GAMESTONKS II - Full Faith and Credit in Memes

[Spicyryan]

https://twitter.com/CramerTracker/st..._jXlQX-vA&s=19

[Spicyryan]

Binance may very well be insolvent after the 3 billion+ in withdrawals and their token dropping over 19% in the last day. It has been clearly inflated as it is has not been falling in relation to the rest of the market. Their late November proof of reserves "audit" in the wake of FTX collapsing was an AUP which is not even close to an audit. It is client directed and essentially just to see if their are internal controls, and proves nothing. The scope is limited to what the client provides and what they ask you to do. In the words of my wife, "AUP is bullshit." Even then what is barely listed is that Binance is claiming to be 101% collateralized (lol), but this is with customer assets on chain according to the AUP and much of it's native token (BNB) counted as collateral. Which, as we know, has taken a dive.

Binance has now increased the limit of leverage allowed to 125% to prop up BNB and draw in suckers. Since the canceling of open contracts on the platform to pull out funds leads to a selloff of BNB attached to them. On top of that they are running a new promotion to give users $30 back for depositing $10 in Tether for 7 days. Today they moved millions of dollars in tether from their Binance.US to Binance itself. Funny, FTX had an FTX.US used to prop up the main exchange too.

Whelp, lets see if it collapses.

https://web.archive.org/web/20221212...ember_2022.pdf

[Spicyryan]

https://twitter.com/PaoloTheParrot/s...LVs7ual2w&s=19

[Byrthnoth]

I think that crypto is a very smart idea from very smart people and not at all the worst parts of the stock market made manifest.

[Spicyryan]

I think that crypto is a very smart idea from very smart people and not at all the worst parts of the stock market made manifest.

It's full of scams, and therefore all the best parts of capitalism.

[Qalbert]

https://twitter.com/VGC_News/status/1604837575235190786

[Spicyryan]

https://twitter.com/WatcherGuru/stat...m7OfumSXw&s=19

[Forte]

I can't believe his brother looks like a thinner version of him. Same retarded hair.

[Byrthnoth]

That profile picture is an answer to the prompt "tell me you're the worst without actually saying you're the worst."

[Spicyryan]

https://twitter.com/Cryptadamist/sta...uK0o3emgg&s=19

[6souls]

https://twitter.com/zachxbt/status/1604961316539666432
https://en.wikipedia.org/wiki/Quadri...tech_Solutions

From the wiki summary

Quadriga Fintech Solutions was the owner and operator of QuadrigaCX, which was believed to be Canada's largest cryptocurrency exchange. In 2019 the exchange ceased operations and the company filed for bankruptcy with C$215.7 million in liabilities and about C$28 million in assets.

The company's CEO and founder, Gerald William Cotten, allegedly died in 2018 after traveling to India. Up to C$250 million (US$190 million) in cryptocurrency owed to 115,000 customers was missing or could not be accessed because only Cotten held the password to off-line cold wallets.

Quadriga likely never invested the funds entrusted to it, according to Chainalysis, a cryptocurrency tracking firm. Either the funds were never received or quickly went missing. "What Quadriga really did with the money that customers gave it to buy Bitcoin remains a mystery," according to Chainalysis.

Ernst & Young was appointed as an independent monitor while Quadriga was granted temporary legal protection from its creditors under the Companies' Creditors Arrangement Act. On 8 April 2019 the firm entered bankruptcy under the Bankruptcy and Insolvency Act as the possibility of a successful reorganization appeared to be remote.

The Royal Canadian Mounted Police (RCMP) and the U.S. Federal Bureau of Investigation (FBI) were reportedly investigating the company. Lawyers for the customers of the exchange have asked that Cotten's body be exhumed.

[Spicyryan]

https://twitter.com/zachxbt/status/1604961316539666432
https://en.wikipedia.org/wiki/Quadri...tech_Solutions

From the wiki summary

They have a Netflix documentary about this, I believe. But yeah, I saw the tweets about those dormant wallets moving which was comically ironic for how bad the winter is right now in crypto.

[6souls]

[Spicyryan]

Yeah, but Vice News is essentially entertainment media.

[Spicyryan]

Taking this from the Tesla thread as it doesn't belong there.

You do understand that crypto uses more electricity then many countries every year right? Like that's not a political statement its just facts. And yet crypto has not made good on single one the promises that its creators have spouted for over a decade now.

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Well, you are comparing a global phenomenon to a single nameless country. There are countries smaller than US states or states with less of a population than random countries. It is disingenuous to state it with no context. Given how the mainstream media and politicians repeat talking points like this, it isn't as apolitical as you would like to think.

Also, what promises are you referring to? Overall, I think Bitcoin is doing rather well for itself in general as the field progresses. To which someone will inevitably miss the point and comment on the price being down or something of the sort.

[Mrbeansman]

Taking this from the Tesla thread as it doesn't belong there.



Well, you are comparing a global phenomenon to a single nameless country. There are many countries smaller than the average US state or have less of a population than states smaller than a country. It is disingenuous to state it with no context. Given how the mainstream media and politicians repeat talking points like this, it isn't as apolitical as you would like to think.

Also, what promises are you referring to? Overall, I think Bitcoin is doing rather well for itself in general as the field progresses. To which someone will inevitably miss the point and comment on the price being down or something of the sort.

It literally does nothing but waste electricity to make money for a bunch of tech bros. Like for someone who rails against capitalism as much as you do its astounding to see you stan what is essentially the stock market 2.0.

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[Spicyryan]

It literally does nothing but waste electricity to make money for a bunch of tech bros. Like for someone who rails against capitalism as much as you do its astounding to see you stan what is essentially the stock market 2.0.

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So basically you have no understanding of all the topics in your response? C'est la vie.

[Mrbeansman]

Yeah your right I forgot about bitcoin being an accepted currency for anything but heroine and assassination contracts.

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[Spicyryan]

https://twitter.com/analyst_bitcoin/...FyvKFICRA&s=19

[Mrbeansman]

Ah okay so you're just a hypocrite.

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