He's actually three quarters of the way to being broke.

75% loss? Still did better than most crypto-investersgamblers.

i'm working on my second million here.....

(i gave up on the first one)

I’ve always heard that joke about horses.

At least if you spend it on horses, you’ve got horses.

Larry Niven used to tell a story about how he made his first million as a writer: "My dad said, 'Son, here's a million dollars. Try not to lose it.'"

Depends on how you spend it on horses.

But even then, if you buy $200k worth of horses, the other $800k goes on upkeep. Horses are expensive.

The lack of regulation is good ackchually ☝️🤓

In aviation, if you want to be a millionaire you need to start with two million.

That's an old saying, probably more like 8 million now.

Yep, you can't be horsing around.

Easiest way to make a million dollars is to start with $20M in US Treasuries paying 5% interest.

Sure but you get lots of sex.

https://www.farmkeep.com/farm-guides/livestock/how-much-does-a-horse-cost

Nah. He's a financially responsible individual building up his credit score

Found the FBI agent.

Special Agent Hands.

can you still buy drugs in the mail with any of that stuff

like, I don't see the point of cryptocurrency otherwise

literally every crypto headline I've seen for the last 6-7 years: rugpull, tax fraud, rugpull, scam, identity theft, scam, GPU market fuckup, scam, rugpull

Rookie, I'm working on my 100th million. I'm a millionaire alright, I just have a cashflow problem

And with those crypto headlines, how safe is it to really use crypto for transactions? I think I'd rather just swap a handful of cash at this point.

You'd want to bet on the USA right now?

I mean the Treasury will pay you back. They just make the money printer go brrr

It might be the easiest.

For more reliable... jeez... maybe Swiss?

RIP my GOAT

with a crypto wallet you're not relying on a bank that can control when you get access to your assets. but there sure are a lot of downsides to crypto as well.

I once tried crypto, I added 10/15€ to the wallet, I couldn't use them for transactions anymore cuz i needed to add at least 20€, i honestly just left those money there and ignored cryptos ever since; it was not told to me anywhere that i needed at least 20€ for transaction, i expect them to hide even more important infoes about how the shit works if they do not bother to let me know such stuff :/

Edit: i used USDC i think

USA will be there, but the dollar might be in a less good situation lol.

Note that cryptocurrencies (typically?) don't have an official exchange, the official thing is that you get compatible software, might need to download the entire history of the network, generate a wallet (which is a local cryptographic process), and allows you to issue transactions from that wallet (and presumably other funky actions)

Whatever you used that required 20€ minimum was presumably just some exchange... Though scams are very commonplace in cryptocurrencies. Probably a good idea to avoid them unless you have a specific need and you understand why you'd need specifically crypto for something.

Disclaimer: I don't actually use crypto and can't give you specific recommendations, but I think the technology itself and the idea behind it are cool.

Crypto should be treated as alternative to payment not for investing.

i have a few dollars in BLOX, pays a weekly income

https://nicholasx.com/blox/

We'll see.

As to crypto, lots of folks outside the monetary system use it, I r ever lot of Venzualans under Maduro were using it to buy groceries etc Feamily overseas couldn't get remittances to them (because
e of the US) , so they used crypto. Similarly a lot of Africans who were having their currency devalue hand over foot oved some into Crypto.

I'm sure Cuba uses it because... what choice ?

I see, i guess i got scammed or smth :/

itself and the idea behind it are cool

Yeah i agree, though, I think that's not a good tech anymore and hopefully it will superseeded by tech similiar to the digital euro one which seems way more reliable and works offline

In all seriousness... Bitcoin has doubled in value since 2021.

Yeah crypto has seen a bit of recovery since it dumped last year, so of course instead of continuing to not talk about it, people who dislike it are going to start popping up to make fun of how bad it's doing...now that it's not.

works offline

Huh, that's curious, that sounds impossible to make properly secure, since if you're not verifying the validity of transactions with some trusted third party or ledger (I think it's called that in crypto), someone could make a transaction, and then locally rollback their state to make another transaction to somebody else, which wouldn't actually be valid.

I'll have to read up on it if I remember, maybe it's just half-offline, in that you can sign transactions offline if the other party is online to execute them?

Generally though, whether it's "good" tech is a rather ambiguous question - I think it's a good concept that has some ethical problems and big issues in practice, including social aspects of how it's used. I think most people on the fediverse value decentralization to some degree, so a world where crypto didn't end up being mostly used for speculation and scams could've been interesting.

I bought some bitcoin when it was low a few months ago. In the last days it gained plenty of value, I hope it stays that way, I intend to sell it when it's around the peak value from last year.

Real shame he invested in "crypto" and not just bitcoin then

The rugpulls GP is warning about come from centralized assets like that. If you're trusting your money to some guy, then you're doing crypto wrong.

Would it be smart to hold US Treasuries in 1929?

Hey, you can buy plenty of stuff besides just drugs (illegal weapons, human organs, enslaved/trafficked people)

99% of embarrassed millionaires give up right before they make it big

There were also environmental concerns, but AI seems to have taken that spotlight

Yeah that was the idea, originally (hence why they're called cryptocurrencies). It's unfortunate that that's not what it's actually used for, in most cases.

Here's a practical use case: Sending money internationally.

I wanted to send some money to a friend in another country once, and it was difficult to find some service that could do it without some crazy expensive fee.

I've sent money to other countries before, but for this particular country, it was different. Maybe it's some (dis)agreements between our governments, banks, etc. Maybe it would require the service to send it through another country or two, or convert it to some other intermediate currencies. I didn't look into it, so I don't really know why it was so expensive.

Anyway, it was much simpler and cheaper to just send crypto instead.

Honestly ever since the US has gone psycho it's shaken the legitimacy of fiat for me (just a little). Bitcoin has it's own contradictory state of being a currency but also an asset, but at least it's not tied to any one country.

When the billionaire worshipers start lecturing you about "self-made men," this is what they mean.

i don't know about this Treasury.

By crypto he meant doge.

So you need to be successful in like is a million dollar loan, everyone.

It's now quite heavily tied to China, where most mining happens because of cheap hardware and electricity.

Wise, Revolut and others handle it for you with low fees.

That's because it's a rolling pyramid scam designed to suck in more bagholders.

I'm working on my fourth million thank you very much