2023-07-14


Horseshit


Pestilence / Pox / COVID / VaxCult

Edumacationalizing / Acedemia Nuts

Crypto con games

  • Levine: Celsius Was Lying - Bloomberg

    with one executive noting Celsius was “basically using user balances to pay user rewards.”

    That’s the bad answer! There’s a name for that! If you raise money from customers promising them 17% returns, and then you don’t make enough money to pay those returns, and then you raise more money from new customers and use some of their money to pay the returns, that’s a Ponzi scheme. Maybe you don’t mean to do a Ponzi scheme, but if you go around saying “we use user balances to pay user rewards” surely you have some idea what you are doing.

Law Breaking / Police / Internal Security

External Security / Militaria / Diplomania