im surprised no ones yet using the name
'scam bankman fraud'
to explain the guy that owned FTX.. seems a obvious moniker for him

its coming to light now that although FTX was well advertised (US football stadiums) shilled youtube influencers and the likes. FTX was not popular in regards to numbers of customers

what is being found out is FTX was not widely used by the same customer numbers as coinbase/binance customer account numbers.. but instead that it was large institutional whales invested in FTX
big Names not big numbers

though even at say $15billion loss. a total of 1.2m users is not that much in average value per user, its just $12.5k each
or the more plausible amount of 100k whales is $150k each

...
as for "the hack". i see more of a "lets retire and say someone else stole the funds"
the "dont use our website or app" i see as more of a 'stop doing a bank run" scare tactic for those trying to access their accounts to withdraw
and account access denied as "it was the hack not us"

...
well the future now is 'scam bankman fraud' may have escaped the bankruptcy legal liability when he resigned(bureaucracy of write offs of fiat liability). but it seems he has not escaped the unlawful criminal fraud his business is being investigated for

news of a "hack" is just the sideshow. 'scam bankman fraud' has alot of questions to answer to about HIS activities prior to resignation

1. LN is NOT bitcoin. bitcoins never leaves the bitcoin network. and so playing with units on another network is the same RISK people need to be aware of as using sidechains and pegged tokens

2. she seems open to admit the flaws and issues. especially the RISKS of theft (time: 30:40+ of video)

3. risks(just the top 6 of the many dozens)
being online to watch counterpart doesnt publish = risk
being talked into using a certain wallet that offers certain features = risk
using a custodial hub (you're an extra layer away from self control) = risk
not looking beneath the GUI to check which 'states' you have = risk
not knowing which 'state' is being published =risk
not checking or observing the onion payment to 'state' conversion rate = risk

and thats before we get into the bugs, flaws, liquidity and bottleneck issues

LN has had 5+ years to develop and its not even user friendly
bitcoin was in a 'download and just run' scenario within 1 year. people didnt need to run special hardware or download several bits of software just to see a easy to use GUI just to make a payment without a headache or much prep work

i dont see LN ever being in a position of 'just download and make payment' (without it having to rely on middlemen)

..
things to be aware of..
LN devs are trying to transition utility over to a visa like 'tap and pay' or custodial system of users having a RFID chip or user accoun that has the private keys where EPos terminals sign your LN keys into a onion routed payment of msats. meaning they have access more then you do to the underlying funded utxo

the risks of this is . the RFID does not save your current states. nor does it give you control to chase down a broadcast by your co-partner(counterparty) of a channel

..
bitcoin yep the actual btc on the bitcoin network. does not have these risks, user flaws, bad experiences when making btc payment son the bitcoin network. and it did not have them in year 1

LN and any subnet/sidechain. is not a 'solution' to scaling where everyone should leave bitcoin and offramp to sidechains/subnets. .. yes use other networks at your own risk TEMPORARILY and for short term niche utility/convenience(AT YOUR OWN RISK. but KNOW THE RISKS and do not default trust them as value stores long term

i expect to see all the fangirls chime in with their LN adoration brigade hymn sheets singing the utopian song of LN..

but learn lessons from tethers, luna, FTT and other crap coins and sidechains.. that peg value to other networks and leave people holding the bag or losing the bag of crap or not having their hands on the good actual asset they were promised

be risk aware
LN is not a settlement immutable network to trust as a store of value. its a temporary service of convenience for small amounts you do not care much to lose.
think of it that way and stay safe.

maybe he is doing a subtle double meaning.. possibly (for satire, speculation)

he could also mean
winter is a Q4 of a year(we are in now)
long(up) instead of short(down)

thus we could be entering the bull this quarter

wealth is the abundance /plentiful supply of money
in short more money then you need to live happily

we are in the era of code / A.I
you would be surprised what is possible for code to self sustain itself

there is code that can:
automate signing up to accounts on AWS
run a node on AWS
solomine or pool mine on AWS
make payments to AWS subscription service
to automate transaction payments in the network

startig a new network/coin, which when activated at genesis that then mines and expands mining in an automated way, is possible
creating an abundance of coins more than its needed to self sustain(live) is possible

to clarify

FTX.us and FTX international was not the largest firm based on customer numbers. its said that there are under 1.2m creditors/customers combined (some say under 200k in just the international part)

where as coinbase for instance supposedly has 60m customers..

