Bitcoins - about to hit $5,000 per coin today!

[obsidian]

[gib]

I deserve to be added into that scene as well I think...

[obsidian]

I deserve to be added into that scene as well I think...

I'll do that for sure when I get a chance. With a Bitcoin logo. But you might not fit on the screen 

PS - Flexacon - I'm just messing with you 

[gib]

I'll do that for sure when I get a chance. With a Bitcoin logo. But you might not fit on the screen 

PS - Flexacon - I'm just messing with you 

Or maybe me holding a big bag of BTC (and a tiny little bag of Eth...).

[Griffith]

Ethereum reclaims USDT lead

Ethereum has reclaimed its position as the primary network for USDT supply, reaching $80 billion and surpassing Tron after falling behind earlier in March.

Companies like PayPal with PYUSD and other traditional finance players are incorporating stablecoins into their existing rails, favoring Ethereum's more established institutional presence.

Ethereum's advantage in capturing institutional stablecoin flows could reinforce its position as the primary settlement layer for sophisticated financial applications, particularly as traditional finance continues to explore blockchain-based payment solutions.

https://www.theblock.co/post/371697/ethereum-reclaims-usdt-lead-surpassing-tron

[SouJerz]

October/November fireworks?  250k fair value?

I’m gonna say we crack 20% above the current all time high in October/november.

KEEP STACKING SATOSHIS!!!!!

[Griffith]

SWIFT launches a blockchain-based pilot using LINEA, an Ethereum Layer 2 platform.

LINEA is an Ethereum Layer 2 solution powered by zkEVM (zero-knowledge Ethereum Virtual Machine) technology. This innovative approach enables Ethereum-compatible applications to operate with enhanced scalability, privacy, and real-time transaction tracking. By adopting LINEA, SWIFT is leveraging blockchain technology to address long-standing challenges in global financial systems.

One of the most significant challenges in blockchain adoption for traditional finance is ensuring privacy and regulatory compliance. SWIFT’s collaboration with LINEA addresses these concerns through advanced cryptographic proofs, which safeguard sensitive data while meeting institutional requirements.


https://www.okx.com/en-eu/learn/linea-swift-blockchain-global-payments

[gib]

For all those who want BTC with a yield - now you can. And this is very significant by the way, in addressing the (fake) yield that Eth and many scam coins uses to pitch themselves to investors. (Why such "yields" are generally an illusion, I have explained before.

https://www.ccn.com/education/crypto/blackrock-bitcoin-premium-income-etf-yield-product

[obsidian]

For all those who want BTC with a yield - now you can. And this is very significant by the way, in addressing the (fake) yield that Eth and many scam coins uses to pitch themselves to investors. (Why such "yields" are generally an illusion, I have explained before.

https://www.ccn.com/education/crypto/blackrock-bitcoin-premium-income-etf-yield-product

Calling ETH’s staking yield “fake” shows a basic misunderstanding of proof-of-stake. That yield isn’t some gimmick — it’s native block rewards and fees paid to validators for securing the network, exactly like miners earn in Bitcoin. The only difference is the mechanism: Bitcoin rewards hash power, Ethereum rewards staked capital. Both are built into the protocol and essential to security.

Labeling ETH’s yield as “fake” while celebrating Bitcoin’s block subsidy is inconsistent — they’re the same concept applied to two different security models. If anything, staking offers a more capital-efficient way to secure a network without the enormous energy cost of proof-of-work.

Meanwhile, this so-called “BTC with yield” isn’t coming from Bitcoin at all — it’s off-chain financial engineering from BlackRock or another intermediary. That introduces counterparty, custodial, and regulatory risk just to earn a small return. If the middleman fails or is frozen, your yield (and possibly your principal) disappears.

Ironically, ETH’s yield is more real because it’s paid directly by the network with no intermediaries, no wrapped products, and no off-chain promises — just the base-layer economics that secure the chain.

[obsidian]

https://forklog.com/en/americas-first-ethereum-etf-with-staking-launches/

America’s first Ethereum ETF with staking launches

On September 25, REX Shares and Osprey Funds announced the launch in the US of an Ethereum-ETF with staking. Filings from BlackRock and Fidelity remain under review by the SEC.

As noted in the announcement, the new product with the ticker ESK “became the first fund in the States to offer access to the spot price of the second-largest cryptocurrency and to include staking.” Investors will receive monthly distributions for participating in supporting the Ethereum network.

