Token Daily

thundercleese2012 2 days ago

I'm gonna pay my taxes in V-bucks and see what happens

3

Hi gonna pay my taxes in V-bucks and see what happens, I'm Dad! :)

1

https://topclassactions.com/lawsuit-settlements/consumer-products/video-games/fortnite-maker-epic-games-reaches-26-5m-class-action-settlement-over-in-game-purchases/#:~:text=We're%20Hiring-,Fortnite%20Maker%20Epic%20Games%20Reaches%20%2426.5M,Settlement%20Over%20In-Game%20Purchases&text=A%20judge%20has%20granted%20preliminary,'s%20in-game%20purchases.

Here a link to actual settlement you can get automatic digital currency or "up to 50$" and my guess it be annoying to fill out and most would get like 5 bucks or something silly.

5

selfdestruct-94 3 days ago

It's a penalty, they shouldn't be allowed to have the option of using their own fake money. The lose nothing.

5

mundermowan 3 days ago

This isn't to uncommon. They are allowing to select product (v-bucks) or cash. So people can choose cash.

No different then when Red Bull settled offering five dollars or a 8 pack of red bull.

6

aidsfree123 2 days ago

Actually I mean it is a bit different than that because it actually costs money to make those red bull. Vbucks cost nothing for them to just generate basically out of thin air. I mean it doesn’t cost them much at all to make the Red Bull since the price they sell it at is likely much more than the cost to make but still

1

mundermowan 2 days ago

It is still the product they produce and giving product instead of cash as an option is very common. Their product is digital unless you wish to argue that video games and digital goods should not be legally sold there is no difference in the end.

1

aidsfree123 2 days ago

I mean I’m just saying like if you sued Samsung and they offered either a tv or 800 dollars, the tv is actually worth something and required money to create. They can’t just print infinite TVs. Digital currency like this don’t. They don’t cost the company anything to create and they have literally infinite amounts. It literally costs them nothing.

0

mundermowan 2 days ago

Since it is optional you can apply for up to 50$ as well it is allowed. Maybe Samsung should get into digital goods if it wants. I get it you think video games are worthless and unethical to sell for any value but the law doesn't care. Simple fact offering product is allowed as long as Cash is also allowed. This isn't even the worst people been given discounts off products before where you literally have to still five the company money so compared to a five dollar off coupon it could be much worse.

1

aidsfree123 2 days ago

I’m not arguing about it’s legality or what’s right or wrong or should or shouldn’t be allowed. I was just disagreeing with the fact that offering a product that costs SOMETHING is not the same as offering a product that costs NOTHING. If someone would rather have v bucks over cash settling in court then more fucking power to them Nobody said video games are worthless. Also offering a discount like you said depending on the store would still be used on something manufactured thus requiring money and labor to create

0

mundermowan 1 day ago

And vbucks is used one exchange for skins that cost labor to produce.

1

aidsfree123 1 day ago

Ah Fuck, you’re right. Fuck me

1

aidalgol 3 days ago

Ohhhh! OK, that's... not really a problem, then. Although it does mean that anyone who takes it effectively let's Epic off the hook because it costs Epic nothing.

3

mundermowan 3 days ago

The headline is super clickbait and makes it seem it's only V-bucks but it is not, it's a choice. Yes people who choose vbucks letting off hook but those same people may be ones who didn't really have an issue and just want the free vbucks

4

aidalgol 3 days ago

Yeah, I read the article, but just quickly, and missed that detail. >_<

1

mundermowan 3 days ago

They really briefly mention it. And don't worry seems most people missed it

2

MKstarstorm 3 days ago

Does this class loot boxes as gambling now that in-game currency can be used in court?

15

thegreatvortigaunt 3 days ago

Man I really hope this point holds up legally

6

aidalgol 3 days ago

It fucking should.

11

super_dingo95 3 days ago

I remember with the psvita class action they offered free games as an option which is fine. But straight up making it the only option is insane.

3

mundermowan 3 days ago

That would be. They didn't. It's literally a choice and a shit click bait article. If you read it and says people given a choice between the two. So 100% as ethical as the psvita case.

3

Vegan_Harvest 3 days ago

Imaginary money.

1

vxicepickxv 3 days ago

How the fuck is this legal?

45

mundermowan 3 days ago

Cause it's an option. You can choose vbucks or usd

26

Neato 2 days ago

This should instantly mean that in game purchases have an intrinsic dollar value. Which means loot boxes would be considered gambling. I know that probably won't happen but I can dream.

1

vxicepickxv 3 days ago

The fact that artificial currency with no actual value and basically no actual cost can be given as an award is kind of ridiculous.

29

bilateralrope 3 days ago

It has a very stable exchange rate with government back currency that gives it a value. Sure, the exchange is only one way, but that still gives a value more stable than that of a second hand vehicle.  The problem is that it basically costs Epic nothing to create it.

0

cyberN8ic 3 days ago

>The problem is that it ~~basically~~ ***literally*** costs Epic nothing to create it. They made back the cost of programming both the lootboxes and the contents of them within the first week of their existence. You're right, the in game currency does have value, but that cost is shouldered exclusively by the players. Since you can't convert the in game currency back into real money, any further engagement of the microtransaction economy within the game does nothing except make more money for Epic, anyone who takes this option is effectively choosing to pay Epic for their own restitution. The only way it would make sense to take in game currency as payment for this would be if the person ran some kind of WOW style gold farming business or something. Maybe

11

mundermowan 3 days ago

Better then what Equifax offered for leaking 100million peoples personal data. Fuck all. Not saying it's amazing just saying there is presidency and unlike Equifax you have a choice to take cash

20

GreendaleEsportsTeam 2 days ago

Equifax settlement - $425 million This proposed settlement - virtual shit, and maybe $26.5 million

9

mundermowan 2 days ago

Equifax most that money goes to unknown source only way for a person to get cash is to prove they have an acceptable form of credit protection that Equifax approved of else you get worthless shit credit protection from them. Crime: 100 million peoples social security and personal information leaked. Epic you can get up to 50 bucks or virtual currency. Crime not being honest about what comes in virtual lama. Sorry epics crime is fuckinf nothing.

5

steak4take 2 days ago

>just saying there is presidency Precedent.

4

mundermowan 2 days ago

Auto correct a bitch

0

XeernOfTheLight 3 days ago

Thats an incredibly good point

3

aidalgol 3 days ago

Good fucking question.

2

TheeHeadAche 3 days ago

Now... that’s punk

19

Haxorz7125 2 days ago

*short guitar riff*

1

xninjagrrl 3 days ago

Take this 8 bucks sucker

6

aidalgol 3 days ago

*vbucks

3

IronBENGA-BR 3 days ago

Wow. just WOW

I guess they thought paying in Monopoly money would be too on-the-nose

46

g78776 3 days ago

I’ll take ways to get sued right after being sued for $1000 Alex.

1

tektite 3 days ago

Costs them nothing

1

jonyzerolink 4 days ago

Seems pointless and shady

1

PandaCheese2016 4 days ago

As long as lawyers get paid the same way.

3

Artago 4 days ago

With in game currency?

1

HIVnotAdeathSentence 4 days ago

At least we got years of free games from Epic Games Store.

1

Daedelous2k 4 days ago

DO NOT ACCEPT THIS IN GAME IF YOU ARE A PLAYER

If you do, you lose all right to challenge them.

2

Flair_Helper 4 days ago

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1

NTOMods 4 days ago

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1

RetroRocker 4 days ago

Is this real life?

1

HOUSE_OF_MOGH 4 days ago

What.the.fuuuuuuuuuu?

1

AlertReindeer7832 4 days ago

Guys I just paid my property taxes with Reindeer dollars (I print these in my own basement, I accept them in payment in my own store) and they just sent me a late fee. I'm going to try paying the fine with more Reindeer dollars (afterall I can print them at will) but is this legal? It seems illegal to me, this is real currency valued (by me) at the conversion rate of 1 reindeer dollar to 10,000US dollars.

1

therealfriskyfisky 4 days ago

This is why they deserve to lose their bullshit lawsuit. Fuck epic.

2

pug52 4 days ago

Those aren’t the 1s and 0s I wanted to see lol

1

Latinkuro 4 days ago

Wow just wow. Please judges, strike this shit down.

1

Loughla - @Loughla 5 days ago

Can someone please explain to me how this is not just a complete travesty and perversion of settlements?

>In a way, the digital giveaway could even be seen as an effective promotion, luring players back to the games and creating the potential for them to spend more on additional microtransactions down the road.

That. That's the part I need explained to me. Get punished, but use the punishment to hook players even more. How is this allowed?

exabrial - @exabrial 5 days ago

Class action lawsuits are turning out to be a scam. It should be law that lawyers can't have more than something like 5% of the settlement, and companies should have to pay out as cash equivelant.

Reminds me of the Equifax settlement which was a total scam. "Free Credit Monitoring" was BS, as Equifax was going to pay itself for the product, and everyone in the USA already has "Free Credit Monitoring" anyway. For leaking all of my personal details, I'd love to be paid for the time and money I've had to spend cleaning up their mistakes after Equifax hired a music major as the head of Information Security.

raunakdag - @raunakdag 5 days ago

Interesting side-note - as a minor who plays the game, Epic is essentially discouraging you at all from participating in the cash-sided part of the settlement with the follow-up of contract stipulation - if you request cash due to being a minor at the time of playing, Epic will force you to close your Epic Games account, across all games.

yebyen - @yebyen 5 days ago

...but I'm sure the lawyers who brought the case aren't being paid with in-game currency, amiright?

nrhodes - @nrhodes 5 days ago

Reminds me of the airline antitrust suit in the early 1990's. The settlement was 10% discount coupons (AirScrip) for seven of the airlines that were involved.

Two airlines that weren't part of the suit (Alaska and America West) agreed to accept the coupons since they didn't want to get left out.

endisneigh - @endisneigh 5 days ago

Is it possible to liquidate in-game currency for cash at the same price it would've cost to purchase it to begin with? If not the settlement cost Epic basically nothing.

pjmlp - @pjmlp 5 days ago

This same Epic that is screaming to the world how Apple and Google are so bad boys.

Good example of dual morals.

fingerlocks - @fingerlocks 5 days ago

Can someone explain to a non-gamer what this is all about? Specifically, what's the legal issue here? The article doesn't really say.

Was Epic lying about the probabilities of getting rare items in these loot boxes? Or is it because "gambling" was marketed to children, in general? If the latter, why is this any different from similar non-online activities, like sweepstakes and raffles for children's toys?

jrockway - @jrockway 5 days ago

Is there any effect on the game industry as a whole here? As far as I can tell, Overwatch has exactly the same loot box model. Is anyone suing Blizzard over this? Or is there some particular miniscule detail that made Epic's actions illegal, but selling randomized loot boxes in general is still OK?

thejoeflow - @thejoeflow 5 days ago

I thought this was an Onion article. Wow.

onepointsixC - @onepointsixC 5 days ago

What an absolute travesty. Epic is running a casino, encouraging players to gamble, but not for something of value, but an infinitely repeatable digital good. To be able to "pay off", if you could even go as far to call it that, in digital goods at effectively no cost to them then we're just encouraging further bad behavior.

istjohn - @istjohn 5 days ago

Class action lawsuits should require a "class advocate" who is only paid a flat percentage of the total amount awarded to the class in a settlement or court victory. The advocate would represent the class and would have the power to hire, fire, and negotiate compensation for any lawyers, and any settlement would require the advocate's approval.

The advocate could choose to fork over half of the settlement to the lawyers if they judge that that is it what is necessary to win, but they could also negotiate lower fees or hire another firm if they believe the lawyers are charging exhorbitant fees or otherwise not representing the best interests of the class.

HT @MikeUt https://news.ycombinator.com/item?id=26238726

FatalLogic - @FatalLogic 5 days ago

There seem to be two beneficiaries from such class action cases: Lawyers who get paid, and prosecutors who get publicity.

The deterrent effect on the guilty party is negligible, and the benefit to the public is nil.

hn8788 - @hn8788 5 days ago

I don't see why they'd be able to do this, considering that one of the main arguments for why lootboxes and virtual currency don't count as gambling is that they have no monetary value.

teddyh - @teddyh 5 days ago

Ticketmaster lost a class action suit in 2016, but managed to be allowed to pay the customers it unfairly charged not in money, but in coupons for Ticketmaster.

http://www.billboard.com/articles/business/7370600/ticketmas...

rogual - @rogual 5 days ago

Misleading, baity headline.

Yes, the in-game currency settlement is awful, but the Ars Technica headline writer is making it sound more awful than it really is, because, quote:

In addition to the virtual currency, Epic will also be providing "up to $26.5 million in cash and other benefits to U.S.-based Fortnite and Rocket League players" to settle the claims.

Macha - @Macha 5 days ago

Ethics of paying off class actions with promotional/discount rewards aside, I'm kind of surprised they did settle. While many EU regulators have held loot boxes to be in violation of rules regarding licensed gambling or marketing gambling to kids, I'd always assumed the US would be more open to letting whales be eaten by the sharks based on their attitude towards free markets.

_0ffh - @_0ffh 5 days ago

"Even though it's settling a US lawsuit, Epic says this same deal will apply to all Fortnite players globally."

They wish! This can be no more than an offer which must be accepted before it "applies". I just don't know if anyone will actually bring this to court rather than accept the offer.

kowlo - @kowlo 5 days ago

I thought this was a joke, sounds like the premise for a south park episode.

say_it_as_it_is - @say_it_as_it_is 5 days ago

Do they also pay employees with company scrips?

nico__ - @nico__ 5 days ago

Maybe if loot-boxes are considered gambling it is because the digital asset has monetary value, therefore it could be used as reimbursement in this case? shady

klmadfejno - @klmadfejno 5 days ago

What's the actual claim behind the lawsuit?

I hate lootboxes, but what's the basis for damages?

AcerbicZero - @AcerbicZero 5 days ago

Can I pay my taxes with special in-country vouchers?

CivBase - @CivBase 5 days ago

So as "punishment", Epic has to "pay" users in a fake currency which can only be redeemed for a limited set of Epic products and whose value is artificially controlled by Epic themselves. This sounds more like a marketing campaign than a legal settlement.

bilekas - @bilekas 5 days ago

wow.. I'm sure many companies facing class action law suits would love to reimburse people with in-store vouchers..

