Bitcoin and cryptocurrency

www.smh.com.au

Watchdog takes legal action against Aussie crypto platform Block Earner

In legal documents filed on Tuesday, the regulator alleged that several products offered Block Earner required a licence to operate.
www.smh.com.au www.smh.com.au

The corporate regulator has launched legal action alleging crypto platform Block Earner has been providing financial products without the proper licence, exposing customers to risk and leaving them without appropriate protections.
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news.slashdot.org

Harvard Paper To Central Banks: Buy Bitcoin - Slashdot

A new working paper by Matthew Ferranti -- a fifth-year PhD candidate in Harvard's economics department and advisee of Ken Rogoff, a former economist at the IMF and the Federal Reserve Board of Governors who is now a Harvard professor -- has caused a minor splash. From a report: In it, Ferranti...
news.slashdot.org
 
Bahamas reels from FTX collapse: ‘Crypto was going to be our way out’ (ft.com, subscription or registration may be required)

Sam Bankman-Fried chose a slice of prime Bahamas real estate to build the new headquarters of his fast-growing cryptocurrency exchange FTX, posing with a shovel alongside the Caribbean country’s prime minister in a shared embrace of the huge potential for digital assets.

Just seven months later, FTX’s spectacular collapse has sent shockwaves through an industry that promised to revolutionise finance, and shattered the credibility of the Bahamas — which put the crypto boom at the heart of its economic strategy — as a jurisdiction that properly monitors digital asset businesses.
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The collapse of FTX, once valued at $32bn, has left venture capital firms including Sequoia Capital nursing big losses, along with potentially more than 1mn creditors. Many are ordinary investors, lured in by the opportunity to make a quick profit. The coastal site that was to be FTX’s HQ now lies abandoned, strewn with rubble and overgrown hedges.
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FTX was a recent arrival to the Bahamas, one of the wealthiest Caribbean countries, setting up there just over a year ago after moving from Hong Kong. This switch was central to the Bahamas’ crypto bet as it sought to diversify away from offshore banking, which in large part has uprooted to rival jurisdictions such as the Cayman Islands.

The Bahamas “was looking for other options, and here came crypto”, said Jack Blum, a defence attorney who serves as a senior adviser to the Tax Justice Network, an advocacy group.

It proved successful, helping spearhead the island nation’s push for broader digital asset investment. Just days before FTX collapsed, rival exchange OKX announced that the Bahamas would be its new regional hub after securing registration from its regulators.
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www.atr.org

FTX Bankruptcy Exposes ESG’s Flaws - Americans for Tax Reform

One silver lining to FTX’s demise is that it highlights the fissures in environmental, social, and governance ratings. Virtue signaling harms shareholder value, and in the case of FTX, acts as a façade for duplicitous business activity. ESG ratings agencies such as S&P Global, MSCI...
www.atr.org www.atr.org
 
Sam Bankman-Fried and Zixiao "Gary" Wang
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Such appropriate names... one dickhead started a crypto ponzi scheme, and then lots of bank men got their savings... fried.
Look at that grinning big hair SOB... I do hope some jail inmates he ruined will tear him many additional ass holes.

Bitcoin & blockchain: how I stopped worrying and got rich - at least until I was bit by a con man with a whole chain of bollocks...

EDIT : somebody made one of the best play on word ever, related to that whole siliness:
Craptocurrency.
Creeptocurrency would also be quite appropriate.
Also cryptofallacy when you think about it.

And bored apes NFTs are probably schemponzis...
 
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So that's the story of a bank man and a dickhead, who got their savings fried after creating a big ponzi scheme fueled with a bit of con craptocurrencies and bollockschain...

Yeah, it all makes sense now.
 
Aptly, my Chrome browser overlaid one of the above You-tube titles to read, 'Are We Ponsible ?'
;-) ;-) ;-)
Sorry, tried to attach MIDI file with wry theme of local, historically hapless soccer team, "I'm for-ever blowing bubbles..."
 

