BITCOIN

[KilledbyKenne]

Do you pay cash for everything?

I actually do pay cash for everything I buy locally...except when I pump gas. I swipe a cc for that.

Also, multi quote fail.

 

[Stanley]

So it's like having a Sam's or Costco card or signing in to Amazon?

 

[olympic]

Linus Tech tips went to one of these stores up is Seattle like 4 years ago, so they've been around for a while.

 

[98 svt]

So you guys with large sums of BTC and/or ETH, are you still holding?

 

[MG0h3]

Maybe you guys aren't aware but I am describing the current test models being ran by amazon/whole foods.

You scan to enter, take what you need and leave, no cashiers, no theft.
It's literally going to be the future model.

Like it or not the choice has been made.

Works just fine without shitcoin though doesn’t it?


Sent from my iPhone using the svtperformance.com mobile app

 

[q6543]

So you guys with large sums of BTC and/or ETH, are you still holding?

Yes I just keep buying every week, I will say I think this establishes bitcoin and ethereum as the dominant chains for now.
I do own some polka dot still.

I wouldn't call it a large sum though... under 100k

 

[Adower]

I saw something where Justin Bieber bought one of those nfts for 1.3m
And it’s worth only 30k now. Lol

 

[Weather Man]

Yes I just keep buying every week, I will say I think this establishes bitcoin and ethereum as the dominant chains for now.
I do own some polka dot still.

I wouldn't call it a large sum though... under 100k

As I have been following crypto, the large finance companies have been taking the best of the tech and developing their own blockchain. They are not using BTC or any of the others. Hate to see you ride it down. I think at some point, one of these whales is gonna come to the conclusion that being the first guy to liquidate is the best plan. That is going to be a really ugly day. The guy that sued and won to get his 50 billion in BTC back comes to mind.

 

[Klaus]

Next.

‘Grayscale Discount’ Widens to Record 43% as FTX Contagion Spreads

The added pressure comes after Genesis Global Capital – a corporate sibling to bitcoin trust manager Grayscale Investments – halted customer withdrawals from its lending unit this week.

www.coindesk.com

 

[jvandy50]

To add to that, not a good look



Sent from my iPhone using Tapatalk

 

[Weather Man]

To add to that, not a good look



Sent from my iPhone using Tapatalk

If you have funds there and don't pull, you get what's coming to you. Danger Will Robinson!

 

[Weather Man]

With increased downward pressure in cryptos, liquidity on centralized exchanges appeared to have also taken a nosedive. For example, "liquidity on Gemini remains very poor since the FTX/Alameda collapse," Kaiko Director of Research Clara Medalie wrote in a Twitter post. "Average spreads for its #BTC-USD pair increased from 2bps to more than 6."

"There was a sharp drop in liquidity on most cryptocurrency exchanges in the aftermath of FTX and Alameda's collapse," Medalie told Seeking Alpha. Alameda Research, Sam Bankman-Fried's trading firm that played a key role in the demise of his crypto empire, "was a big market maker for crypto assets, and a lot of other market makers got funds trapped on FTX, so there has been a visible impact on overall liquidity."

 

[Weather Man]

Two Estonians charged over allegedly running $575M crypto fraud​

Now!

Two Estonian citizens have been accused of being involved in what federal prosecutors in Washington state described as a $575M cryptocurrency fraud and money laundering scheme, according to a release by the U.S. Department of Justice on Monday.
Sergei Potapenko and Ivan Turogin, both of whom were 37-year-old residents of Tallinn, Estonia, allegedly defrauded hundreds of thousands of victims through a series of crypto-related schemes.
The indictment indicated that Potapenko and Turogin allegedly laundered proceeds of their schemes through shell companies and used investor funds to purchase luxury cars and real estate in Estonia. They also "induced victims to enter into fraudulent equipment rental contracts with the defendants’ cryptocurrency mining service called HashFlare," the prosecutors said.
Specifically, HashFlare, started in May 2015, was portrayed as a huge crypto mining business, offering contracts to let customers rent a percentage of the company's mining operations in exchange for the virtual currency mined by their portion of the operation. Between 2015 and 2019, prosecutors said customers from across the globe entered into over $550M worth of HashFlare contracts
HashFlare, however, was accused of mining less than 1% of all the computing power sold to its customers, according to the indictment, which was returned by a grand jury on October 27 and unsealed Monday. And when investors asked to withdraw their mining proceeds, Potapenko and Turogi resisted making the payments, or paid off the investors using crypto from the open market instead of tokens that were apparently mined at the company.
The charges brought against Potapenko and Turogi included conspiracy to commit wire fraud, 16 counts of wire fraud, and one count of conspiracy to commit money laundering, the indictment said. If they're found guilt, they each face a maximum penalty of 20 years in prison.
The news highlighted how law enforcement has become more focused on cracking down on illicit crypto activity in an effort to safeguard consumers. Earlier this month, for instance, the Justice Department seized billions in crypto from the Silk Road scammer.

