Author Topic: Bitcoins - about to hit $5,000 per coin today! (Read 1771068 times)

deadz · « **Reply #11750 on:** January 23, 2025, 12:50:32 PM »

This thread always delivers the laughs.

obsidian · « **Reply #11751 on:** January 23, 2025, 03:32:25 PM »

https://cointelegraph.com/news/deutsche-bank-layer-2-blockchain-ethereum-zksync

Deutsche Bank builds L2 blockchain on Ethereum: Bloomberg
Deutsche Bank is building a layer-2 blockchain on Ethereum using ZKsync to enhance compliance in regulated finance.

Deutsche Bank, Germany’s largest lender, is reportedly developing its own layer-2 (L2) blockchain on Ethereum using ZKsync technology to address compliance challenges associated with using public blockchains in regulated finance.

The L2 solution, part of Project Dama 2, looks to improve transaction efficiency and secure regulatory safeguards, integrating directly with Ethereum, according to Bloomberg.

Project Dama 2 is part of the Monetary Authority of Singapore’s Project Guardian, which brings together 24 financial institutions to explore blockchain-based asset tokenization.

Implications for the financial sector
Deutsche Bank’s solution curates trusted validators and grants regulators special oversight to minimize risks such as interacting with sanctioned entities. The platform is designed to align blockchain transparency with financial compliance requirements.

Why an L2 blockchain?
L2 blockchains operate on top of primary layer-1 networks like Ethereum, enabling faster and cheaper transactions.

The technology offers regulatory tools such as “super admin rights,” enabling financial regulators to monitor and audit transactions when required.

obsidian · « **Reply #11752 on:** January 23, 2025, 03:37:52 PM »

https://decrypt.co/302364/ethereum-taps-wall-street-veteran-lead-revival-institutional-push

Ethereum Taps Wall Street Veteran Vivek Raman to Drive Institutional Push
Etherealize, backed by Vitalik Buterin and the Ethereum Foundation, aims to make Ethereum the top blockchain for Wall Street.

A new Ethereum-focused startup backed by founder Vitalik Buterin aims to win over Wall Street as the network attempts to keep up with broader developments in the crypto industry.

Etherealize, founded by former Nomura and UBS bond trader Vivek Raman, announced its launch Wednesday evening in New York.

"All roads flow through ETH. We'll show the world why," the company wrote in a statement posted on X.

The startup describes itself as an "institutional marketing and product arm" for the Ethereum ecosystem.

"In terms of Wall St assets, we're focused on bringing entire asset classes onchain, starting with the credit markets," Raman told Decrypt.

While Bitcoin benefits from mainstream adoption and potential government reserves, Ethereum's new Wall Street liaison faces the challenge of articulating the network's value proposition to institutional investors who have so far favored its older rival.

“We think the future of all assets is tokenization, and Ethereum is the most secure blockchain for high-value tokenized assets,” Raman noted after Decrypt asked about the firm's long-term prospects for the ecosystem.

Buterin and the Ethereum Foundation have been identified as key investors, according to a Bloomberg report on Wednesday. While the foundation confirmed its investment in Etherealize, neither party disclosed the funding amount.

The need for "safety, security, reliability, and a track record" among financial institutions can be satiated by Ethereum, Raman said in his interview with Bloomberg. Ethereum is the "only blockchain that stood the test of time," Raman claimed.

Growing pains

Over the past week, community concerns around the Ethereum Foundation's (EF) leadership and overall effectiveness have raised issues, comparing Ethereum to other projects and ecosystems in the industry.

Community members accuse the foundation of maintaining a bloated budget while failing to utilize its $900 million in Ether holdings or adequately support network developers.

In response, Buterin acknowledged ongoing leadership changes but later pushed back against toxic criticism, particularly toward EF Executive Director Aya Miyaguchi.

obsidian · « **Reply #11753 on:** January 23, 2025, 07:43:46 PM »

https://cointelegraph.com/news/ethereum-etf-issuers-staking-etfs-soon-live-joe-lubin

Ethereum ETF issuers expect staking to be greenlit soon: Joe Lubin
Ethereum co-founder Joe Lubin says issuers are confident that staked Ether ETFs will be approved under new SEC leadership.

Ether exchange-traded funds issuers are hopeful that funds offering staking could “soon” be given the regulatory go-ahead, says Consensys founder Joe Lubin.

