Bitcoin....who's gotten into it?

[stalefish3169]

1. Ask again late this Friday.

2. Watch the Frontline special on Easy Money Era.

I watched it. It had some interesting footage, but not a lot of it was surprising. I don't really know how someone can watch that and come away thinking that the fed, top government officials, and big business head honchoes are not either incredibly incompetent, corrupt, or both. Also, Neel Kashkari is really something? lol How is that kook still in his position?





If anyone wants to save time, here is the TL;DR:

https://www.youtube.com/watch?v=0akBdQa55b4

[Bunion 2020]

Good on ya, to me it confirmed a lot of what I thought I already knew.

Corrupt or incompetent seems to work.

Which was this?

https://thehill.com/policy/finance/4...-to-cut-rates/

President Trump on Tuesday ramped up pressure on the Federal Reserve to slash interest rates, berating the central bank one week before it is expected to cut borrowing costs for the second time this month.

In a Tuesday tweet, Trump renewed his call for the Fed and Chairman Jerome Powell to slash rates to 0 percent or lower to match much weaker economies in Europe and Asia, one day after the stock market suffered its worst day of losses since 2008.

“Our pathetic, slow moving Federal Reserve, headed by Jay Powell, who raised rates too fast and lowered too late, should get our Fed Rate down to the levels of our competitor nations. They now have as much as a two point advantage, with even bigger currency help. Also, stimulate!” Trump tweeted.

“The Federal Reserve must be a leader, not a very late follower, which it has been!” the president wrote.

Trump nominated Powell to serve as the chief of the Federal Reserve in November 2017.

[stalefish3169]

Good on ya, to me it confirmed a lot of what I thought I already knew.

Corrupt or incompetent seems to work.

Which was this?

https://thehill.com/policy/finance/4...-to-cut-rates/

I'd say that was Trump being a patsy for corrupt politicians. I don't think it's any coincidence that Gary Cohn and Paul Ryan both quit right after the tax cuts passed. It's always about the money.

Although Trump ran as an R, he really only did so because he was (is) an opportunistic grifter. Trump really didn't care about the country. He doesn't really even care about his own family. He's a sociopath who only cares about himself.

[Bunion 2020]

Damn M. we do agree. I would expand on the sugar high that was QE except I had shoulder surgery 5 days ago and typing lefty sucks. Best of luck to ya.

[stalefish3169]

Damn M. we do agree. I would expand on the sugar high that was QE except I had shoulder surgery 5 days ago and typing lefty sucks. Best of luck to ya.

Good luck with the shoulder surgery and get well soon. I hope you don't have to spank it switch for too long. ; )

[jm2e]

Damn M. we do agree. I would expand on the sugar high that was QE except I had shoulder surgery 5 days ago and typing lefty sucks. Best of luck to ya.

Was there an option to use crypto to pay for medical bills?


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[stalefish3169]

Cool cool cool.

https://www.wsj.com/articles/signatu...-fdic-9b825e2e

via https://www.removepaywall.com/ and archive.today

"We never thought we’d write that headline. But on Sunday the Federal Deposit Insurance Corp. announced that New York Community Bancorp’s Flagstar Bank will assume all of Signature Bank’s cash deposits except for those of crypto companies. This confirms Mr. Frank’s suspicions—and ours—that Signature’s seizure was motivated by regulators’ hostility toward crypto.
Mr. Frank alleged last week that regulators seized Signature, whose board he served on, “to send a message to get people away from crypto.” It increasingly appears that way. Reuters reported last week that the FDIC was requiring any buyer of Signature to give up all crypto business at the bank. The FDIC denied this.
But the agency’s statement says that “Flagstar Bank’s bid did not include approximately $4 billion of deposits related to the former Signature Bank’s digital-assets banking business.” That means crypto companies will have to find another bank to safeguard their deposits. Many say that government warnings to banks about doing business with crypto customers is making that hard.
CoinDesk reported last week that crypto firms were looking for bank accounts off-shore such as at FV Bank in Puerto Rico, Jewel Bank in Bermuda, and Tether and FTX-tied Deltec in the Bahamas. Moving dollar deposits of U.S. crypto companies and their customers offshore will make them less safe and potentially more vulnerable to money laundering.
In other words, regulators are undermining their ostensible goals. Their crypto crackdown will cost other banks and their customers. The FDIC says it “estimates the cost of the failure of Signature Bank to its Deposit Insurance Fund to be approximately $2.5 billion.” If Flagstar had assumed crypto deposits, there would be no need for the insurance fund to guarantee them.
As usual, financial regulators shoot first, and make others pay later."

