Filecoin Founder Accuses Justin Sun of ... - news.bitcoin.com

Is Justin Sun a Scumbag or Genius? // Bullish News for Bitcoin and Cardano | Blockchained.news Online

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Warren Buffet was gifted a Samsung phone with a single bitcoin and trx.. gifted by Justin Sun.. yes the dinner actually happened and made Bloomberg news!

Most people thought JS broke contractual agreements by promoting crypto but WB still had the dinner.
Convincing WB of the pros of crypto is a good thing for every single crypto community!
submitted by provoko to CryptoCurrency [link] [comments]

🔸 New Listing🔸 SUN world premiere on BKEX🚀 🚀 - Trading pair: SUN/USDT - Listing time: 12:30 on Sept 11 (UTC+8) 🔹 🔹 More details: https://bkex.zendesk.com/hc/en-us/articles/360055131053 #Bitcoin #ETH #BKK #Blockchain

🔸 New Listing🔸 SUN world premiere on BKEX🚀 🚀 - Trading pair: SUN/USDT - Listing time: 12:30 on Sept 11 (UTC+8) 🔹 🔹 More details: https://bkex.zendesk.com/hc/en-us/articles/360055131053 #Bitcoin #ETH #BKK #Blockchain submitted by bkex-exchange to BKEXGlobal [link] [comments]

🛑 Hackers utilizando Deepfake de Justin Sun, Análise aponta queda do Bitcoin e mais! Bitcoin News - Dicas sobre Bitcoin - mais rápido dinheiro

🛑 Hackers utilizando Deepfake de Justin Sun, Análise aponta queda do Bitcoin e mais! Bitcoin News - Dicas sobre Bitcoin - mais rápido dinheiro submitted by infocryptocoins to CertificadoDigital [link] [comments]

Bitcoin Critic Warren Buffett Meets Justin Sun | Tron Supply Issue? Coronavirus And China! | Blockchained.news

Bitcoin Critic Warren Buffett Meets Justin Sun | Tron Supply Issue? Coronavirus And China! | Blockchained.news submitted by Thornsb to BLOCKCHAINEDNews [link] [comments]

Warren Buffet was gifted a Samsung phone with a single bitcoin and trx.. gifted by Justin Sun.. yes the dinner actually happened and made Bloomberg news!

submitted by scgco to GGCrypto [link] [comments]

BITCOIN BULLISH OVER $9000 | Tron and Justin Sun Sued | DigiByte on iOS | Crypto News | Blockchained.news

BITCOIN BULLISH OVER $9000 | Tron and Justin Sun Sued | DigiByte on iOS | Crypto News | Blockchained.news submitted by Thornsb to BLOCKCHAINEDNews [link] [comments]

$1 BILLION IN BITCOIN moved! Finance Managers ADD BTC to Portfolio | Justin Sun of Tron Announcement | Blockchained.news

$1 BILLION IN BITCOIN moved! Finance Managers ADD BTC to Portfolio | Justin Sun of Tron Announcement | Blockchained.news submitted by Thornsb to BLOCKCHAINEDNews [link] [comments]

Altcoin News: Cardano Founder Criticized Bitcoin SV, EOS, and Justin Sun

Altcoin News: Cardano Founder Criticized Bitcoin SV, EOS, and Justin Sun submitted by Altcoin-Magazine to cardano [link] [comments]

Tron News Today: Justin Sun Calls Binance Coin (BNB) “New Bitcoin”

Tron News Today: Justin Sun Calls Binance Coin (BNB) “New Bitcoin” submitted by Crypto_guide to TRXTrading [link] [comments]

07-25 09:53 - 'Justin Sun Apologized for Overmarketing after Finding out He’s under Border Control, with apology letter provided' (news.8btc.com) by /u/eviade8btc removed from /r/Bitcoin within 88-98min

Justin Sun Apologized for Overmarketing after Finding out He’s under Border Control, with apology letter provided
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07-24 10:43 - 'The Longest Day for Tron’s Justin Sun, Where is He and Where TRX to Go?' (news.8btc.com) by /u/eviade8btc removed from /r/Bitcoin within 64-74min

The Longest Day for Tron’s Justin Sun, Where is He and Where TRX to Go?
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Author: eviade8btc
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Bloomberg's Latest Report Says Altcoins Won't See the Sun Until Bitcoin Reaches a New ATH

Bloomberg's Latest Report Says Altcoins Won't See the Sun Until Bitcoin Reaches a New ATH submitted by RossPeili to Bitcoin [link] [comments]

Altcoin News: Cardano Founder Criticized Bitcoin SV, EOS, and Justin Sun

Altcoin News: Cardano Founder Criticized Bitcoin SV, EOS, and Justin Sun submitted by Altcoin-Magazine to Crypto_Currency_News [link] [comments]

Altcoin News: Cardano Founder Criticized Bitcoin SV, EOS, and Justin Sun

Altcoin News: Cardano Founder Criticized Bitcoin SV, EOS, and Justin Sun submitted by cryptoallbot to cryptoall [link] [comments]

