/biz/ - Business & Finance

>>50522560
"i am a redditor. i invested my lifesavings of $100k into an obvious ponzi. if a kind stranger didn't post the suicide hotline on reddit i'd be dead right now".

>>50522560
Reminds me of all the anons who listened to /biz/ and put money in LINK, kek

>>50522560
Why are people unable to recognize psychopaths when they see them and they scam them?

>>50522560
watching countless hours of marketing? Why?

>>50522560
He did his due diligence *after* giving them all his money?

The only product I'm using rn is Yopi Network. because:

>90 days lock for 66% APY
>Play & Earn RPG Games
>There are many options to earn cash within the yopi.network
>Few big partnerships coming up

>>50522626
Idiocy. You have to understand what the shape of the bell curve. The bell curve shows that the vast majority of the world are midwits and a smaller portion being retards. The ones that are not idiots are either scamming the idiots or are too busy laughing at those getting scammed. Are you really surprised or confused as to why Redditors would buy into marketing?

>>50522610
All they have to do is a basic religion check

A "technologist" with an "excellent understanding" spending countless hours watching Mashinsky shilling, but he couldn't spend a few more minutes just to read the terms and condition which he agreed to? lol

>>50522589
thanks anon hahaha

>>50522608
But linkies are all in profit even now

>>50522742
unironically being racist and antisemetic has saved my ass countless times in crypto

there's a reason why stereotypes exist.

>>50522726
I think mental capacity and criminal energy are two seperate curves. Most criminals are not very smart, but high criminal energy gives them the drive to see their scam through.

>>50522943
Most criminals.. most of humanity you mean. Most of humanity are midwits. Its not surprising if a midwit criminal scammed a midwit non-criminal. Have you ever been scammed? Chances are if you are not a midwit, its highly unlikely that you will ever get scammed.

>>50522726
>Are you really surprised or confused as to why Redditors would buy into marketing?
yes, cant relate to it a bit

>>50522560
>hurt durr I'm well informed, I watched hours of lies

But I listened to Bernie Madoff for hundreds of hours, I did my due diligence!

This is just another one of the dangers of echo chambers

>>50522742
I'm at the point now where I don't even have to check. My k-dar has six sigma level accuracy.

>>50523105
eerily similar to chainlink shilling on this board desu senpai

168% apy btw

>>50522560
familiarity with an operation feeds the bias towards it. he started with the high yield, then simply spent time with articles and videos, buy never actually attempted any real diligence. he calls this diligence but he doesn't know what it is. many such cases.
IQ is not a factor. keynes was an expert mathematician, but didn't know -- and never learned -- really any economics, not correctly. he simply made up things using his math experience and kept in his "general system" that which got a positive reaction from the powerful people he wanted to be friends with this guy was doing the same thing, but internally. he crystallized in his mind the idea that there was absolutely no reason he could see why those ridiculously high yields were not possible... by listening to alex mashinsky.
he should have watched peter schiff absolutely fucking destroy alex, lol

>>50523168
I agree

>>50523266
>be friends with. (*period) this guy
oops.
anyway, continuing on, what is diligence, then? well you have to have a little bag of tricks to be very good at it, and i don't have them all yet, but at least i understand the beginning.
the first thing you need to do is start looking around on google and youtube and so on for real arguments against your subject of interest. you have to think about this intelligently because it's different for every buy target, but for crypto, it's pretty easy.
to get started, your search terms will be such as "crypto scam" and "celsius scam" and "mashinsky scam" and "mashinsky charged" and "mashinsky indicted" and "mashinsky criticism" and "celsius ponzi" and "celsius allegations" and "celsius debate" and "mashinsky allegations" and "mashinsky debate" and ...
you get the point. if you fail at an entire range of possible hits for these searches, you have 99% of your buy target in your blind spot. you don't even know the history of the guy. and not only do i do this up front with ALL of the board and ALL of the management, i recently found one of my investments was probably no good by going BACK and doing it again and mixing the names of management with a NEW set of verbs that had come to light. it is not one and done.
that right there is 1% of due diligence. "start with the A's."

>>50522726
I thought celsius was a scam, but I thought they were just subsidizing yields for stables with on-chain defi yields, and at worst would have liquidity issues for specific tokens (ie, snx, aave, grt, etc) and be forced to market buy shitloads to pay redeemers. I also assumed they were making way more on spreads with their in-app trading (basically everyone does this). Some of the tokens they were offering 12-14% apy for was somewhat justified because they were earning twice that on-chain with inflationary rewards, and they could have actually made 5-8% on stables possible if they did the things mentioned. They would be ruthlessly dumping the tokens their customers hold, but it could have worked


I didn't even lose money in celsius, but desu their full retard degeneracy is kind of surprising me.

