Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
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Guest, it's time once again for the massively important and exciting FoH Asshat Tournament!
Go here and give us your nominations!Who's been the biggest Asshat in the last year? Give us your worst ones!
Aldarion
Egg Nazi
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As far as I've read, you claim capital gains and losses on crypto more or less the same as stocks. I don't have crypto but thats what the internet tells me.
LiquidDeath
Magnus Deadlift the Fucktiger
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How do you realize the gain/loss? Wouldn't you have to cash out your position, negating the loophole of taking capitol losses now and then letting the coins appreciate again?
Lambourne
Ahn'Qiraj Raider
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He doesn't even know enough to get the terms right. If anything it'd be a pump & dump, not a pyramid scheme which is an entirely different kind of scam. It really is true what they say about fools and their money because now that guy's lawyer is making money off that fool too.
Jysin
Ahn'Qiraj Raider
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Crypto Traders Turn Against Each Other in a Collapsing Market
With crypto prices tumbling precipitously, traders have begun increasingly turning against one another to eke out ever-elusive profits.
www.bloomberg.com
- With profits scarce, attacks on trading positions can pay off
- One trader gets liquidated, another gets a liquidation fee
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Arden
Blackwing Lair Raider
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That guy's lawyer is presumably working on a contingency fee and is probably hoping for a fast settlement.
In the case of crypto, a pyramid scheme is pretty close to the long term version of a pump and dump. Plus, I'm sure they took a look at the case law and realized they had a much higher chance of success filing a civil suit claiming pyramid scheme rather than pump and dump. Plenty of successful suits against pyramid schemes, probably not so many against "pump and dumps"
Sanrith Descartes
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Doubtful. The guy is most likely a Dem-backed operative or a liberal hoping to keep up the pressure on Musk to not buy Twitter. This has zero to actually do with Doge.
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Arden
Blackwing Lair Raider
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Yes, of course, Occam's razor and all that.
Not sure if you're joking, but I'll assume you are since this is a frivolous lawsuit that will have zero impact on anything Musk does. Musk himself will spend zero time on this. One or two of his lawyers (or more likely a legal assistant) will draft a motion to dismiss and it will almost certainly be granted.
Sanrith Descartes
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Not joking at all. While, yes this is frivolous, it is in my opinion a part of a larger campaign that has been going after Musk since his Twitter announcement.
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Arden
Blackwing Lair Raider
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Well, ok... I guess it could be part of some grand conspiracy rather than just a couple of dudes trying to get easy money.
You know Musk gets sued on a daily basis for shit like this right? And he has been for years- long before the recent political stuff. Same with Zuckerberg, and Kalanick, and Dorsey. These suits are a dime a dozen and 99.9% of the time they are wholly without merit and filed in the hope that some judge will be dumb enough to let the case proceed beyond an outright dismissal so that it becomes a pain in the ass enough that they might get a settlement offer.
Do you have any evidence that this particular suit is any different from those, or is it just a "gut feeling?"
Sanrith Descartes
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Arden
Blackwing Lair Raider
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Sure he does. It's the settlement they are interested in, the asking price is just a number. Pick one out of the sky, it doesn't matter. A lawsuit for more than that crossed my desk last week.
Sanrith Descartes
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Arden
Blackwing Lair Raider
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This was inevitable. 2023. Expect UBI/stimmy checks to be used to onboard
This is great news. This will transition millions and millions of new people into the digital currency market. UBI/Stimmy checks would only increase the value of BTC and other coins by inflating the value of the CBDC. Unless you think they will outlaw BTC, I don't see how you can view this as anything other than good news.
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OU Ariakas
Diet Dr. Pepper Enjoyer
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This is terrible news and gives the government a way to phase out physical money and track all of your fucking activity with no way to circumvent it. They will *absolutely* outlaw competing currencies or charge for the 'convenience' of using altcoins because it is in their best interest to do so. No part of this is about helping the average person.
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Arden
Blackwing Lair Raider
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Not sure why they would outlaw competing currencies. Tons of currencies currently compete with the USD. Are they going to outlaw the euro? The yen? I don't think so. I'm not even sure they would be able to do it if they wanted to. Crypto is a ship that has already sailed.
Privacy concerns are another ballgame entirely. Not sure what to think about that angle.
Flobee
Vyemm Raider
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Some things are more important that BTC number go up...Federal surveillance coin is both inevitable and an absolute freedom/sovereignty crisis. You're quite literally talking about the type of system that would combine with a digital ID + social credit score to completely control ones ability to interact financially. Eat the bugs, get back in your pod.
Does anyone really want the government and unelected officials to control what you can buy, where you can send your money? How do you feel about personalized monetary policies based on your spending history, age, gender, race, etc? If you think this is good you haven't though about the implications of the Fed directly controlling your wallet
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