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Claire Voyant

Claire Voyant 14

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Posted
14 hours ago, bernorange said:

He has a vested interest since Blackrock is working on creating a BTC ETF.  

Sure. But I'm of the opinion that, as the CEO of the largest asset manager in the world, he's speaking from the place of a guy that already knows it's getting approved. Blackrock doesn't apply for it unless it's going through. 

If I put on my tinfoil hat, I think Bitcoin may not be seen as a threat, but something that needs to be better controlled or marginalized. One potential step in that direction is getting an entity like Blackrock to be one of the biggest holders in the world via a popular ETF. Then more people hold "paper bitcoin" which you know from GLD is not the same thing.

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bernorange

bernorange 8362

Posted
Posted

FWIW (bold emphasis is mine):

Quote

A false report that the U.S. approved a crypto-based exchange-traded fund led to a bitcoin price rally Monday. However, such products are likely to be greenlighted in January next year, analysts said.

...

The rally was spurred by a now-deleted post on the social platform X by the crypto news service Cointelegraph, which said that the U.S. Securities and Exchange Commission had approved BlackRock BLK, +0.94%’s application for an ETF that invests directly in bitcoin. “We apologize for a tweet that led to the dissemination of inaccurate information regarding the Blackrock Bitcoin ETF,” Cointelegraph said in a follow-up statement on social media.
...
The agency faces a final deadline to respond to ARK Invest and 21Shares’s spot bitcoin ETF application by January 10, 2024, and BlackRock’s application by March 15 next year.

“We believe there’s a 90% chance of approval by Ark’s Jan.10 deadline,” James Seyffart, ETF analyst at Bloomberg Intelligence wrote in a recent note.
...

https://www.marketwatch.com/story/bitcoin-etfs-are-not-approved-yet-but-analysts-think-they-could-become-a-reality-in-january-b237fdae

90% is really optimistic.  I don't believe the SEC is acting in good faith though.  They won't approve until a court forces them to engage honestly IMO.

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Claire Voyant

Claire Voyant 14

Posted
Posted
12 hours ago, Neonmoon said:

Weird. Surprised this wasn’t immediately posted here

Binance halts US dollar withdrawals 

https://www.reuters.com/technology/crypto-giant-binances-us-affiliate-halts-direct-dollar-withdrawals-2023-10-17/

They halted deposits a while back. Don’t have funds on Binance. If you’re an American you haven’t been able to for a while. 
 

Binance blowing up is one more big shoe to drop. The CEO is a wayyy more competent operator/fraudster than SBF was. It will take quite a bit for them to completely blow up. Could still happen though.
 

I’m pulling for you, haters.  

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bernorange

bernorange 8362

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...
Estimates of when exactly the next halving will occur vary, but history indicates it has the potential to occur sometime around April 2024.1 Based on current data,1 signs indicate that crypto winter may be in the past and that crypto spring is likely on the horizon. ...

https://www.morganstanley.com/articles/the-four-seasons-of-cryptocurrency-explained?subscribed=true&dis=em_20231018_wm_5ideasarticle&et_mid=518120&et_mkid=&sfmc_id=175970051

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bernorange

bernorange 8362

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Bitcoin (BTC) will rise to as high as $56,000 if a BlackRock spot bitcoin exchange-traded fund (ETF) is approved, crypto services provider Matrixport said in a report Thursday.

At the low end, $42,000 is a "conservative estimate" based on the assumption that 10%-20% of gold ETF investors will take a stake in a spot bitcoin ETF.

"Assuming that 10-20% of those precious metals ETF investors seek to diversify their investments into BTC," Matrixport said in its report. "We can estimate potential inflows of $12-24 billion into the Bitcoin ETF. While the market cap of GBTC is currently only $17-18 billion, it reached a peak of $44 billion. Therefore, our estimate of $12-24 billion is relatively conservative."
...

https://www.coindesk.com/business/2023/10/19/matrixport-says-bitcoin-will-rise-to-between-42k-and-56k-if-blackrock-etf-is-approved/

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Claire Voyant

Claire Voyant 14

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Legacy markets tanking at the same time as BTC rises alongside gold. It's clearly established as part of the flight to safety trade now. 

