Bitcoin and cryptocurrency

So a judge says that your money invested isn't your money anymore. Never was your money once
you invested it the money became their money to do with as they please. If this isn't a scam, what is.
 
muttly said:
So a judge says that your money invested isn't your money anymore. Never was your money once
you invested it the money became their money to do with as they please. If this isn't a scam, what is.
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Actually what the judge said was that the 'terms & conditions' the investors had clicked on without bothering to read them properly and which stated the money was the companies to do with as it pleased were valid and enforceable.
 
Trust me. Put your money here. These things are promoted. People don't find them without promotion. I guess they just forgot to put in the part in the promotions about "And once I get your money it becomes my money."
 
At least a bar of gold can be a blunt instrument to get that bread-loaf one way or the other. Good lead pipe substitute for irrigation, I mean...cough.
 
Mr. Armstrong states in the above that cryptocurrency will provide "economic freedom" without providing any details. My idea of economic freedom is one million USD in actual currency. I hope Mr. Armstrong sees this.

:)
 
edwest3 said:
Graham1973 said:
SBF has set up his own substack and so now you can hear the excuses, evasions, etc, right out of the horses mouth, so to speak.

https://sambf.substack.com/p/ftx-pre-mortem-overview
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Bad idea. Prosecutors will be downloading everything.
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I agree, I can remember quite a few cases of people robbing banks and then posting pictures of themselves (unmasked) holding the cash to social media back in the late 1990s/early 2000s, for some reason they thought the police needed warrants to access public information.
 
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After the FTX fiasco, everything is now fine in the world of crypto. An excerpt from today's Barron's:

Amazon Has a Partner for Enterprise Blockchain Tech. Its Crypto Token Has Soared.​


Amazon Web Services has partnered with Ava Labs in a bid to accelerate the adoption of blockchain technology by enterprises, institutions, and governments.

The move has sent the linked Avalanche token soaring higher in recent days, outperforming even Bitcoin amid a major bull run in the biggest cryptocurrency.
 
I will invest once it MIGHT crash again and the value dropped. But I will try to be careful and not put all of my monthly savings there. I have a friend who so far has used Binance.
 
edwest3 said:
www.coindesk.com

European Banks Must Fully Cover Crypto Holdings With Capital, Draft Text Says

A leaked proposal that faces a vote on Tuesday deems crypto assets to be the riskiest kind, in line with emerging international guidelines
www.coindesk.com www.coindesk.com
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Politicians should stay away from it but of course they will not.
edwest3 said:
www.thestreet.com

Bankman-Fried Said He Had $100,000 Left. Government Seized $700 Million. - TheStreet

Federal prosecutors have seized money from bank accounts and crypto assets belonging to the FTX founder.
www.thestreet.com www.thestreet.com
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Hopefully SOME of those seized assets will return to their legitimate owners and not stay indefinetively in government's hands.
 
tech.slashdot.org

SEC Scrutiny Blocks Some Crypto Firms From Going Public - Slashdot

Crypto companies seeking to go public over the past year have faced increased scrutiny from the Securities and Exchange Commission, as financial distress and failures spread across the volatile industry. WSJ: Crypto-focused companies including Bullish Global, Circle and eToro have failed to...
tech.slashdot.org
 
From last Saturday:
news.slashdot.org

Wyoming Crypto Bank Denied for Federal Reserve System Membership - Slashdot

The Associated Press reports that America's Federal Reserve Board "has denied a Wyoming cryptocurrency bank's application for Federal Reserve System membership, officials announced Friday, dealing a setback to the crypto industry's attempts to build acceptance in mainstream U.S. banking." Many...
news.slashdot.org
 
EDIT: Not sure what happened here. I'll try to find the story I was posting here again.
 
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slashdot.org

Celsius Used New Customer Funds To Pay For Withdrawals - Slashdot

Celsius Network misled its investors -- and on occasion used new customer funds to pay for other customers' withdrawals, the usual definition of a Ponzi scheme, an independent examiner (PDF) for the U.S. bankruptcy court in New York said in a Tuesday filing. CoinDesk reports: In September...
slashdot.org
 

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