Because right now there is nothing more toxic than Binance and CZ for the crypto environment?
He is the one spreading all kinds of lies about competition, he is sabotaging other exchanges, he is sabotaging Bitcoin itself by overcharging every withdrawal, promoting his BNB version of Bitcoin, spamming the network, and many many others.


Or, he knows he has no coins in case a coin run happens on Binance also so he tries scaring customers from other exchanges to move coins to Binance so he has the liquidity to deal with a possible panic since behind the picture he paints in the media and on social networks he runs the same fractional reserve that brought others down.
There is a senate hearing incoming after more and more have started questioning exchanges, their balances and policies and I'm pretty sure the one panicking right now is not Armstrong but CZ.

What you're suggesting is illegal in any normal country on this planet and would mean jail time for the one doing so, this is not a game of starcraft this is playing with people's money!


The only thing this guy is avoiding is playing by the rules, I'm not going to start again with the things he lied about but here is one small list of what he lied about his own exchange and this is not even the worse he did.


Then how about you start with revealing stuff about Binance since you like what CZ is doing that much?
First, where is Binance's headquarters and where are their offices?


Biased much?


Because despite the whole decentralization, no key point, no leader narrative most people want a leading figure, they want somebody here to act like the face of the business, somebody to represent their investment, that's why they clap for Saylor or Bukele or CZ, the other reason being that they are heavily invested in some shitcoin or BNB, that they keep their assets or trade on Binance like our dear OP.
Most can't accept being alone, they can't accept the environment to be made just of them, they have to find a platform, a wallet, something that will act like their bank to ease the burden, to give them confidence that someone more qualified is taking care of their assets. And a lot fall for all this #SAFU nonsense, all their lies, all the hype.
Not too judgemental about CZ? F### him!
Everyone should be allowed to be as judgemental as it wants, especially with the events lately.

Oh god, we need an Agriculture board.

Title of the article and topic:

Tiny details in the topic:


So let's recap:
- School gets free land
- Local farmers work their asses on it for free, use their own machines with no charge, pay for gasoline and other out of their own pocket
- Students watch the tractors from the side

So, if the guy wouldn't have donated the land and just worked himself there with the other's help and would have just donated the revenue to the school it would have been the same, the school didn't do anything, the students didn't either, they didn't have the resources in the first place to.


And despite that, miraculously the US is the largest food exporter in the world.
So let me rephrase this for you so that it's far more accurate when typing on the internet everyone says how good agriculture is, how it must be encouraged, and so on and on, when it comes to actually quit your white-collar jobs and starting to live from it, crickets!


You paint a too bleak picture for it.
You decide what you want to grow, you take care of your land and harvest, you either ally with local farmers and build storage facilities or you decide to manage it on your own, then you look at local traders and major hubs that list the price according to quality you decide to which you want to sell. Second, compliance with pesticides, seeds, humidity, and protein, will always be on the farmer's side, nobody will buy from you without all these papers unless it plans to directly use it and doesn't care, no real shipping company, and no trader will accept it with no papers.

Second, nobody can sell at market price!
Because the market price is for future deliveries in the port of choice, if you have a future contract of $300/t for shipment in a port, with delivery for the other side of the continent that's all up to you, the buyer buys x tons shipped to Alger on xx/xxx/20xx from Rotterdam, all that transport cost will be yours to bare. Plus, when it comes to transport, there is no single farmer that is able to move all its grain to the nearest port alone, just no, if you have 10-20 ha, that's already 4 fully loaded 55cm trucks, nobody is going to wait for you to make 4 trips back and forth, take 4 samples, do the papers for each load, and so on.

I avoided those for a reason when mentioning them, most of these tokens work just like any other token, celsius coin, for example, was not a real Defi token, it was used mainly for rewards and benefits, attracting customers and making people take loans on it on the platform for better rates. In theory, assuming no problems with liquidity or irresponsible printing those tokens shouldn't be affected at all differently than shiba inu, but again it's theory.

The others, like Bybit or Yield App or Nexo are simple centralized platforms, they can go down tomorrow without a warning, just somebody flipping a switch and that's it and there is no list whatsoever on the hundreds of platforms that offer investment plans, not even counting the thousands of fraudulent ones.

