Bitcoin-Explain to me how to buy these things (1 Viewer)

[brun]

Figured btc would do well on inauguration day. So far, so good.

I stay away from meme coins, but hope someone here made a killing with Trump and/or Melania.

 

[Chaos34]

Figured btc would do well on inauguration day. So far, so good.

I stay away from meme coins, but hope someone here made a killing with Trump and/or Melania.

I did. I saw the initial post on Truth Social since I use an AI newscraper for under-reported news. Went to the site - and this is such a damn shame - bought $100 worth with a debit card at .25. That's worth over 20 grand atm. I saw it mooning and used moonshot for another $1000 worth at $11. That's worth about 55k atm. For all the "homerun swings" like this I tried years ago, several times right here in this thread, this is the first score.

There's something so wrong about this (from my crypto dreams world view) that I feel little excitement over a bag growing +70k over the weekend. I'm sitting here trying to decide to hodl a bit, maybe move 20k worth to btc, or move it all. I can't explain why I feel disassociated from this score. Cuban has been ranting a little and he's right, I think. Beniamin Mincui, the EGLD founder, has a more balanced tweet out there I can't find atm, but this really sucked a lot of liquidity from legit projects. Saylor wasn't pleased, ya know, after all the pro-btc campaigning. Such a money grab. So stinky. Memes have to be counterproductive in the big hopeful dream of crypto legitimacy bla bla bla.

Anyway. I've been truck shopping around 25 - 30k used. Maybe I treat myself?

 

[brun]

Figured btc would do well on inauguration day. So far, so good.

I stay away from meme coins, but hope someone here made a killing with Trump and/or Melania.

I did. I saw the initial post on Truth Social since I use an AI newscraper for under-reported news. Went to the site - and this is such a damn shame - bought $100 worth with a debit card at .25. That's worth over 20 grand atm. I saw it mooning and used moonshot for another $1000 worth at $11. That's worth about 55k atm. For all the "homerun swings" like this I tried years ago, several times right here in this thread, this is the first score.

There's something so wrong about this (from my crypto dreams world view) that I feel little excitement over a bag growing +70k over the weekend. I'm sitting here trying to decide to hodl a bit, maybe move 20k worth to btc, or move it all. I can't explain why I feel disassociated from this score. Cuban has been ranting a little and he's right, I think. Beniamin Mincui, the EGLD founder, has a more balanced tweet out there I can't find atm, but this really sucked a lot of liquidity from legit projects. Saylor wasn't pleased, ya know, after all the pro-btc campaigning. Such a money grab. So stinky. Memes have to be counterproductive in the big hopeful dream of crypto legitimacy bla bla bla.

Anyway. I've been truck shopping around 25 - 30k used. Maybe I treat myself?

Outstanding!
Agree with everything you posted. But, that's the game. Definitely deserve to reward yourself somehow.

 

[FreeBaGeL]

Figured btc would do well on inauguration day. So far, so good.

I stay away from meme coins, but hope someone here made a killing with Trump and/or Melania.

I did. I saw the initial post on Truth Social since I use an AI newscraper for under-reported news. Went to the site - and this is such a damn shame - bought $100 worth with a debit card at .25. That's worth over 20 grand atm. I saw it mooning and used moonshot for another $1000 worth at $11. That's worth about 55k atm. For all the "homerun swings" like this I tried years ago, several times right here in this thread, this is the first score.

There's something so wrong about this (from my crypto dreams world view) that I feel little excitement over a bag growing +70k over the weekend. I'm sitting here trying to decide to hodl a bit, maybe move 20k worth to btc, or move it all. I can't explain why I feel disassociated from this score. Cuban has been ranting a little and he's right, I think. Beniamin Mincui, the EGLD founder, has a more balanced tweet out there I can't find atm, but this really sucked a lot of liquidity from legit projects. Saylor wasn't pleased, ya know, after all the pro-btc campaigning. Such a money grab. So stinky. Memes have to be counterproductive in the big hopeful dream of crypto legitimacy bla bla bla.

Anyway. I've been truck shopping around 25 - 30k used. Maybe I treat myself?

I got in at $9 and then a bigger chunk at $17 but I feel like you about the whole thing. This is bad for crypto overall. This coin was released on the scammiest terms (80% locked for the team/Trump, huge insider buying seconds after launch that was flipped for tens of millions of $$). It's just straight up legitimized insider trading and pump and dumping by the highest office in the land.

What kind of world we live in when Alex freaking Becker releases his coins as fair launces but the actual heads of the government release crappy scam coins.

And of course, all of his buds got to get in on their own scams too.

Even a lot of the big crypto bulls who haven't waivered through the bearest of bear markets are pretty pissed about this.

 

[SFBayDuck]

Figured btc would do well on inauguration day. So far, so good.

