vmception

There are transaction IDs to the exchanges

There wont be transaction IDs after that because its not onchain

You and the community could ask for an audit by an accounting firm like Deloitte, like the rest of the business world uses, itll come out a quarter or two from now leaving us all in exactly the same spot for now. The transparency expectations make almost no sense or lack inspiration.

I'm down for using it in limited circumstances, like maximum pwnage, like when a university or municipality gets all of their computers ransomwared and negotiations fail with all the data being deleted with no backup.

But only in an off the cuff remark as a passive observer, amused by the circumstance and grandstanding necessary to fail so hard.

in a regulated market all you would simply have are some codified fiduciary duties and standardized disclosures

Terra Luna and TerraUSD's algorithmic operations were all disclosed publicly and scrutinized in the open sphere

Do Kwon stated publicly why he was buying the bitcoin - to repurchase Terra Luna and TerraUSD because its shitty broken product that might need to be rebought to temporarily help restore its peg - and Do Kwon has stated publicly now why the bitcoin sold - to repurchase Terra Luna and TerraUSD because its shitty broken product that might need to be rebought to temporarily help restore its peg

I think in a regulated market he just walks away just like all investment banks and bankers do

There are plenty of Exchange Traded Notes (ETNs) that obtusely say "this is dogshit and its going to fall to zero during a period of volatility" and then fall to zero during a period of volatility

Thats exactly what Terra Luna and TerraUSD did

all regulation would do is standardize the way the disclosure is done, really the most likely thing that comes from this is a regulator mandated additional sentence in a brokerage firm's 40 page disclaimer that you surely will read after consulting your financial advisor.

Its up to the consumer/investor, it always is.

uh yes exactly? thats the only reason they bought the bitcoin in the first place

Terra Luna was already stupid enough, its stupid to make this part controversial because that was the purpose of this collateral, just as its stupid to not believe the bitcoin was sold after transfer to the exchanges (many people believe that its still owned, or was given to some whales to bail just them out, or the founder keeps it for himself)

https://bitcoinist.com/terra-luna-will-buy-10-billion-worth-...

https://www.bloomberg.com/news/newsletters/2022-04-19/crypto...

Yep, never seen a bounce with that amplitude and speed before, personally.

I love how crypto can have so many exchanges accessible simultaneously. Prices all over the place. Chart and price aggregators all over the place. Massive information asymmetries. Better to make your own pricing tools and have better information than others, the bar is quite low so its easy to get an advantage here than in tradfi.

The trading patterns have been identified twice now. I’m sure its been insightful to someone.

Yeah I was watching it closely and should have dropped $5k in

I love buying the dip, I just didnt like the infinite inflation. I do my dip buys when there is a better information asymmetry that I perceive because the market cant code. I’m not good at these retail meme coin rallies.

The US government indicted the BTC-E founder, that indictment details the hack of many exchanges including Mt Gox.

Gox was fractional before Karpeles even bought it, due to this hack of bitcoin.

Nobody got paid yet. This is going to drag out for a long long time.

I also think the BTC-E issue is bigger and gives me reason to think Mark Karpeles wrongfully served jail time in Japan (for the reason that he served time, there could be other reasons if people like that kind of consequence).

> Oil and gas are vitally useful. They have actual value to make things and move things and power things.

And what was the point of that copypasta?

Analogies compare dissimilar things in the ways that they are alike, not the ways they are not alike. The trading patterns and supply and demand pressures are the ways they are alike, whether you respect why such pressures exist or not.

Because they took so long that the remaining assets value when up 300x ($100 - $30000)

Any way, believe it when I see it

Right, there is no takeaway, retail was making it a meme coin for the lulz and this is about volatile fun trading opportunities from people like me that have no care for the name of any asset or ticker.

A buy the dip trade fueled by unverifiable rumors of a recovery plan.

Amongst all volume I was not particularly amused by the 15minute bars, it would have been hard to move 7 figures usd, but they could eat a 6-figure market order easily. The rest would need just a little patience.

No need for me to move the goal post to legit vs not real volume, there were some AMMs that had the same liquidity depth.

