He is the president of the country and he does not buy Bitcoin with his own money, and the loss you are talking about is not his personal loss, but the loss of all the people who fill the budget of that country. It's easy to be a true believer if you're gambling with other people's money, right?
Everyone ignores this, he is not playing with his money, he is using government funds without asking anyone else, is not asking the citizens of Salvador, he is doing everything in their name with their money. But of course, everything is good here because it fits the narrative, if he would do the other thing, like selling the coins one at a day, despite being entitled to do so because it's their coins you will hear everyone bashing him like there is no tomorrow. This is fine, just like SBF giving a ton of money which was obviously not his left and right, and getting cheered about his generosity was a smart move accepted by the community. And now if we would go one step further and ask our dear Bukele about some proof of funds just as we ask exchanges, again, crickets! Let's wait and see if Christmas will come before another hero gets caught in another web of lies, let's see who that is. |
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Back to the serious part of this, did anyone really ever believe those 8%+ returns or were people thinking that I'll get out before it implodes and takes everyone else money with it, but I'll get our on time?
Doesn't that sound like being the first client of a Ponzi scheme? Be the first guy that gets that big APY before the company runs out of money since obviously, their whole business model is rotten to the core and nothing like what they are advertising? I think that people seriously believed that all that return is simply coming from the profit those platforms make when they lend the money. Few of my friends that had money in Celsius answered me that when i asked how the hell are they making those returns. They really thought of those platforms as banks.
Same here, on paper everything was fine, you lend people money with higher interest than what you give to deposits, and you ask for a 150% -200% collateral for which you have enough liquidity in the markets to not have a problem if a dump happens. But, turned out to be a completely different story and I stopped quite a while ago talking with my friends about crypto when they ask something about investments, I don't know a thing, I didn't hear a thing, I can't say a thing! I never gave advice, I don't plan on doing it! Another one bites the dust.
Isn't this a bigger deal though? As far as I know Genesis is sort of "partnered" with a good number of significantly-sized crypto platforms.
Let's wait and see where it goes. If it goes all the way up to the parent company Grayscale, then it's going to be a worse shitshow than FTX. https://twitter.com/Grayscale/status/1592882143906111488I did hear this kind of statement from quite a few bankrupt companies, but we might have reached the milestone where we finally have one saying the truth. |
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Trust CZ, he ain’t SBF!
Next time add a little "/s" in small font or white color so people get it. It was sarcasm, right? Right? While CZ seems to be more trustworthy than SBF(obviously due to recent events concerning FTX/Alameda), I wouldn't blindly listen to him.
Nikkei writes an article about Binance being forced to shut down in Japan, CZ threatens to sue while on a plane fleeing Japan saying everything is fine and they will obtain all licenses. CZ claims Binance is based in Malta, is registered and fully regulated, turns out it's not, CZ says Binance is global and doesn't need any kind of paperwork. CZ claims Binance is establishing a foothold in the US while it's a Delaware incorporated LLC with a virtual office and a trading license for a completely different company, not even a subsidiary. CZ claimed it followed all the rules in the UK, turns out it didn't follow any of them and is not permitted to undertake any regulated activity in the UK We should trust this guy? Because he posts #SAFU twice a week on Twitter? |
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~
I didn't give it a second thought. My cat ends up on my keyboard too now and then. If you see it jumping the fence with a USB drive in its mouth then trust me, your keys are gone!  There would be a lecture about different stimulants and he let his employees choose which one they like.
Oh god, when you said stimulants I thought we were talking about paychecks, he would give them bonuses and let them invest to asses their abilities, not this stimulus. There are others who also say that Sam is in a romantic relationship with Caroline Ellison the cofounder and CEO of Alameda Research.
Ok, I'm not going to judge everything about a person, if they are into this, they are, that's their business and their choice but that's for your personal life, when you combine those two and this kind of thing happens: According to a bombshell report by CoinDesk, Ms Ellison and Mr Bankman-Fried were part of a “cabal of roommates” who ran the crypto empire and “dated” each other, while living in a $US40 million penthouse in the Bahamas’ exclusive Albany resort.
