Reply With QuoteThey've offered the hacker 10m
320 million bloody hell
They've offered the hacker 10m
This guy probably knows a bit about where to invest your money
https://www.coindesk.com/business/20...th-in-bitcoin/
Yeah.Originally Posted by Vanguard
His two tips are Stronghold Digital Mining, down over 70% since its IPO a good three months ago and MicroStrategy, down 62% since its Early November peak.
Miller also invested into Bear Stearns and AIG just before the financial crisis and as a result, the fund that he managed imploded spectacularly. DYOR.
Someone who lies about the little things will lie about the big things too.
Apparently some HMRC “guidance” published yesterday is bad news:
https://ambcrypto.com/hmrcs-updated-...s-the-clarity/
Even the name 'Wormhole' shouts - come hack me!
I think the moral of the story (if the twitter consensus is correct) is, don't post about a possible exploit on Github then wait a few days to patch it..
Imagine a bank posting on Facebook 'the safe door lock isn't working' for all to see
Gender was seen as the man to move things forward with regulation and help Crypto, now just seen as a shill for the old money men, as he'd down f all
Wormhole money mysteriously has arrived back
Errhh no. It hasn't arrived back, they were bailed out by their parent Jump.
https://twitter.com/JumpCryptoHQ/sta...01013408497666
Someone who lies about the little things will lie about the big things too.
Bloody hell
Looks like somebody needs to buy 120,000 ETH in the spot market.
Someone who lies about the little things will lie about the big things too.
Eth back to a 3 and BTC back to a 4
Sorry only just picking this up now it’s the weekend. Floki is trading on some exchanges and not others while they deal with the Nottingham version of DAO contract (referred to as Floki v4)
As CEX will deal with the upgrade on their own timeframes the weighted average price on cmc/coingecko is a bit off.
Here are the link to the two main DEX
Eth https://www.dextools.io/app/ether/pa...7a62e18da178c0
Bsc https://www.dextools.io/app/bsc/pair...e93e7ed798542c
I would expect cmc to re-verify the market cap and circulation shortly.
As for the generally accepted accounting principles, my thoughts on this is should be dealt with like a forex movement.
I’m not an expert in crypto accounting but for me it should be treated as a current asset at net realisable value and impaired/revalued as appropriate.
A firm with forex or various hedges would be able to declare a gain or loss on holding euros/dollars etc.
The issue here is that Microstrategy has a significant proportion of assets as btc, not so much for tesla.
Longer term I expect the international accounting standards board will change the rules. But as it stands impairment only and thems the rules.
Thanks for the link. Did you buy the dip when it dropped bottomless yesterday? This thing has no liquidity, almost 100% up from its lows yesterday. Crazy.
As to the accounting treatment, don't think this is ever going to change. Why would it? Bitcoin is no currency and I don't think it will ever attain that status as it lacks the most important property required: legal tender.
Someone who lies about the little things will lie about the big things too.
Liquidity on exchanges is sketchy at times. Not helped by the contract change. So you can see some good arbitrage opportunities. I didn’t buy yesterday but I have picked up a few more tokens recently at these very low prices imho
The accounting rules are fairly archaic, they wouldn’t treat money market instruments as intangibles. It needs some balance. If companies want to speculate on magic beans it’s up to the investors to decide if that fits in with their risk profile.
For the most part crypto can be exchanged for cash pretty easily. How is that different from a money market instrument apart from the risk. I can appreciate both sides of the argument. Endless revaluation downwards doesn’t make too much sense. It’s not like purchased goodwill as it has a tangible cash value despite being an intangible asset.
Money market instruments?
That is the class with the lowest risk assets, to compare crypto to money market instruments is outright hilarious. They are nothing like it.
And no, your statement doesn't hold. Accounting rules were always such that the accounting treatment mirrored the inherent risk of an asset class. That won't change anytime.
Someone who lies about the little things will lie about the big things too.
But over the long run will they always be this risky or will it level out?
Cryptos aren't illiquid generally so what’s the difference between btc and commercial paper or even holding euros/dollars etc other than risk. That’s my point. All can be exchanged for cash quickly, it’s the net realisable value that is important.
If the accounting treatment only reflects inherent risk when the asset is being impaired. That’s not an ideal solution. Risk works both ways.
Last edited by Sean89; 5th February 2022 at 12:19.
You can't be serious? Commercial paper is lowest risk category there is, crypto is highest.
The risk with crypto is that it simply ceases to exist because it has no legal grounding and nobody responsible for its existence, maintenance and development. You may say that decentralised is such, and I will reply that that's the exact reason why it will never be money.
The accounting treatment won't change. The most positive that crypto can hope for is that it will be classified as a security. That may be a steep climb already, and comes with plenty regulatory oversight which may clash with the premise of decentralisation because regulators want somebody who is responsible. Honestly, I do not see any solution to this.
Someone who lies about the little things will lie about the big things too.
BTC in the US maybe an asset, ETH and down a security? Biden hates it and Putin owns 12% of all BTC to hedge against US sanctions, I mean this has so many players and roads to go down. Right now I'd take bad regulation as being less worse than the anarchy we have now
Putin owns bitcoin?
Share your source?
Someone who lies about the little things will lie about the big things too.
Well Russia, not Putin personally , don't have a source for that
I doubt it.
Never seen anyone claim it, and you even put a number on it - so you haven't just invented it?
Someone who lies about the little things will lie about the big things too.
