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641  Economy / Economics / Re: Benefit from Higher Education? on: March 06, 2023, 12:57:59 PM
Higher education can certainly provide useful knowledge and skills for entrepreneurship, but it is not the only path to success. While academic coursework may not directly translate into practical experience, it can provide a solid foundation in business concepts, management principles, and industry-specific knowledge that can be applied in the real world.

That’s correct word here. The practical approach is way important than just bookish knowledge. Doing a business was very easy in previous century. At that time you only needed proper knowledge and funding and there was major difference that made it easy to do the business and that’s: “zero competition”.  Now things are worst for businessman. You can gain all kinds of expertise from the books. The competitor for every kind of business is at its peak and you need huge courage to have one. Books can tell you skeleton and some tricks but practical approach can teach you “what is really selling in the market”.

Moreover, to make it even corrected statement, it’s not the higher education but it’s right course or modules that can take us on the successful entrepreneurship path. Not every educational background can get us there. This is era with competition you need to be prepared all 360 degrees.
642  Bitcoin / Bitcoin Discussion / Re: Do you accept ? on: March 05, 2023, 05:47:37 PM
Quote
Bitcoin is decentralized, altcoins are not decentralized.

What could be the best security than having all the funds distributed over a network through millions of blocks? SEC should understand that bitcoin is having more security than the fiat and Altcoins itself. In fact there is no guarantee that whether a government issued bond would be worth anything in the future considering the way world is moving into dark hole of inflation and crisis.

What could stay valuable in such crisis? Something that has power of people, guessing that we have distributed ledger of bitcoin.

Could take little time to process all this but I think it is what it is.
643  Economy / Economics / Re: Iceland is ‘Europe’s last Bitcoin mining refuge,’ but concerns emerge on: March 03, 2023, 06:23:30 PM
I am not certain about if bitcoin's dive below 20K can trigger the global control over reducing the environmental issues but I am damn sure if they continue to see Iceland as one of the potential bitcoin hub then they are going to disturb the mother nature at its best. The problem starts when human's start colonizing a place or corner of the land and start doing their chores. We are greedy. They will build mega structures of geothermal plants, mining farms, more people residing nearby in the want of having hob opportunities etc. This can trigger the nature in negative way because what Iceland has currently is due to it's less population and geo location. Soon if it gets populated all of sudden then it may impact the nearby nature, change the environmental conditions, glaciers, sea life anything can start disturbing with this. I am not sure if I have thought this correctly but on logical node, this seems to be future to me.
644  Other / Archival / Re: [ANN] [banned mixer] | Best Bitcoin Mixer | Low fees | Fully automated on: March 03, 2023, 04:50:43 PM
Good to see YoMix has DDoS protection enabled. Everytime I enter to the site it's doing it's job so we all know we are protected.

So it's understandable that site gonna have downtime now and then considering our safety and more important our funds!

By the I am still wondering why would I want to Delay my order and how does it affect the mixing process? I got the hint about Service fees, the more it is the more stricter mixing would be.

However, what does Time Delay contribute into this? Does increasing the time would get me far more mixed / fresh coins and is it vice versa if I just want my order quickly executed. What is coding strategy behind this one!



FYI: The UI is very easy and friendly. Specially for the people who wants to use mixers all the time. It's quick, and very handy. Smiley
645  Economy / Trading Discussion / Binance Exchanger - U.S. Senators sends letter to showcase proper Finance on: March 03, 2023, 04:29:02 PM
Quote
Binance and its related entities have purposefully evaded regulators, moved assets to criminals and sanctions evaders, and hidden basic financial information from its customers and the public.

It all started with this statement from the U.S. Senator Elizabeth Warren (D-MA), Chris Van Hollen (D-MD), and Roger Marshall (R-KS). They have very high doubt that Binance is one of the exchanger associated with malpractices and is funding the accounts of Criminals as well as those who fled the sanctions imposed by U.S. on them

This is definitely one of the serious allegations on the world's most popular Crypto Exchanger. It is likely that it can cause negative impact on the crypto industry if this news came to be true and if Binance found guilty then it could damage the crypto space heavily.

To prove these allegations U.S. senator has sent a letter to Binance CEO Changpeng Zhao (CZ) and BAM Trading Services CEO Brian Shroder.

They have asked for all balance sheets starting from year 2017 until now so that it can be audited and checked for any doubtful practices that are underway. The implications gonna be worst if this is proven.

Quote
U.S. Senators Elizabeth Warren (D-MA), Chris Van Hollen (D-MD), and Roger Marshall (R-KS) sent a letter to Binance and Binance US on Wednesday, calling for the crypto exchanges to “provide transparency about potentially illegal business practices.”

