Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.)

[washparkhorn 9931]

2 hours ago, bernorange said:

I see that cryptos are outperforming markets today.  Not sure why, but most every high cap coin is up 10% or more.  BTC back above $20K.

Crypto correlation with stock market. Dollar down today with economic bad news (consumer confidence down) hinting the Fed will slow tightening. (Weaker USD = more USD needed to buy asset like cryptos). 
 

I think the Bloomberg article provides a relatively objective case for why crypto has value - much better than any promoter of crypto. The crypto hucksters have been been unsavory, to say it kindly. 

[Humble Beast 258]

18 hours ago, bernorange said:

I skimmed through the Bloomberg article.  It's an easy read and does a good job explaining things. 

I see that cryptos are outperforming markets today.  Not sure why, but most every high cap coin is up 10% or more.  BTC back above $20K.

Liquidity driven. 
 

On another note. This is a good piece looking at potential implications of CBDCs. Dystopia.
 

 

And look who’s a big fan. 
 

It really feels like there’s a race to build this stuff out and market it to the public before this debt supercycle blows up. 

[Humble Beast 258]

Bottoming signs?
 

down 70% yesterday. 
 

They’ve already sold almost all their bitcoin. Miner reshuffling and consolidation is part of the cycle. 

[Humble Beast 258]

Lost a little in the Elon Twitter hype/slap fight is that CZ from Binance is equity investor in private takeover. Expect shitcoins to be featured in some way. 🤮 

 

[bernorange 8346]

^ I believe that is why Dogecoin shot up 40% the other day.

Quote

...
According to the 2022 Institutional Investor Digital Assets Study conducted by Fidelity Digital Assets, which surveyed 1,052 institutional investors across Asia, Europe and the U.S., more institutions are invested in cryptocurrencies now than they were a year ago when the crypto market was soaring higher.

"Despite market headwinds, adoption of digital assets among institutional investors surveyed increased in both the U.S. (42%) and Europe (67%), a respective 9-point and 11-point change year-over-year," the report from Fidelity said.

Institutional investors in Asia saw a slight decline in adoption over the past year but remain the most accepting of digital assets out of all the regions surveyed, with 69% of respondents reporting an allocation to digital assets.

In total, 58% of those surveyed reported owning digital assets in the first half of 2022, representing a 6% year-over-year increase. Both Bitcoin and digital assets as a whole were viewed positively by 51% of respondents.

Nearly 40% of those surveyed buy digital assets directly, with Bitcoin and Ether being the most popular assets. Other preferences include buying investment products holding crypto (35%), buying investment products holding digital assets companies (30%), and gaining exposure via futures contracts (20%).

Interest in adoption was found to be the highest among crypto hedge funds/venture capital (87%), high-net-worth investors (82%), and financial advisors (73%), which Fidelity suggested: "may be a result of their organizational structures and investment decision-making policies."

Adoption was found to be lower "among family offices, pensions/defined benefit (DB) plans, traditional hedge funds, and endowments and foundations."
...

https://www.kitco.com/news/2022-10-27/58-of-institutions-now-hold-crypto-up-6-from-2021-Fidelity.html

[Humble Beast 258]

 

[Captainant 27308]

55 minutes ago, Humble Beast said:

 

IMO this should go in the NFT thread, which still cracks me up that it's not in the gambling board lol

[Humble Beast 258]

This could be the last shoe to drop. It explains Sam’s flagrant efforts to curry favor from politicians and other elites. 
P

I hope he goes belly up. What a fucking statist scumbag. 

[bernorange 8346]

FWIW (from late September):

Quote

...
BlackRock has today launched an exchange traded fund (ETF) that enables European customers to gain exposure to a variety of companies involved in the development, innovation, and utilisation of blockchain and crypto technologies.

