Bitcoins (and other crypto currencies)

[R3k1355]

Been lots of calls for regulation, SBF rather notoriously petitioned for greater regulation, while doing things that would make regulators just melt.

The lack of regulation is what brings so many people in. If it becomes like any other market - what's the point in it all?

 

[Steve]

Bitcoin miner Core Scientific is filing for Chapter 11 bankruptcy — but plans to keep mining

Core Scientific, one of the largest publicly traded crypto mining companies in the U.S., is filing for bankruptcy protection.

www.cnbc.com

 

[ChrisR]

Argo aren't looking too healthy either at the moment.

 

[R3k1355]

Saw a couple of days ago that there's been a fair increase in shorting against the main mining firms, so quite possible there are more on the way.

Some companies were known to have taken on a fair bit of debt to drive expansion earlier in the year, those are more likely to be on thin ice.

 

[Mk1T]

Argo aren't looking too healthy either at the moment.

This one hurts me the most, had quite a few thousands invested in Argo (reduced to hundreds now..) I just pray they can survive instead of go bankrupt, but with BTC hashrate increasing still and price declining it's an ugly mix out there. I'm heading for destination rekt.

 

[Steve]

Casino

FTX collapse shows crypto is 'too dangerous' not to regulate, Bank of England deputy governor says

In an exclusive interview with Sky News, Sir Jon Cunliffe says investors and the financial system need protection from the "casino" of crypto trading.

news.sky.com

 

[R3k1355]

This caught my eye. I don't really understand bail bonding, as it's pretty unique to America, but does this mean he came up with 1/4 billion dollars to keep him out of custody???

Where TF did he get that kind of money? Wasn't he supposed to be as broke as his companies?

FTX founder released to parents on $250m bail

Prosecutors have accused Sam Bankman-Fried of "one of the biggest financial frauds in US history".

www.bbc.co.uk

 

[Owen]

I assume he’ll get a bail bondsman to put up the bond (for which they’ll charge a fee).

I’m guessing this will be the case as I assume he doesn’t have the cash squirrelled away!

 

[R3k1355]

I assume he’ll get a bail bondsman to put up the bond (for which they’ll charge a fee).

I’m guessing this will be the case as I assume he doesn’t have the cash squirrelled away!

But doesn't that mean someone needs to come up with $250,000,000?? No bail bondsman will have anywhere near that kind of money.

 

[Owen]

Good question, I assume insurance cos come in to the fold for the big stuff.

however, Reuters to the rescue - his parents put up their house (doesn't cover full amount):

Explainer: How did Bankman-Fried secure $250 mln bail?

FTX founder Sam Bankman-Fried clinched a bail deal on Thursday that would see him released on a $250 million bond secured against his parents' property with restrictions on his movement.

www.reuters.com

 

[Steve]

Have a coffee find some free time, watch, listen, absorb, learn & avoid!

Probably the best explanation of all things crypto I have seen.

 

[R-Sport.]

Yes-

We got down to 20200 again - strong support at 20k, bounced the market -

20% gains on alts in the space of 30 mins > EG chain link etc etc

Ive started buying some long term holds.
Wilder World. $400 at $0.185 (Down 98% from ATH )

Posted this in July at 0.18.

Was 0.61 today -
Bear marked low was 0.169 so that would have been a good buy

 

[R3k1355]

What happened to those football coins that were going over the world cup?

 

[R-Sport.]

What happened to those football coins that were going over the world cup?

As expected the are dead at the moment
Something to think about - worth pugging some in for a rainy day

 

[R3k1355]

95% of NFTs are Dead - Trends, Predictions & Statistics 2023

Are NFTs (Non Fungible Tokens) dead? Maybe so. We analysed over 60.000 NFTs to find out which ones are still valuable.

dappgambl.com

After looking at 73,257 NFT collections (a collection can contain any number of NFTs that can each be bought and sold) it determined that 69,795 of those collections have a market cap of 0 Ether.


only 21 percent of the NFT collections it examined were fully spoken for, which it said ultimately means four out of every five NFTs remain unsold.

In addition to the 73,000 collections of NFTs that dappGambl examined for its report, it identified an additional 195,699 NFT collections "with no apparent owners or market share."

 

[jonno_c]

 

[Mk1T]

Was never on-board with NFT's despite being uber bullish on pretty much everything else crypto related. Once you understand sound money, there's no going back!

 

[R3k1355]

The weird thing is NFT's probably have more of a genuine use than crypto currency.

but some utter lunatics somehow decided that would mean AI generated pictures of monkeys will be worth millions.

 

[rctempire]

Never got into NFTs. seemed pointless buying "art", so avoided it. Looks like my analysis paid off greatly. Total fad.

 

[charltjr]

Never got into NFTs. seemed pointless buying "art", so avoided it. Looks like my analysis paid off greatly. Total fad.

Classic pyramid scheme really - made a few people very very wealthy but anyone who didn't get in early lost their shirt.

 

[R3k1355]

Had long been said alot of people were using it for money laundering, some still are but it's more obvious now.

