They nerfed this thread =(
SEC has not approved Bitcoin ETFs [fixed]
441–450 of 518 posts
Re: SEC has not approved Bitcoin ETFs [fixed]
#442Earlier quoted context omitted.
How is the SEC responsible for fraud committed on Twitter?
By using Twitter as a communications channel for official announcements, they are at least legitimizing it. If they have any reason to be concerned about the security of their account (and it looks like they should have at least from now on), they should arguably reconsider their choice of platform.
Do they make official announcements on Twitter? They have an account but what do they use it for?
Re: SEC has not approved Bitcoin ETFs [fixed]
#443Earlier quoted context omitted.
Imagine your bank balance is suddenly worth half as much because someone wrote a tweet. How is cryptocurrency still taken seriously?
So im guessing you feel like tesla shouldn’t be taken seriously as well?
Tesla's stock probably shouldn't be taken seriously.
Re: SEC has not approved Bitcoin ETFs [fixed]
#444Earlier quoted context omitted.
To some extent that's just how bitcoin works [1] To your last question, bitcoin is just digital gold. Unlike ethereum which is inflationary. [1]: https://river.com/learn/terms/c/change-output
Meanwhile in the real world we often find new deposits of gold, and if we ever make it to space presumably we’ll find a whole lot more of it (perhaps infinite amounts).
Yea, its a bug, not a feature.
Re: SEC has not approved Bitcoin ETFs [fixed]
#445The 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.
Who cares about $25bn? These guys hacked the SEC, made huge announcement tweet, and only got a 3% move from that. More over, they only had a 10 minute window to close whatever positions they had before BTC crashed through it's pre-hack price. There is a fair chance that they actually lost money on this play, lol.
Should have tweeted something like filing charges against Ethereum for being an unregistered security.
Re: SEC has not approved Bitcoin ETFs [fixed]
#446Earlier quoted context omitted.
Are we seriously suggesting that the password was intentionally leaked? The crackback against twitter and Musk with even a shred of evidence would be devastating. The idea that anyone's creds would be intentionally leaked is unbelievable to me, much less the creds of a US govt institution.
Yeah, and in fact, it was my first thought. He's an emotional man-baby with a God complex. Leaked credentials? Probably not. Those are hashed because competent engineers created the platform before he got there. Made the account easier to be hacked? Yes, probably. That would be my assumption. Changed password, changed MFA, changed owner e-mail, etc. They no longer have a real support team, but I'm sure the support me…
Really, that was your first thought? I hope he's paying you rent.
Re: SEC has not approved Bitcoin ETFs [fixed]
#447The 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 is the SEC responsible because they got hacked? Are you responsible for fraudulent charges on your credit card (you'll contrive some yes, but the answer is no)?
Generally I would expect a higher degree of security from an agency with a $2bn budget whose primary purpose is the integrity of communications about financial markets than an average person with a credit card.
Certainly you will admit at some size, responsibility and level of funding the organization should take responsibility for protecting itself from hacks. If the Department of Defense got hacked and nuclear secrets were leaked, I certainly hope people would get fired rather than sympathized with.
Re: SEC has not approved Bitcoin ETFs [fixed]
#448This is so wild. Assuming it was financially motivated, wouldn't the involved party stand to benefit more by shorting and posting that the ETF was denied?
And that's why the most likely answer is that the message was queued to go out and sent prematurely.
Perhaps. There were an odd couple of "likes" made by the SEC X account during the same time period though (they've since been "unliked"), and Chair Genlser + a follow up post by @SECGov both specifically say that the account was compromised.
Re: SEC has not approved Bitcoin ETFs [fixed]
#449Has anybody else poked around in a bitcoin blockchain block explorer recently to look at the individual transactions of a block? Honestly I find it kind of suspicious but I could easily be missing something. I see multiple transactions spend more on fees than the amount exchanged in the transaction. A number of transactions looked enormous but turned out to be some form of washing. E.g address X sends $100MM worth of…
Perhaps a good starting point is spending a few minutes investigating how bitcoin works, perhaps with ChatGPT as a resource. You should attempt to understand it before forming an opinion and asking leading questions. Bitcoin uses a UTXO model, a recipient address is specified for the remaining funds that are not intended to be spent. Similar to how you pay for a $20 item with a $50 note, you (recipient) receive $30 i…
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Re: SEC has not approved Bitcoin ETFs [fixed]
#450Is 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?
ETF's are so pervasive because they're so easy. VIX futures can be held, but people still buy VIXY and similar products. You can buy literal physical gold, but people still buy GLD et al. And it hardly matters that wrapping it in an ETF makes it potentially really weird (like how GLD and other gold ETFs are only barely nominally like holding gold, and VIX ETFs often hold cash-settled futures based on the value of a f…
This all reminds me of someone explaining the reason World War 1 started.