Thread 518997513

$300,000,000,000,000 ETH
BUT BUT BUT CRYPTO WAS SUPPOSED TO BE DIFFERENT
YOU CAN'T JUST PRINT BITS OF DATA!!!
MUH HECKIN CHAINERINO
https://x.com/Jeremyybtc/status/1978543709588185448

>>518997513 (OP)
guess what those $PYUSD are worth?

>>518997513 (OP)
Explain this to me like I have sex with women

>>518998050
Black men kissing

>>518997513 (OP)
>Jeets at paypal fuck up their own crypto because they vibe code that shit on AI
>HAHAHA CRYPTO IS DEAD

PYUSD is a stablecoin pegged 1:1 to USD, backed by US dollar deposits, and can be bought/sold on PayPal.

Anyone can print any amount of their own crypto when they first start? What's the issue here?

>>518997513 (OP)
what? PYUSD is $paypals personal coin, they can print how ever much they want. supposedly it's back $1 USD = $PYUSD, if you trust them on that is completely your own discretion

>>518997513 (OP)
> $300,000,000,000,000 ETH
you're retarded

>>518997513 (OP)
so what? everyone is free to do their own QE

>>518998011
what ever the government says they are worth

Why would you need to make your own coin when other stablecoins that do the exact same thing exist?
And if you wanted to do it anyway, why wouldn't you make it the same amount of tokens are the other ones have?

>>518997513 (OP)
goddam boomers are SO dumb

>>518997513 (OP)
>pays off the national debt
>gives everyone a million dollars
Problem?

>>518997513 (OP)
>Paxos mistakenly minted $300 trillion worth of PYUSD stablecoins on the Ethereum blockchain.
>The minting error was identified and corrected within minutes as Paxos burned the entire amount.
>Paxos confirmed the incident was due to an internal technical issue and not a security breach.
>Industry leaders expressed concern over the error and questioned Paxos’ operational controls.
>Paxos is currently seeking a national trust charter under the GENIUS Act while facing increased scrutiny.

>$300,000,000,000,000 ETH

>>518998011
3.50

>>518998050
PayPal is becoming their own bank by minting a paypal-USD stablecpin, and they accidentally minted more money than exists, then deleted it.

>>518997513 (OP)
This is why Bitcoin is the only coin that will ever have any chance of being legitimate.

Why didn't you buy in 15 years ago when you had the chance?

>>518998393
Destroyed, uh huh.
When someone makes a "mistake" that makes them money, you can count on them repeating that mistake until they get caught.

>>518997513 (OP)
PYUSD on the ETH network, not ETH itself you retard

>>518997513 (OP)
>>518998011
it looks like a stable coin

>>518998424
99 cents

>>518998502
Anon, I have sex with women. Please explain this properly.

>>518997513 (OP)
>PYUSD
>value at .99
>bank just made a note ledger it has 3 trillion dollarrus worth of assets

>>518998195
they cant if its stablecoin that is the thing
you can make 999 gorrilion coin and put it on market it will be worth $0 until cash gets in
When you make stablecoin linked to currency you must back that stable coin with currency
This is not good, even if its a glitch.

>>518997513 (OP)
you anons not printing your own moneys? today I was hungry so printed six billions to buy ramen. digital currency is so great when you can print moneys

>>518999655
it's marketed as a stable coin because they artificially peg it to 1 dollar, there is not intrinsic rule or force of nature that compels them to actually have all that money to back it. Stable coins have crashed before

>>518999945
Knights Templar?

>>518997513 (OP)
Crypto is a retarded get-rich-quick scam with every fool hoping to sell their shit to a greater fool later down the line. None of the founding principles of Bitcoin are at play anymore, it's 100% jewish casino. The only out from fiat clown world remains hard gold and silver.

>>519000002
Nice try Bankman-Fried

>>519000124
Freemasons have a hundred different clubs. It's all satanic Judaism. Charlie Kirk's wife is a tranny. He was probably not killed and they want to rile up conservatives to start a civil war as a distraction from JEWS.

>>518998665
paypal dick go in butt, niggers seething
got all that champ?

>>518997513 (OP)
Can they do this with pepe coinm

>>518999276
Check the zeros, it's 300 trillion.

>>518998050
Pump and dump bullshit by PayPal. That's it.

man maybe the jews are right about you people. I've seen a lot of dumb threads but this is just zero reading comprehension.

>>518998333
Gambling.

I want to open a short with 10x Leverage bet on $pyusd


How, Biz bros?

>>518998393
>internal technical issue
That was Jenny, the zoomer intern. She thought she'd make some extra for herself.

>>518998050
They are switching to the digital ZOG j*w system, you're going to need the mark of the beast to access money.

>>518998152
>>518998195
>backed by dollar deposits
>you can just print more of it than how much dollar exists in the world
Stablecoin is a fucking meme.