 

3 hours ago, bernorange said:

https://www.morganstanley.com/articles/the-four-seasons-of-cryptocurrency-explained?subscribed=true&dis=em_20231018_wm_5ideasarticle&et_mid=518120&et_mkid=&sfmc_id=175970051

Didn't read, but the 4 year cycles have been pretty reliable. With all the geopolitical uncertainty and looming money printing, it's clear 2024-2025 will be big. Catalysts aplenty.

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Captainant

Captainant 27682

Posted
Posted
3 hours ago, Claire Voyant said:

Legacy markets tanking at the same time as BTC rises alongside gold. It's clearly established as part of the flight to safety trade now. 

 

Didn't read, but the 4 year cycles have been pretty reliable. With all the geopolitical uncertainty and looming money printing, it's clear 2024-2025 will be big. Catalysts aplenty.

Lulz hi GRUhorn, how's the new user experience?

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Claire Voyant

Claire Voyant 14

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Posted

a lot of talk that this is final bit of frontrunning of ETF.

Will the same thing happen this time? No way to tell, but interesting.

 

 

Losers and haters in disbelief

 

 

15 hours ago, bernorange said:

It's ripping ATM.

The US government is a huge BTC whale and could dump holdings into the market if it wanted.

Good point. I guess they could sell. Nothing is stopping them. Long term, doesn't matter.

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gyroprotagonist

gyroprotagonist 2594

Posted
Posted
3 hours ago, Claire Voyant said:

a lot of talk that this is final bit of frontrunning of ETF.

Will the same thing happen this time? No way to tell, but interesting.

 

 

Losers and haters in disbelief

 

 

Good point. I guess they could sell. Nothing is stopping them. Long term, doesn't matter.

they would need to go to secret 'whale school' and learn how to properly dump and accumulate to maximize joe-trader pain and work in concert with the exchanges to liquidate public high-leverage positions first.

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bernorange

bernorange 8362

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Posted

Use cases for crypto continue to grow:

Quote

Vodafone DAB and Chainlink Labs Demonstrate the Transformation of Global Trade through Blockchain Innovation

Vodafone’s Digital Asset Broker (DAB) today announced it has demonstrated a proof of concept with Sumitomo Corporation, Chainlink Labs and InnoWave to address longstanding challenges in the $32 trillion global trade ecosystem.

The demonstration focused on the seamless exchange of crucial trade documents across diverse platforms and blockchains. The exchange of trade documents is often complicated by a fragmented system, especially where multiple inefficient or unreliable paper or digital platforms are present with poor interoperability across various sectors of global commerce.

Through their collaboration, the companies used Chainlink’s Cross-Chain Interoperability Protocol (CCIP) with DAB to provide security and interoperability across IoT devices at the edge of a network. This has the potential to provide a single simple interface that enables applications to securely exchange data and tokens across both public and private blockchain networks, as well as IoT networks. For example, a vessel detecting a cargo fire could autonomously relay data to smart contracts via DAB’s platform and CCIP, potentially triggering a marine cargo insurance process.

The concept shows the potential for DAB-enabled IoT devices and blockchains to provide secure, trustable, and tracible data for use in smart contracts and even blockchain and AI applications.

Trade Document Proof-of-Concept

The companies will continue to explore the viability of global trade applications benefiting from DAB’s Economy of Things (EoT) platform. The platform can enable devices to act autonomously as a source of trusted data when supporting trade processes, while also utilising DAB’s capabilities for improved processing of financial transactions.

At SmartCon 2023 conference in Barcelona, Spain, the companies demonstrated the first step in how trading companies could avoid unnecessary delays in moving cargo by seamlessly transferring a digital bill of lading (a legal receipt of cargo) between multiple parties across several different blockchains. It is not uncommon for a bill of lading to pass through at least five organisations.

Jorge Bento, CEO of Vodafone DAB, said: “Vodafone DAB and Chainlink are showing how their platforms can be combined to cut through this sea of incompatibility by bridging traditional markets with advanced decentralised platforms. This ensures seamless and secure exchanges of data and services across the global trade ecosystem, estimated to be worth over $30 trillion last year.”

