Bitcoins/Litecoins/Virtual Currencies

This is freaking hilarious. Twitter needs to be taken down a few pegs, it's completely insane that they have the amount of unchecked power they do with so little security/checks and balances.

Just imagine if the hackers weren't just after money:

Trump: "Nukes are inbound from Nk/China/Russia/Iran, enter shelters and try to survive, US sending response around the globe"
Musk: "Good luck America, tweeting from my private bunker"
Gov Coumo: "I'm sorry we failed you America, get to shelter if you can"
CNN: "Multiple confirmations of unstoppable BM's in air, Minuteman III's launched in response, WW3 is here"
NYT: "WW3 will hurt women and trans people the most"
Merkel: "RIP europe, ve hardly knew ze"

Whoever did this did it to get money but given whatever access they have, likely someone AT Twitter, they could have done much worse things like you said...

Falstaff said:

Whoever did this did it to get money but given whatever access they have, likely someone AT Twitter, they could have done much worse things like you said...

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The BTC scam was likely a cover to get something larger like Bidens and Obama's DM's.

Bitcoin sent to space


Bitcoin used for horrific shit

The more I learn about this stuff the more positive I am that crypto in some form will be the money of the future. Central Bank Digital Dollars (CBDCs) are all but guaranteed soon and crypto will be the only offramp to keep Central Banks from having (even more) draconian control of the money supply.

BrotherWu said:

I have free time now and I am looking into cryptos and I want to start doing some mining just for shits and giggles. Some of the sites seem really sketchy. Can anyone recommend a guide that walks you through getting set up? I understand it probably won't be very profitable, if it all, I just want to mess around with it.

For example, I read that you need to set up a wallet but that you should keep it on a device that is not connected to the Internet. If you do that, how do funds get transferred? Can you secure your wallet with 2FA?

Total noob here.

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I can't speak to mining but RE: wallets, I would suggest using a hardware wallet like


or


for cold (offline) storage. The wallet does not need to be plugged into anything in order to receive the funds. The wallet simply holds your private keys while the public key lives on the blockchain. The funds never actually leave the blockchain, but your private key is required in order to move them off of that public key address. In other words unless someone has your wallet (or steals your seed phrase, don't store that digitally anywhere), knows your passcode and if you use it, pass phrase, your funds are secure.

Ethereum is entering its final testnet before 2.0 launch in the next few weeks. This will introduce staking and some significant scaling solutions to the Ethereum network. Also worth noting that ~77% of ETH is held in wallets with >=32 ETH which is to say they are eligible for staking. This essentially means ETH could potentially lock up 77% of its supply with staking. There will be a large reduction is sale pressure, expect big price movements if testing goes well.

I do not own any bitcoin, but I have joined the PI network. Pi Network... it isn't worth a thing yet, but who knows what the future holds.

Leibowitz said:

I do not own any bitcoin, but I have joined the PI network. Pi Network... it isn't worth a thing yet, but who knows what the future holds.

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This looks pretty scammy at first glance. "Mining" a coin that does not appear to be listed on any exchange, and does not appear to provide any service. I could be wrong, but beware. Crypto space is full of stuff like this. Claims that it runs on the phone without using any resources or draining the battery... so what is it doing then?

ETH is pumping pretty hard off the 2.0 testnet announcement. Pulling BTC up with it.

LachiusTZ said:

Almost bought ETH at 250 last week . . .

Didnt want to deal with setting up a wallet.

The gains lost hurt.

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Whether it is in the next 2-3 month or 8-12 ETH is going to significantly go up. It is still under priced at $325 imo. Decentralized finance is poised to disrupt traditional banking (thats why they just pushed the regulations for banks to custody crypto) and as of right now, almost all Defi runs on ETH. $1k ETH by 2021 is completely reasonable and potentially a lowball.

That being said I wouldn't be shocked if there is another pullback before it really takes off. $1 Billion in Tether was printed recently after they lost their appeal in NY investigating whether they actually have backing to their coins + some fraud stuff iirc. I expect they are going to pump and dump the market before the game is played out. Hard telling though.

Prices have gone wild the past week. I'm curious just how high we go before they correct. I don't expect this to the *the* big run of the cycle, but who knows. Worlds gone mad.

Sanrith Descartes said:

The only think more manipulated than penny stocks is crypto.

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All markets are manipulated. Crypto is just small enough to be done by a couple whales.

Speaking of manipulated...


A UBI is likely coming in the form of a Central Bank Digital Currency

Congress would grant the Federal Reserve an additional tool for providing support—say, a percent of GDP [in a lump sum that would be divided equally and distributed] to households in a recession .... The Fed would then activate the securities and deposit the funds digitally in households’ apps....

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Oh and it will be ready to deploy reparations

now that the Fed is implicitly focusing on racial inequality, and soon explicitly with Joe Biden going so far as to urge the Fed to fight "racial economic inequality" and former Minneapolis Fed president Kocherlakota writing an op-ed in which he said the Fed "should have a third mandate on racial inquality", the stage is now set for the Fed to specifically release fund for those who have suffered from inequality, and once the time comes when the narrative allows to deploy reparations or direct funding to minorities, the Fed will be ready.

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CBDC's are both inevitible and terrifying as the Gov will have direct control over your currency. RIP banks as we know them once this gets deployed.

Found this interesting. You can probably hand pick some stocks that have performed similarly or perhaps better(?) but still impressive given the uncertainty in the market. IMO its worth learning how crypto works so you can put at least a small % of your wealth into it. 200% returns during this crazy year seems like its worth the risk to me.

Plus you're future proofing yourself knowledge wise as crypto wallets are likely to be a part of whatever future our economy takes. I feel like ignoring crypto today is like ignoring the internet in 1995. The technical side of, say Ethereum, is super bullish for its future as well. Assuming that the scaling technologies are implemented in a timely fashion. It isn't ready for mainstream yet, hence the 1995 reference.



EDIT: Worth considering that this is also an asset that the Fed can't "target higher inflation ranges" on. Moving wealth into uncorrelated assets could pay off if inflation becomes an issue. Monetary policy for most legitimate crypto's is not controlled by a centralized group.

"We believe that the Fed publicly would welcome inflation in a range of 2% up to 4% as a long overdue offset to inflation running below 2% for so long in the past," said Ed Yardeni, head of Yardeni Research.

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Yardeni said the approach would be "wildly bullish" for alternative asset classes and in particular growth stocks and precious metals like gold and silver. Guha said the Fed's moves would see "real yields persistently lower, the dollar lower, volatility lower, credit spreads lower and equities higher."

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Square... saw a 600% surge in bitcoin revenue, to $875 million, driven by new active bitcoin customers and increased demand for the cryptocurrency. Analysts were looking for $278 in bitcoin revenue.

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Square broke out revenue for its seller and Cash App businesses separately for the first time this quarter, disclosing $723 million in seller revenue and $1.2 billion of Cash App revenue, or $325 when excluding the bitcoin part of the business. Seller revenue was off 17%, while Cash App revenue increased 361%, or 140% when excluding bitcoin.

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Corporate FOMO may be on the horizon

“This investment reflects our belief that bitcoin, as the world’s most widely adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash," said CEO Michael J. Saylor.

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