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https://twitter.com/SVR13/status/1401951423437365248
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Jun 7, 2021 22:04
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| # ¿ May 14, 2024 13:01 |
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me, a cryptocurrencyist: i firmly believe in cryptocurrency because evil governments issue fiat money, crypto is pure and i will fight people on the internet over it also me: i am so glad that el salavador is accepting bitcoin that i will willfully ignore the things the government has done... BITCOIN! also me: i see nothing wrong at all with tether. so what if they hold tons of commercial paper no one is able to account for? that's fine. so what if no one in that space has ever heard of tether buying up any commercial paper? that's fine too. and oh, they have like 3 employees running something supposedly worth billions of dollars? also fine. they're just really efficient. that's the power of CRYPTO!
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Jun 11, 2021 20:18
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ah nvm he said this: https://mobile.twitter.com/mcuban/status/1405306497257586688 lol not suspicious edit: just realized.. he probably caused the run in the pool when he yanked all his money as a liquidity provider...lol Strong Sauce fucked around with this message at 08:33 on Jun 17, 2021 |
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Jun 17, 2021 08:25
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i do feel bad for some of these people who didn't know any better. but everytime they open their stupid mouth about some "good news" regarding bitcoin... makes me hope they lose it all. ----- there was the guy on the tiktokinvestors account who said he quit his job and sold all his long term retirement funds and also took all his savings and put that into btc when it was at 48k... when bitcoin started dipping after it's 60K peak he made a tiktok saying, "no one knows why its going down".... i wish i had seen that when he posted it because i wanted to ask him, "well, why was it going up?" these people have no idea what bitcoin is other than something they hope will go up. that dogecoin guy is even sadder. he's lost well over a million dollars holding onto the doge he bought with his lifesavings.
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Jun 22, 2021 16:51
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bitcoin back above 30K, up to 32K. normal stuff
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Jun 22, 2021 18:42
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jokes posted:Was it Tether that had like 30% of its balance sheet be in "cash equivalents" without any further information? 75%, but it had a further breakdown, of the 75%, 65% was "commercial paper", enough where they'd be one of the biggest holders of commercial paper/aka short term debt. 3.87% was in cash which if you take that that is 75% of their total holdings amounts to just under 3% of the amount they should have is backed by actual cash. there's
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Jun 22, 2021 23:17
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Greenplastic posted:When people in the Bitcoin Reddit say Bitcoin transactions are slow and expensive it is countered by mentioning some kind of lightning network or something (supposedly used in that video of a guy transferring coin with a cellphone in El Salvador) which they say has all the benefits of Bitcoin ("non-custodial", safe, bla bla) but none of the downsides, and is settled later, bringing the transactions onto the chain or whatever the way the lightning network works is ahead of time you put bitcoins into a "channel" which is basically a transaction on the blockchain, this channel is shared by people who regularly transact with each other. so lets say alice and bob both agree to commit 1 bitcoin a piece to this channel. once the bitcoin blockchain confirms this transaction (which is basically a smart contract that says both sides have agreed and put in 1 bitcoin). you now can trade up to 1 bitcoin between the people in the channel. so alice and bob can trade money owed back and forth. lets say alice gets mad at bob and decides to "end" the channel. she can say she's done and the smart contract that opened the channel resolves who owes who what and marks that on the smart contract. so if at the end alice sent over half a bitcoin to bob. the contract figures this out and resolves this. on the "real" blockchain, it resolves to alice sending bob that half a bitcoin. bob gets 1.5 bitcoins returned to his wallet.. and life goes on. additionally. if bob holds channels with alice and carol. and alice wants to send money to carol, she can do that by using bob as an intermediary between them. so if alice wants to send 0.25 bitcoins to carol, she sends it through to bob, who then sends 0.25 bitcoin through to carol. also he skims a small transaction fee for handling it. now the biggest issues with lightning. 1. if you don't have a relationship with the person you're trying to send bitcoin to, and you're probably only going to send this person money one time.. then lightning network is pointless. you need to generate the smart contract and wait for the transaction to resolve on the blockchain. at this point, you may as well have just sent the person the bitcoin as the transaction. 2 "ah. but you just said you can connect channels from different people! if i don't have a relationship with carol, i can just send through bob." yes this is true.. if and only if the chain of channels you need to send money has enough bitcoins to make the transaction. so if along the individual channels of alice, bob, carol and david. if alice wanted to send david 0.5 bitcoin, and carol only has 0.25 bitcoin on the carol and david channel, then the transaction can't be done. 3. lastly, and i don't know if this would actually be an issue... is that bitcoin runs on miners getting paid fees to manage transactions. arguably if the lightning network ends up being successful.. that's fewer incentives for miners to want to process the transactions. so it will either raise the fees or reduce verification of transactions.. again.. i may be completely messing up what the lightning network is.. but using it is only useful if its someone you transact with enough to want to open a channel between you two. for example, if you went to a coffee place.. you may open a channel between them so you can just get your coffee and have it resolve instantly.
