Another really huge issue with the btc community in general, and this reddit especially, is the lack of nuance on price. And again, an unwillingness to accept critique. There are several scenario that can play out with price, but in some of those scenario, we may even see a huge price pump, while *still failing at adoption*. And I think that's an important distinction to make. Just because wallstreet pumps the price for reasons that only concern the rich and institutions, does not equate to adoption. It does not equate to us making vital changes for the betterment of the network and adoption. It just doesn't. Wallstreet is perfectly content with hyper regulated bitcoin that is totally irrelevant for the common man and unadopted and unused, they are perfectly fine treating bitcoin as a glorified sovereign bond and international form of settlement. That is how the institutions and rich see it. They see it much like they see bonds and gold, and are willing to treat it as such. This is even a positive in some regard because it brings monetary transparency into the banking and wealth sector. But it does not address cypherpunk, emancipatory politics, or global poverty, or individual sovereignty. And it is acheived largely through extreme centralization and hyper invasive surveillance. Be clear, they can pump the price to 250,000 while still controlling everything through Patriot Act, AMLD5, NDAA, and FACTA and the banking secrecy Act. All of which Bitcoin is entirely ideologically incompatible with. But that's just fine, because the rich already comply with those laws (mostly). They already price in the regulatory and compliance costs of an institution, of an offshore tax haven. That's just it. IT's fine for them to do this to btc, because the laws are designed for them. They create the barriers only they can afford to play in, while hurting it for everyone else. The average common man in the world, and any developing country should be able to easily acquire btc without kyc. Period. It shouldn't be a surveillance state. I recently listened to Peter McCormack interview a darkmarket guy and I completely agree. We need to engineer away from on ramps, we need to engineer away from payment gates that involve fiat, and we need to all use coinjoiners and mixing technology. It needs to be the standard. There are so many reasons to use coinjoining for non illegality. Privacy is a fundamental need. And internet 4.0 for finance is contingent on a lot of technology. These aren't really coins either. It is backbone technology to better facilitate bitcoin. But we have to have layer two solutions. It doesn't matter whether it's RSK or plasma, or both, we just need the secondary layer to pay for distributed processing, server function, matching, liquidity, file storage, atomic swaps, network gas, etc. DeFi network value cannot be conflated with the supply and demand of btc itself, we don't need permissioned side chains, we need permissionless open source side chains and interoperatibilty platforms that will protect the privacy of bitcoin and facilitate it on decentralized exchanges. On exchanges that cannot be taken down. To do that we need staggering amounts of technology innovation and thoroughput, that will require people to host nodes, mine and stake these ancillary services to protect the backbone of bitcoin commerce. Anyone who is into toxic maximalism. Let it be known that you are willfully promoting corporate bitcoin supported by massive centralized players who will treat it as a bond or settlement statist instrument. You're promoting the support of bitcoin on an entirely captured regulatory framework and an entirely captured unsafe unsecure regular internet controlled by the clearnet and amazon and google and heavily surveiled. .Org just privatize for fuck sakes. And any DNS can be compromised, any .com site can be siezed. This normal backbone is entirely inappropriate for bitcoin. Centralized exchanges and payment apps like cash app are entirely inappropriate for bitcoin. You should be able to visit a IFPS site, connect a hardware wallet to any DEX or DAPP and immediately trade with the same speed and liquidity of binance and bitmex. The user interface should be simple and approachable to the layman. We need a liquidity interbank controlled by SPV server and dark node. Payment incentives for people to host liquidity to the network on plasma, radon, cosmos, uniswap, eventually all the DEX will simply be connected by interchain liquidity. Crypto has to be extremely unfettered. The regulators and wallstreet have strangled it and will continue to do so. Some people have forgotten that this is a battle for financial sovereignty and protection against wealth confiscation. Only when they realize that they can't control us, will they be forced to sit down at the legislative table and negotiate with common people. You have to bring your government to heel.
