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  1. #9251
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    Quote Originally Posted by MultiVerse View Post
    thanks Lionel.

  2. #9252
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  3. #9253
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    Quote Originally Posted by J. Barron DeJong View Post
    Not doubting the insider game he discloses, as is the game with many startup investments, but he shows his hand in the last tweet where he tries to steer the reader to the company he works at as the better option.

  4. #9254
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    Quote Originally Posted by heckacali View Post
    Not doubting the insider game he discloses, as is the game with many startup investments, but he shows his hand in the last tweet where he tries to steer the reader to the company he works at as the better option.
    Maybe I’m not looking hard enough, or are you referring to his blog and podcast links?

    Either way, what I found most amusing was the description of the ‘rogues gallery’ running Tether.

  5. #9255
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    I have a buy order sitting at 28.3, holding my breath for it to fill. Wasn't able to get any btc below 29k so far...
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  6. #9256
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    Opinion...........

    Inflation keeps rising, stocks keep falling, a war rages in Europe, and the budding market for cryptocurrencies and other digital confections is vaporizing by the day. None of this is cause for joy. But the crypto implosion at least has a cleansing benefit: It offers an opportunity to mop up a speculative and overhyped mess that has gotten badly out of control, snookering gullible investors in the process.

    Signs of carnage are everywhere. The price of bitcoin, the pioneering, 13-year-old cryptocurrency, is down 50 percent in six months. The values of other exotically named digital tokens such as solana, ethereum, XRP and dogecoin (begun as a joke and increasingly behaving like one) have fallen by similar percentages.

    A “stablecoin” called terraUSD, which was supposed to be pegged to the U.S. dollar to facilitate predictable exchanges, collapsed. Non-fungible tokens, which are tradable renderings of digital objects, have lost their luster. The collector who paid $2.9 million for Twitter co-founder Jack Dorsey’s first tweet reportedly chose not to sell it when the best he could fetch was $14,000.

    This all is as painful to enthusiasts as it is confusing for the uninitiated. So, let me explain why the bloodbath, while inevitable, could lead to something better.

    Various forms of cryptocurrencies were dreamed up by a medley of venture capitalists, software coders and entrepreneurs in the past decade to constitute an alternative system for finance and other digital transactions. The thinking was that the global financial system is creaky and controlled by sclerotic governments. A new system based on a decentralized accounting technology called blockchain would democratize the worldwide exchange of goods and services.

    That’s the vision, anyway.

    In practice, crypto adherents have struggled to say exactly what their creation is or, more importantly, what it’s good for. Cryptocurrencies aren’t actual currencies because nearly no one uses them to pay for anything. (Pornography and criminal activity are notable exceptions.) Even Coinbase, a large crypto exchange, charges customers in dollars to trade on its platform. Cryptocurrencies also aren’t securities, like stocks and bonds, though regulators are considering declaring them so in the name of protecting investors.

    Crypto enthusiasts predicted (okay, maybe hoped) their creations would behave like commodities, particularly gold, as a store of value. But the recent swoon in crypto prices in the face of rising inflation has punctured these dreams. Instead, speculative bets on unproven cryptocurrencies have gone bad alongside other failing wagers.

    Warren Buffett got it right recently when he called bitcoin and its ilk unproductive assets. They go up when people pay more for them and down when people pay less. But they have no value unto themselves.

    All this search for meaning would be good and fine if not for all those who have lost real money investing in the imaginary kind. You can draw a straight from the dot-com bubble of the late 1990s to the subprime mortgage debacle a decade later to today’s crypto fad. Each involved the kernel of a good idea that was then puffed up by hucksters, charlatans and other confidence men and women, convincing average consumers they were investing rather than speculating. The high-water mark of this era might prove to be the announcement last month by the staid Fidelity Investments that it would give employers the option to allow employees to allocate a portion of their retirement plans to bitcoin.
    That is one view.
    I have been in this State for 30 years and I am willing to admit that I am part of the problem.

    "Happiest years of my life were earning < $8.00 and hour, collecting unemployment every spring and fall, no car, no debt and no responsibilities. 1984-1990 Park City UT"

  7. #9257
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    I would say there is a lot of truth in that opinion. I only take exception that bitcoin should not be conflated with the rest. That's awfully lazy or disingenuous.
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  8. #9258
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    Quote Originally Posted by shera View Post
    I would say there is a lot of truth in that opinion. I only take exception that bitcoin should not be conflated with the rest. That's awfully lazy or disingenuous.
    How so?
    focus.

  9. #9259
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    Quote Originally Posted by heckacali View Post
    Not doubting the insider game he discloses, as is the game with many startup investments, but he shows his hand in the last tweet where he tries to steer the reader to the company he works at as the better option.
    huh? A rogues gallery of weirdos is a reason to run from a startup.

  10. #9260
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    Quote Originally Posted by Mustonen View Post
    How so?
    Well to put it very simply, under US law bitcoin is a commodity - it is property plain and simple. Gensler agrees. Bitcoin futures trade on the CME, just like corn.

    The others probably don't meet the same high bar. Hester Peirce (SEC Commisioner) has proposed a "safe harbor" three year grace period after which, "Second, a mandatory exit report at the end of the three-year grace period containing either an analysis by outside counsel explaining why the network is decentralized or functional, or an announcement that the tokens will be registered under the Securities Exchange Act of 1934"

    That hasn't passed as law at this time, not sure of the status currently. Situation is in limbo.