Also living in the house were FTX co-founder and chief technology officer Gary Wang and director of engineering Nishad Singh. “All 10 are, or used to be, paired up in romantic relationships with each other,” CoinDesk reported. this is beyond anything I've heard lately. I'm the first one to call bs when one employee starts throwing sexual harassment lawsuits because a male employee looked at her in a way she didn't like, but this is going the other way beyond any limit. So these guys were doing trading and loaning, founding and funding companies while gangbanging and smoking mushrooms. |
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It will take a lot of time for miners to congest all these waiting transactions and additional ones in future. It will force others have to join the fee race if they can not wait.
Fortunately, there will be no real race here like in other times of congestion. The actual capacity of the blockchain right now is over the daily transactions input, unlike the last event where we had more transactions each day and older ones despite paying higher than the averge at that time would be pushed at the bottom. Right now you just have to outbid Binance 13.5/sat and you will get a confirmation just as you would with 1 sat last week, some will panic and pay more but there are not enough of them to outbid you and leave you outside the blocks for more than a few hours.  You just have to pay 14sat instead of 1sat/b, 50 cents is not the end of the world if you're in a hurry. |
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Let's suppose your boss called you into his/her office and explained the company's situation. He/she then gives you the option of getting laid off or taking a 50% pay cut. If you were to choose one of these options, what would it be and why?
That would be an impossible case in the above-mentioned situation. Amazon, for example, is planning on cutting full departments and postponing developments in a lot of their programs so for them that project is losing money, paying somebody even half or even doing it for free and it's still a failure.Another thing to note here is that Amazon is firing 10 000 workers after it hied 55 000 last year and it's not planning to stop hiring in its warehouses for the holidays still looking at 150 000. So the thing is not that the company can't afford to pay you, your job and what you were doing there is no longer needed as it's a money pit! As for the question, it all depends on what's the amount and what can you do with half of it. Am I making 30k a month I'm down at 15k but my job is as easy as it can be, I will take it! I'm making 3k a month and I'm supposed to live on 1500 while McDoandls is paying 2500, you can guess the answer. Replacing human labour with robots is not however a total profit for the employer. Somehow the robots get to be maintained and I believe the cost of maintenance of the robots has to be taken cognizance of like wear and tears. Some part of the robots can totally be removed and replaced with a new one and that is also running cost. It is not a total win using robot.
Tell that to foxconn https://www.scmp.com/news/china/economy/article/1949918/rise-robots-60000-workers-culled-just-one-factory-chinasApart from the initial cost, there is little to no drawback right now against a human worker, the only real advantage longterm a human has is that it can be trained easily to do a different job for the same company while a welding robot can't be sent to packing for example. This is like self-checkouts, everyone hates them but everyone rushes to them when they see what line is at the cashier lines. |
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If you want comedy, but really bad comedy, cringe stuff, just look at SBF tweets: https://mobile.twitter.com/SBF_FTX/status/1591989554881658880 Yeah, he did a tweet with each letter of what h a p p e n e d! I just wonder, the people that worked with him day and night as he had 20 roomies in his 40 million Bahamas home, or the ones observing all this, they didn't realize the guy is nuts? When I see now how he is acting he seems like a child in kindergarten that thinks his pet giraffe has died and one bar of chocolate baked in his Barbie even will make it come to life! Just look at the plan: 15) A few weeks ago, FTX was handling ~$10b/day of volume and billions of transfers.
But there was too much leverage--more than I realized. A run on the bank and market crash exhausted liquidity.
So what can I try to do? Raise liquidity, make customers whole, and restart.