> Nothing different would happen. People want to see Do Kwon have more reasons to have charges against him

Yeah, 300x, 500x, overnight, eventually we’ll be talking some significant money

Kucoin and Binance

But other people are more willing to explain it

You would be better off using a spreadsheet updated with your own data points than price aggregators.

But that very website says the 24 hour low was $0.00001675 and the current price of $.00016 is 10x higher

The reality is that the lows on specific exchanges had more zeroes than that

Sure, it’s a commodity and trades like a commodity.

Anything that stops a supply from overwhelming demand results in an increase in price.

Commodities traders accept the seasonality of their assets, and arent perma-bulls, with the exception of metals traders. Bitcoin inherits a mixture of stock traders and metals traders sentiment, where perma-bulls mentality of “number go up forever” is present but less warranted.

There are obvious periodic supply and demand movements in bitcoin, just like there is in oil, natural gas, and other commodities.

By 2032?

We need new songs, “you just got Do Kwon’d” instead of “Mt Goxxed”

> Also, “In a sense, the market is going to take that as kind of bullish.” - a.k.a. the standard 'this is good for bitcoin' quote, applicable whatever the news is!

Yes all weekend I had been wondering and cautious based on how much bitcoin was left to sell! Its just a commodity, supply can be faster than demand, specifically when one whale is expected to flood the market

Terra Luna rallied 500x (50,000%) off the lows. Minting many millionaires that bought that dip. The rumors were that the recovery plan involved a bunch of the bitcoin collateral. I couldn’t verify that well.

Knowing its all gone (or the selling pressure is done, whether you believe it was sold or not) is very helpful

Terra Luna resumes its crash too

I mean that was the expected outcome and now people are like “proof of the expected outcome!?!”

Following months of outcry about the unsustainable nature of Terra Luna, Do Kwon through his foundation tried to partially collateralize the stablecoin with bitcoin, with a goal of buying up to $10bn of bitcoin. He got $3-5bn (at the time, price changed a lot), and this prolonged the confidence system for one additional month.

And then it imploded and sold the collateral, of course it was partial collateral so it failed to do anything in a bank run.

So it doesnt matter whether we get records from exchanges or not. Nothing different would happen. People want to see Do Kwon have more reasons to have charges against him, but there’s no need to attribute it to malice, everything can be explained by incompetence already.

At this point I just buy new phone mobile number lines as an overhead cost

With voip numbers being basically banned in 7 out of 10 services, I’m too privileged to be trying these infinite workarounds aside from just adding another line

Since I’m not trying to be anonymous (to a subpoena) but nobody else can tell the user is the same and assume people won’t bother with paying for an additional phone number or device, so its fine, for now

Iphones have dual sims though

Yeah, tough order for them, Xi has specifically said they won’t do a Darwinian thing that the west/US did

So they will have to keep doubling down until more people die of starvation or a reaction to a mental health challenge

I’ve read that before, it engages well but I’m not sure they all know what human babies sound like, it just gets a reliable response and other frequencies are either ignored or don’t get then the response they like the most

Exactly, cats have an extremely wide range of frequencies they can both create and hear, if they are vocalizing at all

They almost all independently chose to pick the signature one we associate with cats, just for us

A lot of times they respond or acknowledge as well, just not with their eyes

They wont look at you because its not their primary way of “seeing” or spatializing the world or their etiquette

Their ears might briefly move in your direction, their tail might flick in one of their frustrating ways, they might not move a muscle (which is a conscious response for them as well)

We don’t know about it having a worse effect on people, but it’s just more transmissible, and china does have a lack of exposure and lack of immunity

Depends more on transaction fees then the base currency used

If people pay to use that network and that increases, means alot of people are

Its very developer friendly

Now we don’t have to pay for any costs (maaaaybe a smart contract deployment once) and the users can’t help themselves from interacting

Compared to web 2 marketing funnels, this is a one click funnel where every click is a payment. (Every click doesnt have to be a payment, users dont currently care)

Thats a great value proposition

Cheaper to operate, faster to accept payment, better path to getting payment. Pick all three.

It is very strange