Vodafone DAB joins the Chainlink Network as a Node Operator

Central to making this happen is Vodafone DAB’s new collaboration with Chainlink Labs, a software services company and primary contributing developer of Chainlink’s decentralised computing platform. The Chainlink platform is underpinned by decentralised oracle networks that deploy nodes, designed to connect smart contracts residing on a blockchain with real-world 'off-chain' events. This allows the contracts to securely interact with and respond to occurrences and data outside the blockchain.

Oracles are the bridge between a blockchain and any piece of data or system that exists outside of it. By becoming a Chainlink Network node operator, Vodafone DAB is playing a valuable role in helping enterprises and businesses to develop and deploy smart contracts, by securing and streamlining data exchange and computation.

“The integration of IoT and blockchains has the potential to provide new monetisation opportunities for IoT devices. 3 billion IoT devices are forecast to be transacting in the economy of things by 2030. Securing consensus and validation between DAB and Chainlink will be important to drive this growth,” said David Palmer, Chief Product Officer of Vodafone DAB.

“Onboarding a world-class infrastructure provider like Vodafone DAB to the Chainlink Networks’ node operator ecosystem helps bring more secure off-chain data and computation to the Chainlink Network to support the wider blockchain economy,” said Thomas Trepanier, Head of Capital Markets, Chainlink Labs.

https://www.vodafone.com/news/technology/vodafone-dab-chainlink-lab-demonstrates-transformation-global-trade-blockchain-innovation

Quote

...
Chainlink's (LINK) token climbed 7.5% in the 24 hours following the news, according to CoinGecko data.

https://www.coindesk.com/business/2023/10/25/vodafone-chainlink-show-blockchain-can-support-global-trade-processes/

 

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bernorange

bernorange 8362

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Deutsche Bank and Standard Chartered’s SC Ventures are testing a system that will allow blockchain-based transactions, stablecoins, and central bank digital currencies (CBDCs) to talk to one another, taking an approach similar to the SWIFT messaging layer in legacy banking infrastructure.

The banks are running a series of test cases, including transferring and swapping USDC stablecoins, on the Universal Digital Payments Network (UDPN), a permissioned blockchain system composed of validator nodes run by an alliance of banks, financial institutions and consultancies.
...
“The UDPN is a network where the affiliation of members is permissioned. But the key thing here is that the transactions themselves are placed onto the underlying infrastructure, which includes permissionless networks,” Thorsten Neumann, CTO of SC Ventures, said in an interview.

For instance, when carrying out a cross-border currency transfer, the sending institution takes the tokenized value and transfers it into a smart contract managed by the UDPN, which will then release the intended target currency from that smart contract, Neumann said.

“There is almost a DeFi-type capability within a permissioned network. It’s important to note this is done without a central organization setting out something like a SWIFT message format,” he said.

The UDPN currently comprises about 25 organizations running around 10 proof-of-concept tests in parallel, according to Steffen Schacher, UDPN lead at GFT Group. That group includes banks from the USA, Australia, Latin America and Europe, he said.
...

https://www.coindesk.com/business/2023/10/26/deutsche-bank-and-standard-chartered-ventures-test-swift-killer-for-stablecoins-and-cbdcs/

This looks to be the most open project of this type that I've seen so far.  It's a permissioned network, so it' going to be limited to central banks and TBTF banks, but the fact that they are building the system to work with stablecoins and all manner of crypto is very interesting.

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bernorange

bernorange 8362

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Ethereum’s Dencun upgrade, likely to take place in first-quarter 2024, is the next step in the blockchain’s journey to becoming a scalable settlement layer, Goldman Sachs (GS) said in a note Thursday.

