bit¢oin$

of course. a nice logic puzzle, I gave in too easily.

i'm doing my best here but if bloomberg matt tells me one more time that finance is cool i'm gonna blow my lid

ive made peace with matts blase finance guy attitude and even come to see at as an aspect of his art, which is obviously giving him too much credit lol hes just actually a finance guy its not that deep

I’ve come to terms with Matt as well. I’m a little disappointed that he some stuff doesn’t concern him more than it does, but at least he’s honest about it. I just want him to stop calling finance cool. That’s over the line

he finds it interesting which is fair i find it interesting too, but also i hate it, he likes it which is obvs a character flaw, but he pays penance by explaining it to me

im curious to see how deep hes gonna got on the market manipulation aspect of bitcoin here, the possibility that its all totally fake

Society has mechanisms—capitalism, politics, etc.—to allocate resources, with a rough heuristic of: “The more good stuff you do for society, the more good stuff you get for yourself.”

um...

weird conclusion as well, which goes against the tone of the rest of the article where he's a wide eyed fan boy about the 'cool' financial stuff but sceptical about real world applications.

i mean he's writing for bloomberg, i guess he can't just pedal-to-the-metal on "you love the market you get the hose"

if you are a regular reader of his column the whole piece, including the conclusion, is vmic

BREAKING: FTX appears to have stopped processing withdrawals, on-chain data showhttps://t.co/jc9EvTcSJu

— The Block (@TheBlock__) November 8, 2022

they are doing a bank run on bankman-fried

bank man fried indeed

good detail on the not-at-all shady and/or goofy location of the relevant computer

pic.twitter.com/OxniLnsEUx

— web3 is going just great (@web3isgreat) November 7, 2022

lol youre like hidden safe alright makes sense, under some blankets....

these days they have wallets that are on their own weird lil encrypted networks so you dont really have to have yr coins on hardware you just need your seed phrase https://electrum.readthedocs.io/en/latest/faq.html?highlight=server

dont think that was invented when the guy did the heist tho, or maybe he didnt trust them, but idk id prob trust them over a thumb drive in the floor

1) Hey all: I have a few announcements to make.

Things have come full circle, and https://t.co/DWPOotRHcX’s first, and last, investors are the same: we have come to an agreement on a strategic transaction with Binance for https://t.co/DWPOotRHcX (pending DD etc.).

— SBF (@SBF_FTX) November 8, 2022

FTX investor tells me that the company has not yet sent them any information on the deal. Says all he knows is what he's seeing on Twitter.

— Dan Primack (@danprimack) November 8, 2022

hey all exchange was imploding someone elses problem now lol

the guy who caused the exchange to implode is now gonna own the exchange

thats called being a big business guy

so the binance ceo examined ftx's holdings (via unknown means) and saw that he could tank ftx by selling the ftx token, did exactly that, and now gets to buy ftx for the cheap? lol

the other piece is that he caused a bank run by suggesting publicly that there could be a bank run, doesnt seem good for crypto exchanges/defi/whatever, lil too easy

so much of crypto is not only fake its double fake, like the ftx coin was priced at x number of dollars but on very low volume, obviously its fake in the first place its crypto but its fake again because theres really not enough trading for real price discovery, and its very sensitive to market manipulation or just someone who owns a lot of it saying it sucks

binance is under active and regular SEC scrutiny IIUC, but any port in a storm i guess.

also isn't it illegal for US citizens to use some (all?) binance services?

i think theyre just buying the non us stuff ftx.com, theres another site/org ftx.us for usa

yeah valuations are inherently fuzzy / more of an art that a science, feel like i've read of a few crypto scams that happened because some smart contract that hardcoded valuation as last traded price X current number of coins outstanding without accounting for any other factors and got obliterated as a result lol xp

lol nearly 10% drop today, fun cuz the affiliate I signed up for poker rakeback with pays out on the 7th and can only pay in BTC and my stupid ass for some reason decided "eh I'll cash it in tomorrow"

It's wild to me that it's still hanging in there around $18-19k, has sort of stabilized for the moment.

I sometimes think it will just stick around for a while as a relatively easy way to move wealth, like basically rich people who want to be able to cross borders with massive amounts of assets on short notice will just keep some chunk of change in btc and other crypto. BTC market cap is now just under $400B, but you have to assume a huge % of that is in lost wallets.

still deep pockets out there who have an interest in keeping the price up

yea I mean I don't really see online poker going back, since crypto means you don't have to follow all the insane banking regulations propped up to make moving cash around incredibly difficult for gambling sites. I have (reluctantly) learned to use it and I'm not crazy about all the fees but hey, it's better than what we had before.

yeah the only time i did crypto was to move poker money around, think i still have a fraction of a bitcoin in some wallet somewhere

now is the time to bet it all on red 23, as they say in poker circles

were online poker to be legalized across the usa im sure theyd use normal banking tho, bitcoin is just too much of a technical hurdle for most people, and a pain in the ass even for those who can get it to work

i bought like $200 of bitcoin in like 2016 or 2017 in order to buy film from some guy living in japan who was already a true cryptovangelist at the time... had like $10 leftover after i bought the film... when i logged on last year during the crypto boom it was worth 10x or something, i can see the appeal lol

right, I think a lot of younger online players don't know that this actually used to be a lot easier. I used to be able to take money out of one site, put it in another, clear a bonus, then have the money in my bank account 5 minutes later, all without any fees whatsoever

ah interesting

As Protos reported in August, market makers Alameda Research (spearheaded by crypto billionaire Sam Bankman-Fried) and Cumberland Global (a subsidiary of trading giant DRW) are still the biggest fish in Tether markets.

Together, Alameda and Cumberland received at least $60.3 billion in USDT across the time period analyzed, equal to around 55% of all outbound volume — ever.

$49.2 billion (71%) of Alameda and Cumberland’s USDT was acquired in the past year alone, equal to about 60% of all Tether issued in that time.

https://protos.com/tether-papers-crypto-stablecoin-usdt-investigation-analysis/

https://www.reuters.com/business/finance/crypto-exchange-ftx-saw-6-bln-withdrawals-72-hours-ceo-message-staff-2022-11-08/

To put the $6b in 72 hours into context: The biggest bank run in US history was WaMu in 2008, which totaled $16.7b in 9 days https://t.co/pCB0lCZoNM

— Felix Salmon (@felixsalmon) November 8, 2022

they did that boy dirty lol

Lol

Larry David was right #FTX #FTXCRASH pic.twitter.com/x7BVFA8dpS

— Edgar Alan Dough🏋🏼‍♂️📈🅱️ (@edgaralandough) November 8, 2022

it was a beautiful dream

https://i.imgur.com/JgzRd4h.png

Tron based algorithmic stablecoin $USDD has begun to depeg and is trading at $0.985 pic.twitter.com/cNA3nJ0P6T

— Dylan LeClair 🟠 (@DylanLeClair_) November 9, 2022

lol, course as soon as I say it's stabilizing, it hits a new 52-week low.

didnt take long

Here comes the SEC and the CFTC https://t.co/yGg2H4K6qw

— Silvia Killingsworth (@silviakillings) November 9, 2022

be funny if SBF ends up on the run like do kwon

they should be roommates on a super yacht

hahah i missed that even do kwon is scoring points here

https://t.co/zBKU98Nmef pic.twitter.com/S1PyYnqpBx

— Do Kwon 🌕 (@stablekwon) November 8, 2022

down 16% over the last 24 hours lmao

lmao love when fugitives keep tweeting good stuff