The letter, addressed to Binance CEO Changpeng Zhao (CZ) and BAM Trading Services CEO Brian Shroder, asks for documents and answers concerning each crypto exchange’s “finances, risk management, and regulatory compliance as it faces investigations into potential crimes,” the senators detailed. Binance and its U.S. affiliate, Binance US, are two separate entities. BAM Trading Services is doing business as Binance US.

“Your actions have called into question the legitimacy of your business and the safety of your customers’ assets and raised concerns about the potential impact of these activities on the stability of the crypto market and the broader financial system,” the senators stressed.

The letter also notes that Binance hired French auditing firm Mazars to perform a proof-of-reserves (POR) audit on its bitcoin holdings. However, the auditing firm subsequently “deleted the webpage containing the report” and paused its activity relating to proof-of-reserves audits for crypto firms, the letter adds.

The senators concluded their letter by requesting “documents and answers” pertaining to a list of questions no later than March 16. The documents requested by the lawmakers include “complete copies of all Binance and Binance subsidiary balance sheets from 2017 to the present,” and their internal anti-money laundering (AML), countering the financing of terrorism (CFT), and know-your-customer (KYC) policies and procedures.

A copy of the senators’ letter was sent to Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC); Rostin Behnam, chairman of the Commodity Futures Trading Commission (CFTC); and Merrick B. Garland, U.S. Attorney General with the Department of Justice (DOJ).

US Senators Probe Crypto Exchange Binance About 'Potentially Illegal Business Practices'
646  Economy / Trading Discussion / Re: From this you can be accurate 85% of the time on: March 03, 2023, 03:53:31 PM
There are several ways to calculate it, but the most famous of them is a five-point system, and therefore you need data for the high and low session with two support levels and their grooves for resistance, and therefore it is true that the different sizes will lead to breaking it, but it is difficult for the price to break a support or resistance level in the short term.

Therefore, it is a way to predict the price space, such as saying that the price is between 15K to 28k, which is true now and for a long time, but it is not a method for those who want to trade in the short term.

I trade on 15 min timeframe
will not work with that. see this

Read more https://www.babypips.com/learn/forex/playing-the-breaks-with-pivot-points

It always amuses me how you guys decide what data points to extract from the chart which will forecast the next move for you? I mean I get that in the above comment you have mentioned, you are using 15 minutes of data set but it is valid for how long? Will it change the course of next trend after 15 minutes and will it be able to forecast anything beyond let’s say 1 or 2 hours, thats the question for me all the time.

Though I do not want to get much into trading session I would always throw my dices on the project news, some past quick look ups for the trend and would decide based on that.

It does not work all the time for me and that’s the reason im mostly on hodling pattern. Safest bet for a guy like me in the crypto space. Smiley
647  Economy / Economics / Silvergate Bank share drops 50%, Major Crypto Clients Stops ACH operations on: March 03, 2023, 03:04:48 PM
Silvergate Bank was one of the most crypto friendly bank and had major clients such as Coinbase, Circle, Paxos, Crypto.com, Bitstamp, Cboe Digital Markets, Galaxy and Gemini.

In the recent update, the banks share dropped by 50%, which was due to unclean books and suspicious activities in the banking itself. With ever increasing Federal Bank Loans, Silvergate is further in trouble of filing the taxes this financial year.

It has applied for late 10-K filing because they need time to go through the books and seek help through auditors to resolve the issues. It's no wonder, that above mentioned clients are already fleeing the bank and halting their Automated Clearing House operations.

This further shock to the Silveragte Bank and could aggravate the financial losses further to have bankruptcy.

Imagine this story getting wrong title as, "Major Crypto players left the Silveragte Bank, files the bankruptcy". Could be negative impact on the crypto sphere.

Quote
The vast majority of crypto-friendly Silvergate Bank's (SI) industry clients have left or are leaving the company less than a day after it announced it would have to review its books with its auditors and warned of several headwinds. The bank's share price has fallen by more than 50%, to an all-time low, on the day's trading.
Silvergate announced Wednesday it would delay filing its annual 10-K filing due to needing to answer requests from its independent auditors and accounting firm, as well as "regulatory and other inquiries and investigations that are pending." The bank warned in a forward-looking statement that it faced possible inquires from bank regulators and the U.S. Department of Justice, and its ability to "continue as a going concern" over the next year may be affected.
On Thursday, Coinbase, Circle, Paxos, Crypto.com, Bitstamp, Cboe Digital Markets, Galaxy Digital and Gemini all announced they would suspend Automated Clearing House (ACH) transfers and other business operations with the bank, days after crypto derivatives provider LedgerX announced the same. Kraken appears to be the only major crypto exchange to continue using Silvergate, having ended some transactions with rival bank Signature (SBNY) on Wednesday.