“Dencun’s primary impact will be to increase its data availability for layer-2 rollups via proto-danksharding, resulting in a reduction of rollup transaction costs which will be passed on to end users,” the bank said.
...
“Dencun will enhance Ethereum’s scalability via rollups,” and will “optimize gas fees and improve the network’s security and implement a number of housekeeping updates,” the report added.

https://www.coindesk.com/tech/2023/10/27/ethereums-dencun-upgrade-is-a-step-toward-a-scalable-settlement-layer-goldman-sachs/

 

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Claire Voyant

Claire Voyant 14

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Posted
On 10/26/2023 at 9:41 AM, bernorange said:

https://www.coindesk.com/business/2023/10/26/deutsche-bank-and-standard-chartered-ventures-test-swift-killer-for-stablecoins-and-cbdcs/

This looks to be the most open project of this type that I've seen so far.  It's a permissioned network, so it' going to be limited to central banks and TBTF banks, but the fact that they are building the system to work with stablecoins and all manner of crypto is very interesting.

Most open, permissioned is an oxymoron. 
 

4 hours ago, bernorange said:

https://www.coindesk.com/tech/2023/10/27/ethereums-dencun-upgrade-is-a-step-toward-a-scalable-settlement-layer-goldman-sachs/

 

I would fully expect banks like Goldman to favor Eth. More centralized and more easily captured over the long haul via proof of stake. 
 

Also, whatever Eth manages to accomplish via scaling, the fact of the matter is it has and adjustable monetary policy/schedule. Controlled via centralized entities. 

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bernorange

bernorange 8362

Posted
Posted
9 minutes ago, Claire Voyant said:

Most open, permissioned is an oxymoron.  ...

Only because you are trying to fit the latter into the former.  It's a permissioned system (participation if gatekept) that apparently can interface with decentralized systems.  Most of the SWIFT type cross border clearing system projects I've seen so far limited themselves to testing for CBDCs only.  This one has made a point to test for public blockchains and stablecoins.  IMO, that's significant if it ends up getting traction with central banks or TBTF banks (and it's sponsored by DB).

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HRSchenker

HRSchenker 2271

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The FTX trial has been nothing short of hilarious to me. SBF has been pushed into a corner to defend every single decision he made. I'm guessing his attorneys realize that this super genius wonder boy can't say "I'm a dumbass and had no idea what was happening at my company" and come across as believable. The real question is how many decades will he spend behind bars? I'm guessing at least 2.

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Fudge Nuggets

Fudge Nuggets 19207

Posted
Posted
On 10/25/2023 at 9:47 AM, bernorange said:

Use cases for crypto blockchain continue to grow:

https://www.vodafone.com/news/technology/vodafone-dab-chainlink-lab-demonstrates-transformation-global-trade-blockchain-innovation

https://www.coindesk.com/business/2023/10/25/vodafone-chainlink-show-blockchain-can-support-global-trade-processes/

 

Again, you are confusing blockchain technology with scam crypto.

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bernorange

bernorange 8362

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28 minutes ago, Fudge Nuggets said:

Again, you are confusing blockchain technology with scam crypto.

Public (decentralized) blockchains are secured (maintained) through a crypto token economy (ie. a crypto coin).  Smart contracts on the Ethereum blockchain (or Ethereum layer 2 networks) would not exist/work without the Ethereum token/economy.  The crypto tokens and staking mechanisms are inseparable from the blockchains.  You can't have one without the other.

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Claire Voyant

Claire Voyant 14

Posted
Posted
2 hours ago, Fudge Nuggets said:

Again, you are confusing blockchain technology with scam crypto.

 

2 hours ago, Captainant said:

[Laughs in git] 

Ahh blockchain, not bitcoin. That goes back several years, as do "enterprise blockchains". Much ado about nothing.

Try the inverse.

https://unchained.com/blog/bitcoin-not-blockchain/

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bernorange

bernorange 8362

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In a recent development, Taiwan has officially announced its intention to recognize Bitcoin (BTC) as a legal tender. This bold move, the first of its kind in Asia, is set to have a profound impact on the global crypto market and is bound to spark conversations about the future of digital currencies in the region.

Taiwan Proposes Crypto Act

Taiwan, a nation known for its technological innovation and progressive outlook, is taking significant strides as it concerns crypto regulation. On October 27, Taiwan’s legislative body formally proposed a draft crypto act for discussion. If this draft is passed into law, it could take effect as soon as next year, ushering in a new era of regulatory clarity in the world of digital assets.

