That fucking yellow malaka is responsible for this pump over the Turkey adoption "news"
Goddamn the memelords sometimes...
THAT was it? I saw that bs happen too... But as exciting as that "headline" was... the two words that made me immediately know it was fake were : "next month". That shit is impossible. Turkey using Bitcoin? Entirely possible, although my GUT says the powers that be in Turkey will be wanting to take the money the IMF et al will be offering them to keep their people on the leash. |
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Seems like a fairly decisive move?  Umm... what a damned tease! But notice pretty real volume on the rise, and very little on the huge dump. Maybe the dump happened at a different exchange(s).  |
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What are you guys opinion on the best option to turn crap into gold (ETH -> BTC) ? no kyc of course. I havent used an exchange in a very long time.
You can still do this via Exodus wallet without KYC, but of course you won't get a very good rate. Depending on various factors... a couple solutions that the word on the street is good about are changenow and fixedfloat... Fixedfloat generally offering better rates: https://fixedfloat.com/https://changenow.io/currencies/monero?from=eth&to=btcYou *could* need a VPN or TOR connection for some reason I can't quite remember.  |
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I am starting to think we might see the "These early Bitcoin assholes were lucky and do not deserve the gains they made" narrative heating up pretty soon. In some ways stories like the above kind of don't help. People are going to want to believe that our good fortune was entirely up to luck and involved no risk, or work on our part. |
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Seems like a fairly decisive move? |
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And, THAT'S better.. let's keep that going:  |
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Pure marketing stunt. Wallet is useless.. Even not denominated in BTC, only altcoin (Tether ERC 20). It's sad to see we (argentinians) are used for this. He pretends to be a saviour and Strike wallet adds nothing to our comunity. There are better wallets and services already in Argentina. (Muun wallet, or even local services and exchanges like Bitso or Lemon) Neeext!! Hueristic: I hope the best for you. Get well soon. I certainly agree on some points. I really like what he's doing overall. And I think partly what he's doing brings Bitcoin to Argentina big time. But as I mention in a previous post, he is among a growing sort of "Bitcoin Elite" among maxis that is actually using fucking ETHEREUM. Talking the Bitcoin talk, and walking the shitcoin walk. To me it's not even about Maxi orthodoxy. It's about having two faces. Many of you are probably aware I am a shitcoiner by definition as someone who thinks there will be a very small number of other projects that are also important. Personally I still only see one lol... but whatever. But I am honest about it. Maybe I am giving Jack Mallers too hard a time, because he is honest about it too... it may not be exactly him. It might just be the cheering Maxi hoardes that seem to view what he does very selectively. People who ask why Tether is important though... well this is it. This is the other side of the coin so to speak. If you give the masses the choice between BTC and synthetic electronic USD MANY will pick the latter. And they SHOULD have that choice right? And I see why they would make that choice. I hold a small amount of L-USDT just for dips 'n giggles. But Blockstream and Mallers (both of whom I am rooting for) are not the bastions of Bitcoin the Maxis seem to want to say they are. And before anyone assumes it, I am not anti-Maxi either... I am really just pro-consistency. |
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Sweden is such a shithole. If someone wants to set up a solar, wind, or hydroelectric generator on his private property and mine Bitcoin, its none of any government's business. Frankly in my opinion if someone wants to burn coal to do it the government should stay out, though I personally think renewable energy is where it's at... |
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Can someone please explain to me what the actual fuck is going on with the price action today?
Good grief.
Every now and then, after all these years... I find the fact astonishing that we are pretty much all just at the edge of our seats amazed at this view. Scared. Delighted. Worried. Knowing exactly what is going to happen, but having NO IDEA what is going to happen NEXT. Wow. |
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Wowee... I knew this was happening but it had not smacked me in the face like this 'till now. Brushing aside the fact the company's other assets make this owning bitcoin by proxy with a discount for risk (and NOT that it is owning bitcoin at all...) the fact it comes out to this number is crazy... But it's a legit bet. Because the people who own this stock ARE joining into a public companies asset structure and POOF.. there it is. |
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I agree that the Tether fud is, in general, fairly silly.
But I do want to say.. I am also not entirely comfortable with some of the trends I see happening with Tether.
There are lot's of two faced "Bitcoin Maxis" not only cozying up with Tether, but are actually using it via Ethereum at the same time of lambasting Vitalic and all the people on twatter with x.eth after their name.
