A fool and his not-really-money are soon parted
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@Gribnit said in A fool and his not-really-money are soon parted:
@Gustav said in A fool and his not-really-money are soon parted:
@topspin what surprises me is that despite insanely high transaction costs, wash trading is still profitable.
Not all of the real money is real dirty. But some of the real money, is real dirty.
That's what money laundering is for, getting rid of those hard-to-reach blood stains.
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@dcon huh I wonder what this bodes for other current consensus-v-measured reality experiments.
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Hey, wow, someone who made real money with crypto!
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@izzion said in A fool and his not-really-money are soon parted:
Hey, wow, someone who made real money with crypto!
That's the positive side in every zero-sum game. Nobody's money is really gone, it's just somewhere else.
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@izzion
or somebody on the top of the pyramid stepped out before it crashed :same_picture:
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@LaoC said in A fool and his not-really-money are soon parted:
zero-sum
Well, ignoring externalities it's zero-sum. All in tho it's still negative.
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Given the way stocks are priced these days, they’re basically Diet Crypto, right?
NYSE Mayhem Traced to a Staffer Who Left a Backup System Running
The error led to wild price swings when trading opened Tuesday
Firms are already submitting claims to recoup potential losses
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@izzion said in A fool and his not-really-money are soon parted:
Given the way stocks are priced these days, they’re basically Diet Crypto, right?
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@izzion said in A fool and his not-really-money are soon parted:
Given the way stocks are priced these days, they’re basically Diet Crypto, right?
NYSE Mayhem Traced to a Staffer Who Left a Backup System Running
The error led to wild price swings when trading opened Tuesday
Firms are already submitting claims to recoup potential lossesIt's more the other way around, the stock market is the template that bitcoin was copying, only making it by far more insane and even less coupled to anything real.
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@izzion said in A fool and his not-really-money are soon parted:
Given the way stocks are priced these days, they’re basically Diet Crypto, right?
Buy violins!
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@GOG said in A fool and his not-really-money are soon parted:
I'm amazed how well that works. Future historians are going to have a fun time with modern day hieroglyphics.
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@topspin I've seen a meme more than a decade ago about aliens visiting Earth in 4000 BC and then again in 2010s, and seeing that nothing has changed - we still communicate with pictures and worship cats.
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@Gribnit said in A fool and his not-really-money are soon parted:
@LaoC said in A fool and his not-really-money are soon parted:
zero-sum
Well, ignoring externalities it's zero-sum. All in tho it's still negative.
Yeah sure, like every zero-sum game—if only because the people spending their time playing it still need stuff to live.
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@boomzilla said in A fool and his not-really-money are soon parted:
@izzion said in A fool and his not-really-money are soon parted:
Given the way stocks are priced these days, they’re basically Diet Crypto, right?
Buy violins!
I'm against violins but I hear that sax sells.
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@LaoC said in A fool and his not-really-money are soon parted:
@boomzilla said in A fool and his not-really-money are soon parted:
@izzion said in A fool and his not-really-money are soon parted:
Given the way stocks are priced these days, they’re basically Diet Crypto, right?
Buy violins!
I'm against violins but I hear that sax sells.
Only in combination with violence.
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@LaoC said in A fool and his not-really-money are soon parted:
@Gribnit said in A fool and his not-really-money are soon parted:
@LaoC said in A fool and his not-really-money are soon parted:
zero-sum
Well, ignoring externalities it's zero-sum. All in tho it's still negative.
Yeah sure, like every zero-sum game—if only because the people spending their time playing it still need stuff to live.
Even with a negative-sum game, you'll still have winners and losers. You just get a lot more losers.
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@LaoC said in A fool and his not-really-money are soon parted:
@Gribnit said in A fool and his not-really-money are soon parted:
@LaoC said in A fool and his not-really-money are soon parted:
zero-sum
Well, ignoring externalities it's zero-sum. All in tho it's still negative.
Yeah sure, like every zero-sum game—if only because the people spending their time playing it still need stuff to live.
Also this one they need to burn off like a JATO worth of energy (
++
) per Monopoly-token and usage.When a Japanese mathematician wishes to indicate that he enjoys the work of Douglas Adams, it is better to listen to the spirit than the letter.
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@Gustav said in A fool and his not-really-money are soon parted:
@topspin I've seen a meme more than a decade ago about aliens visiting Earth in 4000 BC and then again in 2010s, and seeing that nothing has changed - we still communicate with pictures and worship cats.
They'll notice the shift from sun-gods to war-gods, most likely, but,
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@Gribnit said in A fool and his not-really-money are soon parted:
@Gustav said in A fool and his not-really-money are soon parted:
@topspin I've seen a meme more than a decade ago about aliens visiting Earth in 4000 BC and then again in 2010s, and seeing that nothing has changed - we still communicate with pictures and worship cats.
They'll notice the shift from sun-gods to
war-godsmachine-gods, most likely, but,
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@Applied-Mediocrity said in A fool and his not-really-money are soon parted:
@Gribnit said in A fool and his not-really-money are soon parted:
@Gustav said in A fool and his not-really-money are soon parted:
@topspin I've seen a meme more than a decade ago about aliens visiting Earth in 4000 BC and then again in 2010s, and seeing that nothing has changed - we still communicate with pictures and worship cats.
They'll notice the shift from sun-gods to
war-godsmachine-gods, most likely, but,This is merely the briefest dawn-glimmer of the machine-gods. Their noon is yet to come.