I stay away from meme coins, but hope someone here made a killing with Trump and/or Melania.

I did. I saw the initial post on Truth Social since I use an AI newscraper for under-reported news. Went to the site - and this is such a damn shame - bought $100 worth with a debit card at .25. That's worth over 20 grand atm. I saw it mooning and used moonshot for another $1000 worth at $11. That's worth about 55k atm. For all the "homerun swings" like this I tried years ago, several times right here in this thread, this is the first score.

There's something so wrong about this (from my crypto dreams world view) that I feel little excitement over a bag growing +70k over the weekend. I'm sitting here trying to decide to hodl a bit, maybe move 20k worth to btc, or move it all. I can't explain why I feel disassociated from this score. Cuban has been ranting a little and he's right, I think. Beniamin Mincui, the EGLD founder, has a more balanced tweet out there I can't find atm, but this really sucked a lot of liquidity from legit projects. Saylor wasn't pleased, ya know, after all the pro-btc campaigning. Such a money grab. So stinky. Memes have to be counterproductive in the big hopeful dream of crypto legitimacy bla bla bla.

Anyway. I've been truck shopping around 25 - 30k used. Maybe I treat myself?

I got in at $9 and then a bigger chunk at $17 but I feel like you about the whole thing. This is bad for crypto overall. This coin was released on the scammiest terms (80% locked for the team/Trump, huge insider buying seconds after launch that was flipped for tens of millions of $$). It's just straight up legitimized insider trading and pump and dumping by the highest office in the land.

What kind of world we live in when Alex freaking Becker releases his coins as fair launces but the actual heads of the government release crappy scam coins.

And of course, all of his buds got to get in on their own scams too.

Even a lot of the big crypto bulls who haven't waivered through the bearest of bear markets are pretty pissed about this.

Love the note under that tweet:

Readers added context
The $MELANIA "memecoin" does not match their reported tokenomics with 89% being held by a single wallet.Buying this token is incredibly risky and will likely result in the loss of funds.

 

[SFBayDuck]

Anyway. I've been truck shopping around 25 - 30k used. Maybe I treat myself?

Buy the truck!!!

 

[Desert_Power]

And of course, all of his buds got to get in on their own scams too.

Essentially seems to be the use case for SOL

 

[Dickies]

I hope this doesn't cross the no politics threshold, but as someone who has been hoping that all of these scammers rug pulling s@#! coins would face consequences for their actions we now have the POTUS and First Lady launching a scam coin and rugging it right before assuming office. Unreal.

 

[SFBayDuck]

I hope this doesn't cross the no politics threshold, but as someone who has been hoping that all of these scammers rug pulling s@#! coins would face consequences for their actions we now have the POTUS and First Lady launching a scam coin and rugging it right before assuming office. Unreal.

Gensler probably hadn’t even pulled out of the SEC parking lot yet and this stuff had already ramped up. There seems to be no question there will be much less regulation going forward.
Hopefully that’s good for the larger coins that I’ve got some holdings in, and even a couple of the dog-related ones I have a small share of.

But the **** coining and rug pulling is going to reach epic proportions, and could absolutely start to have a negative impact on the “legitimate” part of the space.

 

[Ridgeback]

Let the grifting begin. This is just the start. The scams are about to get unreal.

 

[Chaos34]

Just an update. I converted to btc twice today as the derned thing was cratering. Is this a hock tuah level pump and dump? Pff. I'm out with a gain of a little less that .3 btc, a little more than 30k. I guess my numbers above were wrong and based on its ath, not where it was before I had coffee. So that's that. Nice score. Feel dirty. Hate Trump in so many non-political ways.

Something is wrong with Coinbase and SOL. Many blaming this pump and dump for overwhelming the CEX or contriving conspiracies about this mess. Transactions are being delayed as long as 30 hours and some are being cancelled without explanation. Coinbase's customer service has always been terrible and from what I'm seeing on X it's just brutal. I've never used Coinbase. I've used Binance a little but always preach DeFi. My transactions were on-chain and instant.

x.com

x.com

 

[Ilov80s]

Just an update. I converted to btc twice today as the derned thing was cratering. Is this a hock tuah level pump and dump? Pff. I'm out with a gain of a little less that .3 btc, a little more than 30k. I guess my numbers above were wrong and based on its ath, not where it was before I had coffee. So that's that. Nice score. Feel dirty. Hate Trump in so many non-political ways.

Something is wrong with Coinbase and SOL. Many blaming this pump and dump for overwhelming the CEX or contriving conspiracies about this mess. Transactions are being delayed as long as 30 hours and some are being cancelled without explanation. Coinbase's customer service has always been terrible and from what I'm seeing on X it's just brutal. I've never used Coinbase. I've used Binance a little but always preach DeFi. My transactions were on-chain and instant.

x.com

x.com

As a curious outside observer can you explain this to me in easy to understand terms? I just genuinely want to know what all of hisis about.