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Jun 23, 2021 10:16
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Somfin posted:This is the lightning network bullshit where they're not actually sending BTC to each other right its bitcoin beach where i'm sure they have a lightning node running handling the town's transactions. ilmucche posted:I feel like I already know the answer to this but did the tether printer folks ever show their work that every tether is backed by a real USD? no. the true amount of cash is <3%, liquid assets i forget but not that much better.
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Jun 23, 2021 11:14
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Sinecure posted:Isn't it Strike's private Lightning Network running there because the 'real' one is even more of a poo poo show? Completely trustless & decentralised! https://www.latimes.com/world-nation/story/2021-06-22/in-el-salvadors-bitcoin-beach quote:“Bukele is helped by these bitcoin bros who are only interested in getting money from working-class Salvadorans,” said Ricardo Valencia, a communications professor at Cal State Fullerton and a native of El Salvador. “These rich Americans are going there and they’re changing the financial system just by having the ear of the president.” quote:“At the beginning I thought it was weird,” said Roxana Valles, the 42-year-old proprietor of a small beachside grocery store where a parrot named Bonito greets customers. “But it’s turned out to be a really nice experience.” quote:Customers can pay using a variety of smartphone apps created for small bitcoin transactions. Two of her brothers in the United States now use the technology to send home remittances, avoiding commissions of 10% or more charged by traditional money wiring services. quote:Most importantly, she said, bitcoin has allowed her to invest for the first time. In March, when the value of bitcoin spiked, she made the equivalent of $500, money she cashed out into dollars put back into the store. quote:But bitcoin’s wild fluctuations in value mean users can also get burned. quote:“It’s the devil’s money,” said one restaurant owner who does not accept bitcoin and declined to give her name out of fear of retribution from the town’s bitcoin evangelists. quote:[...] bitcoin ATM, where people can exchange the digital currency for real dollars for around a 5% fee. Since the bitcoin law was passed, hundreds of people from other parts of the country have showed up, feeding greenbacks into the machine to buy bitcoin. At one point, the machine stopped working and a local woman started taking dollars on her own, charging an 8% commission. quote:Hércules grumbled about the time that his taxi driver son was paid in bitcoin. By the time he converted it into dollars, it had lost nearly 50% of its value. There's a section about Strike.. but the Bitcoin Beach thing was already there before Strike. Strike's whole thing is its suppose to protect from the bitcoin swings... Oh but how will El Salvadorians be protected from this risk? quote:The law established a $150-million government trust fund that Bukele says will give Salvadorans the option to convert their bitcoin to dollars if they wish. quote:That has raised concerns about corruption, with the Central American Institute for Fiscal Studies saying the plan will turn El Salvador into a “money laundering paradise.” It didn’t help that the day before the Bitcion announcement in Miami, Bukele, whose health and finance ministers have both been accused of graft, had pulled out of an anti-corruption accord with the Organization of American States. yes perfectly normal here. lightning network works so no need to worry about the rest of this all.
