7 Comments
Mar 28, 2023Liked by Dirty Bubble Media

Was it Munger who called cryptocurrency ‘rat poison squared’?

Useful stuff, rat poison. You can get rid of rats with it.

Cryptocurrency is nuclear waste, flavor-enhanced rat poison covered in anthrax and meth dressed up as the future of finance.

It’s just fraud for millennials.

Expand full comment

How is what Binance did any different than what the mega banks have done when they broke KYC/AML rules and paid $100M fines, fines that were much smaller than their extra profits? This Twitter thread explains what happened and calls it a 'nothingburger': https://twitter.com/RocketTrades9/status/1640373105779417090?s=20

Expand full comment
Mar 28, 2023·edited Mar 28, 2023

SMH. Whataboutism. And you literally use the word ‘what’.

Your reasoning: The way to solve crime is to allow more crime!!

Expand full comment

KYC/AML regulations are designed to create criminals where their aren't any. A thief or fraudster who launders his money was a criminal before KYC/AML laws. You and I, on the other hand, are not thieves or fraudsters but the regulations assume we are and treat us the same.

Expand full comment
Mar 28, 2023·edited Mar 29, 2023

Laws define criminality, they don’t make criminals.

Laws exist because we want a system that deals with criminals for the overall betterment of our society, because folks don’t generally like being robbed, raped, murdered or assaulted.

Expand full comment

As soon as CZ and his little goblins started stealing money, helping drug dealers and child porn weirdos - the primary use cases of cryptocurrency - they became criminals.

Expand full comment

They’re pretty damning allegations and I assume the CFTC has very concrete evidence. I’d expect a settlement in the likes of the BitMEX CFTC settlement but we’ll see. I’ve already read the overreactions from people excited that the complaint refers to a few coins as commodities. What they miss is this in no way takes them

Out of scope for the SEC as a complaint is just a list of allegations and not court tested precedent. If they settle then anything noted about coins being commodities is moot

Expand full comment