Trust Me, Don’t Trust Trustless Systems

Never trust a trustless person. Trustless people submit trustless systems for your consideration to trust. I think that should be obvious but apparently it is not. Either that, or for some reason (probably an abundance of pharmacological drugs on the market) more people than ever are interested in participating in con artistry. This tells me people have more spare time than ever, and no ideas.

If you don’t trust people, then you should not be involved in the trading business. I mean despite all of my cynicism, I still have faith in humanity itself. Every person in history may fail to uphold the principles we in society actually value, but the move to devalue those principles (because they’re hard to uphold) is pure cowardice. Nobody that pushed that kind of ideology should be trusted until they prove change.

There Is NO Trust In A Trustless System, Dummy

When you enter into a situation without trust, what else are you basing your decision on? Greed? Even in such a case as a greedy person who’s literally going to steal money from a bank, they have to trust those whom they steal with. That is one of the reasons why the opening scene of The Dark Knight when the Joker kills his criminal support staff. It’s a shocking kind of disloyalty from one perspective.

When somebody says, “cryptocurrency is a trustless system,” they are actually smirking in your face telling you it’s a con. That is part of the cult mentality this douche bag box of useless hacks type industry attracts. People that like to get over on their friends, family, and anybody else in their orbit. This lame waste of time (cryptocurrency) also attracts people that are afraid of living life in real life.

You’re Following Psychopaths, Sycophants, Losers, Liars, and Lames. STOP IT.

You’ll often find that people who operate these kinds of scams have a deep emotional scar they’re desperately running away from. Michael Saylor gives off that distinct “I survived a Catholic priest” look in his eyes, for example – and you know exactly what I’m talking about. The Winklevoss Twins will always have to face the criticism that they look like they have sex with each other, and Samuel Bankman-Fried is like a Chucky doll possessed by his sycophantic est-hole parents.

Quick side note if anybody wants a homework assignment: go look into the details of Joseph Bankman and Barbara Fried. What I’m guessing you’ll find is fairly identical imaginary legal careers. Purely academic with no legitimate contract experience, but lots of word-of-mouth clients who would vouch for them if you spoke intimately. You might even see – if you went back to the 70’s or 80’s or 90’s that their original bar admission documents – that they were never lawfully allowed to practice law in the first place.

When a person like Samuel Bankman-Fried got asked, in 2019, about where he got the money to do whatever it was he was doing, the answers should not have satisfied anybody. He claimed to have worked at a prestigious trading firm, but I’ve never seen anybody from Jane Street talk about him. It is possible he lied about that, got press coverage about it in such a large volume that nobody corrected this claim. Seeing that SBF invented “John J. Ray III” – a fake CEO – I would assume his whole life is a lie.

Journalism Can No Longer Be Trusted, It Is An Anti-Competitive Nightmare Now

One of the things that make modern journalism ineffective at helping the public in this situation, is the fact that journalism is a similarly “decentralized,” “trustless” system. When you analyze it, what you see is just anti-competition. SBF enrolled people in an anti-competitive system, at least for the “smart” dumb money involved. People like Kevin O’Leary who thought he’d (like usual) steal money from retail investors. It never occurred to O’Leary, that to SBF, O’Leary too was just a really big sucker.

Here’s the kicker: why is it a big deal that Samuel Bankman-Fried may be a criminal?

You might think that’s obvious. The crypto-apologists all claim they’re different.

Here’s another one for you: why do they have to distance themselves at all?

If cyrptocurrency is a trustless system, that means it shouldn’t matter how evil you are. You shouldn’t even be able to commit crime in their perfect world. Obviously that perfect world doesn’t exist, and many of those apologists would probably submit that to you – a few times in a conversation. But here’s the problem with trustless people – they will literally say anything to get what they want out of you.

Remember, they live in a world where there is no (need for) trust. At least they think they are.

Or, more likely, they act like they think they are. Most people are smart enough to know this.

Here’s The Real Deal, Trust Me

People just often forget, or were never actually told, that the game of a trustless game is getting out before the other trustless people do. When everybody fears everybody else is pulling out, it causes a panic. Like screaming “fire” in a crowded theater, it ends up creating a soft of DDoS attack on banking systems which are not used to being naturally bombarded like that. For a fraud, that’s the end of it all.

Back to the point: why do people in crypto have to act like they’re not Ponzi schemers? They think it will re-establish trust with new suckers who they are trying to induce to invest in their trustless system. But again, cryptocurrency “technology” is supposed to be so good that even if everybody was trying to steal money from each other – they shouldn’t be able to. Turns out anonymity makes it a lot easier to operate those kinds of scams. It also turns out that anonymity makes it easy for somebody like me to operate.

To destroy these scams. The press is on a massive cover-up operation to hide their own complicity but at this point it’s like yelling at an iceberg for sinking the Titanic. It’s going down, folks, whether you agree with it or not. You’re also barking up the wrong tree talking to Bankman-Fried all the time as if he’s actually going to tell you anything. People are baffled why he’s talking so much.

Want to know why? The legal system has been corrupted into a trustless system too.

The kid actually created a mash-up human using the name of a criminal justice school in New York (John Jay) and a man who was involved on the far periphery (after) the Enron bankruptcy (John H. Ray III) in order to pretend he isn’t still running his company. He didn’t even need to do that, by the way. But in matters of bank fraud (which he’s actually dealing with behind the scenes now) it’s more important looking at the officers listed on US state-based companies. “FTX US is…solvent,” is also a lie, guys.

The Banking Dominos Will Fall After The Crypto-Exchanges Dry Up

That only looks solvent because it was just margin calls that tanked things first. But that also drained a lot of the fake collateral, it made SBF clearly a liar – shrinking his pool of funding & destroying the brands he built, and also sparked so many lawsuits it’s insane. But the 1 benefit to SBF talking as much as he’s talking is the fact that in court, whomever sues him is likely to force lawyers to pour over whatever admissions they think he made in public. He is controlling the narrative whether you know it or not.

Trusting trustlessness is ill-advised.

Almost forget, the crypto apologists distancing themselves from SBF while also inadvertently destroying any credibility they built up in the process. They shouldn’t need to claim they’re morally or legally any different. If the utopia they promised were even actually the goal (it isn’t) this never should have happened. There is really not much need to even discuss why cryptocurrency is dumb anymore.

Get A Real Job, Boys

Only losers stuck in the 80’s in their mind even care about this. Real people are worried about actually making money by doing something in the economy that is necessary. This cryptocurrency fantasy has no ultimate goal worth pursuing, nor does it have a genuine leader attempting to bring that into fruition without also attracting massive frauds. At best, it’s an ideal like a unicorn that won’t ever be real and isn’t worth attempting to make real. Keep it as a child’s toy, like Monopoly money. At least you get bragging rights after winning that game. Winning the cryptocurrency game means you’re left with nothing at all.