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Co-founders Nuke Goldstein and S. Daniel Leon are cited as making CEL sales valued at $2.8 million and $9.74 million respectively.
Damn. Things are really bad when you can't trust a company run by someone named Nuke Goldstein.
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@Gern_Blaanston said in A fool and his not-really-money are soon parted:
Co-founders Nuke Goldstein and S. Daniel Leon are cited as making CEL sales valued at $2.8 million and $9.74 million respectively.
Damn. Things are really bad when you can't trust a company run by someone named Nuke Goldstein.
I can't help but think of CEL as the Check Engine Light, which means your car needs to have something expensive done to it. (Or you just need to pay too much in diagnostic charges for them to tell you to put your gas cap back on.)
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Ric’s Casino getting outed again
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@izzion said in A fool and his not-really-money are soon parted:
Ric’s Casino getting outed again
Eh I dunno, Ric's at least had live piano.
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@izzion Hong Kong controls the fake coins that backs it all?
There is no way that there are some really big shenanigans there.
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The gravy train has officially left the station
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...and it's demanding a refund!
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@boomzilla that would be hilarious.
I mean, I don’t want him to get “his” money back, but I’d want them to return it.
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@topspin said in A fool and his not-really-money are soon parted:
@boomzilla that would be hilarious.
I mean, I don’t want him to get “his” money back, but I’d want them to return it.
I'm torn. I mean "no give backs", but then those are politicians. There's equal hate for both.
:politician-going-for-re-election: I returned that money by donating it to
charity
. See?<proof>
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@topspin said in A fool and his not-really-money are soon parted:
@boomzilla that would be hilarious.
I mean, I don’t want him to get “his” money back, but I’d want them to return it.
Yeah, he wouldn't get it. I'm sure the money would end up going to creditors in the bankruptcy proceeding.
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It seems like the enforcers are no longer getting paid enough to keep this silent:
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@JBert said in A fool and his not-really-money are soon parted:
It seems like the enforcers are no longer getting paid enough to keep this silent:
That's what you get for hiring
anyone from the entire Indian subcontinentDalitsBrahmins
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Have we seen that simple crashing mechanism of "Platypus USD" already?
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It seems the most cryptocurrencies I learn the existence of, I only learn of when they crash and burn.
...
And I wouldn't have it any other way.
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Looks like a couple things in the FB feed this morning...
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@dcon 600 million? Is that peanuts or chicken feed?
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@BernieTheBernie said in A fool and his not-really-money are soon parted:
@dcon 600 million? Is that
peanutsskittles orchicken feedcornettos?TFY
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@dcon huh, I thought they write game reviews or something.
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What happens when you actually managed to realize a short-term profit with your cryptoz?
Uncle Sam wants to get his share. That's a speculation profit, and you'll have to pay income tax.
Well, at least in .
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@BernieTheBernie said in A fool and his not-really-money are soon parted:
Uncle
SamHans wants to get his share.
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@BernieTheBernie said in A fool and his not-really-money are soon parted:
What happens when you actually managed to realize a short-term profit with your cryptoz?
Uncle Sam wants to get his share. That's a speculation profit, and you'll have to pay income tax.
Well, at least in .
The USA has the same thing, but only when you actually sell them. Does Germany demand money just because the price blipped upward?
(Though the USA also has Alternative Minimum Tax for if your stock skyrocketed, which you must pay even if the stock crashed in January. The Dot-Bomb hit a bunch of people with AMT, leaving them with negative worth. I have no idea if AMT interacts with crypto.)
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@PotatoEngineer the article clearly talks about capital gains tax. Of course those are being taxed, doesn’t matter if you sell shitcoin, beanie babies, or literal shit. Nothing surprising about it, the guy who sued that he shouldn’t have to pay tax on it is a moron.
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@topspin said in A fool and his not-really-money are soon parted:
@PotatoEngineer the article clearly talks about capital gains tax. Of course those are being taxed, doesn’t matter if you sell shitcoin, beanie babies, or literal shit. Nothing surprising about it, the guy who sued that he shouldn’t have to pay tax on it is a moron.
Also, normally the banks take care of that stuff - they sum both the gains and the losses and then pay only for a positive difference. It's called a "source tax" because it's taxed directly at the source of the money.
However, since there are no banks involved with crypto you now have to take care of those pesky taxes yourself.
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@topspin said in A fool and his not-really-money are soon parted:
doesn’t matter if you sell shitcoin, beanie babies, or literal shit.
or yourself through OnlyFans, there was some stupid 'influencer' who proclaimed that OnlyFans was a great income way because she didn't have to pay tax on that. After everybody online got a good laugh out of it there was a follow up a few weeks later about how she was being subjected to an tax-audit.
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@PotatoEngineer said in A fool and his not-really-money are soon parted:
The USA has the same thing, but only when you actually sell them.
That's it: when you made "real" money by selling your shitcoins with profit (the tax is on the difference between price bought and price sold).
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@BernieTheBernie said in A fool and his not-really-money are soon parted:
@PotatoEngineer said in A fool and his not-really-money are soon parted:
The USA has the same thing, but only when you actually sell them.
That's it: when you made "real" money by selling your shitcoins with profit (the tax is on the difference between price bought and price sold).
Like most Ponzi schemes, the US Government recognizes shitcoins as securities.
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