Wow, what's happening with bitcoin? Down 10% in the last few minutes. Maybe this is the unemployment numbers finally being factored into the market??pic.twitter.com/3DHM1EDpCF
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I work for the Internet, at @stripe, mostly on accelerating startups. Opinions here are my own.
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Wow, what's happening with bitcoin? Down 10% in the last few minutes. Maybe this is the unemployment numbers finally being factored into the market??pic.twitter.com/3DHM1EDpCF
Jared Seehafer Retweeted Nouriel Roubini
Jared Seehafer added,
Is there data behind that view, or is it speculation?
There was a report last year made either to or from the SEC that illustrated how 95% of volume is fake.
If you want to go super deep, follow @davidgerard.
@patio11 has also written/tweeted at some length about how Tether (and by extension BTC trading) is a scam.
Bitwise's ETF application told the SEC that 95% of volume was obviously fake, because the numbers weren't statistically plausible. They thought they had a way of telling the "real" 5%. The SEC knocked back their applicaiton on the grounds that the market was 95% fake.
And that they didn't have a surveillance-sharing agreement with a well-operating regulated market of substantial size, which is one of those poindextery clarifications that might eventually make a difference.
I still would love to understand how so many people in our field keep working on "crypto" things. I mean outside of scams, what has been or can be produced by it...
“Make a lot of money” has infinite product market fit.
If that was the explanation, we would have been dominated by far more scams out there.
The infinity gets divided by zero if you go to jail, but it’s hard to tell that to numerator people
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