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President Biden has not aged well in the Presidency, and should step down before he falls off his bike one too many times.

He perfromed a great patriotic service by defeating Trump, but it is time for him to retire and bask in the praise of a job well done.
 

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Discussion Starter · #86 ·
One crypto analyst described "defi" as a "majoritocrisy"......where those with the most coins control everything.

It sounds overlaying a fiat system that favors the wealthy onto cryptocurrencies and blockchains.
There are all different kinds of systems going on sags. You don't seem to grasp the concept that crypto is more than 1 single thing or concept. It's like when people say "stocks are gambling" it shows they have no concept of what stocks are in the slightest

There's a lot of talk about using quadratic voting where smaller wallets would be weighted proportionally higher to balance the whales. Problem is then there is no incentive to buy as something has value because it gives some sort of power/control

We all know you dream of communism and socialism but unfortunately it never seems to work anywhere. Even short lived CERB and stimulus checks seemed to cause unintended consequences to the economy in such a short time

Maybe there is a better balance between capitalism and communism. All the different cryptos with different distributions and voting structures are like individual monetary experiments. Maybe one of them will find a balance that can't be gamed (will require much better DID which is coming)

Either way I don't think you'll get it so might as well stop concerning yourself with it. Keep dreaming of UBI I'm sure it will solve all the world's problems without any inflation or unintended consequences. Russia is still around after all
 

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Perhaps the crypto platforms and concepts should work out all their problems before they start collecting investor cash from the public.

Trapped in the middle of a crypto crisis doesn't seem the optimum time to be experimenting with internal governance protocols and procedures.

It certainly doesn't convey any level of trust or confidence in the protocols to possible future investors.
 

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Discussion Starter · #88 ·
Perhaps the crypto platforms and concepts should work out all their problems before they start collecting investor cash from the public.
You realize this concept exists outside of crypto right?

Crypto critics constantly show how little they understand existing markets

If you don't have funds to put in risky ideas then worry about your GICs rates
 

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Discussion Starter · #91 ·
FP article on what apparently went on and the challenges behind the scenes at Celsius.
I didn't read the article in fill but I've read the claims from people on twitter who are also sharing the court documents

Sounds to me like the older CEO didn't understand how things in crypto work such as impermanent loss that don't exist in trad fi and didn't heed advice. Celsius CEO by the way created VoIP so he is probably more tech savvy than financial

I was fully withdrawn except for leftover weekly yield. Not because I knew what was coming but because it's not worth the risk after the promos. Voyager I did see coming and warned several americans to withdraw just in time. They gave a huge hint by lowering withdrawal limits while seeking funds

Not your keys not your crypto once again.
 

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First comes the SEC and IRS to build the case and then come the criminal prosecutors to arrest and send them to prison.

Bernie Madoff was an amateur compared to these crypto scam artists.

I am always surprised by the arrogance of these people who think they can steal billions, walk away, and get to keep the money by pleading ignorance.

I wanted millions so I stole some.

I fought the law but the law won.
 

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Discussion Starter · #93 ·
Did you see sleepy Joe fall off his bike?
 

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Celsius declared Chapter 11 bankruptcy last night. A judge will determine if depositors are secured or unsecured creditors.

They have 100,000 creditors......owed tens of millions or small retail customers.

They estimate their liabilities between $1 billion and $10 billion. More entanglements are thought to be uncovered in the bankruptcy process.

 
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