Official Bitcoin Thread

[johnnyredstorm]

Da hemi as an nft

 

[executive76]

 

[essential1]

The problem with exchanges is two fold.
1. Trying to run like banks where they only keep a % of their consumers deposits on hand. Because crypto is so volatile and has no FDIC protection like money in banks does, you have to be strict 1:1. If not when the market goes to **** for whatever reason, it can’t play consumer economics because they don’t have enough deposits on hand therefore, bankrupting themselves.
Either hold the **** 1:1 or petition for same FDIC protections which is probably the route it can never go down.

2. They also can’t offer ridiculous APY on staking, there’s very little mechanism to consistently hit those targets especially with volatility long term. It’s why the interest rate on a savings account is so low, because if it were 10% APY, banks would shut down. Even if my $1 is worth $0.70 in 5 years, the perceived value is $1.00. That’s where crypto runs into **** is too many get rich quick schemes that are rug pulls which leads to every entity that has mainstream access has to act like every single project is dubious at best.

I say all of that to say this, as much as everyone wants to **** on exchanges, if Coinbase goes under, it will take most of crypto with it.
To be viable and taken seriously, it can’t be all about utility, it has to also be openly tradable and done with ease. Wide adoption only happens with ease of transfer.
And it’s been the same with every revolutionary technology advance.

 

[mplsdunk]

I don’t think Coinbase or binance will go under.

 

[Bert.]

I don’t think Coinbase or binance will go under.

Wasn’t coinbase in trouble a few months ago ?

 

[mplsdunk]

I don’t think we’re generating much money but that’s different than being a degen and holding 50% shib and yolo’ing all your customers money like ftx did.

 

[stuntman mike]

DCG and genesis on thin ice

 

[ballinsam23]

I'm of the camp that thinks all these alts suck and BTC will be the only one regulated when its all said and done.

Idc what team is behind an alt or how hard they're working. Idk I just dont see it.

Something seems off when every bull run there is a new top 20, but #1 stays the same.

 

[stuntman mike]

i think the projects that produce actual use cases and are actually used to generate revenue, will be ok so long as they comply with whatever regulations are in their respective jurisdiction. less ponzis and more uses where it actually makes better sense to use the blockchain (and token).

this is a super long read but i think it was really helpful for me to get a better overall understanding as a whole:

The Only Crypto Story You Need, by Matt Levine

Where it came from, what it all means, and why it still matters.

www.bloomberg.com

 

[johnnyredstorm]

$500 eth soon

 

[Air Champa]

So what are people actually buying? Think I'm getting back into SOL. May even toss a little change at amp. Would love for the 5 cent king to reclaim that title.

 

[finessence]

Legitimately none of this sounds like they ever had any intention of actually running a business whatsoever.

Just look at him and her… they look untrustworthy as hell

 

[sneakaprince]

Just look at him and her… they look untrustworthy as hell

Nah getting robbed by a shorty that looks like that is wild

 

[jjs]

So what are people actually buying? Think I'm getting back into SOL. May even toss a little change at amp. Would love for the 5 cent king to reclaim that title.

90%+ of my DCA is going to BTC and ETH

SOL at this price is bery tempting. If the developers stay; the price will go back up eventually. It's all about network effects.

 

[executive76]

 

[johnnyredstorm]

BTC and ETH get DCA’d for me weekly

I paused buying SOL and will just wait a while there and even then, I’m only interested in adding $500-1k of risk on

At this rate, we’ll see $500 ETH and a lot of opportunities will be present

 

[xbiker47]

How long until we get a movie about ftx?

 

[stuntman mike]

How long until we get a movie about ftx?

Documentary Film About FTX’s High-Profile Implosion Is Already in the Works: Report - The Daily Hodl

A documentary about the controversial collapse of FTX and its disgraced founder Sam Bankman-Fried is reportedly already in production.

dailyhodl.com

Buyers Circle Michael Lewis’ Book Rights On Fallen FTX Crypto King Sam Bankman-Fried: The Dish

The bidding for film and TV rights is shaping up to be wild and wooly on an unwritten book about the stunning collapse of FTX cryptocurrency exchange titan Sam Bankman-Fried. Lewis, the master of c…

deadline.com

 

[fluid hips]

Nah getting robbed by a shorty that looks like that is wild

Broad day with no mask on

 

[executive76]

 

[stuntman mike]

lol that dude is getting raked on ct

 

[Air Champa]

Here we go again.

 

[fapmasterjr]

Something is brewing…keep an eye on $tsuka today.

 

[So Much Sole 23]

Something is brewing…keep an eye on $tsuka today.

 

[noskey]

Something is brewing…keep an eye on $tsuka today.

Shoulda bought more yesterday when the MLP pool sold out