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Diva Cupcake
Aug 15, 2005

TIL the guy who used to own all the EverQuest gold auction sites now looks like this.

https://twitter.com/maltaprofile/status/1069910385296371717

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Diva Cupcake
Aug 15, 2005

https://twitter.com/notsofast/status/1086471886597431296

Diva Cupcake
Aug 15, 2005

https://twitter.com/nathanielpopper/status/1091443453798494208

Diva Cupcake
Aug 15, 2005

kolby posted:

I make bets for like a year, win some/lose some and end up at exactly 1 bitcoin. Problem is, 1 bitcoin is now only worth $1000. If I want to cash out, am I only getting a grand?
You know the answer to this.

Diva Cupcake
Aug 15, 2005

I like that the first instincts of both Forester and the friend shot and dying in a separate room were to ask for help via Facebook video posts.

Diva Cupcake
Aug 15, 2005

hey man you don't amass $420k in butts by paying $25 in Forex fees.

Diva Cupcake
Aug 15, 2005

Diva Cupcake
Aug 15, 2005

lmao

https://twitter.com/CryptoCobain/status/1392620372160401408

Diva Cupcake
Aug 15, 2005

I mean he’s just blatantly pump and dumping at this point.

https://twitter.com/IOHK_Charles/status/1392975995356000256

Diva Cupcake
Aug 15, 2005

CaptainSarcastic posted:

Aside from a shitload of buzzwords what the gently caress is this even supposed to mean? Who the gently caress even cares? I've noticed that after the initial frenzy about NFTs there aren't mainstream news articles about them the last week or two, so I assume they've already moved into that space of quiet embarrassment and pretending they never happened. Is this just the marketing people being a month or so behind the curve?

This just happened a few days go. Average price of almost $1.9m per.
https://twitter.com/CNBC/status/1392478668539056128

Diva Cupcake
Aug 15, 2005

lol so this is way past buy the dip territory but at the very least the dog meme coins are getting wasted. Down 55% in the last day. 30% in the last hour.

Diva Cupcake
Aug 15, 2005

LanceHunter posted:

(Even even people who want to get a day-trader with to play the swings have to consider that every coin trade is a taxable event, at a much higher rate than if they were doing the same thing with stocks.)
While every sale of crypto to USD and every trade of crypto into another crypto asset are all taxable events, I don't believe they're taxed as a different rate than other securities. It's all short-term and long-term capital gains taxes depending on how long you hold.

Diva Cupcake
Aug 15, 2005

And we're back within normal 5-10% swongs in either direction. What an absurd 24 hours.

Diva Cupcake
Aug 15, 2005


So just like any other normalized financial transaction. I know “This is actually good for Bitcoin” is a meme but is this actually good for Bitcoin?

Diva Cupcake
Aug 15, 2005

Feels like the downward pressure is still there.

Diva Cupcake
Aug 15, 2005

“industry”

Diva Cupcake
Aug 15, 2005

Galewolf posted:

Lmao, cryptographer.
You mean like a PKI admin?

Diva Cupcake
Aug 15, 2005

Religious zealots you say?



https://twitter.com/dergigi/status/1398731154195324931

Diva Cupcake
Aug 15, 2005

It’s be really funny if they just kept their millions in their exchange account and not a wallet that they actually control.

Alternatively they just got rubber hosed to give up the keys.

Diva Cupcake
Aug 15, 2005

Orvin posted:

The ringleader then spent an hour or two talking about all the crazy moves you can make with various coins to set up loans to avoid taxes when you need to cash out some of your coins. Made for a really long night shift.
This is what rich people do to avoid income taxes. Have an appreciating asset. Never incur capital gains taxes by selling it. Borrow against it at stupidly low interest rates and refinance until you’re dead.

Maybe he thinks he’s going to be rich.

Diva Cupcake
Aug 15, 2005

Nessus posted:

How would you put up your butts for the bank to loan you money on them? I guess you could give them the private key and such - I don't think they'd take anything less, because you could just say "No" otherwise.

And to be fair a huge bank would probably not just take your butts because of the risk of loving up their overall hustle. But now your private key is on their server or whatever.