    Here's some more info on the safe harbor:
    https://www.sec.gov/news/public-stat...r-proposal-2.0
    https://www.sec.gov/news/speech/peir...ess-2020-02-06
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  11. #9261
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    ^^^ Did not know that. Thx.

    Is Bitcoin a commodity or property?
    The Commodity Futures Trading Commission (CFTC) stated in 2015 that cryptocurrencies are commodities (and hence under their regulatory purview), each being “a basic good used in commerce that is interchangeable with other commodities of the same type”.
    I have been in this State for 30 years and I am willing to admit that I am part of the problem.

    "Happiest years of my life were earning < $8.00 and hour, collecting unemployment every spring and fall, no car, no debt and no responsibilities. 1984-1990 Park City UT"

  12. #9262
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    The others don’t want to pass the bar (if there actually is one)

    regulation that coiners hate serves to legitimize btc when they need it

  13. #9263
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    LOL that bitcoin fans are now in favor of Big Government regulations.


    Sent from my iPad using TGR Forums
    "Zee damn fat skis are ruining zee piste !" -Oscar Schevlin

    "Hike up your skirt and grow a dick you fucking crybaby" -what Bunion said to Harry at the top of The Headwaters

  14. #9264
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    Hahahahahahahahaaaaaaa
    BitMEX founder Arthur Hayes avoids jail time, sentenced to six months of home detention
    https://www.theblockcrypto.com/linke...s-doj-sentence
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  15. #9265
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  16. #9266
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    I was always scared away from yield generating schemes. Somebody explained that the yield represented the risk and that idea stuck with me. I guessed my fear of getting rugged was disproportionate and irrational, but I would have to do so much research to really understand the situation.

    But how could I ever figure out what happened to luna ahead of the fact? I do believe it was an attack by wall street types. They earned a billlion dollars by setting fire to what, 40-60 billion in the ecosystem?

    I have a lot of my assets at Celsius and they are safe in all likelihood. I hate to withdraw, because they recently stopped paying yield to new deposits and I would lose that percentage unless I could become an accredited investor.

    Terra, who did it? at 12:44 in the above vid.
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  17. #9267
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    Bitcoin....who's gotten into it?

    Quote Originally Posted by shera View Post
    I do believe it was an attack by wall street types. They earned a billlion dollars by setting fire to what, 40-60 billion in the ecosystem?
    Luna was funded by “Wall Street types”. You can’t have it both ways. Fact is, that $40-60 billion was just an illusion sold by those same Wall Street types. There is no altruism in crypto. You want a pal get a dog.

  18. #9268
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    Yep.

    https://twitter.com/danheld/status/1...rGP2t643A&s=19

    Sent from my Pixel 6 Pro using Tapatalk

  19. #9269
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    Bitcoin....who's gotten into it?

    Money for Luna came from this guy:

    Since 2010, Vinod Khosla has been engaged in a legal dispute surrounding public access to Martin's Beach, several miles south of Half Moon Bay, California, where he owns adjacent land.[29][30][31] His attempts to close the beach by erecting a gate with armed guards at the road entrance and painting over the welcome sign that existed prior to his ownership of the property has been the subject of legal challenges, popular resentment, and extensive press coverage.[32]

    Martin's Beach was previously a popular family beach and surf spot before Khosla purchased the property adjacent to the beach and blocked access.[33] In August 2017, a Californian court of appeal ruled that Khosla must restore public access to Martins Beach.[34][35] The plaintiffs, Surfrider Foundation, stated that they expected Khosla to take the case all the way to the US Supreme Court.[36][37] In October 2018, the Supreme Court announced that they would not hear the appeal of the California appeals court decision.[38] In November 2018, a San Mateo County court found that the prior owners of the property had not intended for access to Martins Beach to be public. In January 2020, the California Coastal Commission sued Khosla, alleging he is in violation of the California Coastal Act of 1976.[39]

  20. #9270
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    Yeah I spent some time on beaches in California and actually looked up the coastal code. Below the high tide line is public, period.

    But also interesting about the luna funding!
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  21. #9271
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    Quote Originally Posted by stalefish3169 View Post
    Yep.

    https://twitter.com/danheld/status/1...rGP2t643A&s=19

    Sent from my Pixel 6 Pro using Tapatalk

    Funny because true.
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  22. #9272
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    Quote Originally Posted by shera View Post
    Funny because true.
    And also true: the USD has value even though the metrics used to predict value for crypto predict otherwise. If the metrics we follow bring us to this, of what use are the metrics?

  23. #9273
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    Quote Originally Posted by shera View Post
    Funny because true.
    But also kinda false, and by kinda, I mean definitely:

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  24. #9274
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    The USD has value because it's the reserve currency of the world. That confers a special privilege. Not complaining though.

    I'm gonna guess that the early wallets (like Satoshi's) are being counted here. That is lost supply, keys were on hard drives, long gone.
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  25. #9275
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    Bitcoin....who's gotten into it?

    Drumbeats for the demise of the dollar have been loud since the end of Bretton Woods System

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