[Finance] The cryptocurrency (Bitcoin etc) thread

[Tyrone Biggums]

there's a ton of mud slinging, dont fall for the "blame everything on SBF". there are other bad actors, Luna collapse was on Luna and the people around it. theres a theory floating that there was a takedown of 3AC, also that FTX had to bailout Alameda... kinda dumb to do a take down and burn yourself.

the more credible theory is the Luna blowup affected Alameda more than they let on, FTX bailout left a hole in its own fund went unknown, some sus onchain transfers last month alerted others to the reality. then CZ chucked in a grenade, probably not realising just how bad the situation was. SBF/Alameda have been syphoning off funds, to cover bad trades, Luna/general market fall and failed investments in tradfi (Alameda made alot of VC investments).

oh and $40m donations to Democrates, $20m donation to Republicans along the way. and a ton of other flows, SBF was spaffing money all over the place.

I don't think Wendy is necessarily mudslinging. I think people high up at other projects probably knew shifty shit was going on but to protect their own assets from being targeted they kept quiet and to see where the regulation regarding crypto was going.

They seem to have found out that SBF was nothing more than a Government stooge and was plotting against his rivals with the Government through regulation. He was in the ear with the Feds and that was the straw that broke the camel's back for someone like CZ, so they went after him and brought him down. CZ threw that team decentralised grenade on behalf of more than just Binance.

40 million to the party that outright hates you and wants to regulate you into the ground. Strange investment to be honest.

 

[RandyWanger]

Some interesting theories around FTX, Ukraine and the Democrats online.

 

[beorhthelm]

40 million to the party that outright hates you and wants to regulate you into the ground. Strange investment to be honest.

still ignoring the sponsorship of Republicans at same time.

 

[Tyrone Biggums]

still ignoring the sponsorship of Republicans at same time.

The Party that actually was far, far more positive in its approach to crypto?

Yeah highly surprising they didn't get more than the anti-crypto party don't you think?

Nothing suspicious there...

 

[Tom Hark Preston Park]

I don't think Wendy is necessarily mudslinging. I think people high up at other projects probably knew shifty shit was going on but to protect their own assets from being targeted they kept quiet and to see where the regulation regarding crypto was going.

They seem to have found out that SBF was nothing more than a Government stooge and was plotting against his rivals with the Government through regulation. He was in the ear with the Feds and that was the straw that broke the camel's back for someone like CZ, so they went after him and brought him down. CZ threw that team decentralised grenade on behalf of more than just Binance.

40 million to the party that outright hates you and wants to regulate you into the ground. Strange investment to be honest.

Well CZ is currently trying the exact same twitter tactics with Crypto.com as he did with FTX last week. Seems to be working too. Could be interesting if one of World Cup sponsors does a collapso just as the tournament opens. What fun!

 

[Tyrone Biggums]

Well CZ is currently trying the exact same twitter tactics with Crypto.com as he did with FTX last week. Seems to be working too. Could be interesting if one of World Cup sponsors does a collapso just as the tournament opens. What fun!

As soon as Crypto.com came on the scene people were red flagging it so that one wouldn't actually be a shock if it went under.

 

[DJ NOBO]

Anyone buying at the moment ?
I was close first thing this morning before a fairly decent revival.

 

[beorhthelm]

Anyone buying at the moment ?
I was close first thing this morning before a fairly decent revival.

not yet, its time to look at stronger options, those that have faired better and probably have strong support. avoid anything Solana related, will all burn.

 

[sparkie]

Some interesting theories around FTX, Ukraine and the Democrats online.

Do they involve the legend of Hunter Biden's sodding laptop ?

Lol.

 

[pb21]

Do they involve the legend of Hunter Biden's sodding laptop ?

Lol.

I've seen some conspiracy types suggest Sam Bankman-Fried was part of a secret international paedophile network, that he was publicly advertising to everyone via his twitter profile picture.

I'm sure that they will be able to shoehorn in Hunter Biden's laptop, and likely the pizza eating Hilary Clinton too.

 

[pb21]

Anyone buying at the moment ?
I was close first thing this morning before a fairly decent revival.

not yet, its time to look at stronger options, those that have faired better and probably have strong support. avoid anything Solana related, will all burn.

Based on all my crypto Twitter TA it seems likely, to me, that it will go much lower yet, down to $10k to $14k...

Might put some spare cash into BTC then, not that I have much.

Will be putting zero to negligible amounts into anything else.

 

[beorhthelm]

Based on all my crypto Twitter TA it seems likely, to me, that it will go much lower yet, down to $10k to $14k...

Might put some spare cash into BTC then, not that I have much.

Will be putting zero to negligible amounts into anything else.

yeah block from Nov 2000 is the obvious next support 12.7k-14k, still unclear if it will go there or stay here. i think there will be a lot more focus on the flaky projects, money will move to quality (that doesn't leave). infrastructure and defi, then game related (as a longer term next cycle play).

 

[Tom Hark Preston Park]

might be the end for crypto, at least in its current guise. the mainstream finance have cottoned on to the fact that valuations are based off the values of project's self-created tokens.

also the LBRY judgement gone under the radar, nearly all tokens will be securities under that interpretation, so all pet projects will become regulatated, exchanges drop them to avoid compliance. maybe relying on dexes more, either way its going to be a long winter here.

Get the feeling that CZ has created this FTX shitstorm to deflect attention from the LBRY judgement, which will have way more serious implications for the crypto sector in general, and for CZ in particular

 

[beorhthelm]

Get the feeling that CZ has created this FTX shitstorm to deflect attention from the LBRY judgement, which will have way more serious implications for the crypto sector in general, and for CZ in particular

wouldnt agree on the reason (there's enough competitive rivalry for CZ action), though agree that LBRY judgement has been way under reported.

 

[beorhthelm]

and expect to see the LBRY judgement popup in the XRP case, that'll give it more focus. similar issues of pre-mine, holding by team/org and initial lack of utility are related.

 

[Tom Hark Preston Park]

My favourite post on r/Buttcoin today

 

[basque seagull]

screwing over the people committed to decentralisation

Why would CZ give a sh*t about defending those people when he owns a centralized exchange (Binance) and a centralized smartchain (BSC)? He was just defending his own interests!!

 

[Sirnormangall]

I've seen some conspiracy types suggest Sam Bankman-Fried was part of a secret international paedophile network, that he was publicly advertising to everyone via his twitter profile picture.

I'm sure that they will be able to shoehorn in Hunter Biden's laptop, and likely the pizza eating Hilary Clinton too.

I’m probably not the first to say that we’ve all been waiting a long time to see a bank man fried. Isn’t crypto just a giant ponzi scheme built on sand or does it have a sustainable future?

 

[Tyrone Biggums]

Why would CZ give a sh*t about defending those people when he owns a centralized exchange (Binance) and a centralized smartchain (BSC)? He was just defending his own interests!!

The decentralised in this case refers to not being swamped with Government regulation.

The whole point of crypto when it began.

CZ didn't like how SBF was balls deep with the Feds.

 

[Tyrone Biggums]

Are you feeling a little crosspatch because you lost most of your money in your very very clever "investments"...?

I didn't use FTX, if you knew shit about crypto you'd know it didn't offer many of the crypto projects people were interested in.

So no point in using it hey peanut.