The job description didn't mention crypto or anything and sounded pretty good with a good salary range.
Like 3 minutes after hitting submit I remembered what coinbase was.
I feel dirty now.
If they actually contact me for an interview I'm saying no.
Do the interview to waste their time, THEN tell them no
Okay, I like it. This is my new plan.
I kinda hope I do now. I want to just spew some absolutely meaningless buzzword bullshit about how I want to leverage smart contracts to enable web3 metaverse adoption to synergize the global zeitgeist's transition from fiat currency.
The job description didn't mention crypto or anything and sounded pretty good with a good salary range.
Like 3 minutes after hitting submit I remembered what coinbase was.
I feel dirty now.
If they actually contact me for an interview I'm saying no.
Do the interview to waste their time, THEN tell them no
Okay, I like it. This is my new plan.
I kinda hope I do now. I want to just spew some absolutely meaningless buzzword bullshit about how I want to leverage smart contracts to enable web3 metaverse adoption to synergize the global zeitgeist's transition from fiat currency.
Print out a business card with a random ape on one side and a QR code on the back that links to a 404 on OpenSea
The job description didn't mention crypto or anything and sounded pretty good with a good salary range.
Like 3 minutes after hitting submit I remembered what coinbase was.
I feel dirty now.
If they actually contact me for an interview I'm saying no.
Do the interview to waste their time, THEN tell them no
Okay, I like it. This is my new plan.
I kinda hope I do now. I want to just spew some absolutely meaningless buzzword bullshit about how I want to leverage smart contracts to enable web3 metaverse adoption to synergize the global zeitgeist's transition from fiat currency.
Are there any video games you're into?
Consider setting the tone of the interview by playing during it.
It shows confidence and demonstrate dominance.
redx on
They moistly come out at night, moistly.
+6
BlackDragon480Bluster KerfuffleMaster of Windy ImportRegistered Userregular
reminds me of all the shit about how sam bankman frieds parents were ethicists so clearly they could never do anything wrong
lmao ok
If you want you feel like punching SBF and his parents even more than now, I recommend the Behind the Bastards deep dive on the FTX collapse and Sam specifically:
The job description didn't mention crypto or anything and sounded pretty good with a good salary range.
Like 3 minutes after hitting submit I remembered what coinbase was.
I feel dirty now.
If they actually contact me for an interview I'm saying no.
My friend worked as a fraud investigator for a now collapsed crypto exchange. He was doing honest work cracking down on child porn/terrorism linked accounts as well as dealing with all kinds of scams and fraud everyday.
Obviously the job security wasn't great, but I don't think he regretted the experience in terms of a fraud prevention professional.
The job description didn't mention crypto or anything and sounded pretty good with a good salary range.
Like 3 minutes after hitting submit I remembered what coinbase was.
I feel dirty now.
If they actually contact me for an interview I'm saying no.
My friend worked as a fraud investigator for a now collapsed crypto exchange. He was doing honest work cracking down on child porn/terrorism linked accounts as well as dealing with all kinds of scams and fraud everyday.
Obviously the job security wasn't great, but I don't think he regretted the experience in terms of a fraud prevention professional.
The fraud is coming from inside the house!
+6
SolyspPreviously Kane Red RobeRegistered Userregular
The job description didn't mention crypto or anything and sounded pretty good with a good salary range.
Like 3 minutes after hitting submit I remembered what coinbase was.
I feel dirty now.
If they actually contact me for an interview I'm saying no.
My friend worked as a fraud investigator for a now collapsed crypto exchange. He was doing honest work cracking down on child porn/terrorism linked accounts as well as dealing with all kinds of scams and fraud everyday.
Obviously the job security wasn't great, but I don't think he regretted the experience in terms of a fraud prevention professional.
The fraud is coming from inside the house!
It does seem like a rather target rich environment for fraud prevention. Probably feels a bit Sisyphean though.
Upon analysis of 73,257 NFT collections, the authors found that 69,795 have a market cap of zero Ether (ETH), the second most-popular cryptocurrency behind Bitcoin. In practical terms, that means 95 percent of NFTs wouldn’t fetch a penny today — a spectacular crash for assets that reached a trading volume of $17 billion amid a frenzied bull market in 2021. The study estimates that some 23 million investors own these tokens of no practical use or value.
