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Posted on 6/1/22 at 5:18 pm to Bdiddy
Kenneth is a mo ron.
Posted on 6/1/22 at 5:39 pm to Bdiddy
Posted on 6/1/22 at 5:41 pm to Bdiddy
quote:
Before the loss, he, his wife and their young daughter lived comfortably off his investments and gig work for Uber and DoorDash
I highly doubt they were "living confortably" off the returns of 300K and Doordash
Posted on 6/1/22 at 6:41 pm to Sterling Archer
Poor ham candy can’t even make a joke. I’d be pissed too if I thought my 300k in some coin and my Uber job would carry my family. I’d be 7000% wrong and stupid, but still pissed.
Posted on 6/1/22 at 6:45 pm to notsince98
quote:
It is buying imaginary money....not sure how it can be misleading.
Stablecoins are mostly viewed as bearer monetary assets designed to mimic the price of fiat currencies by utilizing a stabilization mechanism. Essentially, stablecoins are a digital representation of fiat currency that lives on blockchains.
Posted on 6/1/22 at 6:47 pm to TigerintheNO
quote:
Stablecoins are mostly viewed as bearer monetary assets designed to mimic the price of fiat currencies by utilizing a stabilization mechanism. Essentially, stablecoins are a digital representation of fiat currency that lives on blockchains.
Lol ok
Posted on 6/1/22 at 6:53 pm to HamCandy
Maybe Brandon will forgive his bad decision…print the money and bail him out Brandon!!!
Posted on 6/1/22 at 6:58 pm to Strannix
That's what he is basing his lawsuit on. Donovan et al v GMO-ZOOM and Coinbase
quote:
To promote GYEN, Coinbase mimicked GMO Trust’s claims that GYEN was
pegged one-to-one in value to the yen. Both entities knew, based on a prior destabilizing event,
that GYEN’s peg to the yen was prone to break and that such an event would be likely, if not
certain, when GYEN opened for trading on Coinbase. Both entities withheld this information
from investors.
6. In November 2021, when Coinbase first allowed GYEN trading on its exchange,
the asset immediately came untethered from the yen and rose sharply in value. Investors placed
orders believing the coin’s value was, as advertised, equal to the yen, but the tokens they were
purchasing were worth up to seven times more than the yen. Just as suddenly, the GYEN’s value
plunged back to the peg – falling 80 percent in one day.
7. As the GYEN’s value was cratering back to the yen, Coinbase compounded the
harm by restricting many customers’ ability to sell the asset, then abruptly suspended all trading
of the asset without explanation
Posted on 6/1/22 at 7:04 pm to TigerintheNO
Never put all your eggs in one basket. I hope this guy learned his lesson, but I doubt it
Posted on 6/2/22 at 8:10 am to TigerintheNO
quote:
To promote GYEN, Coinbase mimicked GMO Trust’s claims that GYEN was
pegged one-to-one in value to the yen.
Im launching StrannixCoin, its pegged 1-1 to an ounce of gold per coin.
I mean what does that even mean?
Posted on 6/2/22 at 8:38 am to notsince98
quote:
You'd think someone familiar with investing would be familiar with the risks.
I know a guy that made a ton of money on Eth, but since he was a moron before, and just got lucky, he's literally blown every ounce of profit on shitcoins and AMC stock. Now he's a poor again.
Posted on 6/2/22 at 8:46 am to Strannix
(no message)
This post was edited on 8/26/22 at 3:44 pm
Posted on 6/2/22 at 9:51 am to Sterling Archer
Almost 20,000 "coins" and 99.5%+ are total scams.
Posted on 6/2/22 at 10:10 am to TigerDeBaiter
quote:
So he YOLOed on a stable coin that traded off peg and tried to profit. Moron
This needs to be added to the op.
I remember this last winter. I had to save a friend who had bought this pump, without understanding about the pegged to the Yen part.
This is like someone buying a $10 bill for $100 and bitching that it was only worth $10.
Posted on 6/2/22 at 10:18 am to Teddy Ruxpin
quote:
I just assumed he caught lightning in a bottle on another speculative crypto investment to get that much, and subsequently lost it on the next one, so it seemed more lucky than impressive, if I'm splitting hairs here. He bet on black and won, then tried again with GYEN and lost.
Not that there's a wrong and right way to get there, but I don't think this guy was saving 90% of his income or out hustling anyone, by the looks of the fallout he described.
yea add in the nugget that he drives for Uber and door dash (not high-level jobs here) and I think you're spot on.
Posted on 6/2/22 at 10:19 am to Strannix
quote:
mean what does that even mean?
I'm basing this off memory, but I think GYEN was created by a massive corporation in Japan, properly registered in New York, and had enough cash to allow any person to directly trade the GYEN tokens for the equivalent amount of cash.
Posted on 6/3/22 at 6:13 am to Bdiddy
So, he invested in a highly risky, highly speculative bitcoin market hoping to get rich overnight.
When that failed, he now wants to blame someone else.
Perhaps he should have just taken out $335K in student loans getting a Women's Studies degree instead and have Raping Joe Biden unilaterally forgive them.
When that failed, he now wants to blame someone else.
Perhaps he should have just taken out $335K in student loans getting a Women's Studies degree instead and have Raping Joe Biden unilaterally forgive them.
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