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SBF Speaks | Bloomberg Technology 11/30/2022 – pugsealentertainment



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19 COMMENTS

  1. The words of SBF:

    A surprising amount of legitimacy, for what farming could mean you know. Where do you start? You start, with a company that builds a box, dress it up to look like a life-changing world protocol that’s going to replace all the big banks in 38 days or whatever. It does nothing. It’s just a box, and this protocol issues a token. We will call it X token, and X token promises that anything cool that happens because of this box. It’s going to ultimately be usable by a governance vote of holders of the X tokens. They can vote on what to do with any proceeds, or other cool things that happen from this box and of course, so far, we haven’t exactly given a compelling reason for either, ever would be any proceeds from this box. Like I don’t know. Maybe, maybe there will be, that’s sort of where you start, and now what happens. Well X tokens has some market cap right? It’s probably not zero. What, let’s say it’s, you know, $20 million market cap. So you know X tokens being given out each day. All these like sophisticated firms are like, huh, that’s interesting. Like if the total amount of money in the box is $100 million, then it’s going to yield 60 million this year, and X tokens being given out for it. That is a 16% return that’s pretty good. We'll put a little bit more in right, and maybe that happens. And other 200 million in the box. So you know; sophisticated traders, and or people on crypto Twitter or other sort of similar parties go and put 200 million in the box collectively, and they start getting these X tokens for it right, and now all of a sudden everyone’s like well, people just decide to put $200 million in the box; this is pretty cool box right. Like this is a valuable box as demonstrated by all the money that people have apparently decided should be in the box, and who are we to say that they’re wrong about that. Like you know this is. I mean, boxes can be good look. I love boxes as much as the next guy right, and so what happens now. All of a sudden people are kind of recalibrated. Like well $20 million. That’s it. Like that market cap for this box, and it’s been like 48 hours, and it already is $200 million from like sophisticated players in it. (This sounds like a definition of a Ponzi Scheme in SBF's own words)

  2. "Kids are smart and know how to bypass those restrictions", apparently not smart enough not to do it. It comes down to parents instilling common sense and monitoring these devices. Society's unequivocal war against personal responsibility and accountabiliy continues to mask their victimization mentality.

  3. It is such a shame that Taylor Riggs had to leave Bloomberg because of a lack of opportunities and Emily Chang is still working at Bloomberg…lets make America China-free, no more China, no more Chang…

  4. (note: a suggestion of not using these phrases in any future "Bloomberg Technology" show (unless either one of them were to be part of a quotation of a certain source outside of any future such show (such as a quotation for a news report)): "content creator" (or content creators) and "nerd out")

    (reason for this suggestion: the part of this video between these points of its length: 40:0040:10)

  5. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market. i was at a seminar and the host spoke about making well over $3.5M within a short period of time investing in Cryptocurrency

  6. I’m so opportune that irrespective of the economy crisis and financial conditions I am still able to earn $19,500 returns from my initial $6,500 every 10 days. Crypto investment is the really profitable…

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