Bitcoin

[The Observer]

I've got some tulip futures that I'd like to sell.

Please contact me in the Netherlands about 1635 CE and we will see what we can work out.

[Burnaby49]

Don't even think about it! Tulip futures are a foolish, speculative venture. Go for something a lot more secure, say a private sector-government partnership. I'd recommend shares in the South Sea Company. Great prospects if you can get in on the ground floor before the war of the Spanish Succession ends.

[Jeffrey]

Crypto value is based on entirely what someone believes its worth.

That’s true of everything though? Not the best argument.

It’s a currency so it should be judged on how good it is at being a currency. At the time I’m writing this post the price per Bitcoin transaction is $150. That single transaction also consumes 1,200 kWh of electricity. More electricity than the average American home uses in a month.

As a currency it’s crap.

[notorial dissent]

The biggest downside of having a crypto/etheric/electronic currency is that like all your precious files on your religiously backed up and backed up and carefully archived system, they can just
ALL. GO. AWAY.

Or someone can change the password on you and they might just as well have gone away.

[JamesVincent]

Crypto value is based on entirely what someone believes its worth.

That’s true of everything though?

Not really. If you invest in a stock you're investing in that companies ability to make money. If you invest in gold or silver you're investing in something that has a tangible worth, whether it's the metal or jewelry. Crypto has no worth at all. You can't use it any place that matters. It does not gain in value because the company is doing better since there is no company or product. You can't make jewelry out of it. You can't trade it for anything. It's only value is that people believe it to be worth something.

[JamesVincent]

Bitcoin’s price slipped again Tuesday amid a brutal sell-off among digital currencies.

The reason for the move was unclear, however it may be related to concerns over security of the cryptocurrency after U.S. officials managed to recover most of the ransom paid to hackers that targeted Colonial Pipeline.

https://www.cnbc.com/2021/06/08/bitcoin ... 1623150326

[JamesVincent]

An Ohio man pleaded guilty in a money laundering conspiracy in which he moved more than $300 million worth of bitcoin to help users, including drug traffickers, hide the source of their cryptocurrency.

Larry Dean Harmon, 38, of Akron, agreed as part of his plea in Washington, D.C., federal court to surrender more than 4,400 bitcoins, currently valued at more than $200 million, the Justice Department said Wednesday.

Harmon, who maintained a residence in the nation of Belize during his criminal activity, also faces assessment of a $60 million civil monetary penalty from the Financial Crimes Enforcement Network, authorities said.

https://www.cnbc.com/2021/08/18/ohio-ma ... 1629318054

[AnOwlCalledSage]

Tulip buyer shocked that tulip buying scheme may have been risky.

Francis Kim wants Binance to own up to its mistakes and compensate users to make things right.

"Even if we are degenerate gamblers, that doesn't give the company the right to reach into our stack of chips and take them," he said.

https://www.nbcnews.com/business/person ... d_nn_tw_ma

[The Observer]

"Even if we are degenerate gamblers, that doesn't give the company the right to reach into our stack of chips and take them," he said.

Uh...that is exactly what casinos do - they welcome in degenerate gamblers and take their money.

[notorial dissent]

"Even if we are degenerate gamblers, that doesn't give the company the right to reach into our stack of chips and take them," he said.

Uh...that is exactly what casinos do - they welcome in degenerate gamblers and take their money.

A little different, most gamblers know the odds are stacked against them and they probably will ultimately lose. The Bitcoin tools don't really see or comprehend it that way.

I will have to admit to not really understanding the whole phenomenon.

[AnOwlCalledSage]

I will have to admit to not really understanding the whole phenomenon. [/color][/b]

Tulips from Amsterdam!

"Those who cannot remember the past are condemned to repeat it."

Having said that, I have genuinely bought black tulip bulbs in Amsterdam from a tulip seller.

[The Observer]

Having said that, I have genuinely bought black tulip bulbs in Amsterdam from a tulip seller.

Did you then put them on Ebay for a considerable markup?

[AnOwlCalledSage]

Did you then put them on Ebay for a considerable markup?

No, I put them in the cupboard under the sink. Left them there too long. They didn't sprout!

[CrankyBoomer]

Besides the dodgy YouTube adverts for courses I've been seeing lately there have been ones about buying crypto-currency and for investment schemes. If I wanted to invest I'd talk to someone at my bank.

On a lighter note, Sage talking about the black tulips made me think of the old Max Bygraves song Tulips from Amsterdam

"When it's spring again
I'll bring again
Tulips from Amsterdam"....

[AnOwlCalledSage]

Who says that these Bitcoin peeps have no sense of humour?

Tulip Trading Ltd v Bitcoin Association for BSV

Tulips! They are clearly in on the scam

https://www.bailii.org/ew/cases/EWHC/Ch/2022/2.html

This is just the High Court requesting that Tulip Trading puts up securities for the court costs, the trial hasn't happened yet, and centres around Craig Wright claiming that he's lost his access keys and wants the developers to amend the code to allow him access. Absolutely no way that could end in disaster.

I will not make any suggestion here that Craig Wright isn't Satoshi Nakamoto because he has a habit of suing people who ridicule his claim, although it does appear that separate to this case there is another one still in the works with Wright as the defendant being accused of forging documents that purport to prove that he is Satoshi Nakamoto.

https://www.bailii.org/ew/cases/EWHC/Ch/2021/3440.html

[Jeffrey]

https://www.justice.gov/usao-sdny/pr/tw ... g-scheme-0

Ran across this gem last night. As far as I can tell it's the first NFT prosecution. If I'm reading it right, the same charges could apply to all other crypto rug pulls.

[serfmaninthepolis]

https://www.justice.gov/usao-sdny/pr/tw ... g-scheme-0

Ran across this gem last night. As far as I can tell it's the first NFT prosecution. If I'm reading it right, the same charges could apply to all other crypto rug pulls.

https://www.justice.gov/usao-sdny/press ... 6/download is the filing. It seems weird---if I sold people a video game that promised new levels for a recurring subscription fee, and I closed down after a month, I doubt these weird DHS thugs would be involved. I mean, even if it was my intention, they got a game for a month.

A "rugpull" as far as I understand it is more like you sell a token, typically fungible, where people invest, you hold a bunch of it as the author of the token, then as it increases in value, you sell your holdings and cash out.

This is more like selling a bunch of paintings, telling people the artist will enable the paintings to be used for all sorts of things. Treating the purchase price for the painting as an "investment" is a bit silly. Generally I do not favor allowing retarded ppl w/ more money than brains to have the US Government attack artists.