I believe Grayscale owns over 600,000 BTC and only can sell shares of what they own.....which is why they have Trusts. Right? Nothing is perfectly safe, but it seems better than exchanges!
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OT: Bitcoin, Altcoins, NFT's & All Things Crypto
- Thread starter bob-loblaw
- Start date
Whether the crypto market goes up or down, your hatred for ETH is a constant. 😜
"unauthorized access"
lolz........ same guy who stole from on-line poker was incharge of security for these guys....
it's wasn't "unauthorized"..... it was the rats getting their last little piece while they could...
What is a lot?
BTC's current market cap is $317 Billion.
Some might say $100 billion is a lot.
several pensions tied to this, only going to get worse and as I've said, keep some powder dry
Anyone who thinks blockchain is going away is a full on retard and deserves to be ignored. Even Hellen Kellar can see the value
Anyone who thinks blockchain is going away is a full on retard and deserves to be ignored. Even Hellen Kellar can see the value
not sure really, one thing is for certain in that there is very little buzz or interest in crypto right now. What is needed is for more corporations to add to balance sheets and retail adoption. Every house on the street has a crypto desk, pos usage is widespread and it's global but things like this and lack of buzz do make it harder and longer for wider adoption.
Eth has the most utility
Agreed on ETH. Fidelity is launching a platform soon. Hoping to buy one hell of a dip for ETH or ETHE!
It's not a hatred. It's just flawed. The gas fees were idiotic, essentially eliminating any ability to add smart contracts to everyday life. Lets say Rutgers went with NFt tix run on a sidechain of ETH; the fees would have amounted to Ticketmaster charging 100% fee on any ticket.
Now PoS is bullshit. They drank the ESG koolaid. The reality now is that you have a multi sig chain with a head of it. It can (and will be) compromised by a government or some other entity at some point if its not already. It basically takes the idea of decentralized finance and shits on it.
Go back and look at that tweet thread I posted. Look at the company who built and owns MetaMask (primary ETH softwallet) and Infura (what Uniswap runs on) Look who owns it, then tell me again its DeFi.
Crypto became a $$$ grab for traditional finance. And they made their money. And now I remain hopeful that people realize that all these alts are straight shit.
Well... it had a trillion dollar+ cap for some time.
There's probably more to fall in the coming weeks. crypto . com seems to be the most concerning short term.
Think the severity of the recession will dictate how long it takes the overall btc market to settle. If we plunge into a serious recession the price will certainly go lower as people will look to unload their "risk assets".
Lastly, this video is amazing
ETH didn't just drink the ESG koolaid they are all in with the WEF. They are totally compromised.
POS and the merge will eventually allow gas fees to be significantly cut. Never would have happened with POW.
Well heres a positive out of all of this
theankler.com
H'wood FTX Frenzy as Michael Lewis Reveals He Spent 6 Months with Founder
Author compares Sam Bankman-Fried, Binance's CZ to 'Luke Skywalker and Darth Vader' in email sent by CAA
theankler.com
not when it's front page news and not when taxpayers are on the hook and especially when using custy accounts to fund collateral. Point is, it's the worst kind of press at the worst time
And this is why decentralization will never work:
www.cnbc.com
This entire debacle is probably music to regulators ears. Not to mention the US never wanted crypto to challenge the dollar. Just wait until congressional hearings…
Sam Bankman-Fried’s Alameda quietly used FTX customer funds for trading, say sources
Sam Bankman-Fried's trading firm was able to quietly use customer funds from his exchange FTX without sounding alarm bells, sources say.
This entire debacle is probably music to regulators ears. Not to mention the US never wanted crypto to challenge the dollar. Just wait until congressional hearings…
Not disagreeing that this is terrible optically, but this is an example of centralization. They are a central exchange. The problem is they were located offshore. This doesn’t happen at coinbaseAnd this is why decentralization will never work:
Sam Bankman-Fried’s Alameda quietly used FTX customer funds for trading, say sources
Sam Bankman-Fried's trading firm was able to quietly use customer funds from his exchange FTX without sounding alarm bells, sources say.
This entire debacle is probably music to regulators ears. Not to mention the US never wanted crypto to challenge the dollar. Just wait until congressional hearings…
Yeah, that’s because Coinbase is a publicly traded company and doesn’t issue any BS tokens like FTT. Given everything we’ve seen over the past 6 months and looking ahead, what could possibly be a catalyst for the end of crypto winter? Unless rampant speculation returns what’s the driver?
