Bitcoin

[Monseratto]

[kagalingan]

my homies posted
hindi ko pa din naiintindihan bitcoin paano kumikita. Hindi pa rin ako nagbasa eh.

Yesterday at 10:28 PM
fico

That particular case was another peg in a long history of failures, nothing new.

That was an example of what can happen when you try to create a "stable" coin, but that is not the main problem (tangent issue).

Is like humans are incapable of learning from past mistakes, cursed to repeat them over and over, but now is digital .. :banghead:

What people should be focusing on is the end of whatever freedom is left with digital currency:

- Individual micro control
- Programmable money
- Omnipresent taxation
- Over dependency on the power grid

"Cryptocurrencies" are not even close, as you can see, to money or currency. They are very volatile and intangible trading instruments that served their purpose to sell the idea of "digital currency" (if only in name).

Myopic views ignore everything else (another curse), oblivious to what the end-game is.

What makes anyone think that the government won't outlaw anything competing with their digital currency? It has happened before, we have international precedence.

Don't we know the government after all this time? Do we learn to think ahead or we go with the flow?

Now we know they are moving not to a CBDC (central bank), but to "political" digital money controlled by the US Treasury (ECASH != blockchain).

Don't focus on one thing at the expense of everything else (priorities), or you could end up ignoring reality .. :inpain:

There will always be a few that benefit from the misery of everyone else, so you need to be smarter .. :cool:
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Crypto advocates have worried for months about US president Joe Biden’s $1 trillion infrastructure bill, which includes new tax reporting requirements for “digital assets” like cryptocurrencies and nonfungible tokens (NFTs).

As legislators inched closer to passing the bill, digital rights advocates lobbied hard against a provision that requires “brokers”—a vague term that could include developers, miners, and middlemen—to disclose identifying information about their clients or users, arguing that it threatens individual privacy and thwarts the anonymous design of crypto.

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TerraUSD (UST), a digital token with a $16 billion market capitalization that is designed to maintain a 1:1 peg with the dollar, known as a stablecoin, nosedived over the past 24 hours. Its price fell below $.65, before somewhat recovering to $0.93 as of this writing. In other words, UST failed spectacularly at the one thing that it was supposed to do - maintain parity with the dollar.

The episode is reminiscent of when the Reserve Primary Fund, a money market mutual fund with $68 billion in assets fell from $1 per share net asset value to $0.97 during the financial crisis after Lehman Brothers filed for bankruptcy in 2008

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Yesterday at 11:49 PM
Makrosky
*fico it is also worth keeping in mind that cryptocurrencies are also not as independent and censorship-resistant as they might want us to believe. And not because of the governments, but because of the developpers/miners/exchanges.

An example of this is the Ethereum hard-fork that completely perverted the "code is law" and "the blockchain is immutable" principles. An absolute shame that made me rethink deeply about all the cryptocircus. We are still far to have something close to what they claim it is.

There is money to be made for sure. But at the end you own nothing. Protected by nothing. Very 2030. You are not even safe from the developers, they will save their skin and dump you if something goes wrong. Same for exchanges.

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40 minutes ago
fico
- Liquidity refers to the ability to quickly and cost-effectively convert assets into cash.

- While Bitcoin and other cryptocurrencies also trade 24 hours a day around the globe, they are far less liquid than other asset classes.

- This means that transacting in Bitcoin or exchanging it for cash can come with a cost and/or time delay.

*Makrosky You read a lot of "best-case scenario" information online, but there's an underbelly that most people haven't started

[uls]

hindi ko pa din naiintindihan bitcoin paano kumikita. Hindi pa rin ako nagbasa eh.

paano kumikita ang bitcoin o paano kumikita sa bitcoin?

kung ang tanong mo paano kumikita ang bitcoin that's the wrong question

coz bitcoin is not a company

[uls]

another stablecoin lost its peg

$DEI

[uls]

crypto bull market





crypto bear market

[uls]

ETH

[kagalingan]

mahirap talaga yung risk ng hacking ang bilis makawala ng tiwala.

[uls]

kaya ko pinost yan kasi psychological level ang $1500 for ethereum

walang kinalaman sa hacking

[kagalingan]

pero di ba kaya bumagsak cryptocurrency dahil sa hacking hindi na makarecover.

