A Coldcard firmware flaw let hackers drain $70 million in Bitcoin in 41 minutes, with losses now topping $88 million

[Puiu]

From the US Federal Reserve:

"Bitcoin is a digital currency ... Bitcoin is not a physical coin that you keep in your purse or wallet. Rather, it is a virtual currency...."

https://www.stlouisfed.org/publications/page-one-economics/2018/03/01/bitcoin-money-or-financial-investment?edu-embed=1

You forget you were the one who brought up ATMs. The point stands: digital currency in a bank account balance is often no easier nor quicker to convert into physical cash than is Bitcoin or any other crypto currency.


Romania does an excellent job of insulting itself.

You have proven again that you can't read.
From your link: ~Weighing in on the issue, former Federal Reserve Chair Janet Yellen said that Bitcoin is “not a stable source of store of value, and it doesn’t constitute legal tender”; in her judgement, Bitcoin “is a highly speculative asset.”~

And here's the actual US Federal Reserve official document with that quote: https://www.federalreserve.gov/mediacenter/files/FOMCpresconf20171213.pdf

FYI the author's views on it are not the view of the US Federal Reserve, he's position is: assistant vice president for Economic Education at the St. Louis Fed. So there's another lie you made. I would say the words of the chair of the FED and the United States Secretary of the Treasury holds more value, wouldn't you agree?

And going back to 2017-2018 is weird, here is probably the most recent quote from somebody from the FED:

https://www.marketwatch.com/story/feds-powell-says-bitcoin-is-more-of-a-substitute-for-gold-than-the-dollar-11616424786

~"They’re more of an asset for speculation," Powell said, during a webinar sponsored by the Bank of International Settlements. "It is essentially a substitute for gold rather than the dollar"~ Powell, 2024 (and yes, the Bank of International Settlements also considers it a crypto asset)

And then you have the IMF also calling it a "crypto asset"

https://www.imf.org/en/publications/gfsr/issues/2021/10/12/global-financial-stability-report-october-2021

Congrats on still ignoring the fact that you are essentially calling pedo trump's rug pull crypto scam a "currency". That's how low maga go to defend what trump is doing.

 

[Endymio]

You have proven again that you can't read.
From your link: ~Weighing in on the issue, former Federal Reserve Chair Janet Yellen said that Bitcoin is “not a stable source of store of value, and it doesn’t constitute legal tender”

Quite pathetic. Plenty of currencies -- such as those in hyperinflationary countries -- aren't a "stable store of value". They're still currencies. In fact, during Venezuela's hyperinflation crisis in 2018, many citizens moved to crypto currencies because they were more stable than Venezuela's own traditional currency.

And currencies like the badly struggling Romanian leu aren't legal tender in the US nor any other developed nation in the world ... it's still a currency.

Admit you were wrong and move on. You'll embarrass yourself less. Cryto-currencies are currencies. It's right there in the name.

here is probably the most recent quote from somebody from the FED:
~"They’re more of an asset for speculation," Powell said, during a webinar sponsored by the Bank of International Settlements. "It is essentially a substitute for gold rather than the dollar"

You failed to read your own link. Powell claims crypto currencies lack features that make them useful currencies .. .a qualifier necessary only because they are, indeed, currencies. Just at present not terribly useful in that role.

Congrats on still ignoring the fact that you are essentially calling pedo trump's rug pull crypto scam

Again you pollute every thread with your pedophilia fantasies. Luckily you're in Romania, where child trafficking remains a primary driver of the national economy.

 

[Mark Fuller]

You have proven again that you can't read.
From your link: ~Weighing in on the issue, former Federal Reserve Chair Janet Yellen said that Bitcoin is “not a stable source of store of value, and it doesn’t constitute legal tender”; in her judgement, Bitcoin “is a highly speculative asset.”~

And here's the actual US Federal Reserve official document with that quote: https://www.federalreserve.gov/mediacenter/files/FOMCpresconf20171213.pdf

FYI the author's views on it are not the view of the US Federal Reserve, he's position is: assistant vice president for Economic Education at the St. Louis Fed. So there's another lie you made. I would say the words of the chair of the FED and the United States Secretary of the Treasury holds more value, wouldn't you agree?

And going back to 2017-2018 is weird, here is probably the most recent quote from somebody from the FED:

https://www.marketwatch.com/story/feds-powell-says-bitcoin-is-more-of-a-substitute-for-gold-than-the-dollar-11616424786

~"They’re more of an asset for speculation," Powell said, during a webinar sponsored by the Bank of International Settlements. "It is essentially a substitute for gold rather than the dollar"~ Powell, 2024 (and yes, the Bank of International Settlements also considers it a crypto asset)

And then you have the IMF also calling it a "crypto asset"

https://www.imf.org/en/publications/gfsr/issues/2021/10/12/global-financial-stability-report-october-2021

Congrats on still ignoring the fact that you are essentially calling pedo trump's rug pull crypto scam a "currency". That's how low maga go to defend what trump is doing.

