bit¢oin$

good news for pc gamers tho

nah bitcoin miners have all used custom ASICs for years now that have, like, no other purpose than hashing. GPUs were still viable for eth

until the proof-of-stake switch made it irrelevant I guess

saw some thing that gpu prices are dow 50% over the last six months

what a fucking farrago

why wont this guy stop talking, hes genuinely strange

Let's see how this goes: https://t.co/BLtMDNIONI

— @BennettTom✧✧✧@ms✧✧✧.soc✧✧✧ (@BennettTomlin) November 30, 2022

he thinks he can just keep conning, the jig is up buddy

Let's see how this goes: https://t.co/BLtMDNIONI

— @BennettTom✧✧✧@ms✧✧✧.soc✧✧✧ (@BennettTomlin) November 30, 2022

Reporters don’t have friends

Oh damn I meant to put the one in the thread where he’s like “my longtime friend who I forgot was a reporter” about the Vox reporter who definitely wasn’t his friend

yeah they def werent friends she had talked to him before for a story awhile doing her job as a reporter, its a bizarre claim

He probably doesn’t really know what a “friend” is

yeah something like that

lol

Call me crazy, but I think @sbf is telling the truth.

— Bill Ackman (@BillAckman) November 30, 2022

https://vancouversun.com/news/world/cryptocurrency-billionaire-vyacheslav-taran-dies-in-mysterious-chopper-crash/wcm/94c27f47-ac91-493e-8098-c8e2f1ef3ffb

Cryptocurrency billionaire Vyacheslav Taran dies in mysterious chopper crash

The latest to die, according to the Daily Mail, is Russian billionaire Vyacheslav Taran, 53, who was killed in a Nov. 25 helicopter crash near the French resort town of Villefranche-sur-Mer after taking off from Lausanne, Switzerland.

what’s the Russian expression for “where’s my money”?

I think it’s the sound of cocking a Glock

if sbf never stops confessing they can never start charging him tapsheadwisely.gif

More from here:
https://cointelegraph.com/news/libertex-crypto-exchange-head-vyacheslav-taran-dies-in-helicopter-crash-in-france

Taran is the third crypto executive to die unexpectedly in recent weeks. Amber Group cofounder Tiantian Kullander (TT) died on Nov. 23 in his sleep at the age of 30, and MakerDAO cofounder Nikolai Mushegian drowned in Puerto Rico on Oct. 28 at the age of 29. Taran is also the latest in a long string of Russian businessmen to die under various circumstances.

Taran’s death has led to some speculation in the press. The helicopter accident that claimed Taran’s life is under investigation; It took place in good weather conditions with an experienced pilot. According to France Bleu, a second passenger was booked for the flight but canceled at the last minute.

suppose that's a change from the crypto bro who faked his own death on his way to stealing all his users funds https://nypost.com/2021/12/20/mystery-of-crypto-ceo-who-died-taking-250-million-with-him/

there's a decent CBC podcast about that dude titled "A Death in Cryptoland"

I was left with the impression there might not have been a lot of money to run off with

one of the most bizarre details was that the guy handling cash-outs from Quadriga holders was someone living in a trailer in Quebec who was just moving bags of money around, iirc

moving them around the trailer?

The trailers in Quebec are pretty large

my bad, it was New Brunswick
https://www.cbc.ca/radio/podcastnews/transcript-a-death-in-cryptoland-e5-where-s-the-money-gerry-1.6196653

And I'd never heard of Aaron Matthews. And so I looked up the address that was on the registration and I found that it was this prefab home park in New Brunswick. And this is the address where this user has been asked to send his money. And I just thought that's really strange, because at the time I thought of Quadriga as very much a Vancouver entity. And here we have money being wired to this guy in New Brunswick.