>>50522589
>The heckin' suicide hotlinearino

>>50523335
thanks bro I knew bitcoin was a scam from the very start

>>50522943
>>50522980
avoiding scams becomes a lot easier when you start by reading this one book and listening to this one charlie munger speech, inspired by the book.
https://www.youtube.com/watch?v=nJQ5yYItIFo
https://www.amazon.com/Influence-Psychology-Persuasion-Robert-Cialdini/dp/006124189X/
https://www.youtube.com/watch?v=Jv7sLrON7QY
again, IQ is not the determinant factor. anyone can learn the classic grifts and apply them to modern technologies and credit instruments. anyone can also fall for them, through a simple lack of experience with even the historical record of the same grifts, or similar ones. midwits can apply pattern-matching good enough to save themselves from this.
the first reason they don't save themselves is they lack the information. the second reason they don't is even knowing what they know, they take risks numerically inconsistent with reality.
yes, you can still call yourself an investor when you take 0.5% of your portfolio and go attempt to speculate within what you know is likely a ponzi scheme, if you have analyzed it and concluded that you will be one of the fake winners that the promoter uses to reel in bagholders. you are just also evil, for being correct and coming out with a return.

>>50523558
that's not why you search for it. you're looking for crypto scams that could be related or associated to celsius. you're looking for actual scams, using crypto, so you can pick apart their structure and compare it using pattern-matching to what you're seeing. you can, for free, go back in time and watch Dishonest Dave give an interview and see what he says, then fast-forward to current day and re-watch your mashinsky interview that made you so starry-eyed in the first place, and when you see the exact same promises, and the exact same behaviors, you've got a hit.
you immediately gain more power over mashinsky than mashinsky has over his rubes, and he doesn't even know it. you can choose to be evil with that power >>50523575
do you understand?

>>50522608
Link made me rich, faggot, cope harder.

>>50523575
its even easier than that
>dont "invest" in internet coins

>>50522560
wow.
this cunt actually is retarded.

>>50523147
kek

>>50522830
Based, follow your instincts

>>50523335
>>50523593
based due diligencer

>>50522610
Because they didn't play runescape as a kid

Not your keys not your coins.

Thanks for playing.

>>50522560
>excellent understanding of blockchain and crypto
>i performed due diligence

>>50522812
Not the new bagholders we convinced to buy in 2021
kek

>>50522560
>excellent understanding of blockchain and crypto currencies
>I felt I could trust the platform and company

>>50524867
>i felt
show me on the doll where you felt the feel

>>50522589
fpbp

>>50524402
Fucking this man. Can’t tell you how thankful I am for pre GE merching skills and all those old wildy lurers. Many lessons that game taught me.

Side note, you ever go back and play it and notice how much occult/ high level knowledge there is in the game? For a game coded by two college age brothers, there’s a lot of high level information in there.

>>50522830
Big based.

Imagine selling your soul to the US govt and then spending it all on an obvious scam

>I have an excellent understanding of blockchain and crypto currencies.
>I put my savings in Celsius because I felt I could trust Alex.

Fucking lol, never trust anyone, its the entire point of crypto. What a fucking retard. No sympathy for overconfident retards.

>>50523078
kek it really be like this

>>50522560
there's really no difference between losing bitcoin/eth to celsius, and losing dollars to bitcoin/eth stored in a wallet
yes, there's the difference of what's being lost, tokens vs. purchasing power, but at the end of the day it's a distinction without a difference
people who think bitcoin is safe because it's the most popular crypto are no more intelligent than celsius depositors

>>50523078
ive often wondered if the film "the invention of lying" might've been a documentary all along.

>>50522589
Plenty of /biz lost money on Celsius, not just Reddit
t. didn't use defi

>>50522560
>i have an excelent understanding of blockchain and crypto currences but i decided instead to just trust some shill i spent hours bingewatching

>i wurk with tech
>i thought i wasn't a retard because everyone around me says i seem smart
>but it turns out i'm just a retard
>i put my savings [in celsius] because i'm a fucking retard
>this retardation was probably caused by pharmaceuticals in the water and by going to public school
>i performed due diligence to test my intelligence, only to learn that everyone lied to me, and that i am, in fact, retarded
So sad.

>all these people pretending /biz/ wasn't into celsius from the start

>>50528065

>>50528106

>>50528106
>>50528125
obvious sloppy jobbers

>>50522560
ZERO financial literacy.
>retards with fake degrees and no common sense

>>50522608
I mean… if you bought in 2018 you’re still good with link?

comfy thread

>>50522560

>>50522560
> I thought I could trust an Israeli and porn star with all my money

>>50527173
But if you can't trust anyone, what's the point of doing any research at all?

>>50522560
The state of crypto!

>>50528065
nobody really batted an eyelid when it was pointed out, they were literal IDF - like, the entire fucking firm. But the whole board went fucking batshit when the Jess video surfaced, started trashing Alexs weekly AMAs till she got booted. Its odd what triggers ppl most, but you can't claim Celsius were never marked as sus.