>he FOMO'd and bought?
>print it

>>519000627
if you dont know how to short you should not short

>>518997513 (OP)
Hey retard, they didn't "print $300,000,000,000,000 ETH". They issued $300,000,000,000,000 PYUSD on the ETH blockchain. Please kill yourself.

>>519000627
1. take all your money out of the bank
2. take a large metal bowl and put all your money in it
3. light it up, watch it burn and enjoy
There, you now have the complete stock market beginner experience.

>>519000777
Nice digits, No, I meant on which platform could I do It (dex)? I was banned from binance, and due to the nature of my money I need it to be on a platform without kYC

>>518998665
When bank loans you money bank used to give you physical money. Digital money in your bank account now means bank doesn't need physical money to give you loan. They type in +loan amount to your bank account and you magically have money. You still pay interest on this and likely collect real money to pay real money back to bank for getting fake money.
Paypal used this same concept but instead of digital dollars they created a different currency. Cryptocurrencies in general were created with this concept in mind and is why crypto in general is a meme especially mintable non-mineable currencies.
But that dips too far into the weeds than a sex haver would understand. It essentially boils down to trusting whoever runs it won't fuck you over which has been done many times with non-mineable currency.

>>518998128
Explain this like I'm a tiny, effeminate, faggot Frenchman.

Just wait for when drumpf shits up the crypto market 100x worse than you have seen and bitcoin drops to $5000 after people panic sell, and him and all his j*wish friends buy the dip and gobble up trillions in less than 5 minutes. His son needs a few more boats to wave at you from.

You think wealth inequality is bad now? You aren't prepared for what that orange nigger is going to do.

>>518997513 (OP)
Im retarded and have some play money. Should I buy 10k of this and just forget about it for a long time?

>>519000995
Thanks anon.

>>519000968
Can someone high IQ also answer this innocent gentleman's question?

>>518997513 (OP)
wtf is this title. minted? they printed dollars? to buy ethereum?

>>519001109
Wee wee hon hon socre blu baguette we surrender

Hope that clears things up for you

TGAY4

>>519000968
>>519001468
i dont even know how you retos actually have any money
did you ever consider to "partner" with someone smaller than you, prefferably a female, that can do KYC herself?

>>519001793
Thanks big fellow. Tabernak!

>>518998393
this was a feature test, btw.

>>518997513 (OP)
>3 Trillion printed in a digital control system when digital ID starts to appear.

I wouldn't worry about it Goyim

>>519000126
Thanks for th4e heads up, grandpa. I'll be sure to avoid the evil joo devil money.

>>518998342
A loaf of bread will now cost a million dollars

>>518997513 (OP)
thats literally a nothing burger
you can create a niggercoin that is worth 6 quintillion eth on paper

>>518998393
how do they even have $300 trillion to fuck around with I thought blockchain was secure

>>519000627
that wont work
the retard minted too many coins, the value you see is the value on paper

>>518997513 (OP)
no one tell OP about tether

>>519002584
the 300 trillion you see is the paper value of the coin they minted its not real

>>519000655
This.

>>518998050
Me Grimlock look at post! Human Jeremy say big news: PayPal make 300 trillion PYUSD on Ethereum! PYUSD like fake dollar, stablecoin, big magic money on blockchain. Screenshot show transaction: from nothing to Paxos, who make PYUSD for PayPal. Hash long, status success, fee small like 52 dollar. Grimlock think, whoa, that huge! More than all money in world! Human incels celebrate! Think world ending! But wait! Grimlock find out it mistake. Ugly Paxos humans fat-finger, type too many zero. They mint giant pile, then burn it fast, like 20 minute later. No hack, no scam, just oops. Aave freeze PYUSD for bit, scared. Now all gone, back to normal. Grimlock smash keyboard if that me! What happening? Human error in crypto world. Grimlock laugh hard!

>>518998152
I have several USD in my pocket, why would I give a fuck about your "1:1 to USD, backed by US dollar money"?
Fucking creep, you couldn't get laid with a fistful of Bitcoin in a whorehouse.

>>518998333
>And if you wanted to do it anyway, why wouldn't you make it the same amount of tokens are the other ones have?
Stablecoins issue/destroy tokens as people buy/sell them.

>>518997513 (OP)
Cryptobros please help me i am broke
0x6ae80F553FF43d51a58f55b5532Ce6e35b22Ed4c

>>519002584
It is secure. All blockchain transactions are filtered through some sort of consensus mechanism, through mining, running nodes, etc. You can "print" all you want. That's not what gives the coin value. Buying them at any given price does that.

In the case of stable coins the price is pegged to a fiat currency like the dollar. So coins are printed or burned as necessary in order to maintain that price point.

