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CNBC: Ethereum hits another record high, marking a more than 2,800% rally this year


No Excuses

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18 minutes ago, No Excuses said:

 

Same. What I posted in the last page, about Tether and Bitfinex is actually under federal investigation now. Reported a couple days ago, I think just after I posted.

 

Bitfinex was subpoenaed back in early December (not a few days ago) but they've still been issuing new Tether since then. You'd think if something nefarious was going on, they'd have stopped after the federal subpoena.

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17 hours ago, No Excuses said:

 

Same. What I posted in the last page, about Tether and Bitfinex is actually under federal investigation now. Reported a couple days ago, I think just after I posted.

I just listened to this morning's senate hearing on crypto. Regulation is coming. They didnt mention it but they are going to smoke tether and bitfinex at some point. Very aggressive attitude toward fraudulent activity. 

 

This is really good for the long term. 

 

I'm buying more when we bottom out. 

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18 hours ago, ExoDus84 said:

 

Bitfinex was subpoenaed back in early December (not a few days ago) but they've still been issuing new Tether since then. You'd think if something nefarious was going on, they'd have stopped after the federal subpoena.

 

I'm sure the Bulgarian gangsters behind this BS are focusing on getting their houses in order for the feds.

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20 hours ago, ExoDus84 said:

 

Bitfinex was subpoenaed back in early December (not a few days ago) but they've still been issuing new Tether since then. You'd think if something nefarious was going on, they'd have stopped after the federal subpoena.

 

The opening of the investigation in December wasn't reported until a few days ago (read what I wrote).

 

The feds still haven't openly disclosed the investigation as far as I know. 

 

Quote

The U.S. Commodity Futures Trading Commission sent subpoenas on Dec. 6 to virtual-currency venue Bitfinex and Tether, a company that issues a widely traded coin and claims it’s pegged to the dollar, according to a person familiar with the matter, who asked not to be identified discussing private information. The firms share the same chief executive officer.

 

https://www.bloomberg.com/news/articles/2018-01-30/crypto-exchange-bitfinex-tether-said-to-get-subpoenaed-by-cftc

 

Bitfinex would be underwater at the moment if its executives hadn't started scamming the industry by creating Tether. It is really no surprise that they are going to ride this out by continuing to flush the market with what is essentially counterfeit money.

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23 minutes ago, No Excuses said:

Bitfinex would be underwater at the moment if its executives hadn't started scamming the industry by creating Tether. It is really no surprise that they are going to ride this out by continuing to flush the market with what is essentially counterfeit money.

 

How do you know Bitfinex would be underwater? Have they released financials? The big exchanges should be swimming in cash, honestly. Some of them charge a noticeably fee for each trade.

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9 minutes ago, ExoDus84 said:

 

How do you know Bitfinex would be underwater? Have they released financials? The big exchanges should be swimming in cash, honestly. Some of them charge a noticeably fee for each trade.

 

They lost a ton of money when they were hacked in 2016. 

 

They've been trying one fraudulent scheme after another since then.

 

No professional audits like they promised.

 

https://arstechnica.com/tech-policy/2018/02/tether-says-its-cryptocurrency-is-worth-2-billion-but-its-audit-failed/

 

They could be financially solvent. But based on how they have behaved since, and the absolute lack of transparency, there is a 0% chance their operations are legitimate.

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  • 1 month later...
  • 1 month later...

Props to whoever came up with this title they are my hero

 

https://grist.org/article/bitcoins-energy-use-got-studied-and-you-libertarian-nerds-look-even-worse-than-usual/amp/?__twitter_impression=true

Bitcoin’s energy use got studied, and you libertarian nerds look even worse than usual

By Eric Holthaus on May 17, 2018 4:58 am EDT

 

Bitcoin’s energy footprint has more than doubled since Grist first wrote about it six months ago.

It’s expected to double again by the end of the year, according to a new peer-reviewed study out Wednesday. And if that happens, bitcoin would be gobbling up 0.5 percent of the world’s electricity, about as much as the Netherlands.

That’s a troubling trajectory, especially for a world that should be working overtime to root out energy waste and fight climate change. By late next year, bitcoin could be consuming more electricity than all the world’s solar panels currently produce — about 1.8 percent of global electricity, according to a simple extrapolation of the study’s predictions. That would effectively erase decades of progress on renewable energy.

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On 5/17/2018 at 1:59 PM, zoony said:

Props to whoever came up with this title they are my hero

 

https://grist.org/article/bitcoins-energy-use-got-studied-and-you-libertarian-nerds-look-even-worse-than-usual/amp/?__twitter_impression=true

Bitcoin’s energy use got studied, and you libertarian nerds look even worse than usual

There is no doubt that bit coin will consume a lot of energy. I'm not sure how much that amount will increase in the future but there is discussion of ways to reduce such high electrical demand.

 

You also must keep in mind how much energy the current system of money (fiat/electronic) consumes. It's not a small amount. 

 

There will probably one be 1 or 2 proof of work (high energy demanding blockchains like bitcoin) cryptos that survive and their high energy demand via mining is also what keeps them secure. That is part of the reason why bit coin is sometimes called digital gold.

 

Most other cryptos have a different basis to run their code to establish their blockchains. They vary in type but can require negligible energy. The tech is still developing in that regard. 

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On 2/6/2018 at 2:06 PM, No Excuses said:

 

They lost a ton of money when they were hacked in 2016. 

 

They've been trying one fraudulent scheme after another since then.

There is no doubt in my mind that tether is dirty. 

 

There are some stable coins out there that are aiming to be legit. 

 

True USD is a contender. I think there is one backed by gold as well. 

 

So maybe tether will just work it's way out of the system on the next bullrun.

 

But probably some regulating force will be pressured to go after them and the market will react in chaos. 

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  • 3 weeks later...

https://krebsonsecurity.com/2018/08/florida-man-arrested-in-sim-swap-conspiracy/


 

Quote

 

Police in Florida have arrested a 25-year-old man accused of being part of a multi-state cyber fraud ring that hijacked mobile phone numbers in online attacks that siphoned hundreds of thousands of dollars worth of bitcoin and other cryptocurrencies from victims.

On July 18, 2018, Pasco County authorities arrested Ricky Joseph Handschumacher, an employee of the city of Port Richey, Fla, charging him with grand theft and money laundering. Investigators allege Handschumacher was part of a group of at least nine individuals scattered across multiple states who for the past two years have drained bank accounts via an increasingly common scheme involving mobile phone “SIM swaps.”

 

They paid insiders at the wireless telecom companies to assist them. Sigh...

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  • 4 weeks later...

Just checked my Coinbase account for the first time in forever.  I invested $87 back on 12/13/17.  My portfolio is now worth $19.53.  Yay!

 

I'm just glad I didn't invest much.  I'm in it for the long haul, hopefully there is a rebound at some point and I'll get my money back.  

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