>>50523756
>celcius
>internet coins
it is a jewish "defi" scam in quotation marks because not even a real defi, not a real cryptocurrency fucking nigger

>>50522685
Kek just like the vaxx cattle

>>50529378
The point of doing research is coming to the realisation that the most fundamental central tenet of crypto is that you can't just trust some human being promising you something, and need to rely on mathematics, irreversible cryptographic guarantees, to guarantee performance.
This "technologist" claiming they had an "excellent understanding of blockchains and cryptocurrencies" and then going on immediately to say they invested in a centralised scam because they watched tons of marketing videos from the head scammer, is an concise example of intellectual hubris, and a perfect example of how fucked you can get if you overestimate your own comprehension.

>>50522560
>countless hours of watching the head of a scam explain that his scam isn't a scam
in what universe would someone consider this reasonable due-diligence? fuck me redditors really are fucking retarded.

>>50522610
Because once a psychopath gets momentum going they appear to be an unstoppable force. They confuse a psychopath's ability to claw their way to survival with the same kind of bravado that would make someone die for their beliefs. Psychos aren't really too scared of dying but there aren't any beliefs they hold they would be willing to die for.

>>50522560
>literally hire a pornstar to manage your money
>lose all your money
huh, who woulda thought?

>>50522830
based. I refuse to buy coins based in India (see Polygon and Kleros)

>>50527135
only retards go into the military, no surprise here

>>50523666
If you had 100k LINK you have less than a million which isn’t rich. Cope harder stinky

>>50523666
Yeah every linkmuhreen swears they bought a gazillion tokens for pennies the day it was listed on etherdelta to cope with the fact they could have made more by buying literally any other alt before the 2021 bullrun. Every single linkie saw it top at $50 after shit like solana and avax ripped much higher to say nothing of the dozens of low cap alts that did more gains in 1 bull cycle than link did in 5 years.

Never forget you did this to yourselves stinkies. You mocked God, sided with satan, and were punished accordingly

>>50522560
They all talk about how they did "research" by watching Celsius marketing videos. What the hell do they expect? Before you invest in anything you should try to understand the risks and the downside, not just the upside. Google "X is a scam" before doing any X and see what comes up.

I'm honestly confused by this because I don't know if it means things like this shouldn't be open to the average person because they will unironically hurt themselves. I mean, yes, it's their fault, but they didn't choose to be dumb.

>>50531249
It's an extremely common story. People buy into a narrative instantly, and then all of their "further research" is purely designed to confirm the thesis they have already bought into. Happens in everything, not just crypto. The illusion of knowledge.

>>50528013
Nobody except kike shills on biz ever had anything positive to say about these obvious cefi scams.

>>50528013
>Assuming defi "lending" is any different than traditional fiat fractional reserve banking
lol lmao even

>>50531312
You can literally see all of AAVE's assets on chain you stupid fuck

Syscon is fully merged mined with bitcoin; which means that our security is guaranteed by a process that has already used its resources committed to securing bitcoin's network which makes it the second most secure blockchain behind bitcoin; and environmentally friendly as well.

>>50522560
"im a computer engineer"
"so i thought that made me good at finance and accounting"

dude is literally a moron.

>>50531312
Celsius and nexo arent defi, tard

>>50523168
I disagree

>>50523593
>>50523266
That is how I discovered that even bitcoin is a scam. I steer clear of all crypto these days.

>>50531204
But Solana and AVAX never had the years of dd and accumulation so I doubt anons here made anywhere near the same money on those

Fucking idiots don’t know about SMARTCREDIT. Easy p2p loans and fixed income funds @
31% stable APY

>"I have an excellent understanding of the technology that was literally created from a schizo rant named TRUSTED THIRD PARTIES ARE SECURITY HOLES, coded initially by the same author of said paper"

>>50524402
Holy fuck I thought I was the only one who thought about this.
By age 10 I learned most people you'll meet actively do not have your interests at heart because of this game

>>50522560
Watching a guy give all kinds of promises has 0 to do with technology. What a retard. He was swindled by normal conmen. And here we are getting mad at good projects for not constantly putting on airs, doing meaningless speeches, and social media rounds.

>>50522560
I am amazed and disgusted at the sheer arrogance of someone to still claim they have an "excellent" understanding of a given subject matter after falling victim to the very antithesis (trusting some kike) of what the subject matter is all about.

>>50529637
>those tulips are different to my tulips
lmao

>>50532348
Sheep are stupid and smug. No they won't ever learn. Accept the reality you live in,

my brother was strutting like a peacock for an entire year bragging about his smart celsius passive income. Never listened to me, talked down to me ect. He lost 60 grand which was his entire crypto portfolio. Sucks to suck.

>>50531204
>Yeah every linkmuhreen swears they bought a gazillion tokens for pennies the day it was listed on etherdelta

we literally did. /biz/ discovered link and the majority of early buyers are from here. your posts and posts like it are just newfag cope from people who never bothered to read the archives.

>>50523266
Austrian economics btfo out of Keynesian faggots for nearly a century.
Yet people will likely still always choose Keynes

>get into decentralized currencies
>give them to centralized parties
some people just deserve to lose