osho on Nostr: There is a lot of rehypothecation in the space, it's a house of cards. Bitcoin went ...

There is a lot of rehypothecation in the space, it's a house of cards. Bitcoin went up and people would take credit agains it to put in Ethereum, then Ethereum allowed creation of millions of shitcoins. You would take credit against your Eth and pump and dump scamcoins. You make a contract for 1 billion X coins. You buy 1 yourself for $1, and the market cap is $1bn. When enough people buy, you cash out and create another one, rinse and repeat. Exchanges like Binance are a part of the whole thing, paying anon devs to create the contracts, then they shill them on twitter, list them on Binance... Devil shit, blood money. The market cap coule be "trillions" but you can't cash it out, so Saylor tells you to buy and never sell. The dude lost billions in the dot com bubble and lied to his investors by cooking the books.