Bitcoin Isn't Meant For Conventional Westphalianism (Republicanism)(Statism)
Let me give you an idea of the vantage point and perspective I come from. I *am a quant, and a trader, and someone well read in law* I hate wallstreet, because I understand how the western economy works, and obviously I understand the technicals of trading and quant work. So I know the angles they play. And I understand regulatory behavior, I have a background in environmental regulatory work ( left because it's corrupt no surprise). You people obsessed with price at any cost or calling everything FUD have no long term view of things. If we get a economic collapse, a real crash, *the happening*, Bitcoin is going into the hundreds again. At this point, bitcoin is dependent on wallstreet, dependent on the same economy we supposedly disagree with. They've written the laws in the united state to only benefit the rich and institutions, and banned us off almost all exchanges. The only thing americans can use are basically three major names with piss poor liquidity and catastrophic fees. No one even talks about this. You HAVE to trade on unregulated exchanges to get by. Losing binance was a massive loss. The rich and powerful in united states have plans for bitcoin totally antithetical to cypherpunk. We don't just need mainstream adoption, we need mainstream adoption of bitcoin WITH mainstream adoption of things like bisq and wasabi. This needs to become the norm, and yet they instead are planning on geofence locking bitcoin on a system of white listed exchanges, institutions, and wallets, trapping and tagging kyced bitcoin. The thing people have to realize is that the money laundering that is done, is done through Deutsche bank and HSBC and the likes, by the drug cartels, human right violating dictators, war criminals , shell companies for defense companies and spin offs of intelligence agencies. It's all done with cash and the us dollar and banks. The worst people who run the super PAC for election, the worse people who hold trillions offshore and dominate the third world with multinational corporations, Russian oligarchs, all of them use the system and its loop holes to do all the things that they are trying cite as a reason to impose on bitcoin all of these extreme regulations. They want secrecy for themselves. Period. They want to control and oppress us, and use secrecy for themselves. Most of the reason western governments are broken is because of multinational conglomerate and monopolistic economic cartels buying out regulatory agencies. Period. It's called a inverted totalitarianism. (From Lawerence Lessig's Lost Republic). The economic cartels own the regulatory agencies. No regulatory body in the united states does what it really should do. But more often the opposite, specifically to protect industry, and their trillions offshore. The people who have all this wealth and control these profit entities don't even keep the money in the states or pay taxes. The truly rich live above the law while wrecking democracy. They want to have the ability to do the worst possible shit with the same level of secrecy that monero implies. So not only do we need encryption and privacy coins and features and anonymous untraceable access to bitcoin just to protect ourselves from them, we need to empower ourselves by having the same level of financial access that they do. Think about it. What is the effect of the rich institutions making so many loopholes that allow them to move money and participate in functions of the market that the average person is prohibited from? It encourages and enables their ability to subvert democracy secretly with the very financial crimes they accuse of us. So we need to take very deadly serious interchains and DAPP and DEX and DEFI, the wasabis, the mixers, monero, commerce adoption, and INFRASTRUCTURE that supports it. You people acting like maximalist can be so dense FFS. OPSEC. The world doesn't need bitcoin full node on backdoored windows 10 with zuck and the nsa watching you take a shit. The hardware and ancillary gear and infrastructure that supports bitcoin matters. Linux matters, user interface matters, commerce acceptance matters, server technology and security matters, even the processor matters, there are IBM and RISC V chips now,. The internet and bitcoin along with it needs to be violently dragged into open source models. Corporatization and closed gardening and the mcdonaldification of bitcoin is going to end in tragedy. Bitcoin really is intended to be an anarchist apparatus. Bullshit to the citadel loving maximalist power tripping on some sort of libertarian randian american centric fantasy. You need to pay attention to why democracy doesn't work, why our political systems are broken, why these aspects of government only seem to empower the worst aspect of wallstreet criminality and financial crisis. Because it's how a late republic behaves, it's inherent in the flaws of republicanism, in electoral politics, in these hierarchical regulatory bodies, which are in no way self governing. Our regulatory bodies are the literal opposite of Don't trust, Verify but more Don't verify, Trust.
