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Onlinesyncro
Registered: 01/14/15
Posts: 2,697
Last seen: 1 minute, 20 seconds
Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: Fiery]
    #27775222 - 05/13/22 07:36 AM (1 year, 8 months ago)

Algorithmic stablecoin was vulnerable to being killed, and smart, wealthy people included didn't see it coming. This was a unique kind of asset.

Maybe stablecoins should be regulated, what is allowed to be called stablecoin, etc., but then there is regulatory capture for special interests as we see rampant, where for example by fiat, winners and losers are chosen, why bitcoin was created, the too big to fail.


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InvisibleLotKid
Never.Trust.A.Prankster
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Registered: 01/07/17
Posts: 8,169
Loc: Shakedown St.
Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: syncro] * 3
    #27775235 - 05/13/22 07:41 AM (1 year, 8 months ago)

Lets peg something that's supposed to be stable to something highly volatile....


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InvisibleTulipslave
Homo sapiens sapiens, lol

Registered: 07/25/17
Posts: 11,109
Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: Crazy_Horse]
    #27775477 - 05/13/22 11:34 AM (1 year, 8 months ago)

Quote:

Crazy_Horse said:





:yesnod:

Or the internet company craze of the mid-late 90s and early 00s!


Quote:

Fiery said:
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.



I get it- blame the investor right? they knew it was a risk? I don't think so in this case.








The only person/people to blame is/are the investors., yes.

People need to be accountable and responsible for their own actions, especially in a situation like this. Recurring social-cultural themes.


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Invisiblebudmanman
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Registered: 02/07/07
Posts: 17,974
Loc: PNW
Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: Tulipslave]
    #27775568 - 05/13/22 12:42 PM (1 year, 8 months ago)

The current financial system rewards though who are irresponsible. Oh the banks were irresponsible? shit out and print out more money and give it to those banks.

Oh the governments being irresponsible? Shit out and print out more money.

Oh a bank wants to loan someone money? Shit out and print out more money right now so they can.

Something like that, at some point has to give.


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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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Offlinechristopera
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Registered: 10/13/17
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
    #27775579 - 05/13/22 12:49 PM (1 year, 8 months ago)

And still more stable than crypto.


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Enjoy the process of your search without succumbing to the pressure of the result.

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Invisiblebudmanman
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: christopera]
    #27775598 - 05/13/22 01:03 PM (1 year, 8 months ago)

Tell that to people in Venezuela.

Or Lebanon.

Or any other country where their currency spontaneously lost 90%+ of its value.


--------------------
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.


Edited by budmanman (05/13/22 01:04 PM)


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Offlinechristopera
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman] * 1
    #27775762 - 05/13/22 03:40 PM (1 year, 8 months ago)

Why would I do that? In Venezuela the US deliberately tanked their economy. In Lebanon they have decades worth of crisis.

Crypto has nothing to do with either and certainly isn't a force worth mentioning unless you are somehow invested in believing it is.


--------------------
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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Invisiblebudmanman
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Registered: 02/07/07
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: christopera]
    #27775825 - 05/13/22 04:33 PM (1 year, 8 months ago)

That's right the usa is indestructible for all eternity  lol


--------------------
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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Offlinechristopera
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Registered: 10/13/17
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
    #27775844 - 05/13/22 04:43 PM (1 year, 8 months ago)

Is that what you gained from my comment?


--------------------
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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InvisibleTulipslave
Homo sapiens sapiens, lol

Registered: 07/25/17
Posts: 11,109
Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
    #27775923 - 05/13/22 05:43 PM (1 year, 8 months ago)

Quote:

budmanman said:
The current financial system rewards though who are irresponsible. Oh the banks were irresponsible? shit out and print out more money and give it to those banks.

Oh the governments being irresponsible? Shit out and print out more money.

Oh a bank wants to loan someone money? Shit out and print out more money right now so they can.

Something like that, at some point has to give.






Not so much individuals, as in living, breathing persons, but rather those entities with status of personhood, i.e. corporations.  Banks and nations are inclded in this category.

Some individual persons are rewarded, but they are often in the wealthy classes or know how to work the systems at play.

There is little actual "reward" for being financially responsible as a non-wealthy person.


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Invisiblebudmanman
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: Tulipslave]
    #27775948 - 05/13/22 06:02 PM (1 year, 8 months ago)

The irresponsible thing for people to do was buy a house with 0 down just a few years ago. Now anyone who didn't and tried saving up and being responsible before taking on a huge responsibility is being punished.


--------------------
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.


Edited by budmanman (05/13/22 06:03 PM)


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InvisibleTulipslave
Homo sapiens sapiens, lol

Registered: 07/25/17
Posts: 11,109
Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
    #27776121 - 05/13/22 09:02 PM (1 year, 8 months ago)

Quote:

budmanman said:
The irresponsible thing for people to do was buy a house with 0 down just a few years ago. Now anyone who didn't and tried saving up and being responsible before taking on a huge responsibility is being punished.






I agree, but those people were only able to do that because banks/lenders enabled and encouraged them to do so.


Additionally, not all people were even eligible for those types of loans and agreements.


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Invisiblebudmanman
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Registered: 02/07/07
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: Tulipslave]
    #27776128 - 05/13/22 09:06 PM (1 year, 8 months ago)

Being eligible for a 0 down home loan 3 to 6 years ago was easier than renting an apartment in a city ghetto today.


--------------------
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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InvisibleTulipslave
Homo sapiens sapiens, lol

Registered: 07/25/17
Posts: 11,109
Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
    #27776250 - 05/13/22 10:59 PM (1 year, 8 months ago)

Quote:

budmanman said:
Being eligible for a 0 down home loan 3 to 6 years ago was easier than renting an apartment in a city ghetto today.





You don't seem to get it. Not all people were even elligible for those loans or agreements.


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Invisiblebudmanman
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: Tulipslave]
    #27776295 - 05/13/22 11:47 PM (1 year, 8 months ago)

Those people are losers and paved a path of life long loser'ness.


--------------------
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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InvisibleTulipslave
Homo sapiens sapiens, lol

Registered: 07/25/17
Posts: 11,109
Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman] * 1
    #27776540 - 05/14/22 06:37 AM (1 year, 8 months ago)

Quote:

budmanman said:
Those people are losers and paved a path of life long loser'ness.






Thanks for reconfirming your holier than thou attitude.

Hopefully people in money matters will see how much of a scumbag you are.


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