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

‘Crypto is dead in America,’ says longtime bitcoin bull Chamath Palihapitiya​



"Tech investor Chamath Palihapitiya, who said two years ago that bitcoin has replaced gold and predicted the digital currency would climb to $200,000, has a much more cautious view on cryptocurrencies these days.

“Crypto is dead in America,” Palihapitiya said in the latest episode of the All-In podcast.

Palihapitiya blamed crypto’s demise largely on regulators, who have gotten much more aggressive in their pursuit of bad actors in the industry. Securities and Exchange Commission Chairman Gary Gensler has said crypto trading platforms should abide by strict U.S. securities laws."

www.cnbc.com

'Crypto is dead in America,' says longtime bitcoin bull Chamath Palihapitiya

Tech investor Chamath Palihapitiya, who previously claimed bitcoin has replaced gold and would eventually get to $200,000, now says "crypto is dead in America."
www.cnbc.com www.cnbc.com
 
ashokan said:

‘Crypto is dead in America,’ says longtime bitcoin bull Chamath Palihapitiya​



"Tech investor Chamath Palihapitiya, who said two years ago that bitcoin has replaced gold and predicted the digital currency would climb to $200,000, has a much more cautious view on cryptocurrencies these days.

“Crypto is dead in America,” Palihapitiya said in the latest episode of the All-In podcast.

Palihapitiya blamed crypto’s demise largely on regulators, who have gotten much more aggressive in their pursuit of bad actors in the industry. Securities and Exchange Commission Chairman Gary Gensler has said crypto trading platforms should abide by strict U.S. securities laws."

www.cnbc.com

'Crypto is dead in America,' says longtime bitcoin bull Chamath Palihapitiya

Tech investor Chamath Palihapitiya, who previously claimed bitcoin has replaced gold and would eventually get to $200,000, now says "crypto is dead in America."
www.cnbc.com www.cnbc.com
Click to expand...
The best part of what he said is how Coinbase has seemingly done everything right and can’t get licensed yet the company that seemingly did everything wrong (FTX) was the closest to obtain a US license.
 
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ashokan said:

‘Crypto is dead in America,’ says longtime bitcoin bull Chamath Palihapitiya​



"Tech investor Chamath Palihapitiya, who said two years ago that bitcoin has replaced gold and predicted the digital currency would climb to $200,000, has a much more cautious view on cryptocurrencies these days.

“Crypto is dead in America,” Palihapitiya said in the latest episode of the All-In podcast.

Palihapitiya blamed crypto’s demise largely on regulators, who have gotten much more aggressive in their pursuit of bad actors in the industry. Securities and Exchange Commission Chairman Gary Gensler has said crypto trading platforms should abide by strict U.S. securities laws."

www.cnbc.com

'Crypto is dead in America,' says longtime bitcoin bull Chamath Palihapitiya

Tech investor Chamath Palihapitiya, who previously claimed bitcoin has replaced gold and would eventually get to $200,000, now says "crypto is dead in America."
www.cnbc.com www.cnbc.com
Click to expand...
Shocker... a Drudge headline gets posted here.

Who cares what Chamath thinks? Dude is legit the king of rug pulls with his spacs. Here's the best videoI could find from an earlier episode of All In where he essentially talks about rug pulling Solana

 
bob-loblaw said:
Who cares what Chamath thinks? Dude is legit the king of rug pulls with his spacs.
Click to expand...
I’m surprised he was so bold given his previous prediction. I can’t stand the guy - lost me a bunch of money SOFI after he pumped and dumped it.
 
xWVU2010x said:
Lol they b-slapped them with what exactly? The company that is halfway out the door to Bermuda, and has a CEO who has already dumped his stock, pulled a cheap publicity stunt.
Click to expand...
Already dumped his stock? He sold $1.6 million and still owns $2.5 billion.

decrypt.co

Coinbase CEO Follows Through With Stock Sale, COIN Investors Unfazed - Decrypt

Coinbase CEO Brian Armstrong has sold a tiny sliver of the company stock he owns as part of his pledge to donate money to science.
decrypt.co decrypt.co
 
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Rutgers Chris said:
Already dumped his stock? He sold $1.6 million and still owns $2.5 billion.

decrypt.co

Coinbase CEO Follows Through With Stock Sale, COIN Investors Unfazed - Decrypt

Coinbase CEO Brian Armstrong has sold a tiny sliver of the company stock he owns as part of his pledge to donate money to science.
decrypt.co decrypt.co
Click to expand...

https://blockworks.co/news/coinbase-ceo-armstrong-stock-sales-life-extension

"Instead, insiders and other early investors provide all the liquidity for public trade. Coinbase insiders have sold more than $5.8 billion in company stock since the firm’s direct listing, $5 billion of which occurred on the first day of trade.