The iShares Blockchain Technology UCITS ETF [BLKC] will track the NYSE® FactSet® Global Blockchain Technologies Capped Index. BLKC comprises 35 global companies from developed and emerging markets with 75% exposure to companies whose primary business is related to blockchain, such as crypto miners and exchanges, and 25% exposure to companies who support the blockchain ecosystem, such as payments and semiconductor companies. The exposure is at the forefront of innovation, paving the future of blockchain. BLKC does not directly invest in cryptocurrencies.
...

https://www.finextra.com/pressarticle/94256/blackrock-launches-blockchain-etf

[Humble Beast 258]

BTC has held up pretty well since Powell took a steaming dump on the market. 

[Humble Beast 258]

On 11/2/2022 at 10:17 PM, Humble Beast said:

This could be the last shoe to drop. It explains Sam’s flagrant efforts to curry favor from politicians and other elites. 
P

I hope he goes belly up. What a fucking statist scumbag. 

Diving more into Sam and FTX 

 

pretty damning report. 

If I put on my tinfoil hat though I don’t see him going down. He’s contributed a lot of money to the right causes, associated with the right elites and is a vocal enemy of Bitcoin in favor of other centralized shitcoins. 

[Parliament 14111]

No G Wagon or Lamborghini in mt crypto-trading neighbor's garage.  Either he moved to a mansion or got his shit repossessed.  50/50 on which.

[Humble Beast 258]

I guess CZ has read the FTX reports. 
 

Down 8% today. If any of y’all own some FTT might be worth selling, before CZ does. 
 

Alameda/FTX under attack 

[Humble Beast 258]

Long thread from an Austin based crypto tweeter.

 

TL;DR

DeFi still hasn’t accomplished anything justifying the massive amounts of capital it has accumulated. The clock is ticking. 
 

 

[Captainant 27308]

Lol it's funny seeing cyprobros define things in cash equivalency without the time of valuation. Could be plus or minus a billion from the time of posting! Especially when cryptocurrency is pretty trivial to describe in the units of ACTUAL """value""" rather than converting to a "fake" currency like USD amirite?

[Humble Beast 258]

 

[Humble Beast 258]

On 11/6/2022 at 2:11 PM, Humble Beast said:

I guess CZ has read the FTX reports. 
 

Down 8% today. If any of y’all own some FTT might be worth selling, before CZ does. 
 

Alameda/FTX under attack 

They publicly offered to buy it OTC. 
 

Looks like CZ decided to just dump it on the market. 
 

 

[Humble Beast 258]

Holy shit. That escalated quickly. 
 

 

[Firemans4Horn 17792]

RIP to the pied piper SBF. 

[washparkhorn 9931]

So . . . LBRY is a security? 
 

The cryptotoken LBRY credits (LBC), issued by LBRY, a blockchain-based content hosting service, is legally a security according to a decision today from the U.S. District Court for New Hampshire.

In a decision for summary judgment in favor of the Securities and Exchange Commission in the case SEC v. LBRY, Inc., which began in March 2021, U.S. District Judge Paul J. Barbadoro insisted the company violated Section 5 of the Securities Act of 1933 by selling its tokens without registering with and obeying SEC requirements for the legal sale of securities.

. . . A rub in this decision that seems to be unnerving the crypto token community the most, a strong hint that those other digital assets might not remain "untouched" by the SEC for long, is it implies that any pre-mined token—which the issuers keep quantities of without spending money before releasing it into the marketplace at large—is thus obviously a security under SEC definition.
 

https://reason.com/2022/11/07/cryptotoken-lbc-is-legally-a-security-federal-judge-declares-and-requires-regulation-by-the-sec/

[Firemans4Horn 17792]

 

[Parliament 14111]

Does this mean Ann Margaret's not coming?

Edited November 8, 2022 by Parliament

[Humble Beast 258]

47 minutes ago, washparkhorn said:

So . . . LBRY is a security? 
 

The cryptotoken LBRY credits (LBC), issued by LBRY, a blockchain-based content hosting service, is legally a security according to a decision today from the U.S. District Court for New Hampshire.

In a decision for summary judgment in favor of the Securities and Exchange Commission in the case SEC v. LBRY, Inc., which began in March 2021, U.S. District Judge Paul J. Barbadoro insisted the company violated Section 5 of the Securities Act of 1933 by selling its tokens without registering with and obeying SEC requirements for the legal sale of securities.

