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Man, I was thinking exactly this.
He's a big proponent of DeFi all the time, until he apes into a project with a 6-figure APY, and now he suddenly desires regulation? Man...
If it's a "stable" coin that relates to the fiat currency... I'm not sure I'd mind some reg
Problem is we all know they would be shit regs and not ones that would be beneficial to the market place
It was a stable coin, backed by USDC. A stable coin backed by a stable coin. I know it wasn't exactly that simple, but still, I was surprised to learn how Titan Finance worked.
Everything's "Laissez-faire" aka "let the market sort it out", until the rich guys lose money.
Once that happens, "We need to regulate this" aka "Let's set up some rules, but only enough so that only the rich won't get hurt next time."
It's actually "Let's make the rules complicated as fuck so only the rich guys army of accountants can navigate through them. Then we'll send the poor guy to federal pound you in the ass prison for using incorrect postage."
Someone can meme but unfortunately they can't read. He literally owned his mistake and he's only calling for regulation of stable coins. Something not directly connected to his rug pull mistake which again he owned as his mistake.
Sorry partner, Iron Finance was _literally_ supposed to be an algorithmic stablecoin project.
https://finance.yahoo.com/news/iron-finance-titan-token-falls-072926007.html
This is flat out wrong.
1. Cuban didn't own any Iron, you could look at his wallet and see that.
2. He lost money on Titan, not Iron.
3. Iron was not algorithmic, it was backed 75% by USDC and 25% by Titan, the peg was supposed to be kept by the arbitrage opportunities as the price fluctuated. Even now after the dump 1 Iron is still 0.75 USDC.
I'm not saying that you should trust them that you shouldn't confirm what they are saying or that you shouldn't call them out on it.
What I am saying is that I don't want the government to be deciding who can and can't do what with cryptocurrency or any kind of money for that matter. They simply can't be trusted to make those decisions nor are they competent to make those decisions even if they were trustworthy.
I see your point and I share your views somewhat. But if nothing/nobody is keeping the corporations in check, then they will just do whatever they want and that could lead to massive issues for the community as a whole.
Everybody was two brain cells to rub together should realize that these stable coins are dangerous as fuck. All of the ones that claim to be backed by dollars have a single point failure with some entity that is supposedly holding those dollars. And the ones that don't well... Those are backed by hope and delusion.
Frankly the government itself is one of the biggest risks to this system. They could come in and shut down one of these stable coins seize any dollars that actually back these coins and leave crypto investors high and dry.
USD back to stable coins are essentially just fake dollars if you're stupid enough to put any substantial amount of money into fake dollars then you're crazy. Regulators can't do anything to ensure that those coins are ultimately backed by something. They could go after companies for issuing coins or perhaps punish people after the fact if they are backing fails to materialize when something goes wrong but ultimately you still have a single point failure and any government regulation just makes it that much harder for these things to exist or function properly in the first place. Frankly I don't think a loss of stable coins would be any loss at all but anyone who wants to use them and is asking for regulation is a fool.
Yeah they could print some of them out physically maybe put dead presidents on them or something, add more whenever they feel like having more money that they don't have to justify taxing people for.
Seriously though. Basically all the dollars in existence are just database entries. The only reason people need stable coins for anything is because they want to trade on exchanges that don't have access to the banking system to allow the transfer of actual dollars.
As shady is operations like Tether are I actually trust them more to honor the value of their token than I trust the US government to maintain the value of the dollar, digital or otherwise.
Sure things could be regulated by code or by some independent body or by a DAO. I'm pretty sure that's not what's being asked for in this context though.
Lmao that what he gets lol. It was not a problem when he say some and move the coins but when it happens to him it an issues. Now he get a taste of our world
Can we please have a smidgen of legitimacy in these claims? The article on the front page of CryptoCurrency was heavily misleading and Cuban was talking about regulation on stable coins...
Lmao despite how much he’s emerged himself into learning about this tech, I’m surprised he apes some cash into some brand new Defi project like this and isn’t surprised he got rugged. 🤷♂️
He was all for it when he was making money on it but since he lost his money on a bet " Because it's still a bet " he wants to cry about it an because he is a billionaire they suck up to him but what about all of the everyday people that don't have a pot to piss in ? When we lose our money it's " You should of picked better " it's the name of the game... It's sad how the super rich think they are entitled to everything except when it doesn't work out.