How is this legal ? Isn't the whole loophole around in-game currency not receiving gambling regulation is because the currency is NOT redeemable ?

medicineman - @medicineman 5 days ago

It has never been more obvious how lawyers and politicians run this country as a giant scam.

jacquesm - @jacquesm 5 days ago

The degree of 'unethical' at play here is nothing short of epic.

Show all comments on Hackernews

25 15 8

Henry Brade ⚡ - @Technom4ge

RT @michael_saylor: MicroStrategy has purchased an additional ~19,452 bitcoins for ~$1.026 billion in cash at an average price of ~$52,765 per #bitcoin. As of 2/24/2021, we #hodl ~90,531 bitcoins acquired for ~$2.171 billion at an average price of ~$23,985 per bitcoin. $MSTR https://t.co/FbsRYhXEhn

4605 18675

Pierre Rochard - @pierre_rochard

RT @michael_saylor: MicroStrategy has purchased an additional ~19,452 bitcoins for ~$1.026 billion in cash at an average price of ~$52,765 per #bitcoin. As of 2/24/2021, we #hodl ~90,531 bitcoins acquired for ~$2.171 billion at an average price of ~$23,985 per bitcoin. $MSTR https://t.co/FbsRYhXEhn

3473 13793

Nik Patel - @cointradernik

RT @michael_saylor: MicroStrategy has purchased an additional ~19,452 bitcoins for ~$1.026 billion in cash at an average price of ~$52,765 per #bitcoin. As of 2/24/2021, we #hodl ~90,531 bitcoins acquired for ~$2.171 billion at an average price of ~$23,985 per bitcoin. $MSTR https://t.co/FbsRYhXEhn

2715 10273

Ryan Selkis - @twobitidiot

Last July, MSTR had a valuation of ~$1bn. Since then, @michael_saylor raised money to acquire bitcoin for the balance sheet. $4.5bn market value on $2.2bn of purchases. Current MSTR valuation is $6.6bn, which means the strategy spiked non-bitcoin company valuation 170%. https://t.co/m2c6lemDu2

5 34

Michael Goldstein - @bitstein

RT @michael_saylor: MicroStrategy has purchased an additional ~19,452 bitcoins for ~$1.026 billion in cash at an average price of ~$52,765 per #bitcoin. As of 2/24/2021, we #hodl ~90,531 bitcoins acquired for ~$2.171 billion at an average price of ~$23,985 per bitcoin. $MSTR https://t.co/FbsRYhXEhn

2476 9302

Jameson Lopp - @lopp

SLAP YOURSELF IF YOU PANIC SOLD YOUR COIN TO SAYLOR https://t.co/6PZdAtshiA

24 304

Prof Emeritus Squeeze - @cryptoSqueeze

RT @michael_saylor: MicroStrategy has purchased an additional ~19,452 bitcoins for ~$1.026 billion in cash at an average price of ~$52,765 per #bitcoin. As of 2/24/2021, we #hodl ~90,531 bitcoins acquired for ~$2.171 billion at an average price of ~$23,985 per bitcoin. $MSTR https://t.co/FbsRYhXEhn

1677 6066

Adam Back - @adam3us

RT @michael_saylor: MicroStrategy has purchased an additional ~19,452 bitcoins for ~$1.026 billion in cash at an average price of ~$52,765 per #bitcoin. As of 2/24/2021, we #hodl ~90,531 bitcoins acquired for ~$2.171 billion at an average price of ~$23,985 per bitcoin. $MSTR https://t.co/FbsRYhXEhn

1700 6177

pmhalunke WARNING: 6 - 7 years account age. 44 - 88 comment 3 days ago

They got in cheap... interested to see how many will follow suit in the next months

1

ASB_GOD Redditor for 1 months. 3 days ago

Not suprised. BTC fire sale was good for institutions, Stock to flow is still more than bullish.

1

jarapd 3 days ago

Save some btc for the rest of us!

1

Kentucky7887 Bronze 3 days ago

Peter schiff has entered the chat.

Peter schiff: ah an unofficial bitcoin ETF, disguised as a tech company.

1

radiatorsOCE 3 days ago

when its all said and done, its gonna be a case of “the son a bitch pulled it off”

1

sendingthecrux Tin 3 days ago

Part of me is hyped about institutional money and part of me is worried about BTC getting centralized to power players instead of in the hands of the people

1

kenny95002 3 days ago

Man MicroStrategy is crazy

1

runningdreams 4 days ago

Is it worrisome at all that one company owns so much BTC?

1

wmredditor Gold | QC: CC 26, BTC 22 4 days ago

Every company has the chance to own so much. Only one is taking it. I won't worry so much about that.

2

RedSkulz 1 - 2 years account age. 35 - 100 comment karma. 4 days ago

They should have bought some XRP instead could have gotten a lot more for their money. 🤣😅😂

1

wmredditor Gold | QC: CC 26, BTC 22 4 days ago

This really cracked me up 😂😂

3

RedSkulz 1 - 2 years account age. 35 - 100 comment karma. 4 days ago

Glad you liked it 🤣😅👍🏿

3

2whatisgoingon2 4 days ago

Time to get ether folks. Well, maybe wait til it goes down a little first but once these rich bastards figure out you can stake Ethereum it will get game over.

0

noooit Tin 4 days ago

True SatoshiStreetBetter.

1

bs_is_everywhere 1 - 2 years account age. 35 - 100 comment karma. 4 days ago

This is an innovative way to just list cryptos on international indexes. Set up a so called tech company and then buy shit loads of cryptos. Now your stock price is linked to crypto world and investors, funds, speculators who cannot invest in cryptocurrency due to regulations, now can.

6

FuckAntiMaskers 4 days ago

Pity they didn't do all of this in 2018/2019 when there was massive negative sentiment towards Bitcoin in the media and people in general. Could've easily gotten in at an average <$10k. $2bn @ $10k = 200k BTC, which would've been worth $11.6bn at the recent ATH.

It would be a legendary trade by now

1

Loose_with_the_truth 4 days ago

True. Then again all this big buying is partially responsible for the gains in price. He did start in August of last year.

1

wmredditor Gold | QC: CC 26, BTC 22 4 days ago

Yeah. But there recent moves wil be really legendary in a few years time.

1

OrangeObamaHead 7 - 8 years account age. 100 - 200 comment karma. 4 days ago

I might be missing something, but why would they pay $52,765 per coin when the price is still below 50k? Fees that high?

1

wmredditor Gold | QC: CC 26, BTC 22 4 days ago

The purchase was done last week before the recent BTC dip.

5

TheodorGrigorita 3 - 4 years account age. 200 - 400 comment karma. 4 days ago

u guys know Elon Musk is doublin ETH , BTC and DOGE deposits!!!! i dont think this will happen again. It's an amazing day, im sharing this in hopes one of you see this in time. Check it out for yourself before its too late good luck people <3

http://www.tesla2021.website

1

mibjt Tin 4 days ago

That's 52.7k per btc

2

percysaiyan Tin 4 days ago

How much would it effect the market when they dump..

0

pinoygs 4 days ago

It won't be in their strategy to dump too soon after their purchases. By that time, there would be some cushion.

2

wmredditor Gold | QC: CC 26, BTC 22 4 days ago

They are not going to do that soon as far as I know. It's probably something they're going to keep for a decade or so.

3

percysaiyan Tin 4 days ago

Why do you think that ? Whats your reference?

1

wmredditor Gold | QC: CC 26, BTC 22 4 days ago

https://coinfomania.com/microstrategy-ceo-425-million-bitcoin-position/ I've also listened to Michael on a podcast talk about how he invested in buying domains long before the internet became popular. He held those for years and still hold some for MicroStrategy. They were the ones that sold voice.com to EOS two years ago.

2

percysaiyan Tin 4 days ago

The article is speculative and also our understanding of anytime soon could very different or change drastically if we hit a bear market..If they do dump, it will be the biggest crash we'll see.. Plus will Bitcoin really be decentralized after a certain point?

1

Loose_with_the_truth 4 days ago

Why would an investor responsible for billions of dollars in investments dump them in a bear market and lock in millions of $ in losses? People don't get in his position by FOMO buying high and panic selling low.

1

wmredditor Gold | QC: CC 26, BTC 22 4 days ago

Let's just watch and see then.

1

thunderFD Tin 4 days ago

Wait another huge purchase? wow this is starting to feel like we'll have news like these almost daily soon...

1

vegasluna Bronze 4 days ago

deepening the bitcoin shortage .

3

red_catalyst 4 days ago

Wait, if they bought such a huge chunk, why isn't the price going up? using the supply and demand logic, shouldn't the price increase? Can you help explain what's wrong with my understanding here?

0

suninabox Gold | QC: CC 29 4 days ago

>Wait, if they bought such a huge chunk, why isn't the price going up? using the supply and demand logic, shouldn't the price increase? Can you help explain what's wrong with my understanding here? all exponential growth is self limiting. It takes exponentially more money to go from 25,000 to 50,000 than it does to go from 2,500 to 5,000. Back when bitcoin was in the hundreds, someone spending 100 million on an exchange would have sent the price soaring, now it barely makes a dent. this is why all speculative bubbles are self limiting, even ones based on assets with underlying demand for utility. Eventually you get to a point where there is no longer enough money remaining to continue the same growth rate. Once speculative gains slow down, speculators move their money out to other assets that have better rates of return. This is the huge and obvious flaw of having a "store of value" for which 95%+ of the demand is from speculators. At least in other speculative bubbles like housing and gold, there is demand from other sources not tied to speculative gains (people still want a house to live in even if it doesn't turn a profit, people still want gold jewelry even if it isn't an investment). There is no floor to how low crypto speculative bubbles go because there's no real reason anyone holds it apart from to profit from expected future increases in value. Once people no longer expect it to increase in value there's no reason to hold it.

2

psaldorn 4 days ago

They tell you after they finish buying, not during.

3

Loose_with_the_truth 4 days ago

I'm fine with that. They'll get richer in the long run but it will drive the price up in the long run.

2

jmor11 4 days ago

I too would like to announce another $100 buy.

19

Loose_with_the_truth 4 days ago

At $25/week, I consider myself a whale.

8

wmredditor Gold | QC: CC 26, BTC 22 4 days ago

You are the real Chad 👌

2

cryptolipto 4 days ago

Bought the fuckin DIIIIPP

2

OrangKampoen 1 - 2 years account age. 100 - 200 comment karma. 4 days ago

Did my math is wrong? 295 BTC is missing.

On Aug 11th-2020: 21,454 BTC; avg price $11,653 = $250M (source: MicroStrategy filling)
On Sept 14, 2020: 16,796 BTC; avg price $10,419 = $175M (source: Tweeter)
On Dec 5th, 2020: 2,574 BTC; avg price $19,427 = $50M (source: Tweeter)
On Dec 21st, 2020: 29,646 BTC; avg price $21,925 = $650M (source: Tweeter)
On Jan 22nd, 2021: 314 BTC; avg price $31,808 = $10M (source: Tweeter)
On Feb 24th, 2021: 19,452 BTC; avg price $52,765 = $1,026M (source: Tweeter)

Total: 90,236 BTC avg net cost $ 23,952 with Net Cost: $2.16B.

He claimed that hodl 90,531 BTC Net cost: $ 2.1716B. Missing 295 BTC (~$11M).

Can someone correct me?

4

hans7070 3 days ago

He bought $10M worth two times [https://twitter.com/michael\_saylor/status/1356600103193182210](https://twitter.com/michael_saylor/status/1356600103193182210)

2

OrangKampoen 1 - 2 years account age. 100 - 200 comment karma. 3 days ago

Thanks man! This is what i was missing.

2

Loose_with_the_truth 4 days ago

Dude has doubled his money in a year. That's pretty good for the amount of money he's spent. If he'd gotten in this big earlier imagine the wealth he'd be in control of now. But bitcoin will 20x over the next 5-7 years so he's doing fine.

1

wmredditor Gold | QC: CC 26, BTC 22 4 days ago

That probably went into fees or you're doing a math wrong somewhere.

1

OrangKampoen 1 - 2 years account age. 100 - 200 comment karma. 4 days ago

I just enter all this numbers on Blockfolio. They do the math. I am pretty sure the math is correct. The fee might be the case. Or I I didn't count some purchases.

2

Rabbit0123 Crypto God | QC: ICX 114, CC 75 4 days ago

Oh that good old Microstrategy ! They are becoming a Big whale in these dark waters.

2

Roma-S5 Tin 4 days ago

Although it's nice that he's pumping our bags, it's really irresponsible of what he's doing. Once the debt market sells off, the yields will spike, forcing him to sell the bitcoin to cover his bonds. Due to this, in this inflationary environment, bitcoin will not be an inflation hedge or a store of value. Crypto is treated like a risky and volatile asset class. It's not where money is going when it wants safe and reliable.

4

Mordan Gold 4 days ago

the bond matures in 5 years. so he has a full halving cycle to wait and 1 year.

5

Prized-Man 4 days ago

So am I correct in assuming that they bought these BTC at or above $40k BTC? Do these companies also buy on exchanges like we do or some other way?

Either way I am playing with the Big Boys now 😜

1

xxanax 4 days ago

Possibly yes. For instance, Coinbase has *Coinbase Prime* for all corporate and financial institutions. As seen here: [https://primebroker.coinbase.com/corporate-investors](https://primebroker.coinbase.com/corporate-investors)

2

beaterx 4 days ago

Wondering the same thing. And shouldn't we see a noticeable increase in value already?

1

pinoygs 4 days ago

You can do an OTC buy in so that your purchase does not affect exchange prices during the time you buy.

1

pradn - @pradn 4 days ago

There's some real comedy in this line: “The Company remains focused on our two corporate strategies of growing our enterprise analytics software business and acquiring and holding bitcoin ...”. What even is the connection!

endisneigh - @endisneigh 4 days ago

So when all companies have substantial amounts invested in Bitcoin and therefore a non-trivial percentage of their performance is tied to Bitcoin, what will the world do to prop up Bitcoin when there's another 100 year catastrophe?