A couple of years ago in the early months of the 2017, I published a piece called Abundance Via Cryptocurrencies (https://www.reddit.com/C\_S\_T/comments/69d12a/abundance\_via\_cryptocurrencies/) in which I kind of foresaw the crypto boom that had bitcoin go from $1k to $21k and the alt-coin economy swell up to have more than 60% of the bitcoin market capitalisation. At the time, I spoke of coming out from “the Pit” of conspiracy research and that I was a bit suss on bitcoin’s inception story. At the time I really didn’t see the scaling solution being put forward as being satisfactory and the progress on bitcoin seemed stifled by the politics of the social consensus on an open source protocol so I was looking into alt coins that I thought could perhaps improve upon the shortcomings of bitcoin. In the thread I made someone recommended to have a look at 4chan’s business and finance board. I did end up taking a look at it just as the bull market started to really surge. I found myself in a sea of anonymous posters who threw out all kinds of info and memes about the hundreds, thousands, tens of thousands of different shitcoins and why they’re all going to have lambos on the moon. I got right in to it, I loved the idea of filtering through all the shitposts and finding the nuggest of truth amongst it all and was deeply immersed in it all as the price of bitcoin surged 20x and alt coins surged 5-10 times against bitcoin themselves. This meant there were many people who chucked in a few grand and bought a stash of alt coins that they thought were gonna be the next big thing and some people ended up with “portfolios” 100-1000x times their initial investment. To explain what it’s like to be on an anonymous business and finance board populated with incel neets, nazis, capitalist shit posters, autistic geniuses and whoever the hell else was using the board for shilling their coins during a 100x run up is impossible. It’s hilarious, dark, absurd, exciting and ultimately addictive as fuck. You have this app called blockfolio that you check every couple of minutes to see the little green percentages and the neat graphs of your value in dollars or bitcoin over day, week, month or year. Despite my years in the pit researching conspiracy, and my being suss on bitcoin in general I wasn’t anywhere near as distrustful as I should have been of an anonymous business and finance board and although I do genuinely think there are good people out there who are sharing information with one another in good faith and feel very grateful to the anons that have taken their time to write up quality content to educate people they don’t know, I wasn’t really prepared for the level of organisation and sophistication of the efforts groups would go to to deceive in this space. Over the course of my time in there I watched my portfolio grow to ridiculous numbers relative to what I put in but I could never really bring myself to sell at the top of a pump as I always felt I had done my research on a coin and wanted to hold it for a long time so why would I sell? After some time though I would read about something new or I would find out of dodgy relationships of a coin I had and would want to exit my position and then I would rebalance my portfolio in to a coin I thought was either technologically superior or didn’t have the nefarious connections to people I had come across doing conspiracy research. Because I had been right in to the conspiracy and the decentralisation tropes I guess I always carried a bit of an antiauthoritarian/anarchist bias and despite participating in a ridiculously capitalistic market, was kind of against capitalism and looking to a blockchain protocol to support something along the lines of an open source anarchosyndicalist cryptocommune. I told myself I was investing in the tech and believed in the collective endeavour of the open source project and ultimately had faith some mysterious “they” would develop a protocol that would emancipate us from this debt slavery complex. As I became more and more aware of how to spot artificial discussion on the chans, I began to seek out further some of the radical projects like vtorrent and skycoin and I guess became a bit carried away from being amidst such ridiculous overt shilling as on the boards so that if you look in my post history you can even see me promoting some of these coins to communities I thought might be sympathetic to their use case. I didn’t see it at the time because I always thought I was holding the coins with the best tech and wanted to ride them up as an investor who believed in them, but this kind of promotion is ultimately just part of a mentality that’s pervasive to the cryptocurrency “community” that insists because it is a decentralised project you have to in a way volunteer to inform people about the coin since the more decentralised ones without premines or DAO structures don’t have marketing budgets, or don’t have marketing teams. In the guise of cultivating a community, groups form together on social media platforms like slack, discord, telegram, twitter and ‘vote’ for different proposals, donate funds to various boards/foundations that are set up to give a “roadmap” for the coins path to greatness and organise marketing efforts on places like reddit, the chans, twitter. That’s for the more grass roots ones at least, there are many that were started as a fork of another coin, or a ICO, airdrop or all these different ways of disseminating a new cryptocurrency or