That's the problem with deferred prosecution arrangements, it allows fraudsters to continue committing fraud. Saylor should have been banged up for a long time after 2000, and permanently disbarred from any sort of magement role, but he was free to recreate his same fraud just using bitcoin this time.
Don't Buy MicroStrategy, Inc - Mathematically Going To Zero
How a Leveraged Bitcoin Bet and a Fading Business Have Created a Bubble Destined to Pop - An In-Depth Analysis of MSTR's Strategy, Schemes, Fundamentals, and Outcomes.tscsw.substack.com
as both the bitcoin price and stock price continue to drop, thought michael saylor's past history of fraud that burst the dot com bubble might be of interest. could the same company under the same guy do the same thing twice?
Who is that?
Has there been a bigger cohort of borrowers than in the past?
Bitcoin price goes up, bitcoin price goes down (didn't you know that)? The only thing that has been true in the past is that the long term average (over several years) has been upwards.
I have always said not to gamble with money you can't afford to lose. Borrowing heavily to buy bitcoin in the hopes of a short term profit is particularly foolhardy.
cointelegraph.com
www.reuters.com
www.stablecoininsider.com
I sense a presidential pardon coming up …
They forgot what is by far the biggest risk of "stable"coins, the fact that their only real backing is the goodwill of users to not start a run on them. These things are pure unsecured obligations and should be treated accordingly.TerraUSD creator Do Kwon sentenced to 15 years over $40 billion crypto collapse
Do Kwon, the South Korean cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion in 2022, was sentenced on Thursday to 15 years in prison for what a judge called an "epic fraud."
terra founder do kwon sentenced to 15 years
so it's a little comforting you can still get in trouble for some of this stuff.
here's a website discussing how a stablecoin can fail and common causes for their failure.
What Causes a Stablecoin to Fail? Top 9 Reasons
What causes a stablecoin to fail? Discover 9 critical failure points from reserve fraud to bank runs, with real case studies and institutional risk scoring framework.
I don't think that is what Gulliver was talking about.
Well no. When we say a stable coin fails, we mean "nobody wants to buy them". The article is talking about the reasons why the users start runs on stable coins. People don't just wake up one morning and (try to) sell all their coins on masse. It takes a trigger for them to do that. The article was talking about the most common triggers.
That's just fractional reserve banking (if true). I'm talking more that all these "stable" coins act more like the South Sea Company or Ponzi's stamp scheme, ie that new entrans' money is used to prop up early entrants' equity value and there is nothing underlying the wholebusiness.
No matter how many posts about failed crypto enterprises or shonky crypto-based schemes you post, you will never prove that cryptos themselves are anything other than digital assets. Only your choir believes otherwise.