I'll try and find the source
My source says I'm an idiot . It's not the state per se, it's all the miners there that add up to 12%, alledgedly, supposedly because Putin wants it
Somewhere in a YouTube we think one of these
Please don't make an investment decision on the quality of this work from me
https://youtu.be/TPmuGmfQF5E
https://www.youtube.com/watch?v=t4hSzJLYgwo
Certainly Putin seems to be wanting to have some fun
https://www.forbes.com/sites/billyba...-price-swings/
So the Russian miners may or may not mine up to 12% of current production and you think that means Putin owns 12% of 21 Mio coins?
YouTube university at its best.
Someone who lies about the little things will lie about the big things too.
Fair criticism tbh
Can we agree that regulation is around the corner and the politics between Russia and USA will play a part in the future on BTC? Allow me that to bow out with some dignity left
Granted.
Someone who lies about the little things will lie about the big things too.
When do we think the UK will adopt Floki Inu as the official currency? I'm thinking next year but it could be as far as 2025
Considering the state of play, rather earlier than later.
Someone who lies about the little things will lie about the big things too.
Central bank digi currency coming 2025 apparently. Probably won’t be that popular so I’d say we’ll abandon the pound for the dog in early 2026
It’ll be on coinbase soon enough. You can buy some!
Also gettin in early. Are we going to call the digi pound BritCoin 🤔
Last edited by Sean89; 5th February 2022 at 18:00.
Central Bank digital currency won't be decentralised, it's all in the name. It's just a replacement of our physical coins.
Someone who lies about the little things will lie about the big things too.
I’m not a decentralisation hippy, bit of oversight isn’t a bad thing.
Can’t wait to stake that digital pound to the highest bidder. Opens lots of avenues for new business models away from traditional banking.
Want to lend your mate a tenner, soon you’ll be able to do it with a smart contract.
Maybe not a bad thing, given the number of defaulters I call mates
I can tell you what the staking rate for the digital pound will be: as of today, about 0.2% p.a.
Someone who lies about the little things will lie about the big things too.
BrexitCoin
You’re thinking too narrow minded.
Digi pound at the central bank is more akin to a tradable certificate of deposit. Why bother with banks anymore.
Take your savings stake them on a pool of mortgages, against credit card receivables. The freedom to move your money around to the best provider in seconds.
Ah but the ol kyc you say. That’s fine, you can share a copy of your government ID nft… that’s the future.
Agree with all of that, but as long as any borrower has the alternative to borrow at the good old bank, your staking is going to return exactly what the central bank wants it to return. That's why it's not decentralised, the central bank wants to and will control the cost of borrowing. And currently, that is NIL.
Someone who lies about the little things will lie about the big things too.
But I’m saying If there is genuine competition in the banking sector the rate of return wouldn’t be zero. At present my savings account funds Lloyds credit card business etc at somewhere between 3% and 29.9% apr
Yet they pass on to me the square root of bugger all.
In an efficient semi decentralised peer to peer system those funds can be seamlessly distributed to holders at significantly lower cost and additionally if I wanted to, whats to stop me depositing my funds that might be protected by the local regulator in the US, Europe, Switzerland or Japan if they’re offering a better rate ofcourse there is forex but they can issue Eurocurrency bonds in any denomination they wish to
borrow locally in pounds. The world is globalised.
I got news: they already issue bonds in foreign currencies. Been doing that for 300 years.
Yes, credit margins will contract, which means the bid/offer spread goes to virtually zero. But the bid is still where the central bank sets it. So you will be able to borrow cheaper, but you won't get a better risk-weighted return on your assets.
Someone who lies about the little things will lie about the big things too.
As a retail customer I can’t easily access those markets. They could be tapped In a crypto based system.
The potential of crypto and the blockchain isn’t all btc magic internet gold, truth be told I don’t think btc has a long term future.
Next you’ll be telling me about the time a tulip was worth 10 years salary and it completely killed the futures markets 🤣
Those bonds have even been listed on local exchanges so that they can be flogged to retail clients.
If you want a 20% return on USD bonds, look no further than crypto's favourite banana dictatorship.
Someone who lies about the little things will lie about the big things too.
I think you’ll agree floki is a better prospect than El Presidente’s Liberty bonds.
100%.
I will offer anyone 3 to 1 odds that they will default before the 27 bonds come due.
Someone who lies about the little things will lie about the big things too.
https://uk.finance.yahoo.com/news/bi...170822822.html
Coming from anyone else this would obviously be a rhetorical observation. In this particular instance however, ruling out a change in strategic direction may be precipitate.
Turning out to be a good day for doggos 🚀
A good little return so far on my tiny pot of tectonic (tonic) today
Now this is going to be interesting. The FBI seems to have seized most of the stolen bitcoins from the 2016 Bitfinex hack, value as of today about $3.6 billion.
Couple of questions that come immediately to mind:
- will the FBI hand the crypto back to Bitfinex?
- will somebody look into the potential fraudulent way Bitfinex made up for the loss in 2016?
- Bitfinex offered $100s of million in reward - will that be paid out?
I am 100% sure we haven't heard the last of this, some people may not really like that the Feds have their nose in this business now.
Full story here in WaPo.
Someone who lies about the little things will lie about the big things too.
FTFY
Couple of questions that come immediately to mind:
- will the FBI hand the crypto back to Bitfinex? Yes
- will somebody look into the potential fraudulent way Bitfinex made up for the loss in 2016? No
To the printing press. Time to mint 3.6bn tethers. Btc to the moon!
Came here to post the same as just saw the berg notification, you’re too on the ball raffe!
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