Tag: bitcoin

SEC Chair Gary Gensler Backs Giving CFTC Bitcoin Oversight

SEC Chair Gary Gensler Backs Giving CFTC Bitcoin Oversight

He supports handing the Commodity Futures Trading Commission (CFTC) the power to “oversee and regulate crypto nonsecurity tokens and related intermediaries.”

According to Gensler, he would throw his weight behind the U.S. Congress to hand over more regulatory power over non-security assets to the CFTC. 

The Senate Agriculture Committee is already making significant moves to grant the CFTC regulatory oversight over the two-largest cryptocurrencies, Bitcoin and Ethereum.

While Gensler has previously said Bitcoin is a commodity, he’s kept quiet about the status of Ethereum.

New US crypto bill seeks to make CFTC top Bitcoin, Ethereum watchdog –
to put the Commodity Futures Trading Commission (CFTC) at the helm of regulating all cryptocurrencies classified as commodities.

Bitcoin is worth the energy it uses

Bitcoin is worth the energy it uses.

In 1995, Bill Gates tried to explain to Dave Letterman what the internet was and the audience laughed.

#Internet users in 1997: 140 million
#Internet users in 2007: 3.7 billion
#Bitcoin users in 2022 : 140 million

#Bitcoin now computes 225,000,000,000,000,000,000 cryptographic hash functions EVERY second

#Bitcoin has been online for 4,983 days

#Bitcoin has been online for 4,983 days

Buckminster Fuller predicted #bitcoin in 1967

The first time #bitcoin was ever mentioned in a television show, aired on ‘The Good Wife’ in 2012. The price of a #bitcoin was only $3.41

#Bitcoin is faster than Visa

#Bitcoin mining is being used to reduce harmful methane emissions

#Bitcoin has transferred $100,000,000,000,000 worth of value

#Bitcoin has now transferred the equivalent of $100,000,000,000,000 without using a single bank.

“#Bitcoin has proven its value to society all over the world. It is a way to provide financial inclusivity to everyone”, explains @alexadelman

US Senate candidate @brucefenton, “We do not need politicians to tell us what ‘money’ is. For thousands of years, people have figured it out, whether it is gold, or silver, or #bitcoin”

Founded in 1895, Sullivan Bank has adopted #bitcoin

Last 10 years: Asset Return
Bitcoin +206,440%
Tesla +14,709%
NVIDIA +5,427%
Netflix +2,782%
AMD +2,229%
Amazon +1,115%
Microsoft +1,065%
Apple +800%
Google +649%
S&P 500 264%
Gold +7%

Monthly streaming TV costs:
Netflix: 72,154 sats
HBO Max: 69,825 sats
Disney+: 51,193 sats
Showtime: 51,193 sats
Peacock: 46,534 sats
Prime Video: 41, 876 sats
Starz: 41, 876 sats
ESPN+: 46, 534 sats
AppleTV+: 23, 244 sats

ETH2.0 will be 51% attacked the day PoS launches.
A small group of founders already own more than 51% of stake, and there is nothing honest stakers can do to impeach the founders when (not if) the founders to abuse the control authority over the ledger.

All commodities require energy.

@saylor
I am a #Bitcoin Maximalist
All commodities require energy. Since #bitcoin is a commodity it can serve as global digital money. Bitcoin’s economic function is to provide property rights to 8 billion people as well as a global settlement network that has already cleared $17 trillion dollars so far this year.

#Bitcoin is apolitical, unseizable money – Adam Back

Number of entities with less than 1 #bitcoin have been growing! a healthy upwards trend of smaller hodlers getting their share of the pie. The goal is to get #bitcoin into the wallets of as many people as possible, as quickly as possible.

Fiat is the ponzi.

People without cybersecurity degrees created the content that is taught in cybersecurity degree classes now!
@Snubs Reminder that any company who believes you need a degree probably is out of touch with the reality. I graduated in 2008 from college. My university didn’t even have a cyber security course.

Alex Gladstein @gladstein
Oct 31, 1517: Martin Luther nails 95 theses to a church door in Germany, sparking the Protestant Reformation
Oct 31, 2008: Satoshi Nakamoto posts the Bitcoin white paper to the Cryptography Mailing List, sparking the separation of money and state
Hadn’t realized that before .

CHINA: Supreme Court to conduct research into cryptocurrency to protect investors’ rights.
Changpeng Zhao, CEO of Binance, is suing Bloomberg’s Chinese-language publisher “Modern Media” for defamation alleging “false and unfounded criminal charges against him”. The publisher ran a cover with the headline
“Changpeng Zhao’s Ponzi Scheme”.

NetHappenings: Bitcoin Engineers Michael Saylor and Gregg Foss

Educational CyberPlayGround NetHappenings ∞/21M
https://edu-cyberpg.com
https://k12playground.com
https://RichAsHell.com
daily read https://twitter.com/cyberplayground
Hey, Hey, NRA, how many kids did you kill today?

