Idaho
blah blah blah
It is galling to see some truly awful people making vast fortunes of the back of hype and nonsense, but it's best to just move on. Yeah we could have all been rich twenty times over, but let it go.
Bitcoin discussion and news
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gosub
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Dedollarisation
q_w_e_r_t_y
You see an investment scam and I see divinity
Blackrock and co are buying bitcoin because there is demand for their bitcoin ETFs, and legally they must hold the bitcoin backing it. As bitcoin is onchain, they cant obfusicate ownership, or deal in paper bitcoin, they must own the full fat version.
As to why there is demand for bitcoin ETFs, there is a whole cohort of boomers that see number go up and want some of that, but they dont really understand bitcoin, are afraid of scams and have no idea how to secure it. A bitcoin ETF gives them exposure to bitcoin, without the concerns of self-custody and with the backing of US regulation.
Essentially if you want access to the "number go up" property of bitcoin, but dont actually care about bitcoin, only dollars, you can now buy a blackrock ETF, without the inconvenience of having to learn about bitcoin and stay in the delusional fiat bubble.
As to why there is demand for bitcoin ETFs, there is a whole cohort of boomers that see number go up and want some of that, but they dont really understand bitcoin, are afraid of scams and have no idea how to secure it. A bitcoin ETF gives them exposure to bitcoin, without the concerns of self-custody and with the backing of US regulation.
Essentially if you want access to the "number go up" property of bitcoin, but dont actually care about bitcoin, only dollars, you can now buy a blackrock ETF, without the inconvenience of having to learn about bitcoin and stay in the delusional fiat bubble.
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Actually, I think qwerty has nailed this one! It’s the new ETFs alright, which have kicked off a new cycle of FOMO combined this time with the need to back each speculative punt with an actual Bitcoin. And qwerty is probably right about it being the Boomers too, who were clueless about how to speculate before this.
q_w_e_r_t_y
You see an investment scam and I see divinity
It should be pointed out tho that those buying the bitcoin ETFs dont actually own any bitcoin. Those bitcoin are owned by the Blackrocks of the world and all they have is a promissory note. I give it 7 years to the scandal.
Saul Goodman
It's all good, man
Whatever next... Fractional reserve bitcoining?
For something that's trying ever so hard to distance itself from real money, it's starting to act a lot like real money, apart from the important bits that make real money work.
q_w_e_r_t_y
You see an investment scam and I see divinity
Fractional reserve bitcoining was what FTX, Celcius and the others that collapsed in 2021 were doing. That game's gone now.
Bitcoin isnt money, but people treat it as if it were money....thats what leads to their downfall. For the ETFs, all but one have their btc held by Coinbase Vault. A federal seizure of Coinbase and that bitcoin is gone.
ddraig
kicking against the pricks...
Woman found with £2bn in Bitcoin convicted of money laundering arrangement offence
Jian Wen, 42, from north London, was involved in converting Bitcoin into assets like luxury houses.
www.bbc.co.uk
"The value of the Bitcoin was worth around £2bn at the time of initial estimates - but due to the fluctuation in the currency's value, it has since increased to around £3.4bn."
wemakeyousoundb
hopefully not gimboid
poor laundry lady :'(Woman found with £2bn in Bitcoin convicted of money laundering arrangement offence
Jian Wen, 42, from north London, was involved in converting Bitcoin into assets like luxury houses.www.bbc.co.uk
"The value of the Bitcoin was worth around £2bn at the time of initial estimates - but due to the fluctuation in the currency's value, it has since increased to around £3.4bn."
Every time a hardcore “not my wallet, not my bitcoin” type dies, there has to be a good chance that their bitcoin dies with them, right? Because if only they know their key, when they die, their wallet is inaccessible for ever. It’s not like other forms of asset that is accessed through an ID system. Some of these types might record the key somewhere that others can access it post-death, but that doesn’t sound a very crypto-obsessive thing to do for the main.
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ddraig
kicking against the pricks...
moochedit
I'm not feeding seagulls
He got 25 years...
BBC News - Sam Bankman-Fried sentencing live: 'Crypto King' jailed for 25 years - BBC News
littlebabyjesus
one of Maxwell's demons
He didn't help himself, did he? Was nobody there to tell him to show an unqualified apology and remorse?
I only have so much sympathy for his victims, though. The guy who lost 1.7 million is also someone who hoped to come out on top in a pyramid scheme.
I only have so much sympathy for his victims, though. The guy who lost 1.7 million is also someone who hoped to come out on top in a pyramid scheme.
Monkeygrinder's Organ
Dodgy geezer swilling vapid lager
Bang him up for 15 years. Then 10 years for the people under a million, 5 for under a half...
Saul Goodman
It's all good, man
I have zero sympathy for him or the people he fleeced. It's almost as if investing in something that has no intrinsic value and isn't backed by anything is a bad idea... Who'd have thunk.
beesonthewhatnow
going deaf for a living
This is glorious 
www.dlnews.com
Bored Ape fans blame Blur for falling NFT prices
Blur traders are counting on a token airdrop to offset their losses on Bored Apes and other NFTs.
www.dlnews.com
Yossarian
⏭️
This is glorious
Bored Ape fans blame Blur for falling NFT prices
Blur traders are counting on a token airdrop to offset their losses on Bored Apes and other NFTs.
I travelled around the world with this ape in my pocket. We went to the most luxurious hotels, the craziest night clubs and the most serene beaches. We had it all.
I know it's a different Blur but it's easy to imagine Alex James being involved in this
freshapple
Active Member
Very very funny
I genuinely thought it was something to do with Damon Albarn and Gorillaz.I travelled around the world with this ape in my pocket. We went to the most luxurious hotels, the craziest night clubs and the most serene beaches. We had it all.
I know it's a different Blur but it's easy to imagine Alex James being involved in this
NoXion
Craicy the Squirrel
Adam Something examines the story of crypto bros' attempt to build an anarcho-capitalist paradise floating on the ocean:
TL;DW: idiots with more money than sense run headlong into the kind of problems that occur when one makes grand plans while having a childish understanding of the world and failing to do even a few minutes' Googling on laws relating to owning and operating a ship of such a size.
TL;DW: idiots with more money than sense run headlong into the kind of problems that occur when one makes grand plans while having a childish understanding of the world and failing to do even a few minutes' Googling on laws relating to owning and operating a ship of such a size.
teqniq
DisMembered
Noise pollution making people seriously ill living near bitcoin mine in Texas:
time.com
Inside the 'Nightmare' Health Crisis of a Texas Bitcoin Town
A Bitcoin mine moved to a small town in Texas. One by one, the residents fell ill.
Or not. I think it's fair to say this whole thing is another example of the kind of people attracted to Bitcoin.
Craig Wright's Satoshi Lies
The final judgment on a fraudster who lied about me.
rorycellanjones.substack.com
Craig Wright: Finally, truth is the victor
Why the fake Satoshi ruling is important
rorycellanjones.substack.com
MrCurry
right after this urgent rest
Outstanding articles!Or not. I think it's fair to say this whole thing is another example of the kind of people attracted to Bitcoin.
Craig Wright's Satoshi Lies
The final judgment on a fraudster who lied about me.
Craig Wright: Finally, truth is the victor
Why the fake Satoshi ruling is important
I see Trump is backing bitcoin and plans to stockpile coins as a hedge against inflation... which is an interesting idea 
www.wired.com
Donald Trump’s Plan to Hoard Billions in Bitcoin Has Economists Stumped
The former US president has promised to establish a "national bitcoin stockpile" if he’s reelected and use it to offset inflation. But economists think the plan has little merit.
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