This might also be because Sam Bankman-Fried has become the next target after CZ because FTX has become so big and influential in the cryptospace and this influence is beginning to flow into traditional finance. It also does not help Sam that he has $22 billion under his control. The government might want much of this hehehehe.



The next Warren Buffett: Why the world is going crazy over the 30-year-old billionaire

How do you picture a multi-billionaire? They have luxury homes, cars, buildings, yachts, and several workers, Right? But Samuel Bankman-Fried breaks all those barriers and appears to be the world’s most humble billionaire who believes in donating all his wealth. He is the founder and CEO of FTX, the best cryptocurrency exchange ever built to trade in derivatives. At just the age of 30, Samuel Bankman-Fried has amassed over $22 billion, making him the youngest crypto billionaire in the world.

Source https://dazeinfo.com/2022/08/05/the-next-warren-buffett-why-the-world-is-going-crazy-over-the-30-year-old-billionaire/

I am not quite certain why Michael Saylor continues to buy bitcoin right before a dump begins. If bitcoin continues to dump he might become a forced seller and be forced to dump some of those coins to control his losses. I reckon an investor must sometimes reduce the size of the investment to keep much of it away from risk.



On September 20, 2022, MicroStrategy Incorporated (“MicroStrategy”) announced that, during the period between August 2, 2022 and September 19, 2022, MicroStrategy acquired approximately 301 bitcoins for approximately $6.0 million in cash, at an average price of approximately $19,851 per bitcoin, inclusive of fees and expenses. MicroStrategy purchased the bitcoins using excess cash. As of September 19, 2022, MicroStrategy, together with its subsidiaries, held an aggregate of approximately 130,000 bitcoins, which were acquired at an aggregate purchase price of approximately $3.98 billion and an average purchase price of approximately $30,639 per bitcoin, inclusive of fees and expenses.

Source https://www.microstrategy.com/content/dam/website-assets/collateral/financial-documents/financial-document-archive/form-8-k_9-20-2022.pdf

Tom Lee, Jim Cramer, other bullish influencers and recently Barry Silbert. We cannot be certain if these influencers are telling us the truth or if they are only manipulating their followers to buy and for them to dump. However, it might also be similar to Su Zhu of 3 Arrows where everyone thought he was manipulating everyone but the truth was he was very desperate because he had losing trades on leverage and he really wanted his followers to buy hehehehehehehee.



Fortune favors the brave

- Matt Damon

Source https://mobile.twitter.com/barrysilbert/status/1572742590369304578

News update on Tether.

It appears a judge has ordered Tether to prove the backing of USDT. I am not certain how they are going to prove this because as we have speculated before, Tether has fractionalized already. This might have begun during 2019 when Tether's market capitalization started increasing with a higher rate.



Despite entailing the title of the “world’s largest stablecoin” Tether [USDT] continues to drown in troubled waters. The network was slapped with a lawsuit for issuing USDT in order to pump the price of Bitcoin BTC. This market manipulation lawsuit has been going on for quite some time now and has taken another turn. This time, it wasn’t in favor of the stablecoin.

It was brought to light that a U.S. Judge in New York dismissed Tether’s motion that blocked the release of its financial records. Therefore, the network now has to produce an array of documents pertaining to the backing of USDT. This list includes, “general ledgers, balance sheets, income statements, cash-flow statements, and profit and loss statements.” In addition to this, the stablecoin firm has to present records of any transfers of crypto or other stablecoins. Minor details like the time of the transaction were also demanded.

Source https://watcher.guru/news/tether-legal-woes-prolong-financial-records-demanded

What is head shaking with this news development is FTX is an exchange that works very closely with regulators from different jurisdictions. It is what gives them their advantage against their competitors. This might be extortion. It would also not be shocking if crypto exchanges in the United Kingdom are classified more closer to gambling sites than brokerage firms.

What we have been speculating is beginning. A strictly regulated stablecoin market might give the regulators the power on how much goes in the cryptospace. If cashflow going in is short, there will not be enough liquidity, not enough expansion. It appears we also need to bring back the state of the cryptospace as it was before 2017 when much of the most lquid markets were traded and valued in bitcoin.



Draft legislation to create a U.S. federal framework around stablecoins would temporarily ban the types of payment coins that are not backed by outside assets — similar to TerraUSD, an algorithmic stablecoin that collapsed earlier this year.

 Nonbank issuers of stablecoins backed by fiat currency would also be overseen by state banking regulators and the Federal Reserve, according to a source familiar with discussions and draft text obtained by The Block.

Banks or credit unions could issue their own stablecoins, which would be overseen by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp., both of which serve as federal bank regulators in the United States.

Source https://www.theblock.co/post/171565/draft-stablecoin-bill-in-congress-to-require-fed-state-regulator-approval

Okay, thank you. I honestly have not explored the whole Yahoo fantasy app. I also should stop talking about my planned waiver pick ups next time until I have the player in my team hehehe. My next opponent for week 3 is a strong one with the new MVP Josh Allen, Kupp and Saquon. I will certainly need some luck from the waiver wire hehehehe.

I agree with this. We cannot be certain where he might be traded, however. Who would be willing to trade for an overhyped, unimpressive rookie and now a presently broken quarterback?

In any case, when do we know if the players we picked from the waiver wire are approved or disapproved? Does the commissioner have control on who gets the player if more than one fantasy player picked the same player?

@Daltonik. Agreed and it appears that Do Kwon is on the run according to South Korea's prosecutors. He will become the honorary third arrow in 3 Arrows Capital hehehe. The founders Su Zhu and Kyle Davies are also on the run hehehe.