Upon analysis of 73,257 NFT collections, the authors found that 69,795 have a market cap of zero Ether (ETH), the second most-popular cryptocurrency behind Bitcoin. In practical terms, that means 95 percent of NFTs wouldn’t fetch a penny today — a spectacular crash for assets that reached a trading volume of $17 billion amid a frenzied bull market in 2021. The study estimates that some 23 million investors own these tokens of no practical use or value.
The job description didn't mention crypto or anything and sounded pretty good with a good salary range.
Like 3 minutes after hitting submit I remembered what coinbase was.
I feel dirty now.
If they actually contact me for an interview I'm saying no.
My friend worked as a fraud investigator for a now collapsed crypto exchange. He was doing honest work cracking down on child porn/terrorism linked accounts as well as dealing with all kinds of scams and fraud everyday.
Obviously the job security wasn't great, but I don't think he regretted the experience in terms of a fraud prevention professional.
Honest question: Did they collapse because he did his job too well?
The job description didn't mention crypto or anything and sounded pretty good with a good salary range.
Like 3 minutes after hitting submit I remembered what coinbase was.
I feel dirty now.
If they actually contact me for an interview I'm saying no.
My friend worked as a fraud investigator for a now collapsed crypto exchange. He was doing honest work cracking down on child porn/terrorism linked accounts as well as dealing with all kinds of scams and fraud everyday.
Obviously the job security wasn't great, but I don't think he regretted the experience in terms of a fraud prevention professional.
The fraud is coming from inside the house!
It does seem like a rather target rich environment for fraud prevention. Probably feels a bit Sisyphean though.
It was fascinating swapping war stories and also showed just how much of a myth "decentralization" is. They were very much the central authority of everything on their exchange and handing over customer info to law enforcement in the same ways a bank does.
You have your romance scams, identity theft, ransomware , drug, porn, terrorism accounts, homeless guys being coached by organized gangs to register money laundering accounts on video screenings with fake IDs, constant shenanigans.
Grachev “had absolutely no business to be on that panel,” Cristian Gil, co-founder of market-making giant GSR, posted days later on X. “It’s insulting to [GSR], [crypto exchange OKX] and [Wintermute] to be in the same room as [DWF].” Evgeny Gaevoy, the CEO of huge market maker Wintermute, then clicked “Like” on that post.
“I never thought that you could be THAT scared of us,” Grachev replied. “Yeah, we are stronger than you in terms of tech, trading, BD and everything. … If I were you – I would be also crying all the time.”
To another Grachev post apparently directed at the Wintermute executive – “we are eating your market share like a birthday cake and you can do nothing” – Gaevoy replied with a “lol,” and “go ‘invest’ more, we are trembling in your presence.”
A U.S. appeals court on Thursday upheld a judge's decision to jail former cryptocurrency billionaire Sam Bankman-Fried ahead of his Oct. 3 trial on fraud charges stemming from the November 2022 collapse of his now-bankrupt FTX exchange.
In a written decision, a three-judge panel of the 2nd U.S. Circuit Court of Appeals in Manhattan said it agreed with U.S. District Judge Lewis Kaplan's finding that Bankman-Fried had likely attempted to tamper with two witnesses.
This included his sharing the personal writings of Caroline Ellison, the former chief executive of his Alameda Research hedge fund, with a New York Times reporter.
The three judges on Thursday said they were unpersuaded by Bankman-Fried's argument that Kaplan failed to credit the defendant for exercising his First Amendment constitutional right to speak with the press and try to restore his reputation.
They wrote that Kaplan "correctly determined that when a person engages in speech to commit a criminal offense such as witness tampering, that speech falls outside the zone of constitutional protection."
So, I wasn't sure if I should post this here, since it's about adjacent financial stupidity, but it eventually does overlap directly with NFT Blockchain nonsense, so here you go. Another Dan Olsen deep dive into stupid culty finance stuff.
We actually have a GME thread, but it's been over a year since it's been active. Not sure if posting it there would count as thread necromancy.
That being said, great googamooga that whole video was a hell of a ride. I didn't realize people were still ride or die on that topic.
