Serious stonks strategy talk

[Nintex]

https://twitter.com/GeertNoels/status/1592416285123817472

 

[Propagandhim]

https://twitter.com/unusual_whales/status/1592550631696662528

Lack of awareness due to weapons-grade autistic spectrum disorder unknown to mankind until this moment.

[Propagandhim]

https://twitter.com/SBF_FTX/status/1592611893449220097


This is my last post about this.  Promise.  This individual is a fascinating example of what a meteoric rise in wealth, fame, and successive achievements via effortlessness and extraordinary talents can do to one's mind and self-conception.  No doubt Sam has been able to accomplish things that the average person couldn't dream of by very little effort - in interviews he details how he basically bent down and picked up a physics degree in a few years from the best technical school on earth (with a minor in math), then went to work in the finance world and became obscenely wealthy in an extremely short period of time.  It's apparent that at no point was his will ever tested to the extent of any major failures before having meteoric success.   The consequences of that are actually breathtaking to watch in real time:  he doesn't understand that there is value in things like trust and reputation beyond what he achieved.  He can't understand that there is value to the consequence of things, and one's value is not simply based on what he is easily able to achieve beyond others. He keeps insisting that he belongs and continues to insert himself in public life - he insists FTX will work to achieve funding.  He insists that what he did is not irreversible, the proof of which is that he's a special wunderkind genius that deserves second chances in ways that others don't in the finance world.  Nobody recovers from this professionally -- no one, and any reasonable person who did this would understand that and back away from public life.  But he doesn't stop.  He keeps talking as if he didn't do much of anything.  The way he speaks in his NYT interview was obscene.  A dark, autistic, forest of solipsism.   He destroyed peoples' lives.  He's deleting posts that are obviously incriminating.  He's doing it all in public...and he just carries on.  His expectation that his reputation abides beyond reproach is incredible.    Just fucking incredible.

[Occam]

I read that institutionals (e.g. hedge funds) are the ones who lost most money at FTX. This guy is so obviously not all there, why would you hand him BILLIONS? Due diligence, what is that? Is greed causing brain damage?

[Nintex]

I've seen people try to prop up Luna and it actually seems to be working. The NYT puff piece was printed because he's still well connected to the right people.
He might be able to mount a better comeback than he should be allowed to.

I read that institutionals (e.g. hedge funds) are the ones who lost most money at FTX. This guy is so obviously not all there, why would you hand him BILLIONS? Due diligence, what is that? Is greed causing brain damage?

Remember Epstein? Plenty went into business with him after he was outed as a pedophile.

[Propagandhim]

This is not a world you come back from for doing things like that.  He cannot build and maintain an independent business in finance without trust, let alone unregulated crypto finance.  I don't know how he'll achieve funding and build back up with this reputation.   I don't know what his future holds, but it won't have any semblance to the type of work he's doing now.  I don't get how he doesn't understand that.

[Propagandhim]

You know what?  Forget that.  I don't stand by that.  I just found out Jeffrey Skilling is working in fundraising for a fuel trading platform called "Veld."  Just fuck everything.  Nothing really matters if you think about it.   


edit: nvm, didn't last long.   

[Occam]

From what we have learned so far, how could Bankman Fried possibly avoid going to prison?

[Propagandhim]

From what we have learned so far, how could Bankman Fried possibly avoid going to prison?

Last I heard the Justice Department is investigating, but there is a process involved with filing criminal charges.  The obvious issues involving jurisdiction are probably why it's taking awhile and the need to establish nexus cases between US banks and interactions between clientele and business operations in the bahamas as a way to formally arrange for extradition.  Before those filings could be served, I think he was under surveillance so he didn't run and likely still is.   It would probably be an immediate arrest if he were in the US.   I'll be honest though, and I could be wrong, but I don't think what SBF did was illegal in the Bahamas, which is why all those guys go to places like that and the Caymans to do business.  I think it's likely he'll be extradited because the Justice Dept will easily establish nexus cases in the US.

[Occam]

I haven't looked into it, but surely even in the Bahamas there is some kind of law against embezzlement (in case he doesn't get extradited to the US due to jurisdiction).

[Nintex]

Beyond that most regulations do not apply to crypto markets and any victims would need to hire expensive legal help to bring a complicated case such as this to court. Something they cannot afford.

[Skullfuckers Anonymous]

https://mobile.twitter.com/Variety/status/1592968396911558658

Did FTX not have the Steph Curry 30 day money back guarantee?

[recursivelyenumerable]

This text interview is amazing: https://www.vox.com/future-perfect/23462333/sam-bankman-fried-ftx-cryptocurrency-effective-altruism-crypto-bahamas-philanthropy

He has a ... really familiar "text voice"

[Tasty]

How it started:




How it's going:




...