This is quite pathetic. Plenty of currencies -- such as those in hyperinflationary countries -- aren't a "stable store of value". They're still currencies. And currencies like the badly struggling Romanian leu aren't legal tender in the US nor any other developed nation in the world ... it's still a currency.

Just admit you were wrong and move on. You'll embarrass yourself less. Cryto-currencies are currencies. It's right there in the name.



You failed to read your own link. Powell claims crypto currencies lack features that make them useful currencies .. .a qualifier necessary only because they are, indeed, currencies. Just at present not terribly useful in that role.


Once again: 100% of your posts reference your pedophilia fantasies. Luckily you're in Romania, where child trafficking remains a core driver of the national economy.

Whatever side you decide to take you have to admit specutation does not determine the acutal future but whatever happens as the actual facts themselves. I actually think the entire world monetary system is in for big trouble whatever kind of currency you have \whether digital or virtual or paper. I'm afraid the only winners will be the ones who have all of the gold, silver, platinum and whatever else that is physical matter of any intrinsic real value.

 

[Puiu]

Quite pathetic. Plenty of currencies -- such as those in hyperinflationary countries -- aren't a "stable store of value". They're still currencies. In fact, during Venezuela's hyperinflation crisis in 2018, many citizens moved to crypto currencies because they were more stable than Venezuela's own traditional currency.

And currencies like the badly struggling Romanian leu aren't legal tender in the US nor any other developed nation in the world ... it's still a currency.

Admit you were wrong and move on. You'll embarrass yourself less. Cryto-currencies are currencies. It's right there in the name.


You failed to read your own link. Powell claims crypto currencies lack features that make them useful currencies .. .a qualifier necessary only because they are, indeed, currencies. Just at present not terribly useful in that role.


Again you pollute every thread with your pedophilia fantasies. Luckily you're in Romania, where child trafficking remains a primary driver of the national economy.

In the end all you did was show to the world again that you are running away from reality, ignoring facts and even lying.

WTF does "Venezuela" have to do with crypto assets? It makes zero sense to bring it up for discussion. Your lack of common sense is baffling. Yeah, some bought crypto assets in the same way people buy gold during hyperinflation. Which makes perfect sense. They didn't buy "bitcoin currency", they bought something that they hoped will retain its value, or go up over time, like gold or real estate.

The number of people who actually could buy crypt in Venezuela is insignificant. There were large transactions from people who had a lot of crypto, but the vast majority didn't touch it. FYI 56% of retail transactions moved to the us dollar or the euro.

How do you embarrass yourself like this time and time again dude? It's just too easy to disprove you and, because you refuse to say you are wrong, you bring up some other strawman argument and embarrass yourself even further.

You just brushed aside the fact that you tried to lie to me again like with the FED quote, only to find out that it wasn't from whom you were saying. Do I need to do your research for you every single time?

You are also ignoring what every single major institution is saying... is it because you don't like facts like every maga in existence?

And the cherry on top of everything: "Romanian leu aren't legal tender in the US" - as if the US is the center of the world and only that counts. this statement is meme worthy of being posted on r/usdefaultism

Continue dude supporting pedophiles like trump and the literal fraud he's doing. You made it clear to everybody here that you DO NOT CARE THAT HE STOLE BILLIONS from his crypto rug pulls. The only reason you are pushing this "currency" story so hard is because Donald Trump is heavily invested in bitcoin, which he bought using the billions he made from stealing while he was president. And tell us more about how trump and his goons defended Andrew Tate, it was just too funny seeing you not knowing he was american pedophile.

 

[Mark Fuller]

In the end all you did was show to the world again that you are running away from reality, ignoring facts and even lying.

WTF does "Venezuela" have to do with crypto assets? It makes zero sense to bring it up for discussion. Your lack of common sense is baffling. Yeah, some bought crypto assets in the same way people buy gold during hyperinflation. Which makes perfect sense. They didn't buy "bitcoin currency", they bought something that they hoped will retain its value, or go up over time, like gold or real estate.

The number of people who actually could buy crypt in Venezuela is insignificant. There were large transactions from people who had a lot of crypto, but the vast majority didn't touch it. FYI 56% of retail transactions moved to the us dollar or the euro.

How do you embarrass yourself like this time and time again dude? It's just too easy to disprove you and, because you refuse to say you are wrong, you bring up some other strawman argument and embarrass yourself even further.

You just brushed aside the fact that you tried to lie to me again like with the FED quote, only to find out that it wasn't from whom you were saying. Do I need to do your research for you every single time?

