Cryptocurrency (and related fuckery)

Sources for that podcast episode:

This “therapist” was most insane thing I learned from this podcast.

https://www.coindesk.com/layer2/2022/11/30/ftxs-collapse-was-a-crime-not-an-accident/

https://www.coindesk.com/consensus-magazine/2023/06/27/the-second-ftx-asset-recovery-report-is-packed-with-bombshells/

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Well, SBF’s dreams of getting away with it turned out to be too big…

Sam Bankman-Fried, a young prodigy whose only flaw was that he Got caught.

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:man_facepalming:

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Who’s money do they have?

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:thinking:

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Jack Dorsey has said he expects the bitcoin price to rocket to $1 million by 2030

Laugh Lol GIF

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Ah, so Jack Dorsey is a moron.

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Oh no!

eta:

Murphy was sentenced to five months in jail for refusing to surrender his iPhone while an Anton Piller order, a kind of civil search warrant, was executed against him early last year, and for deleting data on the phone afterward.

Using an Anton Piller order on a phone, interesting! From what (little) I understand, that was originally to put a hold on disputed commercial cargo that was about to sail out of the jurisdiction. Phones, huh?

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Want unregulated currency? Then walk the talk. Don’t go crying to the DOJ when your shit goes south. Just another case of “privatize the gains, socialize the losses.”

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Agreed.

In a more rational world a scheme like this that demonstrates a fundamental vulnerability in the technology backing cryptocurrency would result in a major loss of confidence and a corresponding drop in the market value. (Preferably all the way to zero.) But the fact that the DOJ is bringing a case is probably helping to boost the price because people know that the government is going to prosecute theft of their imaginary assets.

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Oklahoma’s governor has signed a bill into law defining legal rights for one of the most marginalized groups in the US – cryptocurrency holders.

Beginning November 1, 2024, every Oklahoman will have the inalienable right to self-custody of their digital assets and the right to mine cryptocurrency at home, with the only restriction being that home rigs do not violate local noise ordinances.

Oklahomans are also being granted the right to purchase legal goods and services with Bitcoin and other cryptocurrencies, and the government can’t “prohibit, restrict or otherwise impair the ability of an individual” to do so.

For local citizens passionate about digital liberty, the state is prohibited from levying additional taxes or fees on the use of cryptocurrency. Sales tax, yes; energy fees, no.

The law also requires state and local governments to treat commercial-scale crypto mining operations the same as datacenters, and not to establish any “discriminatory rates for digital asset mining businesses.”

Finally, the law absolves both private individuals and service providers who mine or stake cryptocurrency from liability for processing specific transactions.

[…]

Looks like our last hope is, once again, bears.

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