but FTX international customers are not the normal users of 'minnow'' trade amounts/volume.. FTX.us/ftx international was a low user number but of large whale volume/investment amount

(however math suggest 1.2m customer in a portfolio of $10b-$50b is only $10k-$50k average invested in the FTX portfolio per user)

these whales did include the likes of binance and even kevin o'leary(sharktank) https://www.youtube.com/watch?v=BxEFYqbOchc

many businesses (not small citizen level investors) had money in FTX international.

so we could see some knock on affect of other businesses

.. many people have been shouting about a binance downfall.. but binance  stepped out of its investment before the rug got pulled. i can understand other investors would be mad that binance jumped before telling them.. and then going public before telling fellow investors. but i dont see binance breaking due to FTX, they got out early and safe

FTX is sister of DCG which is mother of coinbase, paxos, greyscale and multiple other exchanges. i feel they got their profits/stake out months ago too because SBF was buddy buddy with DCG ceo (however i could be wrong)

..
we may actually see scenarios of companies/exchanges not collapsing but using this event to rubber stamp their fiat accounting to do a "paper loss" as their tax avoidance methods on the profits they actually achieved earlier in the year

a 5G device with wi-fi hotspot is a very low energy device.. (its a cell phone in modern era)

this can be physically attached to a solar panel
thus guaranteeing wi-fi access for a 30metre radius self charging

one stage further
a LED street light only needs 40watts per hour and only need to run at night = 12 hours =500watt per day(rounded up)

which if having a solar panel with good sunlight for say 5 hours = needing a 100watt solar panel to power a street light with spare wattage to keep a cellphone charged

thus streetlights can become solar farms which also offer internet.. or vice versa depending on who pays what.

take it a stage further
instead of paying the electric or internet company with fiat.
the streetlight includes raspberry pi with a USB asic dongle

mining a utility coin which sales at a rate to pay off the solar panel and 5G

a $15 a month 5G contract for internet is $0.50 a day

500watt a day can convert to under 10cents. = $0.60 cost a day which the usb asic has to achieve

stage further.. lets invent bitcoin.. oh wait.. its here already.. wow thats good.
so if hashrate stays in the 260exa range. but bitcoin market was at ~$35k(not this month, sorry)
the hashing of a usb miner of 0.2thash would get that $0.60 a day
thus covering the price of the 5G and slow pay off of the solar panel

enjoy

decades ago people need to be employed by a company

whether it is recruited by
Michelin to be restaurant reviewer/critic.
Travel company or a Travel Tv studio to review locations/vacations

or
to be offering advice/guidance, you would need to have gone through college/university to get qualified and have alot of work experience to become "expert" of a thing you want to advise give guidance or tutorials on


but recently due to the openness of social media and decentralised platforms. anyone can now become an influencer. you also have internet access meaning you dont really need to be a international business doing trade deals to get access to wholesale prices of merchandise to sell on the side
you can now just cheaply use alibaba/aliexpress to get cheap merch to then resell, creating your own brand

decades ago code developers needed to be recruited by sega, microsoft, nintendo, or sony to create games as employees, where those games were in the form of "sale once, own forever" where the employee didnt get passive income from their creation but a contracted salary from the head company, which ended when your job was complete.

mow people can release their own independent software/games and have passive incomes via in-game purchases or subscription models

even more recently the "in game purchases" has evolved again where you are not just selling weapons for shoot-em-up games or costumes. but able to sell server space where other businesses can set up in-game shops on your server which sell goods in your game where you then charge those businesses rent for their placement in your in-game streets/arena's

decades ago people with second hand goods in their homes had to do 'garage sales' or 'car boot sales' to sell second hand goods locally. even auction houses needed buyers to be present in the auction room.. but lately the internet allows people to sell goods new/used on sites like ebay, etsy, shopify, etc internationally, reaching more viewers and more customers

again you dont need to be a big business owning warehouses to achieve this you can simply use dropshippers/fulfilment centres to be your distributor, where you simply pass on the delivery address to them

