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Trolly_McTrollface.yml
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Trolly_McTrollface.yml
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#############
# Quotes from Trolly McTrollface
# see https://twitter.com/tr0llytr0llface
#
# I said Bitcoin is a Ponzi scheme before it was cool.
# Buying magical virtual coins from mysterious people on the Internet will not make you rich.
- quote: |
Congrats on writing about Bitcoin's price without mentioning Tether ($USDT).
It's like writing about bond yields without mentioning inflation and the Fed.
date: 2020-12-06
source: https://twitter.com/Tr0llyTr0llFace/status/1335550379384315904
- quote: |
People will believe anything, as long as it gives them an easy answer
to the most important question in the universe: "How can I become rich quickly and without working?"
"International reply coupon exchange" sounded just as cool and mysterious as "censorship-resistant money".
Fitchburg Daily Sentinel News Headline (July 11, 1920):
PONZI WILL NOT REVEAL BUSINESS SECRET
date: 2018-05-01
source: https://twitter.com/Tr0llyTr0llFace/status/991330762178924544
- quote: |
The crypto cartel's smartest propaganda move was to create the HODLer culture.
By glorifying the act of doing nothing, they reached out to the self-entitled,
lazy millionaire wannabes.
Every Ponzi scheme relies on the hope that investors won't sell.
This one's just too obvious.
date: 2018-05-17
source: https://twitter.com/Tr0llyTr0llFace/status/974939067803631617
- quote: |
Crypto split: the act of telling regulators that your token "isn't a security
or a currency, it's no more than a database entry, really - people who buy it
must be morons!", while simultaneously telling your investors
that they're somehow buying a stake in the Next Big Thing.
date: 2018-05-03
source: https://twitter.com/Tr0llyTr0llFace/status/992023195493568512
- quote: |
Bitcoin maximalists make me laugh with their pitiful P&Ls.
I found a weird stone the other day,
and we've been buying it from each other with a friend, ever since.
I'm up $57 000 last week alone.
Some idiots told me I couldn't sell my investment, well, WHY WOULD I? It's going up!
> Austrian Maximalist comments:
> It can't be a bubble, not everyone has bought the stone yet. NO BUBBLE
date: 2018-04-24
source: https://twitter.com/Tr0llyTr0llFace/status/988855025270251520
- quote: |
Bitcoin user guide:
1. Buy Bitcoin.
2. Never sell Bitcoin.
3. Don't listen to Bitcoin critics.
4. Tell your friends to buy Bitcoin.
5. Tell your friends never to sell Bitcoin.
6. Tell your friends not to listen to Bitcoin critics.
7. Remember that Bitcoin isn't a pyramid scheme.
> Austrian Maximalist comments:
> 8. See super-rich legendary investors like Tudor Jones, Stanley Druckenmiller,
> Michael Saylor, etc. who wouldn't fall for mere pyramid schemes, buy and hold Bitcoin.
date: 2020-11-23
source: https://twitter.com/Tr0llyTr0llFace/status/1330950190556188676
- quote: |
> SEC Investor Education:
> - Don't understand an investment?
> - Don't invest in it.
Yes, but what if there's only 21 million of it?
date: 2020-09-09
source: https://twitter.com/Tr0llyTr0llFace/status/1303766923109380097
- quote: |
Over last week:
Bitcoin: +$1,000
Bitcoin hashrate: -20%
Tethers ($USDT) printed: $650 Million
Bitcoin shills: Hear nothing, say nothing, see nothing.
date: 2020-11-05
source: https://twitter.com/Tr0llyTr0llFace/status/1324284133468786688
- quote: |
> Austrian Maximalist asks:
>
> I took out a $46,250 loan today at 7.9% and bought 2.55 bitcoin. By 2026 I will have
> to pay back $57,806.85.
>
> In Dec 2026, If bitcoin is at $22,669.35 I break even [and at $0 I lost it all].
>
> Q: Good / bad decision?
A: Never borrow to invest or gamble.
date: 2020-12-12
source: https://twitter.com/Tr0llyTr0llFace/status/1337682085260132352
- quote: |
Since Tether started the exponential printing of its USDT coin eight months ago,
USDT has lost 80% of its value.
The trick was to make people believe that 1 USDT = 1 USD.
Which, because nobody can sell their USDTs, wasn't that hard.
Crypto is the Hotel California of financial assets.
date: 2020-11-20
source: https://twitter.com/Tr0llyTr0llFace/status/1329745341760106496
- quote: |
So far this year,
US monetary base is up 42%.
The amount of $USDTs outstanding is up 311%.
The Fed stopped when they got asset prices back to where they were pre-COVID,
because that's its job: stability.
Tether didn't stop, because that's its job: pump until fear of missing out (FOMO) then cash out.
date: 2020-11-23
source: https://twitter.com/Tr0llyTr0llFace/status/1330872747518472196
- quote: |
Tether on brink of second bailout for Bitcoin.
date: 2020-11-27
source: https://twitter.com/Tr0llyTr0llFace/status/1332405609065553920
- quote: |
Is this real life?
