Investing

[Deleterious]

Crypto as a payment method or replacement for the dollar is a pointless conversation. 

The second the government thinks it's a threat they will kill it. 

The ability to print and manipulate money is one of the biggest powers government has. They are never giving up that power.

[gehringer_2]

2 hours ago, chasfh said:

I’ve seen these bitcoin “ATMs” in various places as well, and a couple years ago I thought I would give it a spin to buy, like, five dollars or something worth of crypto, and I couldn’t figure out how to buy it or where to put it even if I could buy it. A digital wallet, I presume? Where do you even get one of those? Not at JCPenney or Sears with the other wallets, I’m sure. 😏

Those “ATMs” are probably going to show up as a joke in a Simpsons episode probably sometime this season.

Did someone here post the story about the guy in England that's trying to get some municipality to dig up the local landfill because a hard drive with billions (?) in Bitcoin got thrown in the trash?

[Screwball]

2 hours ago, Deleterious said:

Crypto as a payment method or replacement for the dollar is a pointless conversation. 

The second the government thinks it's a threat they will kill it. 

The ability to print and manipulate money is one of the biggest powers government has. They are never giving up that power.

Without a doubt.

[oblong]

I don't see a difference between big government and big oligarchs and tech bros who will control crypto.

 

[gehringer_2]

49 minutes ago, oblong said:

I don't see a difference between big government and big oligarchs and tech bros who will control crypto.

 

this is another place where the conspiracy theories go off the rails. You have all the pressure of a 30 trillion dollar economy demanding they keep the dollar as honest as they know how. It's a place where virtually everyone's interests aligns with them not screwing it up. So they don't anticipate every gyration in the economy with perfect prescience, but try to imagine what would have happened to price stability through a crisis like Covid if we had been depending on Bitcoin or gold.

[oblong]

hoping for a better boogeyman?  Or at least the ability to be on the boogyeman's team?  If such a thing is possible.

 

[Deleterious]

How about you **** right off.

 

[chasfh]

Oh, yeah, they got a straight line to the White House on crypto, and they have the criminal history Ttump loves so much in his cohorts, so hells yeah they're coming back.

[Tigeraholic1]

6 minutes ago, chasfh said:

Oh, yeah, they got a straight line to the White House on crypto, and they have the criminal history Ttump loves so much in his cohorts, so hells yeah they're coming back.

[Screwball]

Enron - ticker ENE

Jeff Skilling should really be on the Mt. Rushmore of financial criminals. What Enron did was leading edge stuff, not to exclude the bookkeeping debacle. So many other financial criminals learned what Skilling did and made a wad of money too. Most of the books are worth reading. And he only served 12 years of a 24 year term.

I still respect the lady named Sherron Watkins for outing these assholes. She had some brass balls sitting beside Skilling in front of the dip**** congress people blowing the whistle on him. I got to see her in person circa 2010ish while she give a lecture on the whole ordeal.

[Screwball]

Art Cashin, New York Stock Exchange fixture for decades, dies at age 83

Sad news, he was a cool guy. Too bad he never wrote a book.

[Deleterious]

The judge shot down the $56B Musk compensation package.  Don't care about that, but this was wild.

Quote

Chancellor Kathaleen McCormick wrote in her opinion on Monday that, “Even if a stockholder vote could have a ratifying effect, it could not do so here.” The judge approved a $345 million attorney fee award for the lawyers who successfully sued on behalf of Tesla shareholders in order to void the pay plan.

 

[gehringer_2]

10 hours ago, Tigeraholic1 said:

I'm sure the people at Henry Ford Health love seeing the same ad format they adopted show up in this. 

[Screwball]

Morbid post warning. Given the United Heath guy getting gunned down in NYC today, I had to look at the stock price. This is from yesterday in normal market hours into the over night when the market is closed for us (the grey band) and part of today.

Just to the left of the Lo 584 is a vertical dotted line which is midnight. So those large green candles going up to the Hi 627 was yesterday. The Lo 584 was around 8:30 today. I don't know when it hit the news, but it sounds like it happened around 7:15? From high to low, or low to high, in after hours the price moved around 7 percent. Normally this stock trades like a mutual fund.

Wild stuff.

[chasfh]

Closed to us. Open to insiders, apparently.

[Deleterious]

I know you guys wont believe this.  But the Hawk Tuah girl ran a Crypto scam.  I think I read it lost 90% of its value in 20 minutes or something crazy like that.  Insiders trading when they shouldn't be, etc etc.

She is once again famous for going down.

 

[oblong]

Saw a tweet yesterday pointing out that not one man has come forward to “collect the clout” of being on the receiving end of what she got famous for.  “Think about that for a second” is what they suggested.  