..
when it comes to crypto..
decades ago to "be your own bank" you needed to be an elitist having done all the business/finance qualifications getting a charterd licence and setting up large institution sized business. to then offer financial services.
these days anyone can create an altcoin. or a service that utilises existing coins

you dont need to 'pass the bar' to become a day trader, you dont have to live/work on wall street. you dont even need to wear a suit.

1. it clearly says temporary, not permanently so dont worry about permanently
(unless you continually try to exceed attempts like a brute forcer)

2. support systems are not "reply within an hour".. be patient it may be 72 hours or a week.

i find it funny people have waited 8 years for mtgox returns and then get upset when they have to wait 24hours-week

stay calm be patient is best advice. before trying again try to work out what may be the possible reasons the KYC didnt recognise you in your first tries.
did you years ago spell your name with a capital letter and this time lower case. have you moved address or using new contact info to your initial records years ago during the administration process

dont just think you can just brute force multiple variations until you get it right. instead think clearly about how you presented yourself years ago and be consistent to that and minimise your attempts. especially dont just bash the keyboard every 30 seconds with new attempts.. give it time between attempts

fall to $3k?? u kidding right?

bitcoin value (not price) has been $15k for alot of 2022

the bitcoin market has been testing prices above this. and yet has not actually pushed prices down enough to sway/push value down.. (speculation, sentiment, social drama has not scared the markets or mining to crash value)

even FTX drama this week has not caused huge drops/crashes.. in comparison to normal price variance of the last 6 months
all of this is helping prove the value support of $15k+ is strong and that the markets dont want to drop to stupid amounts you quote like $3k/$10k

the markets have tested lows this year via many speculative negative events (luna/ftx/elon)

if big events like FTX cant kill prices in half or quarters. then that helps show how strong the market is supported at the $15k rate of value underlying the markets..

2022 has shown to be a market average of $20k with speculative swings above and below of +/- 20% either side ($24k-$16k)

we have seen a $17k in previous months and this weeks $16.5k is no different to "norm" acceptable swings.. this is a sign that FTX cant even kill the markets, and thus cant kill the underlying value supporting the markets

all of this is a good sign

premium? you mean discount

at a 2% a year fee. means a 30% discount implies a couple decades worth of peace of mind before break even/loss

extending the discount further implies it will take longer to get the ETF operational so they are offering more discount to offer more peace of mind.. you you are correct. its for retirement as it seems it may take that long before people are able to truly cash out at a true bitcoin rate(converted to a spot rate)

no.

its not about throwing coins into a wallet today to then publish a screen shot to show exchangeA is liquid today. then move those funds out straight away and use same funds in exchange B to publish to make exchange B look liquid... thats not how publishing of reserves work

its more so listing their cold wallet addresses. much like how the website bitcoinrichlist tags the exchange names to their wallet addresses. so that any time people want to, can view how much an exchange has in cold wallets.. where they can just look up the wallet tag name and see how much the exchange has in custody at any time..

..
if any fund shuffling rumour is true.. then its a sign that exchanges were operating fractional reserves by instead of holding assets in reserve in their own exchange(as they should do) they were previously putting user assets on other exchanges to trade for exchange owner profits using users funds(should not be doing this) and so now pulling those coins back into the exchange they suppose to be reserved on, to then show they still had control of coins in one place

FTT is a dead token.
no one should be buying it. its worthless
do not be left holding the bag

no exchanges should be offering trades of FTT token

FTX should not even be offering it out to exchanges to even allow exchanges to then offer it to their customers..

so its actually right and correct to delist the dead token

what FTX should do is freeze their token in FTX and then offer FTT holders refunds at a preferred rate