I see a lot of nuance here. For example, I think I like the idea of using Blockstream's tether on their sidechain more than Eth for structural/scaling reasons. But I am still somewhat bothered by the tension between using Tether in place of Bitcoin... by so many people who have preached the "BITCOIN ONLY" gospel from the beginning.
....
But something just seems wrong about these idealists embracing Tether.
It bugs me. But I have not worked through all of it yet, I guess...
I can't say I know that much about Tether, as I haven't had any interest in it to look into it too deeply. Having a stablecoin pin its value on a fiat is already a laughably bad idea. But to back a so-called "stablecoin" without being able to prove that it's actually pegged to the fiat dollar, much less able to prove its pegged to anything at all really, nor to be able to verify who holds it or how much, if the collateral backing it (fiat) is there and accessible 1:1, seems actually far worse than backing digital fiat to me. And beyond just making day trading easier, what purpose does it serve? The warning has already been noted. Bitfinex volume much larger over the last 3+ months. And this is another reason I am looking for the nuance. Some things we know. 1. Bitcoin isn't going anywhere. No matter what. Tether could flick some shit at bitcoin, and it might spook the markets briefly, but it will NOT stick and Bitcoin will survive. 2. Tether does not threaten Bitcoin. They do not do the same thing. And people do not see the mathematical certainty that people are NOT going to store value in a fractionalized synthetic token run by some shell firm on some little island where Calvin likes to hang out. Not when they can store value in pure math itself. 3. Tether IS finding significant use cases. Increasing liquidity. Rearranging counterparty risk. And facilitating all sorts of Money laundering lol. But also working as the backbone for systems that move quickly between USD and BTC values. Don't both Strike and El Salvador use it? It is very interesting to watch the Federal Reserve stand and gawk as software absolutely DEVOURS them. Both good software like BTC, and shady crap like ETH and Tether. There are going to be many explosions. |
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Been thinking a bit, now that European countries are starting to to give up and say "fuck it, Covid is just another flu infection from now on", how are countries like China and New Zealand going to cope with that?
Are they going to stay in self isolation for ever?
They have to accept reality at some point and let the virus in.
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May the Ant survive this time
Why….
This time is different.
Merited both! |
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Thanks Chartbuddy for breaking up my unrelated posts... Just wanted to point out that volume has gotten fairly thick during this little segment... y'all see that?  |
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BTC trading at 2x since the ath of 2017
Pretty pathetic price performance if you ask me, especially for the long term holders
I will agree with you on this, bear. That's exactly the reason why I think the bull run is not yet over!  It has never ended in 13 years. But eventually it is bound to even out a little... Wouldn't it be crazy if the price arced up a little while the volatility settled down? Sort of the middle section of an adoption curve reflected in the price of the asset. Yeah. Crazy talk. One interesting thing about tech adoption curves. The further we go into new tech, the more aggressive the middle section is.  One of the things that can slow down an adoption curve is need/expense. Look at air conditioning. It is not an absolute NEED, and it is expensive to deploy AND maintain. Same as dishwasher. But look at electricity. It is arguably very important, and you do not have to use much of it. Bitcoin is facilitated by other curves. Cell phones, internet, computers. And it is more pure. And it does not really have a price. it *IS* the price. you can store the value of a new set of tires in it just as easily as you can a fleet of commercial aircraft. I predict the bitcoin adoption curve will be one of the most aggressive yet. And I think that will also be reflected naturally in the price. |
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I keep waiting for some giant chip fab entity (ie Samsung, Motorolla, Intel, AMD, Nvidea etc) developing a SHA256 ASIC on the down-low and starting to test them... I do not know enough about this tech/market to know if this is a possibility, but my gut thinks so. But I do not think it is impossible that some chip maker could get a quick ROI testing (Butterfly Labs style) a brand new ASIC. The financial incentive for this is crazy high.
Isn't it fun to think? Imagine Intel has designed and produced a wafer or two of these chips. Proof of Concept. And say the chips are a significant magnitude faster than the current crop. And then imagine them able to make serious money when they are burning them in. Then the meeting where they say, "We can pay a great deal of the R&D and FAB costs of these by just frontrunning the mining before releasing them. Should we?". This is one reason why multi-front ASIC chip development is so important. One attack vector would be able to produce a chip so powerful that you could use it for a 51% attack or the likes. I am thinking the time of that possibility might be past us? |
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I keep waiting for some giant chip fab entity (ie Samsung, Motorolla, Intel, AMD, Nvidea etc) developing a SHA256 ASIC on the down-low and starting to test them... I do not know enough about this tech/market to know if this is a possibility, but my gut thinks so. But I do not think it is impossible that some chip maker could get a quick ROI testing (Butterfly Labs style) a brand new ASIC. The financial incentive for this is crazy high.