Silvergate Bank also said in its filing Wednesday that it would have to repay Federal Home Loan Bank loans that it took out last year.
"Subsequent to December 31, 2022, a number of circumstances have occurred which will negatively impact the timing and the unaudited results previously reported in the Earnings Release, including the sale of additional investment securities beyond what was previously anticipated and disclosed in the Earnings Release primarily to repay in full the Company’s outstanding advances from the Federal Home Loan Bank of San Francisco," the filing said.
Crypto news outlet Protos reported in January that both Silvergate and Signature were tapping FHLB loans, receiving up to $15 billion combined.

Silvergate Stock Drops Over 50% as Crypto Clients Flee Beleaguered Bank
648  Bitcoin / Bitcoin Discussion / Bitcoin and Avalanche Bridging - good or bad for bitcoin ? on: March 03, 2023, 01:58:25 PM
In the recent news article that I came across, one of the analyst have released information regarding BTC transfers worth $44 million to the Avalanche. The number of bitcoins that were transferred was 2000 BTC on Thursday. Basically, we now have bridging technology which can help us move the coins from one main net to the other one. Like irrespective of what chain we have initially and which one is the receiving one.

That itself is surprising stuff to read for me, I am not sure how many of the forum members are involved with this but yeah it's something unique.

Now, there is another platform which transferred half of the mined bitcoins over to BENQUI Finance which is again another Avalanche based decentralized finance platform allowing users to lend, borrow etc.

 BTC.b [bitcoin bridge] was implemented so that Bitcoin's can be transferred to the cross chain platforms of Avalanche as a result we are already seeing the effect these days.

Is it safeguarding bitcoin's in the hands of decentralized platform ? & does it mean it's time to go hand in hand whether it's bitcoin and other side of crypto merger?

Quote
Interest in bridging bitcoin (BTC) to the Avalanche smart contract blockchain (BTC.b) continues to swell as the supply of wrapped bitcoin (wBTC), the largest wrapped version of bitcoin on Ethereum, dwindles.
On Thursday, over 2,000 BTC ($44 million) was ported to Avalanche, the largest single-day BTC.b mint on record, according to data sourced from pseudonymous analyst 0xAcid's dashboard on Dune Analytics. That has lifted the total circulating supply of BTC.b to 8,572.
According to 0xAcid, half of the bitcoin minted on Thursday has been moved to BENQI Finance. BENQI Finance is an Avalanche-based decentralized finance protocol, which allows users to lend, borrow and earn additional yields from digital assets.

In June 2022, Avalanche added support for bitcoin on its cross-chain bridge, allowing BTC holders to deploy their coins in the Avalanche-based decentralized finance (DeFi) ecosystem to generate extra yield. BTC.b has seen impressive growth since then, surpassing the number of coins held in the Lightning Network.
A crypto bridge is a tool that facilitates interactions between the two economically and technologically separate blockchains. Bridges became a target of hackers last year, accounting for about 70% of the total exploits in the crypto industry last year, according to forensics firm Chainalysis.

The record BTC.b mint comes as the WBTC supply fell by 15% to 153,164 in February, reaching the lowest since March 2021. Apparently, bankrupt crypto lender Celsius, a well-known WBTC holder, redeemed a large amount of WBTC, causing a sharp drop in the token's supply.
WBTC, issued by Bitgo, is an ERC-20 token based on the Ethereum network with its price pegged 1: with bitcoin. The token's supply peaked at 285,000 in April last year and has been falling ever since.
The Avalanche community considers BTC.b a better option than WBTC, considering Avalanche offers users the ability to mint and redeem BTC.b anytime with the bridge in a non-custodial browser extension Core, eliminating the need for intermediaries. It provides more control to users, unlike WBTC, which relies on merchants to initiate the process of minting and burning.

According to Emperor Osmo, an anonymous writer for Cosmos-based automated market maker Osmosis, the investors in AVAX, the native token of Avalanche, are yet to take notice of BTC's growing use in DeFI, as evidenced by BTC.b's rising supply.
"Over $200M of BTC has been bridged to Avalanche [to date]. The BTC DeFi narrative is definitely not priced in for AVAX," Osmo tweeted early Friday.
At press time, AVAX traded nearly 6% lower on the day, near $16, the lowest since Jan. 20. The cryptocurrency has seen a 50% appreciation in its market value this year, per CoinDesk data.

Bitcoin-Bridged to Avalanche Reaches Record Daily Mint of Over 2K BTC
649  Economy / Economics / Re: Is taking a loan/debt addicted ? on: March 02, 2023, 07:05:17 PM
Honestly taking loan and addiction has got nothing to do with each other. It’s simple, if you want take the loan then you take it based on your income and repay it. Loan is blessings for those who are not born with silver spoon in their hands for example a guy like me!

I have taken loans 2-3 times but that doesn’t mean I am addicted to it. I had loan because I had some adjustments with my funding for particular stuff. I did repay 2 of them and again took another when we had some renovation to be done and required some extra cash for disbursal. I believe if you use loan system properly then it can help you with your life at certain phases.

