Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.)

[Mullet Free 40]

aggies leading the way here, unfortunately. 

[Brisketexan 105095]

aggies leading the way here, unfortunately. 

If aggies lead…and you’re following…your life needs some serious re-examination.

A safer play would be “look at what direction aggy is charging towards…then go the opposite direction.”

[elfenix 34230]

the plural of aggy is aggy.  just like the plural of sheep is sheep.

[Mullet Free 40]

This has been coming for a while. 
 

 

[Captainant 27654]

Well at least he had the good taste to take FTX down first

[Chopper 17230]

[Brisketexan 105095]

13 minutes ago, Chopper said:

I mean....the "bro" to end it is really the chef's kiss, isn't it?  It perfectly captures the ecosystem.

[gyroprotagonist 2592]

this is why we cannot grift nice things

just leave us alone to pump and dump as we please.  wtf is it to the US gov really?  We know they don't give an eff about the consumer.

[MonkeyDoughnut 10232]

On 6/7/2023 at 2:55 PM, gyroprotagonist said:

this is why we cannot grift nice things

just leave us alone to pump and dump as we please.  wtf is it to the US gov really?  We know they don't give an eff about the consumer.

Their kickback companies ...err banking friends weren't competitive fast enough so the govt steps in to given then enough time to catch up and be major players.  In a couple years the major crypto exchanges will all be back but run by their deep pocket kickback friends err...  "safe and compliant regulated financial institutions doing it the 'right' way"

[bernorange 8359]

SEC going after alt coins.  Remains to be seen whether courts uphold their actions:

https://www.reuters.com/technology/cryptoverse-security-alert-altcoins-worth-100-billion-dropped-hot-water-2023-06-13/

[bernorange 8359]

A couple developments in the crypto space that I found interesting:

Polkadot is changing their governance model:

https://www.coindesk.com/tech/2023/06/15/polkadot-revamps-governance-system-removes-first-class-citizen-voting-groups/