So he will raise 8 billion from investor money and pay back the defrauded customers, doesn't he realize what he is actually proposing? He is asking for investors' money to patch a Ponzi scheme? |
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And secondly, the news about FTX is not new anymore, as its equally been 5days now since it went viral, leading to the major cause for the recent fall in the price of Bitcoin to $16,000
Doesn't matter! This is about a different exchange, in this case, Digital Surge that is in trouble because of FTX. Even if it will be 3 months since the crash of FTX if an exchange goes down because of them it's still news! Interesting that while the customers have been announced there is no social media post from the owners of the exchange at all right now and the announcement is in the client area. Due to the impact of FTX Australia's administration, we are not able to operate business as usual and have suspended all deposits and withdrawals until further notice, More like because of this: The Australian Securities and Investments Commission on Wednesday said it had suspended the licence of FTX Australia until May 15 next year after it was placed into voluntary administration on Friday. |
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not a perfect answer but regulated means they are safer then any other exchange
best regulated exchanges are:
~snip
Can we stop recommending people any kind of exchange? I've gone through this topic and I saw the name of FTX four times as recommended exchange, making it the top of the safest ones out of the myriad of scams and it turned out to be a ...total scam! How would you feel if one of those you listed fill for bankruptcy the same as FTX with zero coins in the wallet and OP comes here and tells how he lost his life savings? Let's just stop assuming one is better than the other and focus on cold storage be your own bank, that's the principle of cryptos, if you want to use coins use your own wallet, if you don't care about coins and you just want to trade just trade on a platform where there are not even coins and you trade indices. |
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The way those pages load up are kinda strange, I fear they may be accessing something from Binance actually, but I don't have the tools to check that.
I know why I make screenshots and save them, seems like also the archive.is sucks at loading pages. No header but the columns are easy to guess, so at least in April, the fees were the same! ~ can't wait to see a similar move from the two big "spammers", Coinbase and Binance, but in the latter's case I doubt they will do such a thing, they are using the fees as a motivation to have people use their shitty coin.  Seems that neither the fees nor the other thing in that post did change. |
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You do have a point, but they could:
* do much fewer batches of consolidation if they want to // no need to do all in one day
* do partial consolidations together with the actual user withdrawals (that would be imho a smarter implementation).
Playing devil's advocate (with a disclaimer that I know my client is worse than satan  ) - we don't know how many coins they have that they can't actually spend, and we don't know if they are not scraping every satoshi at this point - maybe the wallets are under different supervision? Actually, this does make a lot of sense to me as I would want to limit the access of every single individual. Yeah, it's a stretch but this is the best I can come up with. * what if, while we were cheering this year for how much bitcoin has left the exchanges in 2022, this was more due stealing/working on fractional reserve than user withdrawals? (I know, this may be a bit paranoid though).
Highly possible! I've said like ten times this week, all these companies have costs to run, if there is no money flow they will need to either take loans or find "investors", when these options run out, you touch the honeypot and you promise yourself you will cover the losses tomorrow, then next month and so on. To be honest, this is so messed up I don't know what will be good or bad for the ecosystem right now, I'm wondering if those morons have played with a fractional reserve, and they don't have our coins if a bulls run starts, we hit 100k and everyone rushes to sell and take the profit, will the inflow be able to cover the losses or they won't be able to buy back the coins and honor the deposit, triggering a drop worse than ever? |
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You're a pessimist, you're also not unique or special.
I never said I'm special or unique, thank you for letting me know that, as for the pessimistic thing, what is pessimistic about inflation going down, recession not happening and people not losing their job or dying of hunger? Sorry to bring it to you but if that makes me a pessimist it makes somebody else a psychopath! After all if there is no panic nobody watches the news. And then they can't sell advertising.
-Dave
Exactly! Thousands of breaking news when lumber prices went through the roof, hundreds of interviews of people who can't afford to build their houses, crying, screaming, now that lumber prices are at 432 compared to 439 in 2017 5 years ago nobody is doing any report on it? You will see hundreds filming a mob battling for toilet paper but nobody on the second day showing there is enough toilet paper to wipe our asses till 2030 in the deposits! I simply don't get these people that need to live in this constant fear that everything will collapse, I'm starting to think there are a ton out there who really want this, they just want to see everything destroyed because of whatever personal failures they've had in their own lives. No asset class likes inflation.