Which means it can be stolen. And given that there is no way to undo this, barring the intervention of the entire mining pool...
I should say that this is what rich people do with appreciating assets that financial services people actually care about like stonks and real estate.

But if you’re using butts I guess you can validate custody or move them to cold storage and just be hyper aggressive about marking-to-market the value of the wallet as the collateral. I don’t think real banks do this but some FI startups do.

https://celsius.network/

Diva Cupcake
Aug 15, 2005

Is Bitcoin-as-culture-war good or bad for Bitcoin?
https://twitter.com/SenWarren/status/1402725005113364486

https://twitter.com/seanhannity/status/1402754776429957132

Diva Cupcake
Aug 15, 2005

:stare:

https://twitter.com/ToxicBitcoiner/status/1402679594403221507

Diva Cupcake
Aug 15, 2005

https://twitter.com/gcluley/status/1404772707628208129

Diva Cupcake
Aug 15, 2005

Another bloodbath -15% day for the crypto twitters.

Diva Cupcake
Aug 15, 2005

Galewolf posted:

I don't know how the real situation with Musk but his ~*Master of Coin*~ saying "Yeah, let's just hold because this poo poo is going to the moon bro" when it was at 60k and that poo poo dropping to 30k is never not going to be funny.
Doge was at .72 when the Elon called himself the Dogefather on Saturday Night Live. It's now .17 cents.

Diva Cupcake
Aug 15, 2005

Andy Dufresne posted:

We are now under 30k. Congrats on all your hard work thread
First time since Jan 1. What a ride.

Diva Cupcake
Aug 15, 2005

Space Fish posted:

I have a friend whose hodl forever strategy baffles me. They got into BTC early and could've cashed out a fraction of their position at 50-60K for a cool million and rode out the rest, but they insist on sitting on it all until they're guaranteed tens of millions of dollars. They joke about the recent dip as a discount for everyone else, but I really hope they secure something along the way and not just watch a fortune evaporate.

There was a statistic I read recently that during the 2017 run up to $18k and it's subsequent crash down to $3.5k, over 80% of BTC holders held through the entire thing. It's zealotry not strategy.

Diva Cupcake
Aug 15, 2005

divabot posted:

if you can find that, that would be awesome. I can then state that I made more money from bitcoin than 80% of bitcoiners without ever touching one.

It was sourced from a Stanley Druckenmiller interview and attributed to Paul Tudor Jones.

https://twitter.com/johnstcapital/status/1399012570976169985?s=21

Diva Cupcake
Aug 15, 2005

lol

https://twitter.com/ryanjreilly/status/1407386435343175682

Diva Cupcake
Aug 15, 2005

Matt Gaetz used Venmo for his underage sex paying. Now he's in trouble.

Really makes you think.

Diva Cupcake
Aug 15, 2005

lol

https://twitter.com/MarketWatch/status/1409967575954558978

Diva Cupcake
Aug 15, 2005

InternetJunky posted:

What is the bitcoin equivalent of a "ganja gremlin"

moon monster

Diva Cupcake
Aug 15, 2005

lol
https://twitter.com/crypto/status/1419648202198892548

Diva Cupcake
Aug 15, 2005

BTC is up like 35% over the past week and from what I can tell it's based off nothing at all. Literally nothing.

Diva Cupcake
Aug 15, 2005

This bad boy will break even for you around the 8 year mark if you can steal enough electricity.

https://twitter.com/KellyCNBC/status/1420456601975132163

Diva Cupcake
Aug 15, 2005

It's a kid who paid $250 for a IG photoshoot in a grounded plane.

Diva Cupcake
Aug 15, 2005

It's not even limited to just the crypto space. There's speculative bubbles across all sorts of supply limited items with video games and sports cards now selling for $1mm+.

Wealthy people have a shitload of money.

Diva Cupcake
Aug 15, 2005

nnnotime posted:

BTC down almost 9% this morning. F to all the new holdrs who bought in at $52K
Pretty much every crypto asset was up like 80% over the past month.

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Diva Cupcake
Aug 15, 2005

At least that kid recognizes and is leaning into the grift.

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