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Trolly🐴 McTrollface 🌷🥀💩 Profile picture
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10 May, 7 tweets, 2 min read
Monaco owes its VIP status to one man. Not Prince Charles III who built the casino, or Prince Rainier III who brought Hollywood fame by marrying Grace Kelly, or Prince Albert II.
Monaco owes it all to Camille Blanc, the casino operator who made the Monte Carlo casino profitable.
Before Camille accepted the job, the casino of Monte Carlo was a joke. Days would go by without a single gambler coming in. It was a money pit.
Camille changed it all. He only accepted the job after Monaco agreed to pay him 90% of the casino's profits. NINETY F***ING PERCENT.
Still, once Camille did his magic, the remaining 10% was such a bonanza that it was enough for the monégasque government to stop collecting taxes from its citizens - a status Monaco still enjoys today.
How did Camille turn a nameless casino lost in the Alps into such a wonder?
Camille's genius was to advertise the casino's losses. He manufactured tales of travellers coming in, in the middle of a storm to seek refuge, placing one bet for the fun of it, and turning it into a colossal fortune.
He paid actors and rigged tables to make them win, and made...
sure that everyone present saw it.
Whenever someone would win big, accidentally or not, & the table would run out of chips, he would have a big black cloth brought over the table, in a sign of mourning, & the table would remain closed for the night - so much the casino had lost.
The casino's reputation of losing big and often, did wonders with gamblers and celebrities. The casino became famous. Even people who didn't believe that the casino was losing money, would come in and gamble just to be part of the legend.
Camille ran the oldest trick in the book.
The same trick is performed at a three card monte around the world, where shills make sure suckers see them winning.
The same trick is performed in crypto, of course, with Tether printing billions of USDTs and prices "going up".
The legend is there. Just look at $DOGE.

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More from @Tr0llyTr0llFace

Trolly🐴 McTrollface 🌷🥀💩 Profile picture
8 May
💵 💵 💵 💵 💵 💵 💵 💵 💵 💵 2,000,000,000 #Trollybucks (2,000,000,000 USD) minted at Trolly Treasury
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Read 4 tweets
Trolly🐴 McTrollface 🌷🥀💩 Profile picture
2 May
I know Tether and Bitcoin are hard to understand for people who haven't spent 10 years looking at fraud in the face. Here's a more down-to-earth explanation.
Imagine Bitcoin is houses in the desert. The promoter advertised the spot as the New New York, where all the hedge funds
and the banks and the really important people will want to be. A lot of people bought in, but the vision never became real - hedge funds and banks stayed in New York. Nonetheless, the price of the houses rose for some reason.
As the price rose, more people bought in, ignoring the
fact that the promoter's vision didn't materialise. Surely there are other reasons for why the price is going up, other very important corporations who will want to set camp there.
Seeing prices go up, the promoter built more houses. People snapped them up as well.
Read 15 tweets
Trolly🐴 McTrollface 🌷🥀💩 Profile picture
2 May
It looks like the majority of crypto is OK now with USDTs being backed by crypto and not something tangible.
The emerging consensus is "USDTs are so well collateralised after the bull run that there's zero risk. And, if Bitcoin falls, they can always print and pump it back up."
The minority of insiders see the writing on the wall, and are playing along while frantically trying to cash out behind the scenes (example: Coinbase).
But the majority actually believe this nonsense, and are confidently displaying their utter lack of understanding of finance.
The price of crypto today isn't priced in USD, it's priced in USDT, because nobody's trying to cash out into the real world. It 's true that USDTs are overcollateralised today.
However, if more than a few people try to cash out in USD, crypto will start being priced in USD.
Read 11 tweets
Trolly🐴 McTrollface 🌷🥀💩 Profile picture
18 Mar
Anyone who claims that Bitcoin can be a "global settlement layer" doesn't understand Bitcoin.
As is, Bitcoin can be "hacked" by someone who controls a lot of hashpower; by "hacked" I mean that person could cancel the transactions he wants, provided that they're not too old.
This is known as a "51% attack", and the principle is that you perform a big transaction (wire 10,000 BTC to an exchange, sell them & cash out), and use your own hashpower to build an alternative string of blocks, starting with the one containing the block with your transaction.
Once you've cashed out your transaction, you start propagating the blocks you've calculated in secret. If your string of blocks is longer than the string of blocks that has been produced organically by the network in the time it took you to cash out, your "hack" was successful.
Read 11 tweets
Trolly🐴 McTrollface 🌷🥀💩 Profile picture
15 Mar
Chainalysis is doing a tremendous job in convincing everyone crypto isn't being used by criminals.
Their "less than 1% of crypto transactions are criminal" claim has been relayed thousands of times in the crypto & mainstream media.
Of course, this claim is weapons-grade bullshit.
First, their numbers are based on "proprietary methodology". You basically need to trust a company 100% focused on crypto that crypto is legit.
Second, when they say that "x% of transfers are criminal", what they actually mean is "we managed to flag x% of transfers as criminal".
Chainalysis doesn't say what total percentage of transfers they manage to classify. So if they flag 1% as criminal but only manage to classify 2% of all transfers, that's really, really bad.
As a point of reference, in 2019 they classified $20B of transfers as "criminal" - ...
Read 4 tweets
Trolly🐴 McTrollface 🌷🥀💩 Profile picture
10 Mar
A lot of people, some of them extremely smart and knowledgeable in fields other than finance, believe that there isn’t much difference between Bitcoin and stocks or any other financial asset as an investment because “you need someone to buy it from you” in both cases. A thread.
When you buy a stock, the reasoning goes, you do it because you expect you’ll sell it to someone else at a higher price. It’s exactly the same as for Bitcoin. Hence, it’s the same game, right?
Obviously not.
A stock is a share of ownership of a company. This company has assets.
This company has people working hard to generate profits that compound to its assets. Think of your stocks as a claim on a percentage of a bag in which the company’s employees are putting the money they earned for the company every quarter. The bag gets bigger and more valuable.
Read 11 tweets

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