As opposed to what exactly? The scrupulously fair traditional bricks and mortar casinos.....Originally Posted by coldrex123
Pig butchering:
https://www.cnn.com/interactive/2023...-intl-hnk-dst/
https://www.cnn.com/videos/world/202...tl-ldn-vpx.cnn
Another news story today of people losing their life savings in crypto scams.
"I don't think outside the box; I think of what I can do with the box." - Henri Matisse
You describe it as a "crypto scam". The mark was contacted initially by text message on his phone. He was then directed to whatsapp. Only then was a crypto element introduced, which was incidental.
Such scams predate the existence of crypto.
I'm guessing next year this will become an "AI scam" or whatever buzzword which scares people is fashionable next. The only thing it will not be described as is the garden variety confidence trick it actually is.
No, I did not describe it as a "crypto scam". CNN did. (Albeit I agree.) And crypto was not "incidental". And yes, there are already AI scams.
You appear to be cavalierly dismissing the misery of the marks. I believe that AI will be of enormous benefit. I was admin for an AI forum on the ARPANET well before the web existed and am a believer. (it was called AI at that time but was more expert system). This does not mean it is without serious dangers which must be addressed. OTOH, crypto was first lauded by starters, who made vast amounts as they were at the good point in the pyramid, tax dodgers, anarchists, and by those selling drugs, guns, and hit killers who ignorantly believed the nonsense that it was untraceable. (They are now largely in prison.) Crypto is basically a pyramid scheme and blockchain is just about the most inefficient database methodology one could imagine. Database experts state that large scale use of blockchain would be untenable with current technology.
Having said that, this is an AP forum and if you can make money with it, go ahead.
Last edited by Norm; 12-28-2023 at 08:06 AM.
"I don't think outside the box; I think of what I can do with the box." - Henri Matisse
The estimate includes mining and was published by Cell Reports, a peer-reviewed journal.
https://www.bbc.com/news/technology-67564205
"I don't think outside the box; I think of what I can do with the box." - Henri Matisse
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the FTX crypto exchange is now bankrupt and its founder Sam Bankman-Fried has been convicted on 7 charges of wire fraud, commodities fraud, securities fraud, money laundering and campaign finance law violations in 2023
he faces decades in prison and sentencing in March of 2024 - he is currently awaiting sentencing in a Brooklyn jail
Federal authorities had to chase him to the Bahamas and extradite him to get him to the U.S. to face charges
a 2nd trial including 5 other charges including bank fraud and bribery is scheduled for early March of 2024
before tumbling his various scams made him fabulously wealthy - Forbes at one time named him the 41st richest American - a billionaire - his net worth was estimated at $ 22.5 billion
at his zenith he was nicknamed "The J.P. Morgan of Crypto"
many who invested with FTX lost their life savings or very large amounts that badly hurt them financially
I own some Bitcoin and Ethereum which in 6 years has gone way up - which is nice - I'm hodling
but I will confess - I don't really understand Crypto - I would guess that many who are active in Crypto don't either
https://en.wikipedia.org/wiki/Sam_Bankman-Fried
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Last edited by drunk; 12-28-2023 at 09:49 AM.
Please don't feed the trolls
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the Federal Trade Commission reports (see link) that since the start of 2021 more than 46,000 people have reported losing more than a total of $1 billion in crypto scams - (how many lost how much due to scams but did not report____?)
also - 4 out of every 10 dollars lost due to social media scams involved crypto
https://www.ftc.gov/news-events/data...g-crypto-craze
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Last edited by drunk; 12-29-2023 at 05:51 AM.
Please don't feed the trolls
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Bitcoin took a wild ride yesterday due to scammers hacking into the Security and Exchange Commission's account on X and falsely claiming that Bitcoin had been approved for trading in exchange traded funds
it just never ends - Crypto has a target on its back that scammers are aiming for in so many different ways
https://uk.finance.yahoo.com/news/cr...6fpPHi1tg0gqn2
Please don't feed the trolls
Saw that in the WSJ. Scammers follow the money and the hype. Of course it's ironic that the "Security" and Exchange Commission had a security problem; even if it is a different meaning.
Now that Twitter is X and Kanye is Ye, I was thinking of changing my name to Z. But I'm definitionally not Gen Z.
"I don't think outside the box; I think of what I can do with the box." - Henri Matisse
pretty ironic also
one day after the phony hacked post the Sec the next day approved some trading of bitcoin - in "exchange traded products" - I'm not really sure what that means
go figure
https://www.sec.gov/news/statement/g...bitcoin-011023
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Please don't feed the trolls
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