..
other exchanges trading FTT is not a situation of offering refunds if they continued allowing trading. instead its getting idiots to buy FTT(idiots left holding the bag(body bag of a corpse)) to fund those previous holders to exit FTT.. which is immoral if they did allow trading of the FTT token

for those holding FTT token dont be immoral trying to offload your body bag on new investors. instead do the right thing try to exit your body bag by getting FTX to refund your holding

the feeling and opinion. is that SBF is saying that it got hacked to mitigate/delay/avoid liability of the losses the company has by pretending an outsider took the funds.. (essentially.. the funds were fine under his management but suddenly disappeared when he was not ceo(too convenient to be true though))

however its sounding more like SBF and other founders mis-apropriated funds over the years themselves...

the "story" is that hackers have access to the front end services of the user login pages and apps. so if users go to website or update app software the app/website supposedly meant to allow hackers access to users funds to steal it..

i call it a story because it sounds more like an excuse of "please dont log in" meaning "dont come to us trying to withdraw your funds
as a means of detering users from doing a bank run on the exchange to try to get their funds out

both sha256 and elliptic curve is in open source code.. you can read it. and thousands have. there is no back door

white papers are not code. they are just the manual/prospectus.

when you read the code. then you see how things actually work and you can then see if there are any backdoors..
again for emphasis.
the code for hashing blocks and also the private/public key curves is open source. it has been reviewed by millions over the years. there is no backdoor, and thats why people trust crypto(blockchains) more than the fiat world of businesses and custodial databases that are closed source

as for btc-room prefering ethereum PoS
(EDIT: seems BBC room now supports Eth classic in his edit. )
(to add.. ETC is priced at near $20/coin but underlying value is $6/coin so its speculating at a high of more then 3x value. so NOT good to be selling btc to the be buying etc either)
(anyways ill still leave my warning about ETH PoS below)

ethereum Pos is mostly custodianised and staked into centralised exchanges..

hasnt btc-room learned anything this week about exchanges owning users assets..

also ethereums underlying value(value always sits below market price) went from $900 to $40
due to PoS.. while the market rate $1.5k(pow days) $1.2k(Pos days) shows that the market rate is falsely being propped up instead of correcting down to new value levels..

ethereum value:price is at a speculated premium

bitcoin however has a underlying value of $15k for the year and the market rate is brushing near it. meaning a great time to be buying bitcoin right now while its cheap and near value.

its the worse time to be selling bitcoin to then buy ethereum

selling low(btc) buying high(ETH) is a bad investment decision
..
whilst ethereum is at its premium of expectation and speculating high.. people should be selling ETH before the fall. and then buying bitcoin while bitcoin is low.. especially when most of ethereum is custodianised and can break due to PoS control of staking by custodians(centralised exchanges).

total capitalisation is a MEANINGLESS number

i can create an altcoin today. and have 5 trillion coin premine
sell just ONE single coin on a public market for just $1. and boom i have created a capitalisation of $5trillion

all for the cost of a candy bar
forget caring about capitalisation numbers. they are backed by nothing.
its a meaningless calculation of all units of medium of exchange multiplied by the current price of their market price. which the market price is not a valuation of the hoard.

market price is just a moving price of sentiment of small orders of single amounts moving by the whims

market price has no linkage to coins of circulation. and the coins in circulation have no relationship to any fiat reserves held or backing the market prices of cryptocurrencies

...
i personally have large hoards of bitocin for many years. more so then many readys on this forum. but i dont value my hoard dependant on the market price or a % of some total market cap

my value of bitcoin is based on other things that are more important to valuations. and i am happy with the value line and the market price amount above the value

this years VALUE (non zero bottom the planet refuses to sell bitcoin below) is ~$15k. no one this year has or can acquire bitcoin for less than $15k

the market price is speculatively wiggling in price above this value. and right now yes its brushing close to that value line. but thats a good thing. great time to buy bitcoin while its at a good value cheap price for the year to buy

future years will see the value line raise. and respectively the market price above that raise too.

these social drama events of business failures, help show how supported thiese underlying value lines are.. if they dont crash or if markets stay above certain levels. it proves the point.

this weeks drama has not seen prices drop 50% like MYGox 2014 days of the $400-$200

its seen prices stay in the same region as the last 3 months.. bar a small hold down.... but even so prices are still above the $15k line

so im not concerned with the social drama of businesses failing an d causing sentiment fears. i definitely dont care about "total capitalisation" numbers

from what im gathering..

