Quote :

"I hope OEP hasn’t lost all of his money"

lol

also from da link

Quote :

"There is no problem that cryptocurrency solves, and to the extent that it is functional, it does things worse than we can already do them with existing electronic payment systems. To the extent it has advantages, the advantage is doing crimes. And every other claim made for the superiority of cryptocurrency as currency falls apart if you scrutinize it. "

5/18/2022 1:05:07 AM

From HaLo:

https://www.currentaffairs.org/2022/05/why-this-computer-scientist-says-all-cryptocurrency-should-die-in-a-fire/

Good enough to be toward the top of this page.

5/18/2022 6:54:23 AM

Quote :

" Modern finance has this rule that anything electronic needs to be reversible for short periods of time. This allows an undo in case of fraud. Have you had your credit card compromised before? I’ve had my credit card numbers stolen a couple of times. The amount of money I lost is zero. Because we have both good fraud protection and good ability to reverse transactions. That does not exist in the cryptocurrency space. If your cryptocurrency wallet is compromised, all your apes are fudged. "

This seems hugely important to me and something that I’ve never really seen defended by crypto advocates. It’s touted all the time that all these transactions are recorded on the blockchain so it’s fully transparent and traceable. But what good is that if there’s no recourse or regulation over stolen and scammed shit? The entire premise of a currency not regulated by governments feels like a bad idea to me.

It’s also just a funny concept to me that….“BTC will replace fiat money one day. Also, let me tell you how much BTC is worth in US Dollars”.

Very good article and easy to understand.

5/18/2022 2:13:18 PM

Quote :

"Back at $60k. Where all the haters from page 4?"

What happened to CaelNCSU? Did he get Covid and die?

5/19/2022 12:02:14 PM

Quote :

"Seth Green’s Bored Ape NFT, which was set to star in its own animated show, was stolen through a phishing scam. Green no longer owns the commercial rights to the NFT and thus the show cannot move forward. ??: https://t.co/Bdrw8qKhzi https://t.co/MBO1XvLIML"

5/24/2022 7:33:40 PM

That sounds like something from The Onion.

5/24/2022 8:28:37 PM

^^ Even though the whole thing is stupid, Seth still owns the NFT as a matter of law.
https://twitter.com/AkivaMCohen/status/1529276073896296453

5/28/2022 9:55:14 AM

Good to know the unregulated marketplace only works with regulations

5/30/2022 12:05:39 AM

^LOLZ!

5/30/2022 8:39:33 AM

https://www.justice.gov/usao-sdny/pr/former-employee-nft-marketplace-charged-first-ever-digital-asset-insider-trading-scheme

First but certainly not the last

6/1/2022 5:14:18 PM

$1 billion has been lost in cryptocurrency scams since 2021, FTC warns

https://www.cnn.com/2022/06/04/business/cryptocurrency-scammers-ftc-warning/index.html

Quote :

"Cryptocurrency scammers have stolen over $1 billion from 46,000 people since the start of 2021, a new Federal Trade Commission report says. The FTC rang the alarm bells on Friday, saying crypto-related crimes amount to about one out of every four dollars reported lost to fraud -- more than any other payment method. The median individual reported loss was $2,600."

6/4/2022 5:17:02 PM

Quote :

"🚨 � BREAKING: Bored Ape Yacht Club and Otherside Metaverse Discord servers have been hacked. Millions worth of #NFTs reportedly stolen. Full Story https://t.co/JtYku9bcAD"

https://twitter.com/WatcherGuru/status/1533106970630270982

[Edited on June 4, 2022 at 6:13 PM. Reason : E]

6/4/2022 6:13:07 PM

This is just formalizing their complete loss of funds.

6/4/2022 7:27:58 PM

Why has oep not posted in here lately

6/5/2022 3:48:39 PM

honestly, i'm surprised only $1B has been stolen in a 2 year period. that's only like 30k bitcoin.

6/5/2022 10:27:21 PM

How’s it goin?

6/13/2022 10:09:07 AM

Going DOWN!

6/13/2022 12:13:19 PM

Nobody should care bc this was supposed to be a replacement currency not an investment

6/13/2022 5:01:48 PM

Oh yeah. True! I don't care because I don't have any such investments -- I mean currency!

6/13/2022 7:00:33 PM

I still wish i got in at $22 and out at $10k

6/14/2022 2:05:28 AM

Great buying opportunity. Will probably be back to 50k by end of summer.

Just use my referral code for a sign up bonus.