As always, there's no one who can mislead someone quite like themselves.
I checked one of the BBBY subreddits and most of the posts were celebratory. Mostly about how they “won” and are getting their money any day now. I assume the grifters will keep this going for a bit longer. About how the “good” billionaires are just waiting until the last minute to make them all rich.
any day now... surely the complete lack of volatility or trade volume is a sign it's ready to move.
It's all part of the "bull thesis". I haven't watched Dan's video so not sure how much he goes into it. But the thesis says that every thing that has happened with the stock is part of a perfectly orchestrated plan by the "good" billionaires they idolize to trap short hedge funds, up to and including the cancelation of bbbyq shares. The amazon killer these billionaires are building with the corpses of the meme stocks will "soon" be unveiled, their non-existent bbby shares will be converted into new shares of this new company. And because they own all the shares they will be able to name their price when the shorts have to cover. I believe the latter is what the call the "infinity pool". You saw lots of pictures of people lighting cigars and talk about popping expensive bottles of alcohol when it was announced, I think Friday, that bbbyq stock was cancelled.
any day now... surely the complete lack of volatility or trade volume is a sign it's ready to move.
It's all part of the "bull thesis". I haven't watched Dan's video so not sure how much he goes into it. But the thesis says that every thing that has happened with the stock is part of a perfectly orchestrated plan by the "good" billionaires they idolize to trap short hedge funds, up to and including the cancelation of bbbyq shares. The amazon killer these billionaires are building with the corpses of the meme stocks will "soon" be unveiled, their non-existent bbby shares will be converted into new shares of this new company. And because they own all the shares they will be able to name their price when the shorts have to cover. I believe the latter is what the call the "infinity pool". You saw lots of pictures of people lighting cigars and talk about popping expensive bottles of alcohol when it was announced, I think Friday, that bbbyq stock was cancelled.
The final part of the video covers it, right up to 29th September.
Getting into the meat of it and what it's all about, I guess the closer fit would have been the conspiracy thread (so I did toss it in there).
But it's kind of all the same 'financial illiteracy+desperation' thing. If there's any substantial difference between this particular brand of meme stock cult stuff and the NFT/crypto/metaverse crowd, it's that the latter can (but often don't) stay in reality while maintaining nonsense insane expectations for how things will go, while people still holding onto GME and waiting for some economy-crashing short need to believe certain unrealities and maintain the insane expectations.
any day now... surely the complete lack of volatility or trade volume is a sign it's ready to move.
It's all part of the "bull thesis". I haven't watched Dan's video so not sure how much he goes into it. But the thesis says that every thing that has happened with the stock is part of a perfectly orchestrated plan by the "good" billionaires they idolize to trap short hedge funds, up to and including the cancelation of bbbyq shares. The amazon killer these billionaires are building with the corpses of the meme stocks will "soon" be unveiled, their non-existent bbby shares will be converted into new shares of this new company. And because they own all the shares they will be able to name their price when the shorts have to cover. I believe the latter is what the call the "infinity pool". You saw lots of pictures of people lighting cigars and talk about popping expensive bottles of alcohol when it was announced, I think Friday, that bbbyq stock was cancelled.
The final part of the video covers it, right up to 29th September.
pfft, I remember USEnet.
September doesn't end.
+4
TetraNitroCubaneNot Angry...Just VERY Disappointed...Registered Userregular
any day now... surely the complete lack of volatility or trade volume is a sign it's ready to move.
It's all part of the "bull thesis". I haven't watched Dan's video so not sure how much he goes into it. But the thesis says that every thing that has happened with the stock is part of a perfectly orchestrated plan by the "good" billionaires they idolize to trap short hedge funds, up to and including the cancelation of bbbyq shares. The amazon killer these billionaires are building with the corpses of the meme stocks will "soon" be unveiled, their non-existent bbby shares will be converted into new shares of this new company. And because they own all the shares they will be able to name their price when the shorts have to cover. I believe the latter is what the call the "infinity pool". You saw lots of pictures of people lighting cigars and talk about popping expensive bottles of alcohol when it was announced, I think Friday, that bbbyq stock was cancelled.
The final part of the video covers it, right up to 29th September.
any day now... surely the complete lack of volatility or trade volume is a sign it's ready to move.