The Commission earlier requested additional time to evaluate applications from BlackRock, Fidelity and Franklin Templeton to add this feature to their ether-based ETFs. Exchange-traded funds based on the asset already trading have attracted about $25.5 billion in total.

[gib]

Calling ETH’s staking yield “fake” shows a basic misunderstanding of proof-of-stake. That yield isn’t some gimmick — it’s native block rewards and fees paid to validators for securing the network, exactly like miners earn in Bitcoin. The only difference is the mechanism: Bitcoin rewards hash power, Ethereum rewards staked capital. Both are built into the protocol and essential to security.

Labeling ETH’s yield as “fake” while celebrating Bitcoin’s block subsidy is inconsistent — they’re the same concept applied to two different security models. If anything, staking offers a more capital-efficient way to secure a network without the enormous energy cost of proof-of-work.

Meanwhile, this so-called “BTC with yield” isn’t coming from Bitcoin at all — it’s off-chain financial engineering from BlackRock or another intermediary. That introduces counterparty, custodial, and regulatory risk just to earn a small return. If the middleman fails or is frozen, your yield (and possibly your principal) disappears.

Ironically, ETH’s yield is more real because it’s paid directly by the network with no intermediaries, no wrapped products, and no off-chain promises — just the base-layer economics that secure the chain.

Gosh you are a deceptive one Obsidian. I would stay stubborn, but I think deceptive is the better word, and I believe you are smart enough to know the reality of what you are posting. Eth promotors have tried every trick in the book to deceive people with slight misapplications of established financial concepts. Eg, "Eth is better than BTC, because can enable smart contracts as well as functioning as a store of value". "Eth is better for the environment". Misusing the concept of what a treasury in traditional finance is, hence mis-promoting the concept of an "Eth treasury company". (Those who invested in any such "Eth Treasury company" will be burned) - the concept of an Eth Treasury company makes about as much sense as saying you are an "Apple Treasury company, or a Walmart Treasury company" and then selling your stock at a premium to the price Apple's stock or Wallmart's stock. Your favourite one - "BTC miners may lose the incentive to mine" - when the reality is that hashrate is an an all time high. Moving to a fake "proof of work", where no work is actually needed, calling it "proof of stake", and claiming this is better that actual work to support a scarce asset. And now with this Eth is better than BTC as it provides a "yield", which is also fake and misleading. A real yield, would be a legitimate payout from revenue earned using the protocol, (not just the issuance of newly printed tokens which dilute the total number of tokens in circulation). Its insidious stuff, as some of this does cause investor confusion, and amounts to a kind of financial trickery which preys on people's lack of basic financial concepts. Paying out a yield from an ever diluted asset, really does amount to a Ponzi scheme - doing this with "crypto" is just the latest version of this concept. Eventually though, always, the market does eventually reflect the reality. Not just that, but Eth again is in the middle of a rock and hard place. It's not rock solid BTC with yield but its function and utility based on its perfect scarcity, yet on the other side, Solana, and every other shit coin can simply offer "double the yield of Eth", by doubling the number of coins they issue to existing coin holders, and then someone comes and offers quadruple the "yield", etc. Shitcoinery always gravitates to the lowest common denominator, and eventually it kills itself. (Only winners are the exchanges, the shitcoin founders, the "investors" who managed to get in/out in time, and of course Bitcoin holders, who just continue to be justified over and over.

You are right about the comment that "This so-called “BTC with yield” isn’t coming from Bitcoin at all — it’s off-chain financial engineering from BlackRock or another intermediary. That introduces counterparty, custodial, and regulatory risk just to earn a small return. If the middleman fails or is frozen, your yield (and possibly your principal) disappears."

Personally, this product is not for me, but for those who are persuaded that an asset that produces a "yield" is more desirable, this is yet another product (among many) that we will see based on a derivative of, or built on, BTC. Also all the various MSTR products.

Back at 125.

[FitnessFrenzy]

Do you guys like the BTC related stocks such as MSTR, or do you prefer a pure bitcoin play?

[SouJerz]

Uptober?

[TabloidSteroids]

Uptober?

Can't wait, my bag are heavy.

[Flexacon]

Uptober?

$5 BILLION for FTX customers is being returned to them tomorrow. Easy front run..