raising funding for promising to develop one. Imagine the operations that can be run by a team that raised millions, hundreds of millions or even billions of dollars on their ICOs, especially if they are working in conjunction with a new niche of cryptocurrency media that’s all nepotistic and incestuous. About a year and a half ago I published another piece called “Bitcoin is about to be dethroned” (https://www.reddit.com/C\_S\_T/comments/7ewmuu/bitcoin\_is\_about\_to\_be\_dethroned/) where I felt I had come to realise the scaling debate had been corrupted by a company called Blockstream and they had been paying for social media operations in a fashion not to dissimilar to correct the record or such to control the narrative around the scaling debate and then through deceit and manipulation curated an apparent consensus around their narrative and hijacked the bitcoin name and ticker (BTC). I read the post again just before posting this and decided to refer to it to to add some kind of continuity to my story and hopefully save me writing so much out. Looking back on something you wrote is always a bit cringey especially because I can see that although I had made it a premise post, I was acting pretty confident that I was right and my tongue was acidic because of so much combating of shills on /biz/ but despite the fact I was wrong about the timing I stand by much of what I wrote then and want to expand upon it a bit more now. The fork of the bitcoin protocol in to bitcoin core (BTC) and bitcoin cash (BCH) is the biggest value fork of the many that have occurred. There were a few others that forked off from the core chain that haven’t had any kind of attention put on them, positive or negative and I guess just keep chugging away as their own implementation. The bitcoin cash chain was supposed to be the camp that backed on chain scaling in the debate, but it turned out not everyone was entirely on board with that and some players/hashpower felt it was better to do a layer two type solution themselves although with bigger blocks servicing the second layer. Throughout what was now emerging as a debate within the BCH camp, Craig Wright and Calvin Ayre of Coin Geek said they were going to support massive on chain scaling, do a node implementation that would aim to restore bitcoin back to the 0.1.0 release which had all kinds of functionality included in it that had later been stripped by Core developers over the years and plan to bankrupt the people from Core who changed their mind on agreeing with on-chain scaling. This lead to a fork off the BCH chain in to bitcoin satoshis vision (BSV) and bitcoin cash ABC. https://bitstagram.bitdb.network/m/raw/cbb50c322a2a89f3c627e1680a3f40d4ad3cee5a3fb153e5d6d001bdf85de404 The premise for this post is that Craig S Wright was Satoshi Nakamoto. It’s an interesting premise because depending upon your frame of reference the premise may either be a fact or to some too outrageous to even believe as a premise. Yesterday it was announced via CoinGeek that Craig Steven Wright has been granted the copyright claim for both the bitcoin white-paper under the pen name Satoshi Nakamoto and the original 0.1.0 bitcoin software (both of which were marked (c) copyright of satoshi nakamoto. The reactions to the news can kind of be classified in to four different reactions. Those who heard it and rejected it, those who heard it but remained undecided, those who heard it and accepted it, and those who already believed he was. Apparently to many the price was unexpected and such a revelation wasn’t exactly priced in to the market with the price immediately pumping nearly 100% upon the news breaking. However, to some others it was a vindication of something they already believed. This is an interesting phenomena to observe. For many years now I have always occupied a somewhat positively contrarian position to the default narrative put forward to things so it’s not entirely surprising that I find myself in a camp that holds the minority opinion. As you can see in the bitcoin dethroned piece I called Craig fake satoshi, but over the last year and bit I investigated the story around Craig and came to my conclusion that I believed him to be at least a major part of a team of people who worked on the protocol I have to admit that through reading his articles, I have kind of been brought full circle to where my contrarian opinion has me becoming somewhat of an advocate for “the system’. https://coingeek.com/bitcoin-creator-craig-s-wright-satoshi-nakamoto-granted-us-copyright-registrations-for-bitcoin-white-paper-and-code/ When the news dropped, many took to social media to see what everyone was saying about it. On /biz/ a barrage of threads popped up discussing it with many celebrating and many rejecting the significance of such a copyright claim being granted. Immediately in nearly every thread there was a posting of an image of a person from twitter claiming that registering for copyright is an easy process that’s granted automatically unless challenged and so it doesn’t mean anything. This was enough for many to convince them of the insignificance of the revelation because of the comment from a person who claimed to have authority on twitter. Others chimed in to add that in fact there was a review of the copyright registration especially in high profile instances and these reviewers were satisfied with the evidence provided by Craig for the claim. At the moment Craig is being sued by Ira Kleiman for an amount of