>>518998665
1. (((Some people))) tell general populace that crypto is special. Not like fiat money, because it's supposed to be finite and can't be printed at will. It's not controlled by somebody specific (it's like deocracy! democracy = good!), so trust and give them all your money (it's safe. sell all your property and invest into %coinname%)
2. proceed with printing retarded amount of shitcoins and then deleting it because oopsy, both showing there are no algorithms for anything, they just manually add value and subtract at will.

Basically crypto is like gold in MMO, the difference is, retards were stupid enougj to buy into believing it has value and pumped ridiculous amount of money into it.
It's huge ponzi schemes in essence.

>>518999655
Depending on your jurisdiction, when a company issues stock, they can issue an enormous amount. That's the max possible shares they could have. But they'll be kept in house until they make a stock offering. Yes, it sounds retarded. Complain to your regulators.

>>519003190
You have everything wrong, idiot. I'm sorry you missed the boat.

>>518997513 (OP)
>>>/biz/

Isn't it weird how when some schmuck gets scammed it's "Kek! Unrecoverable!" but when some major company fucks up they can just roll it back no problem. Like it never even fucking happened.

>>519002999
You've gotta be in it to win it, poorfag... See ya!

>>518998050
https://youtu.be/xG6oCrtef5A

>>518998521
Hey fuck you anon, I was high.

>>519001579
They minted PYUSD. How much there is and who holds it is tracked on the Ethereum network.

>>519003283
Sure thing. It's like gold! Like magic! And also democracy (good!). And nobody controls them, they exist in magical world full of unicorns and rainbows (you also is going to become very very rich if you give all your money to crypto issuers (they are the good guys, your best friends)
There is no value behind crypto, there isn't even a person responsible for the whole shit (there is actually but they tell you there are no)
It's scam.

>>519002977
Because you're a dumb nigger and don't understand the usecase it's for?
What do you want me to say?

Do you understand why you put money into a bank?

>>519002584
They don't, that's why they had to delete it. If they tried to launch it as a stable coin nobody would've touched it because obviously paypal doesn't have 300 trillion dollars in any sense.

>>518998393
>Paxos mistakenly minted $300 trillion
if this was actually a mistake, then they literally have the most retarded devs imaginable

>>519003604
Those sure are shiny strawmen, and they burned real bright.

Not really. You're still an idiot nobody yelling at clouds because you don't understand something.

>>518998393
> internal technical issue
JEET CODE

>>519003790
Okay. Please tell me what happens when people stop buying in that ponzi scheme and stop giving you money, but instead try to sell their shit. What happens to the value of your shitcoin at that moment, when the last retard gave you their money.

>>519003599
So basically anyone who wanted to could do this with their own new coin?

>>519003283
>$12,000 in btc
You don't have any money, slick, you are not smart enough. Speculation always ends the same way and it is not with unemployed 30 yo virgins on top.

>>518998665
You're so fucking stupid you probably fucking dogs

>>518997513 (OP)
rumor has it by 2300 it will reach a dollar

>>518997513 (OP)
Anyone can print any amount of a shitcoin dude. Has been the case for at least a decade.

>>519003911
>What happens when this incredibly unlikely thing happens?

A leprechaun shits on your coffee table.

>>518997513 (OP)
>Thing that is a scam is a scam
Oh no

>>519002584
>I thought blockchain was secure
lmao

>>519003911
>Please tell me what happens when people stop buying in that ponzi scheme and stop giving you money, but instead try to sell their shit.
jews keep the idiots money

>>518997513 (OP)
I love faker money.

>>519004015
At least learn English before calling people stupid.

>>519003972
>scary new fangled technology

Sure. I mean I'm talking to you on a computer bought entirely with crypto, but you do you. Stay in the past. Don't live. Don't look into it. By the way, AI is just a fad. That rock music craze will fade away any day now. Telephones are just a gimmick. And yada yada yada....something...something...darkside

>>518997513 (OP)
just crypto being revealed as the huge scam that it is.

>>518997513 (OP)
SPY USD?

>>518997513 (OP)
Sounds like media bullshit. I have a stick figure drawing that is worth $500 trillion. Any buyers?

>>518998424
Don't go givin' him no 3.50.

>>518997513 (OP)
The single point that they can mint more money than actually exists, and then subsequently delete those minted coins demonstrates how absolutely useless and worthless Eth is.

I just sold all these crypto to buy more silver.

>>519004527
Look, faggot, when Bitcoin was a dollar you were the smart guy.
Now it's worth a lot of money and I can assure you, on your computer that was bought with USD, you are no longer the smart guy, you are the little fish.

>>518998521

Because I was 10-years old, you faggot. I really should've used my 3rd grade lunch money to either buy a house during the collapse or buy a few million bitcoins.
The other reason is because I am not Jewish. I will not participate in a "greater fool" scheme just to enrich myself. This is the third most Jewish thing in existence, right behind raping kids and loaning money at an interest. Almost as Jewish as being a cuck and producing interracial porn, which says something.