BEWARE CRYPTO SCAMMERS

@FatManTerra sends the warning:
A verified source has confirmed that Zhu Su, the CEO of 3AC, owned a megayacht worth $50m that he would show off to friends and prospective investors to signal his luxurious wealth. This yacht was purchased with borrowed money, and 3AC has been unable to cover it beyond the down.
Addendum: despite Zhu showing off ownership of the yacht and pictures of it (according to the source who gave me this info), he didn’t even have the yacht in-person yet! It is actually scheduled to be delivered next month. (Credit to @lawmaster>

Smart Contracts

Ethereum (and any other shitcoin) wouldn’t exist if it weren’t for Bitcoin. Period. And Bitcoin shouldn’t even be in the same conversation as Ethereum. Bitcoin is all there is and all that matters.


For those who haven’t put the time into learning and need to hear/read this  – “Smart contracts” – are doable on Bitcoin anyway; they’re just usually pointless “oracle” based algorithms and we recognize them as nearly universally scams. #SmartContracts

#Satoshi built #SmartContract opcodes into the bitcoin client, most of which were removed because they compromised security. Bitcoin devs have long understood that smart contracts’ proper place is higher layers, which is now bearing fruit with Lightning & federal designs. Also smart contracts have been around long before ethereum.
see szabo, nick

Bitcoin has very powerful #L1 smart contracts.

#Lightning has services with multiple million users enabling it for faster cheaper payments: – CashApp – Bitfinex – Kraken – Paxful – Chivo – Robinhood.  Add all these up and it’s well over 50M users

Engineers Michael Saylor and Gregg Foss

∞/21M

Michael J. Saylor is an American entrepreneur and business executive, who co-founded and leads MicroStrategy, a company that provides business intelligence, mobile software, and cloud-based services.

“Bitcoin will do 100x” – Michael Saylor Bitcoin Interview
First Principals Bitcoin is digital Energy, incorruptible, indestructible, programmable, it lasts forever. Bitcoin is 100 times bigger than the next digital energy network, it’s the dominant one. Watch the video!
American entrepreneur and business executive, who co-founded and leads MicroStrategy, a company that provides business intelligence, mobile software, and cloud-based services.
#MichaelSaylor #Bitcoin #Crypto

Greg Foss Power Development / Bitcoin Strategist
Oakville, Ontario, Canada
2 years in high-yield credit trading and analysis as PM and trader.
Bitcoin enthusiast/realist. G-7 balance sheets (total debt to GDP) will cause all fiat currencies to depreciate. It is only math. Embrace bitcoin as a hedge against the debt spiral and the beggar thy neighbor strategy employed by all governments and central banks.
The fractional banking system facilitates this imbalance. Quantitative easing exacerbates the imbalance. All portfolios need to hedge these risks.
1-3% exposure to bitcoin is prudent risk management.
BTC = digital gold and digital electricity.

“Nobody Did The Maths” – Greg Foss Bitcoin Interview
In todays’ video, Greg Foss tells us all about the Fiat Ponzi, what it is and details why it will collapse and Bitcoin will thrive and succeed, over Fiat.
Foss, who is now retired, began his career as a bond trader on Wall Street, which he feels has given him a clear sense of the mathematical ramifications of what’s really going on, leading him to believe that Bitcoin is the only ‘anti-fiat’ choice.
#GregFoss #Bitcoin #Crypto

“These Are My Targets” – Greg Foss Bitcoin
(my Ah Ha moment was in 2016)
In todays’ video, Greg Foss discussed why he is a Bitcoin supporter, and you should accept it as a hedge against the debt spiral, and why all fiat currencies will devalue as a result of the G-7 balance sheets (total debt to GDP).
Foss, who is now retired, began his career as a bond trader on Wall Street, which he feels has given him a clear sense of the mathematical ramifications of what’s really going on, leading him to believe that Bitcoin is the only ‘anti-fiat’ choice.

“My Plan To This Chaos”
Michael Saylor talks about the opportunities Bitcoin provides to the American people and how it has the ability to disrupt today’s financial and commercial use. He also compares Bitcoin and Crypto to traditional stock market and gold.

#GOLD

Bitcoin 21 million is the hardest money known in history and has the ability to disrupt today’s financial and commercial use. Gold isn’t scarce they just found a trillion dollars of it last week.

The Congolese Mountain of Gold: Surprise Discovery in Africa Shows Metal’s Scarcity Is Hard to Prove
Estimates say only 2,500 to 3,000 tons of new gold is produced annually. a whole mountain of gold was discovered in the Congo, as the Democratic Republic of the Congo is well known for being a region that sees tons of smuggled gold filtered into the global financial system unreported. A crypto-asset like BTC is considered a lot scarcer than gold, and the protocol ensures there won’t be any surprise discoveries or underreported issuance. SURPRISE The 226-kilometer wide asteroid is made of gold and other metals with an estimated value of around 10,000 quadrillion-dollars.