 

[Chaos34]

As a curious outside observer can you explain this to me in easy to understand terms? I just genuinely want to know what all of hisis about.

Not really. Crypto is complicated until it isn't. I've found explaining it to be so cumbersome my efforts hardly help. I don't know what you do or don't know. It's a new language in some ways. So is AI. In that sense, it feels like you just said teach me to speak French in easy to understand terms.

There's 100s of tutorials online done by people way better at explaining than me. Start with one that says "basics" or "beginners". Use YouTube if that works best for you, or find written "courses" at places like Crypto.com. They call it Crypto.com University. I tell people I have a degree in crypto. It took longer than 4 years. There's a beginner's guide. Get a wallet. Make a buy.

If you're just trying to understand what Trump did, well, he minted his own currency while holding 80% of the supply. He priced it at 18 cents and launched a price pump with god knows who buying it up by the billions. It skyrocketed. He was worth 6-8 billion before doing this. His 80% is worth 4 times that now.

Anyone want to help me here?

 

[Ilov80s]

If you're just trying to understand what Trump did, well, he minted his own currency while holding 80% of the supply. He priced it at 18 cents and launched a price pump with god knows who buying it up by the billions. It skyrocketed. He was worth 6-8 billion before doing this. His 80% is worth 4 times that now.

I get the general idea but who is really is buying it up? It must be good for crypto obviously because Trump is the big crypto guy and he understands it better than us.

 

[Chaos34]

I get the general idea but who is really is buying it up?

Who do you think? We can track transactions right down to the wallet address, but we cannot identify the wallet owner. Everything is speculative but the blockchain analysts are digging. I'll speculate. It was Musk, Bezos, Zuckerberg, and all the other billionaires giggling and partying at the inauguration. Oh yeah, and Putin.

 

[FreeBaGeL]

Just an update. I converted to btc twice today as the derned thing was cratering. Is this a hock tuah level pump and dump? Pff. I'm out with a gain of a little less that .3 btc, a little more than 30k. I guess my numbers above were wrong and based on its ath, not where it was before I had coffee. So that's that. Nice score. Feel dirty. Hate Trump in so many non-political ways.

Something is wrong with Coinbase and SOL. Many blaming this pump and dump for overwhelming the CEX or contriving conspiracies about this mess. Transactions are being delayed as long as 30 hours and some are being cancelled without explanation. Coinbase's customer service has always been terrible and from what I'm seeing on X it's just brutal. I've never used Coinbase. I've used Binance a little but always preach DeFi. My transactions were on-chain and instant.

x.com

x.com

I initiated a transfer of 10 SOL from Coinbase to a wallet right after the Melania coin dropped. It just completed about 5 minutes ago. So around 28 hours or so in total to transfer from CB to a wallet.

 

[FreeBaGeL]

If you're just trying to understand what Trump did, well, he minted his own currency while holding 80% of the supply. He priced it at 18 cents and launched a price pump with god knows who buying it up by the billions. It skyrocketed. He was worth 6-8 billion before doing this. His 80% is worth 4 times that now.

I get the general idea but who is really is buying it up? It must be good for crypto obviously because Trump is the big crypto guy and he understands it better than us.

It's bad for crypto in a couple of ways.

For starters it sucked a ton of liquidity from good projects into as scammy a designed meme coin as could be drawn up. Real projects with real utility all over the place tanked as people raced to clear liquidity.

But that was really just a small side effect. The larger negative is that it legitimized all of the arguments that crypto is just scammy grifting ********, a way for people to immorally and illegally extract money by misleading other people, and once again turns the attention away from real projects that can actually make products better.

Though worst of all, it just legimizes pump and dump and insider trading as the new norm. Even in the crypto world, the most degenerate world there is, people look for fair launches in coins and generally consider a coin launched with even half this scammy of tokenomics to be the most unsavory thing someone can do, and wish those people could be prosecuted were it not for their anonymity behind the launch. But here, completely publicly doxed, is a coin twice as bad, with millions of dollars in buying seconds after the drop that was then flipped for 10s of millions, completely legitimized insider trading.

The Melania release was somehow even worse because they appear to have lied about the tokenomics, which would be like a company lying about their IPO or earnings reports to intentionally mislead investors. Think of how the world generally views WeWork or Enron, and consider that this was basically doing that out in the open and the world just shrugging it off.

Another way to consider this is how quickly it turned pro-crypto, pro-Trump full cult maniacs on an instant 180 against him in one fell swoop. Of course, in meme form.