>>518998050
She says she is a virgin a loyal to you, but she a hoe

>>518998050
ETH (ethereum) ERC-20 tokens can have code in them so you can make them contractable, and all sorts of things like requiring third party escrow. also everything is traceable.

so they're basically making a non-tamperable record of stable currency.

think about it this way: say you are a company or a bank, and need to keep track of money. fine. but how does a customer know you aren't cooking the books, or moving money without their consent? they don't know, and can't know, and the company and 3rd party auditors can't prove it either way.

but with cryptographic ledgers, the company can mathematically prove that your money and the money they hold does what they say it does, and can only be moved or spent when you and/or third party auditors/parties sign off on it.

I'm not a cryptobro (I am a maths guy tho) and hate the speculation over stuff, but these things were "a thing" before crypto took off.. they were just called Merkle tree/chain ledgers prior to 2008.

the issue is that the ledgers required a lot of computational proof, so how to incentivize others to run the computations and prevent one party from altering the ledger through a lot of computation? well, distributing the computation via proof of work (bitcoin) or proof of stake (ethereum) fixed that problem.

another good thing that crypto does is degree and credential verification. say you want to prove you went to 4Chan University, USA. well, currently you have to apply for a certificate issued by degree publishing clearinghouse run by the US government, and they issue a cryptographically signed degree that proves that the university authorized it. any other institution in the world can verify this signature and know you are legit. but the US government can still alter this private ledger by issuing fradulent degrees. a public cryptographic ledger would prevent even the government itself from tampering, as other entities would see the tampering.

>>519003283
I'd like to see you explain how crypto could run a war effort.

>>519000222
le epic digits confirms

>>519003283
mfw Ive been buying houses
>i get rental growth from somebody else
>properties are now worth 3x what I paid
>tenant pays the mortgage
i bet my assets are worth a fuck tonne more than yours

>>518998050
The Mark of the Beast is 'Coins, and you all gell for it.

>>518998342
I think your punishment in hell should be fully understanding how disgusting and shameful your comparison between the greatest man to ever live and a kike payment processor really is, and keenly feel it for the rest of eternity, as if every moment was the very first you learned what a massive faggot you are for making it.

cryptocurrency is niggerbux and kys if you refuse to believe it

shit for niggers
fuck off

>>518998333
>Why would Kings Island, Six flags and Yidsneyland make their own proprietary "Munny" that can only be spent at their own locations??

The Amerilard public has been getting primed for this since the 80s. Stablecoins are just a corporate workaround to usher in a completely controlled monetary system, since CBDC's extremely negative feedback. Chances are good that accompanying the inevitable failure of the USD, there will be another Scamdemic to further prod the cattle down the abattoir chute..
'Member in 2020 when it was becoming ridiculously hard to get change at the register?
The ones shortages?

I hate to play devils advocate here, but if you want to have the remotest chance of not being even MORE of a Goy-Cattle, being charged to even USE your own money, you'll invest in the platforms that act as the exchange for ALL the soon to be mandated E-Currencies that will be shoved up our collective asses, just to be able to buy groceries or pay your bills.
Did you know that the credit card wasn't even a thing until the 1950s and usually only for rich people?
Car insurance wasn't mandatory until..?
>pic
Now you can barely function in the proffered NPC world without a smartphone.
Money's NEXT.

There will be some very interesting SEC decisions before the month is up. If you were to look at all the different electronic currencies as Boomtowns all along a river, and you HAD to go back and forth between them all 10-20-30X a day just to conduct basic day to day living purchases, would it be wiser to invest in one of the Boomtowns, or have a share of the FERRYMAN'S proceeds?

Yeah, It could just grind on for another 5 years, but I think most people have noticed the absurd push for civil unrest across all Social and MSM media.

>>519002412
you are jewish

>>518998011
Each Federal Postal Service Service is entitled to 1 trillion dollars worth of 1 million dollar loans

>>518997513 (OP)
>$300,000,000,000,000 ETH
child's play

>>519002456
I had a cat that did this to me LOL
RIP Maya

>>518997513 (OP)
$PYUSD is not ETH retard.

>>519008232
been a lot longer than that nigger. just wait for blackrock bucks to pay for your blackrock apartment from your blackrock assigned job.

>>519009079
>been a lot longer than that nigger.
NAW Nigger, you posted CURRENCIES, a thing which holds a perceived value inherently, not an explicit IOU(well... IYKYK, same applies for U$ Fiat FedNotes™ though)
The very FIRST Credit card was the Diner's Club card.

