I think there will be real difficulties in March for bitcoin. Past data has largely not supported bitcoin's strong upside move but there were exceptional years like March (2021) and March (2022) when bitcoin had an impressive green wick. so maybe bitcoin will hold this scenario. March 14 (US CPI announcement) and March 23 (Fed announced interest rate adjustment) are events that can be of great interest and are likely to affect the likely scenarios.
Many predict the Fed will raise interest rates by 0.5% instead of 0.25% as previously predicted because the recent indicators have not been as expected and showed that inflation is returning. But I believe interest rates won't affect bitcoin too much anymore, I remember the last Fed rate hike in 2002 also didn't cause bitcoin price movement. But this is not good for the global economy and will make it difficult for bitcoin to do well this year. I don't know if this news will affect bitcoin but I still believe bitcoin will hit $25k this month. I speculate that this Binance fud will be the cause of bitcoin's difficulty of pumping to more than $25k. It presently has the attention of American senators from both the Republican and the Democratic party. This might imply the summoning of Binance employees in America for questioning and there might be a crackdown on binance.us. There is also a rumor that the SEC has sent wells notices to many founders and development teams of altcoin and Defi projects. US Senators representing both Democrats and Republicans are demanding that Binance and Binance.US provide a detailed accounting of their finances and efforts to maintain regulatory compliance, according to a letter signed by Senators Elizabeth Warren, Chris Van Hollen and Roger Marshall.
The senators’ letter cited “investigations into criminal sanctions evasion, money laundering conspiracy, unlicensed money transmission, questions about its financial health, and increased scrutiny over its intentionally ‘opaque corporate structure.'"Source https://www.bloomberg.com/news/articles/2023-03-02/binance-accused-of-illegal-activity-by-us-senators-warren-van-hollen-marshall |
|
|
|
If the bullrun would have continued for another two years, who knows how many billions more they would have embezzled.
Yep. If there is any positive thing about all this mess, its that it happened sooner than later because God knows how many more people would lose their money as FTX kept growing due their aggressive marketing, no withdrawal fees and other tactics to attract as many users as possible.
In other news, FTX confirms for the first time that 8.9 billion dollars of users money is missing so if there's anyone still hoping that they will ever see their money back, think again. A recent report from the Wall Street Journal pointed out that $8.9 billion worth of customer funds have been unaccounted for and therefore missing.
This is the first time the exchange has revealed a number pertaining to the fund deficiency. The exchange has reportedly pinned down around $2.7 billion in customer assets, relative to $11.6 billion of the balance outstanding on customer accounts. The estimated value of FTX’s assets and liabilities is based on asset prices in November 2022, when the firm filed for bankruptcy.
Alameda Research had borrowed around $9.3 billion from customer accounts before bankruptcy. Thus, the current $8.9 billion hole can be attributed to Alameda Research. FTX did not clarify if the funds were borrowed with or without customer consent. According to a financial update filed, FTX’s sister company only had around $475 million in cash in its accounts as of Jan. 31.
Thus, at this stage, it cannot be anticipated how much compensation affected customers would receive, even though the exchange has tracked down $2.7 billion. However, around $1.5 billion of that said amount includes illiquid crypto assets like FTX’s token, FTT There might be other types scams that might have occured. They might also sometimes be done on their own services similar to this hedgefund.It is speculated that the founder of Multicoin capital has been selling his own cryptocoins and tokens to the hedgefund before the bubble pop of the bull market. Multicoin Capital’s hedge fund lost 91.4% in 2022, according to a copy of the firm’s annual investor letter viewed by CoinDesk.Source https://www.coindesk.com/business/2023/03/04/multicoin-capitals-hedge-fund-lost-914-last-year-investor-letter-reveals/ |
|
|
|
News update. There is nothing shocking about this news, however, it can add to the argument that it might be the next of th biggest exchanges to bite the dust. Binance might also be an entertaining example of what centralized exchanges presently need to do to continue their service under strict regulations and under threat of a crackdown hhehehe. Binance, one of the world's largest cryptocurrency exchanges, developed a plan to avoid the threat of prosecution by U.S. authorities as it started an American entity in 2019, the Wall Street Journal reported on Sunday.
Any lawsuit from U.S. regulators, who had signaled a coming crackdown on unregulated offshore crypto players, would be like "nuclear fall out" for Binance's business and its officers, the WSJ said, citing a Binance executive's warning to colleagues in a 2019 private chat.