It's sad how little faith some of these companies have in humanity - surely a billion dollars could result in better performance by investing in their own labor?

christiansakai - @christiansakai 4 days ago

A company that doesn't produce anything of value get infinite P/E ratio due to Bitcoin. Compared to companies like AAPL that consistently produce products and tools that changes the lives of millions of people with only P/E ratio of 3x (<-- this means 30 something, not 3x as in 3 times, what I really want to say is, 30 something times)something.

This world already broken beyond repair.

JPKab - @JPKab 4 days ago

The software is absolutely a shit show, and this cements the belief they are distracted and have given up in their core business.

rfrm - @rfrm 4 days ago

Bitcoin is useless to everyone that's oblivious of the current issue of Central Banks debasing the currency with unlimited money printing and the creation of bubbles in the financial market.

First of all, Bitcoin is not a currency and it doesn't need to be a currency, it wasn't designed to be one, it was engineered to be an scarce digital asset that could be electronically transfered between two parties without the need of a middleman. These transfers can't be censored by nobody. Probably you don't see value in any of that because your country economy is right on track to recovery from the pandemic, you have inflation rate of 0%, or you went to a the bank with your parents when you was a child and they opened an account for _you_ .

Well, that's not how it works in many other parts of the world, where you don't have access to banks, where you have staggering inflation rates that destroy your savings, where you don't have access to the financial markets where you can benefit from the inflation of stock prices caused by the money that the goverment gives Wall Street for almost free.

Bitcoin is optional, you don't have to be part of this network. Probably the second scenario is what most countries in the world are living right now and that's why Bitcoin will thrive there.

runako - @runako 4 days ago

MicroStrategy market cap: $7.2B

MicroStrategy BTC holdings: $4.5B

62% of the market value of MicroStrategy is its BTC holdings. Saylor is, intentionally or not, making MSTR a proxy investment vehicle for BTC.

jbverschoor - @jbverschoor 4 days ago

This is simply tech getting rid of the fiat.. They'll trade BTC internally, and use fiat where needed.

rkalla - @rkalla 4 days ago

Step 1. Go all in Step 2. Go all-er in. Step 3. ...

gdsdfe - @gdsdfe 4 days ago

I don't get it, why an analytics company is buying bitcoin ?

trimbo - @trimbo 4 days ago

They paid an average of $52,765

So their new purchase has currently lost 7% but their stock is up 9% today. It all makes perfect sense!

numpad0 - @numpad0 4 days ago

See, that’s what savvy ones do. Buying at ATH, HODLing through dips, and finally exiting right before next ATH.

loceng - @loceng 4 days ago

The VC-financial industrial complex is really ramping up their efforts lately.

Who will be the people left holding the bag, will regulatory capture lead us to forcing people to need to buy Bitcoin to function in society?

seibelj - @seibelj 4 days ago

Anyone trying to understand Michael Saylor’s reasoning should listen to this podcast episode: https://podcasts.apple.com/us/podcast/the-bitcoin-standard-p...

He goes into great detail his logic and reasoning for doing the purchase, why he thinking it’s a good investment, etc. Going to give you a much richer understanding than the spitballing you’ll find in these comments.

ffggvv - @ffggvv 4 days ago

it’s pathologically insane they did this with a bond. imagine lending someone money to buy bitcoin

mdale - @mdale 4 days ago

Won't bitcoin be due for a bit of a drop one quantum computers unlock some percent of the wallets.

https://decrypt.co/28560/quantum-computers-could-crack-bitco...

Show all comments on Hackernews

25 1 7

biglambda 4 days ago

Tether hasn't allowed customers from New York since, I believe, 2016.

0

AmericanScream 4 days ago

This has no bearing on the claims the AG is making. Are you suggesting the scam should be ignored because of a jurisdictional dispute?

1

foreveryellowXL 4 days ago

This is great news, bitfinex is shady af.

2

YazanNuqul 4 days ago

I would recommend checking out Ingot Brokers, I have been trading with them for 5 years now.

0

mingy 4 days ago

All unregulated markets devolve to fraud.

4

ensluck 5 days ago

Bitfinex, Tether settle with New York's Attorney General for $18.5 million

https://www.theblockcrypto.com/post/95207/bitfinex-tether-new-york-ag-settlement-lawsuit?utmsource=rss&utmmedium=rss

1

Harry_Coolahan 5 days ago

When was the last time GUSD and USDC were audited? I know Tether has been questionable for a while but does this reaffirm the backing of the other stable coins? Or is this a set of dominos waiting to fall?

8

ilikepancakez 5 days ago

The questions you're asking are headed in the right direction. Gemini and Coinbase aren't the only exchanges that have minted their own stable coins though. Also don't forget to consider Asian markets.

9

Harry_Coolahan 5 days ago

So what's the answer? Have they been audited or haven't they? If so, what did the audit entail? I'm not concerned about smaller stable coins, more interested in the top two.

7

ilikepancakez 4 days ago

Looking at total flows, GUSD and USDC make up a very small portion of volume. They will have little to no real effect on the market.

1

Harry_Coolahan 4 days ago

I don't think that really answers my question. I am asking if GUSD and USDC are *safe* stable coins, i.e. properly audited. If I buy them, can I be confident that they are backed by real money. I don't know how volume is impacted by that, or what affect they should have on the market. I don't mean to sound rude but I'm not following what you're saying at all.

1

ilikepancakez 3 days ago

Coinbase released their S-1 today so you can probably read it and make a decent judgement based on that. Gemini hasn't released anything recently, but their last audit was at the end of January. They should have something out by end of February. I can't really give you definitive answers unfortunately. It's up to you to make your own decisions. Hopefully the information helps to strengthen whatever outcome you come to though.

1

Harry_Coolahan 3 days ago

Thanks, I appreciate that.

1

godfeast 5 days ago

Dumbass New Yorkers being dumbasses.

This state and California account for 75% of the stupidity and immorality in the USA, so who gaf what one of their leaders cries about. It’s all just a shitshow.

1

Nonmockaccount 5 days ago

Ban. Take your dumbass reeee to r/politics

1

v0x979 5 days ago

know what you own and never trust anyone to hold your chips at the casino. this could have been as disastrous as mt. gox or robinhood.

1

StuGats 5 days ago

And a new generation of bag holders is born lol. I'm surprised USDT is still a thing given how obviously sketchy it was back in 2018. Shit's a house of cards.

As an aside, I wonder how much of this is Musk dumping his buttcorn on his fanbois you FOMOed in after Tesla's financial disclosure. He's such a fucking greaseball lmao.

8

Alpra_Creem 5 days ago

I really hope Musk dumped his corn, because TSLA is fucking SPY hard right now. If it comes out that he sold for a profit the markets would feel a lot better about it.

3

ObligationGlad 5 days ago

I have read that this is basically pass the buck to doj. They still have to go through an audit.

1

Alpra_Creem 5 days ago

They have never allowed a third party audit, and I highly doubt there will be one. They are not transparent at all.

1

AReturnToIndica2 Hedgie 5 days ago

Sir, this is a dice game in a Burger King restroom

5

Alpra_Creem 5 days ago

This isn't GME, but I've seen other posts here about Doge, so I thought this might fit in here too. And since TSLA now owns 1.5 billion in crypto, this could have an impact on the traditional markets, I feel like it might fit in here.

For those unfamiliar with Tether and why this is a huge deal, I highly recommend you read this article.

https://crypto-anonymous-2021.medium.com/the-bit-short-inside-cryptos-doomsday-machine-f8dcf78a64d3

2

ArthurDeemx Hedgie 5 days ago

based and crypto pilled. Elon is a fag tho, why the hell did he make BTC be impacted by stocks, fuck him. I'm literally bleeding crypto rn

0

BearTrap2Bubble 5 days ago

I sold 95% last night at 49k. Ready to jump back in when it feels like the right time.

2

ArthurDeemx Hedgie 5 days ago

sure thing Michael

2

hugiuhisi 5 days ago

Thanks for sharing. Reading now. Would love to have someone more experienced than me weigh in on this.

Edit. So Bitfinex backs Tether using private capital and it appears they don't have control over the capital. The amount is not disclosed. It is not backed by dollars, but by a mix of different assets including dollars. There is no transparency into the value of the backed assets.

Most if not all of their statements are misleading. Drawing line of credit on tether, when they don't really control the asset or even the debt they are borrowing against (tether) is consistent with their behaviour. Opening and closing accounts, transferring money around audit time, and delayed responses to all audit inquiries are also normal for them. It looks like they have no business being a stable coin and their claim to be one is misleading.

49

RogueJello 5 days ago

It seems to go deeper than that, there have been previous allegations that Tether has been used to inflate the value of BTC. https://old.reddit.com/r/SecurityAnalysis/comments/kt5gqj/tether_price_manipulation/

24

Rainarrow 5 days ago

It’s gonna hold. The market only care about if the scheme could keep going, and the answer is a yes now.

Tether basically got away with it.

2

CriticalRacePraxis 5 days ago

There will definitely be people that get away with it.

1

rBitcoinMod 5 days ago

Your submission has been flagged for removal because it is considered off topic for the Bitcoin subreddit.

^^I ^^am ^^a ^^bot ^^and ^^cannot ^^respond. ^^Please ^^contact ^^r/Bitcoin ^^moderators ^^directly ^^via ^^mod ^^mail ^^if ^^you ^^have ^^questions.

1

Franks2000inchTV 5 days ago

Tether's getting pegged for sure.

3

ilikepancakez 5 days ago

Settlement agreement: https://ag.ny.gov/sites/default/files/2021.02.17_-_settlement_agreement_-_execution_version.b-t_signed-c2_oag_signed.pdf

Additional commentary: https://www.theblockcrypto.com/post/95207/bitfinex-tether-new-york-ag-settlement-lawsuit

7

1nv1s1blek1d 5 days ago

This just opens the door for other states to ban them.

“Today’s agreement requires Bitfinex and Tether to discontinue any trading activity with New Yorkers. In addition, these companies must submit regular reports to the OAG to ensure compliance with this prohibition.”

3

5dollaryo warning, I am a moron 5 days ago

Now what ?

2

WHY_DO_I_SHOUT 5 days ago

USDT is fully reliant on trust. It's in the name: **stable**coin. It has no reason to exist if it can't maintain the USD peg. As long as people trust the peg to hold, it does; as long as you trust that 1 USDT = 1 USD, USD and USDT prices of cryptos will be equal and there will be little point in exchanging USDT to USD (there will be some volume, but Tether Ltd can cover it easily). The big question is whether this - outright proof that USDT isn't backed - will make people lose trust in USDT. If it will, USDT supply will exceed demand and USDT -> USD traffic will go so high that covering it will become too expensive to Tether Ltd and they'll pull the plug. They're crooks, they have no reason to keep their operation going when money starts to flow to the wrong direction (= away from them) USDT collapsing would be disastrous to unbanked exchanges, almost all their volume is in USDT. All this chaos would then spill over to actual cryptos too: seeing entire exchanges go bust, market mood will get much worse and people will start selling. All this selling -> number go down -> more panic -> even more selling. But all this only if the peg actually breaks. And even later steps aren't quite guaranteed to happen - crypto's recent rapid rise might still cause people to all go "BUY THE DIP!!!" and end the panic spiral.

5

btcxio 5 days ago

Summary: Bitfinex lied and deceived the entire crypto community for years now about Tether. Should not be trusted. Got let off with a relatively small fine. Can’t do biz in NY anymore.

Moral of the story: Don’t use Bitfinex, they are frauds and shady af!

25

dethfenix Redditor for less than 60 days 5 days ago

Read all of [this shit](https://amycastor.com/2019/01/17/the-curious-case-of-tether-a-complete-timeline-of-events/) and then tell me you'd ever trust Tether or Bitfinex. Its operators are all criminals and scammers that have been playing hot potato with millions and millions of Dollars between banks and shady tax haven outfits until they get shut off.

15

Frunknboinz 5 days ago

>Don’t use Bitfinex Why? Bitfinex doesn't own Tether.

0

pafkatabg 5 days ago

The same company owns both.

15

btcxio 5 days ago

Correct. Bitfinex owns Tether. It’s all one company.

3

mtrycz Transaction Maximalist 5 days ago

To be technincally correct iFinex owns Bitfinex and Tether, but it's just accouting soup.

4

btcxio 5 days ago

I originally wrote iFinex and then re-typed it to not confuse noobs. Like you said, it's just accounting details at that point. It's all iFinex/Bitfinex/Tether (same people, same company).

7

Frunknboinz 5 days ago

There we go!

5

Alpra_Creem 5 days ago

I have a feeling this is only the beginning. NYAG is just getting the ball rolling, more will follow.

12

gotamd 5 days ago

Yeah, NY only has the ability to go so far, and they took it to nearly that point (e.g. Bitfinex and Tether can no longer do business in NY). They probably could have criminally charged the executives, but they didn't do that and probably knew that it would be a waste of time. The US Federal Government, on the other hand, has a much broader reach. I would be surprised if we don't hear from them sometime in the near future.

8

Alpra_Creem 5 days ago

Yep, this is a great first step, I expect more countries/agencies to follow suit.

4

BitSoMi 5 days ago

Buttcoiners: Everything ok, they settled. Send it

8

5dollaryo warning, I am a moron 5 days ago

You guys have been hoping and wishing for this for so long. Now what? Time to buy bitcoin.

0

Fabint 5 days ago

If it drops a bunch today I might buy the dip. I expect it will either fluctuate like crazy for a few days or carry on without noticing tbh.

2

KriosXVII 5 days ago

I'm sure the 33 billions tethers printed since Bitfinex lied about having backing for 1 billion are backed.

10

Guilty_Engine_6944 5 days ago

So after admitting they've been scamming you for years, you want to throw more money at them? Go for it 🤭

8

Blooberton 5 days ago

Guys, guys, hear me out.

This is good for bitcoin.

4

bhiitc 5 days ago

That's good for Bitcoin (unironically).

It's a slap on the hand, nothing more.

With the Tether Apocalypse out of the way, there is nothing preventing the bull market to continue.

The eventual crash will be glorious.

5

flat_bitcoin warning, I am a moron 5 days ago

Bahaha $18 mill fine. Tether going to the moon way cheaper than SpaceX

4

f430 - @f430 5 days ago

This is going to open up a whole can of worms now and not limited to New York. They basically admitted Tether is unbacked and is fraudulent.