Just as an example, on both lists they have wirex token listed as normal token for a centralized exchange, wirex itself is seen as a CEX, but they do offer (or did) some insane APY on lending and they also offer blowing plans.



Same with nexo, it's tagged "Services and Payments" not lending as the token itself doesn't do that but the platform is.
I'm fairly confident that the next one to crash won't be one with a smart contract lending pool but a CeFi exchange.
 

And solar panels are not made from materials that are mined just like coal, and they don't end up in huge waste dumps in Africa and India, and let's not even talk about the child labor involved in mining lithium in South America, without which most of home solar installations would be useless with no batteries. Also, you know that coal is used to refine silicon right? So no coke, more expensive solar panels!

And let's not forget that without good old coal and nuclear there won't be any light at night and nobody to give you electricity for you credits you gain during the day with the panels. There is no perfect source of energy, coal and gas pollute more, and solar is highly subsidized, and just like the wind you end up with tons of nonrecycled waste, hydro can't possibly give us all the energy we need, and nuclear, although my favorite won't be able to scale int he next half a century even if we want to build them.


From the political point of view this "ban" is indeed stupid, just like the ban in EU (not Europe) if it ever happens, common, next ban cocoa plantations in Norway, tariffs have already killed mining there, so what's left to ban?

Anyhow, I was trying to point out that just like Amazon buys tax credits and declares is not polluting right now with a million vans, just like Google does so and miraculously their data centers that run on a mix of energy become green with money so do some of the miners, greenwashing their business when they know it's not like that. I mean seriously, it's hilarious when the so-called Bitcoin Mining council was publishing all those percentages about how green they are, and the biggest backer behind them, MARA was quietly operating that coal powerplant in Montana

The whole thing is pointless from both sides, NY knows that it can't make all consumers turn to green energy as there isn't enough there so they hand-pick some to show they are doing stuff, miners claim the same stuff about being ecofriendly to get investors, knowing that not even 1% will go and try to find out details on how thing work if they were they wouldn't pour millions in business that are losing money as we speak and in reality nothing changes.

Define new, Digihost bought that gas plant at the end of the last year and it has barely come online for a few months after acquiring permits, TW Lake Mariner facility is not even completed and runs at 10% capacity.


A slight difference between applications and things that are currently running, and obviously, the ones running are the problem that caused this, not future plans.
Common, let's not start this all bitcoin mining energy used is green and has zero impact drama, you know just as well as me that it's nowhere near the real truth. Miners weren't flocking to Montana to admire the view and they are not mining with hydropower because it's good for the planet, they mine like that because it's good for their pockets and they will do so with whatever it's cheaper. Let's ask every miner here if he's willing to pay 3 extra cents for green energy or just 3 cents for coal, we all know the outcome.

This sounds weird, probably the right news is:
Pornhub is hiring Ron Jeremy and the crew behind Babysitters and Debbie Does Dallas to produce an 8-episode parody about SBF and FTX, Penthouse also tried to buy the rights but withdraw when realizing what actors it would need to hire to play the series.

They bought the rights before the investigation is over if the news breaks out about some more of FTX funds going into the wrong pockets they might have to drop the production altogether if there would be even more unfortunate events nobody will support making a movie about this guy. Plus there is the thing of the audience, who would pay to hear and watch a story about something you don't have a clue about like cypto, and which cypto lover is going to pay extra to watch the story on how his investments went south?
Plus, you have a lot of characters in that future movie who you're not sure won't end up in prison by next summer.


What a pile of garbage that is, it's become so cringy when they try to insert their quota of drama into everything it's just unwatchable.

Cough, cough...Greenidge
DigiHost gas powerplant in Buffalo?
TW's Lake Mariner hydro powerplant facility that somehow is just 91% renewable... 


Mining is not a fixed game where you need 100Exahashes and that's it, you obtain those with 10 times less power and you have reduced consumption.

The consumption is influenced by the revenue, if Bitcoin drops to $100 you will have miners earning $90 000 a day and they obviously won't be able to spend more than that on power. If it goes to $100k you have a revenue of $90 million a day so you could easily spend half of that on your power bill and still get a huge profit.
No matter how energy efficient those new ASICs will be, long term if the revenue per day for miners grows ten times so will their power consumption with just a few percentages off.