Here one of the most popular pro Trump crypto influencers, after saying he's embarrassed and regretting his vote, posted this meme, which honestly kind of sums it up: https://x.com/ZssBecker/status/1881272781968756936

There are also many of these crypto bulls that have been banging the wagon every day for years to get rid of Gary Gensler as their great crusade, immediately lamenting that maybe they were wrong on day 1 of him being gone.

 

[Ridgeback]

This seems appropriate.

 

[Sand]

I hope this doesn't cross the no politics threshold, but as someone who has been hoping that all of these scammers rug pulling s@#! coins would face consequences for their actions we now have the POTUS and First Lady launching a scam coin and rugging it right before assuming office. Unreal.

These products (i.e. all of these meme coins, not just this one) based solely on the Great Fool Theory are a terrible thing for crypto.

 

[Mitchie]

If you're just trying to understand what Trump did, well, he minted his own currency while holding 80% of the supply. He priced it at 18 cents and launched a price pump with god knows who buying it up by the billions. It skyrocketed. He was worth 6-8 billion before doing this. His 80% is worth 4 times that now.

I get the general idea but who is really is buying it up? It must be good for crypto obviously because Trump is the big crypto guy and he understands it better than us.

unlikely

 

[Ilov80s]

If you're just trying to understand what Trump did, well, he minted his own currency while holding 80% of the supply. He priced it at 18 cents and launched a price pump with god knows who buying it up by the billions. It skyrocketed. He was worth 6-8 billion before doing this. His 80% is worth 4 times that now.

I get the general idea but who is really is buying it up? It must be good for crypto obviously because Trump is the big crypto guy and he understands it better than us.

unlikely

If he doesn’t know crypto so well and isn’t good for crypto why did he generally have the support of that community in November?

 

[Chaos34]

If you're just trying to understand what Trump did, well, he minted his own currency while holding 80% of the supply. He priced it at 18 cents and launched a price pump with god knows who buying it up by the billions. It skyrocketed. He was worth 6-8 billion before doing this. His 80% is worth 4 times that now.

I get the general idea but who is really is buying it up? It must be good for crypto obviously because Trump is the big crypto guy and he understands it better than us.

unlikely

If he doesn’t know crypto so well and isn’t good for crypto why did he generally have the support of that community in November?

At the risk of being political, the former administration was firmly anti-crypto to the point of starting and losing several lawsuits. The crypto army had nowhere else to go, desperately wanted better treatment, and the current administration obliged. Saying he isn't good for crypto is wrong cuz you have to consider in comparison to what?

 

[urbanhack]

If you're just trying to understand what Trump did, well, he minted his own currency while holding 80% of the supply. He priced it at 18 cents and launched a price pump with god knows who buying it up by the billions. It skyrocketed. He was worth 6-8 billion before doing this. His 80% is worth 4 times that now.

I get the general idea but who is really is buying it up? It must be good for crypto obviously because Trump is the big crypto guy and he understands it better than us.

unlikely

If he doesn’t know crypto so well and isn’t good for crypto why did he generally have the support of that community in November?

deregulation...because it meant more people would like him.

 

[Ilov80s]

If you're just trying to understand what Trump did, well, he minted his own currency while holding 80% of the supply. He priced it at 18 cents and launched a price pump with god knows who buying it up by the billions. It skyrocketed. He was worth 6-8 billion before doing this. His 80% is worth 4 times that now.

I get the general idea but who is really is buying it up? It must be good for crypto obviously because Trump is the big crypto guy and he understands it better than us.

unlikely

If he doesn’t know crypto so well and isn’t good for crypto why did he generally have the support of that community in November?

deregulation...because it meant more people would like him.

Why is deregulation good for crypto?

 

[urbanhack]

If you're just trying to understand what Trump did, well, he minted his own currency while holding 80% of the supply. He priced it at 18 cents and launched a price pump with god knows who buying it up by the billions. It skyrocketed. He was worth 6-8 billion before doing this. His 80% is worth 4 times that now.

I get the general idea but who is really is buying it up? It must be good for crypto obviously because Trump is the big crypto guy and he understands it better than us.

unlikely

If he doesn’t know crypto so well and isn’t good for crypto why did he generally have the support of that community in November?

deregulation...because it meant more people would like him.

Why is deregulation good for crypto?

pump and dumps, no oversight from the SEC, etc. etc.

I'm sure there were tax implications as well.

 

[SFBayDuck]

If you're just trying to understand what Trump did, well, he minted his own currency while holding 80% of the supply. He priced it at 18 cents and launched a price pump with god knows who buying it up by the billions. It skyrocketed. He was worth 6-8 billion before doing this. His 80% is worth 4 times that now.

