Board 8 > The future of money

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NsOVeetle
06/22/21 11:25:39 AM
#1:


Im not a financial advisor and know nothing. This should not be taken as investment advice. Always speak with a trusted financial advisor before investing. Do your own research and think for yourself.

This may be the most interesting point in human history, financially speaking. I want to help people take a step back and look at the larger narrative being crafted. Finance is boring, stories are fun.

Ill bet most of you are sick to death of hearing about cryptocurrencies. Those of you who arent are probably heavily invested in them. Since Bitcoins rise late last year its been the talk of the town, but BTC isnt the only crypto making waves. ETHs gone up a lot, and Doge has had a hell of a year thanks to Robinhooders everywhere.

Speaking of, GME and AMC sure have been exciting. I personally wouldnt touch them with a 10 foot pole, but its cool to see average joes make it big in the stock market. Not quite as cool seeing people dump their life savings into literal memes, but I digress. For anyone reading this who followed this whole phenomenon from the beginning, you may remember talks of a silver short squeeze too. Interesting how the media didnt really run with that one.

Man theyve really been hammering home this inflation thing in the news. Maybe its just me but I cant seem to get away from it. It makes sense though, considering how many trillions of dollars are being signed for COVID relief and whatever the hell else. Fucking trillions. Did you know that if you received a million dollars every day since Jesus crucifixion, you still wouldnt have a trillion dollars? Someone told me that a couple weeks ago I thought it was an interesting way to put it. Over one-third of all US dollars ever printed were in the last year alone. It must be fun when your money isnt backed by anything.

Pretty wild how El Salvador just made Bitcoin legal tender. Citizens will tell you this is nothing more than a publicity stunt from their president or prime minister or whatever the fuck doesnt matter hes not the guy making the decisions. It does nothing to help the average person, and its a less efficient payment method than traditional systems, but that doesnt mean there isnt potential here.

The concept of financial inclusion is extremely important. Digital currencies could potentially be used to create a more inclusive economy, to allow average citizens to conduct business in a streamlined, decentralized fashion. Banking the unbanked is a phrase they like to use, usually in reference to developing nations. This is one of the primary arguments pushing digital currencies forward. Its doubly effective: its framed as a tool to create a more level playing field for underprivileged communities, while also not hiding the fact its a method of getting everyone onto the system and giving governments and banks more control than ever.

Crypto has been absolutely dominating the media for a while, right up until they recently started pushing inflation. Everyone familiar with blockchain technology knows its not going anywhere, and will only become more prominent as we see more institutional adoption. But not all blockchains are created equal.

All publicity is good publicity doesnt apply to Bitcoin. What did senator Warren call it, an environmental disaster? Yeesh that sounds harsh. This is an extremely common sentiment surrounding Bitcoin (and Ethereum to a lesser extent) repeated all across the internet. Whether you, the biased individual reading this, believe this claim to be an accurate representation of the facts or not is irrelevant. The narrative on climate change, the green initiative, theyre only getting stronger. Theres no way in hell people are going to accept a new technology that they believe to be detrimental to the environment. When youve got guys like Bill Gates saying Bitcoin is the least energy efficient payment system in history, recognize that its over. When youve got the president of the ECB (bank that runs Europe) saying using Bitcoin as a reserve is out of the question, recognize that its over. And this isnt even the extent of the FUD. Dont forget the criminals and extortionists, asking to be paid in Bitcoin. Dont forget the slow transaction speeds and pitiful transactions per second. Thats not to say I think Bitcoin is worthless; Im just very long on it. Regardless, Bitcoin is only worthwhile as a store of value, and that value is HEAVILY inflated in the current market thanks to the media and Tether.

If you dont know about Tether heres a quick rundown. Stablecoin tied to the value of the US Dollar. 60 billion in circulation, but less than 3% are actually backed by real (and I use that term loosely) US dollars. Most of what backs Tether is commercial paper, debt from who the fuck knows backed by Im afraid to ask. And the Tether to Bitcoin pair is traded more than every fiat to Bitcoin combined. Nothing fishy here, Im sure.