This is just wrong.
There are millions of investors out there who haven't touched bitcoin, there are hundreds of investment funds with millions or billions in assets who haven't done so either.
Just to get a picture of what a tiny percentage Bitcoin is, the total value of all the coins (including Satoshi's coins) is just 1/4 of the Pension Fund of Norway, right now by market cap Bitcoin would be the 25th of the publicly listed companies and let's not add real estate, art, or just jewelry which has an annual turnout of nearly the same size.

If we would be at the point where we couldn't do without BTC we wouldn't be at 16k and certainly not at 300k transactions a day with just 5k BTC in LN.
There is a very long way to go till that moment.

A ton of them, but only a few really big players on the CeFi loan and earn business.
There was holdnaut that went down, Ledn that said it had no exposure on FTX or others but has started cutting jobs and probably the biggest left is Nexo, also claiming no exposure and no loss, but we all know how to take these statements.
Nothing I can find on Yield App, but they were offering 7.5% annually on BTC now just down to 5%, and of course Bybit, which has done a weird thing about that proof of reserves lately showing what they have but not a word on the liabilities.

Of all of them I'm worried about nexo, I know a few who had funds there and a few users on this forum have played with it for a while, so I hope they got out with the recent events.

You can update the thing with the "source" it's official:
https://blockfi.com/November28-ClientUpdate
Interesting they chosen the same agent , Kroll,  as FTX:
https://restructuring.ra.kroll.com/blockfi/
https://restructuring.ra.kroll.com/blockfi/Home-DownloadPDF?id1=MTM1MjMyOQ==&id2=-1

And just three weeks ago they were promoting stuff like this:

Pretty sure every program they've launched was a desperate cash grab to keep the operations flowing, but their FTX exposure was just too great, I wonder what losses we're looking at again, they claim 200 million in cash and somewhere between 1 to 10 billion (quite the range)  in assets and liabilities so god knows how many times one is bigger than the other. Or better question, who's next as this shitshow doesn't seem to stop anytime soon!

Nothing is confirmed at all.

This graph is just showing the number of coins held by addresses that are confirmed or at least believed to be owned and in control of Coinbase.
With this comes two problems, we don't know for sure those wee Coinbase addresses, we don't know all the addresses owned by Coinbase and we don't know if they haven't just moved a few of their coins from the cold storage to Coinbase Custody, which is actually holding most of the coins owned by big investors who pay Coinbase to take care of their coins. What the graph shows is you taking $100 out of your wallet, the one observing this doesn't know for sure how much more you have just a quick peak, how much you have in your pockets and it also doesn't know if after pulling out that 100$ it didn't just go in your wife's wallet.

The other problem with this is that for years I've been hearing of people pulling and pulling coins from Coinbase so that graph continuously sowing only withdrawals and not going into a negative is another of those miraculous analyses only glassnode is capable of.


Works fine here, you tried this on a desktop or smartphone?

Well, my first prediction was bearish for the drop or bullish for the total hash rate, or whatever this is perceived so, me being completely wrong on this one would be good for miners.
And as it turns out, from the 7.5% pace is   89.3824% so it just needs another 4% push to enter my usual 200% prediction territory.


I wouldn't bet that much on the electricity increase, Europe and North East Asia which is the most affected had basically zero mining, Russia now has a ton of extra, and the US and Canada are not really that affected after a spike caused by panic and high demand during summer things are looking at around 1 cent per kWh increase in most areas where heavy mining is happening compared to 2021.
https://www.eia.gov/electricity/monthly/epm_table_grapher.php?t=epmt_5_6_a
In my opinion, their main problem would be paying for anything as most of them were running on credit, not income, 1 cent will be irrelevant when you don't have the other 4 in the first place, so we might see more bankruptcies because of the credit line rather than the small increase in costs. If they ae pushed out of the game by this a quick jump to 20k would solve their problems.


Hmm, nothing spectacular apart from unknown gaining 3%, nothing threatening Foundry yet.

The website has been transferred to their appointed claim agent,  it's old news and standard procedure as they have filled already for this in court long ago
https://twitter.com/FTX_Official/status/1593317347703590915
The same thing happened to MtGox but in that case, they kept the domain alive and put all the notices on the main page.

But I won't share the pessimism of everyone here, it's not really sure that everything is gone, people said that for MtGox also, and look how it turned out, there might be enough funds left to at least cover a few of the losses, probably nothing close to half of it but at least one quarter, maybe!

