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Started By
Message
re: Crypto hedge fund Three Arrows Capital (3AC) now in liquidation
Posted on 6/30/22 at 6:47 pm to tenderfoot tigah
Posted on 6/30/22 at 6:47 pm to tenderfoot tigah
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This post was edited on 8/29/22 at 10:37 am
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Posted on 6/30/22 at 7:41 pm to TigerTatorTots
quote:
A very serious problem in the space is that people lump bitcoin/Ethereum in the "crypto" title when 99.9% of crypto is indeed bullshite, scams, worthless, tulips, ponzis, and many more terms. So when someone says "crypto is tulips", you average bitcoin person like myself this that person is an idiot but that person could be referencing the other 99% of the space.
Even this is a poor way of looking at it. The top ten coins hold 70% of the “crypto” wealth.
Posted on 6/30/22 at 8:06 pm to JayDeerTay84
Who would’ve thought Gamecoin devs would be trendsetters?
“CoinFlex is issuing a new coin to make up the $47 million”
Peak insanity must be near. These people are bringing the IOU scene from Dumb and Dumber to life.
“CoinFlex is issuing a new coin to make up the $47 million”
Peak insanity must be near. These people are bringing the IOU scene from Dumb and Dumber to life.
Posted on 7/1/22 at 6:23 am to JayDeerTay84
quote:
Because the very next sentence you said this:
The entire sentence:
I still think the big dogs have long-term investment value even though, imho, it destroys their intrinsic value. The problem with crypto is that unlike other bubble asset classes, you could literally create one out of thin air to pump and dump.
Use the entire context. Nothing inflammatory was stated.
quote:
But you said crypto. BTC is crypto.
I clearly segregated the classes. Also, BTC suffered from tulip-itis (for the 2nd time).
quote:
These type of comments suggest you are just shite posting.
No they don't. You're just overly emotional and send memetic responses out of some sort of crypto defense mechanism.
The irony is you then post that I don't understand what I'm talking about when I'm curious if you understand English fully.
quote:
People like you ONLY use "shitcoins" as your go to.
I referenced shitcoins because, as I stated, "unlike other bubble asset classes, you could literally create one out of thin air to pump and dump".
Did this occur? Yes or no?
Did people lose millions b/c of these shitcoin schemes? Yes or no?
quote:
Also, this liquidation has nothing to do with shitcoins.
I was responding to a post by slackster where he stated, "Banks, credit unions, and hedge funds have failed throughout their existence. I’m not knighting for crypto, but to act like it’s unique to that space is foolish."
Neither he nor I was talking about this specific liquidation. We were talking on a general level.
Posted on 7/1/22 at 6:25 am to JayDeerTay84
quote:
The top ten coins hold 70% of the “crypto” wealth.
The space has gotten so large that 30% has real money in it. This isn't back in even 2015 when the overall cap was significantly smaller.
Now you're dealing with a lot of area in the space with real money affecting lots of people. You don't get to hide behind that 70% anymore.
Posted on 7/1/22 at 6:55 am to SlowFlowPro
quote:
Now you're dealing with a lot of area in the space with real money affecting lots of people. You don't get to hide behind that 70% anymore.
Yes I can. What of the remaining 30% are actual shite-scam coins? Do you even know?
Do you complain equally when someone buys penny stocks?
I am just not sure why scams and illegal activity are this new thing invented with "crypto".
Once again, this hedge fund liquidation has absolutely NOTHING to do with shite coins.
Posted on 7/1/22 at 6:56 am to SlowFlowPro
quote:
I was responding to a post by slackster where he stated, "Banks, credit unions, and hedge funds have failed throughout their existence. I’m not knighting for crypto, but to act like it’s unique to that space is foolish."
Neither he nor I was talking about this specific liquidation. We were talking on a general level.
yea I know you aren't being specific because you wouldn't have a point then. Just make general statements you dont have to defend.
Posted on 7/1/22 at 7:00 am to SlowFlowPro
quote:
I referenced shitcoins because, as I stated, "unlike other bubble asset classes, you could literally create one out of thin air to pump and dump".
Did this occur? Yes or no?
Did people lose millions b/c of these shitcoin schemes? Yes or no?
Did you use this same logic when Madoff was busted? Billions were lost.
So much scam!
Let me guess, you think guns kill people too huh?
This post was edited on 7/1/22 at 7:05 am
Posted on 7/1/22 at 7:11 am to JayDeerTay84
quote:
I am just not sure why scams and illegal activity are this new thing invented with "crypto".
Strawman.
This was my very first sentence in this thread:
Crypto just became the latest tulip, it's just that they created 10,000 types of tulips within 18 months
The original tulip craze was in the 1600s. So nobody is saying or implying crypto invented anything in this space...on a scale of centuries.
This post was edited on 7/1/22 at 7:12 am
Posted on 7/1/22 at 7:13 am to SlowFlowPro
quote:
Strawman.
Says the guy who started off with one....
Posted on 7/1/22 at 7:15 am to JayDeerTay84
quote:
Did you use this same logic when Madoff was busted? Billions were lost.
