a 4 year reminder to listen to this song https://www.youtube.com/watch?v=A7TuFy0fcuw
<3

Can vouch for alpaca socks, also have 3 pairs, gifted some to family.  worth every penny.

merry xmas to all

"I have them in a ISK"  Oh no not the double your ISK scam from eve online  
you people ready for the fire sales?  Maybe as a xmas present, maybe Q1 2023, maybe next week who knows but the people forced to push the button.

About anyone being a hero and pretending to be a lender of last resort, know that "for last resort lending to work, borrowers must be solvent" (Bernanke. 21st century monetary policy)

As for the current situation, another quote in his book (which is quite good) is appropriate: parenthesis are mine

"...The crisis followed the usual sequence of a classic financial panic: a buildup in risky lending (DEFI, lmao shitcoin collateralized loans), followed by a loss of investor confidence in the soundness of those loans; runs on the lending institutions by short-term funding providers (we just passed this); forced fire sales of troubled assets (shitcoins), contributing to sharp asset price declines; and insolvencies of lenders and borrowers, extending the downward spiral (we may be at the extending point)."

In short, central banks exist for a reason.  If you want to play pretend financial system with made up shitcoins, daddy Bernanke won't be there to save ordinary people.  No one will.  If I find out a serious institution accepted shitcoins as collateral for real world loans, I swear i'm gonna find another planet to live on.

edit: oh wait microstrategy fuck

Binance is gonna get rekted, probably lots of loans on BNB or whatever.  My indicator is that they just put out a new commercial featuring ronaldo

yeah they really need to present coin ranking with liquidity adjusted market cap.  Bitcoin would be worth much more relative to other coins vs now

Isn't Hal frozen?  so there's a chance...

Well accepting shitcoins as collateral for loans no matter the % collateralized was dumb as fuck in the first place, but noooooooobody cared

Bull bitcoin does it right : https://www.bullbitcoin.com/blog/why-bull-bitcoin-is-immune-from-ftx-collapse-and-crypto-contagion

"a poor internal labeling of bank-related accounts meant that I was substantially off on my sense of users' margin."
-Shitcoin Sam

then:

"SBF tells investors FTX needs $8B in emergency funding"
-WSJ

hahahahahahahaha thanks for the good laugh this morning Scammy Sammy

edit: also I wouldnt fuck a dictator over.  that's just bad business.

so.....lemme get this straight
Binance dumps FTX tokens knowing they'll be fucked since, well, they use FTX as collateral for loans or whatever (...remember cost of creating an FTX or token is 0.0000000000001$ on the blockchain)
FTX is fucked
Binance points gun at FTX and says gimme your non-us assets at what, a huge discount from highest valuation (dont think we know the price yet), or well dump more tokens and you'll be so fucked
Alameda is just his personal trading firm to front run clients and do the arb in house, they say "well buy all the tokens"
But they are full of diesel sludge because all their capital is probably loans based on worthless shitcoins they borrowed from customers at FTX
So they fold and the Sam guy cries in his 100s of millions or whatever of funds

And so the current cycle is coming to an end, where nothing was real and all was smoke and mirrors.

Stay tuned for the next pump, spring 2024 first wave, autumn 2024-winter 2025 is going to be fun (just my prediction)

Although if anyone remembers, my superbowl crypto-ad prediction seems to have come true  

You guys are wrong about meta....I feel they still print money every quarter.  Quest 3 next year, vr is still growing pretty good...millions of people play VR now.  Quest Pro admittedtly is a weird one, I wouldn't really buy it, there are better options depending on what you need.  But, how else are you gonna take a walk with your avatar ? edit: also people do amazing shit in VR now.  They just don't work for meta.  Zuck'll have to spin off Reality Labs put Carmack in charge, and step back.  Its the only way imo.
https://twitter.com/orange_3134/status/1586286981147136001

What a shitshow. From the binance page :"Block creators and validators may maximize their rewards. By rearranging transactions inside a block, a process known as maximal extractable value (MEV)."

That means : every transaction you do on a DEX is front-run by institutions and you directly pay the cost, unless you set your network fee pretty high and slippage really low.  The more i read about POS the more i dislike it.