[obsidian]

Gosh you are a deceptive one Obsidian. I would stay stubborn, but I think deceptive is the better word, and I believe you are smart enough to know the reality of what you are posting. Eth promotors have tried every trick in the book to deceive people with slight misapplications of established financial concepts. Eg, "Eth is better than BTC, because can enable smart contracts as well as functioning as a store of value". "Eth is better for the environment". Misusing the concept of what a treasury in traditional finance is, hence mis-promoting the concept of an "Eth treasury company". (Those who invested in any such "Eth Treasury company" will be burned) - the concept of an Eth Treasury company makes about as much sense as saying you are an "Apple Treasury company, or a Walmart Treasury company" and then selling your stock at a premium to the price Apple's stock or Wallmart's stock. Your favourite one - "BTC miners may lose the incentive to mine" - when the reality is that hashrate is an an all time high. Moving to a fake "proof of work", where no work is actually needed, calling it "proof of stake", and claiming this is better that actual work to support a scarce asset. And now with this Eth is better than BTC as it provides a "yield", which is also fake and misleading. A real yield, would be a legitimate payout from revenue earned using the protocol, (not just the issuance of newly printed tokens which dilute the total number of tokens in circulation). Its insidious stuff, as some of this does cause investor confusion, and amounts to a kind of financial trickery which preys on people's lack of basic financial concepts. Paying out a yield from an ever diluted asset, really does amount to a Ponzi scheme - doing this with "crypto" is just the latest version of this concept. Eventually though, always, the market does eventually reflect the reality. Not just that, but Eth again is in the middle of a rock and hard place. It's not rock solid BTC with yield but its function and utility based on its perfect scarcity, yet on the other side, Solana, and every other shit coin can simply offer "double the yield of Eth", by doubling the number of coins they issue to existing coin holders, and then someone comes and offers quadruple the "yield", etc. Shitcoinery always gravitates to the lowest common denominator, and eventually it kills itself. (Only winners are the exchanges, the shitcoin founders, the "investors" who managed to get in/out in time, and of course Bitcoin holders, who just continue to be justified over and over.

You are right about the comment that "This so-called “BTC with yield” isn’t coming from Bitcoin at all — it’s off-chain financial engineering from BlackRock or another intermediary. That introduces counterparty, custodial, and regulatory risk just to earn a small return. If the middleman fails or is frozen, your yield (and possibly your principal) disappears."

Personally, this product is not for me, but for those who are persuaded that an asset that produces a "yield" is more desirable, this is yet another product (among many) that we will see based on a derivative of, or built on, BTC. Also all the various MSTR products.

Back at 125.

You keep calling ETH’s yield “fake,” but it’s the same thing as Bitcoin’s block rewards — native issuance and fees paid to secure the network. If that’s a Ponzi, then Bitcoin is too. The only difference is that PoW rewards electricity, while PoS rewards capital — both require real cost and real risk.

And no, validators aren’t just “locking up coins.” They still need hardware, a stable internet connection, and must run validating software to propose and attest blocks. The stake backs that work with economic skin in the game, and slashing wipes out anyone who tries to cheat.

Calling this a “shitcoin yield” completely misses the point. The mechanism is built into the protocol and is what keeps the network secure. You don’t have to like ETH, but pretending it’s a scam while Bitcoin relies on the same fundamentals is flat-out dishonest.

[gib]

Eric Trump LOVES Bitcoin!

i=9ypGfLAvIqZV6w2X

[gib]

You keep calling ETH’s yield “fake,” but it’s the same thing as Bitcoin’s block rewards — native issuance and fees paid to secure the network. If that’s a Ponzi, then Bitcoin is too. The only difference is that PoW rewards electricity, while PoS rewards capital — both require real cost and real risk.

And no, validators aren’t just “locking up coins.” They still need hardware, a stable internet connection, and must run validating software to propose and attest blocks. The stake backs that work with economic skin in the game, and slashing wipes out anyone who tries to cheat.

Calling this a “shitcoin yield” completely misses the point. The mechanism is built into the protocol and is what keeps the network secure. You don’t have to like ETH, but pretending it’s a scam while Bitcoin relies on the same fundamentals is flat-out dishonest.

Eth staking rewards are primarily generated through protocol issuance. So, new ETH minted by the network, not from any actual economic activity (eg transaction fees). This is the misleading part. It's like a company paying a "yield" totally out of proportion with what its profits are. The "trick" here, and you surely know it (but many were conned by this) is that you're earning ETH, but at the same time the total supply of ETH is increasing. So, the value of your yield is simply diluted by the value of the new issuance. So, people think they are getting a 4% yield, but if the value of each eth unit gets diluted by 4%, you actually get nothing. This con works in the short term - in the long term, the market figures such trickery out and reflects in price accordingly. Its might like the US Govt issuing more USD (thus devaluing it), but then paying a "yield" on it via Treasury bonds. Works for a little while, but eventually collapses. And it is of course exactly such a scheme that BTC was exactly designed to protect against.