FTX had a token called FTT which alameda had ALOT (multiple $billions of value) which meant that alameda also meant to have bank account fiat to back up those tokens

so although customers put fiat deposits into FTX exchange. the conversion to FTT token meant the bank account fiat moved to alemeda to back the token

however alameda is supposedly (the speculation rumour) used that bank account fiat for alameda/FTX business plans and not kept it as reserves for customers to back the FTT token

this is why CZ pulled out and sold his stake in FTX because CZ paid using the FTT token which CZ found to be now fractional reserved/lost its peg due to not having the fiat to back the token. due to FTX/alameda spending the reserves on other business plans

..
but thats a fight for the fiat stuff of bankruptcy legal bureaucracy. which seems to be leading to unlawful criminal charges.

to me the fiat losses and shuffling is just side drama of fiat society stuff..

i personally want to know about the crypto custodial/reserves SBF handled, and where over the years they have shuffled around, and where they are right now
where by i want to know how much some secret entity(SBF or a partner has secret retirement fund keys) might be holding a big bag of crypto away from authorities to throw around in later years,, which would affect the crypto markets/industries long after the bankruptcy criminal actions of fiat have blown away in the wind of history

moving 'fiat' is just paper logs on databases.. easy to shift/spend

for years sam has been buying dying companies. and paper shuffling fiat values.. while also shifting out good assets and leaving the dead companies with paper fiat debt numbers on accounting databases which then gets written off in fiat bankruptcy

im more concerned about the crypto assets. and where they will end up
because you cant destroy crypto on blockchains or remove crypto from blockchans. there is no 'debt' or 'minus bitcoin'.. there is just ownership changes of who has the keys
..
as for rumours. thanks for update. personally i like to do research and not speculate.. and only explain possible directions speculations can take.
but if true that SBF is involved with authorities not as a victim/witness to hacks and instead is on the chopping block for business bad practices(my personal opinion)
then the FIAT shuffling may be important to the fiat world. although fiat shuffling of fraud is easy.. i still remain more concerned about the crypto movements of SBF bad practices

..
when it comes to regulatory oversight
regulators(businesses) are not overwatch-active..
they instead stand back and rely on people and businesses reporting other people and businesses to regulators and then regulators decide if its worth actioning

yes i hate this. i would rather have regulators as government departments which actually are aimed more at the consumer protection by actively auditing and checking that businesses are ethical. rather than standing back and waiting for people to report things after the fact

but as said previously.. the regulators are businesses and more siding with the banks/businesses. rather than being independent watch dogs of business

now your sounding tin foil hatty(your final sentence).

soo
the world bank level/ WEF..
(the types of people you speak of) do have an agenda

they dont care about individual countries fiat. because they are more involved in SDR's of international reserves. which they are migrating into a multi network of CBDC's (asia/euro m-bridge)

their other plans are that oil/coal/gas was (even from the 1980's) known to be depleted by 2050 anyway. so they do have fingers in the "climate 2050 deadline" argument about national treasuries funding of keeping energy companies in profit while they pivot to renewables

yes they dont want users to have currencies working internationally away from the world bank system. but the world bank system as said previously is lobbied at the middle points of banks and businesses to change the laws of nations above the businesses. to then have more control of their customers below them

i dont see the world bank people as puppet masters pulling strings above governments(pinocchio string puppet).. i see them as scrotum ticklers of governments (hands up the puppets bottom(kermit the frog)) reaching inside a government from underneath a government, which then allows them to set up regulatory bodies(businesses) below government

businesses(underneath government) can and do set policies for their customers (contract law)

i dont see sam(SBF) as part of the world bank club of soros and rothchild..
but as a business man he has his own wants/desires of shifting bitcoin to a commodity regulator and his other idea's

many busineses have their many different idea's and wants for how crypto affects their business and opportunities/access their businesses have want or dont want.