[uls]

madami na nahack, madami na nabiktima ng rug pull

(rug pull -- may mga crypto project scam talaga from the start

devs issue tokens and people buy them then the project is shut down)

pero as long as may internet di na mawawala ang crypto

it's here to stay

[uls]

bitcoin mining rig powered by cooking oil

https://twitter.com/mrcdbrown3/statu...73796410630145

[uls]

[uls]

the thing about crypto is you're anonymous but everyone can see what's going on

here's someone who hacked BNB chain and was able to get 2 million BNB (worth around $600M)

the hacker was able to move 20% out of BNB chain into other chains via bridge

but 80% is still in BNB chain and BNB chain is suspended now



the assets on other chains are out of reach of BNB chain

[uls]

even manila bulletin picked up the news

BNB Smart Chain halts operation due to irregular activity – Manila Bulletin

BNB Smart Chain halts operation due to irregular activity
Published October 7, 2022, 7:52 AM

BNB Smart Chain (BSC) is a public blockchain network launched by the cryptocurrency exchange Binance. It supports smart contracts and decentralized applications (DApps). BSC runs alongside the BNB Chain, previously Binance Chain.

At 6:19 today, the official BNB Chain account posted a tweet informing the public that they have temporarily paused BSC due to irregular activity. In the same thread BNB Chain also assured the public that all funds are safe.

“Due to irregular activity, we’re temporarily pausing BSC. We apologize for the inconvenience and will provide further updates here. Thank you for your patience and understanding.”

“To confirm, we have suspended BSC after having determined a potential exploit. All systems are now contained, and we are immediately investigating the potential vulnerability. We know the Community will assist and help freeze any transfers. All funds are safe.”

“We want to thank all node service providers for their quick and attentive response.”

According to DefiLlama, BNB Smart Chain has more than 5 billion dollars of Total Value Locked to its ecosystem.

As of 7:20 AM, the official account BNB Chain posted a new thread thanking all those who help resolved the issue.

“Initial estimates for funds taken off BSC are between $70M – $80M. However, thanks to the Community and our internal and external security partners, an estimated $7M has already been frozen”

“We are humbled by the speed and collaboration from the Community to freeze funds. Thank you to everyone who helped and gave their support.”

Applications that run on top of BNB Smart Chain are also halted. Users are also unable to transact or withdraw their funds due to this event.

[uls]

CEO ng Binance nandito sa Pinas ngayon

[uls]

example of a reddit NFT avatar



Reddit NFT trading volume hits all-time high as wallet holders near 3 million

According to data provided by Polygon and Dune Analytics, the trading volume of Reddit nonfungible token (NFT) avatars has eclipsed $1.5 million in the past 24 hours. The increase represents over one-third of the collection’s cumulative trading volume of $4.1 million since launch. At the same time, the daily sales volume of Reddit NFTs also witnessed a new all-time high of 3,780 digital collectibles changing hands.

Reddit avatars are created by independent artists and are minted as NFTs on the Polygon blockchain. Users can purchase such collectibles on Vault, Reddit’s cryptocurrency wallet. They can then be worn and displayed as profile pictures when users create content on the popular social media platform.

[uls]

After being purchased, the NFTs can be bought and sold on secondary markets such as OpenSea. While some collections witness little to no bids, others have floor prices above $2,000. The highest price for a Reddit NFT current stands at $24,149, or 18 Ether (ETH).

example of reddit NFTs being traded

the prices are denominated in MATIC (the token of the Polygon network which is connected to the ethereum blockchain)

here someone bought 4 reddit NFTs for 2K to 3K each and 3 days later sells them for 8K to 19K+ each



exchange rate matic to USD: Polygon USD (MATIC-USD) Price, Value, News & History - Yahoo Finance

less than $10K puhunan, sold for around $55K

[ale828]

Bitcoin price drops below $16K after FTX-Binance deal falls through

Crash!

Time to Buy! hahaha

[misseksaherada]

Kahapon nga grabe bagsak, pero si Maya down ngayon naghintay pa ako mukhang ayaw nila may mag-Buy.. [emoji28]
Kanina pa unavailable nung nag-check ako 10AM ata..
Or pwede din yung Mobile Dev nila may issue deployment nung promotion para sa 11.11..

[uls]

been watching this unfold

FTX balance sheet was leaked

FTX is (was) the number 2 or 3 crypto exchange

the leak showed something wasn't right resulting in the perception that FTX is insolvent

FTX has native token called FTT

Binance CEO posted on twitter that Binance will unload all its FTT holdings

that caused a run on FTX (panic withdrawals by customers)

FTX didn't have enough funds to fulfill withdrawals

Binance CEO announced it will take over FTX but will do due diligence first

Binance decided not to pursue