Bitcoin / Bitcoins / Crypto Currency

Wonder what the fallout will be from this:

https://twitter.com/adyingnobody/status/1534021154674966529

The consensus on Hacker News is that it may just be a hoax. Interesting to see how it plays out though.

Is there a tldr summary?

Anonymous person claims to have found a Telegram exploit allowing them to scrape 137GB of group/private message data since 2019. Allegedly, this includes chat among well known crypto participants/influencers who have privately orchestrated rug pulls, pump and dumps etc. The delayed release of the actual data (15th June) and the lack of facts casts a lot of doubt about whether it's real.

Really does feel like a hoax but I I was on a call with a crypto company who was discussing which influencers to hire yesterday and they decided to pause plans until they can establish whether its real or not for fear of hiring a paedophile. People are being cautious.

Don’t forget the alleged “assassination, not once, not twice, but three times”.

Suprised they didn’t lead with the triplet of assassination.

There was a strong rumour about two crypto devs known as vertoe and chaeplin being murdered by contract killers in 2015. Most still believe it. Both still very much alive and well.

Haha. Conspiracy is rife everywhere it seems.

I did listen to the Death in Cryptoland podcast a while back actually and it had me wondering if Gerald Cotten is alive and well swimming in QuadrigaCX customers cash.

as it should

So, err, what the fuck?

So, err, what the fuck?

I don't think anybody truly knows but the most common opinon is the US CPI data from a few days ago has caused a little panic both in conventional markets and crypto.

https://www.bloomberg.com/news/articles/2022-06-13/asian-stocks-slump-most-in-three-months-on-us-cpi-china-woes

I am unconvinced that crypto is directly pegged to CPI but correlation/causation and all that. If enough people believe it as true...

But someone on twitter promised me this is a supercycle...

What's happening?

Celcius halting withdrawals

For myself though, ETH just at another low, don't think it's been so low since March 2021

Lots of volatility across world markets - looks like crypto is a part of it. Maybe someone big getting fucked.

Feel like I should be transferring my exchange coins over to a wallet. Any recommendations?

Feel like I should be transferring my exchange coins over to a wallet. Any recommendations?

What sort of coins are they? ERC20? BEP20? UTXO?

ERC20

What's happening?

A global recession is (nearly) happening.

erc20

Metamask.

I guess Celsius liquidating is putting some technical pressure on the market as well. We are about to find out whether they set the overcollateralisation requirements high enough to make depositors whole.

I guess Celsius liquidating is putting some technical pressure on the market as well.

You're probably right. I missed that entirely because I hadn't even heard of Celsius until this morning. Never really got my head around decentralised finance where there's a centralised entity pulling all of the strings.

See also Immutable X, the layer 2 NFT platform for ETH that make false claims about being decentralised.

This is a recurring theme in crypto.

1) Make bold claims about what your service will be
2) Discover that crypto is actually a super complex area of cryptographic research and that to create your service using blockchain is either impossible or outside of your expertise or budget levels
3) Run it like a traditional centralised business and pretend that you are a crypto project.
4) Nobody cares because they don't understand and are making $$$
5) Fail

Guess we will find out soon
https://twitter.com/MikeBurgersburg/status/1536277332826136576

Luckily in this market there are enlightened intermediaries that can disable selling until the urge to HODL returns:
https://twitter.com/cz_binance/status/1536317704990208000

Lol, as long as funds are SAFU, CZ always looking out for the little guys

I mean, stuck transactions can only be fixed by wallet reindexes so do require downtime. Whilst I am sceptical about the long term lgitimacy of Binamce I doubt they'd pull shenanigans on a relatively low volume day like today.