We could stretch it a bit with proprietary cards, but they weren't accepted universally and were more like checks.
https://youtu.be/3zWXtDJe3Wk

You aren't wrong that most of the population will be doing just what you said--but it won't be me.
https://youtu.be/MTCen9-RELM

https://youtu.be/yuQb28DkQug?list=RDyuQb28DkQug

Think of all the things that started out optional but eventually became either required by law or untenable without them:
>Car insurance-used to be only an option-Pic related
>Credit cards-The first consumer credit card, the BankAmericard, was launched by Bank of America in 1958
>Credit SCORE- now tied to most aspects even Car insurance.

>>519007521
bitzer doing his I have investment houses larp again. next on the script is pregnant gf.
mummy's apartment in shitney still is guaranteed.

>>519000995
is that why eth went off mining and to proof of stake?

>>519000968
>>519001468
>>519002063
im on the lookout for no KYC too.
but it seems they are making it so that one has to jump thru 10 hoops to achieve that aka almost impossible.
this is what all these crypto faggots forget. it was made in order to stay fucking under the radar and safe. no 3rd party sites that can b hacked or backtracked to (you) transfering money from a bank to a wallet.
my solution would be to make wallets yourself on your PC, then pay IRL someone $ so they send you crypto to your wallet
but that means you need some1 you trust that has the coins you wanted and DIY wallet(s)

so if any 1 has ideas pls tell?

>>519010000
>The very FIRST Credit card was the Diner's Club card.
>tellysavalasmaxxing
agreeing with your point. it's all some form of kiked ponzi scheme. picrel 30% interest. lower tier loan sharking
labor backed currency seems the only true form of exchange. intra-community lending and debt jubilees make it more flexible and honest.

>>518997513 (OP)
>now ma’am i need you to type in, 300 dollars
>oh no madam, what you did?
>you accidentally typed extra zeros
>please get gift card or i will lose my job

>>519011532
>>tellysavalasmaxxing
>that's when I knew, you was my niggah
https://youtu.be/WVoe03lCo_M
hey fellow GenXer.
> it's all some form of kiked ponzi scheme.
since even before 1913.
It could be argued since the Goldsmiths started allowing receipts to be used as currency.

I don't trust Crypto since I watched all the comment discussion On ZH back in 2014, but I sure as hell AM going to be scooping up as much 2$ XRP as I can before the SEC allows it to be the main exchange for ALL these stablecoins and proto-proxiedCBDCs.
I don't think it's out of reach for even the poorest of anons to get 50-100 and be able to cold storage it on something like an Ellipal cold storage and card loader.
I just wish I'd bought it at .0054 6 years ago when I'd first heard of it and seriously thought about it.
I don't think I'll ever trust it, but 200-300 dollars on a dollar tree loadable credit card is doable for most.
...gotta have that bloated plastic to get into the SmartCity™ to do that 0e0e0eMarketing and Future IRL Shitposting, yeah?

>>519011532
Forgot to mention just how much I agree with your last sentence too.
(It sucks so hard not to be able to multi-file post)

and another thing, Ollie...

>>518997513 (OP)
Remind me again about fractional reserve banking and how after 2020 that fraction they require reserves for is 0%

>>519005356
>unintelligible nigger squawks

Every single component was bought with crypto. Actually 4 of them were bought with crypto over the last several years mostly from mining. You are an idiot and you don't fucking understand anything about crypto, which is why you keep making stupid comments one after the other.

>>518997513 (OP)
That's not in ETH, it is in PYUSD. Which is not accepted anywhere as far as I know, correct me if I am wrong.

So they just diluted ETh. Expect the price to fall drastically and rapidly

>>519013372
I wouldn't worry about it Goy...
https://www.usdebtclock.org/

https://www.youtube.com/watch?v=IaDt9T7BF38

<FULL FAITH AND CREDIT GOY!!>

i sharting

>>518998050
All ETH will now dilute to around 70% of it's original value. Not only did it suffer a stock exchange devaluation. The creators of ETH will now skim 30% off the top for themselves because it was quite literally in the fine print. Thank you for the money. Have a nice day.
https://youtu.be/6N8Oyg42jFA

>>518998502
they didn't delete it, they just said: "let's all agree to pretend that money isn't there"
Same exact shit the Fed did when propping up failed jewish banks and pretending like that money isn't going to impact the "real economy" as they call it.

>>519011293
>>519000995
ETH went off mining and to proof of stake to further improve centralized control of the currency (example: roll-backs of transactions when their whales got scammed, against the will of the community)
The entire concept of cryptocurrency was to create a system whereby jews wouldn't have control and wouldn't be able to destroy its value via inflation. Proof of work was a method by which decentralized control was achieved.

>>519003911
Institutions have raped bitcoin and control a majority stake of it now. It will do whatever they want it to do now, the real irony is that early adopters pushed it as an invincible currency immune from the state and all the problems of fiat, but it's just like gold money back in the old days, where jews would hoard a lot of it to dictate the public availability, jacking up the price then pumping and dumping on a whim to reallocate the goyim assets. There's no science involved here, whatever the massive institutions who have functionally unlimited fiat to throw at it want to happen, is what is going to happen.

