Bitcoin Thread

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Been busy bois,

crypto-pump-pump-it.gif
 
Generally, I think crypto has reacted positively to the US's remarks yesterday. I still think BTC is going to be tested in Q4. Don't know, recession looms and people would want liquidity.

ETH 2.0 will also lock up capital.

As always, crypto remains too volatile to be an expert on.
 
Fulcrum29 said:
Generally, I think crypto has reacted positively to the US's remarks yesterday. I still think BTC is going to be tested in Q4. Don't know, recession looms and people would want liquidity.

ETH 2.0 will also lock up capital.

As always, crypto remains too volatile to be an expert on.
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Or at least, too volatile for a prophet to retain credibility for long. On the other hand, it makes for good entertainment for tiny trades.
 
Also, about time,

watcher.guru

Terra: South Korea issues Arrest Warrant Against Do Kwon

Regulators around the world have been carrying out investigations on Terraform Labs, its executive Do Kwon.
watcher.guru watcher.guru

Terra: South Korea issues Arrest Warrant Against Do Kwon​

Regulators around the world have been carrying out investigations against Terraform Labs, Founder Do Kwon, and other related parties. Earlier this year, Terra [LUNA] and its native stablecoin UST, shed most of their value. This resulted in massive losses for investors. The same had a ripple effect on the broader ecosystem, and the market—on a whole—became choppy.

Per the latest development, South Korean authorities have issued a warrant for Do Known, indicating that they intend to arrest the Terra founder. A recent Bloomberg report noted:

“The court in Seoul issued a warrant for Do Kwon and five others, according to a text message from the prosecutor’s office.”
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Fulcrum29 said:
Also, about time,

watcher.guru

Terra: South Korea issues Arrest Warrant Against Do Kwon

Regulators around the world have been carrying out investigations on Terraform Labs, its executive Do Kwon.
watcher.guru watcher.guru
Click to expand...
Removing criminals and making crypto businesses and projects safer for participants is essential for the space as a whole and of course, bitcoin as the leading cryptocurrency. However, actions of the Office of Foreign Assets Control (OFAC) of the US Treasury in sanctioning individuals and government offices as Specially Designated Nationals shows that there is some way to go for the dreams of complete freedom from government control are still some way off. ['U.S. persons and entities (i.e. those listed in the SDN) – meaning anyone on American soil or any U.S. citizens abroad – are barred from transacting with the addresses or people added to the sanctions list.'] For example, a few Iranian nationals and the Iranian Ministry of Intelligence and Security were recently sanctioned. (See Nikhilesh De, Danny Nelson Sep 14, 2022, CoinDesk.)
 
Adenoid Hynkel said:
I see a lot of GPUs for sale on Carbonite.
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Isn’t that the case per the usual? The same GPU dump happened with every crypto down pressured bear market. I picked up my GPU when a crypto miner called it quits only to miss the 2021 boom. I know a local mining operation that won’t be mining this and next week.

The current crypto mining situation could take a week to a month to stabilise. There are still miners who are buying GPUs, I know that, and they are happily provided to by the distribution chain. Just because ETH has gone PoS, doesn’t mean that its liquidity can’t go elsewhere. The ETH which is staked in 2.0 will be locked up and won’t be available until late 2023.

Yes, many will give up since mining is operating at a loss now, but some will endure with spec mining. Ergo can still become very valuable, and so can Flux. New crypto, with good and viable use cases, do pop up. There was Kaspa, and not too long ago there was Neoxa. However, no, small miner will be able to compete against the ASICs at this point.

Do use this opportunity to buy a used GPU should you wish so, but those saying that The Merge ended GPU mining are only saying so because it is popular to say so. There is no indication that GPU mining is culled. PoUW, when ready, will change the entire mining landscape. The question at this time is what is going to happen with the ETH-derived liquidity? This and next month will be telling.

Not to ignore, there is a recession which is looming. Money is going to leave both the traditional and crypto markets. Ironically, when people are too liquid they tend to spend more than they can. Good time to invest.
 
I guess ETHW is going to be supported. I don't support it at all, and neither do I like Ethereum Classic. People should support cryptos with valid utility and that which is scalable.

ETHW is already going live on the mining pools. Ugh. In the end, this will only cause division amongst the ETH crowd, because ETHW have zero adoption at this point in time unless they pull in the layer 2 builders.
 
Ouch!!!

https://twitter.com/x/status/1578140914283065344

I am curious where this exploit has happened. I would think that something like this would hurt BNB, but as can be seen with Solana... eh. The question is whether this amount was staked or sitting idly somewhere, but my stomach tells me that some staking mechanism which was weakly secured is the culprit here, or perhaps a credential hack but that would by large be an error on the holder’s side.

Anyhow, best to wait on the news reports.
 
Fulcrum29 said:
Ouch!!!

https://twitter.com/x/status/1578140914283065344

I am curious where this exploit has happened. I would think that something like this would hurt BNB, but as can be seen with Solana... eh. The question is whether this amount was staked or sitting idly somewhere, but my stomach tells me that some staking mechanism which was weakly secured is the culprit here, or perhaps a credential hack but that would by large be an error on the holder’s side.

Anyhow, best to wait on the news reports.
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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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