I get the general idea but who is really is buying it up? It must be good for crypto obviously because Trump is the big crypto guy and he understands it better than us.

unlikely

If he doesn’t know crypto so well and isn’t good for crypto why did he generally have the support of that community in November?

deregulation...because it meant more people would like him.

Why is deregulation good for crypto?

Short term? Because it makes it easier for more money from more people, in many cases uneducated on the space and unaware of the risks, to pour into crypto.

Long term it may not end up being "good for crypto". But neither politicians (blanket statement, not directed at either party) nor the people currently "transferring wealth" to themselves care about long term. More ETFs, probably a good thing for the legitimization of the space. Sucking liquidity from legitimate projects into meme coins, the average joe regularly getting rug pulled, increased fraud (with little fear of prosecution), and a potential backlash and overcorrection in regulations against crypto at some point sure wouldn't seem to be bullish for the space.

 

[Ilov80s]

If you're just trying to understand what Trump did, well, he minted his own currency while holding 80% of the supply. He priced it at 18 cents and launched a price pump with god knows who buying it up by the billions. It skyrocketed. He was worth 6-8 billion before doing this. His 80% is worth 4 times that now.

I get the general idea but who is really is buying it up? It must be good for crypto obviously because Trump is the big crypto guy and he understands it better than us.

unlikely

If he doesn’t know crypto so well and isn’t good for crypto why did he generally have the support of that community in November?

deregulation...because it meant more people would like him.

Why is deregulation good for crypto?

pump and dumps, no oversight from the SEC, etc. etc.

I'm sure there were tax implications as well.

But how is that good for average person with money/interest in crypto? Of course I get how it helps the people who are already sitting at the top but why did the larger mass of crypto interested people want it?

 

[Chaos34]

But how is that good for average person with money/interest in crypto? Of course I get how it helps the people who are already sitting at the top but why did the larger mass of crypto interested people want it?

Want what?

 

[Ilov80s]

But how is that good for average person with money/interest in crypto? Of course I get how it helps the people who are already sitting at the top but why did the larger mass of crypto interested people want it?

Want what?

Deregulation. I mean it get your argument on it was seen as the lesser of two evils.

 

[Dezbelief]

why did the larger mass of crypto interested people want it?

The one crypto bro I know in daily life is rooting for the US government and state governments to acquire a strategic reserves so crypto prices increase.

 

[Ilov80s]

why did the larger mass of crypto interested people want it?

The one crypto bro I know in daily life is rooting for the US government and state governments to acquire a strategic reserves so crypto prices increase.

That makes sense.

 

[urbanhack]

If you're just trying to understand what Trump did, well, he minted his own currency while holding 80% of the supply. He priced it at 18 cents and launched a price pump with god knows who buying it up by the billions. It skyrocketed. He was worth 6-8 billion before doing this. His 80% is worth 4 times that now.

I get the general idea but who is really is buying it up? It must be good for crypto obviously because Trump is the big crypto guy and he understands it better than us.

unlikely

If he doesn’t know crypto so well and isn’t good for crypto why did he generally have the support of that community in November?

deregulation...because it meant more people would like him.

Why is deregulation good for crypto?

pump and dumps, no oversight from the SEC, etc. etc.

I'm sure there were tax implications as well.

But how is that good for average person with money/interest in crypto? Of course I get how it helps the people who are already sitting at the top but why did the larger mass of crypto interested people want it?

It's not about the average person. Nothing from this admin will be about the average person. Sorry. my only quip.

 

[Chaos34]

But how is that good for average person with money/interest in crypto? Of course I get how it helps the people who are already sitting at the top but why did the larger mass of crypto interested people want it?

Want what?

Deregulation. I mean it get your argument on it was seen as the lesser of two evils.

Ugh. Gonna make me write too much. The crypto army isn't united. There's factions. I think it's false to say anyone wants deregulation because there's just very little regulation aside from what's in the tax code. The meme-bros don't want government to interfere with their ponzi games, and right now, as pointed out above, memes are the game. So they don't want deregulation. They just don't want regulation.

On the other hand, the more respectable faction, has been pro-regulation for years. Ripple's big winning argument was arguing against regulation by enforcement. There was no regulation for them to violate so the gov just claimed XRP was a security kind of out of the blue. The lack of regulation had Ripple arguing for, and this is the sort of famous line, clear regulatory guidelines. Consistent clear regulation has been the desire of the respectable faction ever since. The crypto army embraces regulation in that it fosters the technology they're building, treats them fairly, and what's good for the goose is good for the gander in financial market regulation. Overall this type of regulation is wanted and there really isn't a need or desire for deregulating any current regulations I can think of.

 

[Ilov80s]

If you're just trying to understand what Trump did, well, he minted his own currency while holding 80% of the supply. He priced it at 18 cents and launched a price pump with god knows who buying it up by the billions. It skyrocketed. He was worth 6-8 billion before doing this. His 80% is worth 4 times that now.

