The market manipulation and legal drama for crypto is truly the most entertaining thing in finance. The only sure bet are popcorn futures.
SEC has not approved Bitcoin ETFs [fixed]
221–230 of 518 posts
Re: SEC has not approved Bitcoin ETFs [fixed]
#222Earlier quoted context omitted.
Tomorrow your bank could cut you off from your own money because you protested the government[1], and what could you possibly do? Having the freedom to truly own your own money and investments is valuable in and of itself, no matter how much crypto "devolves" towards traditional finance in other regards. [1]: https://www.nytimes.com/2022/02/22/world/americas/canada-pro...
Apart from some edge cases, Western democracies have quite solid property rights upheld also by the judicial system. But yes if you’re in Russia or China then this argument is moot. They have much less property rights. However, Bitcoin is also not a solution because there is no point in owning Bitcoin if you fell trice out of a Russian window or are sentenced to a labour camp or to the death penalty in China for "fra…
Not only Russian or Chinese, you should open the bracket for any individual, organization or country that the western democracies will deem bad in their view. Or even have the any doubt of association with them. For example we can talk to many Muslims in the UK where no banks will grant them accounts (close account without notice) and how safe they feel [1]
Not that I am a crypto supporter, but the current western based financial system hegemony is good until you are have wrong name, religion, country... etc.
[1] https://www.bloomberg.com/news/features/2023-08-16/british-m...
Re: SEC has not approved Bitcoin ETFs [fixed]
#223[deleted]
Re: SEC has not approved Bitcoin ETFs [fixed]
#224Is this fabled Bitcoin ETF really going to be the "to the moon" moment that everyone in the ecosystem seems to be expecting? From personal experience, I can't think of anyone who wants to buy Bitcoin but hasn't been able to by now. It takes a few clicks on Coinbase/Robinhood or a similar exchange. Plenty of 401k/IRA managers (including Fidelity) offer it as an option. So what exactly changes once this ETF is live?
There are two kinds of people who declare a crypto is going "to the moon":
- The ones who don't believe it, and sell off their inflated coins after the price jumps
- The ones who do believe it, and are the rubes the first group is counting on
Re: SEC has not approved Bitcoin ETFs [fixed]
#225Earlier quoted context omitted.
Web3 is the crypto nonsense. It was a rebrand attempt. https://en.wikipedia.org/wiki/Web3
From this forum we shall organize the great retaking of “Web3” for the 3D paradigm it was always meant to be. It’s in the name!! It’s sad that blockchain went the way it did, because it’s probably a great technology when you don’t expect it to revolutionize the entire internet.
Blockchain is not a technology in the sense of being a better "how" for some existing problem. blockchain is before anything else, a social contract based on the premise that everything humans care about ('value') really does boil down to "voting with money," and thus requiries enforcement of such economic consensus through technology. It is sufficiently removed from expectations people normally have about how they relate to one another that it would require quite a revolution indeed to be adopted in the capacity in which it is intended to function as intended, that is, to become the ultimate source of truth for every transaction on Earth.
It's a back door attempt to fundamentally rewire how value is routed through society, and in the abstract this _might_ be a good thing (perhaps too generous with that 'might') in practice it cannot possibly happen due to physical constraints on consensus formation at the global, realtime scale that it would have to happen. As a result shortcuts are taken (or appear organically, i.e. exchages) in the form of centralized nodes of consensus settlement (what the promoters like to call Layer 2, sharding, or similar), and it's the people controlling these centralized nodes who end up becoming the new kings of this "revolutionized" system, the trust-me-bro's of trustlessness. I've met some of them, and they are not people who I would ever want to have anyone I care about to be under the thumb of.
Re: SEC has not approved Bitcoin ETFs [fixed]
#226Why do government agencies even have accounts on proprietary walled-garden online platforms? Those are for purposes like celebrity publicists, influencer brand promotion, disreputable mob behavior, and astroturfing.
The SEC doesn't need brand promotion, nor to be caught up in nastiness like pervades X/Twitter. The SEC already has the authority, they do their job with it, and presumably they value respectability.
Earlier Web showed us how to do this right, before commercial entities steered the influx of the newbie masses back towards being captive to proprietary walled gardens.
Stop choosing proprietary walled gardens to endorse with the government seal of approval.
Put press releases on your .gov open-systems Web site. Optionally do supplementary alerts with an open-systems email announcements list and/or Atom feed. Let journalists, citizens, and lawmakers take it from there.
Re: SEC has not approved Bitcoin ETFs [fixed]
#227I have never looked at BTC as a quick trading rather a long investment, I still have many BTC since 2010 and never sold it.
Re: SEC has not approved Bitcoin ETFs [fixed]
#228Earlier quoted context omitted.
Barely makes an impression in the parade of crime that is web3isgoinggreat.com/
Can you explain how web3 is responsible for all the crypto nonsense for a layman?
Blockchains are a fun tools, i really like some ideas (ipfs, etherium and solidity), but i want to separate it from the cryptocurrency nonsense. Luckily, almost all grifters and zealots started talking about "web3", to re appropriate the term (like they did "crypto", which mean cryptography for old and cybersec people).
Hence i associate web3 with the grift, and blockchain with the technology. Probably gp does the same.
Re: SEC has not approved Bitcoin ETFs [fixed]
#229Reminds me of when Eli Lilly's Twitter was hacked to falsely proclaim free insulin.
Re: SEC has not approved Bitcoin ETFs [fixed]
#230Earlier quoted context omitted.
https://help.twitter.com/en/rules-and-policies/profile-label... "The grey checkmark indicates that an account represents a government/multilateral organization or a government/multilateral official. Eligibility criteria to receive a complimentary grey checkmark are listed below. Additional government and multilateral accounts can receive grey checkmarks through Verified Organizations. Eligible government organization…
Thanks for the quote! Lol, I can't believe this is really what they ended up with: multicolored stars to indicate different things? I thought it was a joke at first, but no, that's really how it works now. What a strange world...
That’s why Tumblr gives you two checkmarks, and lets you pick the color. E.g. https://www.tumblr.com/amtrak-official