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Fiery
Sword of Fire


Registered: 12/24/12
Posts: 36,574
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This crypto stuff is CRAZY- Perhaps even criminal
#27774523 - 05/12/22 07:29 PM (1 year, 8 months ago) |
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If you don't know what's going on, it's pure mayhem and bloodshed in the crypto world. Major ones like BItcoin are down more than 50% from highs, and even one called LUNA is down 100% to catastrophic losses. I even heard mention of people harming themselves because they lost it all.
THIS IS MADNESS!
Someone needs to be held accountable for this. This has GONE TOO FAR!
I mean everyone knows stocks and crypto are risky... but THIS SEEMS CRIMINAL!
I get it- blame the investor right? they knew it was a risk? I don't think so in this case.
There is going to be a witchhunt I'm sure for whoever is behind this LUNA stunt.. but how can they catch them?
I just saw some good people lose a lot of money over this and it pains me, and is an injustice I feel.
And I don't feel it's OK in this case to blame the investor for taking a risk when they knew they could lose it, this LUNA thing seems to go much deeper than just "a risk that investors took"
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Crazy_Horse
I’m Rick James, bitch!


Registered: 08/15/16
Posts: 13,283
Loc: Hampsterdam
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: Fiery] 5
#27774538 - 05/12/22 07:37 PM (1 year, 8 months ago) |
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Anonuser77
Stranger
Registered: 01/17/22
Posts: 106
Last seen: 5 months, 5 days
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: Crazy_Horse]
#27774564 - 05/12/22 07:51 PM (1 year, 8 months ago) |
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Dont have diamond hands? It sort of is your fault for holding, or not having a good advisor.
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Fiery
Sword of Fire


Registered: 12/24/12
Posts: 36,574
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: Anonuser77]
#27774573 - 05/12/22 07:54 PM (1 year, 8 months ago) |
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Quote:
Anonuser77 said: It sort of is your fault for holding, or not having a good advisor.
I guarantee you if some major stock did this , this fast, there would be some type of criminal investigation going on with all the government trading regulations.
Something really fishy happened here I just don'[t know what.
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christopera
Stranger


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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: Fiery] 1
#27774579 - 05/12/22 07:57 PM (1 year, 8 months ago) |
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I've been telling people for years that crypto isn't an investment. The popcorn is going to be tasty when a ton of people lose their money. Classic crypto.
-------------------- Enjoy the process of your search without succumbing to the pressure of the result. A Dorito is pizza, change my mind. Bank and Union with The Shroomery at the Zuul on The internet - now with %'s and things I’m sorry it had to be me.
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Hartford
Lawful Good



Registered: 11/27/19
Posts: 1,106
Loc: Tennessee
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: Fiery] 2
#27774580 - 05/12/22 07:57 PM (1 year, 8 months ago) |
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Play stupid games, win stupid prizes.
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Fiery
Sword of Fire


Registered: 12/24/12
Posts: 36,574
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: Hartford]
#27774587 - 05/12/22 07:59 PM (1 year, 8 months ago) |
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I'm still waiting on someone who can see how something criminal most likely happened here.
I DO blame the investors partly, don't get me wrong.. But certainly on such a massive and rapid drop to zero? Something happened.
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Hartford
Lawful Good



Registered: 11/27/19
Posts: 1,106
Loc: Tennessee
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: Fiery] 1
#27774610 - 05/12/22 08:14 PM (1 year, 8 months ago) |
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Maybe someone convinced Musk and Gates that crypto processing was too energy intensive and they sold, for the good of the land.
Are they wrong?
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twighead
mͯó



Registered: 08/27/08
Posts: 29,548
Loc: Glenn Gould's Fuck Windmill
Last seen: 6 hours, 34 minutes
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: Hartford] 2
#27774640 - 05/12/22 08:34 PM (1 year, 8 months ago) |
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To me it look like... graph go down, cheap cheap time to buy!
Cheap cheap chirp chirp go the econobirds
Then they all flock again, and create a big volume.
"it's time to eat!" they decide, and they sell, 
and graph goes down again.
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Fiery
Sword of Fire


Registered: 12/24/12
Posts: 36,574
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: twighead]
#27774663 - 05/12/22 08:45 PM (1 year, 8 months ago) |
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WOW!
Syncro in the FInance and money forum posted this.
CRAZY!
Quote:
syncro said: This thread talks about the theory of the attack, the attacker getting away with some $8+ million, causing ~$50 billion to be lost from the market I think I heard.
https://twitter.com/OnChainWizard/status/1524123935570382851
Makes for a good read and shows just how vulnerable crypto is with big players able to pull stuff like this off..
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Anonuser77
Stranger
Registered: 01/17/22
Posts: 106
Last seen: 5 months, 5 days
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: Fiery]
#27774724 - 05/12/22 09:16 PM (1 year, 8 months ago) |
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Quote:
christopera said: I've been telling people for years that crypto isn't an investment. The popcorn is going to be tasty when a ton of people lose their money. Classic crypto.
Quote:
christopera said: I've been telling people for years that crypto isn't an investment. The popcorn is going to be tasty when a ton of people lose their money. Classic crypto.
Quote:
Fiery said: I'm still waiting on someone who can see how something criminal most likely happened here.
I DO blame the investors partly, don't get me wrong.. But certainly on such a massive and rapid drop to zero? Something happened.
Dude what is criminal about there being winners and losers. Go get an advisor who's been making money, the money you're losing. Like the one I have.
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Fiery
Sword of Fire


