The Bitcoin/Crypto Thread
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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.
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@89th said in The Bitcoin/Crypto Thread:
I honestly plan on checking mine in 10 years.
and then:
about a month later
@89th said in The Bitcoin/Crypto Thread:
Crypto is having a nice few days
LOL (Just tease you 89)
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Hahaha totally fair! I haven't checked my balances, I just saw some charts in headlines that show a bit of an upward trend.
Anyway, @LuFins-Dad will let me know when SHIBA goes to the moon, then I'll sell. I think I have 26 million SHIBA coins.
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@89th said in The Bitcoin/Crypto Thread:
Hahaha totally fair! I haven't checked my balances, I just saw some charts in headlines that show a bit of an upward trend.
Anyway, @LuFins-Dad will let me know when SHIBA goes to the moon, then I'll sell. I think I have 26 million SHIBA coins.
I have 39 million SHIBA coins.
Current price:
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I’m listening to the new Michael Lewis book about SBF/FTX.
It’s fascinating.
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My Crypto balance is +1130% over Dec 22, 2022…
And it’s still down 20% overall…
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I know this has been talked about through this thread, but I just don't get crypto. To me it is like the tulip craze in Nederlands.
I have a friend who is a crypto fan and challenged him to live off of crypto for one month and I will do the same with USD. But, he would actually have to convert crypto into goods directly. He couldn't convert to "money" first.
He declined.
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@taiwan_girl said in The Bitcoin/Crypto Thread:
To me it is like the tulip craze in Nederlands.
And still she says she doesn't understand cryptocurrency. So modest!