bitcoin that he believes he is entitled to because of Craig and Ira’s brother Dave working together on bitcoin. He is also engaged in suing a number of people from the cryptocurrency community for libel and defamation after they continued to use their social media/influencer positions to call him a fraud and a liar. He also has a number of patents lodged through his company nChain that are related to blockchain technologies. This has many people up in arms because in their mind Satoshi was part of a cypherpunk movement, wanted anonymity, endorsed what they believed to be an anti state and open source technologies and would use cryptography rather than court to prove his identity and would have no interest in patents. https://bitstagram.bitdb.network/m/raw/1fce34a7004759f8db16b2ae9678e9c6db434ff2e399f59b5a537f72eff2c1a1 https://imgur.com/a/aANAsL3) If you listen to Craig with an open mind, what cannot be denied is the man is bloody smart. Whether he is honest or not is up to you to decide, but personally I try to give everyone the benefit of the doubt and then cut them off if i find them to be dishonest. What I haven’t really been able to do with my investigation of craig is cut him off. There have been many moments where I disagree with what he has had to say but I don’t think people having an opinion about something that I believe to be incorrect is the same as being a dishonest person. It’s very important to distinguish the two and if you are unable to do so there is a very real risk of you projecting expectations or ideals upon someone based off your ideas of who they are. Many times if someone is telling the truth but you don’t understand it, instead of acknowledging you don’t understand it, you label them as being stupid or dishonest. I think that has happened to an extreme extent with Craig. Let’s take for example the moment when someone in the slack channel asked Craig if he had had his IQ tested and what it was. Craig replied with 179. The vast majority of people on the internet have heard someone quote their IQ before in an argument or the IQ of others and to hear someone say such a score that is actually 6 standard deviations away from the mean score (so probably something like 1/100 000) immediately makes them reject it on the grounds of probability. Craig admits that he’s not the best with people and having worked with/taught many high functioning people (sometimes on the spectrum perhaps) on complex anatomical and physiological systems I have seen some that also share the same difficulties in relating to people and reconciling their genius and understandings with more average intelligences. Before rejecting his claim outright because we don’t understand much of what he says, it would be prudent to first check is there any evidence that may lend support to his claim of a one in a million intelligence quotient. Craig has mentioned on a number of occasions that he holds a number of different degrees and certifications in relation to law, cryptography, statistics, mathematics, economics, theology, computer science, information technology/security. I guess that does sound like something someone with an extremely high intelligence could achieve. Now I haven’t validated all of them but from a simple check on Charles Sturt’s alumni portal using his birthday of 23rd of October 1970 we can see that he does in fact have 3 Masters and a PhD from Charles Sturt. Other pictures I have seen from his office at nChain have degrees in frames on the wall and a developer published a video titled Craig Wright is a Genius with 17 degrees where he went and validated at least 8 of them I believe. He is recently publishing his Doctorate of Theology through an on-chain social media page that you have to pay a little bit for access to sections of his thesis. It’s titled the gnarled roots of creation. He has also mentioned on a number of occasions his vast industry experience as both a security contractor and business owner. An archive from his LinkedIn can be seen below as well. LinkedIn - https://archive.is/Q66Gl https://youtu.be/nXdkczX5mR0 - Craig Wright is a Genius with 17 Degrees https://www.yours.org/content/gnarled-roots-of-a-creation-mythos-45e69558fae0 - Gnarled Roots of Creation. In fact here is an on chain collection of articles and videos relating to Craig called the library of craig - https://www.bitpaste.app/tx/94b361b205196560d1bd09e4e3b3ec7ad6bea478af204cabfe243efd8fc944dd So there is a guy with 17 degrees, a self professed one in a hundred thousand IQ, who’s worked for Australian Federal Police, ASIO, NSA, NASA, ASX. He’s been in Royal Australian Air Force, operated a number of businesses in Australia, published half a dozen academic papers on networks, cryptography, security, taught machine learning and digital forensics at a number of universities and then another few hundred short articles on medium about his work in these various domains, has filed allegedly 700 patents on blockchain related technology that he is going to release on bitcoin sv, copyrighted the name so that he may prevent other competing protocols from using the brand name, that is telling you he is the guy that invented the technology that he has a whole host of other circumstantial evidence to support that, but people won’t believe that because they saw something that a talking head on twitter posted or that a Core Developer said, or a random document that appears online with a C S Wright signature on it that lists access to an address that is