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Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.)


surlybevo

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1 hour ago, B00M said:

Gee I wonder who owns 80% of this shit coin and who can buy it to manipulate his favor? This might be the single shittiest thing he’s ever done and you’re like, “lol gotta get his weird dick wet!!1”

I'm not sure buying something with a digital paper trail is something people buying influence are going to be using

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'Member when we made an incoming president sell his family's peanut farm to """avoid conflicts of interest"""? Now we have POTUS and FLOTUS competing on grifting their base lol.

 

At least we're finally at the point where we can take the mask off and admit that it's all one big fucking grift and scam

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2 hours ago, B00M said:

Gee I wonder who owns 80% of this shit coin and who can buy it to manipulate his favor? This might be the single shittiest thing he’s ever done and you’re like, “lol gotta get his weird dick wet!!1”

I didn’t say lol. I think it’s pretty lame, but not surprising. 
 

I’m focused on the things that really matter. Bitcoin, strategic reserve etc. 

Free Ross is more important than anything in the immediate term. People in this world will turn on him quickly if that doesn’t happen. 

Onward. 

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There is no insider trading anymore. There are no bribery laws. None of it. There are no more financial crimes.
Be a predator, or be the prey. That’s the only rule.
Oh, and those of you who think you’re predators? There’s a 99.99999% chance you’re the prey. Maybe not today, but the day will come.
The game is for a few hundred people at the very top. If you’re not one of them, you’re there to enrich them.
These are amazing times.
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23 minutes ago, Brisketexan said:


There is no insider trading anymore. There are no bribery laws. None of it. There are no more financial crimes.
Be a predator, or be the prey. That’s the only rule.
Oh, and those of you who think you’re predators? There’s a 99.99999% chance you’re the prey. Maybe not today, but the day will come.
The game is for a few hundred people at the very top. If you’re not one of them, you’re there to enrich them.
These are amazing times.

In this sense where grift is allowed I get it but to your overarching point get real dude-- the SEC puts forward a securities fraud case daily. Just last week Capital One got hit and that was gray area.

Tell me you are not employed in the banking or F&A sector without telling me.

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In this sense where grift is allowed I get it but to your overarching point get real dude-- the SEC puts forward a securities fraud case daily. Just last week Capital One got hit and that was gray area.
Tell me you are not employed in the banking or F&A sector without telling me.

Oh….will traditional, legacy, rule-following enterprises be subject to laws? Of course. Hell, if a Democrat accepts a free ticket to a local ballet, we all know he’ll be charged with bribery.
Will anything remotely affiliated with or protected by Trumpco be subject to those laws? You and I both know the answer is a hard “HELL NO.” Trump can have literally billions of dollars from foreign state actors funneled into his pockets, and will face zero consequences.
Laws for thee, not for me. That’s how this goes.
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8 minutes ago, Brisketexan said:

Of course. Hell, if a Democrat accepts a free ticket to a local ballet, we all know he’ll be charged with bribery.

My goodness you’re delusional. Pick another day for this nonsense. 
 

The outgoing President just pardoned his whole family for potential crimes going back six years BEFORE he became President. 

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33 minutes ago, No Mames Guey said:

My goodness you’re delusional. Pick another day for this nonsense. 
 

The outgoing President just pardoned his whole family for potential crimes going back six years BEFORE he became President. 

what does that have to do with cryptocurrency? take it to the CR threads.

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5 minutes ago, Nice Guy Eddie said:

what does that have to do with cryptocurrency? take it to the CR threads.

I was responding to a CR comment Eddie. 
 

The point being yeah it’s a race to the bottom. The more you debase the money, the more the people get debased. Buckle up. 

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I was responding to a CR comment Eddie. 
 
The point being yeah it’s a race to the bottom. The more you debase the money, the more the people get debased. Buckle up. 

And you cheer for the chief debaser. Stunning to watch. You are literally cheering for society to completely fail, and expect us to act like it’s normal.
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37 minutes ago, No Mames Guey said:

I don’t cheer for it to happen. I’m just aware historically of the direction we’re heading, then preparing and protecting myself and my family. Nothing more than that. 

Who's sock is this asshat? He has 15 posts and is almost in purgatory. 

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6 hours ago, PenelopeWitherspoon said:

Who's sock is this asshat? He has 15 posts and is almost in purgatory. 

first time GIF

This is the pro-Russian anti-American troll account that won’t quit. Gotta be screen name #020 by now, right? Maybe 030? Lmk comrade!