Seems like this might be a move designed to negate Polkadot's conformity with the SEC's definition of a security.  

~~~

Polygon is publishing an "open database" project called "The Value Prop" showcasing use cases for blockchain technology:

Quote

Polygon Labs, the Ethereum scaling platform, has released an open database that shows positive use cases of blockchain on any application from across the world, it announced on Thursday.

Called "The Value Prop," the database hosts as many as 39 use cases and over 300 applications, with numbers expected to increase. Polygon Labs conceived the project as a “Wikipedia for use cases.”

"This is just the beginning. It's not like this is going to be a stagnant website," said Rebecca Rettig, Chief Policy Officer at Polygon Labs in a pre-launch interview with CoinDesk. "It's going to grow as people see it and say, 'Oh, we want more applications that are on Solana to be listed on here. Please put them up on the website.'"

The clamor for use cases has been growing among regulators as jurisdictions grapple with the challenge of framing legislation that not only supports innovation but also protects citizens.
...

https://www.coindesk.com/policy/2023/06/15/polygon-labs-rolls-out-open-database-for-blockchain-use-cases/

The Value Prop site can be found here:

https://thevalueprop.io/

Edited June 15, 2023 by bernorange

[Spottieottiedopaliscious 108]

This is interesting. Several spot ETFs have been denied, but Blackrock is well connected behemoth. 
 

With my tinfoil hat on just right I see the play as this. 
 

It’s clear bitcoin isn’t going anywhere and can’t be rekt by the government like the rest of crypto. So you first wipe out crypto (in US). Then you approve spot ETF with biggest, most WEF/govt aligned asset manager. As people buy that “safe” instrument, the ETF (and thus Blackrock) acquire massive amounts of bitcoin thereby limiting the amount of actual bitcoin people hold themselves. Then actual usage and movement of bitcoin would be limited. A pretty solid state attack on bitcoin. I expect approval.

 

https://www.reuters.com/business/finance/blackrock-close-filing-bitcoin-etf-coindesk-2023-06-15/

 

 

[Captainant 27654]

a victimhood soaked and grievance filled post that's promoting crypto from a brand new account? Did a new GRUhorn sock just drop?

[Spottieottiedopaliscious 108]

Also, Yellen with some interesting comments the other day. You don’t expect this from the Treasury Secretary. 
 

https://markets.businessinsider.com/news/currencies/dedollarization-dollar-dominance-janet-yellen-usd-global-reserve-share-decline-2023-6

 

"We should expect over time a gradually increased share of other assets in reserve holdings of countries — a natural desire to diversify," she said. "But the dollar is far and away the dominant reserve asset."

 

USD global share of reserves dropped 8% in 2022. 

[Neonmoon 38129]

1 hour ago, Spottieottiedopaliscious said:

Also, Yellen with some interesting comments the other day. You don’t expect this from the Treasury Secretary. 
 

https://markets.businessinsider.com/news/currencies/dedollarization-dollar-dominance-janet-yellen-usd-global-reserve-share-decline-2023-6

 

"We should expect over time a gradually increased share of other assets in reserve holdings of countries — a natural desire to diversify," she said. "But the dollar is far and away the dominant reserve asset."

 

USD global share of reserves dropped 8% in 2022. 

Why don’t you expect what she said from the treasury secretary when specifically asked about de-dollarizarion concerns?

Why do you think US global share of reserves dropped 8% in 2022? (Hint: they answer it in the article you posted)

[Spottieottiedopaliscious 108]

This is funny. Some kind of clumsy SEC op?

 

[Spottieottiedopaliscious 108]

Nice BTC pump over 28k. 

[Spottieottiedopaliscious 108]

30k. You love to see it. 
 

Must be due to the Blackrock ETF application. People seeing it as a green light. We’ll see. 

[bernorange 8359]

Blackrock ETF application is gas poured on simmering embers:

Quote

...
Bitcoin (BTC) is flowing into wallets controlled by illiquid entities, or network participants with little-to-no spending history, at the fastest rate in six months, indicating a bias for accumulation from long-term investors.

Glassnode's illiquid supply change metric, which measures the number of coins held by illiquid wallets on a specific date compared with the same day the previous month, rose to 147,351.58 BTC ($3.9 billion) on Monday, the most since Dec. 19. The total held by illiquid entities has jumped to a record high 15,207,843 BTC, with the tally increasing by 215,000 BTC in the past four weeks alone.

The data shows investors remain confident of bitcoin's price prospects despite continued macroeconomic uncertainty and heightened regulatory risks.
...

https://www.coindesk.com/markets/2023/06/20/bitcoin-is-becoming-illiquid-at-147k-a-month-signals-steady-accumulation/

It's not just BTC though.  Alt coins also rising and some matching or exceeding BTC's 24h move.

[Spottieottiedopaliscious 108]

Also, before this account goes to Valhalla, I still think Riot Leaps are a good way to capitalize in the normie market over the next two years. I’ve bought a bunch of Jan 2025 calls. Good luck everyone!

[bernorange 8359]

On 4/27/2023 at 8:50 AM, bernorange said:

https://www.coindesk.com/business/2023/04/27/tokenization-is-the-killer-app-for-tradfi-jpmorgan/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Stupid JPM and Goldman Sachs.  Don't they know there is no intrinsic value in crypto?  Why they messing around with developing technologies on the Ethereum blockchain?  Dumbasses.  $700 billion is all money laundering - right?

Stupid Bank of America.  They should be listening to the Surly braintrust that knows better.

Quote

Tokenization is just one application of blockchain technology, but it’s the one that could transform financial and non-financial infrastructure and financial markets over the next five to 15 years, Bank of America (BAC) said in a research report Thursday.

