Bitcoin Thread

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Sensorei said:
CZ will save the day. That's barely 1% of his net worth. A nice panic selloff to buy the fear, and then fomo bounce when CZ announces that everything is fine.
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It is not about his net worth. The last thing he would want is the US placing BNB/BUSD in their sights and argue that it is a security. Then it is Ripple’s XRP all over again. The US may be warming up to XRP and ADA, but BNB isn’t American. They are already under investigation, but this gives the US ammunition to double-down.

Anyhow, CZ is not all too happy with the news being reported,

https://twitter.com/x/status/1578628384737099776

though I don't know to which extent Binance is controlling the damage. This is what CZ reported what happened,

https://twitter.com/x/status/1578171072067031042

An exploit on a cross-chain bridge, BSC Token Hub, resulted in extra BNB. We have asked all validators to temporarily suspend BSC. The issue is contained now. Your funds are safe. We apologize for the inconvenience and will provide further updates accordingly.

BSC Token Hub is the bridge between BNB Beacon Chain (BEP2) and BNB Chain (BEP20 or BSC).

The current impact estimate is around $100m USD equvilent, about a quarter of the last BNB burn.

This reddit post contains a bit more detail.

https://www.reddit.com/r/bnbchainofficial/comments/xxjkpy
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this morning it was still down though. I hope they get it all sorted, since well, I like the utility.
 
For the Kadena holders and Ledger owners. Ledger announced yesterday that their Kadena app is currently in the development stages.

Finally.
 
This is big,

www.cnbc.com

Google selects Coinbase to take cloud payments with cryptocurrencies and will use its custody tool

By lining up a broad deal with Coinbase, Google might pick up an edge against Amazon and Microsoft by letting clients pay with Bitcoin or other digital coins.
www.cnbc.com www.cnbc.com

Google selects Coinbase to take cloud payments with cryptocurrencies and will use its custody tool​


Google said Tuesday that it will rely on Coinbase to start letting some customers pay for cloud services with cryptocurrencies early in 2023, while Coinbase said it would draw on Google’s cloud infrastructure.

The deal, announced at Google’s Cloud Next conference, might succeed in luring cutting-edge companies to Google in a fierce, fast-growing market, where Google’s top competitors do not currently permit clients to pay with digital currencies. The cloud business helps diversify Google parent Alphabet away from advertising, and it now accounts for 9% of revenue, up from less than 6% three years ago, as it is expanding more quickly than Alphabet as a whole.
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Now the question is which cryptocurrenices/tokens will be supported by Google through Coinbase? Not that I would use it, but to pay in crypto you would need to acquire crypto.
 
Fulcrum29 said:
Now the question is which cryptocurrenices/tokens will be supported by Google through Coinbase? Not that I would use it, but to pay in crypto you would need to acquire crypto.
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Coinbase Commerce facilitates payments with 10 diffferent cryptocurrencies right now. So probably starting with the major one's of those. Those being:

Bitcoin, Bitcoin Cash, DAI, Ethereum, Dogecoin, USD Coin, Litecoin, Tether USD, ApeCoin, and Shiba Inu

Apecoin having the biggest potential for a big spike in growth since it has the smallest mcap by far. No Solana there, hmmm.
 
Love Me Tender said:
With enough data they can map out and identify owners of crypto wallets...
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So watch the data you put out there. If you want financial privacy stick to exchanges without KYC like ByBit and Kucoin and send profits that you plan to cash out to a different wallet than the wallet you send long term hold profits. Then only use that wallet with non-KYC exchanges. SImple.
 
Sensorei said:
So watch the data you put out there. If you want financial privacy stick to exchanges without KYC like ByBit and Kucoin and send profits that you plan to cash out to a different wallet than the wallet you send long term hold profits. Then only use that wallet with non-KYC exchanges. SImple.
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100% keep it simple and be smart
 
Another hack... They say oracle price manipulation. I am curious what is going to be explained to the public since this happens to be on Solana. I think Mango uses the Serum protocol, but I am unsure.
 
Sensorei said:
Coinbase Commerce facilitates payments with 10 diffferent cryptocurrencies right now. So probably starting with the major one's of those. Those being:

Bitcoin, Bitcoin Cash, DAI, Ethereum, Dogecoin, USD Coin, Litecoin, Tether USD, ApeCoin, and Shiba Inu

Apecoin having the biggest potential for a big spike in growth since it has the smallest mcap by far. No Solana there, hmmm.
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Yep, was wondering why Shiba and no Solana...
 