>>519011448
tradeogre?

>>518998424
What a hilarious and original joke. The best part about this joke is that it doesn't get posted in every comment section everywhere every day.

>>519011448
>then pay IRL someone $ so they send you crypto to your wallet
You can do a lot of transactions in crypto locally now. Basically anything on local classifieds usually works, especially tech relates things.
Want to buy computer parts? Just post an ad saying you want x,y,z and will pay in crypto. Or vice versa if you're selling. Probably works well for silver/gold as well, since those don't transfer well internationally and you get raped on spot prices by (((dealers))).

>>518998342
based and retardpilled

>>519000758
This is why it won't ever be real money because some random can just fraudulently give themselves a trillion dollars

>>518997513 (OP)
HAHHAhahaha crypto bros on suicide watch, oh they killed themselves allready over their crypto crash. thats tough luck morons, next time invest in gold NOT.

well what i have is a contract that grants me dividends and its the same % since 12 years lmao. fuck all of you idiots, get rich quick schemes, DO NOT WORK. its to make someone else rich (thats me) lol.

>>519017514
>whatever the massive institutions who have functionally unlimited fiat to throw at it want to happen, is what is going to happen
This.

Speaking of which, whatever happened to those insurance files keys Wikileaks had hidden in the transactions of the old blockchain?

Meet the new blockchain
Not the same as the old blockchain

>>518998050
paypal is just scamming as usual. This time by minting s cryptocoin at FAR higher amounts than actually exist in their block chain.

>>519017822
that's silly, of course anyone can technically commit fraud but there are reputational costs not to mention severe legal consequences for paypal if they make a claim about backing up their currency with USD deposit and it's revealed as a lie.
if you fooled investors with a scheme like that and it turned out to be a lie you'd have your assets seized, go to prison, and be barred from serving in executive or board roles on publicly trades companies for the rest of your life.

>>518997513 (OP)
they didnt "print" ETH you stupid nigger. They made a shitcoin on the ETH chain

>>519017822
Didn't FTX crashed because it was revealed that their billions they had was in their own shitcoin

>>518998393
>can just create and destroy infinite coins at will
Yeah, centralized crypto is just about the most retarded thing I can think of. The only thing more retarded would be centralized crypto run by a private enterprise with little to no oversight. Wouldn't that be a laugh.

>>518998521
>Why didn't you buy in 15 years ago when you had the chance?
I was a good boy and listened to my mom.

>>519017604
Get the sand out of your rot pocket, tranny

>>519010840
>can't use his turbocoins to buy a house.
>muh ultimate wealth larp
you can stop your crying faggot. and yes I will also inherit my parents stuff. on top of my own houses. stay poor

>>519003155
Not for stable coins.
Every stablecoin must have 1:1 fiat backing to be considered a stable coin.
You want to mint 100 million of stable coin at $1 each, have $100 mil.
When people start buying and moving that stablecoin from you can mint more to reach your deposit or if you just want to mint more pay more.
If it was as most people here claim "it doesnt matter you can mint the fuck you want" why is Paypal admiting oupsie and why is Paxos under flak?

>>518997513 (OP)
Short it.
>Borrow fuck ton with dollar collateral
>Find retards that accept it and buy whatever as long as its 1:1 pegged
>Never pay the loan back
>Profit

>>519022485
Lol

>>519022485
Anyone in the world can create contracts on Ethereum and set the initial supply to 500 trillion if they want. What gives it value is people using the original (and correct) contract, which you know because all contracts have a unique identifier.

>>519024279
>>518998393
>>518998050

>>519024279
The way crypto works is you're supposed to launch ten scams in addition to the "legit" coin. Then occasionally someone puts money into one of the scams, which is basically throwing it to you.2kkxr

>>519024279
YOU CANNOT CALL IT STABLE COIN
the only reason why this shitfuckery is a shitfuckery and not just another shitcoin launch

>>519025006
Stable coins work the exact same way, Tether is an ERC-20 (aka a shitcoin). Someone with write permission has to manually create the coins when they receive a deposit in real life.

>>519025845
They dont, issuer of stable coin guarantees he will keep stable coin price stable
fucking whole FTX shitshow was because of it
LUNA didnt drop cause of ecosystem issue, they overvalued their USTC and it pulled everything to shitter when jig was up.

>>519026188
Ok, I agree that is the concept of a stable coin, but in the contract there are NO protections and NO verifications. The contract is not connected to any real life banks to automatically mint new coins. It's done by hand.

>>518998011
14.88 dollars + gas bill

>>519018801
I thought the whole point of a blockchain was that you *couldn't* just fabricate new coins out of nothing

>>519018977
If there's some Indian guy behind this he's dumb enough to consider the risk-reward ratio to be worth it

>>519026539
In Ethereum anyone can create any coin except ETH.

