Fun

2019: The Year Bitcoin Lost Its Mind

News Feed - 2019-07-22 04:07:39

Many market analysts think thiswill be the year that Bitcoin finally breaks loose and makes its inevitable run to $100,000.Everything’s Going Haywire in Bitcoin


I think it’s the year that everything went haywire.


Look, this year we found out that a good percentage of Tethers are backed by thin air. What this means is that a lot of Bitcoin volume should be cut by a roughly equivalent percentage.


People shouldn’t have continued using Tether, but they did. And they’ll continue to because no one has any sense left in this era of crypto.


This year, we suffered two massive hacks, and people actually discussed “reorganizing” the Bitcoin blockchain. As we said, everyone’s crazy right now.


Now we’ve got sex scandals. Yep, our very own Dr. Phil moment, you might say, in which Bitcoin developer Peter Todd has been accused of misconduct.RelatedPostsCrypto Market Leaders Differ on Pace of Inst Adoption. Who’s Right?Elizabeth Warren Accidentally Just Made the Case for BitcoinPrecious Metals Rally but Are Gold Bugs Secretly Holding Bitcoin?


Will it amount to anything? Who knows? Just as often as not, in these things, nothing wrong happened. It’s better to reserve judgment until the facts are fully trotted out.


Some reporting has it that Todd engaged in dirty talk, but it might be wise not to assume that in context, that kind of talk was seemingly welcome.Government Encroachment And All It Entails


Meanwhile, the Bitcoin maximalists are out in full force, apparently fostering a world of single-mindedness so persuasive that members of Congress are embracing it.


If that doesn’t give anyone pause, what will?


If the people who compose the government agree with a controversial position, it may be because it’s to their benefit.


Meanwhile, on Twitter, it’s all dandelions and roses. One woman single-handedly saved crypto in Congress. Wait. What? Well, leave it to the experts, people who otherwise might be taken seriously:I hope people look back on today and call this next cycle the @Melt_Dem bull run.


So excited by how well bitcoin and *real* cryptocurrencies came across in this week’s sessions.


Meltem especially crushed it. (To the surprise of no one.)


🙏🙏🙏 pic.twitter.com/408wk3fvos


— Ryan Selkis (@twobitidiot) July 18, 2019


I’m convinced @Melt_Dem is Satoshi Nakamoto. https://t.co/378Jyzsc7w


— Russell Okung 🇳🇬 (@RussellOkung) July 18, 2019




Yeah, look at all this nonsense.I'll say it because everyone else is too much of a pussy I guess.


A man with @Melt_Dem's track record (nothing notable) wouldn't get half the attention she is getting.


— Alex B. (@bergealex4) July 18, 2019




As if the industry couldn’t have offered any better. Would Brian Armstrong, for example, have received this type of reception from the wider crypto world?


Whatever. There’s more absurdity yet.


In this other corner, we’ve got self-proclaimed bitcoin creator Craig Wright, desperately trying to prove he’s Satoshi Nakamoto without actually proving it. The matter’s not as complex as he makes it seem.


Furthermore, he’s now forever associated himself with the very addresses that people would like to see proof derive from – the Satoshi addresses.


This being the case, he could, assuming he’s telling the truth, easily prove his identity.


All the same, the man has consistently said that wouldn’t prove anything. But it would be more than enough for many, and it would furthermore establish at least a link to Satoshi even to the most doubtful.


Let’s not forget: Facebook’s getting into crypto.


There’s proof and then there’s cryptographic proof.


In this community, we prefer the latter.


Speaking of which, this is also the year of the absurd events at QuadrigaCX. Is the guy even dead? With everything we’ve learned in recent years, the idea that he faked his death seems just as likely.


We later learned that he unsuccessfully traded customer funds on other exchanges, eventually incurring losses the Canadian exchange could never have recovered from.


Go figure that he dies on a trip to a foreign country, where it might be difficult to determine if he’s actually dead.


Well, as I said, this is the year Bitcoin lost its mind. Whatever price the end of the year brings, let’s hope the next year brings a saner tide of events. Tags: Bitcoin

News Feed

TikTok could soon be flooded with AI avatars in ads
Jesse Coghlan6 hours agoTikTok could soon be flooded with AI avatars in adsTikTok’s new tools include AI-powered digital avatars that brands can dub over and use to sell their products in multiple languages.2751 Total
Mastercard Taps Polygon to Empower Emerging Artists in Web3 Tech
Mastercard Taps Polygon to Empower Emerging Artists in Web3 Tech Mastercard, the payments giant, has partnered with Polygon, an Ethereum scaling platform, to introduce emerging art
Tom Mitchelhill3 hours agoWorldcoin to cease paying Orb operators in USDC as early as NovemberAside from ditching USDC for its native token, Worldcoin announced some changes to the terms of its WLD loans to market makers
GensoKishi’s MV Token to Be Listed on Kraken
GensoKishi"s MV Token to Be Listed on Kraken press release PRESS RELEASE.On June 9, 2022 at 14:30 UTC, the FIAT currency pairs of MV(ERC20)/USD and MV(ERC20)/EUR will be listed on K
Bitcoin 6-Month Flight Plan To $188,000, Here’s The Roadmap
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Bitcoin price hits $64K as traders anticipate new all-time high before halving
Horus Hughes6 hours agoBitcoin price hits $64K as traders anticipate new all-time high before halvingBitcoin price continues its parabolic rally with a swift move to $64,000. Is a new all-time high the next stop?6627 Tot
Trump cautions current administration not to sell Bitcoin
Vince Quill1 hour agoTrump cautions current administration not to sell BitcoinThe former president continues to stress that if the United States does not innovate in the digital asset sector, other countries will.1640 To
Turner Wright7 hours agoUS Treasury sanctions Ethereum wallet tied to cartel over ‘illicit fentanyl trafficking’An ETH wallet tied to Mexican national Mario Alberto Jimenez Castro was allegedly used for illicit fenta
USD Index Starts Inching Toward Highs Again, Société Générale Economists Say Rebound Towards 114.8 Peak ‘Is Not Ruled Out’
USD Index Starts Inching Toward Highs Again, Société Générale Economists Say Rebound Towards 114.8 Peak ‘Is Not Ruled Out’ In 2022, the U.S. dollar has been very strong, de
Bitcoin Dominance Has Remained Under 40% for More Than 3 Consecutive Months
Bitcoin Dominance Has Remained Under 40% for More Than 3 Consecutive Months Over the last 100 days or roughly three months, bitcoin’s market dominance among 21,958 different
US Authorities Investigate Binance for Insider Trading and Market Manipulation: Report
US Authorities Investigate Binance for Insider Trading and Market Manipulation: Report Binance’s troubles with regulators grow as U.S. authorities are now reportedly investi
Genesis Global secures court approval for $3B payout
Amaka Nwaokocha1 hour agoGenesis Global secures court approval for $3B payoutAccording to Judge Lane, any available funds for distribution by Genesis are being exhausted by creditor claims, which take priority over DCG