022 13:27
|
|
|
|
| # ? Jun 8, 2024 00:42 |
|
|
Randalor posted:I mean, before the US stopped supporting them. Which time?
|
|
#
?
Nov 13, 2022 13:34
|
|