That was a ponzi scheme. It was terrible but not comparable.
Shitcoins aren't the specific point. You're ignoring the very point out of your irrational defense. The point is that crypto became a bubble asset class. However, this is the first bubble asset class in human history that can literally create infinite assets out of nowhere. With tulips you had to grow tulips. With housing you had to build houses. With art you have to paint stuff. Crypto is a historically unique bubble asset b/c in additional traditional offerings (BTC, ETH, etc.), "you could literally create one out of thin air to pump and dump".
Posted on 7/1/22 at 7:15 am to JayDeerTay84
quote:
Says the guy who started off with one....
Define my straw man, then.
Posted on 7/1/22 at 7:24 am to SlowFlowPro
quote:
You're ignoring the very point out of your irrational defense.
So you care about strawman attacks but have no problems using an Ad Hominem?
quote:
However, this is the first bubble asset class in human history that can literally create infinite assets out of nowhere. With tulips you had to grow tulips. With housing you had to build houses. With art you have to paint stuff. Crypto is a historically unique bubble asset b/c in additional traditional offerings (BTC, ETH, etc.), "you could literally create one out of thin air to pump and dump".
Well its not out of "thin air" that would be magic. Somewhere, someone made a smart contract filled with some code.
Its probably about the same amount of work that people do when they send "bills" out to old people and say they owe them money and scam them like that.
Or the same work from all the facebook/instagram/social media add scams.
"Cyrpto" as you refer to it is a piece of technology. Its utterly useless unless people utilize it; for good or bad. Like a gun.
This post was edited on 7/1/22 at 7:26 am
Posted on 7/1/22 at 7:43 am to JayDeerTay84
quote:
So you care about strawman attacks but have no problems using an Ad Hominem
I didn't insult you. I called your argument irrational.
If you want to create a concept of anthropormorphization of arguments, then we need to go to the philosophy and rhetoric board.
quote:
Well its not out of "thin air" that would be magic. Somewhere, someone made a smart contract filled with some code.
That can be replicated essentially infinitely and immediately.
quote:
Its probably about the same amount of work that people do when they send "bills" out to old people and say they owe them money and scam them like that.
That's not a bubble. That's a scam.
Why do you keep referencing scams when this is a discussion about bubbles?
quote:
Or the same work from all the facebook/instagram/social media add scams.
Again, scams. Not bubbles.
quote:
"Cyrpto" as you refer to it is a piece of technology. Its utterly useless unless people utilize it; for good or bad. Like a gun.
Non sequitur
Posted on 7/1/22 at 7:49 am to SlowFlowPro
Guy, you realize "pump and dump" is a version of scam right?
This was the wording you first used.....
Yes, you opened talking about SCAMS!
I just realized I do not have time for you anymore.
This was the wording you first used.....
quote:
The problem with crypto is that unlike other bubble asset classes, you could literally create one out of thin air to pump and dump.
Yes, you opened talking about SCAMS!
quote:
18 U.S. Code Section 1343: This wire fraud statute criminalizes any fraud scheme that uses wire, radio, or television communications. If the Internet is used as part of a pump and dump scheme or if faxes are sent out to pump a stock, you can be charged with this offense.
I just realized I do not have time for you anymore.
This post was edited on 7/1/22 at 7:54 am
Posted on 7/1/22 at 7:53 am to JayDeerTay84
quote:
Guy, you realize "pump and dump" is a version of scam right?
That is secondary to the primary issue and point: bubble assets.
The entire point is that by being "tulips" the various cryptos were poised to see dramatic increase in price/perceived value. The biggest difference, again, is that never in human history have tulips been able to be created on such a mass scale so quickly.
This opens the avenue for various behaviors (like pump and dumps) to take advantage of the bubble asset status.
Leading up to the bubble popping on RE, there was lots of questionable behavior, too. That doesn't make the RE bubble not an issue of being a bubble, primarily.
Posted on 7/1/22 at 11:42 am to RobbBobb
Cryptostonks only go up!
Posted on 7/1/22 at 2:19 pm to Strannix
Voyager just shut down
Posted on 7/11/22 at 6:55 pm to glorymanutdtiger
Founders of Three Arrow Capitals are not cooperating and "whereabouts are unknown"
How much money do you think is left?
Ofiices are vacant with mail piling up under the door
quote:
Liquidators also visited the Three Arrows Capital headquarters in Singapore last month, where they were unable to find Davies and Zhu. As of Friday's filing, Teneo has been unable to locate the founders.
Teneo has requested to freeze the crypto hedge's assets and are also requesting a subpoena on Davies and Zhu, looking for information on company records, assets, and other accounts, CoinDesk reported.
The cryptocurrency hedge fund has the potential to empty its funds pre-liquidation, since cryptocurrencies are immediately transferable, Teneo's legal team said. An emergency court hearing regarding the case is scheduled for tomorrow morning.
How much money do you think is left?
Ofiices are vacant with mail piling up under the door
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