It's all part of the "bull thesis". I haven't watched Dan's video so not sure how much he goes into it. But the thesis says that every thing that has happened with the stock is part of a perfectly orchestrated plan by the "good" billionaires they idolize to trap short hedge funds, up to and including the cancelation of bbbyq shares. The amazon killer these billionaires are building with the corpses of the meme stocks will "soon" be unveiled, their non-existent bbby shares will be converted into new shares of this new company. And because they own all the shares they will be able to name their price when the shorts have to cover. I believe the latter is what the call the "infinity pool". You saw lots of pictures of people lighting cigars and talk about popping expensive bottles of alcohol when it was announced, I think Friday, that bbbyq stock was cancelled.
The final part of the video covers it, right up to 29th September.
pfft, I remember USEnet.
September doesn't end.
What?! I just woke up Green Day!!
It's something unpredictable, but in the end that's life.
I watched that 2+ hour video, and hoo boy is it a voyage. I'm starting to think that maybe the internet and (especially) social media was perhaps a mistake. It just makes it very easy and convenient to take advantage of people who really don't know what they are doing, and in large numbers. Like the one group that offered "death spiral financing" to Bed, Bath and Beyond in the expectation that not only would them tanking the stock price not dissuade the people duped into holding the stock, but that those people would thank them for the opportunity to buy at a cheaper price. And they were right! They literally took advantage of people in an astoundingly cynical way and got thanked for it. Unreal.
It's kind of a weird twist on the whole "the market can stay irrational longer than you can stay solvent thing."
No matter how eagerly irrational they are.
The hilarious (and sad) part about it is, for all their irrationality - for all their crazy, massively-out-there, detached-from-reality, fever-dream, decoding-children's-books irrational shit - at the end of the day it's extremely simple to predict what this crowd will do. They'll buy, and then they'll not sell ever.
Which makes them shockingly easy to exploit. As has been demonstrated.
TetraNitroCubane on
+10
daveNYCWhy universe hate Waspinator?Registered Userregular
At least with crypto and NFTs you could say they were new and weird and awesome things could come of them. The underlying facts made it clear that awesome things would not come of them, but that thin surface layer of new and weird meant that you could try and sell people on them. But Bed Bath and Beyond was just a regular old store that filed regular old bankruptcy. These are all boring, well known things. Debt holders get paid off first, and equity gets whatever might be left over; and their filing said they had $4B in assets with $5B in debt, so that's pretty easy math.
They really need to start teaching some basic finance in high school. None of this is complicated, and getting some basic Excel skills is never a bad thing.
Shut up, Mr. Burton! You were not brought upon this world to get it!
They really need to start teaching some basic finance in high school. None of this is complicated, and getting some basic Excel skills is never a bad thing.
Exactly. Take away an economics course and teach a finance course instead. And with that, teach the history of finance. At the end of the day, the system actually works. What doesn't work is when you try to outsmart the system or perpetuate the belief that all the odds are are stacked against you, so here try this snake oil instead.
For example, Warren Buffett is not a prophet, oracle, sage, or anything beyond just a really smart guy. He got rich because of two things. One, he started with some wealth and was able to invest. Two, he was very smart and figured out an opportunity. He's rich because of cigar butts. So, the story goes, if you were really poor and couldn't afford a nice cigar, sometimes you could find a discarded cigar that a rich person hadn't quite puffed the last puff out of. Don't think too hard about it. But the idea is that you can take that cigar butt, light it and get a few last premium puffs out of it.
What Buffett figured out long before the days of computers and easy access to information was how to read a balance sheet. He'd then devour the balance sheets of public companies with cheap stock prices until he found a company whose stock value was LESS than the book value of their actual assets. Buy the stock, take control of the company, liquidate the assets, take the cash and reinvest. Do that over and over again, and you start to build up a nice pile of money. You then take that money and re-invest in back into profitable companies with long-term growth.
Boom, you're a millionaire.
Even better, he discovered the insurance business. People give you the money upfront, and then you pay it back later or hopefully not at all. If you're smart about your risk, you have a cash positive business where you can invest the float, make even more money, and essentially generate cash from thin air. And what do you do with all that cash. You re-invest in back into profitable companies with long-term growth.
