The Bitcoin/Crypto Thread
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Been a little bit of a rally the last couple of weeks. My meager holdings are up about 7% since the New Year.
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This is nuts. My “holdings” are now worth 3 times what they were 2 weeks ago.
The Brad
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Of course, that’s still 1/6th of what I put in…
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Of course, that’s still 1/6th of what I put in…
I'm sorry you're going through this. It must be really tough for you. It's important to remember that investments are always a risk and that this doesn't define your worth as a person.
It's natural to feel upset and disappointed, but try to focus on the lessons you've learned from this experience and how you can use them to make better decisions in the future. Remember that money is not everything, and that you still have many other things to be grateful for in your life.
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This is nuts. My “holdings” are now worth 3 times what they were 2 weeks ago.
@LuFins-Dad said in The Bitcoin/Crypto Thread:
This is nuts. My “holdings” are now worth 3 times what they were 2 weeks ago.
Relatively stable week… Overall posted a 10% gain but at times I was down as much as 10%. And that’s a stable week in Crypto. Weird.
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https://www.reuters.com/legal/self-proclaimed-bitcoin-inventors-25-bln-lawsuit-can-go-trial-london-court-2023-02-03/
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The [court] ruling paves the way for a trial on whether developers owe duties to the owners of digital assets – which a lawyer representing some developers said could pose a fundamental challenge to decentralised finance if Wright [the plaintiff] won.
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Australian computer scientist Wright [who claims to have published the 2008 Bitcoin paper as Satoshi Nakamoto] is suing 15 developers in an effort to retrieve around 111,000 bitcoin – currently worth about $2.5 billion – after he lost the encrypted keys to access them when his home computer network was allegedly hacked.
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Maybe our @copper is the real "inventor" of bitcoin. And the money he will get back from Google is just the start.
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Ordinals, a controversial new protocol deployed on Bitcoin, enables non-fungible tokens (NFTs) to be appended to Bitcoin transactions, effectively bringing NFTs to the largest crypto network by market capitalization.
Launched in January, the Ordinals project enables images and other types of data to be inscribed directly on satoshis (the smallest denominational units of Bitcoin - each is worth 0.00000001 BTC) on the Bitcoin blockchain without requiring a separate sidechain or token. JPEG images, new profile picture (PFP) projects, digital art, and even the 1993 first person shooter video game DOOM have been inscribed on Bitcoin using the Ordinals protocol.
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New York Financial Services Department ordered that the issuance of new Binance USD (BUSD) stable coin be stopped.
It also mentions that the SEC may sue the issuer after labeling the BUSD an "unregistered security."
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https://fortune.com/crypto/2023/02/22/binance-stablecoin-cash-grab-customers-funds/
Shenanigans at Binance -- converting customers's USDC to BUSD without telling the customers. Value-wise, both are pegged to the USD so the customers are not losing money. Still, it's bad form to convert customers' assets without telling the customers.
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https://www.axios.com/2023/06/10/cryptocurrency-ban-us-illegal
The U.S. government seems to have decided to kill the crypto ecosystem.
...- "Rather than creating a new legal and regulatory framework that legitimizes crypto, we should simply let it burn."
The bottom line: The crypto industry is burning down, and the SEC is pouring gasoline on the fire. Congress seems to be perfectly happy to stand alongside crypto skeptics and watch the fire burn.
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Seems like the headline writer and the writer on the article are on two different planets.
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So I opened my Crypto app for the first time in 4 months, and found the balance had grown 600% since I last saw it…
Still negative, though.