>>519026587
What does it mean that a coin is created "in ethereum" then? Still, mining tokens or coins isn't the same as just saying you have X amount. Isn't the coin and evidence of it getting mined supposed to be what's recorded on a blockchain?

>>518997513 (OP)
it's not eth retard, it's a token over eth a private issued one, if it goes to shit it's because the issuer of the token in this case a legal entity.

>>519026656
Only ETH can be mined, altcoins are just a new excel spreadsheet inside a contract file. Both have transactions that are recorded on the blockchain.

>>518998050
they slipped in the wrong hole but they palmed the shit off onto the sheets so they're primed to keep going

>>519002063
>trust a woman with your money bro

>>519026656
Ethereum is a base layer coins are issued to stakers (you freeze eth in a validator to keep the system operational and the system automatically emits new coins at a very low rate of 0.8% inflation per year (lower than gold)).

But ethereum is not just a coin it can also be used to pay gas fees for other coins issued over it and it's transactions, smart contracts, defi exchanges etc.

Basically eth is a base layer, a currency and over it there is a system of smart contracts that pay fees in eth when an operation is done.

For example stablecoins issue dollars collateralized in banks or us treasuries over ethereum if you want to move a stablecoin you pay a few cents of eth in each transaction, so you need eth (the base layer coin) to pay the fees of a smart contract stablecoins.

But there are tons of uses for this tech, long term a commie will take over new york capital markets and they will be forced to move elsewhere and whoever does over ethereum will have a first mover advantage since it will alow for stocks to be tokenized and sell over ethereum with only a few fees paid in eth instead of having to need a broker.

>>519026656
It's proof of stake, so we use the term mintd. The deployed erc-20 contract will have its abilities and restrictions written into it. Some accounts, such as the contract owner, might have special abilities.

Monero won.

>>519026907
It actually did not, eth is going to gigapump as soon as QT ends, it's extremly undervalued and with the us treasury doing retarded things like buying Argentinean pesos and a commie set to take over new york things are going to speed up.

It's sad that monero lost tough, it's been under a lot of attack lately by degenerates.

>>519022485
so they're worth $0.00000001 apiece and you'll need fifty million for a cup of coffee, money is money amirite

>>519026996
pump eth however much you want. Monero is the only money that you can hide from the taxman.

>>519026856
>autistic argie doesn't realize that the entire point is the brokering
wow you really are white

>>519027074
The taxman is retarded and relies on civil forfeiture which they tried to bring into crypto with the bsv attack vector and failed.

The usa becoming pro crypto is because they realized crypto could not be tamed as they did to metals and ironically since eth saved btc exchanges from the delisting attack vector with tether allowing exchanges to operate as op chokepoint attacked them, eventually people in the usa realized they have a massive first move advantage and since things are far too gone since the covid spending they may as well take to their advantage and let crypto and stablecoins (backed in treasuries) pump, they did attacked dai a lot tough which shows this is the case.

As for xmr i am not anti xmr, but they overplayed their hand to the point they are now a mixer since the gateway into crypto are controlled with cuck your customers.

When they tried to do that with btc people started to use eth and usdt to do p2p in third world nations so they backed off but it's very hard to do p2p with a system that relies so much on anonymity and lacks stablecoins.

>>518998050
Money go burrr
Bitrannies go ack

>>518998521
social construct by field of about to be dead boomers. Nobody without dementia gonna think about money like that long term. You gotta replace shit like jeets.

>>518998502
I deleted those moneys t. kike

>>518998521
I was having sex and now I'm too old to learn new shit

>>519027224
The brokering goes on steroids with defi look at how much money tether makes with how many employees, and compare it with nasdaq profit.

>>518998393
>$300,000,000,000,000

300 trillion pyusd tokens not eth.

>>519003190
wtf russia was right!

>>518998050
The national debt of all countries on earth is 250 trillion.
Some crypto company pressed a button to create 300 million for themselves out of thin air.
They added too many 0s and created 300 trillion instead.
Cryptotards go : Nothing to see here this is normal our economy is not fake and gay at all

>>518997513 (OP)
Yeh Ethereum has been a scam ever since that lightbulb-headed slav kid sold out. It's been fiat ever since, people really don't pay attention. The only reliable digital currency is bitcoin, all others are shitcoin.

>>518999945
this half fingolian crypto millionaire is in same club

>>518998502
>all of paypal gets arrested for trying to start bank runs

Big if true.

>>519026907
>Monero
based

>>518998424
Tree fiddy?

>>519028109
Tree. Fiddy.

>>519017167
oh shit that's big if true.

ima link that on pmg

>>518998393
yes its 2025, post truth era.
truth? truth is for the chosen people.
goy should mix and lie to eachothers.
Youre witnessing it LIVE

every
single
time

>>519029045
Daomn

>>519002823
gex x thanks you for the morning chuckle

>>518998050
her body count is higher than the one of a prostitute

All crypto was ever used for was scamming and buying illegal drugs, and it will be all ever used for as any legitimate government doesn't want untraceable transactions for exactly those reasons.