    “Bitfinex and Tether recklessly and unlawfully covered-up massive financial losses to keep their scheme going and protect their bottom lines,” said Attorney General James. “Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie. These companies obscured the true risk investors faced and were operated by unlicensed and unregulated individuals and entities dealing in the darkest corners of the financial system.

This will almost certainly involve the DOJ & SEC but because wire fraud and money laundering is present, it will involve other federal agencies as well on top of the lawsuits that will be happening in multiple states.

Show all comments on Hackernews

25 1 6

Formal-Dimension-966 2 days ago

she looks like a character from spongebob that hangs out at the krusty krab as a customer

1

corsaiLucascorso 4 days ago

“Faster” to her means ‘Fed issued crypto ‘ like China digital currency “ same with Powell . It will not be private sector, free blockchain technology that becomes every day use . I predict a two tier digital currency one day. Reminds me of in Star Wars Episode 1 when Qui Gone is looking to buy parts from Watoo and he says Republic Credits are no good And then asks for other money that’s acceptable in Tatooine . Well that’s how digital currency will may be. XLM is definitely one of the best crypto out there based on speed and simplicity, but never think any world governments will accept something as lovely as free blockchain like Steller . This is just my opinion. I believe in the technology and know it will have its place especially in proof of ownership and I do invest in it .

1

dxtra196 4 days ago

Xrp is a scam , 80% of the coin is spread between the company employee and ceo and 20% in circulation. On top of that is not really a coin you can mine it

0

VillanOne 4 days ago

For the mentality incapable of interpreting:

"We need to find a way to regulate and tax the crap out of it because too many people are getting Rich from it"

1

ZmasterFlash69 Redditor for 11 months 4 days ago

Anyone who believes that the world’s governments and most powerful financial people can’t outlaw any cryptocurrency that tries to usurp their wealth and power have a lot to learn. It’s naive to believe that an anonymous crypto is going to overtake them, well good luck with that thinking! With one stroke of a pen, like an executive order, a US President could deem a crypto a threat to the US economy or world reserve currency status and make a particular crypto illegal to own. With no US trading allowed and all US exchanges refusing to trade this crypto, how long before the price retreats to zero? Don’t be a fool! Only crypto’s who are transparent and work with regulators will ultimately survive!

2

RaZorTrader5 4 days ago

$XLM #Stellar - Wickedly fast and a kick ass team.

1

AtomicMonkeyTheFirst 4 days ago

Theres a good reason Tesla became the first major company to accept BTC, its because a $50k ca4 is just about the only thing worth buying that you'd wait potentially a couple of hours for the transaction to clear. No one is going to wait that long to buy a coffee or a meal in a restaurant.

3

wokeupsnorlax 4 days ago

CNBC complaining about the carbon footprint of crypto's babysteps like fiat's footprints aren't giant carbon quakes

Lol CNBC

1

somerandomusernam 4 days ago

It's like your great grandma explaining the internet to her friends. They just don't get it. I'm positive that a more unfit person for her position is impossible to find. A fucking monkey would be more useful.

1

ZmasterFlash69 Redditor for 11 months 4 days ago

She hit the nail on the head and understands blockchain better than most folks. If you are insulted that she took a clear shot at BTC, maybe you are the one who needs a refresher course?[XRP vs BTC Power Consumption](https://ripple.com/insights/the-environmental-impact-cryptocurrency-mining-vs-consensus/)

3

somerandomusernam 4 days ago

Thank you. Good read. Haven't thought of it from this point of view before. I'm excited for what the outcome of the SEC case will be.

3

Vec-tor 4 days ago

Moves BTC to wallet. Gets taken from behind without lube in fees and it takes an absolute age.

Moves XLM for precisely no fees and its done as quick as I can open the wallet to check its there..

It's kinda stating the obvious but she's not wrong. BTC is like having your stuff in a safety deposit box that takes effort to get out. XLM is like whipping out a debit card.

No way to be sure xlm is the crypto that gets adopted to fill the fast free/cheap need but its the one I've got behind so hopefully it is.

10

Vec-tor 4 days ago

Moves BTC to wallet. Gets taken from behind without lube in fees and it takes an absolute age.

Moves XLM for precisely no fees and its done as quick as I can open the wallet to check its there..

It's kinda stating the obvious but she's not wrong. BTC is like having your stuff in a safety deposit box that takes effort to get out. XLM is like whipping out a debit card.

No way to be sure xlm is the crypto that gets adopted to fill the fast free/cheap need but its the one I've got behind so hopefully it is.

1

fuck_you_dylan 4 days ago

Nah, XRP is the future

1

weedgay 4 days ago

I think she's talking about dogecoin

8

Delicious_Answer4957 4 days ago

Lol

3

Elcaballito92 4 days ago

If this happens it’s OV

1

TheAngryCowboy 4 days ago

Dammit, Janet!

1

OzzieB90 4 days ago

It’s XRP you simpletons! You should be grateful to have the know abouts of just beautiful techno got created by Ripple Labs!

Also I do love XLM just so y’all know! Same with ATOM, plus XTZ! Also IOTA, XDC. As all these will be the future! But seriously you guys are sleeping hard on XRP if you don’t understand what’s coming or what will back it!

But also check those other tokens I hinted that! Cheers!

1

kcdirtracer 4 days ago

Don’t forget ALGO

3

OzzieB90 4 days ago

Yea bro ALGO, for sure! Also FLR! HBAR gonna be around too! Damn bro there’s a few more!

1

Threadender79 4 days ago

Feds don't want the federal reserve and ECB replaced or competed with. XRP will be destroyed eventually. Feds don't want competition with crypto they want to coopt it. It's annoying but it's happening.

3

dantjeh 4 days ago

so dont buy XRP?

0

OzzieB90 4 days ago

Riiiiight. Ripple Labs is a FinCEN company. Once you know that you’ll know the rest.

2

machineswithin1 4 days ago

*registered with FinCEN

3

OzzieB90 4 days ago

Man you’re a special one! Are you registered with them or anyone you know? NO! You’re not. Probably didn’t even know this until I mentioned it.

0

machineswithin1 4 days ago

Ah man, I wish I was as knowledgeable as you! 😭

0

OzzieB90 4 days ago

Hey what I know is a drop, what I don’t know is a ocean. You just can’t choose to be oblivious. When you do you’re your own worst enemy.

0

machineswithin1 4 days ago

Have you just acquired a book of bullshit quotes?

0

OzzieB90 4 days ago

Why are you sour?

1

machineswithin1 4 days ago

Why are you sour? Did someone hurt you?

1

youraverageguy92 4 days ago

That or Atoms. Both are wicked fast and cheap to move.

3

youraverageguy92 4 days ago

Basically the point is to show this woman, amongst many, act as if Bitcoin is the only crypto using its flaws as a general statement to invalidate the entire crypto market. Yet another reason as to why there should be age limits on political positions. If they’re not going to live with the decisions they make then they shouldn’t make them.

1

BargePol 4 days ago

Algorand

3

maledin 4 days ago

Or Nano.

1

Kap5yloffer 4 days ago

Or Monero.

3

l3roseph1 4 days ago

Yeah I'm sure the 70+ year old woman fully understands blockchain technology and has a worthwhile opinion. /s most grandparents I know can barely log onto Facebook.

0

ZmasterFlash69 Redditor for 11 months 4 days ago

I’ll be 70 next month. Worked for Cisco Systems ushering in the Internet in the early 1990’s. Where were you? I love blockchain and the quantum financial system and what it’s going to do for the future of banking and finance... so, don’t be so fast to chuck all boomers in the same bucket. I’m the dude supplying you with most of the Ripple/ XRP articles on Reddit.

3

One_Sport_4195 4 days ago

She’s gonna do crypto in for sure.

13

adamlh 4 days ago

So... slightly related short story from just last week.

I hadn’t traded my coins in like 3 years, they had dropped to a few hundred bucks, I left it all on binance and walked away. I’ll check back someday I said.

Well, last week was that someday.

I had a little over 5 grand worth of coins, some btc, trx, xrp, xlm, and some other misc stuff.

Since im a dirty American, I can’t trade on binance anymore, couldn’t convert my coins, could only withdraw and nothing else. Oh well, so I created an account on Bittrex, and then transferred the coins 1 at a time, just to be safe.

First 4 I did were the trx,xlm,xrp, and btt, saved the btc for last.

The first four had an average fee of .05-.15 cents. The slowest of the 4 took 4 minutes to show up in my account. One moved over in under a minute.

Then came moving the btc. The fee to move it was ~25 bucks, more than 40x the cost of the other 4 combined. Then came the wait. And the wait. And more waiting. I kept updating it, and eventually I walked away and just hoped it would be there in the morning when I woke up. 98 minutes later I got the email saying my transfer had gone through. 98 minutes. If you cut that in half, then half again, and again, it would still be far too long.

So yes, extremely inefficient is a very accurate description.

42

OrangeVestR4Pussies Redditor for 2 months 2 days ago

huh you can’t sell your crypto on binance US?

1

adamlh 2 days ago

A lot of the coins I have are not supported on binance us.

1

OrangeVestR4Pussies Redditor for 2 months 1 day ago

Oh gotcha

1

Grimmwink 4 days ago

Try wiring dollars from your bank to a foreign account. It’ll take 2 days and cost $250

0

warfrogs 4 days ago

Wires are $35-$50 at every bank I've ever worked at and are batch processed at the end of the day. There's plenty to criticize the wire systems over but making stuff up does not prove anything.

2

moodyfloyd 4 days ago

accountant here who does international wires often (why do you think i was drawn to the possibilities of XRP :-D). can confirm grimmwink is full of shit on the timing and fees.

3

warfrogs 4 days ago

Seriously. My banking experience and dealing with the SWIFT system (fucking incredibly outdated) is why I think the XRP model is the future. The $250 claim is wild. The HIGHEST I could imagine it being would be $70 ($50 for sender, $20 for recipient) but that's at the VERY highest of fees I've ever seen. Hell, that's not even considering remittance accounts where the fees are more like $0.35 per $10 and tend to get cheaper as you transfer more. It's just totally off base.

2

AtomicMonkeyTheFirst 4 days ago

You should have waited a couple of months before you sold them

1

adamlh 4 days ago

I didn’t sell any, just moved the to a place where I’m allowed to trade. Binances us version sucks, Bittrex is only slightly better, but it is what it is.

1

Eeji_ Redditor for 9 months 4 days ago

damn took you 3 years to realize that lmao

1

inm808 4 days ago

This is the best type of crypto story

6

citriclem0n 4 days ago

Congrats on your windfall.

1

New-Assumption 4 days ago

This is bad for bitcoin short term but good for ripple/xrp I think

4

Br1dgeTroll Redditor for 3 months 4 days ago

Pretty good for xlm

0

XRP_Gang Redditor for 2 months 4 days ago

Good if they choose to build on the xrp ledger.

2

EvilHomer589 5 days ago

Sounds like Yellen’s pimping digital fiat. In the end the market place will decide which currency has value. Bitcoin has forged the path forward to demonstrate what cryptocurrency can accomplish. From what I’ve read, the Flare Network running on the XRP ledger, may be the next major advancement.

2

inm808 4 days ago

Fiat already is digital Most people buy shit with credit cards and debit cards and get paid with checks

4

jay_c_rising 3 ~ 4 years account age. 10 - 30 comment karma. 4 days ago

It’s digital in the sense of looking at pixels on a screen. The banks ledger and infrastructure however are not digital. Credit is lent to you by the bank and paid off at a later date, so that’s irrelevant. Debit - why does it take days to come up on your statement. Because the ledgers haven’t been updated fast enough because fiat isn’t digital. I think you are from the US so I don’t know what system is used to pay people’s wages but U.K. uses BACS (bankers automated clearing system) Both Bacs Direct Credit and Direct Debit payments work on a three day cycle, taking three working days to clear. Payments are submitted to Bacs on the first day, processed by the banks on the second day, and simultaneously taken from the sender account and credited to the recipient account on the third day.

0

inm808 4 days ago

Banks ledger and infrastructure *are* all digital

1

jay_c_rising 3 ~ 4 years account age. 10 - 30 comment karma. 4 days ago

Money isn’t though

1

inm808 4 days ago

you mean cash? cash is only 10% of US money

1

jay_c_rising 3 ~ 4 years account age. 10 - 30 comment karma. 4 days ago

Central Bank Digital Currency does not exist in the west. China are piloting it right now. Ergo £€$¥ are not digital.

1

Rowspicyplaydoe Redditor for 28 days 5 days ago

(Xrp has entered the chat) suhhhhhh dude

7

Hairzofgrau 4 days ago

BTC maxis: XRP is a bankers coin also BTC maxis: banks are adopting BTC  xD

3

williego 5 days ago

The question is: how horrible of a product is the US dollar that people are choosing an 'extremely inefficient' currency?

25

XRP_Gang Redditor for 2 months 4 days ago

It's inefficient compared to other cryptocurrency/global payments networks that she said is being worked on.

4

AtomicMonkeyTheFirst 4 days ago

Let's be honest; if people were genuinely buying (most) cryptocurrencies as currencies to replace fiat they'd never sell them.

13

Skramer1224 Redditor for 7 months 5 days ago

Yea...coming from the archaic looking lizard

6

King_Vanarial_D XRP Hodler 4 days ago

Even though she’s right about Bitcoin, why do people still listen to these fucking dinosaurs. Preaching for a system that doesn’t work anymore, who’s time has come and gone; the debt based system is dead.

5

ReconCaseyy 4 days ago

I seriously wonder if they just play duck duck goose to pick these “experts” (puppets) in politics

0

whatamidoinglol69420 Redditor for 2 months 5 days ago

Yeah because 1 of her worthless USD is worth 0.000000001 BTC because they printed money like there's no tomorrow. Only there is, and tomorrow came. Now they are salty af that the dollar isn't as useful as they wish and there's a new currency reserve in town. Oh I know, make BTC illegal! That'll solve it all

0

Browse-throwaway Redditor for 4 months 5 days ago

BTC is a shitcoin though

6

25 2

Eywadevotee 2 days ago

Just in time for the second stimulus. Sorry everyone, Iran hacked the fed, no checks for you till we fix it... smh.