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Jun 23, 2021 17:02
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Saw this off Fidelity quote:June 24 (Reuters) - Andreessen Horowitz is launching a new $2.2 billion fund to invest more money in crypto networks, Venture capital giant said in a blog post on Thursday. [...] quote:Andreessen Horowitz also said Bill Hinman, the former director of the U.S. Securities and Exchange Commission's (SEC)division of corporation finance, will join its crypto arm as an advisory partner.
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Jun 24, 2021 17:03
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https://twitter.com/defiprime/status/1409370786004045824 While details are yet scarce, block explorer Polygonscan shows that 202,000 USDC and 46,000 USDT stablecoins were suddenly drained from SDO’s smart contract today—worth around $248,000 in total. As a result, SafeDollar’s price—which was supposed to always be equal to $1 since it’s a stablecoin—has plummeted to zero, according to the protocol’s own website.
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Jun 28, 2021 19:08
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and another one https://twitter.com/coffeebreak_YT/status/1410076749002690561
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Jun 30, 2021 06:35
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but what if... i change 1 to 2?
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Jun 30, 2021 08:47
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no clue about the context, but lol https://twitter.com/ParikPatelCFA/status/1410593464425848833
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Jul 1, 2021 20:32
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CoolCab posted:it wasn't an accident, which is really the wildest part. someone went "you know what i want to do, is make GPUs impossible to buy." and they did it! Chia is increasing the prices on hard drives so if you're looking into one because you're running out of space or just want more space I suggest you buy sooner rather than later.
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Jul 1, 2021 20:50
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https://twitter.com/CasPiancey/status/1412512802917404672
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Jul 7, 2021 01:22
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https://twitter.com/Plinz/status/1413012411418779654
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Jul 8, 2021 23:33
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https://twitter.com/TikTokInvestors/status/1413325543731310595
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Jul 11, 2021 08:06
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i can't believe they acttually said, "do your own research"
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Jul 15, 2021 01:32
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https://twitter.com/dee_bosa/status/1415357381685436429
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Jul 16, 2021 05:03
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literally watching bitcoin crash under 30k... someone is buying the dip to prop it up though.
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Jul 20, 2021 04:18
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tether hasn't printed much money in a while..only thing that could technically prop it up is USDC. what's triggering this new selloff but its probably also this news: https://twitter.com/DelRayMan/status/1417304092574195713
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Jul 20, 2021 04:31
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i don't know if it'll get back to 30k, but there are a lot of people trying really hard to shoot it back up to that price
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Jul 20, 2021 06:12
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quote:(Reuters) - Electric-car maker Tesla Inc ( TSLA ) will most likely restart accepting bitcoin as payments, Chief Executive Officer Elon Musk said at a conference on Wednesday.
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Jul 21, 2021 20:21
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https://www.cnbc.com/2021/07/21/elon-musk-jack-dorsey-speak-about-cryptocurrency-at-b-word-conference.html The price of ethereum rose Wednesday afternoon after Tesla and SpaceX CEO Elon Musk said he owns the cryptocurrency at The B Word conference, an event hosted by the Crypto Council for Innovation.
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Jul 21, 2021 23:31
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i thought bitcoin had imploded given the amount of posts in here but i guess it was just seraph?
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Jul 25, 2021 00:22
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11 hours ago 186million tether went into binance, then 4 hours ago binance just created nearly 60+ million BUSD from thin air and bitcoin suddenly starts climbing hmm very interesting.
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Jul 26, 2021 07:28
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Diva Cupcake posted:BTC is up like 35% over the past week and from what I can tell it's based off nothing at all. Literally nothing. Strong Sauce posted:11 hours ago 186million tether went into binance, then 4 hours ago binance just created nearly 60+ million BUSD from thin air and bitcoin suddenly starts climbing hmm very interesting.
