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   John Quiggin (johnquiggin@aus.social)'s status on Saturday, 28-Dec-2024 13:31:51 JST John Quiggin

   Bernie Madoff's simple Ponzi scheme ran for at least as long as Bitcoin has operated, and would have lasted longer if not for the GFC. The market can stay irrational longer than you (or any short-seller) can stay solvent.

   https://en.wikipedia.org/wiki/Bernie_Madoff

   • kuteboiCoder likes this.
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     kuteboiCoder (kuteboicoder@subs4social.xyz)'s status on Saturday, 28-Dec-2024 13:31:51 JST kuteboiCoder

     in reply to

     @johnquiggin@aus.social
     
     The conspiracy theory is that the tech bros wanted a "strategic #bitcoin reserve" and for the Fed to outright buy bitcoin at all-time-high inflated prices. Funny thing is #MAGA would have let them get away with it if it weren't for #Elon and #Vivek going full mask-off with the "we like Indians more than you" shtick

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     kuteboiCoder (kuteboicoder@subs4social.xyz)'s status on Saturday, 28-Dec-2024 13:38:16 JST kuteboiCoder

     in reply to

     @johnquiggin@aus.social
     
     related
     
     https://wolfgirl.bar/notice/ApUVqdKbo9QdJ3jAqO