that drop was one hour after the latest billion tethers

the new narrative is apparently that the pump is in 90 days when financial advisors are finally ready to push bitcoin ETFs on their customers (for some reason)

ETFs put bitcoin on steroids!! y’know, asthmatic with shrunken balls

the bitcoin market is fake and in tethers, but the retail securities market is real and in dollars

my brother in Satoshi, you are the exit liquidity

  • swlabr@awful.systemsEnglish
    0·
    11 months ago

    My intuition (and the sneer I wrote) is that basically crypto has historically been a free market of grift and fraud. Any attempts to launder or legitimise crypto trading via regulation and policing is just gonna drive the non-believing profiteers away. Is that anywhere close to the truth?

    • gerikson@awful.systemsEnglish
      1·
      11 months ago

      Yeah, that’s my take too.

      Crypto has a “base utility” for illegal activity. Say the price for BTC based on that is 10% of the current inflated price. Integrating BTC into the traditional financial market would in the near term drive down the price closer to the “base price”, as well as closing off a number of avenues to add “dirty” money into the system.