Bounced off of $150,

Unclear what happens next

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satoshi nakamoto revealed

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“Uptober is back “

“ Donald Pump will save us “

“ Elon will buy USA and change the USA logo to Bitcoin “

“ Q4 is very bullish “

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Bit of a hard reversal.

Back to $147

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Major reversal indeed.

Crashing hard.

Crypto always faking you out like that these days.

Hard pump in one direction before reversing hard in the totally opposite direction.

Feels like it didn’t used to be like that before the institutional money arrived.

Thanks Blackrock.

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Uptobear starting to look kinda bad

Wouldn’t be surprised if we hit $120 again real soon

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Vitalik dumping Ethereum $MOODENG

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nvm

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$64k $BTC

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So yeah,

market gods have decided to lower the MVRV a little more more,

with these constant big fakeouts separating lots of amateurs from their coins, dropping the mvrv even more

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🚨 NOW: FTX bankruptcy plan approved by judge, customers to be paid out in cash

(1) Repaying customers in cash plus interest, based on November 2022 value of their crypto

= right at the BOTTOM, when $BTC was $22k and $SOL was $40

= Bad for FTX clients, irrelevant for crypto?

Irrelevant for crypto because they were always going to dump their crypto for cash in bankruptsy anyway, and in fact already did all of that dumping earlier this year via auctions that vest out over 4 years?

(2) FTX is dumping their holdings in woke AI company Anthropic

= Hilarious. But, apparently this deal already completed in June 2024.

Can see why this could’ve been an excuse for the market to take a mini-dump, but TBH looks like non-news, all that FTX crypto was already dumped long ago

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Nick Szabo overtakes Len Sassaman as frontrunner for HBO's Satoshi reveal on Polymarket

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Ethereum is essentially the Titan sub of crypto,

As I’ve said for many years.

Remember, Satoshi easily had the technical ability to give Bitcoin arbitrary smart contracts,

BUT HE INTENTIONALLY CHOSE NOT TO,

INTENTIONALLY CRIPPLED ARBITRARY SMART CONTRACT ABILITY,

IN THE NAME OF SECURITY

Because he couldn’t figure out how to make arbitrary smart contracts secure, in the same sense that the built-in bitcoin accounting “dapp” is secure

EVERYONE in early Bitcoin, who’s being honest, knew this as well, it was blatantly obvious

Then Ethereum came along…

AND JUST REMOVED THAT SECURITY PROTECTION,

WITHOUT SOLVING THE SECURITY PROBLEM AT ALL

Ethereum was always a massive blatant scam,

in the same sense as any other engineering disaster that eventually arose from someone ignoring safety restrictions that had been put in place for good reason, while putting zero effort into solving the problems those safety mechanisms were put in place for

- Titan Sub: Everyone knew very well carbon fiber subs were a horrible idea prone to sudden catastrophic failure. Dude just ignored that restriction while doing nothing to solve the problem, then boom.

- 2008 financial crisis: Many financial restrictions, which were well known to be restrictions that should be observed in order to avoid a blow-up, prior to 2008, suddenly the industry stopped observing. Then boom.

Etc.

Countless examples of WELL-KNOWN saftey restrictions, whose role in preventing disaster was well understood —

and then one day an industry just decides to stop observing those obviously sensible restrictions,

and then things work well for a while,

and then boom.

Ethereum was exactly that.

0% innovation.

100% just removing a very well-established safety restriction, without any serious attempt at all of solving safety problems it was in place to protect against,

And then boom.

Ethereum will eventually be remembered in the same way that the retarded instruments of the financial crisis was, or the retardation of the Titan sub was

— the innovation was always obviously lies,

= Reality is Ethereum just tossed aside critical safety restrictions, lied about having solved the underlying safety problems that those were in place for, when really the had never even seriously tried to, then boom, inevitable disaster.

(Solana, FWIW, can partially be seen as much more restrictively extending what bitcoin could do — Essentially all Solana tokens that are tradable on the major dexes are just instances of 2 smart contracts! Incredibly restrictive. BUT, solana does some bad things by eliminating PoW, so as a whole a mixed bag, BUT in the area of programatic restriction and enabling automated verification of security of tokens, Solana’s huge step backward with restrictions here actually is huge step forward for security at the dapp layer vs Ethereum.)

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