They don’t want people to see that the reason this happened isn’t actually because of crypto but because they ran their business like how almost all banks/brokers/hedge funds currently do with real fucking stocks/assets. That’s literally what happened. These people treated crypto the same way the same way wallstreet treats stocks. The difference is, since there’s actually more transparency and irreproducibility with crypto coins you can’t just sell IOUs and make up a bunch of fakes without people finding out. So this all happened. A bunch of ppl realized what was happening and instigated a bank run. FTX couldn’t handle all the requests and couldn’t fake the assets they sold, like how wallstreet does, and they got royally fucked. A bunch of other rich ppl got fucked, but a bunch more and some of those same rich people still make ass loads of money doing this same shit with stocks. Those same rich people are also now running a campaign to get the rights to make and regulate their own crypto market and pointing fingers at the FTX thing saying this is why we need crypto regulations but in reality it’s so they can make the rules with crypto the same way they already do with the stock market. People might not like to hear it but the reality is that the capitalists have made the “real” assets market so fucked and corrupt that a system like crypto is actually safer. So they used this to smear more shit onto crypto to hide the fact that they are doing far worse shit to “real” assets every day.
I want you to all consider the fact that, if stocks were like crypto coins, almost every hedge fund and broker that operates on the US market would have gone bankrupt many times over. If overnight, stock became as transparent and illiquid as crypto the stock market would crash instantly. Like literally, instantly. There would be no comparison to the level it would crash. It would make the great depression crash look like a joke. The economy would be gone. It might even spark a revolution. Every broker, every bank, every hedge fund, would instantly find themselves unable to continue making up assets. Shit would break and break hard. That’s how much fuckery and fake assets they have floating around. The whole god damn system is built on fraud. The. Whole. System. Is. Fraud.
This is also why there is such a massive hate campaign against NFTs and why you see these stories of some silicon valley “crypto bro” pissing shit tons of money down the drain on a jpeg. The actual important part of an NFT is the “Non fungible” part. Not the “token” part. It basically would give the same level of transparency and irreproducibility that crypto has. These NFTs could be applied to real documents/assets/stocks it would break how those things are able to be manipulated by wallstreet. They all know this. So they have their little poster boy idiots paraded around the news media with their stupid ass monkey jpegs or whatever to make it all look stupid as fuck so they never catch on and get used for anything else. Add all the dipshit crypto bros, that don’t really understand how impactful any of this shit is, jump on the band wagon of “hur hur look at monkey jpeg” and it’s completely understandable why NFTs look stupid as fuck to the average person. Or any person that simply hasn’t been informed about them.
This all being said I want to end this with a general statement that I, to the bottom of my angry, hate filled soul, despise all of this shit. I hate the stock market, I hate the fact we live in a society where shit like crypto and NFTs are literally the best chance we have at fixing/brining down the corruption that is the stock market. I hate that I have to know all this, and read/research about it. That I have to figure out how to live within it. The stock market shouldn’t be a thing. Stocks should only be used by the workers to show their stake in the company, etc. Crypto shouldn’t be a thing. NFTs ,at most, would be in the initial stages of being considered a way to digitize documents of ownership like a “pink slip” for a vehicle or proof of ownership of a real stock. That’s it. No fucking 401k bullshit. No fucking day traders, brokers, fucking hedge funds. No “retirement accounts” or any of that bullshit. None of it should exist. It’s all a fucking oligarchy scam for rich fucks to more easily steal from the working class. That’s it. Rant over. I won’t even go into all the connections this guy had to politicians and shit. That post would make this one look like a “TLRD.” If anyone actually reads this far I hope some of this made actual sense and also… sorry. lol
I also want to apologize if this seems overly hate filled and/or preachy. I got woken up at 2am by a storm that I know is a result of climate change. Which I know is a direct result of rampant capitalism so my rage mode is in full swing as I lay here listening to the death throes of our ecosystem.
It is stupid. It’s absolutely fucking stupid. Lol. But the way in which they are maintained, tracked, and traded, is actually pretty smart and it prevents the exact shit that’s broken the stock market. So I give credit where credit is due.
nah its not smart, its basically world of Warcraft money, except instead of playing a fun video game, you just a let a little machine goo brrr all night and burn more electricity than Denmark. The entire business is based on anti-semetic gold standard and federal reserve conspiracy theories… The idea that jews are using the federal reserve to steal all our money so you should buy gold bars and bury them in your yard, is very old conspiracy and now those nutcases have bitcoin, and why do they use it? because it allows them to bypass the federal reserve, that’s it. That’s literally all it is, its hard to use, easy to steal, hard to regulate, easy for criminals to use to buy fentanyl and kiddie porn, allows the CIA to funnel drug money to its gladio death squads etc etc etc. None of that however makes it good or safe or better than regular money.
