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(Some Guy)   And just like that, it vanished into the æther   (coindesk.com) divider line
    More: Fail, Money, Journalism, Newspaper, digital assets, future of money, media outlet, Future, Journalism ethics and standards  
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1492 clicks; posted to Business » on 19 Jan 2022 at 1:53 AM (17 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



36 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-01-18 6:11:29 PM  
Original Tweet:

 
2022-01-18 8:50:07 PM  
Ya hate to see it happen.

Womp womp.
 
2022-01-18 8:55:11 PM  
So crypto isn't FDIC insured?

That's a shame.
 
2022-01-18 10:16:50 PM  
15 million?

It's gonna turn out the number is a lot higher
 
2022-01-18 10:42:15 PM  
It's like people stealing skymiles from each other that are for an airline that doesn't exist.
 
2022-01-19 12:09:34 AM  
I know what every individual word means but together it's meaningless. I know what cash is. I know what a tornado is.
 
2022-01-19 2:26:18 AM  
Something weird on this site fired up my CPU cycles for whatever reason.
 
2022-01-19 2:42:06 AM  

Somacandra: I know what every individual word means but together it's meaningless. I know what cash is. I know what a tornado is.


What do you mean, it's perfectly clear.

Crypto.com's Stolen Ether Being Laundered via Tornado Cash
The Ethereum mixer is being used to obscure destinations of ETH pilfered from the crypto exchange.


/clear bullshiat
 
2022-01-19 3:04:23 AM  

cryinoutloud: Crypto.com's Stolen Ether


Technically there is no such thing as "stolen" crypto.

Whoever is the owner is the owner.
 
2022-01-19 3:09:30 AM  

Ishkur: Something weird on this site fired up my CPU cycles for whatever reason.


You should probably figure out how to use noscript and ublock while browsing
 
2022-01-19 3:57:42 AM  
At least trading in regulated markets, you don't have millions of people not to leave your money in an exchange account because this happens like clockwork.
 
2022-01-19 4:15:03 AM  

Ishkur: cryinoutloud: Crypto.com's Stolen Ether

Technically there is no such thing as "stolen" crypto.

Whoever is the owner is the owner.



Now I really want to watch a defendant make that argument to a judge.
 
2022-01-19 4:26:55 AM  

Ishkur: cryinoutloud: Crypto.com's Stolen Ether

Technically there is no such thing as "stolen" crypto.

Whoever is the owner is the owner.


Is that what the crypto bros mean by its foolproof ''security'' or w/e? It can't be stolen because it can't be "stolen"?
 
2022-01-19 5:08:06 AM  

lifeslammer: Ishkur: Something weird on this site fired up my CPU cycles for whatever reason.

You should probably figure out how to use noscript and ublock while browsing


Or use a Pi-hole.
 
2022-01-19 6:10:47 AM  
i.kym-cdn.comView Full Size
 
2022-01-19 6:19:34 AM  
Fortune favors those brave enough to steal.
 
2022-01-19 6:54:12 AM  

Ishkur: cryinoutloud: Crypto.com's Stolen Ether

Technically there is no such thing as "stolen" crypto.

Whoever is the owner is the owner.


IIRC while its running through a mixer, the mixer is 'the owner' (has the keys), and you just have to trust them to give the equivalent (minus fee) back after it's mixed up
 
2022-01-19 6:57:15 AM  

Nullav: At least trading in regulated markets, you don't have millions of people not to leave your money in an exchange account because this happens like clockwork.


Ah, the seldom mentioned use for Federal debt. If you don't have anything lined up for now, you can hold debt until the next project or investment. Well, not you. We're more of the keeping excess in our little FDIC accounts.
 
2022-01-19 7:03:10 AM  
I actually had an ad on FB for "Griftcoin".  It's like they're not even trying.
 
2022-01-19 7:09:47 AM  

Gubbo: 15 million?

It's gonna turn out the number is a lot higher


Yeah, if you can snag $15M then why stop there?  $15 million is just barely FU money.  With 4x that you can set your family and grandkids up for life.
 
2022-01-19 7:55:05 AM  
Whenever I read stories like this, I can hear this really really really high-pitched violin music.

What is up with that?
 
2022-01-19 7:59:44 AM  

NeoCortex42: So crypto isn't FDIC insured?

That's a shame.


Ah, but if it WERE FDIC insured, the shame would be so much greater. I kind of like it this way. No way no how should real money have anything to do with this funny money. I don't even like banks getting mixed up in it as an investment.

If someone wants a fast and loose sandbox to play in, that should only barely be tolerated. Remember when the US outlawed online gambling? But having publicly chartered companies and recipients of US subsidies and bailouts involved in this is a travesty.
 
2022-01-19 8:26:47 AM  

2fardownthread: NeoCortex42: So crypto isn't FDIC insured?