Registered: 12/24/12
Posts: 36,574
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: Anonuser77] 2
#27774766 - 05/12/22 09:47 PM (1 year, 8 months ago) |
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PLOT TWIST.... It's been Elon Mush all along, just fucking with the world for giggles because he got bored on the factory floor.
AND because he wanted to pocket a cool quick fitty bill on the down low.
You gotta watch out for those plot twist mah fukkas with cheese.
PS- like how I called him Elon MUSH? 
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Anonuser77
Stranger
Registered: 01/17/22
Posts: 106
Last seen: 5 months, 5 days
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: Fiery]
#27774852 - 05/12/22 11:16 PM (1 year, 8 months ago) |
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Im literally making money right now.
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koods
Ribbit



Registered: 05/26/11
Posts: 106,045
Loc: Maryland/DC Burbs
Last seen: 16 minutes, 28 seconds
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: twighead]
#27774876 - 05/12/22 11:55 PM (1 year, 8 months ago) |
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Quote:
twighead said:

To me it look like... graph go down, cheap cheap time to buy!
Cheap cheap chirp chirp go the econobirds
Then they all flock again, and create a big volume.
"it's time to eat!" they decide, and they sell, 
and graph goes down again. 
Idk at some point this bursts.
--------------------
NotSheekle said “if I believed she was 16 I would become unattracted to her”
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nooneman


Registered: 04/24/09
Posts: 14,555
Loc: Utah
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: Fiery]
#27774915 - 05/13/22 12:57 AM (1 year, 8 months ago) |
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I'm almost tempted to buy some luna
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Northerner
splelling chceker


Registered: 07/29/12
Posts: 14,137
Loc: FNQ
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: nooneman] 2
#27774926 - 05/13/22 01:12 AM (1 year, 8 months ago) |
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People seem to have forgotten that crypto by definition is not an "investment" but it is true speculation. The only thing people are buying when they get crypto is the option to sell it. They speculate that they will be able to sell it for more. That is it. There is no utilitarian use, there is no dividend, there is nothing that makes it worth anything except other people buying it.
Sure speculative investing is a thing, but that is done around real things, real companies, real commodities, real resources. But that's not what crypto is. It's not just based around billions of watts being burned making numbers that are unique.
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The nearest we ever come to knowing truth is when we are witness to paradox.
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koods
Ribbit



Registered: 05/26/11
Posts: 106,045
Loc: Maryland/DC Burbs
Last seen: 16 minutes, 28 seconds
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: nooneman]
#27774931 - 05/13/22 01:16 AM (1 year, 8 months ago) |
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Quote:
nooneman said: I'm almost tempted to buy some luna

I think this Luna thing is going to bring the hammer down. I can’t see how the government can let this kind of activity continue. Start treating crypto like a security. They may not be able to regulate the trading, but they can certainly go after the people who make fraudulent and illegal coins.
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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The Blind Ass
Bodhi


Registered: 08/16/16
Posts: 26,657
Loc: The Primordial Mind
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: Northerner] 1
#27774933 - 05/13/22 01:18 AM (1 year, 8 months ago) |
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At least when the dollar goes kaput you can use it to wipe your ass, start a fire, ceiling insulation, etc etc…
But there’s not much you can do with a cryptocurrency after its shat the bed.
-------------------- Give me Liberty caps -or- give me Death caps
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koods
Ribbit



Registered: 05/26/11
Posts: 106,045
Loc: Maryland/DC Burbs
Last seen: 16 minutes, 28 seconds
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: The Blind Ass]
#27774934 - 05/13/22 01:21 AM (1 year, 8 months ago) |
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The dollar is trading at a 20 year high
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: Northerner]
#27774945 - 05/13/22 01:38 AM (1 year, 8 months ago) |
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Quote:
Northerner said: People seem to have forgotten that crypto by definition is not an "investment" but it is true speculation. The only thing people are buying when they get crypto is the option to sell it. They speculate that they will be able to sell it for more. That is it. There is no utilitarian use, there is no dividend, there is nothing that makes it worth anything except other people buying it.
Sure speculative investing is a thing, but that is done around real things, real companies, real commodities, real resources. But that's not what crypto is. It's not just based around billions of watts being burned making numbers that are unique.
There are cryptos that pay dividends though off them using your investment for loans.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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