650  Bitcoin / Bitcoin Discussion / Re: What's your reason for accepting bitcoin as a payment? on: March 02, 2023, 06:36:11 PM
Organisations, medium businesses and small businesses are accepting crypto, not rapidly but it's growing naturally. Customers are asking merchants to accept crypto as payment for services they are providing.

Well, this is a really basic reason. But merchants do have other reasons as well to accept crypto payments.

What's your reason? 

I am not sure, but this is first time I am reading that there are customers who are asking the merchants to accept the payments. I am surprised but at the same time I am very happy to read about it. If this is true story then yes we are moving towards good economical circle and we are winning the bid already.

However, there still remains many questions such as what is the source of above information. Was there any valid survey for the same which made you think this way?

In my business, I am always open to my customers and I allow them the chance to choose their medium of payment for my goods and services, though at the moment, it's pretty hard to see a customer who would be interested in making payment in bitcoin after buying goods from me, this I understand to be because most of the people buying bitcoin aren't buying it to spend it on payment for good and services, but to keep it for future profits.
I've had a customer tell me one time that he owns bitcoin and would have loved to pay for the goods he bought from me with it, but he hasn't made any profit on it yet, so for this, he preferred to pay me in fiat(our traditional currency).

Yes definitely this could be true because you know this from your own experience itself. Merchants are always trying to be smarter with multiple payment acceptance so that every type of customer can be attracted.

With the tag of "bitcoin accepted here" its but obvious that merchant will have rush of crypto lover at the first glance while others will be curious about the payment system and they may or may not ask what it is or how to do it. But we are surely moving towards the positive environment.
651  Economy / Trading Discussion / Re: Trading with profitability on: March 02, 2023, 05:43:53 PM
One of the mistakes traders do make which I have made in the past is to be looking for a better profit. A good example is when having $1000, looking for a way to make $100 or more daily. That would be when leveraging it will come to mind, but leveraging is one of the reasons some traders find it that they are continuing losing.

Leverage trading would be easy in the far more stable market but not in the volatile market like bitcoin or pick any other altcoin. Except stabelcoins, however it is next to impossible to take out any profits from the Stablecoins with leveraging strategy. In leverage where you can open the position higher than the amount you have placed isn't the thing of crypto trading really.

As an experienced day trader, or a scalper, if you have $1000, what profit will you be looking for? Also what amount is your stop loss? What leverage would you prefer to use?

Though I have some what average experience with this one, I would not fall for greedy trap and would consider myself OK with profits up to 20-50 dollars every day. The profits should not be taken as continuous revenue, because I will also have to consider the losses sometimes. It can not be lucky day all the time. We loose as well!

Recently I find it more profitable to earn just $5 daily either through scalping or scalp trading that is turned into day trading. I am not using altcoins for this but bitcoin.

Wow that is really low marginal trade with huge amount of money at risk. I think this needs to be reconsidered from your end.

If you are a day trader and you are using bitcoin to trade, if you have $1000, how much profit are you expecting daily? You may not use $1000, you can use percentage and I will understand what you meant too.

With intraday, I think easy 10-20 USD, considering it has heavy volatility all the time.
652  Bitcoin / Bitcoin Discussion / Re: Do you still believe in bitcoin? What's your percentage? on: March 02, 2023, 05:05:38 AM
My thoughts about the bitcoin are getting stronger day by day. In fact I am connected with bitcoin all the time. My fingers would automatically type word "bitcoin" every single day. I keep reading and posting news about the crypto space every single day without failing. That itself tells about my thoughts regarding bitcoin and crypto as whole.

I am constantly seeking for newer ways to share the bitcoin with my inner circle and have chats about it all the time.

Initially when I started with bitcoin it was really slow. I wasn't sure about it, but it was not long enough I boosted my investments, strategies and started playing along quickly. My thoughts have changed radically about bitcoin and they are mostly "positive".

653  Economy / Economics / $35 Million raise underway by Hosts of "Bankless Podcast" -to fun Web3 Companies on: March 02, 2023, 04:13:42 AM
Quick news coming from the crypto based podcast named as Bankless Podcast. As unique as it's name is and relevant to the way crypto currenices work with "bank-less" approach, total three hosts from the same has come together to raise around $35 million so that this money can be used for funding the new Web3 based companies and help the community grow further.

Further to this they will also focus on empowering the DeFi porjects. Last year itself they had acquired DeFi software project Earnifi under a newly created vertical called Bankless Labs.

Such fund raising is increasing from the Crypto Space and if money is utilized on proper projects then it can make money projects outstand from the Crowd and focus on newer vertical developments easily.


Quote
DENVER — The hosts of popular crypto podcast and newsletter Bankless are raising a $35 million venture capital fund to invest in seed-stage Web3 companies, sources told CoinDesk.
Show hosts David Hoffman and Ryan Sean Adams are to be general partners in the fund, said Ben Lakoff, also a GP. The trio comprise the fund’s investment committee, Lakoff said.
The fund, planned as a separate legal entity from the Bankless podcast, will nonetheless share its brand and likely enjoy the clout of one of the better-known content platforms in crypto media. One venture capital source said the combo of platform and investing arm would mean “incredible deal flow” for the nascent VC.

