patrick.net

UkraineIsTotallyFucked says

Then only one I have heard is Venezuela selling their oil (what little they still produce) for crypto to sanctions proof their revenue. All the crypto fluffer idiots them plastered social media with posts like "See! See! The USD's days are FUCKED! Crypto rules!" And many of them automatically assumed it would be Bitcoin...because fluffers gotta fluff, after all.

...then it was revealed that the crypto Caracas is talking about is Tether.

I see, so by fluffers saying it'll replace the $ you saw that on reddit or something - not on patnet.

just_passing_through says

see, so by fluffers saying it'll replace the $ you saw that on reddit or something - not on patnet.

They are supposedly going to offer to sell their oil for Tether. Nothing about replacing the dollar.

Or are you referring to.the fluffers saying that Bitcoin will replace the dollar? They always say that.

Oh looky! Seems that crypto doesn't live up to its jive after all;

Stablecoin issuer Tether has said it will freeze wallets that are using USDT to evade sanctions on oil exports in Venezuela.

The decision comes after Reuters reported that Venezuela’s state-run oil company PDVSA increased its use of tether after the U.S. reimposed sanctions on oil exports.

The firm froze 41 wallets tied to the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) Specially Designated Nationals (SDN) list in December...

https://finance.yahoo.com/news/tether-freeze-wallets-evading-venezuelan-063152292.html

Remember a few years back when Facebook was going to set up its own currency? Libra, I think it was called.

Basically, it was to be a stable coin too. An electronic currency board like Tether is.

The Feds killed that too.

UkraineIsTotallyFucked says

Oh looky! Seems that crypto doesn't live up to its jive after all;

I agree with that - I only support bitcorn as it's the only trustless, truly decentralized and secured with a monster wall of energy. The majority of the rest are scams (where people get rug pulled) or at best wild ass gambling.

I do own some in the wild ass gambling sector though just for fun. I suspect one or a few of those will make it over the long run because they are directly programmable. Bitcorn isn't programmable so if you want to do smart contracts etc., you need to do that on another layer.

Patrick says

They tax it just like anything else: there is no 'crypto' in a digital currency that uses a publicly accessable and trackable transaction ledger.

So if you don't report it and pay taxes on it, they can nail you just like any other non-reported income.

True story. No anonymity.

Except there are services where people send in their bitcorn which gets shuffled with other peoples bitcorn and then returned to them which does obfuscate ownership.

The government is in the process of shutting that down though.

just_passing_through says

Except there are services where people send in their bitcorn which gets shuffled with other peoples bitcorn and then returned to them which does obfuscate ownership.

Yeah, but they a) take their cut and b) that activity contributes to the unsustainable mining problem.

So kiddies! Here is the new word of the day: Steganography

https://en.m.wikipedia.org/wiki/Steganography

https://cryptokait.com/2020/03/02/hiding-in-plain-sight-steganography-tricks-and-tips/

https://www.freecodecamp.org/news/what-is-steganography-hide-data-inside-data/

This or something like it is needed for true crypto currencies to work.

... about that Bitcoin...over $80K a token now.

Crypto is looking at less regulation w/ Trump in office.

Wha ???? - The current scams just ain't enough ????

Misc says

... about that Bitcoin...over $80K a token now.

Yeah, I just paid for a brand new Ford F150 Platinum since the election. I haven't ordered it yet though because the max recline seats are late availability.

DOGEWontAmountToShit says

Bitcoin is a unproductive asset that consumes energy and financial resources that could be used elsewhere more productively.

That's why this tax is wonderful economic policy!

ALL Governments will tax Bitcoin at some point. Some will even tax it's conversion into their currency. There's NO WAY that Governments will let people get away with independent currencies.

Bitcoin is DARPA, and they didn't invent it without a back door. They will at some point just steal tranches and the holders of the wallets will not know what hit them. They'll think it's hackers and not the Guv. It'll be tulip bulb crypto crash Armageddon when the word gets out that it was never 'secure'.

Other cryptos may or may not be more secure. However, given the histories of banksters and account holders, I wouldn't count on any of them actually being secure in the long run. Look how much rampant, Intel sponsored fraud (FTX) has already occurred around crypto. It is even more fiat and speculative than a Federal Reserve Note.

ElYorsh says

ALL Governments will tax Bitcoin at some point. Some will even tax it's conversion into their currency. There's NO WAY that Governments will let people get away with independent currencies.

This too. ^^^

"Western Democracies" squealed like stuck pigs when Zuckerberg was gonna create a crypto currency that could be used on FaceBook.

The threats the man faced ..... just yeah...

https://x.com/SantiagoAuFund/status/1864039725838872940

Markets ??? Manipulated ?????

Cannot be ! ! ! ! ! !

Bitcoin trading at over $103k per token.

Has to be because of its fundamentals.

What could possibly go wrong ?????

Trump coin pulled in over $500 million for the Donald on the day before his inauguration. I dunno how much the Melania coin pulled in.

But considering that Pelosi's grift in the stock market was only about $500 million over the course of 38 years ???

People were screaming corruption over Hunter getting what $80k per month from Burisma and selling artwork for a measly $250k per portrait. So, Hilary made a few million giving speeches to Goldman Sachs and their ilk--- does anyone care??

At least some enterprising soul was able to make a few million by coming up with the Barron coin (no relation to Barron Trump).

I dunno if a prosecutor will be able to charge a regular ol' con-man with fraud after this.