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Trump coin has 0.3% of the cap of bitcoin, and <2% of eth.

It's not available through eTrade, Fidelity, Coinbase, or even Robinhood.

The platform/exchange with its highest volume is something called "BiKing" and "Biconomy".

This, and hawktuah, and pepe, and "unicorn fart dust" (real name) are gamified by very knowing and very willing participants. If you want to sling around fartcoins, you do you.

 

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lulz a pastor went from praying at the inauguration, and then left the stage to immediately go promote a memecoin

It's gonna be a fuckin hoot to watch the intersection of evangelicals and cryptogrifters. 

 

Is anyone getting in on the rugpulling action? Or is that more for the NFT thread?

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several key crypto news items on cnbc.com this morning

  • SEC launching a task force to clarify crypto regulatory framework. I like seeing this on the first morning of the new admin. Next, let's see how fast they move.
  • BoA says financial industry will embrace crypto payments if the feds allow it

 

 

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4 hours ago, Dbeasy said:

This whole crypto period will end with a few people making billions (trillions?) and the American public having to bail out all the banks again to the tune of trillions of dollars. 

^1000 monkeys and a keyboard

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On 1/20/2025 at 10:01 AM, Captainant said:

'Member when we made an incoming president sell his family's peanut farm to """avoid conflicts of interest"""? Now we have POTUS and FLOTUS competing on grifting their base lol.

 

At least we're finally at the point where we can take the mask off and admit that it's all one big fucking grift and scam

Point stands but didn't Carter just put the farm in a blind trust, not sell?

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Boggles my mind this thread has been going on 6 years now and people still don't get it and have sat on the side lines missing out on being one of the "few" making money on it.  It's like someone not investing during the dot.com bubble because there were a bunch of stupid ideas for companies and missing out on Amazon, Google, Facebook, eBay, etc.

The crypto period is just starting. 

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1 minute ago, MonkeyDoughnut said:

Boggles my mind this thread has been going on 6 years now and people still don't get it and have sat on the side lines missing out on being one of the "few" making money on it.  It's like someone not investing during the dot.com bubble because there were a bunch of stupid ideas for companies and missing out on Amazon, Google, Facebook, eBay, etc.

The crypto period is just starting. 

Amazon, Google, and Facebook are actual products. What does crypto do, solve, or address? 

Why does it exist but for hoping to sell to a greater fool for a higher price?

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14 minutes ago, Captainant said:

Amazon, Google, and Facebook are actual products. What does crypto do, solve, or address? 

Why does it exist but for hoping to sell to a greater fool for a higher price?

Isn't that what 99.9% of people buying gold are doing? They don't have personal use case for it but figure someone else does and hope to sell it to someone later at a higher price.

Crypto can act as a global store of value that can be easily and readily sent to anyone, anyplace in the world in a cheap, timely manner.

Currently BTC has shown to be a great hedge against inflation.

Crypto is also the application that has built out and built up the blockchain industry to where blockchain tech is getting adopted across industries in large part because of the innovation that took place because of the crypto industry. 

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1 minute ago, MonkeyDoughnut said:

Crypto is also the application that has built out and built up the blockchain industry to where blockchain tech is getting adopted across industries in large part because of the innovation that took place because of the crypto industry. 

As someone in the tech industry, I have not seen a single enterprise-scale blockchain implemention in a decade. It's simply slower, less resilient, and more energy expensive than non-blockchain systems.

4 minutes ago, MonkeyDoughnut said:

Crypto can act as a global store of value that can be easily and readily sent to anyone, anyplace in the world in a cheap, timely manner.

Great, so when's the last time YOU used crypto for a commercial purpose, and not just horse trading? Because what you're describing is not reality, but a sales pitch. 

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20 minutes ago, Captainant said:

As someone in the tech industry, I have not seen a single enterprise-scale blockchain implemention in a decade. It's simply slower, less resilient, and more energy expensive than non-blockchain systems.

Great, so when's the last time YOU used crypto for a commercial purpose, and not just horse trading? Because what you're describing is not reality, but a sales pitch. 

Blockchain still in it's infancy for sure, but Walmart is probably the biggest user of blockchain that I know of. They've been using it for years, not without issue, but it's still getting adopted in more areas of the company.