. . . A rub in this decision that seems to be unnerving the crypto token community the most, a strong hint that those other digital assets might not remain "untouched" by the SEC for long, is it implies that any pre-mined token—which the issuers keep quantities of without spending money before releasing it into the marketplace at large—is thus obviously a security under SEC definition.
 

https://reason.com/2022/11/07/cryptotoken-lbc-is-legally-a-security-federal-judge-declares-and-requires-regulation-by-the-sec/

Eth had large pre-mine. Was obviously a security from the beginning. Almost all coins are securities. This and FTX blowup give great cover for more aggressive regulation to begin. A bunch of scammers. 
 

35 minutes ago, Firemans4Horn said:

 

Delusional scumbag. 
 

Bye bye Sam. 
 

 

If true this is good for the space.  
 

 

[bernorange 8346]

I like turtles transparency.

 

[Humble Beast 258]

One can only hope…

 

Some big funds like Sequoia, Tiger Global, Paradigm, SoftBank were all in for big raises for FTX. Now it’s a zero. 

[Firemans4Horn 17792]

Not sure anything has ever aged worse than this

 

 

[Humble Beast 258]

From just yesterday. 😂 

 

[Blotto 23418]

19 hours ago, Firemans4Horn said:

 

A year ago I was talking about potentially having a threesome with Emily Ratajkowski and Scarlett Johansson. So hey I get it, sometimes your plans just don't work out. 

[Humble Beast 258]

this just leaked. Market at 2022 lows.
 

BTC -15%
ETH -24%
SOL (a Sam coin) -46%
FTT -79%

If they don’t go through with purchase then a lot of people will lose money. New contagion likely starts with whoever loaned Sam/Alameda money. 
 

This tweet from a bitcoin maxi in June predicted it pretty well. 
 

The hopium is that people that are burned realize that bitcoin is the innovation and what is important and focus their time/work there. I sleep well knowing my coins are in my possession. 

[MonkeyDoughnut 10134]

7 minutes ago, Humble Beast said:

this just leaked. Market at 2022 lows.
 

BTC -15%
ETH -24%
SOL (a Sam coin) -46%
FTT -79%

If they don’t go through with purchase then a lot of people will lose money. New contagion likely starts with whoever loaned Sam/Alameda money. 
 

This tweet from a bitcoin maxi in June predicted it pretty well. 
 

The hopium is that people that are burned realize that bitcoin is the innovation and what is important and focus their time/work there. I sleep well knowing my coins are in my possession. 

damn... prediction was spot on

[Humble Beast 258]

Whoopsie 

 

[Humble Beast 258]

Binance passing on acquisition of FTX after one day of DD. They’re fucked. 
 

Market dumping. 
 

btc 16k

Eth 1150

Sol 13

 

“We believe in time that outliers that misuse user funds will be weeded out by the free market.” 😬 

[Humble Beast 258]

A lot of missing funds it appears. 
 

this will be a big deal.

 

[Serak The Preparer 3423]

59 minutes ago, Humble Beast said:

Binance passing on acquisition of FTX after one day of DD. They’re fucked. 
 

Market dumping. 
 

btc 16k

Eth 1150

Sol 13

 

“We believe in time that outliers that misuse user funds will be weeded out by the free market.” 😬 

They Deserve To Get Fucked For Their Assinine Capitalization Throughout Their Press Release.

[UTGrad98 2257]

Whoopies gif

And here we go gif

Was that wrong? Should I not have done that gif

[bernorange 8346]

Firestarter girl gif

[Humble Beast 258]

He’s on the run. 
 

 

[Firemans4Horn 17792]

Thread starts in August. Updates yesterday and today blow the whole thing open. 
 

 

 

[Humble Beast 258]

53 minutes ago, Firemans4Horn said:

Thread starts in August. Updates yesterday and today blow the whole thing open. 
 

 

 

Good find. 
 

Only in crypto would Shkreli end up being someone doing analysis. 
 

 

[Parliament 14111]

This is spiraling fast, just like any bubble pop.

[Hefeweizen 5307]

1 hour ago, Parliament said:

This is spiraling fast, just like any bubble pop.