“We’ve been in discussions with the ETF providers, and they’re already working hard on that, so they expect that to be greenlit reasonably soon,” Lubin told Cointelegraph in reference to staked Ether ETH ETFs.

The Ethereum co-founder added fund issuers are “working hard on creating the best solutions” for customers to deal with “any complexities around staking and slashing.”

“I think it’s going to be great for the technology and the ecosystem because they are leaning in to enable us to — as an ecosystem — do a better, more robust, more diversified job,” he said. “I think it’s going to lead to greater client diversity as well.”

The US Securities and Exchange Commission approved spot Ether ETFs last year, and nine products were launched in July. The funds had a slow start compared to their Bitcoin counterparts and currently have a cumulative inflow of around $2.7 billion.

The SEC has yet to approve a staked Ether ETF, but this may be about to change under new leadership, according to industry experts.

obsidian · « **Reply #11754 on:** January 23, 2025, 07:47:12 PM »

This might be huge for Bitcoin, Ethereum, Solana, XRP, etc.

https://beincrypto.com/sec-sab-122-banks-to-custody-bitcoin/

Breaking SEC Revokes SAB 121 Policy Allowing Banks to Custody Crypto

- The SEC’s new SAB 122 removes the requirement for banks to treat customer crypto-assets as liabilities, making compliance simpler.
- This change allows banks to safely custody Bitcoin and other crypto-assets without heavy financial burdens.
- The policy shift signals a pro-crypto stance in the US, with regulators easing restrictions and encouraging growth after years of hesitation.

The SEC announced Staff Accounting Bulletin (SAB) No. 122, canceling the previous guidance under SAB 121, which discouraged banks from holding Bitcoin in custody.

This means banks and traditional financial institutions can now offer crypto services without significant regulatory hurdles.

obsidian · « **Reply #11755 on:** January 23, 2025, 07:49:09 PM »

https://www.fxstreet.com/cryptocurrencies/news/sec-commissioner-hester-pierce-sheds-light-on-ethereum-etf-staking-under-new-administration-202412210155

Griffith · « **Reply #11756 on:** January 23, 2025, 10:02:22 PM »

One of the points on the Digital Financial Technology executive order includes promotion of US dollar stablecoins worldwide:

Promoting and protecting the sovereignty of the United States dollar, including through actions to promote the development and growth of lawful and legitimate dollar-backed stablecoins worldwide

https://www.whitehouse.gov/presidential-actions/2025/01/strengthening-american-leadership-in-digital-financial-technology/

gib · « **Reply #11757 on:** January 24, 2025, 01:33:51 AM »

Quote from: Griffith on January 23, 2025, 10:02:22 PM

One of the points on the Digital Financial Technology executive order includes promotion of US dollar stablecoins worldwide:

Promoting and protecting the sovereignty of the United States dollar, including through actions to promote the development and growth of lawful and legitimate dollar-backed stablecoins worldwide

https://www.whitehouse.gov/presidential-actions/2025/01/strengthening-american-leadership-in-digital-financial-technology/

Long term this is excellent for BTC. USD flows into stablecoins. Rails from stablecoins to BTC are open, meaning weak money globally initially flows to USD, and then thereafter to even strong money, being BTC.

gib · « **Reply #11758 on:** January 24, 2025, 01:41:44 AM »

Quote from: obsidian on January 23, 2025, 07:47:12 PM

This might be huge for Bitcoin, Ethereum, Solana, XRP, etc.

https://beincrypto.com/sec-sab-122-banks-to-custody-bitcoin/

Breaking SEC Revokes SAB 121 Policy Allowing Banks to Custody Crypto

- The SEC’s new SAB 122 removes the requirement for banks to treat customer crypto-assets as liabilities, making compliance simpler.
- This change allows banks to safely custody Bitcoin and other crypto-assets without heavy financial burdens.
- The policy shift signals a pro-crypto stance in the US, with regulators easing restrictions and encouraging growth after years of hesitation.

The SEC announced Staff Accounting Bulletin (SAB) No. 122, canceling the previous guidance under SAB 121, which discouraged banks from holding Bitcoin in custody.

This means banks and traditional financial institutions can now offer crypto services without significant regulatory hurdles.

