BitCoin: "The Most Dangerous Project We've Ever Seen"

Discussion in 'The Red Room' started by Scott Hamilton Robert E Ron Paul Lee, May 16, 2011.

  1. Tuckerfan

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  2. Tuckerfan

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  3. Tuckerfan

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  4. Tuckerfan

    Tuckerfan BMF

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  5. Tuckerfan

    Tuckerfan BMF

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    Peter Thiel Shreds $100s and Mocks the Unwashed Masses at Crypto Conference

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  6. We Are Borg

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  7. MikeH92467

    MikeH92467 RadioNinja

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    Peter Thiel thinks he's smarter than Warren Buffett. To which I say that over the last 70 years the investment desert has become littered with the bleaching bones of hotshots who thought they were smarter than Buffett. :corn:
    I think it's also fair to say that it's possible that Thiel is right that crypto is the next big thing and that Buffett's buy and hold forever great companies at good prices is also a good way to build wealth. :clyde:
  8. Tuckerfan

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  9. Tuckerfan

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    FEAE3FB6-1F87-48E8-BF27-7F38134B12A6.jpeg
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  10. matthunter

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  11. Tuckerfan

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  12. We Are Borg

    We Are Borg Republican Democrat

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    Anyone who's stupid enough to invest in crypto deserves anything and everything that happens as a result.

    Also, who the fuck would enter into a business arrangement with someone they've never met in person?

    JFC, I swear the internet has made us less intelligent as a species.
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  13. Bailey

    Bailey It's always Christmas Eve Super Moderator

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    A lot of companies over the last couple of years. There are ways of doing due diligence if you can't meet in person and seems like the problem is more that this dumbass didn't do any of them.
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  14. Tuckerfan

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  15. Tuckerfan

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  16. Tuckerfan

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  17. Ancalagon

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  18. Tuckerfan

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  20. Tuckerfan

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  21. Tuckerfan

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  22. Ten Lubak

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    https://fortune.com/2022/05/11/coinbase-bankruptcy-crypto-assets-safe-private-key-earnings-stock/

    Oh!

    Amazing, I did not know that. Happy I do now though
    Last edited: May 11, 2022
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  23. We Are Borg

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    In other words, further evidence that crypto is just one big Ponzi scheme.
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  24. Tuckerfan

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  25. Bailey

    Bailey It's always Christmas Eve Super Moderator

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    It's the same with all the big exchanges. Bitcoin literally can't handle the number of transfers required (and the more people are trying to transfer Bitcoin the more the fees go up) so exchanges literally just change the numbers in their own databases and then just do the actual blockchain stuff when people want to withdraw or send currency outside the exchange.

    For a "decentralized" currency, it's one of the most centralized there is when it comes to actual usage.
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  26. Tuckerfan

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  27. Tuckerfan

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    Anybody checked on Poodle to see if he's still with us, or if he's decided to end it all as his crypto stuff plummets?
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  28. MikeH92467

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    Investing legend Peter Lynch had a couple of thoughts that might be relevant. One was that when corporations have excess money they will find something on which to piss it away. He called it the "Bladder Theory of Management". He also warned that extravagant expenditures on things like dream headquarters were a possible sign of a company that had reached maturity and were going to seed. :chris:
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  29. Tuckerfan

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    Someone had a theory that dates to like the 30s, that when corporations start spending big bucks on fancy buildings (think the Chrysler Building) that an economic downturn is imminent. :corn:
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  30. MikeH92467

    MikeH92467 RadioNinja

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    Yeah, I don't remember if that's one of the cases Lynch cited in "One Up on Wall Street", but that's definitely what he was driving at.