(This next paragraph is mostly conjecture, but I think it adds something to the narrative Im trying to illustrate so I left it in. I mean this whole thing is like half conjecture anyway so w/e)
I dont know if you people are Reddit or Twitter savvy, but people are really anti-work right now. Wages have stagnated, working conditions have deteriorated thanks to COVID, and general motivation is at an all time low. Im a young guy, I know how much people in my generation detest the notion of working for some fucking company, 40 hours a week for 50 years. Its untenable. Factor in the generous stimulus checks and unemployment bonuses, and you have a generation completely disillusioned with the idea working. Im of the opinion that COVID stimulus is the beginning of what will become UBI, universal basic income. I mean, whos gonna argue against free money? Just say ok boomer to the old fogeys complaining and never worry again, the states got your back. The best way to officially roll out UBI would be a government-issued digital wallet, so I dont expect anything like this until weve begun transitioning to a digital economy. Soon enough.

The media isnt random, and its even less so about reporting the truth. It exists to tell a story, to paint a narrative for all the guys and gals and nonbinary pals unfortunate enough to be listening. Its not a coincidence that cryptocurrencies have been at the forefront while the traditional economy has begun to implode. Crypto is the already primed solution to a problem weve yet to see the full extent of. Somethings got to give eventually, and when it finally does its going to be really ugly.

So what exactly am I getting at? Thanks to things like GME, Dogecoin, and COVID stimulus checks, the general population is more aware than ever that money isnt real. At the same time, cryptos being shoved down all of our throats, but not without an intense smear campaign against Bitcoin. Its when everyone gets wise to the scam that a ponzi scheme will pull the plug.

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NsOVeetle
06/22/21 11:25:49 AM
#2:


I foresee a crash. Not a hot take, but you should know its inevitable and rapidly approaching. The system backed by a dollar backed by faith cant go on much longer. The endless printing isnt just a boomer talking point, it has real consequences. I dont know the details because Im not smart but Im thinking a major liquidity crisis at the very least. The USD has abused its status as the world reserve currency for too long, and I dont think an individual nation will ever have this kind of power again. No longer will we all be subject to Americas whims, printing more and more dollars out of thin air. The world will come together to promote a different system. A combination of new and old, of classic and cutting edge. Digital currencies backed by finite resources, likely precious metals, maybe energy resources. Reserves controlled by no individual nation, but an international governing body like the IMF or BIS. SDRs will be the reserve currency of the world, fulfilling Keynes original vision of Bancor. This combination of future and past is the way to get everyone on board. The word gold instantly grabs all the boomers and the word digital instantly grabs the zoomers. Everyone in between will be so economically buttdevastated that theyll accept anything to fix the mess, even when the ones offering the solution caused the issue in the first place. Thats how those in control seize more power time after time, and it hasnt failed yet.

If youve gotten this far youre either familiar with crypto, willing to learn, or just wasting time, so let me drag Ethereum through the mud while Ive got you here. You want me to pay a double digit gas fee to mint an NFT? Sorry, its 2021 and you people still mine? eXpErTs EsTiMaTe 2022-2024 yeah okay 2.0 has officially taken too long. I dont see why any developer today with any sort of vision would develop on Ethereum. It just doesnt make sense when there are countless superior options out there. Especially when those options are compatible the EVM and any project already built on Ethereum can be seamlessly migrated over.

Enter Flare Networks, the biggest thing in DeFi since the term was coined. Spend 10 minutes. Literally just 10 minutes looking into Flare. Try to remain as objective as possible and come back when youre done.
Isnt it something? Let me briefly demonstrate the genius of Flares strategy for market domination using the horseshoe effect.
There are four F-Assets at the launch of Flare: Litecoin, Dogecoin, XRP, and XLM. Ask yourself, who are the primary holders of these tokens?
  • LTC: Boomers who know nothing about crypto
  • DOGE: Zoomers who know nothing about crypto
  • XRP & XLM: ???
Ill let you figure out how the horseshoe applies. Heres a hint: if youre passionate about Bitcoin or Ethereum you might be in the middle.

