COINBASE for Crypto has come

wektor

Well-known member
that's the classic "pump and dump" of penny stock firms. boiler room operations that buy thousands of shares in a stock that literally sells for pennies, then burn up the phone lines trying to push the great deal to unsuspecting low-info targets. once the stock they bought at, say, 5 cents a share goes up to 10-15 cents a share due to their aggressive sales efforts, they sell (dump) their original purchase. the stock them returns to 5 cents per share and investors lose their money. it's illegal in stock trading, but legit venture capital firms often do a variation on the model.
so we're essentially reliving the wolf of wall street?
 

Leo

Well-known member
pretty much. there are people who feel all of Wall Street works varying degrees of that model.
 

IdleRich

IdleRich
Nah, there are loads of things they do that involve all kinds of securities and strategies, many of which never involve going near the public or selling anything to them.
 

wild greens

Well-known member
Just because a small subsection of the concept are running some shitcoin shenanigans it doesn't mean that it's all wolf of Wall st.

I'm not the biggest fan of it all but you do have to conscious of the fact that it is here to stay, I think. Entry level involvement pretty easy too
 

Leo

Well-known member
yeah, when I said "pretty much", I meant in relation to penny stock firms, to crypto.
 

pattycakes_

Well-known member
This hasn't gone so well, lads. I sold my flat for £350k on Sunday, which I had no right to do - as I am renting - and put the lot on Dogecoin, expecting to become a zillionaire yesterday. The price actually fell - apparently 'Dogeday' means 'dump all your Doge day' - so I now have an angry couple expecting to sign the deeds and move into a flat I've never owned, while I face 25 years in debtors' prison.

What can I say...the dog did us dirty.


hope you didn't sell yet
 

pattycakes_

Well-known member
E0gX8X1VoAYJW3o


The hype is supposed to build over the week up to his appearance on SNL this weekend. If he says anything DOGE related, expect madness.
 

pattycakes_

Well-known member
Think of all the crime networks/dealers who've been selling drugs and whatever else on the darknet from before 1btc was worth even 1000 bucks. They probably have thousands of them to play with.
 

wild greens

Well-known member
There is so much money in the drug markets and it was the wild west for years, there is a huge amount of grey market money in all of this

It's a massively disruptive creation and it seems hilarious to me that what it is basically doing is legitimising drug money and drug markets that have washed all this dough so easily over the years with the blockchain

The likes of a Morgan Stanley "investing" in bitcoin is probably no different to HSBC washing drug money etc.

Been reading a lot about recent hack to the main dark web listing site/onion and its still lawless out there despite this proposed legitimacy and mainstreaming of the culture
 

droid

Beast of Burden
This guy sold a shit ton of bitcoin in advance of the tether fraud collapse.

There are millions of Bobs, all around the world. Many of them are leveraged up to their eyeballs in Tether on unbanked exchanges. Thousands more are buying into the trade every day. And almost all of them are going to lose their money when it all comes crashing down.

This would be bad enough in ordinary times. But during a pandemic, it’s catastrophic. Huge amounts of value for millions people will be wiped out — individuals, families, and the most vulnerable among us will be ruined at the worst possible time. This isn’t a game: the human pain will be immense. And the longer the fraud goes on, the more that pain will grow.

I wrote this to stop it.
.
 

polystyle

Well-known member
And tonight is Elon's "Saturday Night Live" right ?

Main point of these weeks seems to be this was the time when Crypto moved into main stream.
20th century receding now more quickly in rear view mirror.
 
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