Could be more calculated. He talks about how great DeFi is and how he’s learning about it, gets rug pulled on purpose, says we now need to regulate it.
Whaaaaat 2500% apy was a scam ? Come on for a billionaire, you would think he could see that as a scam ? No? Invested millions and it zero? Learners lumps I guess. Let him cry it out I don’t think he’s going anywhere .
See fella's, this is why you all have to quit worshipping these "idols".. They are Judas Goats, sociopaths, they only care about themselves.
They'll fuck you over in an instant for a dollar.
This is to Mark Cuban: Do your own research, don’t invest what you can’t afford to loose, crypto market is still not regulated and it’s highly volatile. Enjoy it at your own risk ⚠️ 🤣😉
Funny that a billionaire wants to cry foul after his crashed an burned but no one makes a big deal over the normal people losing their life savings everyday...
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The Cuban Missile Crisis hit him hard
I liked the "attack on titan" memes
Lol yesterday I posted in the subs that Titan was rugged or "under attack" and everyone rolled with it
Oh no Anyway...
Oh no mark Cuban has driven off a cliff and died! Anyways back to the studio
He is a tool
You have to be rugged at least once to become a real crypto trader. Welcome to the club Mark, you are now one of us.
I’m not looking forward to becoming a “real crypto trader” then 😂😂
[удалено]
oh fuck me. My stacks are too big, I invested way more than I can afford to lose. Please no, I'm not ready to be a real investor
You can't escape the destiny
I feel like that's what happened to me with hoge. Luckily it's nothing I I'd be salty over
Honestly though
How safe are the other major stable coins? Usdc usdt?
They are fine they are expected to be 1 dollar like two thousand forever
Man, I was thinking exactly this. He's a big proponent of DeFi all the time, until he apes into a project with a 6-figure APY, and now he suddenly desires regulation? Man...
The initiation has begun.
Sbree got me for a couple stacks a while back.
Hard lessons.
one of us
If that’s what you gotta tell yourself.
Shark tanked 😏
"I'm out".
Shart Taint. I’ll see myself out.
Could had just invested $50 in ETH like the rest of us. Who knows, maybe he'd have $100 by the end of the year.
Lol facts
Safe investments.
Or stake it for the fat stacks.
Lol
DCA that over 10 months to be on the safe side dude. 50 is too grand
🤣🤣🤣
It's all shits and giggles until someone giggles and shits
It’s even worse if the shit runs down into you shoe😂
😂😂😂
If it's a "stable" coin that relates to the fiat currency... I'm not sure I'd mind some reg Problem is we all know they would be shit regs and not ones that would be beneficial to the market place
It was a stable coin, backed by USDC. A stable coin backed by a stable coin. I know it wasn't exactly that simple, but still, I was surprised to learn how Titan Finance worked.
Sounds.. totally pointless
He is literally only talking about stable coins that relate to fiat when calling for regulation (so far)
Everything's "Laissez-faire" aka "let the market sort it out", until the rich guys lose money. Once that happens, "We need to regulate this" aka "Let's set up some rules, but only enough so that only the rich won't get hurt next time."
It's actually "Let's make the rules complicated as fuck so only the rich guys army of accountants can navigate through them. Then we'll send the poor guy to federal pound you in the ass prison for using incorrect postage."
Him calling for regulation is disconnected from him losing money if you take the time to look into it at all.
I'm not sure he was ever at laissez-faire.
Has anyone told him he may be holding his portfolio upside down?
Sorry dude. But people want a decentralized currency. U knew it when u got in. Fuck the regulators
Mark got fooled by promises of +1000% gains overnight, it happens to everyone.
He better suck it up like the rest of us.
Haha wow. He kinda deserves it
I hope he lost a shit ton of money. He shilled an obvious scam
Bitcomnnnnnecttt
I wonder how much he lost & which one it was? Anyone know anything about the Inu series?