It’s the latest example of crypto media striking out into venture capital. Hoffman is on the ground at ETHDenver discussing the fund, one of the sources said.
Founded in 2020 by Adams and Hoffman, Bankless has built an influential multimedia presence with its flagship podcast, newsletters, YouTube channel and its own decentralized autonomous organizatio (DAO), complete with a $BANK governance token.
According to a preliminary website, the fund will focus on early stage crypto companies and on “empowering pioneers to explore the frontier of Web3.”
The pair have also been outspoken supporters of Ethereum, decentralized finance (DeFi) and self-custody.
The move by Bankless into the venture capital sector appears to be a continuation of the brand’s foray into crypto investing that began last year. Bankless announced last November that it had acquired DeFi software project Earnifi under a newly created vertical called Bankless Labs.
“Bankless is going beyond media,” wrote Adams in a blog post at the time. “Now, we’re building tools for your DeFi journey.”

But according to Lakoff, Hoffman and Adams will put the kibosh on their private venture deals once the fund launches with capital from outside investors, at which point everything will run through the fund.
"We've all been angel investing individually for years," Lakoff said, "and now we’re putting all that time and energy into Bankless Ventures to accelerate the bankless movement and are able to bring along select LPs to participate"

Hosts of Bankless Podcast Raising $35M Crypto Venture Fund: Sources
The popular crypto podcast is branching out beyond its media roots to invest in emerging Web3 startups.
654  Economy / Trading Discussion / Re: Emotion and Trade? on: March 01, 2023, 05:58:06 PM
I guess for someone to call him or her self a trader you need to control your emotions right, now after having that emotion in control and other basic things a trader should know you have all under control and still loss more then getting profit.

*What else is required for such a person to control,is it still his or her emotions or what next?

*And what will be your advice to a person in that position or state and what kind of trader are you going to call such a person?

Once can really start with segregated funding's to avoid any emotional damages during the trend. This is best advice for those who are not able to keep up with the "emotional trading", meaning someone who is trying to recover the losses by putting more money into the trading and on the process loosing more and more. Now, usually such people should start funding the trading accounts with limited amount of money. This should be defined by the money which is leftover after all the expenses (required one) and savings combined. This way even if someone loose it one should not be worried about it.

Never try to recover what's lost in the process but yeah should try to cover the losses in next slot of trading after account is funded by calculating the above formula. That is expenses + savings - left over money.

I guess for someone to call him or her self a trader you need to control your emotions right, now after having that emotion in control and other basic things a trader should know you have all under control and still loss more then getting profit.
Before you trade, you must control a few things.

- Capital you use for trading. If you fail to control it and assume you use all money you have for trading, you will easily lose control on other things.
- Your time allocation for trading each day, each week. If you self limit your time allocation for trading good enough, you won't trade too much, won't look at screens, charts too much. That is good for your health and emotion control.
- Control your emotion is difficult and it should be supported by your orders like stop loss, stop limit order. When you fail to control your emotion, those orders help you.

Correct. Over the period of time one may get trained for it but since we are humans and we love money, the possibility of getting stuck over our profits could be always at peak of the mountain.
655  Economy / Gambling / Re: FreeBitco.in-$200 FreeBTC⭐Win Lambo🔥0.2BTC DailyJackpot🏆$32,500 Wager Contest on: March 01, 2023, 05:04:19 PM
Its been a long time since I have won 5k RP and this time its on the free WOF spin we receive on mail.
This shows why it is equally important to spin the WOF spin daily that we receive on mail.
You never know what you win in the next free WOF spin.



Thanks for this mid-week motivation mate. I am forgetting the email WOF all the time. I hardly play 2 or max 3 from the email and rest are always expired one's. I think I should put some sort of reminder on my phone to check my daily WOF from email. That is really really good winning for you from just single free spin.

Right now I have accumulated more than 220+ WOF on my account and I am willing to reach 500+ before I can spin all of them once. I am just wishing I will get lot of 5K's in those spins and set my years of connectedness with Freebitcoin to next level. I will be more than excited to share my results.

I am thinking to create a quick screen recorder and convert it to GIF and share here for everyone to watch and get motivated. (Obviously if the results are good  Grin)

Congrats to the sub 25k bettors, it was definetly it contention that it could break upwards and we havent broken the uptrend imo.   We are just slowing the pace of gains, I would not guess it returns back to repeat lower range so I will heavily consider 30k for next month personally thats got to be viable and to get the time bonus on the development over a month.  March is a bullish month for BTC quite often I think.
$ 30k is the most reasonable price at the end of February, even though I have analyzed it at the end of February the bitcoin price should be just above $ 25k or touch $ 30k, but the market says otherwise and not everyone makes the right analysis and predictions at the right time also, bitcoin still need a little more time and i think waiting bet for prediction in this march .