Armstrong took part in those first-day sales, offloading 749,999 shares for $291.8 million, garnering an average price of $389.10. Coinbase stock is down 85% since then, and Armstrong hadn’t sold any Coinbase stock until just after his pledge.

Only two Coinbase insiders have bought stock since it went public: Shopify CEO and Coinbase board member Tobias Lütke has acquired $10 million COIN, making regular weekly purchases of more than $350,000 since Aug. 2022. He’s up 7% on those trades ($745,600 in paper gains)."

Grifters and conmen.
 
xWVU2010x said:
https://blockworks.co/news/coinbase-ceo-armstrong-stock-sales-life-extension

"Instead, insiders and other early investors provide all the liquidity for public trade. Coinbase insiders have sold more than $5.8 billion in company stock since the firm’s direct listing, $5 billion of which occurred on the first day of trade.

Armstrong took part in those first-day sales, offloading 749,999 shares for $291.8 million, garnering an average price of $389.10. Coinbase stock is down 85% since then, and Armstrong hadn’t sold any Coinbase stock until just after his pledge.

Only two Coinbase insiders have bought stock since it went public: Shopify CEO and Coinbase board member Tobias Lütke has acquired $10 million COIN, making regular weekly purchases of more than $350,000 since Aug. 2022. He’s up 7% on those trades ($745,600 in paper gains)."

Grifters and conmen.
Click to expand...
My mistake, I assumed you were referring to his recent sales, not those from 2021.
 
xWVU2010x said:
What is the benefit to each party of paying that way? Also when under contract, what happens in the likely event BTC dramatically shifts in value during that period of time?
Click to expand...
If you are up on Bitcoin and holding $2 million worth, it would be a way to avoid paying taxes on it. Not sure there’s a benefit to the seller. Guessing you’d agree to a USD sale price so any change in value of the btc before closing would be irrelevant.
 
I got a major chuckle out of this.


Check out Eric's Twitter, he's been dropping some solid info on his Twitter. One quick thing that jumped out to me is Blackrock's record in getting ETF's approved s 575-1.
https://twitter.com/EricBalchunas

I've harped on this in the past but when an ETF gets approved, it's expected to eat half the demand of the incoming BTC that are mined after the next halving. That halving is expected to occur April of next year. Incoming supply will get cut from 6.25 to 3.125 BTC mined per new block.

Not to be an ass, but the time to sit on the sideline is very quickly fading.
 
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bob-loblaw said:
I got a major chuckle out of this.
View embedded media


Check out Eric's Twitter, he's been dropping some solid info on his Twitter. One quick thing that jumped out to me is Blackrock's record in getting ETF's approved s 575-1.
https://twitter.com/EricBalchunas

I've harped on this in the past but when an ETF gets approved, it's expected to eat half the demand of the incoming BTC that are mined after the next halving. That halving is expected to occur April of next year. Incoming supply will get cut from 6.25 to 3.125 BTC mined per new block.

Not to be an ass, but the time to sit on the sideline is very quickly fading.
Click to expand...
I bet Grayscale wins their court case. Approving a futures BTC ETF but not a spot BTC ETF is asinine and harmful to consumers. Sounds like the judges hearing the case knew this. I'm buying!
 
What do you guys think will happen in this XRP case?
It will supposedly will be settled soon - ive heard by the end of June.

Have read the judge could just kick it to a Jury trial - which ive read the SEC wants no part of a Jury...ive read the Judge could rule on part of the case and the other part she could say let a Jury decide - I think its Fair Notice from the government...could get kicked to a Jury .

To me the SEC/Gensler is just trying to muddy the waters in which he wants crypto companies guessing at the regulations - he is doing a good job at that.

Would just like to hear what you guys think about XRP - the case and future for XRP...ive heard everything from its a shit coin for the bankers to it will run the world...lol

Whatever is on your mind - no doubt whatever the ruling is will effect the future of crypto...

Regards
 
bob-loblaw said:
I got a major chuckle out of this.
View embedded media


Check out Eric's Twitter, he's been dropping some solid info on his Twitter. One quick thing that jumped out to me is Blackrock's record in getting ETF's approved s 575-1.
https://twitter.com/EricBalchunas

I've harped on this in the past but when an ETF gets approved, it's expected to eat half the demand of the incoming BTC that are mined after the next halving. That halving is expected to occur April of next year. Incoming supply will get cut from 6.25 to 3.125 BTC mined per new block.

