patrick.net

https://nymag.com/intelligencer/2022/11/it-was-all-a-game-for-sam-bankman-fried.html

From Denninger:

April 25, 2019: Biden announces his presidential campaign.

13 days later, Sam Bankman-Fried, son of Barbara Fried ( Stanford Professor and co-founder of political fundraising organization "Mind-the-Gap), launches #FTX crypto exchange.

The exchange is magically an overnight success. SBF becomes biggest donor to Biden.

Election day, FTX implodes completely.

If you think this scandal is done, it goes even deeper.

-----
Gabe Bankman-Fried, brother to Sam (also a former Jane Street trader), is founder of Guarding Against Pandemics

He was a Legislative Correspondent for the US House of Representatives and an advisor to large political donors in the Democrat party.

The family Aunt Linda Fried is a WEF member on the Global Agenda Council on Aging.

The father, Joseph Bankman is a Stanford professor who has lobbied on behalf of Hedge Fund managers before Congress before (film records exist).

FTX' Head of Ventures & Commercial at FTX Ventures Amy Wu, started with the Clinton Foundation years ago.

Nishad Singh FTX Director of Engineering has spent over 8 million for Dem candidates.

And finally Obama's Commodity Futures Trading Commissioner, Mark Wetjen was literally the head of FTX Policy & Regulation.

Reports were the organization wanted to spend over a billion dollars on the Democratic party for 2024.

Again, for those who think that crypto was invented without a back door. You really think anybody would invent this stuff without a way to control it? Another DARPA/bankster Venus fly trap for the gullible:

https://t.me/BenjaminFulfordWDSGroup/81216

Ceffer says

Another DARPA/bankster Venus fly trap for the gullible:

And the world never runs out of or short of the "gullible". Pick your favorite venue and there will be plenty of takers.

AND....They're trying to get gone! Dubai?
https://t.me/Absolute1776/19697

I really got to quit always being right about stuff.

I'm owed many many many apologies for being savagely flamed for insisting that digital currency was NOT safe and secure from fraud, and deceit.
That it can't be stolen, or clawed back by the FBI. I don't think I got one single thing wrong with my irrational fear of digital currency, Bit-con or otherwise.

I have always maintained that Digital currency that you buy from a guy with a server, is only worth what the guy with the server does with the money you used to back the coinage you bought. If it's an enterprise, and not a bank, then it's crap. It turns out, it's just an enterprise, and not a tangible currency after all.

I was always astounded that anyone would actually take money he earned to buy the crypto nonsense.

The fundamental value of Bitcoin was privacy. Privacy has been removed. Where is the value? All the criminals are using Monero.

Michael Cooke says

The fundamental value of Bitcoin was privacy. Privacy has been removed.

... or wasn't there in the first place.

RWSGFY says

Michael Cooke says

The fundamental value of Bitcoin was privacy. Privacy has been removed.

... or wasn't there in the first place.

This is what really stinks. The CIA/FBI could have always tracked a bitcoin transaction, but never used that ability to shut down ransomware crooks.

“Not all crypto is fraud … some of it’s just a Ponzi scheme.”

-- Peter Zeihan

Binance See Withdrawals Of $1.9 Billion In Last 24 Hours, Data Firm Nansen Says

Binance has seen withdrawals of $1.9 billion in the last 24 hours, blockchain data firm Nansen said on Tuesday, as the world's biggest crypto exchange said it had "temporarily paused" withdrawals of the USDC stablecoin.

Scrutiny of how crypto exchanges such as Binance and its now-bankrupt former rival FTX handle customer deposits is under close scrutiny from users and regulators. FTX's founder Sam Bankman-Fried was charged by the U.S. Securities and Exchange Commission on Tuesday with defrauding investors.

https://www.ibtimes.com/binance-see-withdrawals-19-billion-last-24-hours-data-firm-nansen-says-3646717

Nobody uses it for cash, this is just stupid. It's true fees can be that high (or lower or higher depending on the network state) though. Layers like the lightning network bundle multiple transactions which spreads out the fees so they are basically nada though (and complete much more quickly as well vs. every 10 mins).

This is pretty funny:

In The Murder Capital Of Argentina Selling Bitcoin…

https://www.youtube.com/watch?v=X2JO5Ok9Mo4

(but also stupid)

just_passing_through says

Nobody uses it for cash, this is just stupid. It's true fees can be that high (or lower or higher depending on the network state) though. Layers like the lightning network bundle multiple transactions which spreads out the fees so they are basically nada though (and complete much more quickly as well vs. every 10 mins).

Really? But the Bitcoin fluffers told us this shit is going to replace fiat currencies!

Currency, fiat or otherwise, need to have transaction utility in order to be...em, currency.

UkraineIsTotallyFucked says

Really? But the Bitcoin fluffers told us this shit is going to replace fiat currencies!

Currency, fiat or otherwise, need to have transaction utility in order to be...em, currency.

Which fluffer told you that? It certainly wasn't me and I haven't heard of people discussing that use case for a decade - since John Stossel spent something like 20 coins to buy food at a taco truck in Austin.

It's a commodity, a financial instrument, a savings vehicle, an electrical grid stabilizer (helping a lot here in Texas) among other things.

Tell me who told you it's a currency? At least in a 1st world country. Sure there are some small timers in Turkey, Africa and Nicaragua with their Chivo wallets but that's about it. Places with shit or no banks.

Understand How Bitcoin Mining helps the Texas Power Grid:

https://www.youtube.com/watch?v=AITyabbqyeo

just_passing_through says

Understand How Bitcoin Mining helps the Texas Power Grid:

https://www.youtube.com/watch?v=AITyabbqyeo

Bullshit bitcoin fluffing infomercial.

We will need to generate twice the power we do to handle the rapid re-industrialization going on in the US. That means bullshit power consumption like bitcoin and EV charging is going to be taking a back seat, one way or another.

UkraineIsTotallyFucked says

Bullshit bitcoin fluffing infomercial.

We will need to generate twice the power we do to handle the rapid re-industrialization going on in the US. That means bullshit power consumption like bitcoin and EV charging is going to be taking a back seat, one way or another.

You weren't stuck in a snowstorm for 4 days with no power, cell, internet or water here in Texas a few years ago (I still lived in CA at the time) like I was. It has absolutely helped stabilize our janky electrical grid that was damaged by reducing fossil fuels and going 'green'.

True, it'll take much more than that to make Texas energy great again but it helps.

just_passing_through says

You weren't stuck in a snowstorm for 4 days with no power, cell, internet or water here in Texas a few years ago (I still lived in CA at the time) like I was. It has absolutely helped stabilize our janky electrical grid that was damaged by reducing fossil fuels and going 'green'.

non-sequitor

UkraineIsTotallyFucked says

non-sequitor

Sure.