That is too early to predict actually. I am hoping bitcoin would go beyond 25K but I hardly think it will touch down to 30K or anywhere near to it. I am more or less in the window of 24-25K only. I think I will also make quick bet to get that time wager multiplier turned on for myself. Good luck everyone.
656  Economy / Economics / Mr. Singh - FTX share holder of ~ $32 billion pleaded guilty | Crypto Criminal on: March 01, 2023, 04:43:23 PM
Mr. Singh held / owned about $32 billion, also proven by the court that he owned around 7.8% FTX's U.S. arm, 10% of it's venture arms, and 44 million shares in the main International Exchanger. By far calculation this made, Mr. Singh largest stakeholder in the FTX.

In the recent hearing, they pleaded guilty for about 6 crimes and now he is getting ready to give official statement against his Childhood friend and partners involved in the whole FTX drama.

On the other hand some of his colleague thinks, Mr Singh over the period of time got tangled up on wrong foot due to misconduct and improper directions. Some also says that people actually put him into that position so that he fraud the system.

Sadly, Mr Singh's past life and current life are entirely opposite to each other. For example, he was bright student, acted as Senior Class President at Crystal Springs Uplands School in Hillsborough, Calif. At the age of 16 he also participated in marathon of 100 miles to fulfill the charity.

However, over the time Mr. Bankman-Fried’s decisions made him to follow wrong foot path and he also never questions the whole point of running company that way. The article tells everything in storyline how it all happened, this must be the detailed review up until now. What is your take on this?


Quote
Nishad Singh followed Sam Bankman-Fried into the high-stakes world of cryptocurrency trading. Now he could help put the former FTX chief executive in prison.

Mr. Singh, the 27-year-old former director of engineering at FTX, pleaded guilty this week to six criminal counts, including wire fraud. He agreed to cooperate with the government’s investigation of FTX’s collapse.

The deal means Mr. Singh could end up testifying against a colleague and friend whom he has known since childhood. Just a few months ago, he and Mr. Bankman-Fried were housemates in the Bahamas, living in a luxury penthouse with other executives at FTX and its sister trading firm, Alameda Research.

“I’m unbelievably sorry for my role in all of this and the harm that it has caused,” Mr. Singh said in a court hearing in Manhattan on Tuesday.

n to ethics and philanthropy.

Mr. Singh wrote software code that allowed Mr. Bankman-Fried to divert FTX customer funds to Alameda, and—along with Ms. Ellison and Mr. Wang—knew about the misappropriation of funds, according to a lawsuit filed Tuesday by the Securities and Exchange Commission.

At this week’s hearing, Mr. Singh also admitted to falsifying FTX’s revenue at the direction of Mr. Bankman-Fried.

In a statement, his lawyers said he would do everything he could to make things right for FTX’s victims.

Mr. Singh owned a sizable chunk of FTX, which was valued at $32 billion before its collapse. Bankruptcy-court filings show Mr. Singh owned 7.8% of FTX’s U.S. arm, 10% of its ventures arm and 44 million shares in its main international exchange, making him one of the unit’s largest shareholders.

Raised in California by Indian immigrant parents, Mr. Singh became senior class president at Crystal Springs Uplands School in Hillsborough, Calif. Two former classmates recalled that he was an ambitious and diligent student. At age 16, he ran an ultramarathon to raise money for charity and set a world record for the fastest 100-mile run by a runner of his age, according to the San Jose Mercury News. He later did a TEDx Talk on the achievement, discussing how he overcame childhood asthma to become a long-distance runner.

In 2017, Mr. Singh graduated with highest honors from the University of California, Berkeley, majoring in electrical engineering and computer science. He took a job at Facebook but left a few months later after learning that his friend’s big brother had started a crypto-trading firm, Alameda, and needed engineers.

Bitcoin was in the midst of a wild bull market and the firm seemed like an exciting opportunity, Mr. Singh said in a 2020 podcast interview. “I watched Sam execute a sequence of trades,” he said, recalling an early visit to Alameda’s office in Berkeley. “I knew nothing about trading at the time, but even then it was understandable that sequence of trades was superprofitable and easy to understand.”

When he arrived at Alameda, Mr. Singh was “an unfailing nice person, good team player, good cultural influence and relatively weak programmer,” Mr. Bankman-Fried wrote in a 2018 performance review seen by The Wall Street Journal.

His technical proficiency improved over time, and he demonstrated a knack for easing internal tensions, eventually making him a valuable employee, Mr. Bankman-Fried wrote.

In an email to Mr. Bankman-Fried included in the performance review, Mr. Singh told his boss: “It’s really, really fun learning about trading from you. I do feel slow when I try to learn, let alone when I need clarification ten times later. Ironically I think it’d help my fears here if you were honest with me about when I’m being a dumbass.”

