Nostr Web Client

Lol as always the yield comes from the marketing budget subsidy and the suckers who are late to the party, If they time it right, it can suck up a lot of liquidity, especially the bull run these things can live way longer than they should as fewer people are withdrawing than depositing

Its going to be interesting to see how far this leverage play goes before it implodes and at what scale?

At its peak Luna was 40 billion, FTX was valued at 40 billion, if you factor in UST, Celsius and BlockFi thats easily 100 bn in paper wealth and leverage that was erased in a month

hh 1y ago

To be honest, I have little problem with these scams and rug pulls. They do the Lord's work in reallocating capital from the retarded and/or greedy to the smart.

When the smart scammers steal all that money, you can be 100% sure they won't invest it in meme coins or other rugpulls, but in the real economy, from Bitcoin to Lambos, to strip clubs and cocaine.

Someone who is the combination of stupid and greedy required to invest in such schemes has no business keeping any money in his pocket.

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Discussion

Low Information Voter 1y ago

The next normie you meet who hates bitcoiners and free speech might have been radicalised by scams like this.

Stupid people have rights, too. Even worse, properly motivated they are useful to those with power.

u32Luke 1y ago

Yup. Theft is theft no matter who does it and who is victimized by it. How about work on designing systems that make it harder to be a thief instead

u32Luke 1y ago

Maxis never miss an opportunity to be an embarrassment. The worst part of bitcoin

u32Luke 1y ago

Stupid take. Theft is always immoral.

Make it hard to be a thief without infringing on individual liberties. One day they're fleecing the noobs and the next day they're invading your home, demanding keys or they torture you. How confident are you in your opsec?