So who's long and who's short?

Tomorrow's CPI data is going to cause a sh*tstorm in the markets. The leverage to spot ratio is at an all time high and the long:short ratio on $BTC is around 2.5:1. Having a big position open here seems way too much like gambling. The long squeeze from bad news could bring the capitulation God Candle bears have been waiting for.

BTC-Leverage.png

longs-shorts.png
 
For those who use FTX and 3Commas,

www.theblock.co

FTX API keys connected to 3Commas confirmed to have been exploited

3Commas and FTX found that API keys linked to the former were used to conduct unauthorized trades for DMG trading pairs on the latter.
www.theblock.co www.theblock.co

FTX API keys connected to 3Commas confirmed to have been exploited​

  • An investigation by 3Commas and FTX concluded that unauthorized trades were conducted for DMG trading pairs on the crypto exchange.
  • 3Commas said the exploited API keys probably resulted from phishing attacks or hacks, and did not originate from its platform.
An investigation conducted by trading-bot platform 3Commas and cryptocurrency exchange FTX revealed that API keys linked to the former were used to conduct unauthorized trades for DMG trading pairs on the latter.
The 3Commas team was alerted to the incident on Oct. 20, when various FTX API keys connected to the platform were used to perform unauthorized trades.

The API keys were not taken from 3Commas and were probably obtained from a third-party phishing attack or hack, the platform said in an official blog post.
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For those using any exchange and any trading bots. Be wary: API keys have never been immune to exploitation. Then again, neither are smart contracts immune to unauthorised access :whistling:
 
www.coindesk.com

UK Lawmakers Vote to Recognize Crypto as Regulated Financial Activity

The lower house of the parliament voted in favor of adding crypto assets to the scope of activities to be regulated via the proposed Financial Services and Markets Bill – which already seeks to extend payments rules to stablecoins.
www.coindesk.com www.coindesk.com

UK Lawmakers Vote to Recognize Crypto as Regulated Financial Instruments​

The lower house of the Parliament voted in favor of adding crypto to the scope of activities to be regulated via the proposed Financial Services and Markets Bill – which already seeks to extend payments rules to stablecoins.​

Click to expand...
 
Fulcrum29 said:
www.coindesk.com

UK Lawmakers Vote to Recognize Crypto as Regulated Financial Activity

The lower house of the parliament voted in favor of adding crypto assets to the scope of activities to be regulated via the proposed Financial Services and Markets Bill – which already seeks to extend payments rules to stablecoins.
www.coindesk.com www.coindesk.com
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This was pretty much inevitable. My own uses of crypto (as a trading instrument and investment) make it easier if it is clear on the basis on which I have to deal with the tax man.
 
techcrunch.com

Google Cloud gets into web3 act with managed blockchain node service | TechCrunch

Google Cloud got into the web3 act today when it announced a fully managed blockchain node service to handle node creation and management.
techcrunch.com techcrunch.com

Google Cloud gets into web3 act with managed blockchain node service​

Five years ago the blockchain was blossoming in the enterprise, or so many companies had us believe. Back then, companies like SAP and IBM were trying to build blockchain practices, but while the technology sounded good to solve myriad problems in the enterprise, it never really took off.

Fast forward to 2022 and the blockchain comes under a new guise with the name web3 as an umbrella term and lots of VC money behind it. So perhaps it shouldn’t come as a surprise that the cloud platform companies want to get into the act.

To that end, Google Cloud announced today that it’s launching Blockchain Node Engine, which it’s billing as “a fully managed node-hosting for web3 development.” Earlier this year, the company announced that it was launching a new team dedicated to digital assets, and this tool is part of what has come out of that team’s work.


In a blog post announcing the new service from Amit Zavery, GM and VP of engineering and platform and James Tromans, director of cloud web3, the two wrote that blockchain nodes have to work hard, constantly exchanging the most recent blockchain data, so that all nodes stay in sync. It’s a data- and resource-intensive process.
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Not long now until other hosts become crypto hospitable. Big move by Google, pushing this. Many are against hosting nodes.
 
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