You can start by looking into the tech of XRP and XLM. Examine what Ripple and Stellar are capable of relative to competing payment networks. What sorts of big names and longtime financial titans they have working for them. Do some research on the ISO20022 payment standard. Then take a look at what companies and institutions Ripples partnered with. Check out R3s Corda, which settles with XRP. Look into what institutions Accenture or Volante, partners of Ripple, work with. Dont forget about Ripples patents.

And wow how about that SEC trial Ripple is dealing with right now? Isnt it a little suspicious that former SEC chairman Jay Clayton announced the lawsuit against Ripple the literal day before he stepped down? Isnt it slightly odd that Clayton went on to work for a a firm dealing in Bitcoin and Ethereum ETFs when he is the reason BTC and ETH are currently considered non-securities? Isnt it somewhat suspect that despite Ethereum offering an ICO before they ever had a functional blockchain, somehow Ripple are the ones facing a lawsuit for securities fraud, while Ethereum is getting preferential treatment from Coinbase with a 2.0 listing even though everyone knows its nowhere near complete???? Its almost as if the average investor is being woefully misled with smoke and mirrors. Its almost as if this lawsuit presents the perfect opportunity for the US government to provide regulatory clarity for digital assets. If you havent taken the time to see how the SEC v. Ripple case is shaking out I highly recommend giving it a glance =)

Look, I could absolutely be a nutcase whos completely off the mark. What urged me to make this topic is how certain I am that Im right about XRP and the financial system in general. I genuinely believe theres a massive opportunity being hidden in plain sight, and I want regular people to be able to take advantage of it. I dont really have a platform, and Ive already told everyone I know, so I figure this is my best method of reaching people. I recognize that this will likely fall on deaf ears, but if I can reach even one person then its absolutely worth the effort. I genuinely believe if one were to dedicate a little time (or a lot) to doing their own research, they would arrive at similar conclusions.

Every persons financial situation is different. It should go without saying that if you need to pay rent, buy food, or support your family, then thats what you do.

If you have disposable income, my unqualified opinion is that its not smart to hold your money in dollars. I am personally hedging against what I believe to be a failing system with precious metals and digital assets that are:
  • Fast
  • Scalable
  • Business/consumer-facing
  • GREEN
  • Have utility
  • Promote interoperability
  • Have an organization behind them to take responsibility


Im not here to argue that my coins > your coins. Im sure lots of you are invested in other cryptos and theres absolutely nothing wrong with that. This space has room for plenty of winners. I just wanted to illustrate how I see the current state of things, and the cryptos Ive mentioned play a key role in that. Ive hardly painted a complete picture, but maybe this can be a jumping off point. I also wanted to dissuade people who are getting into BTC and ETH; I really dont think theyre built for actual use and theyll likely liquidate millions of people after shattering ATHs this next bullrun. I personally believe XRP will not only be one of the most used tokens, but have a high ROI as well. To me it looks like an obvious winner, so I want others to at least have a chance at understanding my perspective. If media traction picks up and you start hearing phrases like level playing field, financial inclusion, or banking the unbanked, I hope youll think of this topic.

Lastly, it never hurts to be prepared for an emergency with non-perishable foods, clean drinking water, and a generator if you can afford it. Thanks for reading my word soup if you took the time. Good luck and God bless.

TL;DR: now time economy bye bye. future time economy digital. gowd and siwvew. maybe enewgy. bitcoin bad. uh DUHHHHHH Flare Networks. Dont let anyone think for you.


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I am the numbah of Veetle. If you wanna see me you gotta Veetle to the heetle, see that beetle? Look, everyone you eatle, you gotta shadeetle. >.
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ChaosTonyV4
06/22/21 11:31:36 AM
#3:


Huh

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Phantom Dust.
"I'll just wait for time to prove me right again." - Vlado
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Aecioo
06/22/21 11:34:47 AM
#4:


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redrocket
06/22/21 11:38:48 AM
#5:


Im not smart and dont really know anything.

*spams board with thesis paper on currency*

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It's like paying for bubble wrap. -transience on Final Fantasy: All the Bravest
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ninkendo
06/22/21 11:41:02 AM
#6:


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X_Dante_X
06/22/21 11:41:59 AM
#7:


thats a lot of words i didn't read
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boring and mundane signature
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redrocket
06/22/21 11:42:05 AM
#8:


Im not saying my coins > your coins.