[Screwball]

I can't believe there are scams going on. LOL!

I remember a guy named Harry Markopolos who served up Bernie Madoff on a silver platter and nothing happened until it did. Funny too, the great JP Morgan Chase under Jamie Dimon had the records because they moved his money in the Ponzi he created. He was even a chairman of the NASDAQ stock exchange. Probably went to all the good parties.

It's a big club and we ain't in it.

They bust a few every once in a while to make it look good, but the graft and corruption is off the charts. Follow the money.

 

[Deleterious]

This would have been good for our Crypto conversation a few weeks ago.

Quote

He said: “This is one of the most miserable, horrible launches I’ve ever seen. I’ve been tracing it on the chain for a while. You guys generated over a million dollars in fees, while your fans got rug pulled. There were snipers, but there was also insider trading directly linked to y’all’s creator accounts.”

The guy that broke this story is a Youtuber.  He was able to figure it out because all the trades are out in the open on the blockchain.  People that do dirt hate transparency.  

[Screwball]

36 minutes ago, Deleterious said:

This would have been good for our Crypto conversation a few weeks ago.

The guy that broke this story is a Youtuber.  He was able to figure it out because all the trades are out in the open on the blockchain.  People that do dirt hate transparency.  

Yes, and that's what's so neat about it. You gave me a link to interrogate Bitcoin transactions a while back. I did some poking around, interesting stuff. Everything is all right there. I guess at the same time, once again, buyer beware.

ON EDIT: Adding, I think we will eventually be forced away from cash, so if we have to do that conversion - let's do it right - transparency - so all parties have the same transaction data - and all of it. I would think that would make things simpler, but maybe not.

Edited December 6, 2024 by Screwball

[gehringer_2]

11 minutes ago, Screwball said:

transparency - so all parties have the same transaction data - and all of it. I would think that would make things simpler, but maybe not.

Idk, do you really want everybody to have all your transaction data?Not sure I’d be in for that. Of course that isn’t what your getting with crypto. The block chain may be in a public domain, but the transactions are not transparent in any way, which is what makes it useful for illicit purposes. 

Edited December 6, 2024 by gehringer_2

[Screwball]

43 minutes ago, gehringer_2 said:

Idk, do you really want everybody to have all your transaction data?Not sure I’d be in for that. Of course that isn’t what your getting with crypto. The block chain may be in a public domain, but the transactions are not transparent in any way, which is what makes it useful for illicit purposes. 

Well, not everybody, point taken.

I'm looking at the transaction end and how all this might turn out. As I have already said I think we will eventually go non paper money - cash. How long that will take, who knows, but it will happen. Like so many things of importance, this transition, done correctly, needs a bunch of adults in the room to sit down and have an intelligent conversation. But that ain't gonna happen.

For example; Maybe it's just my worthless bank (a well known regional whorehouse) but all I see when I look at my online statement is money in, money out. The transactions look like hieroglyphics and if it wasn't for the amounts I wouldn't know who the hell I paid. And no time stamps - why? That should be easy.

Nothing will change because the people in the big club don't want it to, and as far as illicit purposes, the "market" will find a way to continue to fund illicit things because they have been doing it since forever no matter the means of commerce.

People are life, and people will find a way, no matter the exchange.

[Deleterious]

Article about how Bitcoin is not anonymous and probably not very good for illegal activity. 

How a 27-year-old busted the myth of Bitcoin’s anonymity

 

[Deleterious]

Speaking of transparency.  

 

[gehringer_2]

On 12/6/2024 at 1:21 PM, Deleterious said:

Article about how Bitcoin is not anonymous and probably not very good for illegal activity. 

How a 27-year-old busted the myth of Bitcoin’s anonymity

 

Nice find to post.

Fingerprinting based on the split paths - good tried and true detective concept.  But still - a lot of work and ultimately getting physical IDs still appears to depend on being able to subpoena someone at the cash out end to get the real world ID. That may or not be possible in any given case. Of course if you have a crooked off-shore bank to work with, you may not need bitcoin anyway. 🤔

But also consider the reality of how police agencies actually work. Most crimes go unsolved not because they are unsolvable, but because the resources are not available to solve all crimes using available methods. Luigi Mangione would probably still be walking around if his target had been lower profile than Brian Thompson. If you commit a big enough Bitcoin crime, maybe TPTB make the kind of effort Meiklejohn did to find you. If you're smaller scale with your illicit activities, will you be worth the candle? I suppose it depends on how simple/automated Meiklejohn's methods can be/have been made.

Edited December 10, 2024 by gehringer_2