Agree - yes very positve.

gib · « **Reply #11759 on:** January 24, 2025, 01:45:06 AM »

Quote from: obsidian on January 23, 2025, 11:23:19 AM

https://www.forbes.com/sites/beccabratcher/2025/01/23/why-the-bitcoin-president-is-really-more-of-an-ethereum-president/

Why The ‘Bitcoin President’ Is Really More Of An ‘Ethereum President’

In a surprising twist that has created controversy in the Bitcoin community, recent moves by President Trump’s newly launched World Liberty Financial have cast fresh light on the differences between Bitcoin and Ethereum.

At the heart of the controversy is a transaction involving wrapped bitcoin and bitcoin, terms that are anything but synonymous.

Trump’s Crypto Acquisitions Exclude Bitcoin
On Jan. 20, Donald Trump Jr. posted a series of strategic token purchases that commemorated the inauguration of his father as the 47th president of the United States. The purchases included:

$47,000,000 in ETH
$47,000,000 in WBTC
$4,700,000 in Aave
$4,700,000 in LINK
$4,700,000 in TRX
$4,700,000 in ENA

At first glance, this might appear to affirm bitcoin’s centrality in Trump’s digital currency realm. However, a closer look reveals that aside from TRX, all tokens are Ethereum-based assets.

Wrapped Bitcoin, for example, is not stored on the bitcoin blockchain but instead exists as an ERC20 token on Ethereum. It is backed 1:1 by bitcoin through a complex minting process that involves trusted custodians and merchant intermediaries.

Wrapped Bitcoin Is Not Bitcoin
The mechanism behind WBTC underscores its multifaceted utility. As outlined in its 2019 whitepaper, WBTC is a fundamentally different version of bitcoin, designed to leverage Ethereum’s expansive decentralized finance ecosystem.

Users who acquire wrapped bitcoin gain exposure to bitcoin’s value while enjoying the benefits of Ethereum’s smart contract capabilities and turing complete functionality. These include lending, borrowing, and yield generation, to name a few.

However the token’s holder does not own bitcoin in the elemental sense. Instead, they possess a derivative that exists only on another chain. This arrangement enhances token interoperability and serves as a clever, if controversial, marketing tool for political figures like Trump.

No issues with that. Any blockchain (or even trad-fi) can do all they want with assets which are derivatives' of BTC, or provide entitlements to BTC. Provided that BTC is at the core and foundation of any such stack, its all good. Just remember - not your keys not your coin. Its a lesson which time and time again needs to be, and will be, learned...

Griffith · « **Reply #11760 on:** January 24, 2025, 02:41:10 AM »

gib · « **Reply #11761 on:** January 25, 2025, 06:53:45 AM »

Quote from: obsidian on January 23, 2025, 11:07:06 AM

That guy is an idiot. He says: "Ethereum knows very well that it is a security". Ethereum doesn't know anything it is a blockchain. The guy's YouTube channel is called "Bitcoin University". LMAO. What do you expect?! Of course he will badmouth Ethereum.

That video is over 4 months old and Ethereum has not been classified as a security. Gensler himself even said a few weeks ago that the SEC never claimed Ethereum was a security.

Your post is a FAIL!

Dude, ETH wsa pre-mined, with stock given to the founders and associates. And then even worse it moved to proof of stake. The whole reason we got into BTC was to escape this shit. We have been over that already in prior posts...

gib · « **Reply #11762 on:** January 25, 2025, 06:59:45 AM »

Quote from: obsidian on January 23, 2025, 11:26:22 AM

I am guessing Trump is not a fan of someone like Saylor controlling 2% of the BTC supply.

Saylor is making a mistake. The more BTC he acquires the more he'll be undermining BTC. Nobody is interested in Saylor-coin. It's in the best interest of all Bitcoiners that he stops with what he has.

MSTR is owned and controlled collectively by hundreds of thousands of shareholders. And Saylor I think probably owns less then 10% of MSTR. So its hardly correct to say he controls the amount of BTC MSTR has purchased. Further, a lot of the BTC is securitized, meaning until any debt secured by that BTC is repaid, that BTC is also not really owned by MSTR.