“We are on the verge of an infrastructure evolution that may reshape how value is transferred, settled and stored across every industry,” analysts Alkesh Shah and Andrew Moss wrote.

Tokenization is the process by which real-world assets are converted into blockchain-based tokens.

“The tokenization of traditional assets and issuance of assets in tokenized form have the potential to increase efficiencies and reduce costs across an asset's life cycle, improve the efficient allocation of capital, optimize global supply chains, catalyze a new generation of software-as-a-service (SaaS) companies and ultimately drive mainstream adoption,” the analysts wrote.

Bank of America notes that disruptive technology like radio, television and email took thirty years to reach mainstream adoption. It expects a much shorter lag for digital assets.
...

https://www.coindesk.com/tech/2023/06/29/tokenization-is-likely-to-transform-infrastructure-and-financial-markets-bank-of-america/

[Blotto 23498]

Quote

“The tokenization of traditional assets and issuance of assets in tokenized form have the potential to increase efficiencies and reduce costs across an asset's life cycle, improve the efficient allocation of capital, optimize global supply chains, catalyze a new generation of software-as-a-service (SaaS) companies and ultimately drive mainstream adoption,” the analysts wrote.

That is some grade A marketing hype/bullshit right there.

[Parliament 14255]

Quote

“We are on the verge of an infrastructure evolution that may reshape how value is transferred, settled and stored across every industry,” analysts Alkesh Shah and Andrew Moss wrote.

[Parliament 14255]

To the moon!

 

 

https://www.coindesk.com/markets/2023/07/10/bitcoin-could-rise-to-120k-by-end-2024-standard-chartered/

 

[bernorange 8359]

If the SEC approves Blackrock et al BTC spot ETFs and the Fed stops raising rates, BTC is going to get some serious wings ahead of it's next halving event.

[Lord Melbourne 24]

On 6/23/2023 at 8:14 AM, Spottieottiedopaliscious said:

Also, before this account goes to Valhalla, I still think Riot Leaps are a good way to capitalize in the normie market over the next two years. I’ve bought a bunch of Jan 2025 calls. Good luck everyone!

Wow this was a smart post. Riot is up 54% since then. 
 

 

[Captainant 27654]

lulz why isn't this thread in gambooool

[Neonmoon 38129]

4 hours ago, Captainant said:

lulz why isn't this thread in gambooool

Gambling is wagering something of value on a random event. Bitcoin is based on FOMO

[washparkhorn 9939]

FTC warning with Celsius settlement:

[hayden_horn 11362]

On 7/11/2023 at 7:03 PM, Parliament said:

To the moon!

 

 

https://www.coindesk.com/markets/2023/07/10/bitcoin-could-rise-to-120k-by-end-2024-standard-chartered/

 

is it time to sell my gamestop

[SydneyCarton 48076]

Lord Melbourne looking like the new GRUHorn sock. 

[bernorange 8359]

Ripple got a split decision in its lawsuit with the SEC.  Ruling said crypto sales on exchanges are not investment contracts (securities).

https://www.coindesk.com/markets/2023/07/14/ether-pushes-past-2000-as-xrp-ruling-excites-markets/

Coinbase v SEC also started today.  

https://www.coindesk.com/policy/2023/07/13/coinbase-sec-spar-over-definition-of-securities-nature-of-staking-in-first-court-hearing/

[bernorange 8359]

More dummies talking about the crypto use case for tokenization:

Quote

...

Understanding asset tokenization and its underlying need

A large chunk of the world’s wealth today is locked in illiquid assets. In a survey conducted in the U.S. in 1997, 56%+ of assets held by taxpayers with a net-worth of between $600,000 and $1 million were illiquid11. All else being equal, illiquid assets typically trade at a discount vs. liquid assets, and are characterized by a high stock-to-flow ratio, lower trading volumes and imperfect price discovery vs liquid assets. For example, illiquid physical art assets12 have a stock-to-flow ratio of 28.3 as opposed to 1.11 for liquid Real Estate Investment Trusts13 (REITs)14. Primary examples of illiquid assets include real estate (incl. home equity), natural resources, land, commodities, public infrastructure like mines/ports, fine art, computing infrastructure, private equity etc. On top of that, there are multiple other asset classes which are only accessible to limited wealthy investors/institutions due to constraints on ticket size, e.g., pre-IPO stocks, hedge funds, infrastructure projects, commodities and alternate investment instruments, private credit. The total size of illiquid asset tokenization globally would be $16 trillion by 2030 (Exhibit 5).

Key reasons for asset illiquidity include a) limited affordability of mass investors given high ticket size ranging between $250,000 and $5 million, depending on the asset type (e.g., real estate, bonds, hedge funds), b) inability to fractionalize inherent utility (e.g., sharing living space in a house by 100 investors), c) lack of information to retail/high net-worth individual investors given the lack of wealth manager expertise (e.g., assets like livestock, plantation, alternate investments), d) limited access, restricted to elite cliques (e.g., fine art, vintage cars, vineyard etc.), e) regulatory hurdles (e.g., limitations on investments in certain asset classes to only accredited investors, complicated process of tokenization & custody transfer of assets, strict guardrails on allowing foreign investors in capital markets of certain geographies e.g. Indonesia, and also asset classes that require ownership proof in governmental registers such as real estate where the ownership is recorded in the land register), f) complex user journeys for obtaining access (e.g., KYC and payment set up across multiple platforms with no single interface for the customers) and g) lack of existing, scaled technological solutions to unlock liquidity in such assets.