I may be confusing this with another crypto operation but I think that to assuage one investor who was threatening them if they didn't get money out, a bag of cash was delivered in person at some point

that guy seems like did actually just die on vacation in india i watched a show on it and they interviewed the doctor who treated him seemed legit, and it also seemed like that he actually lost most of the money via bad investing rather than stealing, tho he did obvs steal some of it

speaking of crypto fraud tho

Wow, tell us Tether is running a Ponzi scheme without telling us that Tether is running a Ponzi scheme. Just listen to his answers. IMHO, as a former SEC enforcement official of 18 yrs, the evasion/deflection/lack of responsiveness makes me believe Tether is a house of cards. https://t.co/smBHui1Djv

— John Reed Stark (@JohnReedStark) December 2, 2022

tho the bad investing was a form of stealing he wasnt supposed to be investing depositors funds xp self, but rather than being alive hoarding the money somewhere more likely hes dead and the money is gone

wild how common the investing depositors funds without asking pattern is in crypto no one wants to just opperate a normal exchange

good show tho i think its on netflix everyone said he presented as this upbeat honest enthusiastic almost innocent crypto true believer then after he died they found another internet fraud in his past lol

Levine good yesterday on the waft of ponzi coming off tether

yeah otm

tether has stunk ever since they posted this lol

https://cloudfront-us-east-1.images.arcpublishing.com/coindesk/TB33XCJ57VECRBTITBRQW5TJGU.png

Pie charts that have the vibe of an obvious lie

who would even slice a pie up that way

is tether the one where they claim to have a bunch of currency but wouldn’t say what country’s?

Are there any standards at all for what can be considered "commercial paper?" I'm guessing not in their case if they're not audited anyway. And of course it could all just be made up for that matter.

journalists have talked to all the big commercial paper brokers and have never been able to find someone whos done business with tether, which is interesting considering how much of it they claim to own

FTX commercial paper

papercoin

for while they were claiming to own a bunch of chinese debt which was a random twist

levine musing about what could be happening now that tether is saying theyre loaning out tethers

You have 1,000 Bitcoin worth about $17 million.
You want to buy more Bitcoin, but you do not have any dollars.
You go to Tether and say “hey give me 17 million USDT, in exchange I’ll put up 2,000 Bitcoins as collateral.”
Tether is like “sure that’s the business we’re in” and hands you 17 million USDT.
You use that 17 million USDT — notionally worth $17 million — to buy 1,000 more Bitcoin.
Now you have 2,000 Bitcoin.
You post the 2,000 Bitcoin as collateral to Tether for the loan, which is now overcollateralized with liquid collateral ($34 million worth of Bitcoin).
More USDT have been created to buy Bitcoin, but no new dollars have come into the system.

https://www.bloomberg.com/opinion/articles/2022-12-01/sbf-missed-ftx-s-risks

Are there any standards at all for what can be considered "commercial paper?" I'm guessing not in their case if they're not audited anyway. And of course it could all just be made up for that matter.

― longtime caller, first time listener (man alive), Friday, December 2, 2022 11:54 AM (thirty minutes ago)

needs to be rated by one of the rating agencies, typically will have to be at investment grade or higher

https://www.investopedia.com/articles/investing/070313/introduction-commercial-paper.asp

Defaults are more common than in past years. Prior to the financial crisis of 2007-08, commercial paper issuers in the U.S. defaulted on approximately 3% of their issues. That number rose sharply in 2007-08. In fact, the outstanding amount of commercial paper dropped by around 29% by September 2008 for fear of continued default.

One famous example of commercial paper default took place in 1970 when the transportation giant Penn Central declared bankruptcy. The company defaulted on all of its commercial paper obligations. The immediate consequence was that its creditors lost their money. There was so much Penn Central commercial paper floating around that the entire commercial paper market took a hit. Issuers who had no relation to Penn Central saw investors lose confidence in the instrument altogether. The commercial paper market declined by nearly 10% within a month. After this debacle, the practice of buying backup loan commitments as a form of insurance for commercial paper became commonplace in the market.

a "cash equivalent" is not supposed to have a risk of default!

it pains me to admit it, but doing some googling suggests that certain kinds of commercial paper are in fact treated like cashlike equivalent :|

they certainly are, just look at the "cash and cash equivalents" line item on any corporate balance sheet

they certainly are, just look at the "cash and cash equivalents" line item on any corporate balance sheet

can't be fraud if you don't even buy into the ponzi scheme you promised to buy into

Did the Bitcoin in FTX even exist?

Last night Sam Bankman-Fried admits that when people sent money to buy bitcoin, FTX didn’t actually buy bitcoin for you.

pic.twitter.com/GWssuY2kJB

— Genevieve Roch-Decter, CFA (@GRDecter) December 2, 2022

lol, lmao

tired: bitcoin is fake
wired: bitcoin doesnt exist

lol I hadn't heard SBF speak before

perfect voice for the role

The voice of an underprepared dungeon master.