Trump will be wanting to increase his BTC share for sure. That's what all the money he is raising from shitcoinery goes into. They has a family trust which holds and accumulates most of their BTC.

gib · « **Reply #11763 on:** January 25, 2025, 07:05:33 AM »

Quote from: gib on January 20, 2025, 03:07:29 AM

We will see. Wealth is finite. Memes are infinite. And gread and idiocy are also seemingly infinite. Long term, the truth always prevails.

And so, now a week later, we can see how right I was (once again), as we look at the performance of the Trump and Melania coins since this post...

Griffith · « **Reply #11764 on:** January 25, 2025, 07:22:27 AM »

Trump's World Liberty Financial currently holds $260 million in Ethereum of which $64 million is staked ETH.

gib · « **Reply #11765 on:** January 25, 2025, 08:31:31 AM »

As I said...

Mayday · « **Reply #11766 on:** January 25, 2025, 01:24:48 PM »

Quote from: gib on January 25, 2025, 08:31:31 AM

As I said...

Nothing new there.

Solana Exit liquidity for Ethereum purchases.

They’ll launch the same tokens on ETH and milk the liquidity aswell.

Griffith · « **Reply #11767 on:** January 26, 2025, 12:30:14 AM »

The World Liberty Financial portfolio is now over $400 million.

With over $260 million ETH, $67 million wBTC and $32 million USDC.

Of the $400 million portfolio, $360 million is on the Ethereum network.

gib · « **Reply #11768 on:** January 26, 2025, 02:43:16 AM »

Quote from: Griffith on January 26, 2025, 12:30:14 AM

The World Liberty Financial portfolio is now over $400 million.

With over $260 million ETH, $67 million wBTC and $32 million USDC.

Of the $400 million portfolio, $360 million is on the Ethereum network.

As so far performed pretty bad.

Portfolio valuation is 381.5m as of now.

They are down 13% since inception. (Quite amazing, considering the access to info and influence they have).

Losses suffered by investors so far are 42m (and that will of course increase as ETH, their largest holding, declines over time).

Total losses on their ETH to date is 8m.

Only holdings in their portfolio that are up are BTC and Tron.

I compare that to my own crypto portfolio - I'm up over 24x since inception, following a very simply strategy of buy and hodl BTC. 95% of my crypto portfolio is BTC. Once BTC hits 1m, (which it will), I will be 240x up. Not hard to do - have posted it all here for anyone to follow. In the long run, (unless are you the issuer), shitcoinery gets you nowhere...

Griffith · « **Reply #11769 on:** January 26, 2025, 03:29:53 AM »

Quote from: gib on January 26, 2025, 02:43:16 AM

As so far performed pretty bad.

Portfolio valuation is 381.5m as of now.

They are down 13% since inception. (Quite amazing, considering the access to info and influence they have).

Losses suffered by investors so far are 42m (and that will of course increase as ETH, their largest holding, declines over time).

Total losses on their ETH to date is 8m.

Only holdings in their portfolio that are up are BTC and Tron.

I compare that to my own crypto portfolio - I'm up over 24x since inception, following a very simply strategy of buy and hodl BTC. 95% of my crypto portfolio is BTC. Once BTC hits 1m, (which it will), I will be 240x up. Not hard to do - have posted it all here for anyone to follow. In the long run, (unless are you the issuer), shitcoinery gets you nowhere...

They had $5.5 million in ETH on 19 January and currently have $260 million in ETH.

World Liberty Financial have been buying ETH non-stop, the WBTC they bought and the USDC they hold are also on the Ethereum network.

Their portfolio is now at almost $410 million.

Griffith · « **Reply #11770 on:** January 26, 2025, 03:39:28 AM »

Headline on Forbes:

King Shizzo · « **Reply #11771 on:** January 26, 2025, 04:25:45 AM »

After all of these years, I still don't know what a bitcoin is.

It's literally made up money. Just like the stock market with "shares". It was built for the ultra wealthy, and people in the know (insider trading) to manipulate wealth and power.

Who was the first guy who said "I'm going to make my own currency!" Whats the scary part, is that he wasn't laughed out of the room.

It's just another way to manipulate society. Just look at all of the fake coins that others are trying to come out with.

Wouldn't you laugh if someone wanted to pay you in Monopoly money? Why is Monopoly money not worth what bit coin is?

They are both made up currency.

obsidian · « **Reply #11772 on:** January 26, 2025, 05:07:55 AM »

Quote from: gib on January 26, 2025, 02:43:16 AM

As so far performed pretty bad.