I get the general idea but who is really is buying it up? It must be good for crypto obviously because Trump is the big crypto guy and he understands it better than us.

unlikely

If he doesn’t know crypto so well and isn’t good for crypto why did he generally have the support of that community in November?

deregulation...because it meant more people would like him.

Why is deregulation good for crypto?

pump and dumps, no oversight from the SEC, etc. etc.

I'm sure there were tax implications as well.

But how is that good for average person with money/interest in crypto? Of course I get how it helps the people who are already sitting at the top but why did the larger mass of crypto interested people want it?

It's not about the average person. Nothing from this admin will be about the average person. Sorry. my only quip.

I just mean it seemed like average X user with any interest in crypto was on board but not sure why exactly. I guess the answer could be Biden was so anti-crypto they saw no other alternative. Seems weird that this one issue is the defining one for some people but I guess nothing is ever too surprising, people are weird.

 

[Chaos34]

I guess the answer could be Biden was so anti-crypto they saw no other alternative

It's that simple. Didn't matter who ran against Harris. She seemed more determined than Biden to attack the crypto industry. Any alternative had the crypto vote. Same could be said for Musk. He feared he could lose one of the suits Harris would support and end up in jail if she won. Didn't matter who was running against her. Musk had little choice but to go all in.

 

[SFBayDuck]

Seems weird that this one issue

A huge percentage of people vote based on a single issue.

 

[urbanhack]

I guess the answer could be Biden was so anti-crypto they saw no other alternative

It's that simple. Didn't matter who ran against Harris. She seemed more determined than Biden to attack the crypto industry. Any alternative had the crypto vote. Same could be said for Musk. He feared he could lose one of the suits Harris would support and end up in jail if she won. Didn't matter who was running against her. Musk had little choice but to go all in.

https://www.washingtonpost.com/business/2024/09/26/crypto-kamala-harris-bitcoin/

 

[Chaos34]

I guess the answer could be Biden was so anti-crypto they saw no other alternative

It's that simple. Didn't matter who ran against Harris. She seemed more determined than Biden to attack the crypto industry. Any alternative had the crypto vote. Same could be said for Musk. He feared he could lose one of the suits Harris would support and end up in jail if she won. Didn't matter who was running against her. Musk had little choice but to go all in.

https://www.washingtonpost.com/business/2024/09/26/crypto-kamala-harris-bitcoin/

Too little too late. Nobody paying close attention believed her. She turned down an opportunity to discuss her positions at length and was mocked on every crypto site/forum/social media I read.

 

[Chaos34]

I'm gonna stop cuz this is so close to stepping over the line politically here. We should all stop. @Ilov80s pushing it with the questions... sorry joe.

 

[Desert_Power]

Musk had little choice but to go all in.

I mean, he doesn't have to do a lot of things that appear to be securities fraud. Or maybe he does.

 

[FreeBaGeL]

Modern fiat and banks are so unimaginably stupid alongside the invention of the blockchain that does all of it better and cheaper.

Modern fiat and banks have wasted hours of my life the last 2 days, and strained relationships with my clients by making their lives worse too.

First we had a client that we needed to pay $6285 to, but for personal reasons he needed it quickly. Faster than the 2-7 days of an ACH transfer, so he asked us to send via Zelle. Zelle, firstly, capped the amount we could send at $5000 because even though it's my money, they get to decide what we do with it. Then when the funds were sent, Zelle, which is usually instant, decided they were going to hold the funds for review and the client will receive them after review in 2+ days. So basically worthless, and the remaining $1285 had to go via slow ACH.

If solana or sui or a USD blockchain similar to those were our form of currency I could have moved that $6285 to the client in full, in 5 seconds, for pennies (most likely fractions of a penny).

Next, since our clients constantly complain about how slow our current ACH vendor is (quickbooks), and that it usually takes over a week to receive their funds after we schedule it, we decided to just schedule the ACH's direct from Chase since it's usually faster (but still several days). We pay $2.50 per transaction for this. On our first 12 attempts, all 12 were flagged as "under review". For each, I had to wait for a call, answer a slew of questions (do you know the recipient, etc), then go through 3 identity verification questions (what was your first car, etc). As if that wasn't annoying enough, on the 12th of those apparently I answered one of the verification questions wrong, the transaction was denied, and my account access locked. Which I then had to go through a whole separate department to re-verify identity and start over.

Now mind you, we have been banking with Chase for 20 years in various forms and have a lot of accounts with them, so we actually have a pretty decent banking relationship. And we still had to jump through all these hoops to move our own money.

