Walrus' Bitcoin Thread

**SlimTrae** · 05-13-2021 06:47 AM

So the gov followed same old route? can't be em -join em and take it over, damn...

**palmerq** · 11-12-2022 07:28 PM

Buy the dip!

Source:trust me bro.

**Kirkland Laing** · 11-13-2022 10:27 PM

I stayed out of this thread at the time because I knew I'd just get really annoyed but seeing as Walrus is no longer here and after recent events I thought I'd have a look and it turns out our crypto fans were discussing a Ponzi scheme and deciding it was a good investment. Marvellous.

To be fair to crypto recent events might make you think it's all a Ponzi scheme but that's not true. Some of it is Ponzi schemes, some of it is affinity fraud, some of it is pyramid schemes, some of it is pump and dump schemes, some is middlemen skimming a hundred and one percent off the top, some of it is just straight up criminality.

And don't forget the tax evasion and money laundering schemes either. Celebrate all the diversity in the crypto sphere.

**NoSavingByTheBell** · 11-15-2022 03:59 AM

Originally Posted by Kirkland Laing

I stayed out of this thread at the time because I knew I'd just get really annoyed but seeing as Walrus is no longer here and after recent events I thought I'd have a look and it turns out our crypto fans were discussing a Ponzi scheme and deciding it was a good investment. Marvellous.

To be fair to crypto recent events might make you think it's all a Ponzi scheme but that's not true. Some of it is Ponzi schemes, some of it is affinity fraud, some of it is pyramid schemes, some of it is pump and dump schemes, some is middlemen skimming a hundred and one percent off the top, some of it is just straight up criminality.

And don't forget the tax evasion and money laundering schemes either. Celebrate all the diversity in the crypto sphere.

Walrus is as "here" as he ever was. Wachoo smokin

**Kirkland Laing** · 11-15-2022 07:01 AM

Warren Buffet, the world's richest investor and his partner Charlie Munger weigh in on crypto:

https://twitter.com/Stephen_Geiger/s...02421129416706

Buffet bet every single person working in the hedge fund industry a million dollars that he could invest his money in a standard index fund for ten years and they could invest their million in any hedge fund for a decade and the one who earned the greatest return would pay the other one a million. Only one guy took him up on his offer which tells you everything you need to know about the hedge fund industry right there and also how you should invest your money. You can read about it if you're interested.

The fund that both Warren and Kirkland agree you should invest your money is a Vanguard S&P 500 index fund. You work out which one. Put it in there and forget about it. Let it appreciate for decades.

This came out in 1980. It's the second biggest selling album of all time. If you'd put $10 000 in the Vanguard fund the day this came out you'd be a millionaire now. Invest your pennies and have a nice retirement. And read up about the guy who started Vanguard. He set up the world's first socialist investment fund and it's now the biggest in the world. If he'd charged people even a small fee he'd have made many billions.

**Kirkland Laing** · 11-17-2022 06:45 AM

https://twitter.com/CNBC/status/1592507175032655872

98 year old Charlie Munger still going strong. That's down to the adrenochrome.

**Master** · 12-01-2022 11:56 AM

Sam Bankman-Fried, the former boss of collapsed cryptocurrency exchange FTX, has denied committing fraud.

Making his first public appearance since the collapse, the man once hailed as the 'King of Crypto' told The New York Times he had had a "bad month" and had almost no money left.

FTX fell apart last month, having once been valued at $32bn (£26.5bn).

Many investors have not been able to withdraw their funds from the now bankrupt global exchange.

Mr Bankman-Fried, 30, also said his lawyers had advised him not to speak publicly, but he had ignored them.

He denied having moved any personal money out of FTX himself - saying he now has "close to nothing."

Speaking from The Bahamas, he said he had one credit card left which had around $100,000 of debt on it.

In the interview he said he had not deliberately misled investors, adding: "I didn't ever try to commit fraud."

However, asked several times about details of money movements between FTX and other entities, including the trading firm he owned, Alameda Research, he at times seemed sketchy in detail.

He also said the company had indulged in "greenwashing" where firms engage in environmental projects for publicity.

Mr Bankman-Fried was once viewed as a young version of legendary US investor Warren Buffet, and as recently as late October had a net worth estimated at more than $15bn.

However, he says, he underestimated the sheer amount of cash needed to cover FTX customers' withdrawals - leading to a run on the exchange.

Many crypto firms have struggled with the downturn in the broader economy and amid concerns about the viability of crypto currencies more generally.

FTX declared bankruptcy soon after. Mr Bankman-Fried stepped down as CEO on 11 November.

According to a court filing earlier this month, FTX currently owes its 50 largest creditors almost $3.1bn.

Mr Bankman-Fried had become well known in Washington DC as a political donor, supposedly supporting pandemic prevention and improved crypto regulation.

But in his talk with Times reporter Andrew Ross Sorkin, Mr Bankman-Fried confessed much of his Washington DC work had been PR "masquerading as do-gooderism."

Mr Bankman-Fried said for now he was not concerned about potential criminal or civil liability.

"There's a time and a place for me to think about myself and my own future," he said after starting and stopping several times. "I don't think this is it."

When asked if he had been truthful in his responses, Mr Bankman-Fried said he was as truthful as he knowledgeably could be. "I don't know of times when I lied," he said.

Though he did not provide evidence to support it, SBF said he believed FTX US was solvent and could in fact pay back American investors.

https://www.bbc.co.uk/news/technology-63817522

**NoSavingByTheBell** · 12-01-2022 07:48 PM

#Walrus would disagree maybe, but .....

**TIC** · 12-02-2022 01:45 AM

three crypto billionaires have died in the last couple of months, vyacheslav taran, tiantian kullander, nikolai mushegian. theese three are not the only ones of recent times. the ftx scam is just a way to get more regulations on crypto, it was needed as the big bad boogeyman. this ties in nicely with the upcoming cbdc's. use cash as much as possible