Crypto Schizo

This is sliding under the radar, so I need to break the news. The Monero blockchain just experienced a deliberate 6 block reorg. Some say that's the result of a successful 51% attack. That's when an attacker can write whatever he wants to the blockchain, destroying the purpose of the cryptocurrency. Bad news for the smaller Proof of Work blockchains. As bitcoin mining becomes less lucrative, the hardware will be repurposed to destroy other non-proof of stake chains. Bitcoin itself is expected to see a similar crisis in a decade, unless they fork to increase the coin limit, or implement "tail emissions" like Monero. That might still not be enough long-term. https://xcancel.com/P3b7_/status/1955173413992984988#m

LMFAO

Freedom is an illusion. The world didn't end your just under a new terms of service .

"In a similar manner to how privately-issued “wildcat” currencies were replaced by government-backed central currencies in the late-1800s, Central Bank Digital Currencies (CBDC) will likely need to replace stablecoins..." https://www.cato.org/blog/treasury-advisory-committee-calls-cbdcs-replace-stablecoins

🇺🇸 🇯🇵 🏦 From Nomura Charlie McElligott: Markets have largely priced in a Trump victory and Wall Street seems to be eyeing a full Republican sweep next week. In the event of a Harris victory and a gridlocked congress, traders are positioned "Risk Reversal" across asset classes sending bonds higher while sending interest rates, deregulation themes such as bank stocks ($XLF), gold, and bitcoin lower. In the unlikely event of a full Democratic sweep of both the Senate, the House, and the Presidency, serious acute downside risks for the broader stock market is likely given negative growth implications of re-regulation and corporate tax hikes impact on earnings, especially after markets have already rallied considerably into the election on expectations of tax cuts. 🗒 In simple terms, if Harris wins but congress is R or split, bonds ($TLT) should rally while bank stocks ($XLF) gold, and bitcoin will likely see downside while the broader market ($SPY) will likely still rally into the end of the year ❗️ However, if Democrats sweep all of congress and the presidency, expect a potential -7% to -10% in the broader market ($SPY) over 1 to 3 months after the election Overall, market participants are "over-hedged" given recent volatility over the past three months. In the absence of a Democratic sweep, hedge funds are going to FOMO into higher net exposure through to the year's end to make up for the cost of current downside hedging and underexposure. @CIG_Telegram Paper

🇺🇸❌💵💵 — CEO of Tether, Paolo Ardoino, denies WSJ accusations of US DOJ launching investigations against him or his company:

As we told to WSJ there is no indication that Tether is under investigation. WSJ is regurgitating old noise. Full stop.

🔗 Paolo Ardoino 🤖🍐 (@paoloardoino)

This annoys and haunts me.

NEW: 🟠 Ian Carroll gets to the core of why Bitcoin is the only viable option 💪 "Crypto" is a grift at best and an intentionally subversive movement at worst, almost like a DDOS attack on Bitcoin. Epic convo he had with Robert Breedlove on the What is Money Show podcast.

You’re working for free…

🟠 Best September of all-time for Bitcoin 📈

FYI: 🟠 MicroStrategy has purchased Bitcoin 40 times in four years, investing nearly $10 billion 🔥 That's dollar cost averaging at its finest.

Thats about 330% inflation