Portfolio valuation is 381.5m as of now.

They are down 13% since inception. (Quite amazing, considering the access to info and influence they have).

Losses suffered by investors so far are 42m (and that will of course increase as ETH, their largest holding, declines over time).

Total losses on their ETH to date is 8m.

Only holdings in their portfolio that are up are BTC and Tron.

I compare that to my own crypto portfolio - I'm up over 24x since inception, following a very simply strategy of buy and hodl BTC. 95% of my crypto portfolio is BTC. Once BTC hits 1m, (which it will), I will be 240x up. Not hard to do - have posted it all here for anyone to follow. In the long run, (unless are you the issuer), shitcoinery gets you nowhere...

I took a screenshot about 1 hour ago and their ETH is up and WBTC is down. Of course, that can all change tomorrow or a few hours from now. It is pointless to look at short time frames. Yes, ETH has been down against BTC the past 2-3 years. We've had extreme ETH FUD and sentiment is now probably as low as it has ever been. The contrarian position is that this is very bullish. ETH is extremely undervalued relative to BTC. But the fundamentals are good. Swiss and German banks are developing on Ethereum. Sony released a L2. BlackRock's Spot ETH ETF is approaching $4 billion.

The President of the US is buying and staking ETH.

Ethereum's inflation is lower than BTC and a hell of a lot lower than Solana.

Ethereum never goes offline, Solana does.

Your negativity about Ethereum and forecast of continued decline is irrational when you consider what's going on.

https://dropstab.com/p/world-liberty-financial-holdings-m574rtlqs8

gib · « **Reply #11773 on:** January 26, 2025, 07:11:26 AM »

Quote from: Griffith on January 26, 2025, 03:29:53 AM

They had $5.5 million in ETH on 19 January and currently have $260 million in ETH.

World Liberty Financial have been buying ETH non-stop, the WBTC they bought and the USDC they hold are also on the Ethereum network.

Their portfolio is now at almost $410 million.

There portfolio is public. You can see it in real time.

Current value is not 410mil. Its 382m.

ETH sellers have been dumping to them, and despite their buying they are down 7.64m on their ETH buys. They are up .33% on their BTC buys, which so far has been their best performing investment. So far, overall they are down 12.82% since inception. Not a great track record at all to date.

The purchase of wrapped BTC on a smart blockchain, suggest they may want to leverage BTC, or do a type of "infinite money glitch" trading, likely using a USD stablecoin. Lets see...

gib · « **Reply #11774 on:** January 26, 2025, 07:13:45 AM »

Quote from: obsidian on January 26, 2025, 05:07:55 AM

I took a screenshot about 1 hour ago and their ETH is up and WBTC is down. Of course, that can all change tomorrow or a few hours from now. It is pointless to look at short time frames. Yes, ETH has been down against BTC the past 2-3 years. We've had extreme ETH FUD and sentiment is now probably as low as it has ever been. The contrarian position is that this is very bullish. ETH is extremely undervalued relative to BTC. But the fundamentals are good. Swiss and German banks are developing on Ethereum. Sony released a L2. BlackRock's Spot ETH ETF is approaching $4 billion.

The President of the US is buying and staking ETH.

Ethereum's inflation is lower than BTC and a hell of a lot lower than Solana.

Ethereum never goes offline, Solana does.

Your negativity about Ethereum and forecast of continued decline is irrational when you consider what's going on.

https://dropstab.com/p/world-liberty-financial-holdings-m574rtlqs8

Try scrolling across to the right just a little bit and learn how to use the chart... As I have explained, they have so far, since inception, lost on ETH. Its been their biggest loser, and contributed to their overall loss of around 12.82% since inception.

President is not buying ETH. However, a company claiming to have an association with him is. And that is the same president who just issued a shitcoin. And his wife also...

You have been telling pro-ETH narratives for years now. I have explained numerous times why ETH will fall in value over time. You are correct that for some purposes it is a better blockchain than Solana. But either way, none of its attributes give it anywhere near the current market cap in value that it currently has.

Dude you are too smart for you own good sometimes. Please stop this nonsense and just start scaling back into BTC. I truly do not want to be having this "I told you so" conversation in a few years from now. Your commitment is admirable, but that type of enthusiasm is misplaced, and would be much better directed at BTC.