actually related to Roger Ver, that’s enough to write him off as a scam. Even then when he publishes a photo of the paper copy which appears to supersede the scanned one, people still don’t readjust their positions on the matter and resort back to “all he has to do is move the coins or sign a tx”. https://imgur.com/urJbe10 Yes Craig was on the Cypherpunk mailing list back in the day, but that doesn’t mean that he was or is an anarchist. Or that he shares the same ideas that Code Is Law that many from the crypto community like to espouse. I myself have definitely been someone to parrot the phrase myself before reading lots of Craig’s articles and trying to understand where he is coming from. What I have come to learn from listening and reading the man, is that although I might be fed up with the systems we have in place, they still exist to perform important functions within society and because of that the tools we develop to serve us have to exist within that preexisting legal and social framework in order for them to have any chance at achieving global success in replacing fiat money with the first mathematically provably scarce commodity. He says he designed bitcoin to be an immutable data ledger where everyone is forced to be honest, and economically disincentivised to perform attacks within the network because of the logs kept in a Write Once Read Many (WORM) ledger with hierarchical cryptographic keys. In doing so you eliminate 99% of cyber crime, create transparent DAO type organisations that can be audited and fully compliant with legislature that’s developed by policy that comes from direct democratic voting software. Everyone who wants anonymous coins wants to have them so they can do dishonest things, illegal things, buy drugs, launder money, avoid taxes. Now this triggers me a fair bit as someone who has bought drugs online, who probably hasn’t paid enough tax, who has done illegal things contemplating what it means to have that kind of an evidence ledger, and contemplate a reality where there are anonymous cryptocurrencies, where massive corporations continue to be able to avoid taxes, or where methamphetamine can be sold by the tonne, or where people can be bought and sold. This is the reality of creating technologies that can enable and empower criminals. I know some criminals and regard them as very good friends, but I know there are some criminals that I do not wish to know at all. I know there are people that do horrific things in the world and I know that something that makes it easier for them is having access to funds or the ability to move money around without being detected. I know arms, drugs and people are some of the biggest markets in the world, I know there is more than $50 trillion dollars siphoned in to off shore tax havens from the value generated as the product of human creativity in the economy and how much human charity is squandered through the NGO apparatus. I could go on and on about the crappy things happening in the world but I can also imagine them getting a lot worse with an anonymous cryptocurrency. Not to say that I don’t think there shouldn’t be an anonymous cryptocurrency. If someone makes one that works, they make one that works. Maybe they get to exist for a little while as a honeypot or if they can operate outside the law successfully longer, but bitcoin itself shouldn’t be one. There should be something a level playing field for honest people to interact with sound money. And if they operate within the law, then they will have more than adequate privacy, just they will leave immutable evidence for every transaction that can be used as evidence to build a case against you committing a crime. His claim is that all the people that are protesting the loudest about him being Satoshi are all the people that are engaged in dishonest business or that have a vested interest in there not being one singular global ledger but rather a whole myriad of alternative currencies that can be pumped and dumped against one another, have all kinds of financial instruments applied to them like futures and then have these exchanges and custodial services not doing any Know Your Customer (KYC) or Anti Money Laundering (AML) processes. Bitcoin SV was delisted by a number of exchanges recently after Craig launched legal action at some twitter crypto influencetalking heads who had continued to call him a fraud and then didn’t back down when the CEO of one of the biggest crypto exchanges told him to drop the case or he would delist his coin. The trolls of twitter all chimed in in support of those who have now been served with papers for defamation and libel and Craig even put out a bitcoin reward for a DOX on one of the people who had been particularly abusive to him on twitter. A big european exchange then conducted a twitter poll to determine whether or not BSV should be delisted as either (yes, it’s toxic or no) and when a few hundred votes were in favour of delisting it (which can be bought for a couple of bucks/100 votes). Shortly after Craig was delisted, news began to break of a US dollar stable coin called USDT potentially not being fully solvent for it’s apparent 1:1 backing of the token to dollars in the bank. Binance suffered an alleged exchange hack with 7000 BTC “stolen” and the site suspending withdrawals and deposits for a week. Binance holds 800m USDT for their US dollar markets and immediately once the deposits and withdrawals were suspended there was a massive pump for BTC in the USDT