The concept of traditional asset fractionalization, however, has already existed for several years. Some examples are Real Estate Investment Trusts (REITs), Exchange Traded Funds (ETFs) (with over $5 trillion in asset under management), Mutual Funds, US stock tokenization etc. Traditional asset fractionalization is more focused on vehicles like equity and real estate asset classes.

However, the key limitation of traditional fractionalization is that the impact can only be seen in public markets which are already fairly efficient and high-tech, but not in private markets that are manual, slow, opaque and with high overheads. Additionally, the process of matching capital to investment opportunities in the private markets also involves several steps from finding and qualifying investors and investment opportunities, through the initial capital allocation to the opportunities, to secondary trading of the assets, and the management of the assets, leading to suboptimal customer experience and cost structures.

Understanding the tokenization landscape

On-chain asset tokenization presents an opportunity to obviate many of these barriers of asset illiquidity as well as the current modality of traditional fractionalization. On-chain asset tokenization helps reimagine the end-to-end process of finding and matching investors with investment opportunities, and the subsequent secondary market opportunities once an investment has been made.

It is the process by which an issuer mints digital tokens (each representing a fraction of an underlying digital/physical asset) on a distributed ledger (i.e., blockchain), and guaranteeing transparent and immutable ownership as a result. There are broadly two types of tokenized assets – a) fungible tokenized assets are interchangeable and divisible i.e., each unit of the tokenized asset has the same market value, validity and can be divided into as many divisions as configured during its issuance (E.g., fiat, tokenized securities, crypto currency, gold), and b) non-fungible tokenized assets are unique and non-interchangeable i.e., tokens can’t be replaced with other tokens of the same type as each represents a unique value and attribute (E.g., vintage paintings or vinyl records, housing property, collectors’ cards). Exhibit 6 paints the existing and emerging tokenization
landscape.

However, there is an impending shift from traditional fractionalization to on-chain tokenization, which expands the scope of asset classes, stakeholder groups and regulatory scope for tokenization. Therefore, it is crucial to understand and appreciate the incremental benefit from fractionalizing assets on blockchain-based platforms. ...

More:

https://web-assets.bcg.com/1e/a2/5b5f2b7e42dfad2cb3113a291222/on-chain-asset-tokenization.pdf

[Neonmoon 38129]

I like page 9 where they highlight the key tokenization players like FTX

 

[Fudge Nuggets 19190]

I’ve skimmed some of these tokenization posts but haven’t read them in full so I’m probably way off here. What I gather is all these posts are stating blockchain technology has a definite use going forward but not necessarily a bunch of scam crypto coins. Is that correct?  Because I can agree with blockchain itself being useful. 

[Lord Melbourne 24]

On 7/20/2023 at 6:16 AM, Fudge Nuggets said:

I’ve skimmed some of these tokenization posts but haven’t read them in full so I’m probably way off here. What I gather is all these posts are stating blockchain technology has a definite use going forward but not necessarily a bunch of scam crypto coins. Is that correct?  Because I can agree with blockchain itself being useful. 

It’s all another version of the same trope that first popped up in corporate circles years ago, “blockchain, not bitcoin”.

[bernorange 8359]

Crypto coins are the economic incentive for people to maintain/secure a blockchain network.  

[Neonmoon 38129]

We should go back to the gold standard 

[Bevo 3000 10]

 

[Hefeweizen 5311]

Nice socks, dude.

[Nice Guy Eddie 13510]

On 8/7/2023 at 10:59 AM, Bevo 3000 said:

 

I'm not fully understanding Paypal's intentions with this move. For the American user of Paypal, do they need to use a Paypal stablecoin as opposed to just leaving their money in USD on Paypal? Or is this meant more for non-US based users to transact in something that is almost-USD?

[B00M 6414]

6 hours ago, Nice Guy Eddie said:

I'm not fully understanding Paypal's intentions with this move. For the American user of Paypal, do they need to use a Paypal stablecoin as opposed to just leaving their money in USD on Paypal? Or is this meant more for non-US based users to transact in something that is almost-USD?

I’m not sure either, I used PayPal to convert ethereum and bitcoin to dollars and vise versa without issue over the last couple years. PayPal dabbling in coins at all makes me nervous for PayPal. I converted my modest crypto holdings into physical gold because it accomplishes the same goals without all the risk and bullshit. 

[Nice Guy Eddie 13510]

Sam Bankman Fried held for jail in a bond hearing due to his continued witness tampering. The tampering was in the form of publicly trying to discredit witnesses by leaking stories, emails, etc to the press. The prosecution characterized that as indirecting tampering with witnesses and the judge agreed.

[Parliament 14255]

He really IS a slimy little shit.

[Rudiger 1162]

Wonder if his $250 million bond is going to come due. 

[Another One Bites the Dust 0]

This is interesting. Have to think this guy will come under heavy fire before the general election. 
 

 

 

[Neonmoon 38129]

Please go away

[TreatyOak 16313]

On 8/7/2023 at 10:59 AM, Bevo 3000 said:

 

What could go wrong? 

[Blotto 23498]

50 minutes ago, TreatyOak said:

What could go wrong? 

At long last, the prayers of the tens of people who were awaiting a paypal issued stablecoin have been answered.

[SydneyCarton 48076]

4 hours ago, TreatyOak said:

What could go wrong? 

Nothing if they hire Alec Baldwin to advertise for it.