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The price of BTC initially jumped 3% on the hacked tweet. That's $25bn+ of market cap. The irony is the SEC itself is probably now responsible for the largest crypto pump and dump in history.
how do we know if this website is spreading truth from the SEC itself, then?
And if it's actually important, a third source from a trusted media outlet wouldn't hurt either.
https://nitter.net/SECGov/status/1714020932509982771
...until the SEC's account gets hacked?
I love watching crypto people obsess about the fabled Bitcoin ETF. You'd think it was some kind of religious movement. "Oh glorious SEC, once thou bestowest thine blessing, Crypto shall rise a thousandfold! Glory to Bitcoin!"
More approved use means more standard financial industry products using BTC, means more overall volume/value in BTC, means higher price. Of course people holding BTC will like that.
Given that the original Whitepaper is titled: "A Peer-to-Peer Electronic Cash System" and a news article describing the 2009 bank bailout is literally baked into the very first block people celebrating slow morphing of Bitcoin into a traditional finance product is at least a little bit funny. Instead of a hedge crypto is now just effectively a correlate of the financial markets.
I love watching crypto people obsess about the fabled Bitcoin ETF. You'd think it was some kind of religious movement. "Oh glorious SEC, once thou bestowest thine blessing, Crypto shall rise a thousandfold! Glory to Bitcoin!"
It’s not irrational: an ETF would make it a lot easier to buy Bitcoin, which would increase demand. It’s funny though, because if Bitcoin would work as well as advertised, a traditional exchange shouldn’t offer this kind of advantage.
How? Serious question. What would it enable that hasn't already been possible for many years now?
POW crypto should be globally banned on ecological grounds.
The price of BTC initially jumped 3% on the hacked tweet. That's $25bn+ of market cap. The irony is the SEC itself is probably now responsible for the largest crypto pump and dump in history.
This is quite literally not a pump and dump by the SEC. A pump and dump would require the same entity to be doing the buying, pumping up, and then dumping the asset. The SEC didn’t buy, nor did it sell, nor did it pump up the price (someone pretending to be the SEC pumped up the price). Even assuming that the “largest pump and dump” claim is correct, at most, the SEC was used for that purpose and isn’t “responsible”…
Earlier quoted context omitted.
Twitter/X is not an authoritative source of news, regardless of whether it is an "official" account doing the Tweeting or not. Anyone can get a blue check by paying $8/mo.
We really really really need some legislation about governmental agencies using privately owned companies to announce things. There was already some for radio/early news, but the landscape has changed so much, and it bothers me a ton that these platforms are being used.
What kind of legislation? There's a whole lot of existing law that applies in that domain (both statute and Constitutional case law), but if you think we need different laws, it probably helps to at least present the general shape of the law you want rather than just that it should in some way touch impact government using private platforms for announcements.
Earlier quoted context omitted.
Twitter/X is not an authoritative source of news, regardless of whether it is an "official" account doing the Tweeting or not. Anyone can get a blue check by paying $8/mo.
We really really really need some legislation about governmental agencies using privately owned companies to announce things. There was already some for radio/early news, but the landscape has changed so much, and it bothers me a ton that these platforms are being used.