The proposed crypto act was approved at the first reading in Taiwan’s Parliament, known as the Yuan. The new regulations are aimed at addressing various challenges, including concerns about money laundering and consumer protection. Customers who hold digital assets offshore will not have the same level of protection as those using domestic exchanges, as offshore exchanges do not need to adhere to Taiwan’s regulations.

The Financial Supervisory Committee (FSC) is expected to submit its version of the bill soon. If the bill becomes law, all crypto exchanges operating in Taiwan will be required to apply for a license to transact in digital assets. Failure to comply could result in government authorities ordering them to cease operations.

Meanwhile, the second reading of the bill is expected to occur around the end of January 2024. In the meantime, it remains legal to invest in cryptocurrencies in Taiwan. The proposed legislation seeks to make digital asset use more secure, safer, and transparent. It appears that there is overwhelming public support for these regulations in Taiwan.
...

https://www.crypto-news-flash.com/breaking-news-taiwan-to-recognize-bitcoin-as-legal-tender/

I wonder how this might impact US-China relations if it passes...

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bernorange

bernorange 8362

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Billionaire investor Stanley Druckenmiller has become the latest veteran of the financial industry to speak positively about Bitcoin (BTC), likening the top crypto to gold and saying that it has now established itself as a brand that could survive for a long time.

Druckenmiller made the comments during an interview with fellow hedge fund manager Paul Tudor Jones, confessing that he is experiencing a serious case of FOMO (fear of missing out) after missing out on buying Bitcoin at lower levels.

“I don’t own any Bitcoin, to be frank, but I should,” he said, hinting at a possible shift in his investment strategy.
...
While veteran investors have traditionally turned to gold and silver and times like these, the younger crowd has taken a liking to Bitcoin, which Druckenmiller said is a trend that is not likely to end anytime soon.

“I’m 70 years old, I own gold,” he said. “I was surprised that Bitcoin got going, but you know, it’s clear that the young people look at it as a store of value because it’s a lot easier to do stuff with; 17 years, to me, it’s a brand.”

While gold remains the personal choice for Druckenmiller, he acknowledged that younger investors with value to store are increasingly opting for Bitcoin in the digital age.

“I like gold because it’s a 5,000-year-old brand, but the young people have all the money, certainly the ones on the West Coast,” he said.

Acknowledging that he “should” hold Bitcoin is evidence that the investing landscape is beginning to shift towards the younger generations that grew up as digital natives and are looking to upgrade the way they make payments.

He also noted that he had previously held Bitcoin but sold it in response to tightening measures imposed by central banks. He said people could turn to blockchain and digital assets if they lose faith in the central banking system, praising the technology and highlighting the potential for a ledger-based system to replace the USD as the world’s reserve currency.
...

https://www.kitco.com/news/2023-10-31/Bitcoin-is-a-store-of-value-that-could-rival-gold-Stanley-Drunkenmiller.html

 

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Claire Voyant

Claire Voyant 14

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4 hours ago, bernorange said:

https://www.kitco.com/news/2023-10-31/Bitcoin-is-a-store-of-value-that-could-rival-gold-Stanley-Drunkenmiller.html

 

Who cares what maybe the most successful investor of the last 50 years thinks?

 

On 11/1/2023 at 10:47 AM, Brisketexan said:


From the replies….yeah, crypto ain’t another pump and dump scam….

 

 

 

 

Pretty much any tweet, with any kind of reach, on any subject, will have a cringe comment. Irrelevant, but predictable post.

 

It's not often that freaking anyone on the street can front run Blackrock as much as they want. Sure you've had the opportunity for years, but there is one last window now to jump in.

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bernorange

bernorange 8362

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Sen. Warren is a disingenuous actor.

Quote

Shortly after the violence erupted in Israel on October 7, an article in the Wall Street Journal pinned part of the blame for terrorist financing on cryptocurrency. That was all that was needed for Senator Elizabeth Warren (D‑MA) to get over 100 members of Congress to sign a letter calling for a crackdown on cryptocurrency in the wake of this tragedy.