Nobody likes inflation, not when we talk about anything up that a full point, nobody would give a damn if real inflation would be under 1%, it would mean that prices would go up by 50%-75 in your whole lifetime. I never said and I don't believe either that bitcoin won't be able to protect your wealth when we go on long-term timespans, but I still believe from a personal point of view each individual would be far more pleased with tiny inflation knowing in case something bad happens he has his coins rather than experiencing constant hyperinflation and with everyone around him dirt poor so there is little left to buy with your expensive coins. |
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Spamming mempool now means more panic to the average Joe in these days he's overly panicked. Does he want to make people change their minds about withdrawing from exchanges? Or does he try to cover some exchanges that can now claim withdrawing issues? I don't know.
As much as I dislike CZ and Binance, spamming is not really the word here. I said it when the FTX drama was going down, with everyone rushing to get their $10 or even $5 out of that exchange you're going to have a delay, and if the same happens now at Binance they have no choice as to start consolidating all the deposits of everyone to either pay up or use the satoshis deposited. Looking at this kind of tx: https://mempool.space/tx/0672e85e5f95fe7ad3bc3c23d39c1c0d499d00e00be6015fbb1def102446bc4dImagine you have $1k in 200 inputs, and this is one for hundreds of deposits, if they are running low on coins they must do this, there is no other way. If they touch the cold wallet there is panic! If they touch the reserve deposit there is panic! If they consolidate the wallets there is panic! If withdrawals are delayed for more than a day, there is panic! Besides, isn't this what we're preaching for, for everyone rushing to get their coins out? And if he really wanted to panic the markets he would have put something double, what's an extra 20 BTC for him, especially since his own pool will be mining one-seventh of it? |
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First of all, what is the basis of a country is in a recession?
The experts said that if a country has a negative GDPs for 2 straight quarters, then it's officially in a recession. US already had a negative GDP on both the first and the second quarter which means that they are technically in a recession. On the other hand, their president Joe Biden said that they are nowhere near the recession.
The data for Q3 has been already out for months Real gross domestic product (GDP) increased at an annual rate of 2.6 percent in the third quarter of 2022 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. https://www.bea.gov/news/2022/gross-domestic-product-third-quarter-2022-advance-estimateCommon, it's November why do we still talk about Q2? With this growth, the whole technical recession drama has been postponed for the next year! High inflation and rising unemployment both attest to the economic hardships ahead, but the economy is at greater risk.
What high unemployment when both largest economies post record levels of employment? https://ec.europa.eu/eurostat/web/products-eurostat-news/-/ddn-20220928-2https://www.ft.com/content/1f3a7a41-daa8-49c5-ab51-3c0822421e40 |
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I believe that it is advisable for Republicans not to quarrel, but to nominate a single presidential candidate from their party.
And Elon Musk could be such a candidate.
Musk was born in South Africa, his father was South African, and his mother was Canadian. He can't be president! You have to be born in the US or like McCain or Tulsi Gabbard be the son of two us citizens. |
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There is Hope at the End of the Tunnel. Don't Give Up. The saying is actually : There is light at the end of the tunnel Another thing is that many add, just pray the light it's not a train! It's quite funny how the forum suddenly has turned into some kind of meeting for every spiritual and motivational coach and speaker is trying to boost the crowd's morale scared that if the crowd leaves he is out of business. This is the first time this year when really in terms of morale it's at an all-time low, and the avalanche of those topics where you try to keep it up it's just pointing out the obvious, fear has gained a foothold and it's here to stay. Crashes or simply this bear market is always been part of this crypto space or simply with the market.We cant really just expect to have a single path to take which is upwards.The key point on here is that, on the time
Yeah yeah, If anybody would have posted back in July that FTX will go bankrupt he would have been labeled as a fudder or fuddist, whatever the term is, when the thing actually happens, no it's nothing, we're used to this, it's normal everyone saw it coming. |
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I know ASICS are not generating as much heat, but GPUs are running quite hot.... when you have a bunch of them.