we should not be going conspiracy theory of point finger at a single entity like there is a single master puppet master. but instead realise there are many business interests that want to change crypto to business whims and actually spot all these attempts

by decentralising and not relying on central businesses. we can fight against this. if they dont become important to crypto, they cant gain power over crypto.
EG devs not being sponsored by large institutions/businesses that are regulated
EG exchange/gateways in and out of crypto not controlled by just a couple power house regulated exchanges, but multiple smaller ethical services that dont have much % of the crypto community as customers each

we can as low level citizens/customers/users do things
things like protests do nothing. its just shouting at the air.

we can lobby governments. again not via silly street parties and protests.. but using petitions(the contracts/methods banks use)

wel can do 'bank runs' voting with our feet by taking assets out of exchanges(not your key not your coin events) to not give exchanges too much control of too much assets in one place

we can set up asic farms not in large warehouses of 1exahash.. but in multiple locations of shipping containers, or individuals in their spare rooms

we can also more importantly. not rely on one software brand as the "reference client" where that reference client HAS implemented a mandatory change of the features without needing users to upgrade first to vote that feature in to then activate it

when it comes to crypto. crypto does not just disapear off blockchains. and so users that deposit crypto but dont swap it for non crypto(fiat/non blockchain tokens) their crypto should be reserved and held and returned 1:1
by users not being able to get back their crypto is bad and can involve unlawful/criminal reasons why those cryptos are gone

he could be speaking to them about giving evidence/proof of "hack" meaning he is a witness/victim giving evidence of an outside crime.. or the authorities could be looking at him as a suspect of insider fraud

we dont know yet so its speculation..

anyways
legally(contract/finance(punishment:fines/restrictions)
he sidestepped liability of personal bankruptcy and having to be limited in his future business practices by stepping back as CEO and putting a fall guy in when filing bankruptcy. (captain did not go down with the ship)

however
lawfully(criminal(punishment: probation/prison))
he could be done for fraud or theft if authorities can prove he wronged his customers outside of the terms/conditions of user agreements and where he crossed the lines of tax law or accounting law

i never seen him as altruistic. he was a liquidator. yes for a 30yo he had a savvi business mind about some of the loopholes and methods to gain assets
even things like saying "dont use the app, dont use the site" is savvi way to stop a bank run by getting users to not go to the site (if there was no real hack but just insider shuffling of assets)
...

many businesses think if they throw in the word "investment company" they can get away with users losing their value. but this is about the exchange market orders of the users swapping at bad value and not able to trade back later at better value. where the market is not at fault for users decisions to trade badly

however as a custodian (holder) of users assets not traded. those assets  should not have moved/lost.

it all depends on what legislation and what crowd you want to invite

everyone is ok with consumer protection legislation. that insures or protects users from massive losses.. however legislation that limit consumer access/utility is not good. or where legislation puts in barriers of entry for people to set up businesses or be involved in the infrastructure/backbone of a industry.

i get it that having an ETF means that greyscale(DCG) can start offering 'shares' to the pensions industry. which means then buying up huge baskets of bitcoin to put into ETF trust s as collateral against those shares..

but to open it upto jurisdictions like the CFTC/EPA to get that consumer base. also means the CFTC/EPA then get to set rules on bitcoin businesses such as asic farms.

yes bitcoin as code has no ears or eyes to care about fiat laws.. but the business at the edges(included the corporate sponsored developers) then get pressured into complying

bitcoin as a peer to peer currency could and should decentralise more, less sponsored devs at the code side.. and less centralised exchanges and mega asic farms

bitcoin will always survive. for instance if USA/euro regulations on mining quota's are adopted into law. restricting electric utility of locations.. miners would just move to other locations like south america

if regulators pressure the developers to push for PoS. thats a fork. where they can play with their cheap crap fork.
however if the exchanges and devs are combined coerced to brand the PoS fork as the 'main'/actual brand BTC and try killing off the PoW.. then we need to fight this