Bitcoin and cryptocurrency

yro.slashdot.org

Man Sues Town for $647 Million Over Trashed Bitcoin Hard Drive - Slashdot

smooth wombat writes: In 2013, James Howell's partner inadvertently threw out a hard drive along with other trash. Unknown to this person, this hard drive contained approximately 8,000 bitcoins. For the past decade Howell has been petitioning the town council of Newport to excavate the landfill...
yro.slashdot.org
 
First intelligence fled from mediocrity, then creativity fled from political correctness, then factories fled from unions and now physical money flees from taxes.

I wonder where they all went.
 
Trump launches his own cryptocurrency.
www.bbc.com

Trump launches meme coin, $Trump days before return to White House

Hours after its launch, the value of the coins for $Trump reached nearly $5.5bn (£4.5bn).
www.bbc.com www.bbc.com
US President-elect Donald Trump has launched his own cryptocurrency, which quickly soared in market capitalisation to several billion dollars.

His release of the meme coin, $Trump, comes as he prepares to take office on Monday as 47th president of the US.
[..]
CIC Digital LLC and Fight Fight Fight LLC, a company formed in Delaware earlier this month, own 80% of the tokens. It is unclear how much money Trump might make from the venture.
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As they sing and dance across the stage...

We've got nothing
Lots of nothing
We've got nothing for you!

Why rob a bank?
 
Like it or not bitcoin is an established financial product. And as it has become more mainstream will get more and more regulation.

The large US BTC EFT's are registered with and regulated by the SEC as investment companies under the Investment Company Act of 1940.

And with BTC options and other derivatives can be hedged, just like most financial products.

AMP made a $27 million investment in bitcoin in May, which at the time equaled about 0.05% of the fund's $57 billion in funds under management.

Those who seems to continually get scammed online would be scammed no matter what the product.

www.yahoo.com

French woman scammed into thinking she was dating Brad Pitt, even paid €830K for his ‘cancer treatment’

What are the odds a celebrity heartthrob’s hitting you up for a quick Venmo? Spoiler: Zero.
www.yahoo.com www.yahoo.com

Regards,
 
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In my opinion, cryptocurrencies are the most logical response to the regulatory excess, loss of credibility and lack of understanding of the economic reality of many governments. Most politicians are lawyers and believe that it is not necessary to know about economics when it is so easy to raise taxes.
 
In my opinion, cryptocurrencies are the most logical response to the regulatory excess, loss of credibility and lack of understanding of the economic reality of many governments. Most politicians are lawyers and believe that it is not necessary to know about economics when it is so easy to raise taxes.
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Outstanding comment.

Taxes the simple fix to everything, only issue is tax burden is always highest in the middle class.

BTC has a current valuation of over 2.1 trillion and a daily trading volume of almost 60 billion, that is an asset class that is hard to ignore.

it is decentralized and trades 24 hours a day.

Regards,
 
edwest4 said:
"decentralized" means what? Individuals setting up their own private banks?
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In this context it means that the 'ledger' of transactions is distributed rather than held within a (for example) single bank/entity/whetever
 
Dew said:
In this context it means that the 'ledger' of transactions is distributed rather than held within a (for example) single bank/entity/whetever
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When FTX fell apart, attorneys for those who put money in called them "unsophisticated investors." And that they were using it "like a bank." In 2023, there were over 9,000 currencies. There is no physical "product."
 
I think you're conflating currencies and exchanges here. FTX was an exchange. The 'decentralized' which you were querying bears no relevance to the exchanges and refers to the mechanism, so-to-speak, of the (crypto) currency. I feel I'd rather not continue in this discussion, with repsect.
 
A lot of people who invested in craptocurrency, want to "Emperors new clothes" more idiots to continue the Ponzi scheme and get them their Buck Dodgers.

I appreciate the opinion.

No, not a chance.

Not even with a very big elastic band.....
 
FTX was incorporated in Antigua and Barbuda and headquartered in the Bahamas, there is your first flag. Also, it had its own trading arm.

The global stock market is one big Ponzi scheme and always needs new money to keep it going. Massive overvaluations and over the top PE's ratios that are unstainable. And never-ending financial engineering creating new derivates to get funds in.

Benie Madoff was supposedly investing in physical products for almost 20 years and that turned into the biggest Ponzi scheme in history. 65 billion!!!

Why would you not want your own private back? The FDIC (USA for instance) insures deposits based on various factors. Normally up to 250k. You have any more than that and you waiting 10 years on the creditors list.

Australia is 250k and again if you had 1 million, you're going to waiting a long time and getting a big haircut.

The incoming US team is looking to gut the FDIC.

So yes, I would definitely want my own bank.

Regards,
 
The latest news on SBF...


Imprisoned crypto fraudster Sam Bankman-Fried reportedly landed in solitary confinement after he praised the GOP in a jailhouse interview with Tucker Carlson in an apparent ploy to win a pardon from Donald Trump.

Bankman-Fried ended up in solitary after he failed to obtain permission for the interview from the Federal Bureau of Prisons, The New York Times reported Friday. The interview took place on a video call in a side room of the Brooklyn Metropolitan Detention Center on Thursday, which was Bankman-Fried’s 33rd birthday.
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In my opinion, anything that carries the word crypto is something completely alien to current legislation, although it can be an acceptable mechanism to avoid obsessive taxation practiced for social engineering purposes. The question: is this a resistance movement against the excesses of socialism or is it a gigantic scam with the sole purpose of taking a few zeros off the U.S. debt?
 
I doubt it has anything to do with taking any zeros off the US debt, more to the point will probably add some.

With the dismantling of the https://www.consumerfinance.gov/complaint/ by the current administration the financial markets are going back to the wild, wild west.

Scream if you want to go faster..................

Regards,
 
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