^^^^^And this is why decentralization will never work:
Sam Bankman-Fried’s Alameda quietly used FTX customer funds for trading, say sources
Sam Bankman-Fried's trading firm was able to quietly use customer funds from his exchange FTX without sounding alarm bells, sources say.
This entire debacle is probably music to regulators ears. Not to mention the US never wanted crypto to challenge the dollar. Just wait until congressional hearings…
Proves you are confused. You just cited an example of centralization to complain about decentralization. Uh?
Says the guy who loves the centralized coin :)
Sorry, i had to
From the crypto team at ARK:
In our view, FTX’s insolvency is one of the most damaging events––potentially worse than the 2014 Mt. Gox hack––in crypto history. Caused by one of the revered leaders of the industry, this collapse has impacted crypto’s reputation dramatically. It could delay institutional crypto adoption by years and perhaps give regulators license to take draconian measures. As Coinbase CEO Brian Armstrong noted in a response to Elizabeth Warren’s call for more aggressive enforcement, “FTX was an offshore exchange not regulated by the SEC. The problem is that the SEC failed to create regulatory clarity here in the US, so many American investors (and 95% of trading activity) went offshore.”
While all of the ramifications are unclear, FTX’s and Alameda’s bankruptcies could cost users and investors as much as $50 billion. In addition, both FTX and Alameda have various exposures to dozens of companies and protocols, including BlockFi, Solana, Skybridge Capital, Yuga Labs, Voyager, and a host of others on a list here.
Now we need the answers to several important questions: How much exposure to FTX and Alameda did these entities have? How many entities that did deals with the now bankrupt companies were obligated to custody their cryptoassets with––and have their treasuries managed by––FTX? Will they face claw back provisions if courts grant liquidity preferences to those with mismanaged customer deposits?
Amid this uncertainty and gloom, we can find several silver linings. Most important, public blockchain networks like Bitcoin and Ethereum have not skipped a beat during this crisis and continue to operate smoothly: their transparency, openness, and audibility have been crucial to their operation.
Second, time and again, the crypto market punishes centralized entities that lack transparency, which is pushing the ecosystem toward more decentralization and transparency. Exchanges, including Binance, have agreed to adopt “Proof of Reserves”––a cryptographically verified proof that assets match liabilities one-to-one, and many more market participants now understand the value of self-custodying their assets.
ARK’s conviction in the long-term promise of public blockchains across money, finance, and the internet is not wavering. While the crypto asset market could labor under selling pressure and liquidity crunches in the short term, we believe this crisis is purging bad actors and will enhance the health of the crypto ecosystem with more transparency and decentralization in the longer term.
Fourteen years ago, the Genesis block of the Bitcoin blockchain included these words:
“Chancellor on Brink of Second Bailout for Banks”
The call was to move away from trusted third parties and centralized top-down control toward more open, transparent, and decentralized software.
At this time, let us not forget why we are here.
In our view, FTX’s insolvency is one of the most damaging events––potentially worse than the 2014 Mt. Gox hack––in crypto history. Caused by one of the revered leaders of the industry, this collapse has impacted crypto’s reputation dramatically. It could delay institutional crypto adoption by years and perhaps give regulators license to take draconian measures. As Coinbase CEO Brian Armstrong noted in a response to Elizabeth Warren’s call for more aggressive enforcement, “FTX was an offshore exchange not regulated by the SEC. The problem is that the SEC failed to create regulatory clarity here in the US, so many American investors (and 95% of trading activity) went offshore.”
While all of the ramifications are unclear, FTX’s and Alameda’s bankruptcies could cost users and investors as much as $50 billion. In addition, both FTX and Alameda have various exposures to dozens of companies and protocols, including BlockFi, Solana, Skybridge Capital, Yuga Labs, Voyager, and a host of others on a list here.
Now we need the answers to several important questions: How much exposure to FTX and Alameda did these entities have? How many entities that did deals with the now bankrupt companies were obligated to custody their cryptoassets with––and have their treasuries managed by––FTX? Will they face claw back provisions if courts grant liquidity preferences to those with mismanaged customer deposits?
Amid this uncertainty and gloom, we can find several silver linings. Most important, public blockchain networks like Bitcoin and Ethereum have not skipped a beat during this crisis and continue to operate smoothly: their transparency, openness, and audibility have been crucial to their operation.