[JimmyCarter]

Cool cool cool.

https://www.wsj.com/articles/signatu...-fdic-9b825e2e

via https://www.removepaywall.com/ and archive.today

"We never thought we’d write that headline. But on Sunday the Federal Deposit Insurance Corp. announced that New York Community Bancorp’s Flagstar Bank will assume all of Signature Bank’s cash deposits except for those of crypto companies. This confirms Mr. Frank’s suspicions—and ours—that Signature’s seizure was motivated by regulators’ hostility toward crypto.
Mr. Frank alleged last week that regulators seized Signature, whose board he served on, “to send a message to get people away from crypto.” It increasingly appears that way. Reuters reported last week that the FDIC was requiring any buyer of Signature to give up all crypto business at the bank. The FDIC denied this.
But the agency’s statement says that “Flagstar Bank’s bid did not include approximately $4 billion of deposits related to the former Signature Bank’s digital-assets banking business.” That means crypto companies will have to find another bank to safeguard their deposits. Many say that government warnings to banks about doing business with crypto customers is making that hard.
CoinDesk reported last week that crypto firms were looking for bank accounts off-shore such as at FV Bank in Puerto Rico, Jewel Bank in Bermuda, and Tether and FTX-tied Deltec in the Bahamas. Moving dollar deposits of U.S. crypto companies and their customers offshore will make them less safe and potentially more vulnerable to money laundering.
In other words, regulators are undermining their ostensible goals. Their crypto crackdown will cost other banks and their customers. The FDIC says it “estimates the cost of the failure of Signature Bank to its Deposit Insurance Fund to be approximately $2.5 billion.” If Flagstar had assumed crypto deposits, there would be no need for the insurance fund to guarantee them.
As usual, financial regulators shoot first, and make others pay later."

It’s also possible that, given crypto is an intertwined clusterfuck at the moment, no bank wants to get involved in a situation where said cash deposits are dragged into a legal proceeding or claimed away?

[J. Barron DeJong]

It’s also possible that, given crypto is an intertwined clusterfuck at the moment, no bank wants to get involved in a situation where said cash deposits are dragged into a legal proceeding or claimed away?

Yeah, shocking that no one wanted to take on the money laundering portion of the bank.

[dunfree]

It’s also possible that, given crypto is an intertwined clusterfuck at the moment, no bank wants to get involved in a situation where said cash deposits are dragged into a legal proceeding or claimed away?

if only there were another recently failed bank with illiquid positions that nobody wants to buy we could point at!

[J. Barron DeJong]

https://twitter.com/johnreedstark/st...sR_NcRK2VkCfkg

stalefish, you voting GOP or independent next cycle?

[stalefish3169]

https://twitter.com/johnreedstark/st...sR_NcRK2VkCfkg

stalefish, you voting GOP or independent next cycle?

I'll have to assess each race individually when the ballot picture is clear. We don't really have any independent choices anymore, at least for the top of the ticket. Dems can fuck right off after they've rigged consecutive primaries for HRC and Biden. And now they've changed the primary state order to make the chances of getting anyone who is outside of the neoliberal wing even more miniscule.

The groupthink to run Biden again is extremely troubling. Dude is clearly not all there. I think he beats Trump again in a close race, but Desantis murders Biden, IMO. I think Biden is in extra serious trouble if economy is in the shitter, which is looking likely.

Also, the WH report is stupid. The US is giving up a massive competitive advantage for its people in order to keep the oligarchy donor class happy. Truly shameful stuff.

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[stalefish3169]

This is gangster government. It's just ridiculous.

https://twitter.com/iampaulgrewal/st...HNcPXYWPA&s=19

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[dunfree]

“We got a financial license in Singapore” isn’t much of a flex

anyways, keep on the goldbug/coinbro chain

[J. Barron DeJong]

“We met with the SEC more than 30 times to have our Ponzi accredited, but we’ve been given no guidance.”

[JimmyCarter]

https://www.cnbc.com/2023/03/22/sec-...iolations.html

“First they came for Jake Paul and Lindsay Lohan, and I said nothing for I was happy to see them eat shit”


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[J. Barron DeJong]

“We’ve been very selective. We’re only pumping 240+ shit scams.”