> Paolo Ardoino (Chief Money Printer @ Tether) writes:
>
> Tether $USDT Growth:
>
> 20/02/2019: 4 billion
> 11/03/2020: 5 billion (20 days)
> 26/03/2020: 6 billion (15 days)
> 18/04/2020: 7 billion (23 days)
> 6/05/2020: 8 billion (18 days)
> 25/05/2020: 9 billion (19 days)
> 21/07/2020: 10 billion (27 days)
> 1/08/2020: 11 billion (11 days)
> 13/08/2020: 12 billion (12 days)
> 26/08/2020: 13 billion (13 days)
> 4/09/2020: 14 billion ( 8 days)
> 16/09/2020: 15 billion (12 days)
> 22/10/2020: 16 billion (36 days)
> 5/11/2020: 17 billion (14 days)
> 17/11/2020: 18 billion (13 days)
> 26/11/2020: 19 billion ( 9 days)
date: 2020-11-30
source: https://twitter.com/Tr0llyTr0llFace/status/1333482167943524355
- quote: |
Bitcoin seems to have reached a permanently high plateau
of one billion new tethers ($USDT) [printed] every two weeks.
> Fact Checker comments:
>
> 75% of all $USDT in circulation have been "printed" in the last eight months.
>
> What a specific moment to start going parabolic, right?
date: 2020-12-01
source: https://twitter.com/Tr0llyTr0llFace/status/1333835035758235655
- quote: |
The only way to pay out old Bitcoin investors is to get money from new investors.
The only difference with a genuine Ponzi scheme, is who pays the old investors.
It's not the "fraudsters", but exchanges. Neat!
date: 2020-12-30
source: http://www.tr0lly.com/bitcoin/bitcoin-is-not-a-literal-ponzi-scheme/
- quote: |
One argument against Bitcoin being a Ponzi scheme, is that there's no intent to deceive.
Really? You have thousands of Bitcoin "personalities" spewing out crap daily.
> I believe gold is sunsetting, whereas bitcoin is just starting.
>
> I believe the current (or what I call the legacy) system is broken.
> And bitcoin fixes this.
>
> -- Changpeng Zhao ("CZ Binance"), Bitcoin Billionaire, Binance Exchange Founder
date: 2020-12-30
source: http://www.tr0lly.com/bitcoin/bitcoin-is-not-a-literal-ponzi-scheme/
- quote: |
For the next three and a half years, block rewards will be worth 6.25 Bitcoins,
or around 200,000 USD at current prices.
Remember – there's one block reward every ten minutes, so that's $28M per day.
That's a lot of money, and a huge incentive for miners to buy new ASICs and run them, burning electricity.
[...]
In a perfect market equilibrium, the cost of mining Bitcoin is equal to the rewards.
It's never the exactly the case, but it's a good rule of thumb for evaluating how much it costs to run the network.
date: 2020-12-30
source: http://www.tr0lly.com/bitcoin/bitcoin-is-not-a-literal-ponzi-scheme/
- quote: |
Forget the meme that "Bitcoin transactions are cheap".
The true cost of a transaction isn't the "transaction fees" - those are indeed manageable,
a few dollars per transaction - but the cost of maintaining the network.
As the Bitcoin network currently processes around 300,000 transactions per day at a cost of $28M
(plus transaction fees), the true cost of one transaction is around $100.
date: 2020-12-30
source: http://www.tr0lly.com/bitcoin/bitcoin-is-not-a-literal-ponzi-scheme/
- quote: |
Over 200 cryptocurrency exchanges live off of trading fees.
Transaction fees and bid/ask spreads, multiplied x-fold when traders put on leverage,
stand for billions of dollars per year.
It's safe to assume that exchanges make more money than miners, as a whole.
date: 2020-12-30
source: http://www.tr0lly.com/bitcoin/bitcoin-is-not-a-literal-ponzi-scheme/
- quote: |
Now you have Tether and USDT. 22 billion almost dollars governed by a five-page disclaimer
that USDTs are backed by whatever Tether wants, at whatever valuations Tether finds convenient.
No credit rating, no bank, no auditor, no offices, no CEO and CFO, no guarantee whatsoever.
date: 2021-01-08
source: http://www.tr0lly.com/uncategorized/tether-heads-i-win-tails-you-lose/
- quote: |
The USDT/USD peg is founded on the premise that people won't try to cash out en masse.
As long as they don't, USDT printing can continue.
date: 2021-01-07
source: http://www.tr0lly.com/bitcoin/the-tether-press-and-bitcoins-speculative-mania/
- quote: |
Why should Tether spend all its money (it is theirs, after all -
USDT holders don't have a legal claim on Tether's reserves)
trying to save the crypto markets, when they collapse?
How many years would it take them to rebuild their war chest,
assuming that crypto bounces back?
Why not party on a yacht in Monaco instead?
date: 2021-01-08
source: http://www.tr0lly.com/uncategorized/tether-heads-i-win-tails-you-lose/