 

[Silverstrike]

Two Estonians charged over allegedly running $575M crypto fraud​

Now!

Two Estonian citizens have been accused of being involved in what federal prosecutors in Washington state described as a $575M cryptocurrency fraud and money laundering scheme, according to a release by the U.S. Department of Justice on Monday.
Sergei Potapenko and Ivan Turogin, both of whom were 37-year-old residents of Tallinn, Estonia, allegedly defrauded hundreds of thousands of victims through a series of crypto-related schemes.
The indictment indicated that Potapenko and Turogin allegedly laundered proceeds of their schemes through shell companies and used investor funds to purchase luxury cars and real estate in Estonia. They also "induced victims to enter into fraudulent equipment rental contracts with the defendants’ cryptocurrency mining service called HashFlare," the prosecutors said.
Specifically, HashFlare, started in May 2015, was portrayed as a huge crypto mining business, offering contracts to let customers rent a percentage of the company's mining operations in exchange for the virtual currency mined by their portion of the operation. Between 2015 and 2019, prosecutors said customers from across the globe entered into over $550M worth of HashFlare contracts
HashFlare, however, was accused of mining less than 1% of all the computing power sold to its customers, according to the indictment, which was returned by a grand jury on October 27 and unsealed Monday. And when investors asked to withdraw their mining proceeds, Potapenko and Turogi resisted making the payments, or paid off the investors using crypto from the open market instead of tokens that were apparently mined at the company.
The charges brought against Potapenko and Turogi included conspiracy to commit wire fraud, 16 counts of wire fraud, and one count of conspiracy to commit money laundering, the indictment said. If they're found guilt, they each face a maximum penalty of 20 years in prison.
The news highlighted how law enforcement has become more focused on cracking down on illicit crypto activity in an effort to safeguard consumers. Earlier this month, for instance, the Justice Department seized billions in crypto from the Silk Road scammer.

And here I thought lottery tickets was the new fools gold. How I was so wrong.

 

[Klaus]

Another

 

[Klaus]

Genesis Timeline
November 8: "No material net credit exposure"
November 9: We lost $7M
November 10: Okay, we have $175M locked in FTX
November 16: Sorry, no withdrawals or new loans
November 17: Okay, we need $1BN
November 21: We'll go bankrupt without the money

 

[Weather Man]

I'm trying to find a reason that would drive BTC higher, not finding a single driver higher. All the best aspects of the tech are simply being coopted by whoever needs it. Now approaching unprofitable price for production.

 

[jvandy50]

I'm trying to find a reason that would drive BTC higher, not finding a single driver higher. All the best aspects of the tech are simply being coopted by whoever needs it. Now approaching unprofitable price for production.

I am watching my short position like a hawk because it seems a lot of people are offsides, and the whole “buy when others are fearful” theory…but i can’t either.

the risk/reward with multiple exchanges going under just cannot make sense in anyone’s head…there’s no way.

 

[Klaus]

I'm trying to find a reason that would drive BTC higher, not finding a single driver higher. All the best aspects of the tech are simply being coopted by whoever needs it. Now approaching unprofitable price for production.

Jim Cramer recommends selling which means that it guaranteed to go straight up from here.

 

[jvandy50]

^^^and there it is, the reason to buy lol

full port @Weather Man !