1

Volfegan 3 days ago

Imagine with digital currencies and suddenly no one can use their money because of a bug in the system and money can't flow ("the spice must flow"). That's the future mankind chose to follow. Soon, in a country where you live.

3

AssiyahRising 3 days ago

Take my upvote, if only for the Dune reference.

3

nocans 3 days ago

There is definitely a reason this happened and we don’t get to know what it is. I’m surprised this is even news. Nothing should be able to shut a system like that down. This is quite disturbing.

2

KayloCunn 3 days ago

Guys Elon Musk doubling all ETH and BTC even DOGE coin deposits, this so needed right now. Ceck it out for yourself talk is cheap.

http://www.elon-event.net

0

Sleepdprived 3 days ago

Someone is going to blame wallstreetbets for this one too....

1

GoldeneAnanas 3 days ago

Moment, also die Kiste die die Prozesse für die vielzitierten Short Ladder Attack macht ist abgeraucht?

Kann das jemand mit nem ordentlich plissierten Gehirn mal für Autisten erklären?

1

MadMustard 3 days ago

Ist mein Verständnis des Artikels, ja. Bin mir aber auch nicht sicher ob das wirklich so zusammenhängt.

1

DuncanThePunk 3 days ago

I used to work of an EFTPOS transfer system at a bank. Economics aside, the tech was very primitive. Nothing compared to the resiliency of crypto.

3

QuantumBonifacio 3 days ago

Don't worry BTC is still here to store your money...

But what exactly will you do if you can't tansfer your money? Did it really have value after all?

3

djluvrocks 3 days ago

Maybe they used too low of a gas fee... Shouldn't cheapen out on gwei :rofl:

2

pyalot 3 days ago

Fed mainnet is down, their central validator crapped out, #justgovproblems

3

ComputerSavvy 3 days ago

The Fed’s system that allows banks to send money back and forth.....

https://dflund.se/~jesper/old_funnys/archive/ASR-960419.html

2

mauler1983 3 days ago

Remember to show them Mercy, offer them the black crayons, taste like licorice anyway!

5

VideoGameDana 3 days ago

Of course I have to read this as I'm waiting for an ACH transfer from Binance.

3

notcaffeinefree 3 days ago

Bring back the $100,000 bills!

1

SalmonfromHell 3 days ago

That was my theory. If so, I feel SOooo sorry for those hedgies. /s

https://www.reddit.com/r/amcstock/comments/lrnz0g/ssr_now_likely_to_be_in_place_on_friday/?utm_source=share&utm_medium=ios_app&utm_name=iossmf

3

Jh_843 3 days ago

So pretty much they were shorting so much they blew a fuse ?

3

menntu 3 days ago

What, no blockchain?

3

Prudent_Signature_72 3 days ago

Lost the ability to short ladder for like 20mins? LOL

8

KillahKorona 3 days ago

Doubtful.

AMC and GME held strong yesterday when everything was shitting the bed on Wall Street.

It’s because we’re holding and the hedge funds are getting desperate.

12

astoryfromlandandsea 3 days ago

There’s been some weird stuff going on for days now. All of my credit card payments (a couple of days apart) were taken out twice - still waiting for the refund on those - a week later. Idk, I thought it was my fault first time around - but 3 times?

5

grebetrees 3 days ago

I second this. My spouse tried to call Schwab on Tuesday and there was a 60-minute queue, when there is usually none. So, yeah, this is the icing on the shitcake

2

astoryfromlandandsea 3 days ago

Yeah. I was in the queue for about 1h25min - usually it’s like 5min. That was last week.

1

flamingboard 3 days ago

Waiting for some more Tether.

5

Snapingbolts 3 days ago

Could this be from the solar winds hack?

2

corrosive_cat91 Redditor for less than 30 days 3 days ago

This is wonderful news for crypto 🚀

11

fxdbmgtow 3 days ago

Must run on Coinbase's backbone.

5

William_Delatour 4 days ago

Biden’s America. We are a joke.

0

Snapingbolts 3 days ago

You know the guy before him was a reality TV star who bankrupted a casino and questioned if we should inject bleach to fight covid, right?

10

aflyingsquanch 3 days ago

He didn't bankrupt a casino, he bankrupted 3 casinos, a hotel and his consolidated casinos 2 more times on top of that for 6 total bankruptcies.

8

Snapingbolts 3 days ago

Just some mild bankrupting, nbd

2

crazycanuks 3 days ago

Whoa now. You're not suggesting that the big bad federal government step in and regulate these fine private banking institutions are you? I mean the free market will take care of this since all the banks are going to switch to one of the many other more reliable financial banking systems out there now right? You're doing a very bad job trolling. You should give whoever is paying you their money back.

8

fromlowplaces 3 days ago

The fed is part of regulation. It is not part of a free market at all

1

crazycanuks 3 days ago

Oh so you're saying it **is** Biden's fault then?

1

25 2

funderpantz 10 hs ago

I have no problem with that

1

tooleftwingforreddit 4 hs ago

Why?

2

funderpantz 4 hs ago

Anything that weakens Russia is good in my book

0

tooleftwingforreddit 4 hs ago

But why?

2

funderpantz 4 hs ago

Treatment of LBGT, opposing voices, etc, invasions of Georgia, Ukraine etc, supporting dictators who are murdering their own people e.g. Syria and so on. There's a really long list, pick a handful and call them my answer

0

tooleftwingforreddit 12 hs ago

So reddit is auto removing direct links to the leaks.

Link in article, try it out.

8

AutoModerator Yesterday

Archive.is link

Why this is here.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

1

Leonichol Geordie in Exile (Surrey) Yesterday

Sorry, your submission has been manually removed by a human!

Your submission is similar to another which has already been posted. Please view /new or search to locate it.

If you believe this message is posted in error, message the /r/uk team and include a link to this post. Please don't do this lightly, we're very busy and have likely acted correctly.

1

Mkwdr Yesterday

Because encouraging democracy and journalism in a dictatorship is no different from a dictatorship undermining democracy. I hope they are doing their best to ‘counter Russia’.

2

ApostateAardwolf Yesterday

This seems to be getting posted daily at the moment.

3

qrcodetensile Yesterday

Russian disinformation being posted on reddit? Shocking.

2

la-croixboy97 1 day ago

What goes around comes around

1

Sadutote 1 day ago

Some of the article's talking points are really reminiscent of Russian MoFA's allegations towards Bellingcat following their MH17 and Skripal poisoning investigations. Might be worth looking to see if the article lines up with Russia's official position.

1

davoust 2 days ago

Twitter is trying to limit access to this news:

https://twitter.com/aaronjmate/status/1364287394359504901

The whole thread: https://i.imgur.com/sFieZuj.jpg

3

Jerkface86 2 days ago

Reuters and everything attached to it have been against Iran since oil was discovered. Absolute garbage.

3

MaximusIsraelius 3 days ago

I had noticed a lot of propaganda coming out of Reuters recently against Iran. Lots of anonymous sources claiming things that make Iran look bad. I thought I was maybe being a bit too paranoid about it, but it seems I was right to be concerned.

They leverage peoples perception of Reuters being impartial to push vile propaganda. I'm glad they have been exposed and we now have proof of that. May their credibility go into the garbage along with the BBC, Guardian, CNN, NYT etc.

I assume there was blatant propaganda all along, but for some reason it seems more obvious and noticeable now. Either their propaganda is just more outrageous and easier to debunk than it was before, or its a case of once you learn the tricks they use, you become more aware of it and better at detecting it.

5

Franfran2424 Espāniā 3 days ago

Me too. Reuters is generally good for British news, so acceptable in general. But their editor for anything Iran or Syria related could very well be a fucking mossad agent, for they lie and manipulate news to level that don't happen on any other topic they cover. It's just very shocking, again, because I think it is different authors, but the content is all the same anonymous sources, exaggerated claims, manipulation, deception, etc...

3

GarglinMay0 England 3 days ago

Good lol fuck putin

If they do it to us they dont get to cry when we do it better

0

ShamtasticDK 3 days ago

Corona-hysteri, Russerhad osv..

Vores magthavere er godt klar over at de skal skabe utryghed på falske grundlag, så de kan vise de stærke politisk, imens at den Europæiske befolkningen langsomt bliver udskiftet.

Reuters har altid været Propaganda telegram bureau nr. 1 https://link.springer.com/book/10.1007%2F978-3-030-31178-0

2

NegativeDistrict England 3 days ago

Sorry, your submission has been manually removed by a human!

Your submission is similar to another which has already been posted.

https://www.reddit.com/r/unitedkingdom/comments/lpky5l/reuters_bbc_and_bellingcat_participated_in_covert

If you believe this message is posted in error, message the /r/uk team and include a link to this post. Please don't do this lightly, we're very busy and have likely acted correctly.

1

Adzm00 3 days ago

There is a link with the source documents contained in the article. I cannot post them here and mods say reddit wont allow them to approve comment with the link so anyone interested will have to find the source material in the article.

And for those who might wish to cast doubt upon the veracity of the documents to undermine the claim here:

Thomson Reuters Foundation spokesperson Jenny Vereker implicitly confirmed the authenticity of the leaked documents

2

UnmarkedDoor 3 days ago

Interesting, but completely unsurprising.

It would be deeply worrying if it wasn't for the fact that this action is engaged against Russia, who have been engaged in an incredibly effective global campaign of disruption for decades.

The Grayzone editor is also has links to RT, which rings alarm bells. Also I'm not sure they are on the right side of the Uyghur thing.

I can understand being incredibly wary of the US, but siding up to Russia and China, does not endear the publication to me.

The Grayzone is new to me, so other opinions welcomed.

5

CompulsiveRestarter 3 days ago

Except that Russia was an existential threat to the Western capitalist powers. If you say this is something Indians should be vary of, you'll first have to explain how and to what magnitude India is threatening those countries/organizations to warrant such coordinated efforts.

5

AngrySurgeon 3 days ago

Please explain how Russia is going to bomb the EU/ US to oblivion ? Their defence budget is even lower than Japan! It’s about influence .

1

CompulsiveRestarter 3 days ago

Educate yourself please. "Existential threat" does not always mean bombs. I'm talking about influence too. The Soviet Union's existence as a second superpower served to balance American influence on the world, both in terms of military and economic might. It still does, albeit a fraction now of what it used to in the Cold War times. If there is any power close to threatening the west now, it's China. And they *are* doing all they can bring it down as OP is implying. India is simply not that much of a hindrance to warrant much intervention.

2

BangingYoChick Against 3 days ago

>India is simply not that much of a hindrance to warrant much intervention. But India is a growing nation. Not to forget if India wasn't a threat to other nations we would've not seen things like 'toolkits' and all those vested propoganda by BBC and news sites. India may not be powerful as of now but it has every capacity and ability to be a regional power and West and China are aware of it

2

CompulsiveRestarter 3 days ago

>things like 'toolkits' and all those vested propoganda by BBC and news sites If that's "vested propaganda" then what our news channels do must be fictional TV serials meant for entertainment.

1

acidfox90 England 3 days ago

You don't say.

3

Surcal :flag_AU: Australia 3 days ago

That is by far the shadiest news site I've seen in a long while

I am extremely sceptical of nearly any reporting out of there

It seems much more focused on influencing social media sites, rather than providing news and information

9

-_Spitfire_- 1 KUDOS 4 days ago

We seriously need to start working with the Russians on cyber warfare.

Our English speaking population is being brainwashed at an alarming rate, and our enemies are exploiting every fault line in our society.

We also need them to remain stable and out of China’s orbit to the extent possible.

The government needs to show some strategic foresight here imo and bring the Russians on board ASAP.

19

CuckedIndianAmerican 3 days ago

Up-fucking-vote! You couldn’t have said it better!

2

Three_14 4 days ago

For all the attention "IT cells" get, we have been extremely poor in transitioning to information warfare. Need of the hour to invest heavily into it - for both defence and offence.

17

Iwantadc2 4 days ago

BellingCat has been psyops from the start. They do a bit of pedo hunting and pictures of missing kids clothes to throw the scent. BBC been the ministry of truth since, forever, reuters I'm surprised at. The USA did murder its journalists with a helicopter gunship and they did fuck all about it though..

0

ZD_17 :flag_AZ: Azerbaijan 3 days ago

> BBC been the ministry of truth since I'm not happy about declining quality of BBC, especially their Azerbaijani and Russian editions. But come on.

3

DrunkEpsilon 3 days ago

> BBC been the ministry of truth since LOL.

1

Yosemany 4 days ago

The headline says 'weaken Russia' but the full quote of their aims were:

to weaken the Russian State’s influence on its near neighbors

And

promoting media integrity and democratic values.

tl;dr Western governments think that Russia is using propaganda and are trying to counter it. The news organizations involved say they retained their editorial independence, although they took funding from the UK.

1

Whoscapes Scottish | British | Patriotism 4 days ago

Pahah, the BBC is at a level of mistrust where it implying something (in that slimy journalist way where they never quite come out and say it) is grounds for you to think precisely the opposite.

You can't run effective intelligence campaigns using institutions if they already lack credibility. In the UK and US all of our institutions have been milked dry of their social capital. People basically don't give a solitary fuck what they have to say.

I think some of us believe that other people value what the institutions say but that's probably not even true anymore. It's just such flagrant propaganda left and right.

7

JJ0161 England 3 days ago

Don't be silly. You are clearly at the younger end of the age spectrum. You are not the target audience for this stuff. Think about the age groups that place most store in the traditional media a la BBC, Reuters etc. Now reconcile that with the age groups most likely to vote in elections. What's that? The age groups most active in voting are also the age groups most likely to trust legacy media? Wow. It's almost like manufacturing a mandate from the voters is a useful thing. Who would possibly do that 🤔

7

[deleted] 3 days ago

> Think about the age groups that place most store in the traditional media a la BBC, Reuters etc. 20 year old liberals.

3

JJ0161 England 3 days ago

HAHAHA! Fair. There's a horseshoe in the age ranges, you're right

4

[deleted] 3 days ago

I work with some people like that and the amount of uncritical adoration they have for shitty ARD/ ZDF government is propaganda is out of this world. It's like teenagers simping for Justin Bieber.