BTC and ETH bad

Also I still dont know anything.

But for some reason you should read this tower of text anyway.

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It's like paying for bubble wrap. -transience on Final Fantasy: All the Bravest
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Lopen
06/22/21 11:43:44 AM
#9:


The enemy is upon you!

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This is a cute and pop genocide of love!
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redrocket
06/22/21 11:47:55 AM
#10:


Random question, why are we not branding this as the global financial reset anymore?

Did too many blatant crazies dilute that brand?

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It's like paying for bubble wrap. -transience on Final Fantasy: All the Bravest
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GranzonEx
06/22/21 11:49:27 AM
#11:


imagine thinking any of the richest nations willingly agree to back a currency they cannot control

doge to the moon and HODL

am I doing this right

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redrocket
06/22/21 11:52:45 AM
#12:


Also, its literally almost been a year since your global financial reset topic. The SEC action against Ripple hadnt even been initiated when you posted that.

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It's like paying for bubble wrap. -transience on Final Fantasy: All the Bravest
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LiquidOshawott
06/22/21 11:55:50 AM
#13:


I miss this account

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I live on, THROUGH THIS SEASHELL!
VeryInsane's mobile account
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Sheep007
06/22/21 12:04:04 PM
#14:


Is making posts this long some sort of gimmick? I'm no expert on these forms of currency but the idea of the IMF or BIS taking on crypto and putting it forward as the global financial system as an alternative rather than a supplement to printed money is flat out ridiculous. Rich people will not give up what they already have, and while I can't personally predict major financial crashes, I don't think that enough people will come to the conclusion that money is actually worthless with how the world is right now regardless.

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Perhaps the golden rock was inside us all along.
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pjbasis
06/22/21 12:17:34 PM
#15:


Fun fact

This topic could have been called "Money of the future" and still made the same point.

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banananor
06/22/21 12:46:33 PM
#16:


NsOVeetle posted...
Look, I could absolutely be a nutcase
Yes

Slow the hell down

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You did indeed stab me in the back. However, you are only level one, whilst I am level 50. That means I should remain uninjured.
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banananor
06/22/21 12:48:42 PM
#17:


Sheep007 posted...
Is making posts this long some sort of gimmick
Yeah, as far as i can tell this guy is high and trying to pump a coin that he's invested into

I've seen this before. The zealotry- correct or misplaced- is always a little disturbing.

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You did indeed stab me in the back. However, you are only level one, whilst I am level 50. That means I should remain uninjured.
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neonreaper
06/22/21 12:54:34 PM
#18:


I do have some Stellar, hope that makes you proud

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Donny: Are they gonna hurt us, Walter?
Walter: No, Donny. These men are cowards.
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Seginustemple
06/22/21 1:32:31 PM
#19:


if you can't beat 'em, wampum
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You bow to no one, azuarc
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Underleveled
06/22/21 3:16:32 PM
#20:


tl;dr

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darkx
Games beaten in 2021 - 23; Most recent - Spyro: Year of the Dragon (Reignited)
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XIII_rocks
06/22/21 3:19:41 PM
#21:


Well that isn't what I expected

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Not to be confused with XIII_stones.
https://imgur.com/agodP3r
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Tom Bombadil
06/22/21 3:48:22 PM
#22:


more votes

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Radiant wings as the skies rejoice, arise, and illuminate the morn.
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RyoCaliente
06/22/21 4:04:16 PM
#23:


banananor posted...
Yeah, as far as i can tell this guy is high and trying to pump a coin that he's invested into

I've seen this before. The zealotry- correct or misplaced- is always a little disturbing.
I mean, this is all cryptocurrency. The second you buy, you've entered a cult.