markets as people sought to exit their potentially not 1:1 backed token for bitcoin. The CEO of this exchange has the business registered out of Malta, no physical premises, the CEO stays hotel room to hotel room around the world, has all kind of trading competitions and the binance launchpad, uses an unregistered security to collect fees ($450m during the bear market) from the trading of the hundreds of coins that it lists on its exchange and has no regard for AML and KYC laws. Craig said he himself was able to create 100 gmail accounts in a day and create binance accounts with each of those gmail accounts and from the same wallet, deposit and withdraw 1 bitcoin into each of those in one day ($8000 x 100) without facing any restrictions or triggering any alerts or such. This post could ramble on for ever and ever exposing the complexities of the rabbit hole but I wanted to offer some perspective on what’s been happening in the space. What is being built on the bitcoin SV blockchain is something that I can only partially comprehend but even from my limited understanding of what it is to become, I can see that the entirety of the crypto community is extremely threatened as it renders all the various alt coins and alt coin exchanges obsolete. It makes criminals play by the rules, it removes any power from the developer groups and turns the blockchain and the miners in to economies of scale where the blockchain acts as a serverless database, the miners provide computational resources/storage/RAM and you interact with a virtual machine through a monitor and keyboard plugged in to an ethernet port. It will be like something that takes us from a type 0 to a type 1 civilisation. There are many that like to keep us in the quagmire of corruption and criminality as it lines their pockets. Much much more can be read about the Cartel in crypto in the archive below. Is it possible this cartel has the resources to mount such a successful psychological operation on the cryptocurrency community that they manage to convince everyone that Craig is the bad guy, when he’s the only one calling for regulation, the application of the law, the storage of immutable records onchain to comply with banking secrecy laws, for Global Sound Money? https://archive.fo/lk1lH#selection-3671.46-3671.55 Please note, where possible, images were uploaded onto the bitcoin sv blockchain through bitstagram paying about 10c a pop. If I wished I could then use an application etch and archive this post to the chain to be immutably stored. If this publishing forum was on chain too it would mean that when I do the archive the images that are in the bitstragram links (but stored in the bitcoin blockchain/database already) could be referenced in the archive by their txid so that they don’t have to be stored again and thus bringing the cost of the archive down to only the html and css.
We have observed one of the biggest collapses of the US stock market in recent years. The technological index Nasdaq dropped by 4.43% over just one day. Stay in touch with the current events of the week covered in our analytical report.
We present to you the report filed by the analysts of our private club for October 22–28. Main market events for October 22–28, 2018 1) Bakkt will be launched on December 12 if the regulators grant the permission. 2) Internal sources of the CBOE exchange claim that approval of Bitcoin ETF is inevitable. According to the SEC, VanEck, SolidX and CBOE resolved all the issues and it is only a matter of time before the new asset class is approved. 3) The Department of Financial Services (DFS) of New York has permitted Coinbase to develop Custody. The Bank of Japan admits that the bank may lose a lot of influence due to emergence of cryptocurrencies. $500m worth of USDT have been destroyed (burned) by Tether. 4) The Central Election Commission of Russia supported the initiative of the Party of Growth to run elections in Russia on blockchain, which would prevent doctoring of the results. 5) In June 2019, the Financial Action Task Force on Money Laundering (FATF) will start publishing its standards for international regulation of cryptocurrencies. 6) The British audit and consulting company Ernst & Young (EY) conducted a study on the efficiency of 110 ICO projects: only 1 out of 10 tokens managed to bring profit to their owners. 7) Constantinople — the hard fork of Ethereum network — is delayed until the beginning of 2019. The developers made this decision after discovering several bugs when launching the update in the test network. 8) Visa will launch a digital identification system on the B2B Connect blockchain in early 2019. The system would tokenize private information that ensures secure international transactions. 9) The Swiss online bank Swissquote now enables purchasing ICO tokens. You can buy them through an online bank account. Acquired tokens will be stored in a special wallet. 10) HTC has presented the first iteration of the blockchain smartphone Exodus 1 in Berlin. The smartphone is expected to go on sale in 34 countries this December. The device will cost 0.15 BTC or 4.78 ETH. 11) Blockchain platform for distributing video content TaTaTu, which raised $585 million during the ICO, signed an agreement with Johnny Depp. The actor’s film company Infinitum Nihil would produce movies and digital content for TaTaTu. 12) Chairman of the State Duma Committee on the Financial Market Anatoly Aksakov explained that absence of the concepts of “mining” and “bitcoin” in the draft law “On digital financial assets” hints to a “sad” future for cryptocurrencies. 