6/14/2022 6:00:02 AM

Today is an even better buying opportunity

6/15/2022 12:28:27 PM

Bill Gates says crypto and NFTs are a sham

https://www.cnn.com/2022/06/15/tech/bill-gates-crypto-nfts-comments/index.html

Quote :

"Don't count Bill Gates among the fans of cryptocurrencies and NFTs. Those digital asset trends are "100% based on greater fool theory," the Microsoft co-founder said Tuesday at a TechCrunch conference, referencing the notion that investors can make money on worthless or overvalued assets as long as people are willing to bid them higher. Gates added that he's "not long or short" crypto. And he mocked Bored Apes NFTs, joking that "expensive digital images of monkeys" will "improve the world immensely." Instead, Gates said he prefers old fashioned investing. "I'm used to asset classes, like a farm where they have output, or like a company where they make products," he said. His comments come as bitcoin and other cryptocurrencies are crashing. Bitcoin hit an all-time high of $69,000 in November 2021. Since then, the world's most valuable cryptocurrency has lost two-thirds of its value, tumbling below $23,000 on Tuesday. It has lost about 25% of its value since Friday. Crypto exchange Coinbase announced that it's laying off 18% of its employees as the digital currency market continues to crumble. Gates has previously doubted crypto. In a 2021 interview with Bloomberg, Gates said that it was one thing for Elon Musk and Tesla to invest in bitcoin, but that doesn't mean average investors should follow that lead. "I do think people get bought into these manias, who may not have as much money to spare," Gates said. "So I'm not bullish on bitcoin.""

Yep.

6/15/2022 6:16:02 PM

Close to $19K for BTC.

6/18/2022 11:23:40 AM

Now below $17,800.

6/18/2022 5:04:48 PM

Seems like if it goes below 10k it might be time to stock up right?

6/27/2022 5:26:59 PM

im buying a $100 every week.

6/27/2022 7:22:15 PM

Buy something that actually has value instead.

6/27/2022 7:28:13 PM

Why I Emptied Out My Crypto Exchange Accounts (Including Stablecoins)

https://www.mymoneyblog.com/emptied-out-my-crypto-exchange-accounts-stablecoins.html

Quoted in full below, but best to read on the site for formatting (which I'm not going to go to the effort to duplicate), and for embedded related link preservation.

Quote :

"As I’ve said many times, I’m not a crypto expert. However, I do enjoy financial history. As such, I’ve followed crypto through the lens of Matt Levine’s observation that “most of what actually happens with Bitcoin is about rediscovering financial history and re-creating the traditional financial system from scratch.” FDIC insurance didn’t come around until 1933, after the collapse of many banks during the Great Depression. With FDIC insurance, every bank is essentially equally safe if you remain under the balance limits. Before FDIC insurance, you had to choose very carefully where you kept your money because if the bank failed, then your cash disappeared as well. So when there was any whisper of bank failure, you would have everyone rushing to withdraw, thus causing a “run on the bank”. Let’s look at recent events in the crypto “bank” world: On 4/25, Matt Levine interviewed Sam Bankman-Fried and we caught a glimpse of truth about the crypto ponzis out there. One of the top royal advisors was saying that the emperor had no clothes. On 5/8, the algorithmic “stablecoin” UST broke its $1 peg. 5/9 was worth only 35 cents. 5/12 worth 10 cents. Currently worth about 1 cent. On 5/20, Stablegains, an app promising 15% APY based on UST, shut down abruptly with customers altogether losing over $40 million. On 6/13, Celsius suddenly froze all withdrawals for their 1.7 million customers. On 6/20, Babel Finance, which refers to itself as the “world’s leading comprehensive crypto financial service provider”, limited customer withdrawals to only $1,500 per month. On 6/23, Voyager Digital set a $10,000 daily withdrawal limit. Apparently Voyager made a $600 million loan to a hedge fund called 3AC that is in default. Voyager total assets are under $150 million! Now Voyager itself has taken out a $200 million line of credit to survive (and pay out customer withdrawals… for now). …to be continued. The promise behind all of these crypto loans was that they were “over-collateralized” and “asset-backed”. This usually meant a $1 million loan make in exchange for collateral of $2 million in Bitcoin. In theory, they should just sell the Bitcoin collateral when it drops by 50% and get their $1 million back. Sounds reasonable? So what happened? Other lenders like BlockFi and Genesis did perform a margin call and sell out 3AC’s positions. I’m not sure why Voyager did not. In my opinion, this put into question every other lender out there. I feel like a bank customer in the 1800s that overhead an anxious whisper. I have withdrawn nearly all of my assets from various exchanges like BlockFi, Coinbase, Gemini, Voyager, etc. I did put a small amount of experimental money into high interest stablecoin accounts, but have withdrawn those as well. Even if you are long crytpo, you still need to survive the crashes. You can move your coins into an offline cold wallet (but don’t forget the password!). You could move into what you consider a safer custodian. You could sell and withdraw the cash to reinvest elsewhere. Coinbase is the largest US-based cryptocurrency exchange, still worth over $12 billion dollars as of this writing. However, it is still true that a bankruptcy could wipe out whatever you keep in your Coinbase account: Coinbase said in its earnings report Tuesday that it holds $256 billion in both fiat currencies and cryptocurrencies on behalf of its customers. Yet the exchange noted that in the event it ever declared bankruptcy, “the crypto assets we hold in custody on behalf of our customers could be subject to bankruptcy proceedings.” Coinbase users would become “general unsecured creditors,” meaning they have no right to claim any specific property from the exchange in proceedings. Their funds would become inaccessible. Even if Bank of America, Chase, Vanguard, and Fidelity all went bankrupt, I would still have the same cash and same ownership share of businesses due to US laws and regulation. Crypto exchanges “feel” like an FDIC member bank account or a SIPC member brokerage, but they aren’t the same and your deposits do not have the same protections. Bottom line. This is NOT a prediction about the future value of Bitcoin itself. I don’t think all crypto is completely worthless, but I do think that crypto exchange failures will happen. If you have assets at a crypto exchange earning interest, that means they have lent your assets out. This means you are the unsecured creditor of a risky start-up business. Even if a stablecoin like USDC remains worth $1, if your crypto custodian fails then you can still lose it all. So I moved it out. I don’t want to be at the end of a very long line, waiting to ask for my money back."