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How paralyzingly dull, boring and tedious!
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PerfectChaosZ
06/22/21 4:19:24 PM
#24:


Its not that big of an upheaval. If youre able to heavily invest in bitcoin you werent poor to begin with.
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MarkS222222222222222
06/22/21 4:25:57 PM
#25:


I'm in for $1mil

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This is quite a username I have here.
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Leafeon13N
06/22/21 4:28:05 PM
#26:


This is so much text to say so little.
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Dragonair
06/22/21 4:32:52 PM
#27:


how i mine for fish

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FALCON PUNCH!
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MoogleKupo141
06/22/21 6:00:13 PM
#28:


The world will come together to promote a different system.

lol
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For your Azuarc .
At least Kupo has class and doesn't MESSAGE the people -Dr Pizza
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most_games_r_ok
06/22/21 6:28:18 PM
#29:


I actually tried to read that. Then gave up halfway when I saw there was more than one post for this shit.

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Raka_Putra
06/22/21 7:56:19 PM
#30:


So it's like that huh, I understand now.

< Doesn't understand anything

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Into the woods, but mind the past...
Into the woods, but mind the future!
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foolm0r0n
06/22/21 8:07:28 PM
#31:


is this brohan with this shitcoins again?

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_foolmo_
he says listen to my story this maybe are last chance
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redrocket
06/22/21 9:18:33 PM
#32:


Yup

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It's like paying for bubble wrap. -transience on Final Fantasy: All the Bravest
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ExThaNemesis
06/22/21 9:55:33 PM
#33:


The fact that the top two posts dogged on Ethereum and didn't bring up Cardano in favor of fucking XRP has my fucking jaw on the floor.

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"undertale hangs out with mido" - ZFS
Smash Ultimate Switch Code: SW-6933-1523-8505
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greengravy294
06/22/21 10:32:28 PM
#34:


Time to pile all my money into PUTS on dogecoin

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FL81
06/22/21 10:36:33 PM
#35:


imagine buying a 16 year old account on a dying video game website just to advertise a niche cryptocurrency to a group of people who mostly don't even invest

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NsOVeetle
06/23/21 12:16:19 PM
#36:


https://www.reuters.com/business/central-bank-digital-currencies-get-full-bis-backing-2021-06-23/

On cue.

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I am the numbah of Veetle. If you wanna see me you gotta Veetle to the heetle, see that beetle? Look, everyone you eatle, you gotta shadeetle. >.
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NsOVeetle
06/23/21 12:18:12 PM
#37:


If you think Im trying to pump a coin with a supply of 100 billion by posting on gamefaqs idk what to tell you.

If you dont take the time to investigate youll have no one to blame but yourself. Wishing everyone here the very best.

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I am the numbah of Veetle. If you wanna see me you gotta Veetle to the heetle, see that beetle? Look, everyone you eatle, you gotta shadeetle. >.
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BlAcK TuRtLe
06/23/21 2:10:19 PM
#38:


I can't wait for the useless cryptocurrencies to all crash. I don't think there's a single person with any redeeming qualities that is invested in crypto

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Props to azuarc, the current Guru of the Decade.
Wear this title with pride!
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Nanis23
06/23/21 5:45:17 PM
#39:


Why are there barely any serious posts? I will comment on this soon

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wololo
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Xeybozn
06/23/21 5:50:25 PM
#40:


Nanis23 posted...
Why are there barely any serious posts?

Why would you expect serious responses to an obvious joke topic?
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Congrats to 2020 GotD Guru champ azuarc!
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ExThaNemesis
06/23/21 6:26:28 PM
#41:


NsOVeetle posted...
If you think Im trying to pump a coin with a supply of 100 billion by posting on gamefaqs idk what to tell you.

If you dont take the time to investigate youll have no one to blame but yourself. Wishing everyone here the very best.

Still heavily questioning your motives and research when you leapt from dogging ETH into promoting XRP instead of Cardano.

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"undertale hangs out with mido" - ZFS
Smash Ultimate Switch Code: SW-6933-1523-8505
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greengravy294
06/23/21 6:59:27 PM
#42:


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foolm0r0n
06/24/21 11:50:10 PM
#43:


NsOVeetle posted...
If you think Im trying to pump a coin with a supply of 100 billion by posting on gamefaqs idk what to tell you.
I doubt anyone here knows what you're trying to do at all tbh

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_foolmo_
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