Mr. Singh moved to Hong Kong after Alameda set up shop there. When the firm launched FTX in 2019, Mr. Singh was one of the key technical architects of the new crypto exchange, along with Mr. Wang.

In 2021, when Mr. Bankman-Fried relocated FTX’s headquarters to the Bahamas for its crypto-friendly regulatory regime, Mr. Singh settled in a five-bedroom penthouse in Albany, an elite gated community, with other top executives. Among them was his girlfriend, Claire Watanabe, who ran human resources and some FTX marketing efforts. The two of them owned a goldendoodle named Gopher. The dog became something of an FTX mascot, appearing occasionally in Mr. Bankman-Fried’s Twitter feed.

Former colleagues say Mr. Singh generally fell in line with Mr. Bankman-Fried’s decisions on how to run the company. He occasionally became his pointman for tricky personnel issues. For instance, after Mr. Bankman-Fried fell out with the head of FTX’s U.S. arm, Brett Harrison, last year, Mr. Singh acted as a go-between for the feuding executives, people familiar with the matter said.

With other members of the inner circle, Mr. Singh was on the FTX Foundation board. The foundation backed causes popular in the effective-altruism community, such as research to prevent pandemics and limit the risks of artificial intelligence.

In an interview last summer, Mr. Singh said his earliest philanthropic efforts focused on animal welfare, but he had shifted to favor “long-termist” causes because of the greater potential impact on humanity. “You can care about saving lives today, or you can care about saving lives in the future,” Mr. Singh told the Journal. “Over time I’ve become increasingly convinced that trying to affect the future is just higher-leverage.”

Mr. Singh became a liberal megadonor, giving $11.7 million last year to candidates, political-action committees and branches of the Democratic Party, according to OpenSecrets.org, a website that tracks political contributions.

This week, Mr. Singh pleaded guilty to a scheme that involved making illegal political contributions using Alameda funds and masking the source of the money. In an indictment filed against Mr. Bankman-Fried last week, prosecutors said the former FTX chief executive used Mr. Singh as a straw donor to back left-leaning candidates. Referring to Mr. Singh as “CC-1,” the indictment said Mr. Bankman-Fried pushed the younger executive to give at least $1 million to a super PAC that would in turn support a congressional candidate associated with LGBT issues.

That episode appears to refer to Mr. Singh’s role in Vermont’s contested Democratic primary for its sole House seat last year. On July 7, he gave $1.1 million to LGBTQ Victory Fund Federal PAC, a huge contribution for a group that had only about $150,000 of cash at the end of June, according to Federal Election Commission filings. Over the following weeks the PAC spent $990,000 in support of Becca Balint, the candidate who went on to win the Aug. 9 primary, FEC filings show. Ms. Balint won the general election, becoming the first openly gay person to represent Vermont in Congress

Ms. Balint didn’t solicit funds from Mr. Singh and only learned he was behind the donation from news reports, said Natalie Silver, her campaign manager. Ms. Balint’s staff did meet with Gabriel Bankman-Fried and his Guarding Against Pandemics PAC, Ms. Silver added. A spokesperson for LGBTQ Victory Fund indicated it was ready to return the money, pending guidance from authorities.

In November, after FTX suspended customer withdrawals and it became clear that billions of dollars had gone missing, Mr. Singh fell into a psychological crisis, according to colleagues who saw him at the time and worried about his mental health. He sounded remote when colleagues tried to speak to him, and he was gaunt and unshaven the night before FTX’s bankruptcy filing on Nov. 11, people familiar with the matter said.

He and Ms. Watanabe left the Bahamas for the U.S. soon after.

How FTX’s Nishad Singh, Once an Honors Student, Turned to Crypto Crime
He is the latest member of FTX’s inner circle to plead guilty to fraud
657  Bitcoin / Bitcoin Discussion / Re: America Wants to buy Bitcoin 20% adults own it, while 29% willing to buy! on: March 01, 2023, 01:06:30 PM
@aboveall,
Interesting output. Idk, but I am also having similar thoughts on the statistics. Unless and until they are using some sort of proven theorem to give a conclusion its all in vain actually. I mean proving a point against group of 2k people and concluding what 60-70 million people are thinking is itself a big crack in the methodology.

My whole point of posting this article was to get views on how it works.

May be a statistian amongst us might like to enlighten the theory behind this. Moreover, when I read this article, there more google results stating about the same survey(s) and made me think how can we claim what others might be thinking.

I think such surveys needs to be done on larger groups. Like at least 10-20 million people to get right answers. But obviously it's practically impossible.