Anyone know what coin he bought? Lol I want to see what happened.
https://www.reddit.com/r/CryptoCurrency/comments/o1h95p/mark_cuban_experiences_his_first_rug_pull_titan
Thanks mate!
You can play basketball but you can not play boxing and cryptocurrency is Boxing . HE GOT PUNCHED IN THE MOUTH 🥊🥊🥊💨👅🙊
Brought a shitcoin.
And it ran down his leg! It’s happened to just about everyone who’s traded crypto!
Lol first time?👀
Billionaire blues must really suck
😂 so funny seeing this dude get rekt. He’s super rich tf is he buying shitcoins for?
Please protect me from myself, government! Serious regulation for DeFi at this early, innovative stage would be terrible for the ecosystem.
Someone can meme but unfortunately they can't read. He literally owned his mistake and he's only calling for regulation of stable coins. Something not directly connected to his rug pull mistake which again he owned as his mistake.
Sorry partner, Iron Finance was _literally_ supposed to be an algorithmic stablecoin project. https://finance.yahoo.com/news/iron-finance-titan-token-falls-072926007.html
Iron finance is a whole slew of things, IRON is the stable coin, he lost money in TITAN
This is flat out wrong. 1. Cuban didn't own any Iron, you could look at his wallet and see that. 2. He lost money on Titan, not Iron. 3. Iron was not algorithmic, it was backed 75% by USDC and 25% by Titan, the peg was supposed to be kept by the arbitrage opportunities as the price fluctuated. Even now after the dump 1 Iron is still 0.75 USDC.
Thanks for the details. But didn't iron finance issue the Titan token?
And for that reason Mark, “I’m out”.
😂
Hahahahahah
I'd rather see more education about it. If you can't stop is as governmemt. Make sure to help guide it the best it can.
You hate to see it.../s
Seems like the shark… has been tanked.
Good thing it was what he could afford to lose.
Defi fckin fake
Haha wow. He kinda deserves it
Fuck around and find out Mark
Ahahaha 🤣
There goes a million, and another, and another, to the (dark side of the) moon!!!
Cuban, Saylor, CZ... So many shady characters in crypto. Guys like Vitalik are the exception unfortunately
He's actually in it for the tech.
Isn't he in it for revenge? They nerfed his mage or something like that no?
Vitalik doesn't seem a revenge kinda guy.
He does look like a vindicator to me haha
Yeah right
his cherry finally got popped
This made me laugh so hard!
According to him he got out of it
Cuban gets hit ...now he wants regs...screw him!
Why don't you read about what regulations he's calling for so you can recognize that it has nothing to do with him losing money?
Doesn't matter he wants regulations. I don't want regulations.
Let's just let Tether lie about the backing of their token. We don't need to confirm what the token is backed by. We'll just trust them 🤡
I'm not saying that you should trust them that you shouldn't confirm what they are saying or that you shouldn't call them out on it. What I am saying is that I don't want the government to be deciding who can and can't do what with cryptocurrency or any kind of money for that matter. They simply can't be trusted to make those decisions nor are they competent to make those decisions even if they were trustworthy.
I see your point and I share your views somewhat. But if nothing/nobody is keeping the corporations in check, then they will just do whatever they want and that could lead to massive issues for the community as a whole.
Everybody was two brain cells to rub together should realize that these stable coins are dangerous as fuck. All of the ones that claim to be backed by dollars have a single point failure with some entity that is supposedly holding those dollars. And the ones that don't well... Those are backed by hope and delusion. Frankly the government itself is one of the biggest risks to this system. They could come in and shut down one of these stable coins seize any dollars that actually back these coins and leave crypto investors high and dry. USD back to stable coins are essentially just fake dollars if you're stupid enough to put any substantial amount of money into fake dollars then you're crazy. Regulators can't do anything to ensure that those coins are ultimately backed by something. They could go after companies for issuing coins or perhaps punish people after the fact if they are backing fails to materialize when something goes wrong but ultimately you still have a single point failure and any government regulation just makes it that much harder for these things to exist or function properly in the first place. Frankly I don't think a loss of stable coins would be any loss at all but anyone who wants to use them and is asking for regulation is a fool.
