OT: Bitcoin, Altcoins, NFT's & All Things Crypto

[RUfromSoCal?]

Next shoe to drop?

Crypto Lender Genesis Is Preparing to File for Bankruptcy Within Days

Genesis has suffered steep losses from loans it extended to failed crypto firms Alameda Research and Three Arrows Capital.

www.wsj.com

yup.
"liquidity crisis"
code for..we took your money..and can't find more suckers to support the pyramid...

WinkleBoys should just cash-out what they have left and live on a beach in Thailand at this point.. they are the ultimate Mooshes

 

[T2Kplus20]

yup.
"liquidity crisis"
code for..we took your money..and can't find more suckers to support the pyramid...

WinkleBoys should just cash-out what they have left and live on a beach in Thailand at this point.. they are the ultimate Mooshes

+1
Bad actors are still going down. I hope this briefly pulls the market back down. Might be a good opportunity to start reestablishing BTC and ETH positions. Very slowly.

 

[RUfromSoCal?]

I may not understand Blockchain, but I understand people.

 

[T2Kplus20]

Genesis goes down, filed for bankruptcy today.

 

[RUAldo]

When all is said and done there better be some folks other than SBF wearing orange jumpsuits. If this BS goes on with the big players like FTX and Genesis can only imagine what’s transpired at the next levels down.

 

[Rutgers Chris]

If that was a major concern there wouldn’t be so many projects on that blockchain. Those crashes will be resolved.

The level of activity and bounce back post FTX have been amazing. They still aren’t out of the woods with whatever gets dumped out of the bankruptcy, but it looks promising for those dips to be quickly bought up.

They are headed back to top 3-5 mcap coin with this level of activity. Being able to buy more below $10 was likely a gift from Sam.

Solana could destroy Ethereum alternatives with its massive surge in activity on the SOL blockchain

Solana, an Ethereum alternative blockchain, has witnessed a spike in the daily active SOL accounts and transactions on its network. The altcoin is wor

www.fxstreet.com

 

[Rutgers Chris]

On the NFT front, I find this to be fascinating. PhotoFinish has been building their game for over a year. Sometime in the next few months it will go live for real money stakes, wagering etc. The horses in the race are individually owned and bred NFTs.

 

[RUfromSoCal?]

On the NFT front, I find this to be fascinating. PhotoFinish has been building their game for over a year. Sometime in the next few months it will go live for real money stakes, wagering etc. The horses in the race are individually owned and bred NFTs.

View embedded media

lolz....

I give your nft guys credit... you find new way to take people's money..........

this was a video game in the early 2000s....

 

[Rutgers Chris]

lolz....

I give your nft guys credit... you find new way to take people's money..........

this was a video game in the early 2000s....

View embedded media

Right a video game. The video I posted wasn't a video game, its people bringing their individual horses to race. So rather than 1-2 players playing a video game, this is 10-20 people entering into a virtual race. I'd say its a little different, wouldn't you?

 

[rurichdog]

Right a video game. The video I posted wasn't a video game, its people bringing their individual horses to race. So rather than 1-2 players playing a video game, this is 10-20 people entering into a virtual race. I'd say its a little different, wouldn't you?

MORPG vs PvP? That's the distinction we're going to draw here?

 

[Rutgers Chris]

MORPG vs PvP? That's the distinction we're going to draw here?

Partially, with the added distinction of buying, breeding, etc. And moreso the differing/creative usecase of an NFT rather than simply a jpeg, ponzi, etc. like most of them. Turning the nft linked below into a horse racing in races like the one I previously linked to me is pretty fascinating.

Magic Eden - NFT Marketplace

magiceden.io

 

[RUfromSoCal?]

Right a video game. The video I posted wasn't a video game, its people bringing their individual horses to race. So rather than 1-2 players playing a video game, this is 10-20 people entering into a virtual race. I'd say its a little different, wouldn't you?

It's exactly the same...
just bigger suckers this time around... and I'm impressed.

 

[Rutgers Chris]

It's exactly the same...
just bigger suckers this time around... and I'm impressed.

View embedded media

Its really not. That is a video game, you're paying Sega, they're taking your money and not getting any back. Win a PhotoFinish race and you win actual money. This is a great thread to learn new things with an open mind, you should try it sometime.

 

[RUfromSoCal?]

Its really not. That is a video game, you're paying Sega, they're taking your money and not getting any back. Win a PhotoFinish race and you win actual money. This is a great thread to learn new things with an open mind, you should try it sometime.

there was lots of money flying around on DOC...

sorry you don't like me pointing out that NFTs are interesting - but not unique. blockchain is not magic.

 

[Rutgers Chris]

there was lots of money flying around on DOC...

sorry you don't like me pointing out that NFTs are interesting - but not unique. blockchain is not magic.

I said I found it fascinating. You say you find it interesting. Glad we agree 🤝

 

[xWVU2010x]

On the NFT front, I find this to be fascinating. PhotoFinish has been building their game for over a year. Sometime in the next few months it will go live for real money stakes, wagering etc. The horses in the race are individually owned and bred NFTs.

View embedded media

That’s actually really neat

 

[T2Kplus20]

BTC and ETH continue to pump as the Genesis story gets worse:

Ex-Genesis execs claimed they raised millions for crypto hedge fund just as former company neared bankruptcy

A former Genesis employee sent a message to a prospective investor in December, pitching a new crypto hedge fund.

www.cnbc.com

 

[Rutgers Chris]

BTC and ETH continue to pump as the Genesis story gets worse:

Ex-Genesis execs claimed they raised millions for crypto hedge fund just as former company neared bankruptcy

A former Genesis employee sent a message to a prospective investor in December, pitching a new crypto hedge fund.

www.cnbc.com

Sometimes there is an unstoppable force in the investing world that can overcome any sized macro event, technical analysis or any other negative factors. That force thankfully was unleashed on crypto yesterday…

 

[T2Kplus20]

Cardano partially crashed last night. What's up with all these unstable ethereum alts?