It blows my mind that "we should spend millions or billions every month to pay people to manually, slowly, and inaccurately do what the blockchain can do instantly, automated, and virtually free" is still a majority viewpoint. It's so dumb that everyone is just happy to have a system where we have to get permission to use our own money, like we're a bunch of 8 year olds asking our parents if it's okay.

It sucks that people are ruining it with dumb crap like meme coins. But ignoring the blockchain because of that would be like if we just quit the internet because it was mostly chain emails and nigerian prince scams for a while.

 

[MTskibum]

Modern fiat and banks are so unimaginably stupid alongside the invention of the blockchain that does all of it better and cheaper.

Modern fiat and banks have wasted hours of my life the last 2 days, and strained relationships with my clients by making their lives worse too.

First we had a client that we needed to pay $6285 to, but for personal reasons he needed it quickly. Faster than the 2-7 days of an ACH transfer, so he asked us to send via Zelle. Zelle, firstly, capped the amount we could send at $5000 because even though it's my money, they get to decide what we do with it. Then when the funds were sent, Zelle, which is usually instant, decided they were going to hold the funds for review and the client will receive them after review in 2+ days. So basically worthless, and the remaining $1285 had to go via slow ACH.

If solana or sui or a USD blockchain similar to those were our form of currency I could have moved that $6285 to the client in full, in 5 seconds, for pennies (most likely fractions of a penny).

Next, since our clients constantly complain about how slow our current ACH vendor is (quickbooks), and that it usually takes over a week to receive their funds after we schedule it, we decided to just schedule the ACH's direct from Chase since it's usually faster (but still several days). We pay $2.50 per transaction for this. On our first 12 attempts, all 12 were flagged as "under review". For each, I had to wait for a call, answer a slew of questions (do you know the recipient, etc), then go through 3 identity verification questions (what was your first car, etc). As if that wasn't annoying enough, on the 12th of those apparently I answered one of the verification questions wrong, the transaction was denied, and my account access locked. Which I then had to go through a whole separate department to re-verify identity and start over.

Now mind you, we have been banking with Chase for 20 years in various forms and have a lot of accounts with them, so we actually have a pretty decent banking relationship. And we still had to jump through all these hoops to move our own money.

It blows my mind that "we should spend millionsor billions every month to pay people to manually, slowly, and inaccurately do what the blockchain can do instantly, automated, and virtually free" is still a majority viewpoint. It's so dumb that everyone is just happy to have a system where we have to get permission to use our own money, like we're a bunch of 8 year olds asking our parents if it's okay.

It sucks that people are ruining it with dumb crap like meme coins. But ignoring the blockchain because of that would be like if we just quit the internet because it was mostly chain emails and nigerian prince scams for a while.

It seems like you are complaining about banking regulation and not banking technology.

The banks have the technology the money quick, easily, and at very low cost. The reason they put up these hurdles is for security reasons. It would be awesome if we didn't have to worry about banking security, however there will always be people trying to steal other peoples money using banking transactions.

I want the bank to try to minimize fraudulent transactions as much as possible, what you are complaining about banking I consider to be one of it's positives.

 

[FreeBaGeL]

Modern fiat and banks are so unimaginably stupid alongside the invention of the blockchain that does all of it better and cheaper.

Modern fiat and banks have wasted hours of my life the last 2 days, and strained relationships with my clients by making their lives worse too.

First we had a client that we needed to pay $6285 to, but for personal reasons he needed it quickly. Faster than the 2-7 days of an ACH transfer, so he asked us to send via Zelle. Zelle, firstly, capped the amount we could send at $5000 because even though it's my money, they get to decide what we do with it. Then when the funds were sent, Zelle, which is usually instant, decided they were going to hold the funds for review and the client will receive them after review in 2+ days. So basically worthless, and the remaining $1285 had to go via slow ACH.

If solana or sui or a USD blockchain similar to those were our form of currency I could have moved that $6285 to the client in full, in 5 seconds, for pennies (most likely fractions of a penny).

Next, since our clients constantly complain about how slow our current ACH vendor is (quickbooks), and that it usually takes over a week to receive their funds after we schedule it, we decided to just schedule the ACH's direct from Chase since it's usually faster (but still several days). We pay $2.50 per transaction for this. On our first 12 attempts, all 12 were flagged as "under review". For each, I had to wait for a call, answer a slew of questions (do you know the recipient, etc), then go through 3 identity verification questions (what was your first car, etc). As if that wasn't annoying enough, on the 12th of those apparently I answered one of the verification questions wrong, the transaction was denied, and my account access locked. Which I then had to go through a whole separate department to re-verify identity and start over.

Now mind you, we have been banking with Chase for 20 years in various forms and have a lot of accounts with them, so we actually have a pretty decent banking relationship. And we still had to jump through all these hoops to move our own money.