$740 million have been recovered, who knows how much there is still hidden in some wallets
https://fortune.com/2022/11/23/ftx-collapse-assets-customers-crypto-bitcoin-ethereum-solana-bitgo/

For Compute North their main problem was (from what I read) that the whole company was running on credit, they basically had nothing, $500m in debt and even selling all the facilities they're expected to raise less than 10% down from their previous claim of 100 million. Also, the whole thing is really messy, a lot of their business was actually hosting for others, like MARA, so if that miner goes into trouble because it was running on credit from Celsius for example, so do they. Half a billion company run with 100k in cash, nice chain of fails, right?

As far as I understand Foundry has bought just the location where they were already mining in partnership with Compute North:


Yeah, 25% in income per block and Bitcoin down to 10k because of the panic over fees and exchange run, a recap of the fork wars when the chain was last attacked, no thanks.
Speaking of panic, I feel tempted to short BTC at the moment of the diff adjustment, I can already see the panic titles, bitcoin hash rate drops by 10%, miners go bankrupt, POW is doomed, etc etc.
60 blocks behind, I'll bet on a 7.5% drop, let's see if I lost my skills or my quartz ball will still miss this by more than 7.5% altogether.

Yeah, in your world maybe, in reality, WTI is at $78 and Brent at $85, as usual!


It's 1.5% in the EU, but don't let details like numbers stand in your way.


"Biggest economist" ?



Don't you dare be optimistic about something, read the mood of the room, we're all doomed!
Actually, that rhymes!  

But it's indeed funny.
In the previous topic, I read everyone was looking at the new generation as people who can't overcome a challenge, who are dependent on their smartphones, the generation that will crumble under an ounce of stress, and look what we have here, almost everyone saying the world is done for, that nothing better will come, that we live in a matrix where we're just at the mercy of the ones controlling it and so on, I can't make head and tails of what's happening here.
On one side we promote independence how the new system will change things, and how problems will be fixed, on the other side, nothing you can do, just crawl under your bed and swipe for the bad news. If the economy recovers and we see inflation back to 1-2%, lower unemployment, and the war will be over I think we need to start having some counseling topics to prevent a few users to commit suicide as they will have a total breakdown seeing another apocalypse failing.

This protocol lacks a lot of details
- cooking time per block
- the size of the steak
- what kind of chain flavors or sauces it supports
- any decentralized grill you recommend
- how many of those did you age in secret before releasing it?

Btw, wasn't it supposed to be Pork of Steak? 

No idea what you're asking here, how many people does it take to keep the coins secure, or how many people are using Coinbase in order for it to have 2 million coins in reserves? But in any case, yeah there are enough!

Anyhow, it has been known for years Coinbase had at least 1 million coins in storage before the last bull run, so two million now with people fleeing from other exchanges might not be impossible. Also, those two million coins are not just coins on the exchange, some of them are from the Coinbase Custody program and that piece of the pie might be the bigger one, it's aimed at investors with big pockets that pay to keep their coins safe!

If I would have told you that SBF is not the JP Morgan he thinks he is, that behind the billions in FTX there are just a couple of millions, that their internal documents were stored on emails, that there is no accounting being done, that nobody knew who really worked there or not,  how would you have reacted when you saw FTX as the everything killer that might take over the world?

If the Madoff scheme was allowed to happen for years, if FTX managed to fool everyone, then what's so special about ARK that it can't be a failure too? Remember that ARK did all the past profits on booming markets, when the shit has finally hit the fan they are losing billions, just like cryptos, and if those can go bankrupt, what's stopping the same from happening here too?

Basically, the whole defense you put for AK is, no this can't be real, cause...I don't want to. 


Guess not:
https://www.nytimes.com/2022/11/22/business/dealbook/genesis-crypto-restructuring-adviser.html
Oh, and they need 2.8 billion just to cover debt at this point.

The gambling board is a spam fest but just look back at how you asked people for help with your problem:


Nearly anyone reading this would identify you losing your money while gambling as the problem that needs to be solved, not how to dodge the fees you're losing in transferring coins and how to avoid withdrawing fees. Common, that board has far more problems than one which could have been easily solved by asking directly the question, not going through really confusing details, you basically locked the topic with the message that would have been the first.