20M$, 100-110, no !  570M$ of binance shitcoin created out of nothing
Also that Quebec pension fund investment thing is gross incompetence.  The fact they are saying due diligence doesnt guarantee success is just them trying to protect their own jobs because if the public knew how much of a shitshow the whole investment was (there was no due diligence done btw) they would be pissed as heck.

I can explain the whole Celcius business model in less than 5 minutes to anyone that doesnt know anything about crypto.  Its not a business model you want to invest in, unless
1-You plan to fuck everyone and sell before it falls apart
2-You are dumb as a rock and so is higher management and all the risk desk and all the investment teams, demonstrating criminal and gross incompetence that violate their personal fiduciary duties
OR
3-You invest because the people running the show (who have criminal backgrounds and have done scams in the past) give you A FAT BRIBE no one will ever know about.

I feel option 3 is the least bad one.

If anyone wants to have fun going through 15000 pages of transactions and user balances go for it : https://ia601401.us.archive.org/28/items/celsius/celsius.pdf
All the insiders sold and made bank

7million frozen, 100-110milllion (so far apparently) created lmao what a wreck

So this is real interesting.  Remember the GBTC arbitrage trade that no longer works : from bloomberg https://www.bloomberg.com/news/articles/2021-03-10/-slam-dunk-bitcoin-arbitrage-fizzles-for-biggest-crypto-fund "When that happens, hedge funds swoop in to take advantage. They borrow Bitcoin, deposit the coins with GBTC in exchange for shares that are more valuable than the coins they bought, and they pocket that profit by selling the marked-up shares after a six-month lockup period expires. Thanks in part to the trade’s popularity, GBTC’s assets have swelled to over $35 billion from about $1.5 billion a year ago."

Now we are at just under 12 Billion AUM.

Did some greedy as fuck hedge funds get fucked ?  35% discount, no one wants to buy GBTC ?  So they "arbitraged" thinking no risk for 34 billion probably as a group, making UNHOLY amounts of money (at first).  6 months is a long time in bitcoin.  Once unlocked I guess they have shares that the market can't absorb.  There just isn't any hecking liquidity, or demand for that kind of bitcoin stuck in a 2% fee vague-regulation-wise fund.

The Discount will keep discounting as they try to unload.  Else they are stuck with the gbtc paying 2%.

So the guy who made GBTC is making bank even in a bear market.  genius.  lure em hedge funds with an arbitrage trade, then use the steam roller to make them stuck in their trades and collect that percentage.  maybe i read this wrong but finance is fun.  get too greedy you'll get eaten by smarter people.

edit: is this guy for real making 200 million a year in fees.  Its ALMOST, ALMOST as good as stablecoin scams (every single centralized one) where they reinvest proceeds to generate returns, and when their chinese commerical paper goes belly up they can just say it didn't happen and apparently that works.

I was looking at bitcoin mining companies (hint: they arent doing well).  I always thought publicly listed mining companies were trash, especially since none (?) of them return any money to investors through dividends or whatever.
Then I came accross Hive Blockchain.  Holy moly, I calculate 100-150million in assets (coin, miners, etc), but its worth almost 500 million.  But get this.

"Of these 21.5 MW, approximately 14.8 MW are comprised of legacy GPU cards (primarily AMD Radeon RX580 cards)"  Someone correct me if i'm stupid with math, but that's like 120 000 RX580s.  Apparently they have 3cents power, so all that 14.8MW makes about net 500$ profit a day.

They say their company is "undervalued"    If Bitcoin falls further, with difficulty increases, we might see a similar scenario play out with big bitcoin miners next year or something, or near halving if price doesnt go up.  Maximum pain is still ahead of us I believe.  That ain't a bad thing btw.  Got to have a little rain to make a rainbow

"Yeah yeah so I'm a whore for John Deere products now"
Just wait to see how much bitcoin deere charges to replace a muffler on that

Finally, bitcointalk.org has a large reserve of BTC, so we're able to continue operating without ad revenue for many years centuries.

well that gave me a chuckle, thanks 

Buy the rumour sell the news ?  Every time.