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Orionblamblam said:
muttly said:
"This coin is worth a million dollars, why because I say so."
Click to expand...
Thats true of *all* money. Even a bar of solid gold is only worth what people agree that its worth.
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That's true of *all* fiat currency. Gold is a commodity and so its value is tied to decorative or industrial applications.
 
Orionblamblam said:
muttly said:
"This coin is worth a million dollars, why because I say so."
Click to expand...
Thats true of *all* money. Even a bar of solid gold is only worth what people agree that its worth.
Click to expand...
Yes, but there's a world of difference between an imaginary currency guaranteed by the US Government and one invented by an entiltled rich kid 'crypto bro'.
 
overscan (PaulMM) said:
Orionblamblam said:
muttly said:
"This coin is worth a million dollars, why because I say so."
Click to expand...
Thats true of *all* money. Even a bar of solid gold is only worth what people agree that its worth.
Click to expand...
Yes, but there's a world of difference between an imaginary currency guaranteed by the US Government and one invented by an entiltled rich kid 'crypto bro'.
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You assume that the US government is in some way an improvement on an entitled rich kid. This is an arguable position. Other governments have demonstrated a financial wisdom no better than, and probably worse than, some fraudulent crypto bro. The US government has blown many trillions of dollars on terrible ideas and have let them continue for *generations,* something a crypto bro wouldn't be able to pull off.

With luck some other unaccountable billionaires will manage to pull off asteroid mining. With that, expensive metals such as gold and platinum will plummet in value and I'll finally be able to plate my crapper in 24k, though the economic chaos will otherwise be both impressive and glorious.
 
Archibald said:
A Walmart - bitcoin alliance... what could possibly go wrong ? :rolleyes:
:rolleyes:
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Considering that Walmart has proven pretty effective at being a profitable money-making venture, maybe they'll make this work. Successful businessmen are certainly capable of gettign suckered or makign unlucky calls, but in matters such as this they're a more promising group than, say, wine aunts or government bureaucrats.
 
"Unexpectedly." About as unexpected as a Chinese tech billionaire or a Russian oligarch "unexpectedly" falling down the stairs and landing on some bullets.

nypost.com

Crypto founder Tiantian Kullander unexpectedly dead at 30

Tiantian Kullander, the co-founder of Hong Kong-based digital asset company Amber Group, died in his sleep on Nov. 23.
nypost.com nypost.com
 
I heard it once said that patriarch Joe Kennedy cashed out right before the Crash of ‘29 when he overheard his shoe-shine boy talking stocks.

Bitcoin coming to Wal-Mart was a similar marker: you know it’s over if the poors think they can get in on the action. Can’t have that!
 
www.telegraph.co.uk

National Grid avoids activating emergency blackout plan despite tight energy supply - live updates

National Grid was poised to pay households to cut their power demand tomorrow to avert power cuts as it prepared to activate its winter emergency electricity plan for the first time.
www.telegraph.co.uk www.telegraph.co.uk

The fallout from the collapse of crypto exchange FTX has claimed another victim as BlockFi filed for bankruptcy.

The crypto lender, which allowed users to earn yield by placing idle cryptocurrencies on the platform, said on its website it had "voluntarily filed petitions for Chapter 11 reorganization".

It said:

This action follows the shocking events surrounding FTX and associated corporate entities and the difficult but necessary decision we made as a result to pause most activities on our platform.
Since the pause, our team has explored every strategic option and alternative available to us, and has remained laser-focused on our primary objective of doing the best we can for our clients.
These Chapter 11 cases will enable BlockFi to stabilise the business and provide BlockFi with the opportunity to consummate a reorganisation plan that maximizes value for all stakeholders, including our valued clients.
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The collapse comes a little over a fortnight after the fall of FTX, the crypto exchange valued at $32bn (£26bn) just months ago, leaving more than a million creditors out of pocket.
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