Oso planning to go pro
Can someone explain to me how the volume of BTC can be 44.8 Billion, when there are only 21M bitcoins possible?
https://support.coinmarketcap.com/hc/en-us/articles/360043395912-Volume-Market-Pair-Cryptoasset-Exchange-Aggregate-
Thanks, but that didn't help . I am ignorant on this subject
Tangentially related....https://www.cnbc.com/2021/06/23/john-mcafee-found-dead-after-spanish-court-oks-extradition-for-tax-crimes-.html"Eccentric antivirus software company founder John McAfee was found dead of suspected suicide in his prison cell in Barcelona, Spain, on Wednesday, shortly after Spain’s National Court approved his extradition to the United States to face criminal tax evasion charges, Reuters and the Associated Press confirmed.According to the indictment, McAfee earned millions of dollars in income from promoting cryptocurrencies, consulting work, speaking engagements, and selling the rights to his life story for a documentary."
huh, I'd have thought he choked to death on his own dick.
This doesn’t sound good …From the NYT:The “Internet Computer” is an ambitious crypto project by the Dfinity Foundation, a Swiss nonprofit organization with big Silicon Valley backers like Andreessen Horowitz. Last month, it was the darling of the crypto world when it held a bonanza of an initial coin offering, valuing its token, known as ICP, at tens of billions of dollars in market cap. It’s a different story now, after ICP has lost more than 90 percent of its value.Even in the famously volatile crypto market, ICP stands out. The stunning climb and crash has people asking what really happened — and who may have profited.“Something went wrong,” said Miguel Morel of Arkham Intelligence, a crypto analysis firm that tracked ICP tokens through the blockchain. In a report shared with DealBook, Arkham noted that “a token dropping over 90 percent in the first month after launch is highly unusual.” Arkham said that it found 44 “probable insider addresses” that deposited 10 million ICP tokens worth over $2 billion at the time to exchanges, which coincided with significant drops in the price of ICP. Small investors were stuck with a complicated process and limited customer support, the report claimed.“Dfinity did not follow the playbook of other successful projects,” Arkham’s report said. “Instead it appears they quietly allowed the treasury and insiders to send billions of dollars of ICP to exchanges, while making it extremely difficult for their longtime supporters to access the tokens they were promised.”Dfinity blamed bad actors on social media for undermining its project. “Day traders with alternative agendas and unethical crypto projects have used Reddit and Twitter to confuse the public,” it said in a statement. It denied that the token claim process was overly technical, and said the investors who had difficulties got the support they needed. A Dfinity spokesman, Michael Lee, said that the company was taking the “high road” and focusing on developing its Internet Computer project rather than rumors by potential saboteurs.
“Something went wrong,” said Miguel Morel of Arkham Intelligence, a crypto analysis firm that tracked ICP tokens through the blockchain. In a report shared with DealBook, Arkham noted that “a token dropping over 90 percent in the first month after launch is highly unusual.” Arkham said that it found 44 “probable insider addresses” that deposited 10 million ICP tokens worth over $2 billion at the time to exchanges, which coincided with significant drops in the price of ICP. Small investors were stuck with a complicated process and limited customer support, the report claimed.“Dfinity did not follow the playbook of other successful projects,” Arkham’s report said. “Instead it appears they quietly allowed the treasury and insiders to send billions of dollars of ICP to exchanges, while making it extremely difficult for their longtime supporters to access the tokens they were promised.”
Perfect!U.S. senator encourages people to buy Bitcoin for retirementhttps://seekingalpha.com/news/3711103-us-senator-encourages-people-to-buy-bitcoin-for-retirementU.S. Senator Cynthia Lummis (R.-Wyo.) said Tuesday that she encourages average investors to purchase Bitcoin as part of their retirement strategy.Speaking at the CNBC Financial Advisor Summit, Lummis also pushed for the Federal Reserve to launch its own digital currency. She argued that this would help keep the U.S. dollar as the world's reserve currency. Detailing her Bitcoin investment advice, Lummis advocated the strategy as a hedge against inflation, saying "there's no way we cannot debase" the U.S. dollar over time.As to her own holdings, Lummis said she had five Bitcoin. She said she bought her first one for $330 in 2013. "For me, I see bitcoin as a great store of value," she said. "I buy bitcoin and I hold bitcoin."Lummis described Bitcoin holdings as a good way to diversify a retirement portfolio."I don’t want everybody putting all their money in Bitcoin just like I don’t want everybody putting it in dollars and putting it under a mattress," she said. "I like diversification."
I mean, she is absolutely right.
So you think it's good that an elected official (any politician, regardless of party) who has no more investing experience than you and I have advises people to make speculative investments (or any specific investment at all, even if not speculative)?
She didn't "advise", she "encourages people". I see nothing that wrong with her statement. It wasn't legislation, it was her personal opinion on an investment vehicle in statements at a conference. There are far crazier voices out there about plenty of investment vehicles and she spoke about diversification. I dont think people are more likely to buy or invest based on their senator's thoughts than they are whatever random celebrity is high on Bitcoin or real estate
OK, Wags, this certainly isn't a hill I'm willing to die on. If you and Hards think politicians encouraging folks to buy specific investments is cool, then who am I to say otherwise? Have a good one.
I guess it just comes down to a free will question. There are so many voices out there, with varying levels of character and credibility, encouraging or even down right commanding people to buy this, invest that, etc…that if you can’t make decisions on your own and need your Senator to validate ideas, welp. Would you have an issue if she, again at a financial summit, stated her belief that the SPY would continue to rise for the next 5 years due to job growth/economics/trade or what have you, being that this was a discussion, and she would encourage people to not be afraid to invest in equities? If yes, then fair enough, but variations of that happen all the time from elected officials. Bitcoin is just touchy right now
I would rather elected officials not make specific investing advice, yes. “Buy equities” is borderline IMHO. Buy a specific stock or a specific crypto … for me, personally, I’d rather they not do that.For one thing, they are beholden to all manner of outside influences. A U.S. senator has a LOT of power, and a lot of real, perceived or potential conflicts of interest.But yes, ultimately, each investor is in charge of his or her own portfolio. I can’t dispute that.
Lol, I wonder if someone with a (D) in front of their name had said this you'd have thought it was so bad.
And... China makes crypto illegalhttps://techcrunch.com/2021/09/24/china-says-all-cryptocurrency-related-transactions-are-illegal/