This is impossible and it goes against the laws of thermodynamics. A 300W GPU will produce the same heat as a 300W ASIC. That electricity you feed both of them has to either go somewhere or transform into a different form of energy, in this case, heat. Asics and GPU are not different from each other when it comes to the principle of working, both have chips, both have transistors, and both have electricity running through them. So, 4 Gpus rated 250W running at full throttle will create as much heat as 1 1KW Asic, and just as much as 1KW heater, with a tiny fraction of those in under the 1% going to be other kinds of energy, like light for example, as light bulbs did. As a competitive gamer [somewhat] and a former miner, I do know for a fact that "sometimes" my GPU produces more heat in comparison with what I was getting back in the day for mining... It's also worth noting that I was using MSI Afterburner to slightly underclock my GPUs for the latter [I'm doing exactly the opposite of it for gaming (to get the most out of it)].
They produced less heat because you underlock them so they would also draw in less energy. You can do the same for Asics, they all have this feature, but if you do in order to limit consumption you will also limit the heat released by the same percentage. There is no way you can have two GPUs with different power consumption produce the same heat or the other way around, one producing more heat but with the same power draw. |
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He said I had to make an offer on a specific advertisment by an user and that I had to copy paste a name and a number given by him, that this person was his friend and he will inmediately know what to do, I did as he said.
They have a chat box. Did he ask to send those info in the chatbox. ~ I don't understand this part. You said he deposited the money to your number/bank whatever which means you owe the crypto to him. Then why would you even need the customer support? Honestly, from your writing it is difficult to understand how the chronology of this scam was carried out.
He got scammed in a pretty lame way, so here is the TLDR 1. The scammer got his mobile phone number 2. Scammer called and he offered him a very good deal with a trader, telling him that in order to get that deal he must tell he was referred by him by copy-pasting his name and a number in chat 3. OP entered the chatbox, and copy-pasted not only the referral name but also the scammer's bank account 4. The scammer sent the money to that bank account which was obviously his and took the coins too OP can't do anything because he entered in the chat the scammer's payment details instead of his own, so Binance can't do a thing. Imagine that everyone would claim tomorrow that the own payment details he entered in chat are not his own.. 3. So I make a trade with him
4. I received a sms message saying that I got the local money already (I didn't check my wallet, that's my fault)
Sorry for the loss but didn't you find it weird, as I assume you had multiple transactions that there was a different number and no sense id? Of course, I might be wrong but here all the banks have a sender ID and you can't buy any name resembling a bank from any SMS provider. |
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I don't know on which basis you are saying it as fake P2P trading. I have done many transactions. And also called to the buyer or seller many time.
I found my own language person in call which live in different city.
Also found the local bank accounts and telecommunication numbers.
Simple: P2P trading on Binance - you go to Binance and select a trader - you select the offer you send money via your bank - you get your coins Centralized trading on Binance - you go to Binance and look at the markets - you select the price you want to buy, and you deposit money via the bank - you get your coins In which case did you get rid of both the centralized platform and the third-party payment gateway? |
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The drop is still not here, the diff is just swinging because we have quite some messed up block times going up and down 9.7, 10.7, 8.6, 11.3 but overall nothing that would indicate something major switching off, probably will only do it at the end of the period, if at all. Profitability is down the drain following the price, I'm looking at some graphs and I see barely 5 cents per th, and then there is bitmain selling you some gear that will ROI in 3 years with free electricity. This will be one hell of a purge, I just hope that mining companies going down won't have the same effect as the failure of the other and won't push prices down even more, even if it's temporary. I'm looking at some press releases https://www.prnewswire.com/news-releases/hut-8-reports-operating-and-financial-results-for-q3-2022-301674163.htmlhttps://www.globenewswire.com/news-release/2022/11/08/2551429/0/en/Marathon-Digital-Holdings-Reports-Third-Quarter-2022-Results.htmlLove the optimism and I wonder what backs it as those numbers sure don't, also, quite an interesting view on 2023 from one of them:  Just for future reference: Latest Block: 763187 (9 minutes ago)
Current Pace: 100.6235% (1140 / 1132.94 expected, 7.06 ahead)
Previous Difficulty: 36835682546787.98
Current Difficulty: 36762198818467.21 |
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