In addition to this, many times few of them would just give random answers causing huge errors in the calculation for sure.
658  Bitcoin / Bitcoin Discussion / America Wants to buy Bitcoin 20% adults own it, while 29% willing to buy! on: March 01, 2023, 11:45:01 AM
I am assuming the study was done based on ratio system where they took some number of participants and then factored it to give proper estimates. I am really not sure if we should believe these numbers or not but the study is really positive about Americans loving the Bitcoin.

The number of participants in the group were around 2,202 and study conducted based on the weightage of various factors of US based age group, education system, region etc.

Now this study translated the numbers to approximately 52.3 million Americans adult owning crypto while 75.5 million Americans are willing to buy the crypto in next 12 months.

I not sure if such study is viable or not but going further they also stated that overall 76% people from the American Soil think that Crypto and Blockchain is the future. Considering the fact that they already think current financial system need major changes and also upgrades, they would prefer crypto as their next big thing.

Quote
A national survey commissioned by Coinbase suggests that about 20% of U.S. adults currently own crypto. In addition, 29% of U.S. adults plan to buy or trade crypto in the next 12 months. “The vast majority of Americans want to see the financial system updated and they believe crypto can be a powerful part of the solution,” Coinbase said.

Crypto Survey Commissioned by Coinbase
A nationwide survey of 2,202 participants from the general population was conducted by Morning Consult from Feb. 10-14. “The data were weighted to be representative of U.S. adults based on age, race/ethnicity, gender, educational attainment, and region,” the market research firm described. “The purpose of this study was to examine perceptions of the global financial system and how U.S. adults and cryptocurrency investors view the future of the crypto market and exchanges.”

Citing the survey results, the Nasdaq-listed cryptocurrency exchange Coinbase, which commissioned the study, commented:

The vast majority of Americans want to see the financial system updated and they believe crypto can be a powerful part of the solution.

Noting that “80% of Americans think the global financial system unfairly favors powerful interests” and “67% of Americans agree that the financial system needs major changes or a complete overhaul,” Coinbase wrote:

The survey found that 80% of respondents believe the current financial system is unfair, with the overwhelming majority expressing frustration with the current financial system and a hunger for change.

The crypto exchange added that the survey further “indicates that most Americans remain optimistic about the future of crypto and understand its potential to be part of the solution to bring about meaningful change to the financial system that would benefit society as a whole.”

Coinbase Survey: 20% of US Adults Currently Own Crypto
659  Economy / Gambling / Re: Recommend your preffered slot games or game provider on: February 28, 2023, 06:08:14 PM
The best slot for me is Book of Dead and Roo Bonanza. If I am playing any of these then I am practically winning all the time. I dont know why but Book of Dead has given me huge charm while playing. If I am playing this slot 5-6 times a day then I am surely hitting 200-300x easily. However, my only con is I do not dare to place bet higher than 10 to 20 cents per lines.

If I am going 10 lines then I would just adjust the price per coin to keep the max bet per spin up to 25-30 cents. I also like to play these slots manually. Sometimes people are crazy to put it on auto mode and let it spin for ya, but that's not fun.

Most of the time of opening 5+ characters (boosters) in the Book of Dead and it profits me most of the time. Who else played this slot and is it lucky enough for you too?
660  Other / Archival / Re: [ANN] [banned mixer] | Best Bitcoin Mixer | Low fees | Fully automated on: February 28, 2023, 05:48:21 PM
Just asking question out of the blues, why we need privacy based browsers when we use mixing services or it is just an optional way to add more privacy to our transactions?
In general, IMO it is a good thing to add a layer of privacy regardless if you're trying to mix or not. If your ISP provider tracks you and logs the websites you visited, it can be a nightmare if those data got leaked and abused by other parties, or even your ISP in general. Such as blocking your access to some websites, an increase in scam e-mails, profiling, etc. On the other side, you can also argue that hiding your real IP address, in general, allows you to keep being trustless in the sense that you don't need to rely on the hope that Yomix or other mixers don't abuse your IP data or something similar. It is a win-win solution.

If using TOR really makes any difference then definitely we should have it either published on the YoMix site as well as have the corner of Signature code updated displaying TOR or relevant browser name for additional security or whatever purpose it may solve.
Nice suggestion. That being said, most users who use service like a mixer is usually well aware of how important privacy for their activity is. So using ToR is usually a requirement for them.


Damn, I did not know that ISP provider can do that. I thought we usually have the confidential agreements while procuring the internet connections. Lolz. I might be having some corporate mix ups here but ISP's should not be doing that.

Imagine on one fine day I am mixing my coins and suddenly my ISP sees the usual activity. Does it mean that they can interfere with the whole process? Like capture my web activity and control it in the middle of process and take the charge? I might sound noob in this regards, because I am not tech guy here and with the increasing internet features, it all takes a phishing attack to lose it all. That's why more concerned about it.

Now that makes me think, why TOR could be safer layer if such activities are open. Before this post I thought, it was only thing of public WiFi, but it seems we are not safe anywhere now.
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