Welcome to the Hardcore Husky Forums. Folks who are well-known in Cyberland and not that dumb.

What a difference a day makes

Bendintheriver
Bendintheriver Member Posts: 7,020 Standard Supporter
in Tug Tavern
We were visiting friends in Miami. As much as I loathe South Beach we went anyway because the young part of our crowd wanted to. We saw the biggest nerds getting out of limo's in front of the latest hot spots while chugging $10K magnums of Louis XIII Remy Martin and $400.00 bottles of Crystal. They were trying to be outrageous and as ostentatious as humanly possible. A total shit show and it was happening every night according to what one server told us. We had no idea what it was all about, but after reading this article, it all makes sense now.

I have never quite understood the bitcoin, crypto deal. I hope some of those nerds cashed out and kept their money.

I played golf with a friend, his bro-in law and his in-laws son. The kid was a total geek and didn't say two words. Horrible golfer, but my friend mentioned that the kid had gotten rich off of the crypto market and had managed to stash some money. After golf we started chatting over a beer and the kids father told us that the geeks friends (fellow investors) were now broke and asking his son for money. Again, I admit I don't know squat about this market, it seems like money for nothing (and your chicks for free) and that hardly ever ends up well but who knows. For all I know everyone got rich and kept it all.

I post this article because I saw firsthand the behavior of these new millionaires and the seeming overnight end to their excesses. It kind of makes this whole crypto thing seem a bit fleeting.

https://www.zerohedge.com/markets/miami-nightclubs-are-starting-miss-rich-crypto-nerds

Miami Nightclubs Are Starting To Miss Rich Crypto Nerds

Among all those suffering from the chaos in crypto...we can't forget about Miami nightclubs.

Yes, apparently the South Beach hotspots are starting to miss the business young awkward crypto millionaires and billionaires, according to a new report from FT. The clubs had formerly been "inundated with phone calls from cryptocurrency entrepreneurs that no one had heard of," the report says.

Those days are long gone.

He continued, talking about the excess which has now been washed back out to sea: “They wanted to show that they didn’t have any limits. They were ordering 12 or 24 bottles of the most expensive champagne and just showering themselves without even drinking.”

One group, who claimed to have sold their crypto company, even paid a more than million dollar tab at a 50 Cent show in crypto, Gino LoPinto, operating partner at the club, recalled. His club transacted more than $6 million in crypto in the last year, he said.

“They had bathtubs of champagne brought out, and gave 50 Cent a bunch of cash to throw," she said. “You wouldn’t normally show your bank account, but people do show their crypto wallets/ I’ve seen more crypto wallets in a year than I’ve seen bank accounts in a lifetime.”

Now, the crypto club-goers have “completely disappeared”, Vimercati says. LoPinto noted that his club has only processed $10,000 in crypto transactions in the last 3 months.

Alan Roth, owner of Rosa Sky rooftop lounge, added: “On the bigger crypto weekends, the groups coming in for private buyouts were these young tech guys. A buyout costs anywhere from 20 per cent to 50 per cent more than we would make on a normal night.”

Brett Harris executive director of luxury sales at real estate firm Douglas Elliman characterized the boom: “It was revenge of the nerds.”
· Share on FacebookShare on Twitter
«134

Comments