 

[Mk1T]

👀 Eyes on the prize. Lots happening at the moment its hard to keep up. Huge re-rate happening.

People slowly starting to realise the effect of inflation on their day to day wealth... Blackrock ETF? 👀

 

[R3k1355]

Fill yer boots, get out before the next crash.

 

[Mk1T]

Fill yer boots, get out before the next crash.

I accumulate and never sell.. The USD and GBP will only ever go down in value, hence "inflation" currency debasement.

 

[R3k1355]

I see what you mean, but it's hard to make a case Bitcoin is not effected by inflation when the value violently swings about all over the place.

I think going forward Bitcoin will be the main traded commodity, Ethereum will be the one actually used as a cryptocurrency. Vast majority of the rest will end up on the scrap heap.

 

[jonno_c]

I bought 1 BTC for like 12 dollars earlier this year when I had to pay for something. Mental how crazy the price spiked to.

I hope you still have it!!

 

[R3k1355]

SBF slipped the courtroom artist a few bob for this one.

 

[R3k1355]

Tons of people got burnt over NFT's, but always seeking to take it one step further, Bored Ape Yacht Club fans managed to get actually burnt at a party.

I'm not entirely sure what they were celebrating.

Attendees at a Bored Ape Yacht Club (BAYC) event over the weekend in Hong Kong are reporting eye pain and difficulty seeing after an evening party went wrong.
The next day, reports from attendees with eye troubles began flooding the website formerly known as Twitter, noting painful eyes, sudden vision loss and even skin burns.

One attendee, Polish entrepreneur Adrian Zduńczyk, posted a photo of a receipt from his visit to a Hong Kong eye clinic, where he was diagnosed with photokeratitis in both eyes.

Photokeratitis is caused by unprotected exposure to ultraviolet radiation, and is commonly experienced by welders not wearing protective gear, skiers and others who spend time in bright sunlight. Akin to a sunburn of the eyes,

Bored Ape NFT party a real eyesore, irritated attendees warn

They're ugly but UV lighting blamed for human damage, not the dumb idea

www.theregister.com

 

[Cookie]

I hope you still have it!!

Lol nope. I would have had it in my wallet for a few hours tops, probably less

Fairly sure it was used to buy access to an NZB site

 

[rctempire]

Goodbye CZ

Binance Processes Nearly $1B in Net Outflows as Changpeng ‘CZ’ Zhao Resigns

Data shows the exchange sits on over $67 billion worth of tokens, easing concerns of a possible bank run.

www.coindesk.com

Crypto exchange Binance saw over $950 million in net outflows over the past 24 hours as it was hit with criminal charges in the U.S., and founder Changpeng ‘CZ’ Zhao agreed to step down as chief executive officer as part of a record settlement.

Binance Founder Changpeng 'CZ' Zhao Released on $175M Bond, Will Be Sentenced in February

Binance settled charges with the DOJ, agreeing to pay $4.3 billion.

www.coindesk.com

Binance will pay $4.3 billion in penalties to various federal agencies and allow multiple monitors to oversee its operations through the next five years.



Crazy times and the market reflected.

 

[Cookie]

4.3 billion in fines is insane

 

[R3k1355]

Guess that's what happens when you get caught dealing in illegal securities

 

[chris_182]

Tons of people got burnt over NFT's, but always seeking to take it one step further, Bored Ape Yacht Club fans managed to get actually burnt at a party.

I'm not entirely sure what they were celebrating.

Bored Ape NFT party a real eyesore, irritated attendees warn

They're ugly but UV lighting blamed for human damage, not the dumb idea

www.theregister.com

early green laser testing probably

 

[R3k1355]

4.3 billion in fines is insane

$10 billion in fines an settlements apparently.

I'd guess if they had refused to cooperate we'd be talking more in decades of prison time considering the shopping list of charges they were up for.

 

[rctempire]

Someone just paid a $3.1 million dollar Transaction fee!!

https://bitinfocharts.com/bitcoin/block/818087/0000000000000000000022d1fbfb5ea34357dc2c341b160abdf2e8c5a774f847

"The sender's wallet was set up just minutes before the transfer, and the recipient received only 55.78 BTC of the original 139.42 BTC that was sent."

Bitcoin Sender Struck With $3.1M Transaction Fee, Largest in History

Antpool mined the block and the sender's wallet was set up just minutes before the transfer.

www.coindesk.com

That is a crazy fee sending.

 

[R-Sport.]

BTC all time high this week $73k

But this is what crypto has come to -

Buying fictional girlfriends of an equally fictional Frog.

 

[G. Brzęczyszczykiewicz]

BTC all time high this week $73k

But this is what crypto has come to -

Buying fictional girlfriends of an equally fictional Frog.

View attachment 1683811

Presumably purchased using fictional currency 😬

 

[R3k1355]

Imagine being this much of a belter, to force your own public shaming.

Judge rules computer scientist not Bitcoin inventor

Judge says Dr Craig Wright is not Satoshi Nakamoto, the cryptocurrency's mysterious inventor.

www.bbc.co.uk