The report is based on messages and documents from 2018 to 2020 reviewed by The Wall Street Journal as well as interviews with former employees.Source https://www.reuters.com/technology/binance-execs-texts-documents-show-plan-avoid-us-scrutiny-wsj-2023-03-05/ |
|
|
|
~snip~
I also remember the interview. If I remember it correctly, he also implied that Binance smartchain will very much be a big part of Binance's progression to become a more decentralized exchange where their jurisdiction might be will not be very important. I honestly found it interesting at first that a company operating all over the world doesn't have headquarters. They're like a digital nomad. When I first read about Binance's unique structure many years ago, around the time it started growing big, I was kind of amazed that even employees are like CIA operatives, working in the shadows, even anonymously. But then I realized later on that there are implications that make it actually risky for clients. I don't even care about tax responsibilities. I'm thinking of the company's accountability to its customers. I reckon we also have to consider that the interview was made before 2018. I am not certain on the correct year, however, the cryptospace community was very different before when everyone encouraged decentralization. Presently the community wants regulation and regulators to enter the cryptospace because we were tricked to think that it will be safer to invest. It might also be because we were tricked to think that our coins will pump. I shake my head on this because the regulators do not care for our safety or if our coins will pump. They only want to control everything. |
|
|
|
and that is usually the case with licensed online casinos. so that when you win big and want to withdraw all the winning funds, the platform has the right to request KYC from these customers as a condition that must be carried out to be able to withdraw these funds.
it's all because the casino platform is licensed and subject to regulations that have been in accordance with the agreement from the beginning with the licensing company.
so for me, if it's true that you get a big win and want to withdraw it but are asked to do KYC, I'll do that. because it is just one way to comply with the rules and to be able to withdraw large funds from our account.
If you win a large sum in an unlicensed casino, then no one will pay you anything. Sometimes it is easier for a casino to create a new website than to pay large winnings to players. I agree that it might be cheaper to create a new casino than to pay millions of dollars of winnings to a single bettor who has gotten lucky. However, licensed or unlicensed, it is not easier to convince people to deposit their money and play in your new casino. You need to prove that it is trustworthy, safe and honest. This is very hard and it might be easier to buy a licensed casino that is known already. |
|
|
|
|
I am voting for no for this month because there is a rumor that the SEC has sent wells notices on many projects' founders telling them that they will be charged for selling and distributing illegal securities. I am not certain what projects, however, according to Bankless podcasts much of the Defi projects founded under American jurisdiction might have received wells notices.
This rumor if it becomes news, this might cause a dump on the whole cryptospace including bitcoin. I am quite aware that bitcoin cannot be charged of anything but the actions of the SEC will create fear on markets of the cryptospace.
|
|
|
|
@AverageGlabella. I disagree on your assessment that Bones Jones did not train for this fight, however, I certainly agree that Cyril Gane is is very much underestimated for this fight. Jon Jones did not fight 3 years and he is returning on a new weight class vs. the best heavyweight UFC fighter? This might be uncle Dana's biggest error. Also, there 3 sexy fighting kittens. Where are their pictures hehehehee.    |
|
|
|
According to some people in social media, Barry Sibert's Digital Currency Group has $262 million in cash but they have a loan of $575 million that should be paid on May and a $1.1 billion loss through Genesis Global. The question everyone should want to ask but they might only be afraid is DGC presently insolvent? What will happen to Grayscale? The venture capital firm focused on cryptocurrencies – Digital Currency Group (DCG) – reportedly marked a loss of $1.1 billion last year.
Some of the primary reasons for the downfall were the collapse of the crypto market and the bankruptcy of its subsidiary – Genesis.Source https://cryptopotato.com/crypto-giant-dcg-revealed-a-loss-of-over-1-billion-in-2022-report/ |
|
|
|
|
@BlackBoss_? Agreed that it might not last long, however, these buying of accounts for scamming, for multiaccounting or moneylaundering appears to be very common. I speculate that much of these complaints from people who had their withdrawals blocked and was asked for KYC again but could not submit the proper identification are from people who are using someone else's identity.
|
|
|
|
Does the Falcons have the money to give Lamar a contract for 5 years that is fully guaranteed very much similar to Massage Watson's contract with the Browns?
Also, the article mentioned that it will also open a window for the superbowl for the Falcons if they can trade for Lamar? Is this real? I am shaking my head. The Dolphins might have a bigger window for the superbowl with Lamar, I reckon.