>>519026990
post here

>>518997513 (OP)
That's a memecoin, not THE coin. You know very well which specific coin i'm referring to here.

>>519000758
Hey Nigs for brains, have you ever considered that they just simply don't print more than the money they have backing it?

>>518998195
credit. plus they can always burn some of it to adjust its value. i think.

>>518997513 (OP)
>MUH HECKIN CHAINERINO
I don't speak nigger, can someone translate this to English and explain how it is politics?

>>518997513 (OP)
>BUT BUT BUT CRYPTO WAS SUPPOSED TO BE DIFFERENT
>YOU CAN'T JUST PRINT BITS OF DATA!!!
>MUH HECKIN CHAINERINO
Well how else did you expect stable coins to work?

>>518998424
Well it was about that time when I looked up and saw paypal was actually a giant crustacean from the Paleolithic era.

>>519008232
>>519009079
>>519010000
Same stale old script tbdesuh

>>518998521
Nobody wanted to share how to buy and gatekept everything back then

>>519029374
lmao, what a dipshit.

>>519030630
>300,000,000,000,000 eth but but but crypto was supposed to be differentyou cant just print bits of datamuh heckin chainer

>>519033478
ill bite. I'm a dipshit. then what?

>>518999945
totally different piece of jewelry

>>518997513 (OP)
https://youtu.be/57rMzjIE5l4

>>518998050
1) Paper money smells like ass and is not worth what it was a week ago. When you have more money you notice it's rot more and more

2) retards with lots of money run to digital money to preserve it. Thinking it will be safer. It's not. It's even more fake and gay

3) buying silver or gold is expensive but does secure your money from the rot. It is harder to use gold and silver for small purchases like groceries, but if you stacked any 5 years ago you are seeing its value doubled today.

4) likes get pissed when you bring up metals

>>519003911
How would it be different from fiat currency at that point?

>>519004015
Hey, to be fair, that's not a Canadian flag you're responding to.

>>519013624
What are you mining with?

>>519000002
>there is not intrinsic rule or force of nature that compels them to actually have all that money to back it.
Umm, akshually, that's a legal requirement of the GENIUS Act. PayPig is legally obligated to buy U.S. Treasury bonds at a minimum of 1:1 backing in order to be compliant with the law.

>>519003275
That's basically what happened with GME. The stock price was way overvalued, so the company created more shares AND sold them into the market to take advantage of the ridonkulously high price.

>>519003190

Is the average /pol/iqlet really this low IQ nowadays?

What happened to this place?

>>519035101
It's compromised. Every 100+ thread is a mixture of a low effort bait + an incorrect rage bait info + a direct link instead of an archived one.

you know what
i don't fucking care
just leave me the fuck alone
ill just keep to my self
atleast for now

>>518997513 (OP)
What does this mean?

>>519000655
unironically this bong is right
thats the goal
but as always they are sloppy as fuck in doing so or do it on purpose so we have a chance to exterminate them for it so they wouldnt get bad karma according to their kabbalah

>>518997513 (OP)
>>518998321
now do it with bitcoin
you won't

>>519035101
Did you miss the leaks from the hack? 80% of this board are unironically israelis behind a VPN
60% sitewide

>>518997513 (OP)
>adopt lolbertarianism
>immediately shit the bed so hard you need a bailout
Really makes you think

>>518997513 (OP)
You can make a shitcoin and mint as much of it as you want. That doesn’t mean its worth that much because you need liquidity to sell it. It also doesn’t mean you can print BTC or ETH

>>518997513 (OP)
>BUT BUT BUT CRYPTO WAS SUPPOSED TO BE DIFFERENT
Savage takedown here.

>>518998321
>what ever the government says they are worth
Ironically, this is what the Constitution authorizes, although the mechanics for such and context are important:

1. Congress ALONE has the power to Issue Money ONLY in aid of duly-constituted Appropriation Bill (for infrastructure)..thus the Money is "asset-backed" literally.
2. Issuance must be commensurate with Production Level (of tangible Goods) within the economy, and to boost Employment,, so as to aintain a healthy velocity and circulation within WAGE EARNERS.
3. Obviously, said Issuance is debt-free

>>518998050
OP lied as always. they mined $PYUSD, not ETH. always assume OP is lying, anon. always. all of these threads are disinfo psyops run by Chinks, CIA, Jews, leftist orgs, or trumpanzees. at any given moment only 3 to 4 /pol/ threads are accurated, sourced, in good faith, and relevant.

>>518998333
in-game economies are the only mathematical reason, and using a blockchain to represent your in game economy is needlessly, pointlessly inefficient.