BITCOIN
- Thread starter Weather Man
- Start date
A better investment for sure!!
I miss it these days. But now I have a truck with no payment, and a bed to put all my equipment in.
One day I’ll get another I think. Just no rush with starting a business recently
GOOD LUCK with your new bidness!!
Doh! When a peg is a peg until it isn't.
DEI, an algorithmic cross-chain fractional-reserve stablecoin, has lost its peg to the U.S. dollar over the past 24 hours as selling pressure takes hold.
The stablecoin, which operates within decentralized finance ("DeFi") project Deus, has nosedived to as low as 52 cents early Monday and recovered a bit to $0.68 at the time of writing, according to data from CoinMarketCap.
To ensure its $1 peg, DEI's collateral ratio is constantly monitored and adjusted via arbitrage bots, which are tools that execute trades to capitalize on price discrepancies. The composition of DEI consists of 10% DEUS tokens and 90% in other stablecoins. By contrast, stablecoins like Tether (USDT-USD) or USD Coin (USDC-USD) are backed by dollar-denominated assets/reserves.
"Traders likely exchanged DEI tokens for USDC amid a small amount of liquidity on decentralized exchanges, which caused price fluctuations," CoinDesk explained. "Lower prices led to more traders selling DEI for other tokens, presumably to protect against risks, which further contributed to a price drop."
DEI's swoon comes shortly after TerraUSD (UST-USD) and its sister token Luna (LUNA-USD) became nearly worthless.
DEI becomes latest algorithmic stablecoin to lose $1 peg, falling under 70 cents
UST-USD -59.37%May 16, 2022 11:47 AM ETDEI, an algorithmic cross-chain fractional-reserve stablecoin, has lost its peg to the U.S. dollar over the past 24 hours as selling pressure takes hold.
The stablecoin, which operates within decentralized finance ("DeFi") project Deus, has nosedived to as low as 52 cents early Monday and recovered a bit to $0.68 at the time of writing, according to data from CoinMarketCap.
To ensure its $1 peg, DEI's collateral ratio is constantly monitored and adjusted via arbitrage bots, which are tools that execute trades to capitalize on price discrepancies. The composition of DEI consists of 10% DEUS tokens and 90% in other stablecoins. By contrast, stablecoins like Tether (USDT-USD) or USD Coin (USDC-USD) are backed by dollar-denominated assets/reserves.
"Traders likely exchanged DEI tokens for USDC amid a small amount of liquidity on decentralized exchanges, which caused price fluctuations," CoinDesk explained. "Lower prices led to more traders selling DEI for other tokens, presumably to protect against risks, which further contributed to a price drop."
DEI's swoon comes shortly after TerraUSD (UST-USD) and its sister token Luna (LUNA-USD) became nearly worthless.
Terraform Labs' legal team quits after UST, LUNA meltdown
May 17, 2022 3:33 PM ETTerraUSD (UST-USD), LUNA-USDBy: Max Gottlich, SA News Editor1 Comment- Shortly after the debacle of cryptocurrency LUNA (LUNA-USD) and algorithmic stablecoin TerraUST (UST-USD), Singapore-based Terraform Labs' legal team has resigned.
- Moreover, counsel team members Marc Goldich, Lawrence Florio and Noah Axler all fled from Terraform, the company behind UST and LUNA, this month, as seen in their LinkedIn profiles Tuesday.
- As a result, legal matters are now being dealt with by outside counsel, a person with knowledge on the matter told The Block Tuesday.
- “The past week has been challenging for Terraform Labs, and a small number of team members resigned in recent days,” a spokesperson for the company told The Block. Nevertheless, "our focus is now on executing our plan to revive the Terra ecosystem.”
- Earlier, Bill Ackman likened Terra's algorithm to a crypto version of a pyramid scheme.