South Korean prosecutors have refuted Do Kwon's claim from over the weekend that he is not on the run and asked Interpol to issue a red notice against the Terraform Labs' co-founder, escalating the public drama playing following the $40 billion wipeout on his cryptocurrency startup in May this year.

Source https://finance.yahoo.com/news/south-korean-prosecutors-kwon-obviously-081340428.html



This is Do Kwon's tweet before he accused of being on the run.



I am not “on the run” or anything similar - for any government agency that has shown interest to communicate, we are in full cooperation and we don’t have anything to hide

Source https://twitter.com/stablekwon/status/1571197156907679745

In addtion to my argument on mining cryptocoins illegally. This will only increase if cryptomining regulations everywhere begins to be strictly enforced. I also speculate that much of illegal cryptomining will occur in third world countries where it would be easier to tap electric lines and steal electricity.



Three crypto miner sites in Argentina were caught last week by the country's tax and customs policy agency, the Administración Federal de Ingresos Públicos (AFIP).

Upon investigation, authorities identified a taxpayer that had imported mining equipment using a company of which he was partner. That person initially told inspectors that he had sold equipment, but eventually showed them where the machines were operating.

Source https://www.theblock.co/post/169345/clandestine-crypto-miners-in-argentina-caught-by-authorities

Agreed and I have a similar attitude on this. It is a comedy show. However, the argument is Ethereum's transfer to proof of stake might be used as an attack against Bitcoin to create fud and pressure the government to create very strict regulations on mining which can also be used to attack any proof of work coin.

This is head shaking. If FTX, only one of the very few exchanges that is working closely with regulators is being targetted as providing services in the United Kingdom without authoritization, what does this imply with those other exchanges that avoid working with regulators?

Is this another government extortion scheme again? This would not be shocking hehehe.



The U.K. Financial Conduct Authority (FCA) published a warning on its website Friday regarding crypto exchange FTX. The regulator detailed:

We believe this firm may be providing financial services or products in the U.K. without our authorization.

The FCA explained that FTX is not authorized but is targeting investors in the U.K. Firms carrying out specific crypto asset activities in the U.K. must comply with the amended “Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations,” and register with the FCA.

Source https://news.bitcoin.com/uk-regulator-warns-crypto-exchange-ftx-is-providing-services-without-authorization/

I saw him being carried out on the cart, however, I did not know he will be out for the rest of this season. My apologies to 49ers fans for laughing.

I like Jimmy G. The 49ers are very lucky that they did not trade him or let him go as a free agent. What if the Seahawks got him. This recent game would have been an action, drama and comedy show hehehe.

What sports were you betting when those sportsbooks blocked you and when was this?

In any case, yes sportsbet.io is one of the biggest sportsbooks in the cryptospace that has made its brand known the market for mainstream sportsbettors. It might be a chance for Sportsbet to make the cryptospace more known to them through NFT promos hehe.

The best games in a live casino for me is roulette and baccarat. If you like slot machines, you should try roulette. If you like live card games, play baccarat. This is much less boring than blackjack, I reckon.

Hehe those are not brains, that might be a vein or an artery. If his brains were exposed during a fight, it would be stopped and the fighter would be taken quickly to the hospital.

I did not watch this event because I thought it would be quite boring hehe. I was waiting for Canelo vs. GGG 3, however, it appears in that picture that Canelo vs. GGG was the boring event hehehe.

It appears presently we have found out why San Francisco should always keep Jimmy Garoppolo hehehe. They should pay him more money. It was a mistake for Jimmy G to accept the pay reduction. Trey Lance might not be the franchise quarterback they want him to become. Justin Fields might have been the better pick for them.

In any case, @Southpark, it was a good weekend for the 2 of us. However, I was very lucky that Lamar had a very good game for fantasy hehe. Mike Evans would have destroyed my week 2.

@wheelz1200. The new head coach might be very good? I am presently looking at their team for some gems eheheh.

However, what if the dollar becomes stronger in demand while bitcoin dumps below $20k? DXY is an index of the dollar versus a basket of currencies. It has been going higher since more than 1 year.

Inflation has always been present, however, it is low inflation. Before 2022 inflation was lower than 3% in America and the effects of this was not a problem.

It is weak during recession and inflation, what is reality showing us? Also, if we do not know the amount of leverage that pumped bitcoin from $3k to $70k, we do not know what we are investing in.

@morvillz7z. What is the reference about the Chargers doctors? Hehehe, was it about puncturing the left lung of Tyrod Taylor?

Also, yes, a fracture anywhere essential to play is never good for the team. We have seen some players play with a toe injury, but somewhere around the rib area might need some rest from full contact and high impact.

Does anyone have betting suggestions for week 2? Thursday night football has not been very good hehehe.

What we have witnessed to be very funny is those maximalists who try to convince everyone that bitcoin is a hedge for inflation. However, it was certainly made clear to everyone that this time of high inflation, bitcoin performed unsuccessfully and only during the time of low inflation where it performed like an inflation hedge hehe.

I am afraid that this might only be the beginning. They might only be starting to create a storyline and use this to manipulate the public. Once manipulated into thinking with a storyline that proof of work is bad for the environment, they begin funding their lobbyists to call on lawmakers and politicians to create an argument and campaigns to regulate cryptocoin mining or ban it similar to China.

This is the article published in greenpeace.org's website.

https://www.greenpeace.org/usa/news/climate-groups-to-bitcoin-cut-the-pollution-and-the-b-s/

Also, if strict regulations everywhere have taken place in bitcoin and cryptocoin mining, I would argue that illegal cryptomining will be good for any proof of work coin's decentralization and also good for the security and authenticity of their blockchains. There should be a group of miners who mine outside of regulations, government control and do their jobs under a real type of decentralization. It would be head shaking to witness bitcoin become a decentralized coin under the control of a centralized government hehehehe.