[Tasty]

Also, lmao:

https://sbfleaks.eth.limo/

[Nintex]

This text interview is amazing: https://www.vox.com/future-perfect/23462333/sam-bankman-fried-ftx-cryptocurrency-effective-altruism-crypto-bahamas-philanthropy

He has a ... really familiar "text voice"

Mindhunter but with crypto bro's instead of serial killers and the female lead wants to join their orgies.

Also, lmao:

https://sbfleaks.eth.limo/

[james]

I should have started my own crypto exchange

[Tasty]

I should have started my own crypto exchange

I wanted to make my own cryto trading cards before crypto was a thing (but blockchain was), even posted about it here but no one "got it"

[james]

I should have started my own crypto exchange

I wanted to make my own cryto trading cards before crypto was a thing (but blockchain was), even posted about it here but no one "got it" (Image removed from quote.)

Did you explain we would be defrauding bros? Because that's the key hook

[benjipwns]

https://mobile.twitter.com/Variety/status/1592968396911558658

Did FTX not have the Steph Curry 30 day money back guarantee?

How can you sue Larry for calling it accurately?

[Skullfuckers Anonymous]

Also, lmao:

https://sbfleaks.eth.limo/

I have information that will lead to the arrest of SBF.

[who is ted danson?]

I should have started my own crypto exchange

Need to form a bore polycule first

[who is ted danson?]

https://twitter.com/kadhim/status/1593222595390107649

This thread

[james]

https://twitter.com/WhaleChart/status/1592913773542576128



Ok but lets be serious for a moment.

WTF does a billionaire have such an ugly gf? And this goes for both of them. Theyre both ugly as fuck, but they both have (had) money and could have easily found a hottie.

Thats the biggest red flag for me. If I had a billion, I would be fucking an entire college cheerleading squad.

[Propagandhim]

Yeah, you gotta wonder how bad this guy smelled to not get seduced by hot golddigging sluts.  Cuz you know he would take them.  Also, that sextape:  I want to believe, but I know any 'ol schmuck can make a website.

[Occam]

Why would you want to expose your retinas to that?

[Nintex]

https://twitter.com/TheStalwart/status/1593242738333724673

https://twitter.com/GRDecter/status/1593272124092850184

https://twitter.com/SquawkCNBC/status/1592880370344919042

[james]

Is that true about Bali?

Very interesting.

[Occam]

So I looked into this a little. While of course there could be ripple effects, I don't see why this would have much influence on the price of Bitcoin in the long run. FTX has none left, so it's not like a large amount could be dumped.
And the larger companies who really do own Bitcoin (Coinbase, Binance, etc.) whose income is mainly generated by transaction fees are unlikely to become illiquid due to withdrawals because they actually do store the coins of their customers and don't speculate with them. Meaning, they have no reason to dump any Bitcoins to stay solvent. Some people withdrawing Bitcoin to their own wallets now does not influence the price, either, it just reduces the amount directly available for trading (meaning, there could be bigger price swings like with stocks that have a small float).
In conclusion, I doubt that this will be the end of cryptocurrency. It will probably only lead to the richest (who already own most Bitcoins and don't care even about 90% price drops and who intend to hold it for decades) to accumulate even more at cheaper prices.
Does my reasoning make sense? (Just to be clear, I am not a crypto bro, I just found this interesting).

[Nintex]

You should look into why altcoins or even shitcoins exist.

Basically there is a finite number of Bitcoin that can be mined or even exist. And the bigger the blockchain becomes, the slower the transactions.
So Bitcoin basically turned into 'gold', something people hold but seldom trade. Which is not what crypto needs to be if rapid growth is to be achieved.
Not to mention that Bitcoin became unattractive to newcomers. You can own 0.0035 Bitcoin or 100 Litecoin or whatever.
For a get rich quick scheme 100 beats out 0.0035 any day of the week.

Then there's the centralization. Basically it was all decentralized or supposed to be but many people found it too difficult to maintain their own wallets so instead they signed up for exchanges and stored their coins there.
Overall the fundamentally broken market has been propped up with all sorts of gimmicks like alt coins, shit coins, splitting coins, merging coins etc. etc.

Finally there's the resources required to keep it all running. It costs nothing to put a paper bill in your pocket. It won't cost you more next week or next year.
With crypto this is different, the value gets lower (so you need more) but more crypto will require more and more energy for storage, upkeep and mining (which is more expensive).
I don't see how crypto can be viable a decade from now let alone 50 years. If it becomes a massive success it can't be sustained because of energy costs but if it doesn't it's basially worthless.

[Occam]

Paper in pockets? What are you talking about? Do you think banking, credit cards, online transfers etc. require no energy?
Ethereum just reduced its energy usage by 99.95% It's obviously possible to not make cryptocurrency waste lots of energy, if that's what people want.

[james]

https://mobile.twitter.com/6d6f636869/status/1593425650919952384

[Tasty]

Damn. Thought he couldn't get any lower after Balan...

[who is ted danson?]

Is that true about Bali?

Very interesting.

"wtf why do all these discord mods live in bali?"