Not to be an ass, but the time to sit on the sideline is very quickly fading.
Click to expand...
So that is two strong likely catalysts, and while the hype has worn off, and BTC is well off it's highs, the price has absolutely hung in there on the larger timeline.

I'll probably get back in via GBTC and try to take advantage of that discount. Do we expect that discount to narrow, or even close completely, once BTC get's the full green light?
 
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I see ATOM is currently paying over 16% if you stake your coin. I have a couple bucks just sitting in my coinbase account, I think I'll put that into ATOM and stake it.

I've already written this money off so whatever if it collapses further.
 
RU-05 said:
So that is two strong likely catalysts, and while the hype has worn off, and BTC is well off it's highs, the price has absolutely hung in there on the larger timeline.

I'll probably get back in via GBTC and try to take advantage of that discount. Do we expect that discount to narrow, or even close completely, once BTC get's the full green light?
Click to expand...
I believe the discount should be fully eliminated once GBTC is converted to an ETF. I don't remember the timing of the upcoming ruling, but the hearing definitely was favorable to Grayscale.
 
T2Kplus20 said:
I believe the discount should be fully eliminated once GBTC is converted to an ETF. I don't remember the timing of the upcoming ruling, but the hearing definitely was favorable to Grayscale.
Click to expand...
Should be, or will be by definition?

Currently at a 40% discount.
 
RU-05 said:
Should be, or will be by definition?

Currently at a 40% discount.
Click to expand...
Whatever is normal for an ETF - market price vs. NAV. Normally, this difference is very small. The fact that GBTC has over $10B in assets bodes well for a tight range.
@ScarletNut should be familiar with this as well. Love to hear his thoughts.
 
T2Kplus20 said:
Whatever is normal for an ETF - market price vs. NAV. Normally, this difference is very small. The fact that GBTC has over $10B in assets bodes well for a tight range.
@ScarletNut should be familiar with this as well. Love to hear his thoughts.
Click to expand...
I still own GBTC that I've bought since before I started buying the coins themselves on Coinbase. I traded it and made some nice profits but still own quite a bit at an average cost around 30. Once the ETF is approved, I will sell it, maybe immediately or possibly wait for the next halving in the spring of '24.
 
ScarletNut said:
I still own GBTC that I've bought since before I started buying the coins themselves on Coinbase. I traded it and made some nice profits but still own quite a bit at an average cost around 30. Once the ETF is approved, I will sell it, maybe immediately or possibly wait for the next halving in the spring of '24.
Click to expand...
So you expect the ETF to be approved by next spring?
 
ScarletNut said:
I can't predict the timing. If the halving occurs before the legal issues do and GBTC jumps, then I'll get out at that time.
Click to expand...
I'd think the jump to NAV would be worth waiting for, even if it's a couple years off, especially if BTC jumps in the mean time.
 
RU-05 said:
I'd think the jump to NAV would be worth waiting for, even if it's a couple years off, especially if BTC jumps in the mean time.
Click to expand...
It’s already been a couple years of dead money so no, I won’t hold it past next spring’s halving or legal resolution
 
BABYBULL24 said:
What do you guys think will happen in this XRP case?
It will supposedly will be settled soon - ive heard by the end of June.

Have read the judge could just kick it to a Jury trial - which ive read the SEC wants no part of a Jury...ive read the Judge could rule on part of the case and the other part she could say let a Jury decide - I think its Fair Notice from the government...could get kicked to a Jury .

To me the SEC/Gensler is just trying to muddy the waters in which he wants crypto companies guessing at the regulations - he is doing a good job at that.

Would just like to hear what you guys think about XRP - the case and future for XRP...ive heard everything from its a shit coin for the bankers to it will run the world...lol

Whatever is on your mind - no doubt whatever the ruling is will effect the future of crypto...

Regards
Click to expand...
XRP was my first foray into crypto 5 years ago. Their community is passionate, putting it mildly. They view it as the end all be all in banking, remittance and currency exchanges. They still speak like a big day of reckoning is coming, and XRP will be worth,... blah blah blah.

The utility of it is (was) pretty cool, but IMO it's time has passed and things like Fednow will simply relegate it into insignificance. I could be way off base here as I really havent followed along too much lately. I just dont see it getting the life it's loyalists so boldly proclaim


RU-05 said:
So you expect the ETF to be approved by next spring?
Click to expand...

I could see it happening sometime before the election next yr.
 
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