Yet it now seems the initial reporting was exaggerated as the Wall Street Journal issued a correction on October 27 to address some of the issues. However, this incident is not the first time one of Senator Warren’s anti‐cryptocurrency letters has been based on questionable data.
...

More:

https://www.cato.org/blog/warren-targets-crypto-questionable-data-again-0

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bernorange

bernorange 8362

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For @Rimbo:

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Ethereum research and development firm Nil Foundation announced Tuesday that it's coming out with its own rollup network, called “=nil;.”

The foundation says the new network will be Ethereum's first ZK rollup to enable sharding – an alchemy that combines two popular scaling technologies, zero-knowledge proofs and sharding. The combination should enable composability without compromising the security of the network, according to a press release.
...

https://www.coindesk.com/tech/2023/11/07/nil-foundation-plans-ethereum-rollup-with-zero-knowledge-proofs-sharding/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

Quote

...

Key elements include:

  • zkRollup with Sharding: The core of =nil; is a provable sharding protocol, enabling horizontal scalability without compromising security or efficiency. This approach addresses some of the current limitations of vertical scaling (L3, L4, etc.), namely data and liquidity fragmentation.
     
  • Direct Ethereum data access: The ability to call Ethereum’s original data from L2 applications allows us to reuse already deployed applications. Direct access to L1 data from L2 ensures a more unified and seamless environment.

Through zkSharding =nil; benefits from advantages of both monolithic and modular designs including:

  1. Scalability
    1. No scalability limitations as the execution is parallel. Throughput is estimated to be around 60k ERC-20 transfers per second with roughly 400 nodes.

https://nil.foundation/blog/post/nil_zkSharding

60k transfers/second x 60 seconds/minute x 60 minutes/hour x 24 hours = 5,184,000 transfers/day

For context, the ACH bank transfer system was processing 2.4 million transactions a day in 2021.

https://www.nacha.org/content/ach-network-volume-and-value-statistics

 

 

 

  • Haha 1
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Rimbo

Rimbo 25985

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1 hour ago, bernorange said:

For @Rimbo:

https://www.coindesk.com/tech/2023/11/07/nil-foundation-plans-ethereum-rollup-with-zero-knowledge-proofs-sharding/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

https://nil.foundation/blog/post/nil_zkSharding

60k transfers/second x 60 seconds/minute x 60 minutes/hour x 24 hours = 5,184,000 transfers/day

For context, the ACH bank transfer system was processing 2.4 million transactions a day in 2021.

https://www.nacha.org/content/ach-network-volume-and-value-statistics

 

 

 

61cDQzfaflL._AC_UF1000,1000_QL80_FMwebp_

there's one born every minute

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Blotto

Blotto 23560

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20 hours ago, Goliad said:

Notorious nocoiner launches his own shitcoin. Of course it incorporates “climate” and “AI” 

Sounds legit, I just need to figure out a way to leverage up about 8X before this thing takes off. 

Quote

What exactly is this?

Atlas calls its products “digital currency for resiliency.” While none of what it’s offering has been tested in the real world, it has apparently backtested data and feels that it’s developed a solution to the pain of holding cash. It even declares that it can outpace interest-bearing bank accounts.

In a video on its website, a seated Roubini talks about typical fear-mongering subjects, including, but not limited to, climate change, pandemics, inflation, and civil strife.

The company calls Roubini its chief economist and also features a former Binance executive — who just so happens to have resigned from Binance this past weekend, according to Reuters.

The strategy that Atlas suggests it’s using seems to include all the buzzwords to woo venture capitalists and angel investors. Specifically, it says its product is “enabled by AI, ML, climate technology, and blockchain.”

It’s unclear why or how a token or blockchain will help alleviate climate change and build a better portfolio for retail, but Atlas claims that the token will “direct capital to climate funding” and is “inflation protected.”

It’s also unknown which cryptocurrency Atlas will use for its token, which will likely be a point of contention given how many environmentalists speak out about how much energy is wasted via the use of Bitcoin and Ethereum.

 

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