Boom, you're a billionaire.
You then have piles of cash, which if managed intelligently (and Buffet is incredibly intelligent), you have essentially zero risk. You just keep stacking more and more piles of money until is doesn't mean anything to you anymore.
Even in the early days of Amazon. You know Bezos secret was? He figured out that not only could he sell books online, but he could also sell books at full-price AND get someone's cash instantly, while buying books from the wholesaler with net 30- or 60-day terms. He got the cash up front, reinvested in his business, then paid his bills later. From day 1, Amazon was a cash positive business. And what do we do with cash. We reinvest. And what happens when smart people invest in long-term growth. They make even more cash.
And when your no cash turns into a small pile of cash, you reach out to investors and tell them what you've done. You then show them that if you had a large pile of cash, you could turn that into a gigantic pile of cash, with proceeds going to anyone who would help put their cash on the pile. And then a small pile becomes a large pile which becomes a gigantic pile, which leads to market advantages that create a pile of cash so big even God takes a break from feeding the sparrows and clothing the lilies long enough to think, "Somebody probably needs a good smiting over this."
That's it. There's no secret cult. No 4D chess. No evil machinations of a ghost in the machine.
It's just math, plus common sense, plus the ability to identify long-term value.
And unfortunately, all these digital crypto schemes involve none of the above, save whatever math needs to be done to actually make the computer do computer things.
Posts
Okay, I like it. This is my new plan.
I kinda hope I do now. I want to just spew some absolutely meaningless buzzword bullshit about how I want to leverage smart contracts to enable web3 metaverse adoption to synergize the global zeitgeist's transition from fiat currency.
Print out a business card with a random ape on one side and a QR code on the back that links to a 404 on OpenSea
Malicious compliance isn’t just to help strikers!
lmao ok
Are there any video games you're into?
Consider setting the tone of the interview by playing during it.
It shows confidence and demonstrate dominance.
If you want you feel like punching SBF and his parents even more than now, I recommend the Behind the Bastards deep dive on the FTX collapse and Sam specifically:
And a followup from last month on some of the more recent bullahit:
~ Buckaroo Banzai
My friend worked as a fraud investigator for a now collapsed crypto exchange. He was doing honest work cracking down on child porn/terrorism linked accounts as well as dealing with all kinds of scams and fraud everyday.
Obviously the job security wasn't great, but I don't think he regretted the experience in terms of a fraud prevention professional.
The fraud is coming from inside the house!
It does seem like a rather target rich environment for fraud prevention. Probably feels a bit Sisyphean though.
https://www.rollingstone.com/culture/culture-news/nfts-worthless-researchers-find-1234828767/
Well, that dumb thing is finally over.
Honest question: Did they collapse because he did his job too well?
It was fascinating swapping war stories and also showed just how much of a myth "decentralization" is. They were very much the central authority of everything on their exchange and handing over customer info to law enforcement in the same ways a bank does.
You have your romance scams, identity theft, ransomware , drug, porn, terrorism accounts, homeless guys being coached by organized gangs to register money laundering accounts on video screenings with fake IDs, constant shenanigans.
Make sure to prove to them how much of their time you're wasting or you'll never get your coins.
pleasepaypreacher.net
Yes but not in public. Real CEOs maintain a public face of decorum.
I regret to inform you both of those are real CEOs.
Real CEOs crashed a major bank over Slack chat.
That being said, great googamooga that whole video was a hell of a ride. I didn't realize people were still ride or die on that topic.
As always, there's no one who can mislead someone quite like themselves.
I checked one of the BBBY subreddits and most of the posts were celebratory. Mostly about how they “won” and are getting their money any day now. I assume the grifters will keep this going for a bit longer. About how the “good” billionaires are just waiting until the last minute to make them all rich.
any day now... surely the complete lack of volatility or trade volume is a sign it's ready to move.