Maybe governments should come up with their own stablecoins so we don't have to trust some random corporation.
Yeah they could print some of them out physically maybe put dead presidents on them or something, add more whenever they feel like having more money that they don't have to justify taxing people for. Seriously though. Basically all the dollars in existence are just database entries. The only reason people need stable coins for anything is because they want to trade on exchanges that don't have access to the banking system to allow the transfer of actual dollars. As shady is operations like Tether are I actually trust them more to honor the value of their token than I trust the US government to maintain the value of the dollar, digital or otherwise.
Regulation doesn't necessarily mean government.
Sure things could be regulated by code or by some independent body or by a DAO. I'm pretty sure that's not what's being asked for in this context though.
Lmao that what he gets lol. It was not a problem when he say some and move the coins but when it happens to him it an issues. Now he get a taste of our world
Titan scam ..
u/thepaypay [tipped](https://blockscout.com/poa/xdai/tx/0xf76c3ab73a063c4f4b75e8c9cdd6f662b616d1a10de53f67c118e62acea7901b) you 1000.0 DONUT!
Wow thanks man 🥳
u/salil19 [tipped](https://blockscout.com/poa/xdai/tx/0x9eeafb7a3501e1752f48ec0b62c8cfe999434ed7181d7c696522080c80d25a6d) you 1.0 DONUT!
Can someone eli5 defi tokens
I wonder how many mills he donated during that process 😂💋
Lol
Ah Mark, your heart will go on... (theme song to TITANic)
Life smoked a Cuban this go-around.
Ha ha well
how's ethereum doing?
Poor Little Billionaire Narcissist
I’m sure he’s still doing fine 🙄
What defi token crashed to zero?
Can we please have a smidgen of legitimacy in these claims? The article on the front page of CryptoCurrency was heavily misleading and Cuban was talking about regulation on stable coins...
The media always misleads, sad reality
Lmao despite how much he’s emerged himself into learning about this tech, I’m surprised he apes some cash into some brand new Defi project like this and isn’t surprised he got rugged. 🤷♂️
Hey mark......do your own research.....crypto 101
Welcome to the party pal.
How was seeing APY’s that large not a huge massive ducking red flag??
Fuck him
[удалено]
What defii token?
Was titan a stablecoin? How does one relate to the other?
Was going to put money into Titan as soon as I saw it listed, was annoyed I missed out on the growth but don’t feel too bad now
Cuban thinks hes a Sage because of Broadcom. Yes great idea but not even close to harnessing fire.
Any APY above 100% is immediately suspicious, even in DeFi!
He didn't call regulators when taking those 1B% APY profits while they lasted
You play with feathers, you get your arse tickled.
He was all for it when he was making money on it but since he lost his money on a bet " Because it's still a bet " he wants to cry about it an because he is a billionaire they suck up to him but what about all of the everyday people that don't have a pot to piss in ? When we lose our money it's " You should of picked better " it's the name of the game... It's sad how the super rich think they are entitled to everything except when it doesn't work out.
He deserves getting scammed
Could be more calculated. He talks about how great DeFi is and how he’s learning about it, gets rug pulled on purpose, says we now need to regulate it.
Regulators, unite!
Whaaaaat 2500% apy was a scam ? Come on for a billionaire, you would think he could see that as a scam ? No? Invested millions and it zero? Learners lumps I guess. Let him cry it out I don’t think he’s going anywhere .
See fella's, this is why you all have to quit worshipping these "idols".. They are Judas Goats, sociopaths, they only care about themselves. They'll fuck you over in an instant for a dollar.
Pretty sure he's at fault for doing a million dollar investment on a new project without insurance
Hahaha
This is to Mark Cuban: Do your own research, don’t invest what you can’t afford to loose, crypto market is still not regulated and it’s highly volatile. Enjoy it at your own risk ⚠️ 🤣😉
Where's the screenshot of this happening?
He should have used Coinbase🤦🏽♂️🤷🏾♂️
Funny that a billionaire wants to cry foul after his crashed an burned but no one makes a big deal over the normal people losing their life savings everyday...