See u at 125!

[obsidian]

Eth staking rewards are primarily generated through protocol issuance. So, new ETH minted by the network, not from any actual economic activity (eg transaction fees). This is the misleading part. It's like a company paying a "yield" totally out of proportion with what its profits are. The "trick" here, and you surely know it (but many were conned by this) is that you're earning ETH, but at the same time the total supply of ETH is increasing. So, the value of your yield is simply diluted by the value of the new issuance. So, people think they are getting a 4% yield, but if the value of each eth unit gets diluted by 4%, you actually get nothing. This con works in the short term - in the long term, the market figures such trickery out and reflects in price accordingly. Its might like the US Govt issuing more USD (thus devaluing it), but then paying a "yield" on it via Treasury bonds. Works for a little while, but eventually collapses. And it is of course exactly such a scheme that BTC was exactly designed to protect against.

See u at 125!

You’re describing Bitcoin, not ETH.

Bitcoin currently pays out about 450 BTC/day to miners, of which only ~3 BTC/day comes from fees — that’s 0.6% of miner rewards funded by actual network usage. The rest is newly issued Bitcoin — exactly the “dilution” you’re railing against.

https://studio.glassnode.com/charts/fees.VolumeSum?a=BTC&s=1751578780&u=1759354780&zoom=90

Ethereum, meanwhile, pays around 2,500 ETH/day in staking rewards, and about 300 ETH/day of that comes from fees — roughly 12%. That’s 18× more usage-based yield than Bitcoin.

https://studio.glassnode.com/charts/fees.VolumeSum?a=ETH&s=1751578780&u=1759354780&zoom=90

So if ETH’s staking rewards are a “con” because some come from issuance, then Bitcoin mining rewards are the exact same con, only with far less real economic activity behind them. You don’t get to call one dilution and the other sound money — unless the goal is just to mislead people.

“See you at 125” is cute — but you might want to check who’s actually funding network security before you gloat. Because by your own definition, Bitcoin’s the bigger scam.

[obsidian]

Eric Trump LOVES Bitcoin!

i=9ypGfLAvIqZV6w2X

He thinks Bitcoin settles in a second — enough said. Eric Trump likes ETH? “Irrelevant.” Eric Trump likes BTC? “Huge news!” 🤡 Pick a lane.

[obsidian]

You’re describing Bitcoin, not ETH.

Bitcoin currently pays out about 450 BTC/day to miners, of which only ~3 BTC/day comes from fees — that’s 0.6% of miner rewards funded by actual network usage. The rest is newly issued Bitcoin — exactly the “dilution” you’re railing against.

https://studio.glassnode.com/charts/fees.VolumeSum?a=BTC&s=1751578780&u=1759354780&zoom=90

Ethereum, meanwhile, pays around 2,500 ETH/day in staking rewards, and about 300 ETH/day of that comes from fees — roughly 12%. That’s 18× more usage-based yield than Bitcoin.

https://studio.glassnode.com/charts/fees.VolumeSum?a=ETH&s=1751578780&u=1759354780&zoom=90

So if ETH’s staking rewards are a “con” because some come from issuance, then Bitcoin mining rewards are the exact same con, only with far less real economic activity behind them. You don’t get to call one dilution and the other sound money — unless the goal is just to mislead people.

“See you at 125” is cute — but you might want to check who’s actually funding network security before you gloat. Because by your own definition, Bitcoin’s the bigger scam.

On July 17th, over 1,200 ETH in staking rewards came purely from transaction fees — nearly half of the newly issued supply that day.

[Griffith]

You keep calling ETH’s yield “fake,” but it’s the same thing as Bitcoin’s block rewards — native issuance and fees paid to secure the network. If that’s a Ponzi, then Bitcoin is too. The only difference is that PoW rewards electricity, while PoS rewards capital — both require real cost and real risk.

And no, validators aren’t just “locking up coins.” They still need hardware, a stable internet connection, and must run validating software to propose and attest blocks. The stake backs that work with economic skin in the game, and slashing wipes out anyone who tries to cheat.

Calling this a “shitcoin yield” completely misses the point. The mechanism is built into the protocol and is what keeps the network secure. You don’t have to like ETH, but pretending it’s a scam while Bitcoin relies on the same fundamentals is flat-out dishonest.