Second, time and again, the crypto market punishes centralized entities that lack transparency, which is pushing the ecosystem toward more decentralization and transparency. Exchanges, including Binance, have agreed to adopt “Proof of Reserves”––a cryptographically verified proof that assets match liabilities one-to-one, and many more market participants now understand the value of self-custodying their assets.
ARK’s conviction in the long-term promise of public blockchains across money, finance, and the internet is not wavering. While the crypto asset market could labor under selling pressure and liquidity crunches in the short term, we believe this crisis is purging bad actors and will enhance the health of the crypto ecosystem with more transparency and decentralization in the longer term.
Fourteen years ago, the Genesis block of the Bitcoin blockchain included these words:
“Chancellor on Brink of Second Bailout for Banks”
The call was to move away from trusted third parties and centralized top-down control toward more open, transparent, and decentralized software.
At this time, let us not forget why we are here.
World Economic Forum has scrubbed it’s FTX crypto page lmao
web.archive.org
FTX
The World Economic Forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas. Incorporated as a not-for-profit foundation in 1971, and...
web.archive.org
Armstrong does a great job of breaking it down on the All In podcast this week. Time stamped in the notes to skip right to it
World Economic Forum has scrubbed it’s FTX crypto page lmao
FTX
The World Economic Forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas. Incorporated as a not-for-profit foundation in 1971, and...
😂
The fact that he’s casually giving newspaper interviews and jokingly tweeting right now really adds fuel to the conspiracy theorists’ fire about him being a cia project and a great one at that
I love conspiracy theories, they are like a good fiction novel. This is an entertaining one
This one is fairly benign.
But we've seen a fair amount of violent reactions to these conspiracies of late. Which makes them less fun.
I wouldn't call this a conspiracy theory. The dots are pretty easy to connect.
This paragraph from the below article is pretty damning.
SBF, you may recall, was one of the biggest donors to President Joe Biden, while his parents—both Stanford law professors—have ties to the party. His mother, Barbara Fried, leads a group called Mind the Gap that helps raise Silicon Valley cash for Democrats, while his father, Joseph Bankman, drafted tax legislation for the powerful Sen. Elizabeth Warren (D-Mass). It’s not a stretch to imagine SBF sought to exploit these political ties to his benefit.
The FTX debacle makes SEC Chair Gensler look bad—again
Gary Gensler missed the biggest crypto collapse to date. It’s a bad look for the SEC and by extension the Democrats.
That NYTimes article was straight horeseshit. I've never seen such a puffpiece on a criminal. Dude stole 10B!
Here's the link again. https://archive.ph/mxOh5
sorry for the spammy looing URL, just stripping it of the paywall for those w/o NYT access.
Here's a good Twitter thread on all this
First pump up an asset that has no real world applicationI wouldn't call this a conspiracy theory. The dots are pretty easy to connect.
This paragraph from the below article is pretty damning.
SBF, you may recall, was one of the biggest donors to President Joe Biden, while his parents—both Stanford law professors—have ties to the party. His mother, Barbara Fried, leads a group called Mind the Gap that helps raise Silicon Valley cash for Democrats, while his father, Joseph Bankman, drafted tax legislation for the powerful Sen. Elizabeth Warren (D-Mass). It’s not a stretch to imagine SBF sought to exploit these political ties to his benefit.
The FTX debacle makes SEC Chair Gensler look bad—again
Gary Gensler missed the biggest crypto collapse to date. It’s a bad look for the SEC and by extension the Democrats.fortune.com
That NYTimes article was straight horeseshit. I've never seen such a puffpiece on a criminal. Dude stole 10B!
Here's the link again. https://archive.ph/mxOh5
sorry for the spammy looing URL, just stripping it of the paywall for those w/o NYT access.
Here's a good Twitter thread on all this
2nd pump up some dorky looking guy as a champion of the asset.
3rd blame the gov't when it all falls apart.
So the rich democrat family from Palo Alto who needs lenient crypto regulation from the party in power, donated to democrats? Can’t be…
Contagion.... BlockFi Appears to be next. I came REALLY close to pulling a loan on my BTC last year.
www.wsj.com
BlockFi Prepares for Potential Bankruptcy as Crypto Contagion Spreads
BlockFi, financially entangled with the now-bankrupt FTX, is planning to lay off workers and exploring a bankruptcy filing itself, people familiar say.
www.wsj.com
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