13) The Japan Association of Virtual Currency Exchanges (JVCEA) received the right to self-regulation from the country’s main regulator, the Japan Financial Services Agency (FSA). 14) The Taiwan Financial Supervision Commission will simplify the procedure for launching ICOs in the country and fully legalize them. 15) Tether Limited burned 500 million USDT tokens. The company once again noted that any USDT owner could redeem their tokens with real US dollars that secure the cryptocurrency. 16) The branch of the China International Economic and Trade Arbitration Commission in Shenzhen decreed that the ownership of bitcoins in China should be considered legal. 17) The Ministry of Finance prohibited the British Royal Mint to issue the Royal Mint Gold (RMG) cryptocurrency, backed by gold. 18) Ripple published a financial report for the third quarter of 2018: sales of XRP tokens increased more than twofold and generated revenue of $163.33 million. 19) While the major stock indexes collapsed, Bitcoin continued to stand its ground. This refutes the widespread claims that the price of Bitcoin correlates with traditional finances. It’s worth noting that the current collapse of the US stock market is one of the biggest in recent years. The fall in the Nasdaq technology index, which dropped by 4.43% over the day, was especially disheartening. This is the biggest fall since August 2011. 20) The number of Google search requests for the word “Bitcoin” decreased by 93% compared to last December. This is quite natural, because back then the price of Bitcoin reached its peak. 2. Market analysis from club experts for October 22–28, 2018 The last week was hardly surprising for crypto traders and investors. Volatility, pumps/dumps, despair and enthusiasm — all the usual stuff. Compared to the stock market though, the waves of the crypto market begin to look pale sometimes. The total capitalization remained in the $208–211 billion corridor for the entire week, despite the worries. Trading volumes were also fairly stable: $9–11 billion. BTC dominated the market at 54% without deviations, although the Altcoins performed very good. In the end of the week, the price for 1 BTC remained the same: $6480 on Monday and Sunday, though it fluctuated between $6380 and $6540 ($6478 at the time of the report) during the week. However, the last week showed a strong growth of a number of coins, despite the price of BTC, and many coins skyrocketed from the levels below TOP100 CMC. Last week the stock market experienced a rather sharp fall, and according to reports, a number of stocks have incomparably higher volatility than many coins from TOP100. The general sentiment makes it clear that cryptographic market is gaining increasingly more attention of institutional traders and very soon trading instruments will be available through a single terminal in any market. In the meantime, the blockchain technology and cryptocurrency are gaining momentum in the world, and that’s great! Though some cypherpunks are not happy about this! 3. Changes in the cost and capitalization of the TOP-10 cryptocurrencies in the period of October 22–28, 2018 https://preview.redd.it/91fmpru2t5v11.jpg?width=681&format=pjpg&auto=webp&s=91c4bc7dca5190cf8bf6c326bdae5d1f32002df4 4. TOP-3 growing coins from the long-term portfolio for October 22–28, 2018 (including portfolio updates) The fastest growing portfolio coins: IOTeX + 50% (), Neblio NEBL + 40% (), Decred DCR + 15% (listing on Binance). The worst performing coin is Mysterium MYST -28% — correction of the growth during the last week. Want to be the first to receive news, updates from analysts and trade signals? Join @gitsupport channel and start earning with us!
“Bitcoin enables certain uses that are very unique. I think it offers possibilities that no other currency allows. For example the ability to spend a coin that only occurs when two separate parties agree to spend the coin; with a third party that couldn’t run away with the coin itself.” – Pieter Wui (66 points, 14 comments)
Daily PerformancesBTC dominance by market capitalization in the total crypto market posted its highest level yesterday, passing 47.10% for the first time. The move comes as sentiment surrounding Bitcoin in particular continues to improve after BTC/USD jumped in excess of 15% over the last five days. At the same time, the other cryptocurrencies have struggled to achieve similar gains, posting losses against Bitcoin. Weekly Top 5 Price comparison - BTC. - ETH - XRP - BCH . - EOS https://preview.redd.it/axdkbd6ey2c11.png?width=1064&format=png&auto=webp&s=c613a48f15c04b443cf15dcd633f3b8535ff7489 Technical Analysis -BTC BTCUSD has busted through the 100 SMA dynamic resistance, so there’s some bullish momentum building up. BTC is ready to test the 200 SMA dynamic resistance around $8,500 next. This is near a former support turned resistance level at the $9,000 barrier.A move past this level could lead to a test of the $10,000 major psychological level. Stronger bullish pressure could take BTCUSD to the next ceiling close to $12,000. However, RSI is indicating overbought conditions already, which means that seller's wave is taking over. https://preview.redd.it/envy8vfsy2c11.png?width=1332&format=png&auto=webp&s=6703efe0e2aa16be704f9b799885bd28ec4ba5f7 ----------------------------------------------------------------
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