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Bitcoin & Other Cryptocurrencies

Speculation that the latest rise in Bitcoin price is artificially caused by a Tether pump and dump scheme:

https://davidgerard.co.uk/blockchai...cked-tethers-kickstart-a-fresh-crypto-bubble/

The whole cryptocyrrency structure might still fall if Tether depegs. I would enjoy that spectacle. Unfortunately and mysteriously it seems to hold op well. The prediction markets say it will stay up:

https://manifold.markets/ACXBot/36-will-tether-depeg-in-2023?r=dWFpcjAx
https://manifold.markets/BoltonBailey/will-tether-depeg-even-slightly-in?r=dWFpcjAx
 
Patrick Boyle pointed out something that made the concept of 'bubbles' clear to me.
All 'bubbles', from The Tulip Bulb, to the East India Company, to the Dot Com, should be seen as a big balloon with a tiny, unrepairable leak. It benefits everyone the bigger it gets, but it takes more air going in than is being lost through the leak. To get more, they increase the air intake, to make it bigger. All is fine ... until two endings. Either the bubble 'bursts' because of being over inflated or it collapses because the air intake stops. There's no such thing as a 'knot' in the balloon to keep the balloon inflated, since the leak is still there.
 
Go to Buttcoin r/Buttcoin

Yesterday someone bought 26.9 BTC on Binance and sent it to Satoshi's dead wallet at the Genesis block, losing it forever. ($1.1 million.)

Snarky comments :)

Okay they lost it forever, but they only paid $12 in fees to do so!

Try to send $1M to some dead guy's account and see what it will cost you!!!! I double dare you

Meh, probably couldn't even do it.

It would be rejected by the oppressive banking system and their arbitrary limitations.

Boy, do I hate it when I send my life savings to someone by mistake then the evil jack-booted banks show up and give it back to me.
 
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Go to Buttcoin r/Buttcoin

Yesterday someone bought 26.9 BTC on Binance and sent it to Satoshi's dead wallet at the Genesis block, losing it forever. ($1.1 million.)

Snarky comments :)

Okay they lost it forever, but they only paid $12 in fees to do so!

Try to send $1M to some dead guy's account and see what it will cost you!!!! I double dare you

Meh, probably couldn't even do it.

It would be rejected by the oppressive banking system and their arbitrary limitations.

Boy, do I hate it when I send my life savings to someone by mistake then the evil jack-booted banks show up and give it back to me.
There's a deep technical conspiracy theory about this genesis block:
https://zemgao.com/satoshis-secret-in-the-genesis-block/

So I believe the Genesis block contains a secret related to Satoshi’s identity. Satoshi has retained the “keys” to unlock the secret should he ever need to use them to prove his identity.

But he did it in an extremely elaborate way not to give anyone, not even himself, power to unravel the Genesis block, the anchor of the Bitcoin blockchain.

The question becomes relevant given the suspense surrounding the 26.9 BTC coins recently deposited to the address in the Genesis block. I believe even if they were indeed deposited by Satoshi or an agent authorized by him, he would not use the Genesis block proof unless it becomes an absolute necessity. Even then, it would serve to validate the security of the Bitcoin blockchain. Satoshi will never sacrifice Bitcoin for the sake of his own reputation.
 
A bitcoin ETF goes live this week - institutions and people will be able to 'invest' more easily.
 
I foolish put a grand in 2 years ago and now out of and looking for work.....should I cash my Coinbase funds or leave it.
 
I foolish put a grand in 2 years ago and now out of and looking for work.....should I cash my Coinbase funds or leave it.
I really don't know what to say here.
The Spot ETF approvals will no doubt boost the price of bitcoin initially, but TBH, having worked around blockchain, crypto and web3 for the last two and half years, my only sure pronouncement would be: bitcoin is not an investment opportunity. It is a gamble and you don't know what the stakes are.

I would ride it out for 6 months and see. But, I'd cash out one way or the other.
 
Screenshot_20240116-215948_X.jpg

There was a Bored Ape concert where the organizers bought the wrong kind of UV lighting for the black light effects and ended up inflicting photokeratitus on attendees. From what I understand, they likely rented the kind of UV light used for industrial cleaning.

There was a convention called 'Apefest' including a UV party that decided normal UV lighting was for wimps and instead went with industrial disinfecting UV lights, simultaneously blinding and giving skin cancer to attendees.

:)
 
One attendee (a You Tuber called Oompaville) went there - held in Hong Kong - and experienced what he termed 'sunburned eyes'! Afterwards, he returned to the U.S. and got treatment then heard about all the other victims.
Since he didn't go near the 'rave' area, he suggested the toilets. Being held in a harbourside cargo warehouse, everything was practically what we'd call 'pre-fab' and lack ceilings. The bogs were garishly painted and lit with UV.
I suppose the BAYC organisers thought they should give 'members' more 'benefits' than their lousy JPG's ... er ... NFTs.
 
I feel pity for poor Tether :)

Tether, the issuer of the USDT stablecoin, says they are disappointed in the UN’s assessment that singles out USDT “highlighting its involvement in illicit activity while ignoring its role in helping developing economies in emerging markets, completely neglected by the global financial world simply because servicing such communities would be unprofitable for them.”

https://www.crowdfundinsider.com/20...ns-report-and-calls-for-blockchain-education/

A United Nations report published Monday suggested that USDT has become a prominent payment method for money laundering and scams in Southeast Asia, according to the Financial Times.

The UN also reportedly suggested the world's most-popular stablecoin has been widely used in underground fraud, including romantic scams known as “pig butchering.” This may not comes as a surprise — in November, Tether said that it assisted the U.S. Department of Justice and froze about $225 million in USDT in external, self-custodied wallets linked to an international human trafficking group in Southeast Asia responsible for a pig-butchering scam.

https://www.theblock.co/post/272568/usdt-fraud-southeast-asia-united-nations

I have not found the report yet, but I'm looking. Oh, here:

https://www.unodc.org/roseap/upload...24/Casino_Underground_Banking_Report_2024.pdf
 
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