FTX

[mathystuff]

his lawyer hates him

 

[kent_island_sailor]

The problem is that anything on a blockchain- Ethereum chain or whatever blockchain- is permanent. It's actually the opposite of easy to hide. As soon as the FBI got some computer nerds that knew about blockchain and Bitcoin they were able to roll up all kinds of fools who thought that the Silk Road was Anonymous and that their Bitcoin meant they were untouchable. Once a coin is created on the Chain you can just follow it around and see who it gets moved to. It's ludicrous. It's actually probably easier to hide dodgy bags of cash. Using an nft to launder money? Anybody who transfers or sells or does anything with that nft will permanently have their hands on it

You would have to be in full-on hacker mode to make sure nothing connected back to your real life existence. It would be a large pain and make it very hard to spend AND makes you look like a full-on criminal money launderer when you finally do get caught. Actually I guess you ARE one at that point

 

[giegs]

Traceability isn't quite so clear cut with some of the more experimental chains being developed, but they all rely on having a ton of legitimate transaction volume to obscure activity in netting pools. None of that is relevant with FTX though. The digital forensics work that was going on within hours of the blowup was an impressive demonstration of just how easy it can be to piece things together.

And of course, there's always this:

 

[Voyageur]

U.S.A. dollars are backed by the “full faith and credit” of the U.S. government. Crypto is backed by fairy dust and bro dreams.

ok, some guy or group named satoshi nakamoto, created something from nothing. a bunch of early adopters jumped in and probably made a lot of crypto coins. a bunch of other people followed. the early adopters probably cashed out. today we wonder why.
I have one more question. is Ye really an NFT? if he is, how would you sell it?

 

[Olsonist]

I have one more question. is Ye really an NFT? if he is, how would you sell it?

JizzKid, our resident arbiter of all things Black, will be along shortly to call you a racist for calling Ye a token, fungible or otherwise?

 

[Clove Hitch]

ok, some guy or group named satoshi nakamoto, created something from nothing. a bunch of early adopters jumped in and probably made a lot of crypto coins. a bunch of other people followed. the early adopters probably cashed out. today we wonder why.
I have one more question. is Ye really an NFT? if he is, how would you sell it?

I'm glad you asked. Your monthly subscription to get in on my boat's crypto includes a free nft which you can mint for whatever value you think is appropriate. My main sheet trimmer has set the value of his at $5,000 but he is holding on to it right now and hasn't tried to sell it.

$95 a month is the entry level. That will get you 10 KEel Qoins and 20 Knot dollar$. That basic subscription will guarantee a 4% increase in Knot Dollar$ monthly. If you want your Keel Qoin balance to increase you have to go to the Platinum level but then you are looking at 5% increase monthly on KEel Qoins AND Knot dollar$. Either subscription will get you a free nft

Remember they're not dollars; they're they're Knot dollar$ !

 

[silent bob]

Does the Bahamas have a Club Fed? Maybe Scam Bankrupt-Fraud might like it in a Federal Pound Me In The Ass Prison?!

 

[Clove Hitch]

Does the Bahamas have a Club Fed? Maybe Scam Bankrupt-Fraud might like it in a Federal Pound Me In The Ass Prison?!

I DMed him a couple of days ago, one crypto bro to another, and told him that the extradition laws in the Maldives are much more suited to his situation than the Bahamas

 

[SloopJonB]

Every market crash we hear the same thing. "I owe more in taxes than I ended up salvaging from that investment"

This happened in the DotCom crash - Folks bought their inflated options, which have a nasty "implied gain" in them for taxes, and if they didn't cash a portion out immediately to pay the taxes, would be HAMMERED and begging for payment plans the next April 15th.

One senior finance guy I know wound up owing $6million, with an M, and his stock, while both worthless, didn't cover 10% of that. Stock dropped 90% in just about 9 months. Think of the mind-fuck if you think you're worth $20m, and end up owing say $2-3m to the feds?

Buy High and Sell Low seems to be the standard market froth problem. What's the adage, you know the markets at a peak when joe-blow sells everything and invests?

In '29 Joe Kennedy famously said he realized it was time to get out of the market when his shoe shine boy gave him a stock tip.

 

[SloopJonB]

it's sort of like the stock market casino, only you could lose all your money faster.

Only parts of the stock market are a "casino". All the bullshit paper like derivatives, futures contract options, shorts & longs etc. etc. are indeed nothing but a crap game but investing in stocks the way it was intended to be used is not gambling.

See Warren Buffet.

 

[SloopJonB]

U.S.A. dollars are backed by the entire U.S. economy Crypto is backed by fairy dust and bro dreams.

Clarified

 

[Pertinacious Tom]

Now you'd think that startup CEOs would have a gun (hi Tom!) in their desk drawer so that when they hand out you the options they can say I want the money now or your brains are going to be splattered on the option.

When considering the crypto exchange scammer/TeamD lead donor collapse, as with every other issue, it's important to remember that I sometimes say bad things about TeamD gun bans and confiscation programs, so thanks for doing your part to remind people every day!

 

[Olsonist]

Sam Bankman-Fried’s parents will not teach at Stanford Law next year

Neither Professor Fried nor Professor Bankman will be teaching classes at Stanford Law next year. Fried's decision, she claims has “nothing to do” with controversies surrounding the collapse of their son’s cryptocurrency exchange

stanforddaily.com

 

[Olsonist]

SBF gets nicked.

 

[Keith]

 

[silent bob]

Does the Bahamas have a Club Fed? Maybe Scam Bankrupt-Fraud might like it in a Federal Pound Me In The Ass Prison?!

I DMed him a couple of days ago, one crypto bro to another, and told him that the extradition laws in the Maldives are much more suited to his situation than the Bahamas

Well, Scam Bankrupt Fraud was arrested in The Bahamas, today. Sounds like he will be extradited to the USA in the next few days!

FTX founder Sam Bankman-Fried arrested in the Bahamas after U.S. files criminal charges

Sam Bankman-Fried's arrest is the first concrete move by regulators to hold individuals accountable for the multi-billion dollar implosion of FTX last month.

www.cnbc.com

 

[Pertinacious Tom]

Well, Scam Bankrupt Fraud was arrested in The Bahamas, today. Sounds like he will be extradited to the USA in the next few days!

Soon, mon.

 

[silent bob]

I wonder if he’s going to wear his wrinkled tee-shirt and shorts to court?!

 

[Olsonist]

The Parents in the Middle of FTX’s Collapse

The FTX founder Sam Bankman-Fried’s mother and father, who teach at Stanford Law School, are under scrutiny for their connections to their son’s crypto business.

www.nytimes.com

Maybe that explains this.

Sam Bankman-Fried’s parents will not teach at Stanford Law next year

Neither Professor Fried nor Professor Bankman will be teaching classes at Stanford Law next year. Fried's decision, she claims has “nothing to do” with controversies surrounding the collapse of their son’s cryptocurrency exchange

stanforddaily.com

 

[hobie1616]

The Parents in the Middle of FTX’s Collapse

The FTX founder Sam Bankman-Fried’s mother and father, who teach at Stanford Law School, are under scrutiny for their connections to their son’s crypto business.

www.nytimes.com

Maybe that explains this.

Sam Bankman-Fried’s parents will not teach at Stanford Law next year

Neither Professor Fried nor Professor Bankman will be teaching classes at Stanford Law next year. Fried's decision, she claims has “nothing to do” with controversies surrounding the collapse of their son’s cryptocurrency exchange

stanforddaily.com

You can always tell a Stanford man, but not much.