2

mysticyellow Non-European 4 days ago

Growing up, I remember that for many, MSM’s word was basically gold. Now apparently only 14% of my Generation (Gen Z) believes that it’s a reliable source if information.

2

JJ0161 England 3 days ago

Your generation is not one which does much voting.

2

mysticyellow Non-European 3 days ago

Yeah, at least for now. It will be very interesting in the future when a generation of people who overwhelmingly don’t trust the news are the primary voting block.

1

acidfox90 England 3 days ago

Thing is, what do millenals and gen-z voters trust for their information instead? The Internet? Like that's much of an improvement.

1

[deleted] 3 days ago

At least you get different viewpoints and the standard for sourcing is much higher.

2

mysticyellow Non-European 3 days ago

They get their information from the internet but interestingly they apparently developed very good information filtering skills to compensate. That’s why it’s basically only boomers who fall for fake news.

1

acidfox90 England 3 days ago

But why do subs like this one and it's parent sub exist if not for millenals who eagerly slurp down the bullshit sold to them via NYT and HuffPo etc?

2

mysticyellow Non-European 3 days ago

Huffpo and NYT are organizations that use facts and distorts them to fit their own narrative. Boomers are way more likely to fall for inforwars and newsmax news that’s just straight up false.

1

generalscruff Ingerlund 4 days ago

Completely, the BBC has destroyed any credibility it once had, feels almost quaint to see them thinking they can influence anything

3

mysticyellow Non-European 4 days ago

Yeah but it’s not bad when we do it

4

GarglinMay0 England 3 days ago

To be fair our countries arent massive gay hating dictatorship rust belts

0

25 2

007fan007 1 week ago

I didn’t know coinbase was going public. Interesting.

1

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1

degeneratehighroller 1 week ago

Its because we like the coins.

1

HighlightPublic7473 1 week ago

What all of you Simps don’t realize is Coinbase Ipo is going to be huge not because if it’s functionality we all know it’s shit right now. But North Americans will use them over anyone else.

it’s something they can trust
they aren’t just an exchange for small Investors, they do massive transactions.

And also, what you guys aren’t seeing is their brilliance in design. 99% offline storage to protect assets. It’s not hacker proof nothing is, but extreme hacker resistance.

It’s like the new Fort Knox. A new bank. Invest.

4

Far-Green-547 1 week ago

it's funny how people are still butthurt about Coinbase going down from like 3 years ago. Startup tech companies need time to mature and they've become more reliable since then.

1

PsychologicalCost5 1 week ago

It was 75b two days ago, lol.

1

naIamgood Silver | QC: CC 26 1 week ago

I don't think I will buying this, I would rather buy a token of a dex.

1

davis946 Crypto Nerd | QC: CC 1 week ago

This shit gonna dump so hard then ima scoop up some shares

4

sjgokou 1 week ago

Sadly, its a really $h!+y exchange.

4

Eldermuerto 1 week ago

Don't buy coinbase shares. It's a terrible exchange to begin with.

4

discontinuity9 Crypto Nerd | QC: NANO 1 week ago

Why? They stop being a functional exchange when volume heats up.

3

SaneLad 1 week ago

Absurdly overvalued. If they are raising at $100b, they must be pricing the listing at $200b, that's 20% the market cap of Bitcoin. More than the $116b market cap of Schwab. And they have no technical moat over any other crypto exchange. It's all brand value and user count, and we all know that most people trade with multiple accounts.

I'm not saying they won't grow beyond $200b in fundamental value over the years. But at this point in time, I think I'm better off investing directly in Bitcoin. The value of Coinbase is 100% linked to Bitcoin anyways.

9

joyeous13 1 week ago

Do we have any idea when the direct listing will happen?

5

bitsteiner 1 week ago

That is 10% of Bitcoin valuation. Either Coinbase is massively overvalued or Bitcoin massively undervalued.

7

SaneLad 1 week ago

Both

7

Cockatiel Gold | QC: CC 21 | r/pcmasterrace 13 1 week ago

To give you an idea, that is right behind Blackrock and AMD. It would listed at #71 in the fortune 500. A fortune 100 company out of IPO.

15

dani_bonnet 1 week ago

So let’s short them? Or will this actually last. Still waiting +2 months for them to get back to a support email. This company doesn’t even have enough customer service staff to handle anything.

3

Cockatiel Gold | QC: CC 21 | r/pcmasterrace 13 1 week ago

This is a crypto sub... right? or am I in /whoooosh again

0

dani_bonnet 1 week ago

In you opinion everything only goes up even a crap company that can hardly ever handle increased volume without shutting down trading for their customers? Seems like you have the wsb mentality more than me.

1

Cockatiel Gold | QC: CC 21 | r/pcmasterrace 13 1 week ago

Maybe I'm just more practical and see a company that is growing faster than it can hire, is having record profits every quarter, is the most prominent name in NA crypto exchanges, has an ENORMOUS amount of crypto being held under custody for institutional money, and has been on multiple occasions the number 1 app on the Google play store and ios store. Not to mention that they were given a 100 billion dollar valuation. So clearly the world sees how good of a company they are but, no we are are all wrong - clearly you know better. /s

0

dani_bonnet 1 week ago

Yeah but this customer service problem has existed for way more than a few years. That’s not based on growth it’s based on full ignorance. Show me the numbers that show they are worth 100 billion and their revenue is even near that. You can’t because it doesn’t exist. This is a hyper inflated valuation that will crash eventually it’s just a matter of when, not if. The bull IPO market eventually will end, crypto will stay but coinbase is just the middleman that eventually will be cut away through better technology.

1

joyrideboo Tin 1 week ago

Please take that comment back to wsb. What you’re gonna try to short every company? You do realize coinbase is like one of the biggest crypto markets In North America. Like the fuck? Their share prices are going to come out in about 300-400 range once they go public im buying the fuck out of them. Going to expose them to people that want to get into crypto without actually investing into crypto. Coinbase is going to be huge. Short them ...fucking a

3

s1ravarice 1 week ago

Best place to buy the stock for the IPO? I’ve been using trading212 for most things but I’d love to get in on this. It’s only going to help boost crypto prices too.

1

dani_bonnet 1 week ago

Yeah just check their twitter support account there is literally hundreds of thousands of people locked out of their account/having issues and they don’t care at all to help any of them. Do you really think a company like that should be worth 100 billion? Do you really think that’s what we should promote with crypto community? It’s not dumb shorting eliminates the fluff from the market and in my opinion coinbase is nothing but fluff.

1

MyTAisUP 1 week ago

You want to short them because they are gaining new customers faster than they can expand their C.S. department? Teh fook?

6

dani_bonnet 1 week ago

I want to short them because I hate them and they are not worth this much.

2

MyTAisUP 1 week ago

No shit, but imagine using anger to make good trades....... oooof

0

truestg0at redditor for 3 months 1 week ago

The RH of crypto

2

Wonderful_Waltz_6440 1 week ago

RH’s crypto is the RH of crypto. Can’t even withdraw like you can with coinbase lol.

1

unbelizeable1 1 week ago

Not even an understatement. Same level of customer support.

2

NextTrillion Tin | r/Politics 19 1 week ago

Holy mother of god, BTC just passed a trillion in value. To think a bank would be worth 1/10th of BTC sounds insane to me.

Imagine there was $10 trillion worth of gold on this planet, and the bank that handles (some / most / 50% / ???) of gold transactions is worth $1 trillion. Sure, they make some $$ from silver (altcoins), but damn that sounds insane.

Not even $1 billion in revenue. Over 100x p/s ratio. Investors must be banking on serious growth over the next few years, but I’m gonna sit this one out for now.

9

wearehalfwaythere 1 week ago

The recent IPO’s are causing this I think. SNOW, DASH, PLTR, ABNB. These IPO’s went nuts and the massive stock increase didn’t necessarily equate to more cash for the company. The analysts were blamed for “undervaluing” the valuations. But in what universe should door dash be a $65 billion company?? Other companies like AFRM actually delayed their own IPOs to let the valuation hype cool down, but it looks like a company like Coinbase won’t be able to escape the spotlight.

2

NextTrillion Tin | r/Politics 19 1 week ago

Is it because they have really low share floats? When I see $200, $300, etc. share prices, I don’t even feel the need to look up outstanding shares. Of course low floats can really sting on the way back down.

1

blockchainant Crypto God | QC: EOS 1 week ago

Yea but that’s not how stocks are valued. They’re valued based on projected earnings. Coinbase doesn’t own that much BTC so to make a book value comparison is pretty silly.

1

NextTrillion Tin | r/Politics 19 1 week ago

Rookie much? If you help facilitate widget transactions and the theoretical value of most of the widgets in existence is 10x the valuation of your company, your company is seriously overvalued. Especially considering that a large portion of those widgets aren’t actively traded and are simply being held as a store of value. >”[stocks are] valued based on projected earnings.” False. Company valuations are based on many metrics. I take it you’ve never earned a dividend? Ever heard of a moat? 😆 Also, who said anything about book value?

1

Basher459 1 week ago

Rest In Peace, rookie.

0

volatileutopia 1 week ago

Ugh they should of let us users have a shot before going open market I was saving to get ready for that but I'm glad it is going well. I've used cb since 12' and never had an issue

13

PsychologicalCost5 1 week ago

Private allocations are occurring now

1

DemApples4u 1 week ago

Look at voyager (vygvf) they're undervalued imo and will benefit from coinbase ipo/valuation if you're interested

8

bpark2808 1 week ago

Fax

2

volatileutopia 1 week ago

I will. Thanks

3

OnLY399_ 1 week ago

This has got to be overpriced

- Yoyager digital 2 billion market gap

5

beaker38 1 week ago

Has anyone of the date for the public offering?

9

thetagodfather redditor for 2 months 1 week ago

Have same question, been waiting for it forrrrevvver and we keep getting these teasers Now is the perfect time to go live from a valuation standpoint The whole world is watching

4

Squating_textbooks 1 week ago

The regulatory clarity is what is needed to ensure they can go IPO without later coming into the SEC's attention. The US is so fucking behind on this. From a valuation standpoint they will only continue to grow as the OTC and institutional investors continue to join.

3

thetagodfather redditor for 2 months 1 week ago

Great points SEC, CFTC, and IRS all have competing paradigms for the space

1

Squating_textbooks 1 week ago

Yea plus the overlap of the banking regulator requirements. They allowed banks to use crypto for interbank value transfer, makes me bullish long term. The space just needs a little bit more legal backing for it to flourish in the US.

2

WallyBallsIsMyAlias 1 week ago

It hasn’t been announced yet.

7

coinfeeds-bot 1 week ago

tldr; Cryptocurrency exchange Coinbase was valued at over $100 billion in a recent private market share sale ahead of its upcoming public listing, Axios has learned from multiple sources. It's unclear if the secondary share sale is still useful to determine a reference point for direct listing, given the upward surge.

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

1

Kerath 1 week ago

I wonder if the stock will dump 10% every time Coinbase pulls the plug to stop people from buying the dip.

43

SaneLad 1 week ago

No, because most of the big investors will be clueless fund managers who know jack shit about crypto trading.

2

dmiddy 1 week ago

They'll buy 3 more small AWS servers, call it good, and give the rest out as performance bonuses

5

algorithmicAlchemist redditor for 3 weeks 1 week ago

Yeah, their growing pains need to be a thing of the past. They need to be able to handle large increases in traffic better than their track record. I’m mean, my Coinbase app price feeds are still down, wtf

14

scrufdawg 1 week ago

> my Coinbase app price feeds are still down, wtf Seems to be a you problem. Working fine here.

5

algorithmicAlchemist redditor for 3 weeks 1 week ago

Location, location, location

6

coinfeeds-bot 1 week ago

tldr; Cryptocurrency exchange Coinbase was valued at over $100 billion in a recent private market share sale ahead of its upcoming public listing, Axios has learned from multiple sources. It's unclear if the secondary share sale is still useful to determine a reference point for direct listing, given the upward surge.

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

12

GroteWolf 1 week ago

That’s insane, still transferred my coins tho, less fees for me.

2

MrHockster 3 - 4 years account age. 100 - 200 comment karma. 1 week ago

Crazy that's 300% more than they were projecting last month!

1

14 9

Andrea O'Sullivan - @anjiecast

RT @Quillette: "There had been attempts at creating 'ecash' before, and all had failed. No one had been able to figure out how to create a decentralized, incorruptible mint, or how to grow a system that couldn’t be stopped by governments." https://t.co/kay8zUoViq

12 41

Matt Odell - @matt_odell

RT @clairlemon: "The mainstream media typically portrays Bitcoin as a penny stock gone wild, or a new kind of digital tulip mania. But the reality is Bitcoin is a political project that threatens to fundamentally disrupt the Davos-led economic system" - @gladstein https://t.co/j0ZklFJ5Rq

193 953

Steve Lee - @moneyball

RT @gladstein: Why hasn’t Bitcoin been stopped? My new essay for @Quillette dives into the political, economic, social, and technological reasons why this new financial system is undefeated: https://t.co/zY3pJstMxZ

236 344

Brooke ⚡️ - @bitcoinmom

RT @gladstein: Why hasn’t Bitcoin been stopped? My new essay for @Quillette dives into the political, economic, social, and technological reasons why this new financial system is undefeated: https://t.co/zY3pJstMxZ

113 347

Tuur Demeester - @TuurDemeester

RT @gladstein: Why hasn’t Bitcoin been stopped? My new essay for @Quillette dives into the political, economic, social, and technological reasons why this new financial system is undefeated: https://t.co/zY3pJstMxZ

96 303

Vijay Boyapati - @real_vijay

RT @SGGOODLIFE: This article by @gladstein is the BEST i’ve read since “The Bullish Case For #Bitcoin” by @real_vijay. A MUST read. It summarises the history of Bitcoin and provides direction forward with clarity. https://t.co/ud8O1j7nOl

11 66

Michael Goldstein - @bitstein

RT @gladstein: Why hasn’t Bitcoin been stopped? My new essay for @Quillette dives into the political, economic, social, and technological reasons why this new financial system is undefeated: https://t.co/zY3pJstMxZ

46 240

nic carter - @nic__carter

My man @gladstein spreading the good word in @Quillette https://t.co/7ICr19hEmS

233 1127

Pierre Rochard - @pierre_rochard

RT @clairlemon: "The mainstream media typically portrays Bitcoin as a penny stock gone wild, or a new kind of digital tulip mania. But the reality is Bitcoin is a political project that threatens to fundamentally disrupt the Davos-led economic system" - @gladstein https://t.co/j0ZklFJ5Rq

6 21

sweatytacos 3 days ago

Bitcoin will stop itself. It’s a shitty cryptocurrency. BTC block sizes are only 1MB in size. BCH is 30MB and BSV is over 300MB. It will only take longer and longer and be more expensive to do a transaction with BTC.