As for myself using crypto commerically, yeah don't have much use. I've used for online sports books or such, but mainly for trading. My company holds large chunk of BTC that has been a great inflationary hedge... but is really more of a long term company asset as we don't really trade it.  The lack of use cases though is directly linked to the lack of regulatory clarity from the SEC.  With Gensler out I think this gets addressed soon and you'll see more and more use cases pop up.

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1 minute ago, MonkeyDoughnut said:

Blockchain still in it's infancy for sure, but Walmart is probably the biggest user of blockchain that I know of. They've been using it for years, not without issue, but it's still getting adopted in more areas of the company.

As for myself using crypto commerically, yeah don't have much use. I've used for online sports books or such, but mainly for trading. My company holds large chunk of BTC that has been a great inflationary hedge... but is really more of a long term company asset as we don't really trade it.  The lack of use cases though is directly linked to the lack of regulatory clarity from the SEC.  With Gensler out I think this gets addressed soon and you'll see more and more use cases pop up.

I disagree wholeheartedly, every company and nation that has tried to go whole-hog on Bitcoin has choked. Turns out volatile 10+ minute confirmation windows with transaction fees do not make for a good payment system.

And while Wally world is a "user" of Bitcoin, it is nowhere near to their core business and the thought of a Walmart associate trying to figure out a busted crypto TX cracks me up, so thanks for the laugh with my morning coffee

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18 minutes ago, Captainant said:

I disagree wholeheartedly, every company and nation that has tried to go whole-hog on Bitcoin has choked. Turns out volatile 10+ minute confirmation windows with transaction fees do not make for a good payment system.

And while Wally world is a "user" of Bitcoin, it is nowhere near to their core business and the thought of a Walmart associate trying to figure out a busted crypto TX cracks me up, so thanks for the laugh with my morning coffee

That's not how fast payment systems in crypto work today, just like your bank doesn't take money from you account and deliver to HEBs account when you pay at the grocery store.

As for Walmart I was talking Blockchain, not crypto. Amazon is another user but they are less clear on internal use cases. They are more clear on their AMB (Amazon Managed Blockchain) product though.

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5 minutes ago, MonkeyDoughnut said:

As for Walmart I was talking Blockchain, not crypto. Amazon is another user but they are less clear on internal use cases. They are more clear on their AMB (Amazon Managed Blockchain) product though

Let me tell you, no services or business workflows use em. Because at a fundamental level, they are simply more complex and expensive than a traditional data store. Plus, what's the point of running a trust less architecture if you're inside the network boundary and already have the benefits of trust? 

You can even realize idempotency without blockchains, there's not a favorable comparison if you already trust all the nodes you're connecting to. 

11 minutes ago, MonkeyDoughnut said:

That's not how fast payment systems in crypto work today, just like your bank doesn't take money from you account and deliver to HEBs account when you pay at the grocery store

Then please, show me a real world example of a real crypto transaction with Bitcoin that isn't so laborious. Or are you saying that you need a trusted 3rd party to handle the complexities?

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46 minutes ago, Captainant said:

Let me tell you, no services or business workflows use em. Because at a fundamental level, they are simply more complex and expensive than a traditional data store. Plus, what's the point of running a trust less architecture if you're inside the network boundary and already have the benefits of trust? 

You can even realize idempotency without blockchains, there's not a favorable comparison if you already trust all the nodes you're connecting to. 

Then please, show me a real world example of a real crypto transaction with Bitcoin that isn't so laborious. Or are you saying that you need a trusted 3rd party to handle the complexities?

The point is that they don't want them to be internal, they want their entire supply chain onboard including companies that likely don't fully trust. And sure, decades of legacy infrastructure combined with new tech complexity doesn't make it easy, cheap or quick right now. It also doesn't mean that those systems won't evolve over time.

Yes, you need a trusted 3rd party to handle the compexities of a realtime transaction of Bitcoin (like other assets). It would never be the front coin for a realtime transaction. It could be, but wouldn't be.

I'll stop now though as obviously opinions are set and I don't think this thread was setup to convince someone on the basic premise of crypto one way of the other.  I believe in it and you don't and that's ok. 

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9 minutes ago, MonkeyDoughnut said:

The point is that they don't want them to be internal, they want their entire supply chain onboard including companies that likely don't fully trust. And sure, decades of legacy infrastructure combined with new tech complexity doesn't make it easy, cheap or quick right now. It also doesn't mean that those systems won't evolve over time.