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BTC trading at 2x since the ath of 2017
Pretty pathetic price performance if you ask me, especially for the long term holders
Yes. $40k bitcoin is such a huge disappointment.  |
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I agree that the Tether fud is, in general, fairly silly. But I do want to say.. I am also not entirely comfortable with some of the trends I see happening with Tether. There are lot's of two faced "Bitcoin Maxis" not only cozying up with Tether, but are actually using it via Ethereum at the same time of lambasting Vitalic and all the people on twatter with x.eth after their name. I see a lot of nuance here. For example, I think I like the idea of using Blockstream's tether on their sidechain more than Eth for structural/scaling reasons. But I am still somewhat bothered by the tension between using Tether in place of Bitcoin... by so many people who have preached the "BITCOIN ONLY" gospel from the beginning. I consider myself a reluctant Maxi. Or maybe a Maxi Lite. And this is not because I love shitcoins. In fact I hate the fact that we have to have all this noise. But I think about other crypto projects the way i saw Satoshi consider them as Namecoin emerged etc. Or in the same way that for a while nullc had a Monero address in his profile here. The way the cypherpunks might... with curiosity and an eye towards freedom, as in beer AND speech. But something just seems wrong about these idealists embracing Tether. It bugs me. But I have not worked through all of it yet, I guess... |
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I personally think Brian Armstrong and Coinbase have been a net negative for Bitcoin. And most likely will continue to be. Armstrong has worked as hard as he can to build a cantillon type structure in the crypto markets, basically actively working AGAINST one of the key innovations Bitcoin brings to the world.
It's the classic question. Is he evil? Or just dumb?
A lot of newcomers to Bitcoin don't know this, and a lot of the past gets memory holed and forgotten. In the first year or two when Brian A. was getting Coinbase up and running, he was interviewed on a few occasions. I remember one interview very clearly where the interviewer asked him point blank if he had any interest in altcoins (this was even before the term "shitcoin" became a thing), and Brian flat out, without hesitation said "No, because I don't think that they have any value beyond what Bitcoin offers." He then went on to say that Coinbase would be exclusively focused on Bitcoin and nothing else. So he was either lying then, or he his lying now. Perhaps the plan all along was an eventual bait-and-switch of the public. Or perhaps he has never been in control of his platform, and it was always the VCs calling the shots behind the scenes (my bet is on this). No matter what he might now say publicly, I don't believe that deep down inside he thinks that shitcoins have any real value at all. Either way, I agree with you that offering and promoting shitcoins has definitely hurt the Bitcoin movement, and is completely antithetical to Bitcoin's long-term mission. It will continue to distract and lead the dumb, get-rich-quick mass public away from Bitcoin, and they will continue to get scammed and lose their wealth. An analogy is that it's like a website that supposedly promotes health and fitness, but also selling heroin and donuts on their platform. It's also why you can't place trust in any celebrity or personality that's a backer of Bitcoin; you can only place trust in the asset itself. Yes. And there is an oft quoted 2015(?) tweet from him that says something along the lines of he does not think alts bring anything that can overcome Bitcoin's momentum. One theory that gets batted around is during the blocksize wars his company was a signatory of the NY Agreement. And since the failure of the 2x blocks he has basically said he felt like Bitcoin had lost the script. And this was also about when the alts started showing up. That and the fact that shilling all kinds of alts has made him a very rich man... well that's what drove it I think. The question still remains though. Does he just NOT SEE the difference between the centralized alts and the innovation that is Bitcoin. Was he just enamored all along with basically a grown up version of World of Warcraft gold? There are an alarming number of industry "insiders" who actually argue FOR centralization. I just saw some video with a coindesk writer making the argument that the VC/shitcoin connection was an anti-bitcoin sort of thing and Naomi Brockwell arguing that she would HOPE that the VCs get paid for their investments in centralized "web3" projects. The list of people who either completely miss Bitcoin's killer app, or are pretend to so that can enrich themselves if fairly large... and I had thought by now it might have receded. That was a foolish wide eyed fantasy. |
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