FTX explained perfectly. #FTX #explained #perfectly


FTX described completely.

See Supply

Share this post

Comments (35)

  • matsuin Reply

    The only difference here is Clownbucks would have *some* intrinsic value as you could exchange them for McDonalds..

    November 10, 2022 at 4:34 pm
  • KAX1107 Reply

    What if I told you this is how every single premine, ICO scam works?

    When you create free coins for yourself out of thin air, sell portion of it and control how it is distributed, you hold the lion’s share of both sides of the market. Basically license to game and manipulate the market at will and print money for yourself.

    The stuff that’s happening on centralized crypto exchanges today is the same shenanigans that was happening with bucket shops in the late 19 and early 20th century which ultimately led to The Securities Act of 1933.

    Some bitcoiners are so fucking dumb to be sleeping on this letting bitcoin get dragged into shitcoin casinos. Without bitcoin for liquidity, these shitcoin casinos running their infinite money scams will die.

    # IF YOU’RE USING A SHITCOIN CASINO, YOU’RE THE FUCKING PROBLEM! GIVE YOUR CUSTOM TO ETHICAL BITCOIN ONLY COMPANIES. STOP SUPPORTING SCAMMERS.

    November 10, 2022 at 4:34 pm
  • Bitcoin_Freedom Reply

    Scam Brokeman Fraud bites the dust

    November 10, 2022 at 4:34 pm
  • causallyglancing Reply

    What’s the conversion between Shrute bucks and Stanley nickels?

    November 10, 2022 at 4:34 pm
  • jenkaparsons Reply

    But could you buy fries with that shake using Clownbucks?

    November 10, 2022 at 4:34 pm
  • infopocalypse Reply

    https://twitter.com/LynAldenContact/status/1590063257158811648?t=i8L5sh9deNXKhGfYXqsQug&s=19

    The link. Unfortunately when Ive posted twitter links it doesn’t show the tweet and gets no traction. Lyn Alden is great.

    November 10, 2022 at 4:34 pm
  • HurricaneHarvey7 Reply

    The irony is that [Clown Coin](https://coinpaprika.com/coin/clowns-clowncoin/) actually exists

    November 10, 2022 at 4:34 pm
  • fannybagz2000 Reply

    You have to be some extra level stupid to accept these shitcoins as collateral

    November 10, 2022 at 4:34 pm
  • thinkingperson Reply

    Wait, isn’t this how all other exchange based coins are? Shit.

    November 10, 2022 at 4:34 pm
  • bitrequest Reply

    This is a pretty good explanation for fiat too.

    November 10, 2022 at 4:34 pm
  • kingofthejaffacakes Reply

    I’m not sure this is an accurate analogy.

    If McDonald’s sold its worthless clown bucks, they have something valuable in exchange. They laugh their asses off when the clown bucks collapse.

    The ftx situation must be more complex than this. The token is obviously worthless, but why is ftx in trouble because of that?

    November 10, 2022 at 4:34 pm
  • StoneHammers Reply

    Do any of the other exchanges do this? Coinbase?

    November 10, 2022 at 4:34 pm
  • DexM23 Reply

    There are BigMac Coins

    https://en.numista.com/catalogue/exonumia146157.html

    November 10, 2022 at 4:34 pm
  • mrjacob_moore Reply

    The only distinction is that if you could swap Clownbucks for McDonald’s, they would have some inherent value.

    November 10, 2022 at 4:34 pm
  • FreshLasagna1433 Reply

    Thank you for sharing, helps me grasp a better understanding

    November 10, 2022 at 4:34 pm
  • jt7855 Reply

    That is similar to what individual banks were doing before the Fed. Now we have only one clown buck.

    November 10, 2022 at 4:34 pm
  • ChileConCarnevore Reply

    His name was Bank-Man after all.

    November 10, 2022 at 4:34 pm
  • StonkLoser Reply

    Just like dave and busters

    November 10, 2022 at 4:34 pm
  • Connect-Ad-1088 Reply

    hamburgalur bux.

    November 10, 2022 at 4:34 pm
  • stayyfr0styy Reply

    Wait til you realize that dollars are just like clown bucks.

    November 10, 2022 at 4:34 pm
  • TurtleRocket9 Reply

    Does the it’s always sunny cast run FTX?

    November 10, 2022 at 4:34 pm
  • maartenprins Reply

    I LOVE Lyn Alden :)

    November 10, 2022 at 4:34 pm
  • Hogriderrr10291 Reply

    C’mon McDollars would have been a better name.

    November 10, 2022 at 4:34 pm
  • AlwaysReady4444 Reply

    I’m very happy that Lyn is a full Bitcoiner now. I started listening to her just before the pandemic and she wasn’t as hardcore as she is now.

    November 10, 2022 at 4:34 pm
  • rroth Reply

    r/IASIP

    November 10, 2022 at 4:34 pm
  • durgadas Reply

    The real question is: What is the role of the Hamburgler? The Mastermind behind all of it?

    November 10, 2022 at 4:34 pm
  • One_Landscape541 Reply

    And then the ceo of clown bucks sit in front of congress and tries to buy politicians.

    November 10, 2022 at 4:34 pm
  • clampie Reply

    Lyn Alden is an amazing analyst. I love how she simplified this. lol

    November 10, 2022 at 4:34 pm
  • locotxwork Reply

    Well, I mean I am old enough to know that McDonalds Bucks did exist. I had to go look it up . . and here ya go . . . https://www.yesteryearretro.com/2019/12/mcdonalds-bucks-in-my-christmas-stocking.html

    November 10, 2022 at 4:34 pm
  • Pdinfull Reply

    Good and simple explanation by Lyn.

    November 10, 2022 at 4:34 pm
  • NYKNYb Reply

    Fun fact: that’s how fiat works too.

    November 10, 2022 at 4:34 pm
  • diadlep Reply November 10, 2022 at 4:34 pm
  • cheerful_afternoon Reply

    Ok … Ok … But can someone explain to me how this caused “Bitcoin” price to plunge ?! What’s the correlation?

    November 10, 2022 at 4:34 pm
  • Walternotwalter Reply

    Lyn Alden is one of my top sources of information. I highly recommend a follow.

    She has been illustrating major lightning network developments over the last week or 2.

    November 10, 2022 at 4:34 pm
  • Entire_Kangaroo_4655 Reply

    I mean that’s the same a the usd were so in debt its worthless but we still use this worthless paper to trade for shit

    November 10, 2022 at 4:34 pm

Leave a Reply


%d bloggers like this: