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Crypto dudes think they invented the proverbial money tree.
... (y) the gift that keeps on giving, scamming even it's made up of fakes.

I think buying a can of pure O2 (even it's more than US$50) and sucking from it in the midst of some super-polluted metropolis would have more worth to it. :ROFLMAO:
 

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Bad days for cypto.......more hacks, thefts, losses, and Michael Saylor steps down as CEO of Microstrategy after a $918 million loss in their bitcoin holdings.

The announcement comes as the company announces its second quarter earnings, in which its total revenues dropped by 2.6% compared to a year ago. The company also reported an impairment charge of $918 million on the value of its digital assets, presumably primarily bitcoin.

I correctly predicted the board of Microstrategy would give Saylor the boot, for his foray into bitcoins.

 

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I correctly predicted the board of Microstrategy would give Saylor the boot, for his foray into bitcoins.
You should try to put some money behind your predictions then. If you tried to short MSTR you'd probably get rekt

You predict something bs 100 times a day just because you get one right doesn't mean anything. You predicted inflation was transitory and good for GICs. Low content as usual

So put some money behind your predictions and let's see. Gotta love the lifelong GM union guy cheering on bankruptcies too
 

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Shorting ?….. not when the idiots on WSB can move in and push the stock up 21,400 % like they are already doing to AMTD stock.
People who like crypto made money shorting crypto.

That would be like you shorting GM at the right time if you knew it would crash. Genius if you can pull it off but it's usually people who actually like and know the asset and what they're doing. Shorting something just because you read clickbait FUD and you'll get rekt. Nobody cares if a broken clock is right a few times a day

Blackrock is making a deal with coinbase for their institutional clients. Smart money
 

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Hot on the tail of the Solana exploit tied to Slope wallet, that cleaned users out by $6M, we now have:


The Macalinao brothers used a web of bogus identities to create the illusion of a dev community, juicing value on the Saber protocol and Solana blockchain.
Solana is looking pretty borked now.
 

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Solana is looking pretty borked now.
It looked broken from the very start

If the admins can shut it down 10 times it's broken. Fool me once shame on you, fool me twice shame on me

It's a centralized database with a sliver of initial public sale. They pay influencers to FUD cardano
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ZB.com, which bills itself as “the world’s most secure digital asset exchange” lost approximately $4.8 million from its hot wallets on Wednesday. ZB announced that they were suspending deposit and withdrawal services due to "sudden failure of some core applications".

 

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Central exchange and bridges (which are also central focal points) have always been know weak spots

Don't store any value on central exchanges or bridges. Same reason I wouldn't buy a vehicle from a failed company like GM. Fool me once shame on you.

Hackers will often take any bounty reward though because the funds are easily traced and locked/backlisted. Even mixed funds get traced it's just more work to trace.

Explaining this to boomers would be like explaining the internet to pre-boomers
 

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The hacks are from individual wallets, so centralization doesn't appear to be the issue.

The hack is still ongoing and they have no idea how the hackers are able to use private keys to unlock the wallets and steal the funds.

It looks like the hackers got access to all the private keys from some crypto platform somewhere and can unlock the wallets at will.

Decentralization is a myth, when exchanges are needed to facilitate buying, selling, and trading tokens.

Without the exchanges exchanging fiat for crypto, the crypto tokens would have no perceived value.
 

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Decentralization is a myth, when exchanges are needed to facilitate buying, selling, and trading tokens..
Sort of. De-Fi keeners are generally quick to point out that most types of transactions can operate peer-to-peer. You don't really need any central exchange for you and m3s to swap diss-coins for mock-coins. Keeners would point out that most exchanges exist only as a convenience, not a necessity, for most transactions and that this level of convenience might one day be embodied in a phone-app or something similar, that allows you to act as a stand-alone agent in the De-Fi world, not beholden to any exchange or financial entity.

Personally, I believe that the whole web3 premise, including De-Fi is a fantasy, but as m3s will likely point out, I am old, and therefore wrong.
 

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Sort of. De-Fi keeners are generally quick to point out that most types of transactions can operate peer-to-peer. You don't really need any central exchange for you and m3s to swap diss-coins for mock-coins. Keeners would point out that most exchanges exist only as a convenience, not a necessity, for most transactions and that this level of convenience might one day be embodied in a phone-app or something similar, that allows you to act as a stand-alone agent in the De-Fi world, not beholden to any exchange or financial entity.

Personally, I believe that the whole web3 premise, including De-Fi is a fantasy, but as m3s will likely point out, I am old, and therefore wrong.
CEX is required to onboard and offboard from fiat. Kind of like a scanner or fax can digitize the offline paper world I suppose. Eventually you only use scanner/fax when dealing with ancient offline people

Imagine criticizing and judging the internet before you ever used it. It would all sound very confusing and scary with all the clickbait scams in the news everyday. That's why my grandma and grandpa never touched the internet in their lives

So yes it is because you are old. Younger people will eventually learn to use it just like we had to learn to navigate the internet. It's impossible to understand the internet if you live offline and judge it based on news that sells outrage and emotion

Lots of DeFi progress coming in the near future. We are still in dial up age. Boomers need not concern themselves as they will be in the afterlife like my grandparents before they need to
 

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A more apt comparison would be bank accounts where the bank says they were hacked and your money is gone.

They have no idea who took it or where it is, and there is no insurance coverage for the loss.
 

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A more apt comparison would be bank accounts where the bank says they were hacked and your money is gone,

They have no idea who took it or where it is, and there is no insurance coverage for the loss.
Except it's all public so they do

You're honestly the slowest learning person I've come across on the interest in 10 years. Even the slowest people I know were able to get themselves to a real job interview at least once in their life

Ask yourself why most people have you blocked. You consistently provide no content or value. You should read more and type less saggy brain
 

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Arguing with a fool proves there are two.
Like I've said before someone has to call out this moron

I've received many direct messages agreeing with me and thanking me for information. saggy is just too dense to realize that everyone else has blocked him and nobody is getting anything useful from his posts. There are many socialist echo chambers for him to go wallow in despair of his misfortunes in life but there is no sympathy left here

Who spends 10 years on an investment forum repeating that the government should just pay for everything
 
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