Not only should the economy just be a big casino, power should mainly be used to cheat.
So if they know the same person has 4 wallets with X amount of money, do they know who it is? Wasn’t that like…the pride of bitcoin for a while? That it was anonymous?
Bitcoin can be tracked if you use it normally, but there are bitcoin laundering schemes that shuffle them up between several wallets.
The lore i heard was that it was considered anonymous until a college student cracked it or something
The ledger is open to everyone, that’s how it’s able to work as a decentralised currency.
but it’s just a list of numbers and amounts of coin they held at moment in time basically (or rather the transactions to construct that list).
You need to correlate those numbers with humans.
Thank you for the explanation
n/w there are also tricks people use. Suppose we wanted to buy something as a surprise and keep it secret, we could each buy the thing the other wanted.
There are services that do that programmatically, that shuffle the currency randomly.
That can make it hard to trace what number is buying what from whom.
You have to know who has the coins and who sends the coins otherwise it isn’t useful as money. As it was made by nerds the obscurity came from the assumption people would never see each other face to face a face and use them as money or something.
Which is a reasonable assumption by the coder types that would have been assumed to be using the coins
The real world value when they throw out huge sums like “190 million” - represented as digital beeps and boops - was specious enough to begin with. Now imagine trading today’s beeps for tomorrow’s boops. And the values are determined by an ungoverned beep made by propertarians and white supremacist nerds and pedophiles.
You can try to explain how this all makes sense but it’s kinda all bullshit. Or it just sucks so much that it’s impossible this is the only way to do things. It just can’t be.
some people work six jobs to pay rent, and others are smart enough to know that the next card the dealer is going to flip is a low beep boop so they already made a deal with the dealer to switch cards, and now their kids will never have to work a day in their lives
Not that im pro crypto, but
huge sums like “190 million” - represented as digital beeps and boops
Is also how most fiat currency is represented, in bank accounts, and also requires whatever bank to have enough liquidity for people to ‘cash out’ their digitally represented big numbers just like crypto markets
Of course there’s things like FDIC(assuming the bank meets its requirements, which in the recent case of the collapse of Silicon Valley Bank they did not) that can ameliorate bank runs and the like that don’t exsit for crypto
It’s all bullshit was their point I believe (ALL of it)
The FDIC pulled the classic bullshit protect the rich scheme with SVB
https://www.fdic.gov/news/press-releases/2023/pr23019.html
It’s not mentioned in their release, or course, but they should have received nothing. It wasn’t “normal” people though, so of course the government bent over immediately and did everything possible to make nepobaby venture capitalists whole
I’ve changed my mind, I think we should ban almost all whale hunting
Stonks going to the moon?
Too bad, there’s whalers on the moon
No don’t start another vegan/indigenous struggle session
Anyone with a net worth of more than $10 million (adjusted for inflation) has 24 hours to transfer the money in excess to the DPRK or be hunted. This includes companies because they are legally people
Crazy that they taught a whale to do that
an unusual whale
it was a Whale Shark, so not actually a whale
The cetaceans are buying up everything now the discount store that went under near me is now a humpback run hookah longue and I was just talking to my dad recently about how our hometowns golf course that used to be Saudi owned is now porpoise owned and they’re funding the mayors reelection campaign who just happens to be a porpoise
This site probably sucks but has more info/is text if you prefer that.
The trader still holds 49,634 BTC worth approximately $5.43 billion across four wallets, maintaining substantial exposure despite the aggressive shorting strategy.
On October 8, just one day before establishing the massive short positions, the whale sold 3,000 BTC for 363.87 million USDC at an average price of $121,291, positioning himself with significant stablecoin liquidity.
He then deployed 80 million USDC to open a 6x short on 3,477 BTC worth $419 million with a liquidation price of $140,660, while depositing an additional 50 million USDC into Binance for potential similar trades.
The whale continued scaling positions throughout October 10, depositing 30 million USDC to open a 12x short on 76,242 ETH valued at $330 million with a liquidation price of $4,613.
Its actually possible. They probably have enough to be a whale. All they need is some spyware on a device in Trump’s circle.
Oh lol I was just implying the DPRK should rob the whale, but them being the whale would be awesome!
It’s extremely unlikely a massive liquidation event across most altcoins like this was caused by a Trump tweet. Most likely a big market maker like an exchange was liquidated.
Not surprised, wasn’t Satoshi Nakamoto just the CIA or something?
No but the CIA does love crypto. There’s a lot of overlap between earnest techno-libertarians and CIA interests. Anything that would help you avoid the FBI is also useful to the CIA.
This however is just a case of someone in or with connections to Trump’s being a crypto whale and doing insider trading.
Crypto was supposed to free people from government control. But people who are invested enough in crypto need the security of the state to ensure their crypto investments stay valuable.
I wonder if this is related to why I’ve been getting swarmed by Bitcoin ads the last week. I’ve never had them before, I don’t look up Bitcoin stuff, but suddenly Bitcoin ads