As far as corruption...there's still about $4 billion of Trump coin held by the Donald. I'm sure he will part with the crypto for money and not expect to do anything in return (SURE),

https://www.msn.com/en-us/money/companies/trader-loses-nearly-1m-on-barron-in-just-2-hours-of-fomo-trading/ar-AA1xxkk2

Misc says

People were screaming corruption over Hunter getting what $80k per month from Burisma and selling artwork for a measly $250k per portrait. So, Hilary made a few million giving speeches to Goldman Sachs and their ilk--- does anyone care??

Do you see the difference between buying influence and speculating? That Burisma and the painting were laundered bribes to Biden. Buying a Trumpcoin does not get you any favors or even notice from Trump. You also lump insider trading with a speculative coin? Kinda like saying "Why are folks upset at a guy put who ransomware on a hospital network and extorted $100,000 but not upset at the kid who wrote Angry Birds yet made millions."

HeadSet says

Do you see the difference between buying influence and speculating? That Burisma and the painting were laundered bribes to Biden. Buying a Trumpcoin does not get you any favors or even notice from Trump. You also lump insider trading with a speculative coin? Kinda like saying "Why are folks upset at a guy put who ransomware on a hospital network and extorted $100,000 but not upset at the kid who wrote Angry Birds yet made millions."

No, they don't. To me it's no different than the commemorative gold Trump coins some dipshits buy. It makes the happy though. T-day was only yesterday. Lets see if he does a rug pull then we can judge him. They had some weird comment yesterday on the pharma thread about how stocks should only return the mean value of the company or some crap like that which doesn't reflect human drives. Not just the "free" $ BS in real estate. I don't see it anymore.

HeadSet says

Buying a Trumpcoin does not get you any favors or even notice from Trump.

Well, you can show him or somebody close to him your digital wallet with a shitload of T-coin in it. This will get you noticed.

HeadSet says

You also lump insider trading with a speculative coin? Kinda like saying "Why are folks upset at a guy put who ransomware on a hospital network and extorted $100,000 but not upset at the kid who wrote Angry Birds yet made millions."

I want to know who bought Puts in stocks like Nvadia and GOOGL just before the major market manipulation story of the Chicom's Deep Seek.

I want to know everything about them including their political ideology in relation to the Chicoms

By the way, I'm glad they got this Deep State fucktard: https://www.cnbc.com/2025/01/31/ex-senior-federal-reserve-advisor-charged-with-economic-espionage-to-benefit-china.html

,

"Nooo, movement towards sanity, order, and stability! My precious Buttcoin!"


Retarded Woke and WokeRight buttcoin peddlers really mad that Ye or Bernie didn't win the Presidency.

.

Bitcoin naturally had a rally leading up to Trump's inauguration since Trump is pro crypto.

So the euphoria has subsided for now and the recent Bitcoin balloon has released some air

The smart traders and hedge funds sold some Bitcoin to take their gains, and rotated the money from the gains to another asset.

.

AD says

I would suspect that less than 7% of the global population invests in anything more than a food pantry.

.

Extreme fear with Bitcoin sentiment index

https://alternative.me/crypto/fear-and-greed-index/

.

If 88K is extreme fear, I wonder what 30k would be.

AD says

.

Extreme fear with Bitcoin sentiment index

https://alternative.me/crypto/fear-and-greed-index/

.

Good chance it goes to 73 tomorrow, even if only for a day.

HeadSet says

I would suspect that less than 7% of the global population invests in anything more than a food pantry.

From what I've read, over and over, the uptake for BTC is moving quicker than PCs. I think it was PCs + internet but I could be wrong on both accounts.

By that I mean wallets. There are a lot of very small wallets. Perhaps those aren't singletons people though who knows.

But that's what the PlanB's stock to flow model is all about: https://x.com/100trillionUSD

I think this is a rather large deviation from that model though.

Okay, I did have blonde hair when I was a kid. I just snapped to the fact that the B in PlanB is bitcorn lol... I just never really though about it!

.

still in early stages of Bitcoin being adopted worldwide, and it helped a lot that major brokerages like Blackrock have Bitcoin exchange traded funds



.

Remember that fiat currencies are so worthless & crypto currencies so valuable that dealers in crypto will sell crypto to you in exchange for your worthless fiat currency ....

At least 20 million new bitcoin addresses — about 1.5% of all bitcoin addresses in existence — have been created in the past three months, according to crypto data and analytics firm Glassnode.

The ratio between the prices at which new bitcoin is being bought and sold, known as the spent output profit ratio, has meanwhile dipped to 0.95, its lowest level in over a year and negative for the first time since October, according to estimates from crypto exchange Bitfinex.

https://www.usatoday.com/story/money/investing/2025/03/13/bitcoin-investors-harsh-reality/82373078007/?tbref=hp

https://bitcoinist.com/crypto-reserve-controversy-poll-shows-americans-arent-on-board/

“Only 10% of voters believe the U.S. should increase federal funding for cryptocurrency and blockchain development"

Among Republican voters, 36% of them wanted to decrease the federal funding for digital assets while 31% of them said they wanted the government to retain the current level of spending on digital assets. About 12% of the voters wanted to increase federal spending on cryptos.

About 45% of the respondents wanted to reduce the federal funding for cryptocurrency and blockchain development while 29% of them stated the government should keep the current level of spending on cryptos.

Among Democrat voters, 52% of them wanted to decrease the federal funding for digital assets while 26% of them said they wanted the government to retain the current level of spending on cryptos. Only 9% of the voters wanted to increase federal spending on digital assets.

AD says

“Only 10% of voters believe the U.S. should increase federal funding for cryptocurrency and blockchain development"

1) load of shit pushed by Bitcoin whales who want the taxpayer to bail them out.

or

2) 10% of voters are ignorant morons.

There are over 37 million different crypto tokens.

I don't think we need the governments help to develop more of them.