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Jul 26, 2021 20:10
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if a dollar is 3 cents. yes tether is fully backed by a dollar
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Aug 6, 2021 06:02
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https://twitter.com/deitaone/status/1424791464874332164?s=21 The guy we hired to help us navigate the SEC has quit. This is good for Bitcoin …
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Aug 9, 2021 19:30
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we're going to find out they left their privkey in a github commit, aren't we? also lol that this news doesn't affect prices in the slightest. definitely very normal for a market to not respond to hackers stealing 600 million.. its fine.
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Aug 10, 2021 19:36
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smellmycheese posted:Snowden laying down the sick burns eh sounds like he's pro-bitcoin and just doesn't want to hear pitches from new cryptocurrencies
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Aug 20, 2021 10:07
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i have some stock in Visa. its been going down the past week or so... okay what's the news on Visa? https://www.cnbc.com/2021/08/23/visa-buys-cryptopunk-nft-for-150000.html quote:Visa jumps into the NFT craze, buying a ‘CryptoPunk’ for $150,000 What in the gently caress... how does this even make sense for Visa to buy this. quote:“We think NFTs will play an important role in the future of retail, social media, entertainment, and commerce,” Cuy Sheffield, head of crypto at Visa, said in a blogpost Monday. Okay what the gently caress does that have to do with Visa....
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Aug 25, 2021 20:01
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He's head of crypto at Visa... VP position. https://twitter.com/VisaNews/status/1429745230023208969
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Aug 25, 2021 20:15
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those look more like mantises than goats.
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Aug 27, 2021 18:29
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even beeple at the very least sent you a customized LCD frame that displayed the NFT you bought. i mean not worth the millions but that was at least some effort. overall i'm honestly just confused about it, there is no value.. even the technical design of NFTs... nearly all of them are poorly implemented in a rush to sell off junk assets. fish and chips and dip posted:Cross posting from the r/relationships thread i feel sad for the girl. dude spent his life savings on an NFT to propose to his gf? this guy is honestly a moron, not because he bought that NFT.. well he is for doing that, but the bigger mistake is your girlfriend asked you not to do this poo poo because you were terrible at it and you ended up just lying to her and you're posting on a loving internet forum because you don't even understand any of the mistakes you made. "What do I do?" Buddy you don't even listen to your own girlfriend what's the likelihood you'll listen to random internet nerds? fake edit: found the thread, someone said the poster wrote about hinge a couple months back.. so most likely fake? maybe? hopefully? okay fess up who wrote it>?
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Aug 31, 2021 09:34
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bernie madoff is a good man, i got some profit from my investment.. - first person involved in madoff's ponzi
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Aug 31, 2021 18:51
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https://twitter.com/coffeebreak_YT/status/1435080593818198017
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Sep 7, 2021 07:19
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bitfinex threads are.. interesting. https://twitter.com/Bitfinexed/status/1435390934045315074 https://twitter.com/Bitfinexed/status/1435293905625489412 and this whole thread about the possibility that tether (having previously been ripped off by crypto capital) has too much money in china to the point where their chinese counterparts may just gently caress them over since tether has no recourse https://twitter.com/Bitfinexed/status/1435419301645799433
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Sep 8, 2021 03:30
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| # ¿ May 14, 2024 13:01 |
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Parkingtigers posted:I don't know Bitfinexed, I'm just a casual mocker of buttcoins, but I do know that Jennifer Zeng account they're quoting is an incredibly dubious source that nobody should be touching with a bargepole. An Epoch Times associated insane conspiracy theorist who is terrible at showing provenence of the materials, and adds her own layer of bullshit she on top. That's not to say there isn't factual material in her posts, but good luck separating it from the pile of poo poo it has been served in. yeah thanks for that. does look like it is a protest about wages, and about evergrande. i don't think that part is false. it is indeed speculative that tether is buying evergrande commercial paper.. the running theory is that because no one in the US, nor EMEA have ever heard of Tether... there seems to be only one area left that they could buy "international" commercial paper from. especially that much. the obvious hole is how they'd buy chinese commercial paper since tether can't buy directly. what chinese bank would allow them to buy it.. i guess we'll find out soon enough... evergrande is imploding right now.
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Sep 8, 2021 10:29
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