The anti-crypto thread

[BFG10K]

Great news, crypto's collapsing across the board: https://www.techpowerup.com/282380/...ions-in-less-than-24-hours-did-the-bubble-pop

Also China's banned crypto, though individuals can still have it: https://finance.yahoo.com/news/chinese-financial-payment-bodies-barred-122712260.html

The sooner this cancerous parasite is wiped out, the better.

 

[JEDI]

Nah, it was always about supply side, so I guess go make child porn if you wanna make money from the cryptobros. That's the next shoe that's gonna drop is how many of these fucking clowns are gonna get sent away for amassing child porn collections. And imagine them crying in court "its an NFT, its supposed to be non-fungible, only I'm supposed to be able to see it!"

thought the courts ruled that child porn pics are not art and thus not protected by 1st amendment?
how does a nft pic get around that?

 

[BFG10K]

GPU Sales See Biggest Quarterly Drop Since 2009 Recession: JPR

Jon Peddie Research reports the growth of the global PC-based graphics processor unit (GPU) market reached 75.5 million units in Q3'22 and PC CPU shipments decreased by -19% year over year. Overall, GPUs will have a compound annual growth rate of 2.8% during 2022-2026 and reach an installed base...

www.techpowerup.com

"Mining has no impact on GPU demand!" - internet cryptobros.

Beware of fake MSI Afterburner that installs cryptojacking and information-stealing malware

Cyble Intelligence and Research Lab (CRIL) discovered several phishing campaigns that use MSI Afterburner to deliver XMR (Monero) cryptomining and information-stealing malware via 50+ fake replica websites.

www.techspot.com

The parasitic leeches just can't unlatch themselves. This time it's Monero XMR getting in on the action.

 

[darkswordsman17]

thought the courts ruled that child porn pics are not art and thus not protected by 1st amendment?
how does a nft pic get around that?

Er...you...consider child porn to be art?

 

[Lost_in_the_HTTP]

Next in line


Cryptocurrency lender BlockFi declares bankruptcy, a consequence of FTX's collapse

NPR|1 hour ago
BlockFi was one of the companies that FTX bailed out in recent months. Now it's a clear sign that contagion from FTX's collapse is spreading throughout the crypto industry.


.

 

[MrSquished]

Next in line


Cryptocurrency lender BlockFi declares bankruptcy, a consequence of FTX's collapse

NPR|1 hour ago
BlockFi was one of the companies that FTX bailed out in recent months. Now it's a clear sign that contagion from FTX's collapse is spreading throughout the crypto industry.


.

Man I thought crypto was the future. The future is looking bleak for crypto bros.

 

[JEDI]

Man I thought crypto was the future. The future is looking bleak for crypto bros.

but when the dust settles, it's zoom to the moon alice!

come on bitcoin $10k.
(Once btc breaches 16k support, it'll be freefall to 14k )

 

[dullard]

Another day, another Crypto exchange company bust. This time it is Bitfront.

BITFRONT

Don't worry, they still provide the LINK cryptocurrency. Oh wait, it is down 91% for the year.

 

[Charmonium]

Wow, the crypto bros must be sweating blood. Like many others, the crash wasn't really that much of a surprise but I DID think it would be a bit more gradual. Oddly, some cryptos seem to have weathered the downturn mostly intact. Those are probably the ones you want to give a closer look since it hopefully implies that investors see promise in their proclaimed use case(s).

 

[Lost_in_the_HTTP]

Is this stuff dying-dying ( I hope, I hope), or is this just weeding out the weak and questionable players?

 

[Charmonium]

Is this stuff dying-dying ( I hope, I hope), or is this just weeding out the weak and questionable players?

Weak and questionable are adjectives that I suspect describes the vast majority of cryptos.

But ones with a legit focus, like facilitating cross border payments, definitely have a future IMO.

 

[dullard]

Like many others, the crash wasn't really that much of a surprise but I DID think it would be a bit more gradual.

The rule-of-thumb is that bubbles pop far later and far faster than most people expect. It was true for most stock market bubbles, housing price bubbles, the tulip price bubble, the dot-com bubble, etc.

 

[JEDI]

Is this stuff dying-dying ( I hope, I hope), or is this just weeding out the weak and questionable players?

hope the latter since im going all in with my speculative $ at btc=10k

 

[Heartbreaker]

The ECB says even bitcoin is in it's last gasps:

Bitcoin’s last stand

The European Central Bank (ECB) is the central bank of the European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.

www.ecb.europa.eu

Since then, the value has fluctuated around USD 20,000. For bitcoin proponents, the seeming stabilization signals a breather on the way to new heights. More likely, however, it is an artificially induced last gasp before the road to irrelevance – and this was already foreseeable before FTX went bust and sent the bitcoin price to well below USD16,000.

The market valuation of Bitcoin is therefore based purely on speculation.

Speculative bubbles rely on new money flowing in. Bitcoin has also repeatedly benefited from waves of new investors. The manipulations by individual exchanges or stablecoin providers etc. during the first waves are well documented, but less so the stabilising factors after the supposed bursting of the bubble in spring.

 

[biostud]

He keeps delivering

 

[Lost_in_the_HTTP]

The hits just keep on coming .....


Feds charge 21 people in global crypto money laundering bust

CNBC|2 hours ago
The U.S. Attorney's Office for the Eastern District of Texas announced on Wednesday that it has charged 21 people in a crypto money-laundering network.


...

 

[KMFJD]

https://twitter.com/x/status/1597782264091492353

oh no, anyways, the spiral continues

 

[biostud]

https://twitter.com/x/status/1597782264091492353

oh no, anyways, the spiral continues

Well, the blockchain technology in itself is not bad, it is the speculative "investment" schemes that are bad. Since I don't have any deeper understanding of blockchain, something like the IBM/Mærsk collaboration actually sounded interesting as it had nothing to do with speculative crypto-bros. But apparently it was not to be.

 

[Mai72]

I have dodgecoin. i'm not expecting it to make me rich. But, there are creators on YouTube who are still trying to pump Dodge. They act like its about to explode to $1 soon.

 

[Mai72]

He keeps delivering

Ah. Meet Kevin, Graham, and AndreiJikh. They all took FTX money and have since damaged their reputation for it.

 

[snoopy7548]

My ATOTcoin and Coolcoin are still worthless. I want a refund...

 

[IronWing]

My ATOTcoin and Coolcoin are still worthless. I want a refund...

View attachment 72043

Hold out; someday that Dug777 t-shirt will be yours.

 

[MrSquished]

so after the next bankruptcy is that then the right time to buy crypto?

 

[VirtualLarry]

Buy the dip exchange.

 

[Mai72]

Put it all into FTX!

Oh wait...

 

[dullard]

so after the next bankruptcy is that then the right time to buy crypto?

It is very important to invest in block-chicane early in the process. That is when the bluff-chain does the most good (for your pocketbooks, not for society). Take Bitcon for example. Most people's deceit profits came during the early years before the patsies public became interested. Investing in things like Bilkcoin now is just missing the bilk of the profits. I'm pretty sure the only remaining good place to throw your money away now is in Dupecoin.