That's a shame.

Ah, but if it WERE FDIC insured, the shame would be so much greater. I kind of like it this way. No way no how should real money have anything to do with this funny money. I don't even like banks getting mixed up in it as an investment.

If someone wants a fast and loose sandbox to play in, that should only barely be tolerated. Remember when the US outlawed online gambling? But having publicly chartered companies and recipients of US subsidies and bailouts involved in this is a travesty.


China banning it is really just the start, the rest of the world inevitably follows China's lead so I expect the EU to ban it next, of course America and Russia will race each other to the bottom but eventually both countries will ban trading and mining too.
 
hej
2022-01-19 8:29:03 AM  

Ishkur: Something weird on this site fired up my CPU cycles for whatever reason.


You're helpfully mining crypto for someone else via JavaScript.
 
2022-01-19 8:44:26 AM  

Rapmaster2000: Fortune favors those brave enough to steal.


'You see, it's like bearer bonds, but without the hassle of having to go outdoors.  We're financial geniuses.'
 
2022-01-19 9:27:45 AM  

Original: Original Tweet:

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There are words. I understood some of them
 
2022-01-19 9:38:10 AM  
The fact that this exists at all proves Crypto is just a Ponzi scheme, stealing from the small to benefit the rich and criminal.

If you put your money in crypto, you are an irreconcilable moron.
 
2022-01-19 10:42:43 AM  
Crime is money.
 
2022-01-19 10:55:26 AM  

Billy Bathsalt: Crime is money.


Money is crime.  Hey, I think you might be on to something.
 
2022-01-19 11:49:25 AM  

Somacandra: I know what every individual word means but together it's meaningless. I know what cash is. I know what a tornado is.


So imagine a tornado picked up stacks of cash from different locations and scattered it around.  Could you tell where any specific dollar bill that you found after the tornado actually originated?

Same idea.  The basic premise of crypto is that you have a public ledger.  Some people are unhappy that having a public ledger means you can tell where each transaction originated, and where it ended up.  Someone created a system where you can "wash" your crypto through some intermediaries, which is intermixed with the crypto other people are washing.  So it becomes harder to trace any individual transaction.

It's kind of like a place full of washing machines where you could go to clean your crypto.  There should be some kind of term for it, but I just can't put my finger on what it would be.  Oh well, time to head to the laundromat to wash some clothes...
 
2022-01-19 1:07:30 PM  

abbarach: So imagine a tornado picked up stacks of cash from different locations and scattered it around. Could you tell where any specific dollar bill that you found after the tornado actually originated?


Money is fungible -- it doesn't matter where it came from and it doesn't have to be the exact same money when police conduct laundering investigations. There just has to be a chain of expenses conclusively proven to be for certain purposes.

For instance: Stormy Daniels was paid $130k to not talk about her relationship with TFG during the 2016 Presidential campaign. Michael Cohen first paid her out of pocket (putting up his house as collateral), and then TFG reimbursed Cohen in $30k installments out of his campaign funds, making it look like lawyer fees. So the money Daniels received was not the same money TFG gave to Cohen, even though the case was conclusively proven that TFG paid off Daniels, which was a campaign finance violation.

Cohen went to prison for this, and TFG should have gone to prison also but he got out of it by becoming President.
 
2022-01-19 5:44:17 PM  

Somacandra: I know what every individual word means but together it's meaningless. I know what cash is. I know what a tornado is.


Fark user imageView Full Size


You had me at Cash Tornado.
 
2022-01-19 5:46:18 PM  

kittyhas1000legs: I actually had an ad on FB for "Griftcoin".  It's like they're not even trying.


Did you follow the link? It is clearly satire.
 
2022-01-19 9:20:26 PM  

Resin33: kittyhas1000legs: I actually had an ad on FB for "Griftcoin".  It's like they're not even trying.

Did you follow the link? It is clearly satire.


I didn't click the link (don't want FB getting the ad revenue) but with a little googling, it's another BScoin that's traded on some exchange I've never heard of.  I'm almost tempted to throw $20 at it.  if one coin reaches one cent, I'll make a killing!
 
2022-01-19 10:24:53 PM  
i.ytimg.comView Full Size
 
2022-01-20 2:22:53 PM  

kittyhas1000legs: Resin33: kittyhas1000legs: I actually had an ad on FB for "Griftcoin".  It's like they're not even trying.

Did you follow the link? It is clearly satire.

I didn't click the link (don't want FB getting the ad revenue) but with a little googling, it's another BScoin that's traded on some exchange I've never heard of.  I'm almost tempted to throw $20 at it.  if one coin reaches one cent, I'll make a killing!


https://griftcoin.biz/

It is pretty funny. Though I'm not surprised there is an actual coin, and there is precedent for a joke coin taking off.
 
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