2

endgamer7 Yesterday

Honestly the massive growth of Bitcoin worries me because it’s stunting the growth of other crypto that don’t have all of BTCs problems and could more easily be used as a currency.

1

S8TZ3R 4 days ago

Actually, CS here - they cannot stop bitcoin. Not in the way it’s being implied in this article that is. They could turn off electricity I guess, to machines producing it. As far as a “back door encryption” or something like that, no the US Govt doesn’t have the ability to do it. Even if they did, there is a bit of a misconception about this data, in that they’d only be able to see how much a particular account had. Since BTC is swapped for cash in almost 90% of its known transactions, they’d only be able to follow the money, and even that is to a certain extent. Brokerage accounts, 3rd party Delaware shell holding corporations are how the money makes it into BTC in a “dark way.” The issue is Cryptos are not regulated or insured, thus the government has no power over them. This allows for a future economy where governments do not wholeheartedly control the flow of financial currencies.

1

TheGreatHambino2 4 days ago

Government doesn’t need to stop Bitcoin. Bitcoin will stop itself when people no longer want it and it becomes worthless.

0

Telos13 Conservative 4 days ago

RSA256 was written by the NSA. They potentially have a master key or some means to unroll the entire blockchain.

2

Gibson1984 4 days ago

Source on this? No idea what you're referring to but would like to read.

3

Telos13 Conservative 4 days ago

Source is darknet diaries episode 83, two OG cryptographers were interviewed. One was asked if the NSA has a backdoor into RSA256, and he tried not to say yes without saying no. Not sure what you want to know? About RSA or how bitcoin works?

1

Gibson1984 4 days ago

I'm kinda savvy on crypto, just don't know what RSA is.

3

Telos13 Conservative 4 days ago

RSA is just an encryption algorithm. Most web traffic is encrypted with RSA. For Bitcoin, it's the crypto in cryptocurrency. When the miners are hashing transactions, they're hashing transactions using RSA.

3

Gibson1984 4 days ago

Gotcha. Thanks for the info!

1

[deleted] 4 days ago

[removed]

1

solarity52 4 days ago

Government should embrace it. Cryptocurrency showcases how creative capitalism responds to new challenges. An alternative currency to the dollar is clearly the future no matter who doesn't like it.

2

AA-Admiral 4 days ago

Not sure, I'm new to crypto currency but I also hang out at r/btc where i learned that BTC is hijacked and BCH is actually btc 😀

0

wrinklefloss 4 days ago

*where 'learned' = 'fraudulently lead to believe by BCH bagholders'.

3

endgamer7 Yesterday

You don’t have to use BCH to see that BTC is a shitty crypto.

1

AA-Admiral 4 days ago

Uhm, hehe 😅 "Opinions, perspective, and free speech" 🤔 Just my 2cents though. Cheers 🍻

0

Cruzader1986 4 days ago

Yes. But they wont since it is the best way to launder dirty money.

6

HawksGuy12 Conservative Nationalist 4 days ago

Excellent point.

2

ThunderCuntess 4 days ago

Nope

1

Perleflamme 5 days ago

There are more BTC users than users of some fiat. This should be mind-blowing for fiat afficionados, yet it's considered pretty normal.

Edit: one bit that can be interesting: Iran plans to build a nuclear power plant specifically to mine BTC. If the US bans US citizens from mining Bitcoins, then the US would essentially be giving even more hashing power to both China and Iran. It would be the dumbest move ever.

It's already a lost war for the US if they try to ban anything. China tried. India tried. They can't do anything but regulate at most. Forbidding is already out of question.

7

PatriotBoss69 4 days ago

What do you mean by forbidding is out of the question?

1

Perleflamme 4 days ago

I've shown it in the rest of the comment: the US can't reasonably outright ban mining or using crypto. It would be giving too much power to their competitors. Well, they could be temporarily unreasonable, as China and India have been. But it would be unenforceable, just like in China and India. I'd be surprised, at least, to observe that individuals within India and China are more attached to freedom than individuals within the US.

1

PatriotBoss69 4 days ago

Because it can't be enforced ok gotcha.

1

kinjikitile 6 days ago

The comment section of this article is hilarious

1

Dogetitz redditor for 4 weeks 6 days ago

governments can't even do sensible budgets, i doubt they can stop crypto

1

Mark_Bear 6 days ago

No.

2

sammyb6767 redditor for 4 weeks 6 days ago

No, and they don’t want to

5

ccModBot Observer 6 days ago

Hello, your post was removed because your account is less than 60 days old or you do not have the required 500 comment karma to make post submissions.

1

19 3

BoyScout22 Platinum | QC: CC 55 2 days ago

satoshi would never use coinbase.

1

horsecartefxe 3 days ago

Call options anyone? In the words of Lenny Kravitz, baby it ain’t over till it’s over.

1

scycon 3 days ago

Bullish AF on coinbase. Regardless of your thoughts on buttcoins, when there’s a gold rush sell pickaxes. Coinbase is printing money on the way up and on the way down.

2

deadfootskin 3 days ago

Cant wait for higher interest rates so this fantasy economy gets a cold shower

3

VodkaHaze 3 days ago

As long as inflation expectations are low, rates stay low. Despite what butters and goldbugs say about inflation, TIPS spreads aren't crazy.

3

gobills1365 3 days ago

Going to be waiting for a long time based on what Jerome said yesterday

1

Reach_Beyond Platinum | QC: BTC 33, CC 29 | r/FinancialIndepend 3 days ago

The mention of Satoshi Nakamoto in this document is:

-giving him credit for creation of BTC

-Stating the identification or transfer of Satoshi BTC would be adverse for their business

-They sent a copy to Satoshi’s BTC address?

7

LivingFlow 3 days ago

The valuation is wild. Let’s not debate that, but do buttcoiners understand that this is another example of legitimizing for Bitcoin? Personally, I expect Coinbase’s margins to be competed down to a level that looks much closer to a typical exchange. I wouldn’t buy it for this reason. Others will because it gives easy access to something that sounds very “crypto”. Regardless, this is a huge win for crypto markets in general.

It will also be interesting to see how much crypto they own on the balance sheet.

4

VodkaHaze 3 days ago

Going public right now is a great way to dump the downslope of the bubble onto public investors. Right now all this equity is in the private owner's hands.

6

bragghy 2 days ago

They are not dumping the downslope of the bubble onto public investors, they are dumping the downslope of the bubble onto clueless idiots. Anyone who is so stupid to buy this shit at IPO and believes the BTC narrative deserves to lose all of his money. Stupidity has a price tag, and at the moment it's about $47k

2

someshittyadvices 3 days ago

Satoshi confirmed for Smash Bros Ultimate, you heard it here first.

12

HerbalHermit 3 days ago

Signal COIN

1

Eric_Something 3 days ago

Get your tin foils everyone! My theory is that Satoshi Nakamoto is my ex and she created Bitcoin and thus altcoins to ruin my life by looking at shitcoin prices all day.

27

Ordinary_investor 3 days ago

100:1 P/S ratio, which is at the peak of mania period in itself.

Insanity is too soft of a word to describe their valuation. Although i am sure it will balloon even further after it starts trading, because fuck fundamentals and any rationality.

13

yodaeon warning, I am a moron 3 days ago

That 100 p/s is calculated on 2020 revenue, right? Which is funny, because 2021 Q1 they are projected to make 4x more than 2020 Q4 and almost 2x more than entire 2020 yr revenue. $2.5bn in a single quarter. I am not saying that we should annualize that (would be silly), but the expected revenue growth in 2021 probably justifies the current valuation. https://twitter.com/lawmaster/status/1364972835446358021?s=21 --- edit: sorry the revenue expectations I refered to most likely did not consider the explosion of institutional activity.. but CB makes significantly less on institutional volume, so the 2021 Q1 revenue will likely not be 4x more than 2020 Q4. https://twitter.com/sbf_alameda/status/1364990012287160320?s=21

1

VodkaHaze 3 days ago

Quick, go public before it crashes!

16

Constantine305 1 - 2 years account age. 35 - 100 comment karma. 3 days ago

Nice!

2

Ghant_ Tin 3 days ago

https://explorer.bitcoin.com/btc/address/1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa

Block explorer link to address given, a lot of new deposits

3

fuckofakaboom 3 days ago

We need Mystery Inc to investigate this for us...

4

NiGhTShR0uD Tin 3 days ago

Jinkies.

1

SnapshillBot 3 days ago

I think bitcoin may very well be the best form of money we’ve ever seen in the history of civilization.

Snapshots:

Coinbase S-1 - archive.org, archive.today*

I am just a simple bot, not a moderator of this subreddit | bot subreddit | contact the maintainers

2

434_am 3 days ago

Yap. How else would you explain a 51,000% value increase. Imagine when everyone realizes that 🚀

1

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1

qznc_bot2 3 days ago

There is a discussion on Hacker News, but feel free to comment here as well.

1

falthusnithilar Redditor for 2 months. 3 days ago

Well, that's one way to generate more buzz around your filing although I'm surprised the SEC allowed it.

5

iwingsuitedyourmom 3 days ago

The plot thickens...

12

d3tra 3 days ago

Satoshi Nakamoto is just an acronym for coinbase...

4

Historical-Egg3243 3 days ago

i suspect satoshi is entirely imaginary.

4

11 5

YEETUS15522 3 days ago

You guys know elon musk is doing a crypto promotion?????? Hes doubling all deposits including DOGE!!! good luck guys

http://www.musk-crypto.link

0

TAKgod123 3 days ago

When dydx airdrop

3

cryptolicious501 3 days ago

From their page:

"Traders can now trade with zero gas costs, and in turn, lower trading fees and reduced minimum trade sizes."

mic drop

...Somewhere in a dark corner, CZ is seething.

4

Sc2zergman 4 days ago

how can I profit from layer 2?

1

gibro94 haETH Ledger 3 days ago

Buy projects that are involved in L2.

2

subjugated_sickness 4 days ago

uni/lrc

2

Mayneminu 4 days ago

Sounds great. I'd love to use it. ....why can't I trade on this supposedly decentralized platform? I get a warning that I'm in the US.

8

BuyETHorDAI 4 days ago

Use a VPN. It's just their frontend that has restrictions, but all of the contracts and the protocol are decentralized.

6

TheodorGrigorita 4 days ago

You guys know elon musk is doing a crypto promotion?????? Hes doubling all deposits including DOGE!!! good luck guys

http://www.musk-crypto.link

0

Hanzburger 4 days ago

Cardano shills have no idea what's coming. Their only claim to fame is cheaper fees and in a few months that argument will disappear and they'll be left with nothing. And that's just on the tech side, let alone all the externalities Ethereum has going for it.

29

Kristkind 2 days ago

It's basically like rooting for bitcoin cash in the last cycle. Worked well for a while until ... Not even shitting on bch here, but it just is not turning out to be the standard.

2

Que888 4 days ago

Interoperability of L2's still needs to be sold. You still need to use L1 to move between them

14

user-42 3 days ago

Yeah, it's worth noting though If uniswap trades got put on l2 that'd give everyone some breathing room. L1 fees for moving between would likely be less, at least for a bit

3

BuyETHorDAI 4 days ago

There's already Connext that's demonstrated L2 interoperability.

3

Hanzburger 4 days ago

For now you do, but that won't always be the case. And I believe things will converge to ZK Rollups and Optimistic Rollups, and then further down the line everything will be ZK Rollups as ZK general compute is solved. Everything right now is really just a stop gap until the general compute era.

5

LookIntoCrypto 4 days ago

Interesting. So if I'm understanding correctly, ZK Rollups and Optimistic Rollups will allow interoperability on L2?

3

Hanzburger 4 days ago

Not yet but it's something the project's are discussing, to create markers on each that are locked and released when you move back and forth.

4

LookIntoCrypto 4 days ago

Interesting, that surely make for an extremely well L2 if the discussions go well. I'm still trying to figure out this versus later when we see Phase 1 w/ Sharding. Seems they'd both solve the same problems, though good to have both. I'm still looking into the latest updates on Phase 1 to get a better sense when we see the horizontal scaling. Almost seems like everything is beginning to converge at the same time.

2

Hanzburger 4 days ago

Well we would still need L1 scaling, which sharding will help with. The roadmap has been altered a bit to concentrate on L2. They discuss this here: [https://ethereum-magicians.org/t/a-rollup-centric-ethereum-roadmap/4698](https://ethereum-magicians.org/t/a-rollup-centric-ethereum-roadmap/4698)

2

blackout24 4 days ago

Additionally current L2s aren’t even turbo charged with ETH 2.0 data sharding yet and already can handle 2000-3000 TPS.

18

Kristkind 2 days ago

What is the ETA for sharding?

1

ProSwegSnipar 4 days ago

You guys know Elon Musk is doubling ETH , BTC and DOGE deposits? i dont think this will happen ever again. It's an amazing day, im sharing this in hopes one of you see this in time. Check it out for youself before its too late >>>

http://www.teslacrypto.tech

0

AmitKVIT 4 days ago

Scam!

2

jconn93 4 days ago

Congrats to the team at dYdX and to Starkware! This is a great step forward for the ecosystem and I look forward to trying it out.

15

mvuong 4 days ago

This is huge!

22

ccModBot Observer 4 days ago

Hello, your post was removed because your account is less than 60 days old or you do not have the required 500 comment karma to make post submissions.

1

10 2 3

paleosaur Tin 3 days ago

Looks like it started happening after the 2018 sale. Shame. I considered using them to generate keys years ago. Glad I didn't.

2

coinblaster-up 3 days ago

i'm shocked. so i can't trust strangers with my coins?