Yes, you need a trusted 3rd party to handle the compexities of a realtime transaction of Bitcoin (like other assets). It would never be the front coin for a realtime transaction. It could be, but wouldn't be.

I'll stop now though as obviously opinions are set and I don't think this thread was setup to convince someone on the basic premise of crypto one way of the other.  I believe in it and you don't and that's ok. 

I'm not looking to be convinced, but I am genuinely curious of why you believe that crypto will solve the problems you mention in a way that's better/cheaper/more secure/more durable than existing means. If you require a trusted 3rd party to effectively use bitcoin, then the entire premise for the "trustless" crypto currency is shot. 

I understand the technology and the utility, and it's not a matter of "belief" - it's a matter of efficacy and cost.

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1 hour ago, MonkeyDoughnut said:

Blockchain still in it's infancy for sure, but Walmart is probably the biggest user of blockchain that I know of. They've been using it for years, not without issue, but it's still getting adopted in more areas of the company.

As for myself using crypto commerically, yeah don't have much use. I've used for online sports books or such, but mainly for trading. My company holds large chunk of BTC that has been a great inflationary hedge... but is really more of a long term company asset as we don't really trade it.  The lack of use cases though is directly linked to the lack of regulatory clarity from the SEC.  With Gensler out I think this gets addressed soon and you'll see more and more use cases pop up.

A friend of mine has been waiting for bitcoin to drop below $10K to buy in. There was a recent point where that amount was potentially going to be hit. I haven't asked him in a while about his new buy-in point but I imagine he would now just say that it's overpriced.

1 hour ago, Captainant said:

I disagree wholeheartedly, every company and nation that has tried to go whole-hog on Bitcoin has choked. Turns out volatile 10+ minute confirmation windows with transaction fees do not make for a good payment system.

And while Wally world is a "user" of Bitcoin, it is nowhere near to their core business and the thought of a Walmart associate trying to figure out a busted crypto TX cracks me up, so thanks for the laugh with my morning coffee

Layer 2 networks that sit on ethereum go fast. I believe Polygon confirms in 2-5 seconds. On par with easier transactions like credit card purchase approvals AND it settles within seconds unlike credit cards that take a couple of days. And the transaction fee is under a $0.01 at most times. In theory it could be more depending on volume. 

You may say that you would never want to transact in Polygon, and you're 100% correct. Systems can be configured to where funds are being transferred and the users don't need to know the intricacies. I don't know the exact details of what occurs when I tap or enter my credit card on a terminal. I just know it works.

I also agree that there haven't been widespread adopted usage because banks have been forbidden to handle crypto payments or at best the regulations are murky. Allow retail banks to enter crypto and why wouldn't they want to break the VISA and MC duopoly.

 

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On 1/23/2025 at 9:22 AM, MonkeyDoughnut said:

The point is that they don't want them to be internal, they want their entire supply chain onboard including companies that likely don't fully trust

Just had to circle back to comment on this - what kind of slapdick business is bringing suppliers it doesn't trust?Oh yeah sure Bob, don't worry that you sent the wrong grade pipe to my plant - I'm sure the high pressure caustic fluid it carries will be gentle with it. 

What you're describing is a solution desperate for a problem to solve and justify it's massive capitalization 

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9 hours ago, Captainant said:

Just had to circle back to comment on this - what kind of slapdick business is bringing suppliers it doesn't trust?Oh yeah sure Bob, don't worry that you sent the wrong grade pipe to my plant - I'm sure the high pressure caustic fluid it carries will be gentle with it. 

What you're describing is a solution desperate for a problem to solve and justify it's massive capitalization 

I can think of plenty of industries where you trust a supplier but don't trust your suppliers suppliers supplier because you don't even know who they are. Might currently get/give direct supplier data access, but how do I trust a sub-supplier I don't even know?

Plenty of pool buyers in central Texas would love to currently know from exactly who and from where their concrete was sourced even though they likely trusted their pool builder who likely trusted their supplier etc.

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On 1/25/2025 at 12:27 PM, MonkeyDoughnut said:

I can think of plenty of industries where you trust a supplier but don't trust your suppliers suppliers supplier because you don't even know who they are. Might currently get/give direct supplier data access, but how do I trust a sub-supplier I don't even know?

People never exposed to pnl or financial plumbing think DSO/Credit/Collections issue dont exist in B2B.  Amazing. Hell theres a $150B company out there whose job is to quantify supplier and credit risk.

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