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  • Originally posted by jacoavlu

    permissionless digital transfer of value. No third party required. If you can’t see theres value in that you’re not trying
    I guess you'll have to explain it to me like I'm 5 yo. I can transfer value digitally, and with ease. Using a third party to do this is seamless. So, why do I need or even want BTC? What problem does it solve?
    Erstwhile Dance Theatre of Dayton performer cum bellhop. Carried (many) bags for a lovely and gracious 59 yo Cyd Charisse. (RIP) Hosted epic company parties after Friday night rehearsals.

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    • Originally posted by CM

      I guess you'll have to explain it to me like I'm 5 yo. I can transfer value digitally, and with ease. Using a third party to do this is seamless. So, why do I need or even want BTC? What problem does it solve?
      never said you needed btc. I simply made the point that there is a value proposition, bitcoin does something unique. Maybe it doesn’t mean much to you.

      can you send value to literally anyone, right now? Of course not.

      ever sent an international wire? ever had funds locked up by a bank? ever had to receive payment from someone you don’t know or maybe don’t trust?

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      • Originally posted by Tim

        I understand your point. I actual value permissions, especially the potential of a third party not actually having my permission. Recourse is a wonderful feature that has extremely high value.
        tradeoffs

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        • Originally posted by NapoleanDynamite

          "benchmarks" that I was referring to.
          what does "failed as a technology" mean? as long as it's a going concern it hasn't failed. anything between failure and adoption by a billion people means it's still too early? could be ten years or 100? this isn't an actionable prediction it's just noise. again i have no horse in this race, just pointing out why you shouldn't be surprised when folks react to big price swings down .

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          • Withdrawals halted at BlockFi just now. Makes sense - it was a bankrupt company that was bailed out by FTX, who is also now bankrupt.

            Bankrupt-ception.

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            • Originally posted by xraygoggles
              Withdrawals halted at BlockFi just now. Makes sense - it was a bankrupt company that was bailed out by FTX, who is also now bankrupt.

              Bankrupt-ception.
              I love it

              half believe the theory SBF was a plant

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              • This is comedy gold :

                Erstwhile Dance Theatre of Dayton performer cum bellhop. Carried (many) bags for a lovely and gracious 59 yo Cyd Charisse. (RIP) Hosted epic company parties after Friday night rehearsals.

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                • Originally posted by CM
                  that’s really good

                  hey Tim FTX was audited, and look at all the big names on the list of associated firms lol

                  Relative to other crypto exchanges, transparency and regulatory compliance were virtues for Bankman-Fried’s FTX. Here’s a glimpse of the exchange’s operations, according to its own general counsel, as of August 2022.


                  SBF was second largest donor to Biden campaign in 2020. Will be interesting to see if he ends up in jail.

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                  • Someone out there commented about the irony of needing billions of dollars of fiat currency, to save a business build around the idea that fiat currency is no longer necessary…. I found that mildly amusing.

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                    • Originally posted by Jaqen Haghar MD
                      Someone out there commented about the irony of needing billions of dollars of fiat currency, to save a business build around the idea that fiat currency is no longer necessary…. I found that mildly amusing.
                      the beautiful thing is there will be no bailout. Nature is healing.

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                      • Originally posted by jacoavlu

                        that’s really good

                        hey Tim FTX was audited, and look at all the big names on the list of associated firms lol

                        Relative to other crypto exchanges, transparency and regulatory compliance were virtues for Bankman-Fried’s FTX. Here’s a glimpse of the exchange’s operations, according to its own general counsel, as of August 2022.


                        SBF was second largest donor to Biden campaign in 2020. Will be interesting to see if he ends up in jail.
                        What’s the friends and family rate for a blind eye these days?

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                        • Originally posted by xraygoggles

                          The funny thing about this whole year of crypto's meltdown is that almost everything has imploded: algo stablecoins; gargantuan exchanges with supposedly ethical executives at the helm; degen hedge funds; prop trading desks; crypto VC firms; publicly traded BTC-mining companies; all crypto currencies; countries (El Salvador - at this point Bukele needs to be ceremoniously tossed up and over - into the volcano, for bankrupting his country by grifting and daytrading BTC on his phone, then tweeting about it).

                          Everything has self-immolated - except Tether. So far...
                          If Tether goes, crypto is pretty much over. At that point, either everything goes to 0 or whatever survives could provide generational wealth and will be extremely cheap at that moment. Just use the lindy principle on what to buy. The biggest problem will be how to buy it.

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                          • Originally posted by MMJB LLC

                            If Tether goes, crypto is pretty much over.
                            if you want in there are still slots available in the tether bet. Does it collapse by 7/1/24 or no?



                            proceeds to charity

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                            • Originally posted by Hank

                              Surely you aren’t suggesting that crypto is a stable store of value, are you?
                              Lol....no. It is a means of holding assets outside of the current financial system with several characteristics of money, portability, divisibility, scarcity. I wouldn't say dollars are a great store of value either. To me, its biggest values are the portability and the ability to function outside of the current financial system, which probably isn't going to last much longer.

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                              • WCICON24 EarlyBird
                                Originally posted by jacoavlu

                                if you want in there are still slots available in the tether bet. Does it collapse by 7/1/24 or no?



                                proceeds to charity
                                Lol...it has survived several near death experiences already so I don't want to bet against it. That said I firmly believe it is a total ponzi and this ftx debacle is the best chance to bring this fraud down in a good while. If so, it may not last till the end of the year. Fingers crossed.

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