I am not so sure Lamar will be available as the Ravens can always put the exclusive franchise tag on him and if the negotiations fail he will still have to play for the Ravens, however if Lamar wants out he could follow the formula that Kirk Cousins used to get out from the Commanders and receive the tag on consecutive years and by the third year the tag becomes so expensive the Ravens will have to let him go and only receive compensatory picks instead of actually trading for him. This is the only way I see Lamar opening a SB window for any team other than the Ravens, because if a trade has to take place for him to play at any other team then not only they will have to pay the huge salary of Lamar, severely limiting the option of bringing free agents, but a trade for him at minimum will entail 3 first round picks and this will limit the amount of talent which can be brought on the draft too. I could see that happening too. The problem is that franchise tag is so front heavy. Who knows what happens but that's probably the best scenario for everyone. Let's not ignore Lamar does get hurt and laying pit a $300 contract for a guy who can easily miss a quarter or half the games would wreck your squad. That cap is tough and expensive quarterbacks tend to constrain teams to not being able to get people around them. I'd steer clear if I was atlanta to be honest. My next question is which team would be the most to give the risk to trade Lamar for the type of contract that he wants. A contract very much similar to Massage Watson. Also, which team has the money to give Lamar his contract? The teams where I want to see Lamar go and that might also have the money are Miami Dolphins and the Las Vegas Raiders. They also need a good quarterback. |
|
|
|
I suppose not much has changed after all these years. I remember years ago CZ was interviewed and he also said something like they're everywhere. In other words, they don't have a base or a headquarter. I suppose much of their employees are scattered across the world working on a remote basis. But I guess they have registered offices in different countries. Official and legal communications could use their addresses. Not to mention that other Binance entities have their own headquarters.
I also remember the interview. If I remember it correctly, he also implied that Binance smartchain will very much be a big part of Binance's progression to become a more decentralized exchange where their jurisdiction might be will not be very important. Regardless of what CZ says, it seems to me that the headquarters of the company is in the headquarters of CP China in the sense that the boss will run there if things go downhill. If you look at it from that perspective, then CZ runs a perfect global business, and its HQ can be wherever it comes to mind.
I very much agree. Similar to Justin Sun, the future king of the cryptospace, CZ also has very poweful backers from China. |
|
|
|
Even though most people can expect bitcoin price to increase during March, but please don't ignore this one. I read the news that The Block posted a while ago, and may soon change some perspective on the potential March price. Only I don't expect it to be FUD, but of course the market will be affected by it. Here's the news: Mt. Gox creditors may finally start seeing their bitcoins this monthMt. Gox creditors may start seeing their first bitcoin payments this month as the window for repayments is set to open.
Creditors are expected to receive early repayments from March 10 onward, while the deadline for such payments to be completed is September 30, according to a January statement. This is for the first tranche of repayments — including early lump sum payments and intermediate payments — with further amounts set to come later.
“Well, for myself, I had pretty much written off the Bitcoin I still had on Mt. Gox in 2014 as a loss, so philosophically anything I get back now is a bonus to cold store,” said Blockstream CEO Adam Back, who is a Mt. Gox creditor, via Telegram.
“It has stretched on for many more years than anyone expected, and so it will be welcome I am sure by any creditors to finally get paid,” he added. If the news is not FUD, the skeptical me is also thinking that because of the timing of MtGox repayments, there might be people who want the market to dump. This is also not the only bad timing. Ethereum's Shanghai update will be on March also. It would be head shaking if they will be scheduled only 1 week apart hehehe. Ether’s (ETH) price action is expected to be “cautious” until the Ethereum blockchain’s Shanghai upgrade, due later this month, as the market is concerned about a supply overhang, Bernstein said in a research report Wednesday.
The Shanghai fork will allow ether that has been staked and is now locked to be withdrawn for the first time.Source https://www.coindesk.com/markets/2023/03/01/ether-supply-impact-from-the-shanghai-upgrade-is-limited-bernstein/ |
|
|
|
Btw being winter aren't miners having a by product which is helping to keep their homes/houses warm so how is this a problem?? Besides, this is not a free service they are getting, they pay for this electricity.