6/28/2022 10:06:37 AM

Quote :

"im buying a $100 every week."

if you are really that dead set on losing money every week, you can just send me the $100

6/29/2022 10:18:17 PM

As a collective we expect more out of you Justin

6/30/2022 5:34:56 AM

I think it was a good post. It met my expectations.

6/30/2022 8:44:11 AM

i think this is the bottom for bit coin. it will always a level as people see value and buy illegal shit with it.

7/1/2022 4:23:00 PM

Calling bottoms and tops for bubble assets is not so easy.

7/1/2022 11:47:01 PM

Quote :

"What happened to CaelNCSU? Did he get Covid and die?"

Ded. Moved to Florida, but still have house and job in Cali. Still have the miners I bought @48k and cars @ $20k. Would have been better to cash out in dollars for sure.

https://mobile.twitter.com/DeFifrog1/status/1541915717414621184

My biggest losses by percent were in Matic and AVAX.



[Edited on July 2, 2022 at 12:09 AM. Reason : A]

7/2/2022 12:03:25 AM

7/2/2022 12:13:05 AM

Feels like you belong in Florida, TBH.

7/2/2022 5:11:47 AM

Yeah for sure. Next time pharma companies need another $100 billion I'd rather not be forced to be a guinea pig so some pharma exec can buy a bigger MJM yacht to cruise Sarasota.

Getting an extra grand a paycheck because there is no state income tax is pretty sweet too.


[Edited on July 2, 2022 at 9:44 AM. Reason : A]

7/2/2022 9:43:18 AM

But on the other hand, you have to live in Florida.

7/2/2022 2:50:12 PM

Aren't the largest MJM boats only 53'? Does that same pharma exec drive a Toyota Camry?

7/2/2022 6:35:01 PM

Yall throwing around these mf acronyms like mf know wtf mjm stand for fr smdh etc

7/7/2022 12:32:58 AM

nttawwt

7/7/2022 5:48:49 PM

Voyager files for bankruptcy protection. People on the exchange cannot buy or sell and are likely unable to reclaim the full amount of their holdings. Oops!

7/7/2022 6:34:48 PM

^^lol

7/7/2022 11:04:44 PM

nocn

7/8/2022 11:50:54 AM

^^^ HODL

7/10/2022 11:15:09 PM

^OFC

7/11/2022 9:51:28 AM

Looks like some more suckers coming in to the pool

7/18/2022 5:22:47 PM

Tesla sells most of its Bitcoin holdings

https://www.bbc.co.uk/news/business-62246367

7/20/2022 11:06:54 PM

https://www.theverge.com/2022/8/3/23290149/solana-ecosystem-blockchain-attack-hack-wallets-phantom-slope-supply-chain

8/3/2022 6:13:52 PM