Earlier this week, ECB president Christine Lagarde told Dutch television that crypto assets were "worth nothing, based on nothing and there is no underlying asset to act as an anchor of safety." Last month, ECB executive Fabio Panetta, also compared the sector to a Ponzi scheme, calling for a regulatory crackdown to prevent a lawless frenzy of risk-taking. "Such dynamics can only continue as long as a growing number of investors believe that prices will continue to increase and that there can be fiat value unbacked by any stream of revenue or guarantee. Until the enthusiasm vanishes and the bubble bursts."
HIVE Blockchain Technologies announces 1-for-5 share consolidation
HIVE -5.89%May 24, 2022 3:48 AM ET4 Comments- HIVE Blockchain Technologies (NASDAQ:HIVE) board approved to effect a share consolidation of its shares at the ratio of 1-for-5, effective May.24.
- The objective of the share consolidation is to efficiently allocate shareholder capital.
- The company shares will trade on the TSXV and Nasdaq on a post-Consolidation basis under the same symbol, effective May 24, 2022.
- The consolidation will reduce the number of shares issued and outstanding from ~411.21M to ~82.24M shares.
- Consequently, the number of listed HIVE Warrants outstanding shall not be altered; however holders of HIVE Warrants will be entitled to receive one post-Share consolidation common share upon exercising five HIVE Warrants upon the payment of an adjusted price of CAD$30.00.
I believe I called the "flight to quality" some time back.
Consumers reportedly lost over $1B to cryptocurrency fraud since 2021 - FTC
Jun. 03, 2022 3:49 PM ET1 CommentConsumers said they lost more than $1B to cryptocurrency-related fraud from January 2021 through March, suggesting crypto is "quickly becoming the payment of choice for many scammers," according to a release by the Federal Trade Commission on Friday.
Most of the reported losses ($575M) involved bogus crypto investment scams, the FTC said, adding that one out of every four dollars lost to fraud was paid in crypto.
The next largest losses reported by consumers were on so-called "romance scams," which involve a love interest who tries to tempt someone into investing in a hidden crypto scam, the government agency noted. Also, "business and government impersonation scams" targeted consumers by claiming their money is at risk because of fraud and the only way to protect their cash was converting to crypto.
And those aged 20 to 49 were more than three times as likely as older age groups to have reported losing money to a crypto scam, the FTC noted.
It's no secret that fraud-related activities have been among some the biggest threats facing the crypto marketplace. Last year, Securities and Exchange Commission Chairman Gary Gensler warned the world that crypto is "rife with fraud, scams, and abuse." Some government agencies, including the SEC, have taken steps to further oversee the evolving matter. Recently, the Department of Justice appointed its first director of the National Cryptocurrency Enforcement Team.
That made me want to look up any recent details on the fed's big bust some month ago: Ilya Lichtenstein, Heather Morgan talking plea deal for bitcoin heist
I see there was one post about it in this thread, but no expanding. Reading up some details on it, how they tried to launder the BTC, etc is rather interesting, but dude's wife is the real head scratcher. They were sitting on like 4.5 billion in BTC, and living it up in NYC like rockstars, while she wins the award for the most cringeworthy white girl rapper of all time. She's always doing like gang signs with her fingers and sticking her tongue out, she loves wearing a fanny pack, and adding custom bits to her clothes, and other stuff like rapping about her periods. Just watch some of her videos at random and think she was in partial control of 4.5 BILLION in BTC.
Crickets..........
I'm so confused. Multiple people in here have claimed Bitcoin is going to zero. When is this going to happen? Is it going to be in my lifetime? Asking for a friend.
When the stock market gets to zero - check you Bitcoin.
I got out of the Stock Market 3 months ago!!
All of what's going on makes little sense and it will become quite interesting over the next few months!!
All of what's going on makes little sense and it will become quite interesting over the next few months!!
Crypto will hit zero before the stock market ever does
Sent from my iPhone using svtperformance.com
Sent from my iPhone using svtperformance.com
Both are manipulated by forces other than us SMALL INVESTORS!!