It blows my mind that "we should spend millionsor billions every month to pay people to manually, slowly, and inaccurately do what the blockchain can do instantly, automated, and virtually free" is still a majority viewpoint. It's so dumb that everyone is just happy to have a system where we have to get permission to use our own money, like we're a bunch of 8 year olds asking our parents if it's okay.

It sucks that people are ruining it with dumb crap like meme coins. But ignoring the blockchain because of that would be like if we just quit the internet because it was mostly chain emails and nigerian prince scams for a while.

It seems like you are complaining about banking regulation and not banking technology.

The banks have the technology the money quick, easily, and at very low cost. The reason they put up these hurdles is for security reasons. It would be awesome if we didn't have to worry about banking security, however there will always be people trying to steal other peoples money using banking transactions.

I want the bank to try to minimize fraudulent transactions as much as possible, what you are complaining about banking I consider to be one of it's positives.

But this is a side effect of not having an option to self custody and being forced to use banks for security instead of the security being already built in. It's neither feasible nor secure for me to keep $2M of fiat business cash under my mattress. Someone could break in and steal it all or it could be destroyed in a fire. Nevermind that I'd have no way to feasibly transact with that money. So I have to keep it in a bank, have a bank transact with it, and accept all of the limitations that come with that.

But it is completely feasible for me to keep any amount of blockchain money in my house, which I could feasibly spend directly from my house if blockchain were the system we used, and if someone breaks in they cannot access it and it remains safely self custodied so long as I'm keeping my keys somewhere else. In that sense, the only banking service I need is in having safety deposit boxes where I can keep those keys that I don't need to do everyday transactions, but only once in a blue moon if the wallet is lost or destroyed. In the meantime I can spend that money instantly however I want, and if someone steals my identity and gets access to my SSN etc it doesn't give them access to those funds like it gives them access to my bank account, so those extra security measures aren't necessary.

 

[SFBayDuck]

It blows my mind that "we should spend millionsor billions every month to pay people to manually, slowly, and inaccurately do what the blockchain can do instantly, automated, and virtually free" is still a majority viewpoint.

This is the biggest impediment to crypto/blockchain adoption, imho. Too many people have too much skin in the game making too much money in the current system. They lobby and donate to lawmakers, keeping them fat and happy and ensuring inertia. That's a lot to overcome.

 

[GreenNGold]

First we had a client that we needed to pay $6285 to, but for personal reasons he needed it quickly. Faster than the 2-7 days of an ACH transfer, so he asked us to send via Zelle. Zelle, firstly, capped the amount we could send at $5000 because even though it's my money, they get to decide what we do with it. Then when the funds were sent, Zelle, which is usually instant, decided they were going to hold the funds for review and the client will receive them after review in 2+ days. So basically worthless, and the remaining $1285 had to go via slow ACH.

You could have just sent the full amount as a wire from your bank, instead of using zelle.

I don't know the nature of your transactions, but it sounds like most of your problems could be resolved if you put a little more work into researching how to work with the system better. These aren't problems most businesses have.

 

[FreeBaGeL]

First we had a client that we needed to pay $6285 to, but for personal reasons he needed it quickly. Faster than the 2-7 days of an ACH transfer, so he asked us to send via Zelle. Zelle, firstly, capped the amount we could send at $5000 because even though it's my money, they get to decide what we do with it. Then when the funds were sent, Zelle, which is usually instant, decided they were going to hold the funds for review and the client will receive them after review in 2+ days. So basically worthless, and the remaining $1285 had to go via slow ACH.

You could have just sent the full amount as a wire from your bank, instead of using zelle.

I don't know the nature of your transactions, but it sounds like most of your problems could be resolved if you put a little more work into researching how to work with the system better. These aren't problems most businesses have.

A wire is $25-$50 per wire, only during business hours, and often charges the recipient a fee as well. We sent out 12 transactions yesterday. Around 100 a month. That's $2500-$5000/mo just on my side to do them all as wires.

Most small businesses that regularly have to move largish sums of money absolutely have these problems. Ultimately most just settle on telling people they have to wait to get the money. But then that begs the question, when we have the technology to do it instantly for pennies with no industry overhead costs, why are we happy to do it in 2-7 days for dollars with $millions or even $billions in industry overhead costs?

 

[brun]

Just found this.
Btcmap.org

Similar to gasbuddy but useful if you're looking, or trying to respond to someone's query, for places that accept btc for purchases.

 

[Desert_Power]

This interview on the Argentinian president's pump and dump is just crazy: https://www.youtube.com/watch?v=EqizJTbxAEM

 

[tommyGunZ]

For anyone here get rich off Bitcoin? Any big scores?

 

[urbanhack]

bought more solana on the dip.

so how bout that Crypto!