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Posted (edited)
  On 11/13/2022 at 4:35 AM, aristocrat said:

Ftx ceo was one of the largest dem donors fyi 

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I don’t understand why this is relevant to basically anything other than the fact that crypto has always been a big ponzi scheme. 
 

His partner was one of the largest GOP donors, but so what?

Edited by ChiGoose
Posted
  On 11/13/2022 at 4:35 AM, aristocrat said:

Ftx ceo was one of the largest dem donors fyi 

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No shir. Got any more breaking news?

 

The best part is when you let them make it about Repubs vs Dems and not Rich vs Poor. Don't know which one you are? Good boy.

Posted
  On 11/13/2022 at 5:17 AM, ChiGoose said:


I don’t understand why this is relevant to basically anything other than the fact that crypto has always been a big ponzi scheme. 
 

His partner was one of the largest GOP donors, but so what?

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The relevance is debunking this myth that followers regurgitate; that only R is the party of rich and D is not. 
 

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Posted
  On 11/13/2022 at 5:17 AM, ChiGoose said:


I don’t understand why this is relevant to basically anything other than the fact that crypto has always been a big ponzi scheme. 
 

His partner was one of the largest GOP donors, but so what?

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Defi is the future. FTX is (was) a centralized exchange that controlled all investor assets and f-ed around (and found out). Decentralized exchanges take the middle man out of the equation. Banks, brokers and other centralized equivalents will no longer be needed once defi takes over. It's the best and most transparent financial system the world has ever seen. Be your own bank, but be careful. We're still in the gold rush and there are many bandits out there!

Posted
  On 11/14/2022 at 12:09 AM, Gene Frenkle said:

 

Defi is the future. FTX is (was) a centralized exchange that controlled all investor assets and f-ed around (and found out). Decentralized exchanges take the middle man out of the equation. Banks, brokers and other centralized equivalents will no longer be needed once defi takes over. It's the best and most transparent financial system the world has ever seen. Be your own bank, but be careful. We're still in the gold rush and there are many bandits out there!

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Respectfully, I’m not sure I could disagree more. 
 

Unregulated markets almost always devolve into scams. We can argue about the appropriate level and types of regulations on markets, but markets with no oversight end up just preying on people who don’t realize they are being conned. 
 

20 years from now, we will look at crypto the same way we currently look at Beanie Babies. 

Posted
  On 11/14/2022 at 12:22 AM, ChiGoose said:


Respectfully, I’m not sure I could disagree more. 
 

Unregulated markets almost always devolve into scams. We can argue about the appropriate level and types of regulations on markets, but markets with no oversight end up just preying on people who don’t realize they are being conned. 
 

20 years from now, we will look at crypto the same way we currently look at Beanie Babies. 

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Respectfully, while we are both talking about crypto, the most meaningful part is about the exchanges. In a defi system, you are the only one who can access your funds. You are literally your own bank. Nobody can speculate with your funds.

 

This FTX collapse could never happen on defi. They were literally betting their investors money with 170% leverage! It's what your broker does. It's what pension funds do. It's what market makers do. It's what banks do. It's what leads to 1929...1987, 2000, 2008, inflated markets and inflation today. Fractional reserve banking and its derivatives are a huge efing ponzi scheme.

  On 11/14/2022 at 12:33 AM, Over 29 years of fanhood said:

Yeah agree vehemently. Our family does well but I know we aren’t in the club

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At least you know it. Spread the word.

Posted

 

 

A recent exchange between Feinstein and a journalist from Business Insider.

 

From the way it sounded, the 89-year-old Senator was so out of sorts that an aide had to step in and correct her multiple times:

 

 

 

 

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