You are also ignoring what every single major institution is saying... is it because you don't like facts like every maga in existence?

And the cherry on top of everything: "Romanian leu aren't legal tender in the US" - as if the US is the center of the world and only that counts. this statement is meme worthy of being posted on r/usdefaultism

Continue dude supporting pedophiles like trump and the literal fraud he's doing. You made it clear to everybody here that you DO NOT CARE THAT HE STOLE BILLIONS from his crypto rug pulls. The only reason you are pushing this "currency" story so hard is because Donald Trump is heavily invested in bitcoin, which he bought using the billions he made from stealing while he was president. And tell us more about how trump and his goons defended Andrew Tate, it was just too funny seeing you not knowing he was american pedophile.

I will support no one who will puposely misrepresent the facts. Like what the big deal about the strait of Hormuz really is and the one before Trump and the big deal about Covid. I don't remember watching millions of funeral precessions that would have ocurred during the pandemic that supposedly killed so many people and surely some of them would have been high level dignatires like governors, celebrtities prelates and priests. I don't remember hearing about covid causing so many of their deaths (a ruse to slow the econmy down to a point so as to conserve petroleum, I remember the TV report about ships anchored offshore waiting their turn to get into port). And what is Putin really doing pootin' around, I tell you what I think, it's all about oil. The world poiticians are running a ruse to cover the fact that there is not so much of it left. It built this world and still controls about 70% of the world's production resources. Guess where what of it is left is that you have been hearing about in the news lately? So what does my tirade about oil have to do with cryptocurrecy? I bet if Pulu will read between the lines in his own quote where I boldfaced and highlighted he just might figure that out. Venuzuela, I think, has also been a producer of oil. How long do ya'll think mama can take care ot the eight billion people on this planet when every one of them is Hell bent of getting whatever he can get his hands on whether his needs have already been met or not. I'm afraid I keep telling a tale about the future of your world that no one wants to believe or hear.

 

[Mark Fuller]

I will support no one who will puposely misrepresent the facts. Like what the big deal about the strait of Hormuz really is and the one before Trump and the big deal about Covid. I don't remember watching millions of funeral precessions that would have ocurred during the pandemic that supposedly killed so many people and surely some of them would have been high level dignatires like governors, celebrtities prelates and priests. I don't remember hearing about covid causing so many of their deaths. And what is Putin really doing pootin' around; I tell you what I think, it's all about oil. The world poiticians are running a ruse to cover the fact that there is not so much of it left. It built this world and controls about 70% of the world's production resources. Guess where what of it is left is that you have been hearing about in the news lately?

deleted

 

[Puiu]

I will support no one who will puposely misrepresent the facts. Like what the big deal about the strait of Hormuz really is and the one before Trump and the big deal about Covid. I don't remember watching millions of funeral precessions that would have ocurred during the pandemic that supposedly killed so many people and surely some of them would have been high level dignatires like governors, celebrtities prelates and priests. I don't remember hearing about covid causing so many of their deaths (a ruse to slow the econmy down to a point so as to conserve petroleum, I remember the TV report about ships anchored offshore waiting their turn to get into port). And what is Putin really doing pootin' around, I tell you what I think, it's all about oil. The world poiticians are running a ruse to cover the fact that there is not so much of it left. It built this world and still controls about 70% of the world's production resources. Guess where what of it is left is that you have been hearing about in the news lately? So what does my tirade about oil have to do with cryptocurrecy? I bet if Pulu will read between the lines in his own quote where I boldfaced and highlighted he just might figure that out. Venuzuela, I think, has also been a producer of oil. How long do ya'll think mama can take care ot the eight billion people on this planet when every one of them is Hell bent of getting whatever he can get his hands on whether his needs have already been met or not. I'm afraid I keep telling a tale about the future of your world that no one wants to believe or hear.

This is just for those who are covid deniers, not directed at you.

List of important/well known people that died due to covid or complications from getting covid in the US: Colin Powell, Herman Cain, John Prine, Charley Pride, David Dinkins, Larry King and the list goes on and on and on and on and on and on and on

If you want a bigger list, then here you go:

https://en.wikipedia.org/wiki/List_of_deaths_due_to_the_COVID-19_pandemic

I do agree about Venuzuela and everything you said about oil. Trump is obsessed with oil.

"I'm afraid I keep telling a tale about the future of your world that no one wants to believe or hear." - greed will be our downfall. The rich get richer and the poor are not even given scraps. And as people's lives become more miserable, hate will grow and society will break down. A broken society full of hate is easier to control with slogans from lying extremists turning into "battle cries" and everybody who isn't with them is an "enemy" (hmm... this sounds very familiar, where have I heard this word "enemy" before? hint hint, nudge nudge ).