 

[RU-05]

Partially, with the added distinction of buying, breeding, etc. And moreso the differing/creative usecase of an NFT rather than simply a jpeg, ponzi, etc. like most of them. Turning the nft linked below into a horse racing in races like the one I previously linked to me is pretty fascinating.

Magic Eden - NFT Marketplace

magiceden.io

Breed nft horses?

Train and feed em too I imagine?

 

[Rutgers Chris]

Breed nft horses?

Train and feed em too I imagine?

No, just breeding different skill sets essentially. No feeding or training

 

[RU-05]

No, just breeding different skill sets essentially. No feeding or training

What does that entail?

 

[T2Kplus20]

What does that entail?

Breeding NFT horses? Sounds like the old Facebook farm. :)

 

[lakejj]

Breeding NFT horses? Sounds like the old Facebook farm. :)

Wait till A.I. gets involved

 

[T2Kplus20]

Wait till A.I. gets involved

Very good point. AI is starting to go Skynet.

 

[Rutgers Chris]

What does that entail?

This does a way better job of explaining it than I can…

Photo Finish Live – Third Time Games

thirdtimegames.com

 

[RU-05]

This does a way better job of explaining it than I can…

Photo Finish Live – Third Time Games

thirdtimegames.com

To the discussion above I do think this is essentially a video game, but at a much more immersive level.

And given how big video games already are, I wouldn't take that as an insult.

 

[bob-loblaw]

Gradually, then suddenly. This is very big news

 

[Rutgers Chris]

Another interesting use of blockchain:

California announces DMV-run blockchain through partnership with Tezos | Fortune

The agency will digitize car titles for California drivers.

fortune.com

 

[T2Kplus20]

Another interesting use of blockchain:

California announces DMV-run blockchain through partnership with Tezos | Fortune

The agency will digitize car titles for California drivers.

fortune.com

Still waiting for sport teams and musicians to use blockchain for tickets, so they can capture a portion of the resells.

 

[Rutgers Chris]

Still waiting for sport teams and musicians to use blockchain for tickets, so they can capture a portion of the resells.

It’s very big with music festivals, a lot of them are selling NFT’s that give you tickets, pre-sales, vip experiences, etc. Agree that sports are probably not far behind

 

[bob-loblaw]

For those claiming SBF/FTX donated evenly to both parties

Unusual Political Trading

Track unusual house, senate, SCOTUS investing, and corporate lobbying for free using unusualwhales.com, as well as deep dive in the most unusual of trading + political deals. The go to place to see everything in finance, politics, investing, and options.

unusualwhales.com

 

[T2Kplus20]

For those claiming SBF/FTX donated evenly to both parties

Unusual Political Trading

Track unusual house, senate, SCOTUS investing, and corporate lobbying for free using unusualwhales.com, as well as deep dive in the most unusual of trading + political deals. The go to place to see everything in finance, politics, investing, and options.

unusualwhales.com

Sounds like Binance is still having issues:

Crypto exchange Binance will suspend U.S. dollar transfers

Binance said it would suspend U.S. dollar withdrawals and deposits beginning Feb. 8.

www.cnbc.com

 

[RU in IM]

Sounds like Binance is still having issues:

Crypto exchange Binance will suspend U.S. dollar transfers

Binance said it would suspend U.S. dollar withdrawals and deposits beginning Feb. 8.

www.cnbc.com

Suspending without providing a reason is very strange.

Bob, do you have any idea what is going on?

 

[T2Kplus20]

Suspending without providing a reason is very strange.

Bob, do you have any idea what is going on?

Binance going bankrupt would be the last shoe to drop and very good for the long-term health of the crypto market. Can't trust CZ.

 

[ashokan]

"The walls are closing in around crypto. Regulators hadn’t taken action against many of the industry’s biggest players, but are now cutting off access to products and services central to the digital-currency business.

On Monday, New York regulators shut down new issuance of the world’s third-largest stablecoin, BUSD, prompting investors to flee the coin and raising worries about the future of crypto exchange giant Binance, which gives the coin the “B” in its name.

Binance’s partner in issuing the coin, Paxos Trust Co., is facing a potential Securities and Exchange Commission lawsuit. A few days earlier, the SEC fined the parent of another big crypto exchange, Kraken, and forced it to stop offering a popular type of crypto-yield product to U.S. investors. Banking regulators are quietly pushing banks to cut ties with crypto customers, limiting their ability to plug into the real-world financial system"

Crypto Investors Brace for More Crackdowns From Regulators

Officials have cut off access to products and services that are vital to the digital-currency business, while banking regulators are pushing lenders to cut ties with crypto customers, limiting their ability to plug into the financial system.

www.wsj.com

Regulator Orders Crypto Firm Paxos to Stop Issuing Binance Stablecoin

Paxos Trust will stop issuing one of the largest dollar-pegged cryptocurrencies, as a government clampdown on the sector widens.

www.wsj.com

 

[T2Kplus20]

Crypto is pumping today! Any reasons? :)

 

[Rutgers Chris]

Crypto is pumping today! Any reasons? :)

Seems to be moving again in conjunction with high growth stocks

 

[bob-loblaw]

Suspending without providing a reason is very strange.

Bob, do you have any idea what is going on?

Operation choke point 2.0. Essentially cutting off on/off ramps from traditional banking to crypto exchanges. Its been escalating the last few weeks

 

[xWVU2010x]

Crypto is pumping today! Any reasons? :)

BUSD being sold for BTC