[Skullfuckers Anonymous]

Also, lmao:

https://sbfleaks.eth.limo/

Oh boy, sex tape time!

this. Vox "leaks" were a distraction from this video. More Eyes before the video can be Released. Updates Tomorrow on the SBF and Caroline Sex Tape Leak.

 

[BIONIC]

My raging boner remains unsatisfied 

[james]

Sold    TSLA
Tesla Inc
   TESLA INC    $222.50

 

spoiler (click to show/hide)

I bought at  $295.16 so a loss but I think its going to keep going down

[close]

198.71 USD −8.76 (4.22%)
today

 

189.56 USD −7.52 (3.81%)
today


 


The James Fund instinct is still strong bois

183.05 USD −8.25 (4.31%)
today

It's going down, I'm yelling timber
You better move, you better dance

The $169 floor has been broken

Next stop is 150

[Tasty]

~15:15

Bloomberg 👏 Is 👏 Trash 👏

[who is ted danson?]

https://twitter.com/jason_koebler/status/1594720003923722240

[james]

https://twitter.com/arstechnica/status/1594778302677651456

[chronovore]

https://twitter.com/arstechnica/status/1594778302677651456

I don't mind an "assistant," but my Alexa Dot will offer me shopping tips, subscription services, and basically tries to sell me something every time I've ever asked it ANYTHING.

[benjipwns]

Alexa was a big moneymaker as a novelty at first so I assume they poured money into it assuming it would just print more and the article seems to indicate that is true despite never figuring out what part of it will do the moneyprinting:

Just about every plan to monetize Alexa has failed, with one former employee calling Alexa "a colossal failure of imagination," and "a wasted opportunity." This month's layoffs are the end result of years of trying to turn things around. Alexa was given a huge runway at the company, back when it was reportedly the "pet project" of former CEO Jeff Bezos. An all-hands crisis meeting took place in 2019 to try to turn the monetization problem around, but that was fruitless. By late 2019, Alexa saw a hiring freeze, and Bezos started to lose interest in the project around 2020. Of course, Amazon now has an entirely new CEO, Andy Jassy, who apparently isn't as interested in protecting Alexa.

The report says that while Alexa's Echo line is among the "best-selling items on Amazon, most of the devices sold at cost." One internal document described the business model by saying, "We want to make money when people use our devices, not when they buy our devices."

That plan never really materialized, though. It's not like Alexa plays ad breaks after you use it, so the hope was that people would buy things on Amazon via their voice. Not many people want to trust an AI with spending their money or buying an item without seeing a picture or reading reviews. The report says that by year four of the Alexa experiment, "Alexa was getting a billion interactions a week, but most of those conversations were trivial commands to play music or ask about the weather." Those questions aren't monetizable.

[who is ted danson?]

https://twitter.com/ryangrim/status/1595432125922217984

Tuckers confused face makes this clip haha

[benjipwns]

https://twitter.com/tomgara/status/1595117899143708674

[Nintex]

https://twitter.com/Hedgeye/status/1597249523897753600

[who is ted danson?]

https://twitter.com/AutismCapital/status/1598073756273942528

 

[Nintex]

https://twitter.com/wallstmemes/status/1598101299605950464

[Tasty]

https://twitter.com/ryaneshea/status/1598094603106025472

[Nintex]

https://twitter.com/GavinSBaker/status/1601261872296361984

Silicon Valley has invented a new 'lifehack' known as 'lay offs' to cut this thing called 'costs'

[who is ted danson?]

https://twitter.com/AutismCapital/status/1602412930611707904

[Pissy F Benny]

Autism Capital

[Tasty]

Silicon Valley has invented a new 'lifehack' known as 'lay offs' to cut this thing called 'costs'

Stuck between and right now

[Nintex]

Binance is falling apart too.

I logged into my Coinbase account and everything was gone. 
There wasn't much on there but certainly something. 

Apparently if you don't login for a while your stuff just vanishes. 

[Occam]

Sam Bankman-Fried was arrested Monday in the Bahamas after U.S. prosecutors filed an indictment against him.
(WaPo)

There you go.

[james]

If I stole billions of dollars, I would be building twin mansions on private islands in Vietnam and Indonesia. No extradition to the US, but you need to be wary of local politics, so its important to keep a backup.

spoiler (click to show/hide)

Vietnamese women 

[close]

[james]

Tesla stock in freefall, you love to see it

158.74-9.09 (-5.41%)

Your boy sold at $222:)

[Nintex]

Tesla stock in freefall, you love to see it

158.74-9.09 (-5.41%)

Your boy sold at $222:)

Don't worry, German carmakers have decided to make Homer's car real and also include RGB lights for gamers.
Tesla will go back up soon enough.

[Nintex]

https://twitter.com/GoldTelegraph_/status/1602693209028976641

HODL?

[who is ted danson?]

[Tasty]

Sam Bankman-Fried arrested in Bahamas, charged with “massive” crypto fraud in US