[stalefish3169]

“We’ve been very selective. We’re only pumping 240+ shit scams.”

"Yo, Can we get a spot BTC ETF" - US investors

"Absolutely fucking not!" - SEC

"How about a meme stock ETF?" - Nobody

"LOL, Sure, go right ahead. We are very serious about protecting investors." - SEC

[J. Barron DeJong]

"Yo, Can we get a spot BTC ETF" - US investors

"Absolutely fucking not!" - SEC

"How about a meme stock ETF?" - Nobody

"LOL, Sure, go right ahead. We are very serious about protecting investors." - SEC

That meme stock ETF is just a basket of publicly traded companies that went through all the hurdles, and met all the regulatory requirements to become publicly traded, no?



That’s the difference.

[stalefish3169]

That meme stock ETF is just a basket of publicly traded companies that went through all the hurdles, and met all the regulatory requirements to become publicly traded, no?



That’s the difference.

JFC dude. This is literally the next post in the thread.

https://twitter.com/iampaulgrewal/st...60034778513408

"Over the past 9 months, CB has met with the SEC more than 30 times, sharing details of our business to build a path to registration. During this time, the SEC hasn't given basically 0 feedback on what to change, or how to register. Instead, today we received a Wells notice. 2/15"

This is the next one. https://twitter.com/iampaulgrewal/st...60036791762944

"When CB filed to go public in 2021, our S1 described our business in much detail, including 57 references to staking and details on our asset listing process. The SEC approved us to go public, knowing those details. Now they have changed their mind on what is allowed. 3/15"

There's an entire thread about how they've tried to work with regulators and be in compliance, but the SEC is not acting in good faith.

[J. Barron DeJong]

JFC dude. This is literally the next post in the thread.

https://twitter.com/iampaulgrewal/st...60034778513408

"Over the past 9 months, CB has met with the SEC more than 30 times, sharing details of our business to build a path to registration. During this time, the SEC hasn't given basically 0 feedback on what to change, or how to register. Instead, today we received a Wells notice. 2/15"

This is the next one. https://twitter.com/iampaulgrewal/st...60036791762944

"When CB filed to go public in 2021, our S1 described our business in much detail, including 57 references to staking and details on our asset listing process. The SEC approved us to go public, knowing those details. Now they have changed their mind on what is allowed. 3/15"

There's an entire thread about how they've tried to work with regulators and be in compliance, but the SEC is not acting in good faith.

Maybe they were acting in good faith, but the more they learned about these new shitty investment vehicles, the more concern they had about approving them?

[neufox47]

“The SEC hasn’t given basically 0”. Literally means they gave feedback. Is that actually a typo?


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[stalefish3169]

https://twitter.com/johnreedstark/st...sR_NcRK2VkCfkg

stalefish, you voting GOP or independent next cycle?

https://twitter.com/ericyakes/status...zt6BzsMiw&s=19

"The Whitehouse dedicated 30 pages of its annual report to tell you that crypto isn’t worth anything and isn’t an alternative to fiat

It then says that “faith” in the dollar is why it exists."

The report also says dollars are only worth something because of the strength of the US military which is a point I've been arguing for years, yet you dudes somehow think can be ignored. Yep! The US military, the largest fossil fuel consumer in the world, is someone absolved from its impact on climate change but BTC bad.

It's scary how accurate this talk is becoming.

https://www.youtube.com/watch?v=stN03wk_Wzs

TLR sociopathic politicians and oligarchs will force you to use their failing currency at all costs so they can stay in power even as they don't play by the same rules.

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[J. Barron DeJong]

I am shocked, shocked, that yesterdays Twitter tantrum was in any way misleading:



https://www.linkedin.com/pulse/why-c...ohn-reed-stark

[CarlMega]

TLR sociopathic politicians and oligarchs will force you to use their failing currency at all costs so they can stay in power even as they don't play by the same rules.

The US holds assets of $270 trillion. It is further backed by land/territory holdings, natural resources, world influence, human capital, military might and the continually realized potential that results in even more capital; it's energy expenditure directly betters the lives of its citizens. Bitcoin standing is dependent on random number generators and brute force math problems that don't produce squat but a drain on resources.