Crypto collapse: SEC takes on Terraform and Coinbase, ETF fallout continues, Tether is for crime (
from to on 20 Jan 2024 22:41


threaded - newest on 20 Jan 2024 23:37 next collapse

I think we’ll finally find the stable market price of BTC now that the ETF is here. Maybe people will actually use it as a currency now. on 21 Jan 2024 06:56 next collapse

really feeling that squeeze, huh? how many have you got to sell? on 21 Jan 2024 16:45 collapse

I have no stake in BTC, I just have GRLC on 21 Jan 2024 22:21 next collapse

Hah, look at this guy assuming you’re invested in the most overinflated primitive buttcoin! Actually you hold some obscure shitcoin that’s way better. You sure showed these haters. on 22 Jan 2024 01:17 collapse

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what a sophisticated investor you are, with your stake in something called fucking Garlicoin, whose chart looks like a series of pump and dumps fueled by problem gamblers

like fuck, can you imagine explaining to your family that you lost money gambling on something called Garlicoin? no wonder you go with the fake stock ticker sounding name and pretend it’s an investment on 22 Jan 2024 01:24 next collapse

Bro, you’re wasting your time with criticism, the garlic flavor is too strong for me to let go. Also garlic grows in the ground, so I got it all for free. on 22 Jan 2024 04:09 collapse

Here’s a nickle kid 🪙, go buy yourself a real sense of humor. on 22 Jan 2024 16:51 collapse

It’s also hilarious how sharp those value shifts are - super totes legit “trading activity” and not at all something hyper-exposed to controlling influences

(But seriously, it looks like a drunk PWM signal, wtf) on 21 Jan 2024 07:45 collapse

Paying 5 dollars per transaction (more if it actually does see an increased use as currency) seems like a bad deal for most transactions outside of large international payments, and even then there’s the hassle of conversion to a locally usable currency. on 21 Jan 2024 10:28 collapse

monero is the answer to this. Divisible into smaller parts and the fees cant go stupid high because of a dynamic block size. Fees are <=USD$0.01 per transfer and its being used as money not just for speculation. on 21 Jan 2024 16:30 collapse

It’s used for actual payments because it’s shamelessly crime friendly even by crypto standards, not because it has better block size handling.

This is why it’s being increasingly blacklisted by exchanges facing regulatory pressure, which I would assume is why it’s supposedly not speculated on that much. on 21 Jan 2024 17:06 collapse

Actually, that is a pretty good endorsement because if it can be used to commit crime, then that means that it remains private, which is why the government wants it off of exchanges so people can’t easily get it. If they wanted to prevent crime, they would outlaw the US dollar first. on 21 Jan 2024 19:25 collapse

Facilitating ransomware is good actually, is quite the take. But yeah this is a ‘we dislike all cryptocurrencies’ zone. on 21 Jan 2024 19:35 collapse

Lol. I don’t particularly like ransomware, but I am willing to deal with it to have privacy. Because the privacy to run ransomware gives regular people the privacy to do what they want to do that’s perfectly legal. Take an extreme example. Forks should be banned because you can stab people with them. Maybe five people die per year of being stabbed by forks, but hundreds of millions of people eat with them and never stab anybody, so they should all be banned. on 21 Jan 2024 22:59 next collapse

Except with crapto the proportion is the other way round, thousands of people use them to commit crimes but only tens of people use them legitimately.

So banning forks is a dumb thing, banning crapto is a boon to humanity. on 21 Jan 2024 23:20 collapse

Chain analysis companies even admit that about 1% of crypto use is for criminal activity. The other 99% is lawful use on 21 Jan 2024 23:22 next collapse

brings up monero

about 1% of crypto use is for criminal activity. The other 99% is lawful use

time for you to fuck off now on 21 Jan 2024 23:24 collapse

and of course their entire post history is just generic crypto misinformation with a weird monero obsession on 22 Jan 2024 00:38 collapse

Shit, here I thought that at least buying illegal drugs was a somewhat defensible reason to deal in crypto and now you’re telling me 99% of it is not even for that?

You’re not making monero look cooler, you’re just making digital privacy look worse. on 22 Jan 2024 00:39 collapse

the 1% claim is a distorted version of a report from Chainalysis that said 1.5% of bitcoin use was definitely identified as crime

even then, they calculated this by carefully ignoring most of the crime on 22 Jan 2024 01:09 collapse

I dunno, sounds reasonable to me. Just like when recent studies by independent groups of experts on fintech enthusiasts found that investing in cryptocurrency was correlated with up to 70% increased body odor, a statistically significant drop in attractiveness and between one and three standard deviations below baseline level of self awareness.

The independent group consisted of me. The papers are available if you pay me 350€ for a yearly subscription to my journal. on 21 Jan 2024 23:22 next collapse

Oh please do tell us more about all the legal activity you’re getting up to! What kinds of things are you buying? on 22 Jan 2024 03:07 next collapse

I’m already missing r/bitcoins usertags. You certainly deserve one.

Bonus of no longer being on reddit, when weird people get banned they no longer can DM me personally because they confused me for being a reasonable person open to hearing more. on 22 Jan 2024 13:24 next collapse

i, knowing the effects of ransomware on various institutions, am willing to deal with people who are willing to deal with it (on other people’s systems) by kicking said people in the face. i hope you don’t mind, nothing personal, really, just a policy matter. on 23 Jan 2024 14:14 collapse

Forks should be banned because you can stab people with them

That’s why you put a cork on the end of the fork, for safety. Rubrect put a cork on fork, may I got to the bathroom? [short YouTube link] on 22 Jan 2024 05:29 collapse

CoinDesk insists that dumping a mountain of ETH is good news for the price.

Aw dawg I have no background in finance or economics and even I know that this isn’t how it works, unless you’re in a bubble