It's all part of the "bull thesis". I haven't watched Dan's video so not sure how much he goes into it. But the thesis says that every thing that has happened with the stock is part of a perfectly orchestrated plan by the "good" billionaires they idolize to trap short hedge funds, up to and including the cancelation of bbbyq shares. The amazon killer these billionaires are building with the corpses of the meme stocks will "soon" be unveiled, their non-existent bbby shares will be converted into new shares of this new company. And because they own all the shares they will be able to name their price when the shorts have to cover. I believe the latter is what the call the "infinity pool". You saw lots of pictures of people lighting cigars and talk about popping expensive bottles of alcohol when it was announced, I think Friday, that bbbyq stock was cancelled.
But it's kind of all the same 'financial illiteracy+desperation' thing. If there's any substantial difference between this particular brand of meme stock cult stuff and the NFT/crypto/metaverse crowd, it's that the latter can (but often don't) stay in reality while maintaining nonsense insane expectations for how things will go, while people still holding onto GME and waiting for some economy-crashing short need to believe certain unrealities and maintain the insane expectations.
pfft, I remember USEnet.
No matter how eagerly irrational they are.
The hilarious (and sad) part about it is, for all their irrationality - for all their crazy, massively-out-there, detached-from-reality, fever-dream, decoding-children's-books irrational shit - at the end of the day it's extremely simple to predict what this crowd will do. They'll buy, and then they'll not sell ever.
Which makes them shockingly easy to exploit. As has been demonstrated.
They really need to start teaching some basic finance in high school. None of this is complicated, and getting some basic Excel skills is never a bad thing.
A fundamental misunderstanding of the game with layers of magical thinking stacked on top.
Exactly. Take away an economics course and teach a finance course instead. And with that, teach the history of finance. At the end of the day, the system actually works. What doesn't work is when you try to outsmart the system or perpetuate the belief that all the odds are are stacked against you, so here try this snake oil instead.
For example, Warren Buffett is not a prophet, oracle, sage, or anything beyond just a really smart guy. He got rich because of two things. One, he started with some wealth and was able to invest. Two, he was very smart and figured out an opportunity. He's rich because of cigar butts. So, the story goes, if you were really poor and couldn't afford a nice cigar, sometimes you could find a discarded cigar that a rich person hadn't quite puffed the last puff out of. Don't think too hard about it. But the idea is that you can take that cigar butt, light it and get a few last premium puffs out of it.
What Buffett figured out long before the days of computers and easy access to information was how to read a balance sheet. He'd then devour the balance sheets of public companies with cheap stock prices until he found a company whose stock value was LESS than the book value of their actual assets. Buy the stock, take control of the company, liquidate the assets, take the cash and reinvest. Do that over and over again, and you start to build up a nice pile of money. You then take that money and re-invest in back into profitable companies with long-term growth.
Boom, you're a millionaire.
Even better, he discovered the insurance business. People give you the money upfront, and then you pay it back later or hopefully not at all. If you're smart about your risk, you have a cash positive business where you can invest the float, make even more money, and essentially generate cash from thin air. And what do you do with all that cash. You re-invest in back into profitable companies with long-term growth.
Boom, you're a billionaire.
You then have piles of cash, which if managed intelligently (and Buffet is incredibly intelligent), you have essentially zero risk. You just keep stacking more and more piles of money until is doesn't mean anything to you anymore.
Even in the early days of Amazon. You know Bezos secret was? He figured out that not only could he sell books online, but he could also sell books at full-price AND get someone's cash instantly, while buying books from the wholesaler with net 30- or 60-day terms. He got the cash up front, reinvested in his business, then paid his bills later. From day 1, Amazon was a cash positive business. And what do we do with cash. We reinvest. And what happens when smart people invest in long-term growth. They make even more cash.
And when your no cash turns into a small pile of cash, you reach out to investors and tell them what you've done. You then show them that if you had a large pile of cash, you could turn that into a gigantic pile of cash, with proceeds going to anyone who would help put their cash on the pile. And then a small pile becomes a large pile which becomes a gigantic pile, which leads to market advantages that create a pile of cash so big even God takes a break from feeding the sparrows and clothing the lilies long enough to think, "Somebody probably needs a good smiting over this."
That's it. There's no secret cult. No 4D chess. No evil machinations of a ghost in the machine.
It's just math, plus common sense, plus the ability to identify long-term value.
And unfortunately, all these digital crypto schemes involve none of the above, save whatever math needs to be done to actually make the computer do computer things.