They don’t want people to see that the reason this happened isn’t actually because of crypto but because they ran their business like how almost all banks/brokers/hedge funds currently do with real fucking stocks/assets. That’s literally what happened. These people treated crypto the same way the same way wallstreet treats stocks. The difference is, since there’s actually more transparency and irreproducibility with crypto coins you can’t just sell IOUs and make up a bunch of fakes without people finding out. So this all happened. A bunch of ppl realized what was happening and instigated a bank run. FTX couldn’t handle all the requests and couldn’t fake the assets they sold, like how wallstreet does, and they got royally fucked. A bunch of other rich ppl got fucked, but a bunch more and some of those same rich people still make ass loads of money doing this same shit with stocks. Those same rich people are also now running a campaign to get the rights to make and regulate their own crypto market and pointing fingers at the FTX thing saying this is why we need crypto regulations but in reality it’s so they can make the rules with crypto the same way they already do with the stock market. People might not like to hear it but the reality is that the capitalists have made the “real” assets market so fucked and corrupt that a system like crypto is actually safer. So they used this to smear more shit onto crypto to hide the fact that they are doing far worse shit to “real” assets every day.
I want you to all consider the fact that, if stocks were like crypto coins, almost every hedge fund and broker that operates on the US market would have gone bankrupt many times over. If overnight, stock became as transparent and illiquid as crypto the stock market would crash instantly. Like literally, instantly. There would be no comparison to the level it would crash. It would make the great depression crash look like a joke. The economy would be gone. It might even spark a revolution. Every broker, every bank, every hedge fund, would instantly find themselves unable to continue making up assets. Shit would break and break hard. That’s how much fuckery and fake assets they have floating around. The whole god damn system is built on fraud. The. Whole. System. Is. Fraud.
This is also why there is such a massive hate campaign against NFTs and why you see these stories of some silicon valley “crypto bro” pissing shit tons of money down the drain on a jpeg. The actual important part of an NFT is the “Non fungible” part. Not the “token” part. It basically would give the same level of transparency and irreproducibility that crypto has. These NFTs could be applied to real documents/assets/stocks it would break how those things are able to be manipulated by wallstreet. They all know this. So they have their little poster boy idiots paraded around the news media with their stupid ass monkey jpegs or whatever to make it all look stupid as fuck so they never catch on and get used for anything else. Add all the dipshit crypto bros, that don’t really understand how impactful any of this shit is, jump on the band wagon of “hur hur look at monkey jpeg” and it’s completely understandable why NFTs look stupid as fuck to the average person. Or any person that simply hasn’t been informed about them.
This all being said I want to end this with a general statement that I, to the bottom of my angry, hate filled soul, despise all of this shit. I hate the stock market, I hate the fact we live in a society where shit like crypto and NFTs are literally the best chance we have at fixing/brining down the corruption that is the stock market. I hate that I have to know all this, and read/research about it. That I have to figure out how to live within it. The stock market shouldn’t be a thing. Stocks should only be used by the workers to show their stake in the company, etc. Crypto shouldn’t be a thing. NFTs ,at most, would be in the initial stages of being considered a way to digitize documents of ownership like a “pink slip” for a vehicle or proof of ownership of a real stock. That’s it. No fucking 401k bullshit. No fucking day traders, brokers, fucking hedge funds. No “retirement accounts” or any of that bullshit. None of it should exist. It’s all a fucking oligarchy scam for rich fucks to more easily steal from the working class. That’s it. Rant over. I won’t even go into all the connections this guy had to politicians and shit. That post would make this one look like a “TLRD.” If anyone actually reads this far I hope some of this made actual sense and also… sorry. lol
I also want to apologize if this seems overly hate filled and/or preachy. I got woken up at 2am by a storm that I know is a result of climate change. Which I know is a direct result of rampant capitalism so my rage mode is in full swing as I lay here listening to the death throes of our ecosystem.
hey… Hey! (pokes with stick) HEEEEY!!! crypto iz stupid
It is stupid. It’s absolutely fucking stupid. Lol. But the way in which they are maintained, tracked, and traded, is actually pretty smart and it prevents the exact shit that’s broken the stock market. So I give credit where credit is due.
nah its not smart, its basically world of Warcraft money, except instead of playing a fun video game, you just a let a little machine goo brrr all night and burn more electricity than Denmark. The entire business is based on anti-semetic gold standard and federal reserve conspiracy theories… The idea that jews are using the federal reserve to steal all our money so you should buy gold bars and bury them in your yard, is very old conspiracy and now those nutcases have bitcoin, and why do they use it? because it allows them to bypass the federal reserve, that’s it. That’s literally all it is, its hard to use, easy to steal, hard to regulate, easy for criminals to use to buy fentanyl and kiddie porn, allows the CIA to funnel drug money to its gladio death squads etc etc etc. None of that however makes it good or safe or better than regular money.