I shake my head whenever I hear this type of argument from the community. This is not very much similar to a house heater that you can control which part if the house is heated and control the temperature with a switch. The heat also cannot be collected and directed to be used over a large scale to make it a serviceable solution. Also, I speculate that the power companies would like to take advantage of the demand, however, the regulators are the problem. This will only cause miners to mine illegally or make some under the table deals with lawless minded people from the power companies. |
|
|
|
and thats the silly stuff that needs correcting.. they are not wrote into satoshis. they are placed as dead weight data into the witness area which is separate to the value stuff. and when value is spent the next tx has no references in a spending tx that even references the dead weight data. when/if the silly ordinals go bad and/or casey changes his algo to change which output he deemed is owner. and people are left realising they overpaid for something they have no claim over.. they will say bitcoin cheated them I do not quite understand how trading NFTs will work in ordinals. How is trading possible in ordswap.io if there are no references to the artwork or the data? You appear to be telling everyone that people might lose their NFTs, however, trading has begun without complaints from the people. https://ordswap.io/In any case, there are many bitcoiners in social media that say NFTs in bitcoin are dead but it might only be the beginning, I reckon. We cannot be certain where this will stop. It can be argued that it might bring more adoption on bitcoin. |
|
|
|
Does the Falcons have the money to give Lamar a contract for 5 years that is fully guaranteed very much similar to Massage Watson's contract with the Browns? Also, the article mentioned that it will also open a window for the superbowl for the Falcons if they can trade for Lamar? Is this real? I am shaking my head. The Dolphins might have a bigger window for the superbowl with Lamar, I reckon. The Falcons would probably sell the farm for Lamar Jackson
While Falcons owner Arthur Blank has hyped up quarterback Desmond Ridder’s leadership abilities and liked his four-game sample, don’t kid yourself. If Jackson is available for trade, the Falcons will probably move heaven and Earth to make that happen. Blank has been a mostly reliable owner throughout his tenure (the Deshaun Watson saga notwithstanding), but he’s never gotten his team the Lombardi. Sure, they came close, but horseshoes and hand grenades, etc.
The prevailing wisdom around the situation is that the Falcons surely wouldn’t give up a mountain of draft picks and sacrifice the cap for even a player of Jackson’s talent given the recent issues.
But, c’mon, of course they would.
Jackson is quite literally everything a franchise like Atlanta covets: a marquee player at the game’s most important position who will open a Super Bowl window, sell a ridiculous amount of jerseys, fill the empty seats that have plagued Mercedes-Benz Stadium for years and get people actually talking about the Falcons again.Source https://www.thefalcoholic.com/2023/2/28/23613620/the-falcons-would-probably-sell-the-farm-for-lamar-jackson |
|
|
|
|
@Betwrong. Why are you not sharing this? We also like to win some cryptocoins like you hehehehe. From the odds you are showing everyone, did you place your bet before this thread was created? The odds for Everything Everywhere was 2.50 in coinplay.com and it was 3.50 in sportsbet.io when I created this thread.
I reckon the last chance of All Quiet is on March 7. If odds do not reduce to 5.00, I reckon Everything Everywhere is a certainty to win the award for the best movie and the Hollywood agenda is not antiwar hehe.
|
|
|
|
Agreed, however, this is not about the amount of liquidity of BUSD in the exchange. This is about the recognition of trust on BUSD. Coinbase made it appear to everyone in the cryptospace that BUSD is not trustworthy. Look at the market capitalization of BUSD. It is down $5 billion since announcement from Paxos. Tether is up $4 billion and USDC is up $1 billion hehehe. The whales from the cryptospace think Tether is the most trustworthy stablecoin? |
|
|
|
The next stage might be during the trial of Sam later this year where some witnesses will be put on the stand to speak about what CZ did on FTT without giving the whole information on why CZ liquidated their position on FTT.
Is CZ/Binance even required to disclose why they liquidated their FTT position? They're investors in the FTT token, and they have every right to sell it as long as it's already vested (which it already was) without the need to disclose the reason as Binance is a private company anyway. I was not implying that CZ would be called on the witness stand. I was speculating that it would be some FTX employees would be given time to speak during the trial as witnesses to tell the whole story. People in the cryptospace already know it was CZ that triggered the liquidity cascade on FTX's leveraged positions backed by FTT as collateral. However this might be big news for people from the mainstream. An occurence worthy for a movie about hustlers and scammers hehehehe. In any case, if CZ was called on the witness stand, I reckon he would be forced to tell the truth and nothing but the truth. I am not certain if he can hide behind nondisclosure agreements or invoke his right to privacy in court. |
|
|
|
Good news for NFT lovers, bad news for NFT haters. Yuga Labs, the creator of Bored Apes Yacht Club and who also owns the rights for other bluechip NFTs has launched Twelvefold NFT collection in the bitcoin blockchain. I am not quite certain when an exchange for NFTs similar to opensea.io will be created for bitcoin NFTs, however, I am quite certain Twelvefold will by very popular for the NFTspace. Yuga Labs, the creator of the Bored Ape Yacht Club, announced the release of a new bitcoin-based NFT collection called TwelveFold.
The collection will consist of 300 generative art pieces inscribed onto satoshis on the Bitcoin blockchain.
Inscriptions, also known as digital artifacts, are created when a file, such as an art image like those created for TwelveFold, is written (or inscribed into) units of Bitcoin called satoshis, the smallest individually identifiable units of Bitcoin.Source https://www.theblock.co/post/215504/yuga-labs-drops-bitcoin-based-nft-collection-twelvefold |
|
|
|
|
Show Posts