Yes, the rewards provide an incentive for users to stake their ETH in order to secure the network, similar to the way BTC rewards miners as an incentive to secure its own network.

ETH burns tokens in transactions and actually has lower net issuance than BTC, resulting in lower inflation and is even deflationary at times.

As more transactions occur, more ETH gets burned, further reducing available supply. More stablecoins being used also means more ETH being burned.

[obsidian]

https://x.com/Louis_Tellier/status/1973692818452337125

🚨 Just in: After its blockchain pilot, @swiftcommunity has introduced a tokenization platform by deploying a tokenized bond on Sepolia, Ethereum’s testnet👇

The live demo took place during Sibos, the event organized by Swift in Frankfurt, Germany 🇩🇪 , running since Monday and concluding today.

The showcase involved the tokenization of a eurobond, just days after Clearstream and Euroclear announced they had developed a standard to digitize the eurobond market.

The tokenized asset was deployed on Sepolia, Ethereum’s testnet.

Transaction address: 0x9912AC4dfd70E220038D59 AdEC35f1D89E396E95

Even though the demo took place on a testnet, it is technically already fully possible on live blockchains.

🎯 How does the platform work?

→ It enables the definition of a common standard for any tokenized asset (e.g., eurobond, stablecoin, fund).

→ Each standard is linked to an implementation through modular smart contracts compatible with all EVM blockchains (L1, L2).

→ Once defined, the smart contracts can be deployed onchain. The platform then manages the full lifecycle of the asset (issuance, secondary trading, delivery-versus-payment settlement) in order to meet the required compliance levels.

→ Issuance is designed to be compatible with existing financial standards (ISO 20022, ICMA) as well as traditional infrastructures (custodians, dealers, ICSD).

🎯 Even more interesting…

→ Participants (banks, fintechs, Web3 developers) can contribute their own modules to a community hub. These modules (audited and standardized) can then be reused by other institutions.

“For now, the platform is limited to partners, but it will soon open up to all institutions,” we were told on site.

👉 The core technology was developed by
@FeverTokens
, a French 🇫🇷 start-up specializing in smart contract libraries.

📺 Video of the demo here👇

https://x.com/Louis_Tellier/status/1973692818452337125

[obsidian]

BITCOIN BLOCK REWARDS

3.125000 BTC (2024) 1

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1.562500 BTC (2028) 1/2

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0.781250 BTC (2032) 1/4

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0.390625 BTC (2036) 1/8

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0.195313 BTC (2040) 1/16

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0.097656 BTC (2044) 1/32

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0.048828 BTC (2048) 1/64

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0.024414 BTC (2052) 1/128

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0.012207 BTC (2056) 1/256

|

[gib]

You’re describing Bitcoin, not ETH.

Bitcoin currently pays out about 450 BTC/day to miners, of which only ~3 BTC/day comes from fees — that’s 0.6% of miner rewards funded by actual network usage. The rest is newly issued Bitcoin — exactly the “dilution” you’re railing against.

https://studio.glassnode.com/charts/fees.VolumeSum?a=BTC&s=1751578780&u=1759354780&zoom=90

Ethereum, meanwhile, pays around 2,500 ETH/day in staking rewards, and about 300 ETH/day of that comes from fees — roughly 12%. That’s 18× more usage-based yield than Bitcoin.

https://studio.glassnode.com/charts/fees.VolumeSum?a=ETH&s=1751578780&u=1759354780&zoom=90

So if ETH’s staking rewards are a “con” because some come from issuance, then Bitcoin mining rewards are the exact same con, only with far less real economic activity behind them. You don’t get to call one dilution and the other sound money — unless the goal is just to mislead people.

“See you at 125” is cute — but you might want to check who’s actually funding network security before you gloat. Because by your own definition, Bitcoin’s the bigger scam.

Eth's annual revenue is around 2.5B a year. At a market cap of around 550B, that gives it an eye-watering PE ratio of around 220. That produces a true yield of around 0.45%. Not great, although arguably acceptable for a tech company valuation with massive future potential (which really is the calculation you need to make here - the long term potential - not of use, but of revenue accruing from that use). A 4% "staking yield" is clearly dilutive on this metric, but, that does not mean that Eth revenues may not grow over time. I'm not denying that, just calling out the bullshit.

PS - BTC nearly at .125M. Once there, I can officially jump into the frey and address some of the other falsities perpetuated here in my absence...