Critical Thinking Brain

How do you exit from defi to real dollars?

Have that DAO buy unsigned winning lottery tickets

Why do other groups get to pander the government for benefits to their group at the expense of others and still claim they are victims?

I include a clip of Michael Crichton answering a question about why he saw environmentalism as a religion. 

Religion and ponzi's?

https://medium.com/atheism101/religion-as-a-ponzi-scheme-da49f3e39e5a

You don't want to be the one pumping ponzi schemes. 

Bitcoin doesn't create any value, it is only a wealth transfer. Bitcoin winners take money from bitcoin losers.

The people that will get in trouble or sued in the future by people that lose money in bitcoin are the people that fraudulently induced the buying. 

You can't say invest in bitcoin.

You can't say bitcoin is a long term store of value.

When is being wrong not illegal? When is being wrong fraud- when it is obvious? Not sure.

If you are in the investment business and run a fund you know the definition of an 'investment' or at least a legit investment.  Probably fraud to then call bitcoin an investment.

Vs. making price predictions- that is a forward statement that know one can factually know. Not usually illegal.

This video lecture was uploaded from 1981 on ponzi's by Finance Professor John Zdanowicz-- Transcription at the bottom.

This clip made me realize a ponzi is illegal because it is an illegitimate investment type. Meaning it doesn't produce a return like a business or stock and it isn't a real commodity like gold with consuming demand.

Ponzi is just a type that describes how some of the people get a return from new investors coming in, but that eventually the math doesn't work and it falls apart.

I focus on this argument when thinking about bitcoin. Not that it is 'decentralized' or that the fraudulent inducer is the one selling the bitcoin to the victim..  The promoter or inducer is tricking or conning people into thinking it's legitimate when it isn't.

----

Youtube source-

https://www.youtube.com/playlist?list=PL4BE7CC5B9365E7AA

The following political commentaries were produced by Dr. John Zdanowicz in 1981.  At that time he was a Professor of Finance at Rochester Institute of Technology.  A student in his class was a weekend anchor on a local television station and he recruited Zdanowicz to produce and deliver the following political commentaries.  John Zdanowicz was the Chair of the Rochester chapter of the Society for Individual Liberty, Vice-Chair of the Monroe County Libertarian Party, and a candidate for the New York State Assembly.  Zdanowicz was a Faculty Associate of the Cato Institute and a participant at the Libertarian Scholars Conference at Princeton University.  He was an invited speaker at the Canadian Libertarian Party Convention and the New York State Libertarian Party convention.  Zdanowicz earned his Ph.D in finance from Michigan State University.  Email: [email protected]

Transcription

As a professor of finance, I generally refrain from giving investment advice. However, I will tell you

about investments that should be avoided because they're sure losers. Now there's a group of

investments that some unscrupulous people will try to sell you that are based on a concept concept

that we in finance call the bigger fools theory. Now these investments are commonly known as Ponzi

schemes, pyramid schemes, or chain letters. Now they generally begin with some flim Flam artists

who convinces you to buy into the scheme.

Of course, his beta is the promise of large amounts of money in the future. And once you've

swallowed his scheme hook, line and sinkinger, then your job is to convince others to get hooked and

the chain goes on. Now the money that people pay to buy into the game goes directly to the people at

the beginning of the chain or at the top of the pyramid. Now notice that none of this money ever gets

invested in anything. And the obvious problem with chain letter schemes is that if you buy in farther

out into the chain, then you have to find an even bigger fool if you expect to get your money back.

And of course, eventually the chain collapses because we run out of bigger fools. Abelin said it best.

You can't fool all of the people all of the time. So buyer beware, don't you be a fool and put your hard

earned money into one of these flim Flam operations. And remember, a real investment is where your

money goes into some productive activity, not where your money goes directly to someone who put

their money in before you.

Of course, some of you will still be foolish enough to ignore this common sense advice. So in order to

protect you from your own foolishness, our political leaders passed laws banning all Ponzi schemes,

all pyramid schemes, and all chain letters except Social Security. This is John Zanowitz for 530

A ponzi definition- the essence

Fraudulent inducement

Deception

Apollo Robbins 

Fraud article- the Atlas Society-  Understanding Force and Fraud

https://www.atlassociety.org/post/understanding-force-and-fraud

Ayn Rand definition of fraud-

http://aynrandlexicon.com/lexicon/fraud.html

Who is responsible

Hodl

pumpers

promoters

bitcoin mining council is centralized

What makes this ponzi unique is you can be in the middle- profit from it-- just don't be the one to promote it

https://twitter.com/Itsjoeco/status/1484153348903292932?cxt=HHwWiMCymfDm4pgpAAAA

https://twitter.com/jchervinsky/status/1483506874242801664?cxt=HHwWgIC90YzpvJYpAAAA

https://aksjefokus.no/wp-content/uploads/2020/08/MGT-848-01-Financial-Fraud-A-Forensic-Approach-Spring-2-2015-1.pdf

How much of mining hashrate is done by blacks? Will quotas be mandated.

I will add the number one tool for growing gov power is by saying we need to fix racial discrimination. 

Not if they don't accept individualism. 

Public defenders are giving bad advice to black defendants if they tell them to accept a plea deal. 

Choking the criminal justice system assumes that no additional resources are earmarked toward the criminal justice court process.

Alice Sebold's Lukcy 

Anthony Broadwater exonerated

A new doc called Unlucky

A money making oportunity

Anthony Broadwater team also needs Alice Sebold to confirm that she picked the wrong guy in the lineup etc--- then he can sue the city for wrongful jail sentence and even lessen the blow on the lawsuit for Alice Sebold-- she has got to be in on this...

She ran into him in the street---

or she didn't pick him up in the line up??

If I was the judge I might see what is going on here- a money making opportunity and question the motive of everyone involved (ex producer) of defending this guy and the author's status- and the move coming out and her worth==== this scream unethical opportunism