Can I interest you in bit tulips?

[Parliament 14111]

Yeah.  Lemme borrow some money against my Litecoin.

[Humble Beast 258]

1 hour ago, Parliament said:

This is spiraling fast, just like any bubble pop.

The bubble popped a long time ago. This is the final bottom of the bear market happening over the next week or so.
 

14 minutes ago, Hefeweizen said:

Can I interest you in bit tulips?

Yawn.  There’s nothing that has changed the fundamental case for bitcoin. More money will be printed. Governments will continue to clamp down on financial freedom. It’s a race between BTC and cbdcs. Which way western man?

[TonyTexas 10478]

Humble Beast must be yawning from the  bottle of sleeping pills he just took. 

[Blotto 23418]

11 hours ago, Humble Beast said:

This is the final bottom of the bear market happening over the next week or so.

Lulz, you have no idea if thats true or not

[Humble Beast 258]

28 minutes ago, Blotto said:

Lulz, you have no idea if thats true or not

It’s my semi educated guess. 
 

We’ve been kicking around tighter range for the last month. Seemed to be due for a dump from there. I think we saw it the last day or two. Worst market sentiment out there you can imagine. A lot of disgust. A lot of apathy as manifested in this thread. 
 

Feels very similar to 2018 when BTC was stuck around 6k then swooshed down to 3k. It’s over etc. 

 

Still need to see what comes out of FTX counterparty issues though. 

[Queen Bitch 1692]

Imagine crypto being your passion and/or hobby. Couldn't be me!!!!

[Humble Beast 258]

1 hour ago, Queen Bitch said:

Imagine crypto being your passion and/or hobby. Couldn't be me!!!!

Thanks from dropping by.

Another good bottom signal. The driveby nocoiner dunks. 

[bernorange 8346]

Quote

While U.S. investors have been patiently waiting since 2013 for the Securities and Exchange Commission to approve a spot Bitcoin (BTC) exchange-traded fund (ETF), investors in Brazil can now access a physically backed crypto ETF thanks to Galaxy Digital and Itaú Asset.

Itaú Asset, the largest private asset manager in Latin America, has partnered with Galaxy Digital, the financial services and investment management company founded by billionaire Mike Novogratz, to offer the IT Now Bloomberg Galaxy Bitcoin ETF (BITI11) on Brazil's B3 Stock Exchange as part of Itaú Asset's broader ETF suite, the IT Now Series.

The new product launched today and allows investors in the country to gain exposure to Bitcoin in a regulated setting. According to the press release, BITI11 is the first of many crypto-related products to come.
...

https://www.kitco.com/news/2022-11-10/Investors-in-Brazil-can-now-trade-a-spot-Bitcoin-ETF.html

Great timing!

RayLiotalaughing.gif

[MeerkatBong 115]

This episode is a disaster for crypto

"FTX’s meltdown could single-handedly wipe out whatever legitimacy the crypto industry had left. Don’t take it from us—here’s what crypto execs themselves said about it.

Binance CEO Changpeng “CZ” Zhao said the FTX calamity was not “a win” and had “severely shaken” confidence in crypto.

“That’s a not a good thing for anybody,” Coinbase’s CEO Brian Armstrong said.

Why? It has to do with regulation. SBF frequently visited Washington, DC, to work with lawmakers on regulating the Wild West of crypto. But with crypto’s most trustworthy diplomat left holding the bag after an epic collapse, regulators who feel duped could try to buckle the industry.

The most humiliation in this entire episode is, of course, reserved for SBF himself. When he was at the top of the crypto world, the 30-year-old billionaire discussed his grand ambition of giving away his fortune to help humanity.

Now, there’s little fortune left. On Tuesday, SBF’s net worth plunged from $15.6 billion to less than $1 billion. That 94% evisceration is the worst one-day wipeout for a billionaire ever tracked by Bloomberg."

 

WOW! Kinda hilarious and appropriate that a crypto billionaire rises and falls as fast as that. SBF will probably end up doing jail time if half of the Alameda and other financial tomfoolery is true.

Edited November 10, 2022 by MeerkatBong