1

Waitin4Godot 3 days ago

Hello Coinbalster-up, my name is Waitin4Godot. Now that we've met, we aren't strangers any more. If you don't mind my commenting, your current BTC wallet looks a little ragged. Why don't you just take these here seed words from a wallet I made myself and go on and transfer your BTC on over to this here new one? You'll like it a lot better. It's the latest generation wallet -- designed with all the current BTC protocols in mind which cuts transfer fees in half. You see, with your old raggedy wallet, one of the reasons why BTC transfers costs so much is the wallet is out of date. You need yourself a fresh new wallet to really get the proper speed and low cost like BTC had years ago. It's a shame, really, that BTC wallets wear out and get slow and costly, but that's just what happens to fiat leather wallets too, isn't it? They start to fall apart. The sooner you move to a new, fresh wallet like with the seed words from me, the happier you'll be! Isn't it great making new anonymous friends you can trust with your BTC?

3

coinblaster-up 3 days ago

i don't know why but i trust him yo. thank you kind stranger. godspeed.

4

Waitin4Godot 3 days ago

See! Isn't that new wallet so much better and faster? Tell all your friends!

1

coinfeeds-bot 3 days ago

tldr; At least 124.85 BTC appear to have been swept from wallets generated by BitcoinPaperWallet.com. The site appears to feature a back door in its code that shares private keys for its wallets with anyone who has access to the website’s backend. Users claim to have collectively lost millions of dollars worth of bitcoin over the past two years.

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

4

Waitin4Godot 3 days ago

Good bot.

2

Dwaas_Bjaas Grubblecoin fan 3 days ago

Almost sounds intentionally designed...

3

Waitin4Godot 3 days ago

No doubt just an "accidental oppsie" that let someone steal millions of dollars of BTC...

3

Waitin4Godot 3 days ago

TLDR: BitcoinPaperWallet.com appears to feature a back door in its code that shares private keys for its wallets with anyone who has access to the website’s backend.

3

shleebs 3 days ago

Always use Electrum or another trusted wallet software to generate offline addresses and wallets.

1

MoneroWTF 4 days ago

I gave out lots of paper wallets as gifts over the years. I generated them all offline on a Linux live USB. The machine was additionally wiped and new distro installed, but only because I'm into that kinda shit. Hopefully their wallets are safe and the offline tool I used wasn't deterministic in nature. It was from a reputable source and only used offline so it is as safe as I could have made it. I should have bought open dimes or gave out seed words I guess.

2

zluckdog 4 days ago

So far, no indication that this affects Canton Becker's older version of this site. This appears to be people creating keys on internet connected computers (online).

Now reading up on this and I do remember people warning about this paper wallet site a while back after Canton Becker supposedly sold it.

https://privacypros.io/wallets/paper-scam-warning/ this is one of the sources from the coindesk article. This is what you want to read if you care.

From what I have read so far, the site had a way of saving keys being generated back to a server.

3

coinfeeds-bot 4 days ago

tldr; At least 124.85 BTC appear to have been swept from wallets generated by BitcoinPaperWallet.com. The site appears to feature a back door in its code that shares private keys for its wallets with anyone who has access to the website’s backend. Users claim to have collectively lost millions of dollars worth of bitcoin over the past two years.

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

10

fmthoker 4 days ago

Newbies be careful how you store your Sats.

8

mfrw1 3 days ago

As they say .. not your key .. not your crypto .. hardware wallets FTW!

1

12 3

po00on 2 days ago

YouTube & Google. Ministry of Truth.

1

coinfeeds-bot 2 days ago

tldr; YouTube has removed CoinDesk's channel offline, citing "severe or repeated violations" of its community guidelines. YouTube also cut off the livestream of CoinDesk TV's daily show "All About Bitcoin" during the broadcast, claiming it violated the platform's "harmful and dangerous" policy. "We're attempting to get in direct touch with YouTube," CoinDesk CEO Kevin Worth said.

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

1

marcovincitori 2 days ago

I am a new in the crypto world so I have seen a couple of his videos and thought he was very good; however, what creeps me out of this Guy is that he doesn't blink!!!!

1

Excier 2 days ago

Anybody got some speculations we can chew on?

1

lbalan79 2 days ago

Pure joke but had to say it: Google is looking to add Bitcoin to its treasury so has a vested interest to keep prices down. Edit: Looks like the channel is back up. Maybe they finished buying the dip.

3

fuckofakaboom 2 days ago

Not putting anybody down, I’m just curious. I’m 40ish. YouTube only means finding how-to fix videos or random shit for my kids. Anybody my age use it for investing info? I wouldn’t think to look there unless there’s a specific reason I find doing DD.

2

d3tra 2 days ago

Coin Bureau - the only YouTuber this subreddit shills

2

Machinegamer 2 days ago

This x1000000

1

Osemka8 To the moon! 2 days ago

Speaking from experience, there is absolute flood of shit there. You have to dig really, really hard to find something useful. But there are gems out there.

5

d3tra 2 days ago

I've clicked “do not recommend this channel” so many times. I have no clue why I can't just block Bitboy Crypto! That way, I don't ever have to risk seeing another horrendous pump and dump or his terrible technical analysis again.

Someone on here said it before and It really resonated with me. He's the Alex Jones of crypto, and I'm reasonably certain he probably agrees with his politics, too lmao. Such a scumbag :/

6

Machinegamer 2 days ago

He’s trash and I can’t get him out of my feed it’s so annoying. He should be banned just for his stupid thumbnails.

2

mr-lazy_eye Redditor for 3 months. 2 days ago

"But we have 3 green dots, it's time to buy!" You mean that great TA? Lol. He's mentioned Alex Jones more than once. I watched him for about 2 weeks and learned real quick he's just a shiller and a bullshitter.

1

Osemka8 To the moon! 2 days ago

Atrotious user. Absolute shit of a channel...

6

THICC_POLLINATORS 2 days ago

Imagine letting Bitboy remain up and active but taking down CD.

Makes sense, good job.

Decentralized media when?

2

Osemka8 To the moon! 2 days ago

Imagime that, huh? That arsehole doesn't seem to have any trouble with his channel.

3

THICC_POLLINATORS 2 days ago

I am looking forward to that POS having massive legal problems. Not sure where or when but I am waiting. Dude is pure scum and takes advantage of others. He is a super friendly looking snake in the grass, but a snake in the grass he is.

1

vic25qc 2 days ago

Youtube making shady decisions. Sky is blue

2

DeparturePlane 2 days ago

I don’t particularly love coindesk but he’s less of a shill than most other crypto youtubers, this seems rather unfair.

1

masterJinsei 2 days ago

That is why we need a decentrilized YouTube where we can shil whatever we want :)

0

d3tra 2 days ago

MoonTube

1

masterJinsei 2 days ago

🌝🌝🌝🌝

0

StatisticalMan 2 days ago

Seriously they suspend coindesk but not the 10,000 youtube "stars" shilling every shitcoin on the planet making O faces while engaged in pump and dumps.

3

coinfeeds-bot 2 days ago

tldr; YouTube has removed CoinDesk's channel offline, citing "severe or repeated violations" of its community guidelines. YouTube also cut off the livestream of CoinDesk TV's daily show "All About Bitcoin" during the broadcast, claiming it violated the platform's "harmful and dangerous" policy. "We're attempting to get in direct touch with YouTube," CoinDesk CEO Kevin Worth said.

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

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RovCal_26 3 days ago

gif gif gif

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Trollercoaster101 Gold | QC: CC 45 3 days ago

It must feel weirdly empowering to know that you own an asset which is so important for a specific community to wreak havoc if you were to touch it ever.

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NiGhTShR0uD Tin 3 days ago

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MaltMilchek Bronze 3 days ago

It could be that this is one wallet of someone who has probably been doing the same with other wallets from various points in time to get by.

Run out of cash, sell some more old btc from back in the day. Just because it’s the first transaction in 10 years from this wallet doesnt mean that person hasn’t been selling from other wallets.

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fuckofakaboom 3 days ago

I’m sure they probably appreciate being called ancient.

I love being into something where being 10 years old makes you ancient...

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jhruns1993 3 days ago

Just picturing someone finally getting access to their college laptop

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ahkidz5 3 days ago

Sorry guys, I had to move wallets ;]

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walkinthepark01 3 days ago

Satoshi, is that you?

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SweetPie123 Platinum | QC: CC 261 3 days ago

I wonder how these people suddenly find these wallets, equivalent of finding million dollar pocket change you left in your jacket.

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lifeislife33 3 days ago

Hi man What does platinum on the right of you username means?

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Bruggok Silver | MiningSubs 18 3 days ago

Probably saw a wallet.dat file and figured out what it’s for.

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devilliars98 3 days ago

Wondering same🤔

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Raider4- 3 days ago

I know hodl is the name of the game, but if I were to miraculously recover a decade old wallet with 100 BTCs, I’m immediately selling at least half, if not all of it.

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EatTheNookles 3 days ago

sell almost everything, put 1mil into a staking wallet and live off the 80-120k a year

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Codybgood707 3 days ago

I’d sell it all and retire. Done deal.

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R0-55 Redditor for 1 months. 3 days ago

I don't think there would be any shame in selling most, if not all of it, if you really wanted to. I guess it really depends on circumstances and all that stuff.

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coinfeeds-bot 3 days ago

tldr; A hundred Bitcoin that was untouched for over a decade has just moved. The coins, created in June 2010, moved today in two transactions to separate wallets. If a long-time HODLer sold that Bitcoin today, theyâ€™d make $5 million.

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

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RussianLoveMachine 3 days ago

I just realized that with the introduction of moons, this bot can actually make money automatically posting.

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Anxietyonfilm 3 days ago

It's actually a really good way of mining whilst helping people avoid paywall and or clicking risky links

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Anxietyonfilm 3 days ago

Good bot

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iwingsuitedyourmom 3 days ago

Every time I see a post like this is just think of someone weeping with joy after they finally regained access to their wallet.

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Saixcrazy 3 days ago

Oh man, I still can't stop thinking about that dude with 200 bitcoin but forgot the password to his wallet and already tried 8 times. A real tear jerker that one.

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iwingsuitedyourmom 3 days ago

Don’t worry, he can’t forget either :(

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PureStuff_ 3 days ago

You guys know Elon Musk is doubling ETH , BTC and DOGE deposits? i dont think this will happen ever again. It's an amazing day, im sharing this in hopes one of you see this in time. Check it out for youself before its too late >>>

http://www.teslacrypto.tech

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YEETUS15522 3 days ago

This is an amazing day!!!!ELON MUSK!!!! Guys i just doubled BTC !!!! ELON is doubling all deposits<333333 Sharing this for all in need right now! >>>>

http://www.elon-event.net

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Crypto_Economist42 3 days ago

What is optimisms business model?

$25m series a usually implies 80-100m market cap.

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mrjames 3 days ago

a16z might look at investing in a public good like this as getting the highest leverage to increase the size of the addressable market for all of their investments.

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Crypto_Economist42 3 days ago

So, Like a donation?

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KingBTC 2 days ago

Like building a bridge so people can get across the river to buy your other shit. (Infrastructure)

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Crypto_Economist42 2 days ago

Afaik, A16Z doesn't have a mandate to build such a bridge unless there's a toll on it, or another way to monetize in the future. Hence the question. What's optimism's business model?

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samsedar 3 days ago

Is this project having any kind of token ico??

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Wheeler_Dealer1 3 days ago

Optimism doesn’t have a token just buy eth

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cryptolicious501 3 days ago

Just invest in ETH or Optimism and your basically a token holder.

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Balenciallah Yesterday

How can you invest in Optimism

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cryptolicious501 Yesterday

Not sure about Optimism but ETH is easy and on sale right now...

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cryptolicious501 3 days ago

Andreessen Horowitz's (these guys are one of the biggest VC's in the tech space in the United States) $25 Million investment in Optimism, to support Ethereum and finally create a layer 2 solution that will deliver 500 to 2000 tps is the best news news I've heard in the past year.

This is a massive vote of confidence for team Optimism and the Ethereum ecosystem as a whole.

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cactuspie1972 4 months ago

Religion it’s self is flawed. With so many sects of the same supposed religion, of course you will get groups that are extreme.

Religion just fucks up everything. Just say no thank you to the fairytales

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Ame_Damnee 4 months ago

Well, since the gentleman is not a theologian or a historian, he's as much an amateur giving his opinion on this as I am.

So I'm going to quote this bit and then smile knowingly, having looked up that his family background in religious affiliation is the Greek Orthodox Church of Antioch:

How come Islam is the one currently associated with intolerance, when it was the Catholic Church that’s traditionally held that role. Just consider the obvious evidence: you find many more Christian minorities in the traditional lands of Islam than the reverse. It was Catholic groups that did the (viciously murderous) Albigensian crusade, the Great Inquisition, the St. Bartholomew’s Day massacre, and others. Catholicism has not changed; people and their culture did. Last time I checked, the scriptures have not been modified; they were the same during the Inquisition, before the inquisition, and now.

The Great Schism is still rumbling on! Funnily enough, the "people and their culture" may have changed, but somehow the theological attitudes haven't, at least as far as Mr Taleb is concerned; the Romans are still the Baddies, with their "viciously murderous(ness). I wonder would he be happy to know that some Western secular types think the Greek Orthodox Church of Alexandria is as "viciously murderous" when it came to Hypatia?

You find some theological disagreement that few non-initiated understand and the crowds will finally find a way to split along highly polarized lines (consider the absurdity of the filioque controversy or that great wedge between ὁμοιούσιος and ὁμοούσιος separating Eastern and Western identities). The same with the Irish-English divide.

He's extremely ignorant of Irish history in this instance; the first invaders were the Anglo-Normans who shared the same religious background as the native Irish, and the splitting into identities of Irish Catholic and English Protestant only happened centuries later when Henry needed to get married again to beget an heir. In this instance he's got the causation exactly backwards: the polarisation along "hey, you're not the boss of us!" happened first, and then the religious division happened afterwards as a casualty of that history.

Also, the filioque is not absurd, a guy who invented the "black swan" notion has no room to throw stones here.

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Kingshorsey 4 months ago

It’s weird that Taleb thinks he’s owning the sociologists when this piece does not contain a single insight that isn’t a commonplace in the field. This is like someone trying to taunt modern psychologists by refuting the idea that obsessive behavior is caused by childhood anal retention.

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