Altcoin News: Cardano Founder Criticized Bitcoin SV, EOS, and Justin Sun

Altcoin News: Cardano Founder Criticized Bitcoin SV, EOS, and Justin Sun submitted by Altcoin-Magazine to CryptoCurrencies [link] [comments]

Altcoin News: Cardano Founder Criticized Bitcoin SV, EOS, and Justin Sun

Altcoin News: Cardano Founder Criticized Bitcoin SV, EOS, and Justin Sun submitted by Altcoin-Magazine to CryptoCurrencyTrading [link] [comments]

Ahead of June 1, Justin Sun Announces BitTorrent (BTT) & Tron (TRX)’s Latest Achievement - Today's Gazette - Cryptocurrency, Bitcoin, Ripple, Tron, Verge, Cardano News

Ahead of June 1, Justin Sun Announces BitTorrent (BTT) & Tron (TRX)’s Latest Achievement - Today's Gazette - Cryptocurrency, Bitcoin, Ripple, Tron, Verge, Cardano News submitted by jbabrams2 to BTTCoin [link] [comments]

Putting $400M of Bitcoin on your company balance sheet

Also posted on my blog as usual. Read it there if you can, there are footnotes and inlined plots.
A couple of months ago, MicroStrategy (MSTR) had a spare $400M of cash which it decided to shift to Bitcoin (BTC).
Today we'll discuss in excrutiating detail why this is not a good idea.
When a company has a pile of spare money it doesn't know what to do with, it'll normally do buybacks or start paying dividends. That gives the money back to the shareholders, and from an economic perspective the money can get better invested in other more promising companies. If you have a huge pile of of cash, you probably should be doing other things than leave it in a bank account to gather dust.
However, this statement from MicroStrategy CEO Michael Saylor exists to make it clear he's buying into BTC for all the wrong reasons:
“This is not a speculation, nor is it a hedge. This was a deliberate corporate strategy to adopt a bitcoin standard.”
Let's unpack it and jump into the economics Bitcoin:

Is Bitcoin money?

No.
Or rather BTC doesn't act as money and there's no serious future path for BTC to become a form of money. Let's go back to basics. There are 3 main economic problems money solves:
1. Medium of Exchange. Before money we had to barter, which led to the double coincidence of wants problem. When everyone accepts the same money you can buy something from someone even if they don't like the stuff you own.
As a medium of exchange, BTC is not good. There are significant transaction fees and transaction waiting times built-in to BTC and these worsen the more popular BTC get.
You can test BTC's usefulness as a medium of exchange for yourself right now: try to order a pizza or to buy a random item with BTC. How many additional hurdles do you have to go through? How many fewer options do you have than if you used a regular currency? How much overhead (time, fees) is there?
2. Unit of Account. A unit of account is what you compare the value of objects against. We denominate BTC in terms of how many USD they're worth, so BTC is a unit of account presently. We can say it's because of lack of adoption, but really it's also because the market value of BTC is so volatile.
If I buy a $1000 table today or in 2017, it's roughly a $1000 table. We can't say that a 0.4BTC table was a 0.4BTC table in 2017. We'll expand on this in the next point:
3. Store of Value. When you create economic value, you don't want to be forced to use up the value you created right away.
For instance, if I fix your washing machine and you pay me in avocados, I'd be annoyed. I'd have to consume my payment before it becomes brown, squishy and disgusting. Avocado fruit is not good money because avocadoes loses value very fast.
On the other hand, well-run currencies like the USD, GBP, CAD, EUR, etc. all lose their value at a low and most importantly fairly predictible rate. Let's look at the chart of the USD against BTC
While the dollar loses value at a predictible rate, BTC is all over the place, which is bad.
One important use money is to write loan contracts. Loans are great. They let people spend now against their future potential earnings, so they can buy houses or start businesses without first saving up for a decade. Loans are good for the economy.
If you want to sign something that says "I owe you this much for that much time" then you need to be able to roughly predict the value of the debt in at the point in time where it's due.
Otherwise you'll have a hard time pricing the risk of the loan effectively. This means that you need to charge higher interests. The risk of making a loan in BTC needs to be priced into the interest of a BTC-denominated loan, which means much higher interest rates. High interests on loans are bad, because buying houses and starting businesses are good things.

BTC has a fixed supply, so these problems are built in

Some people think that going back to a standard where our money was denominated by a stock of gold (the Gold Standard) would solve economic problems. This is nonsense.
Having control over supply of your currency is a good thing, as long as it's well run.
See here
Remember that what is desirable is low variance in the value, not the value itself. When there are wild fluctuations in value, it's hard for money to do its job well.
Since the 1970s, the USD has been a fiat money with no intrinsic value. This means we control the supply of money.
Let's look at a classic poorly drawn econ101 graph
The market price for USD is where supply meets demand. The problem with a currency based on an item whose supply is fixed is that the price will necessarily fluctuate in response to changes in demand.
Imagine, if you will, that a pandemic strikes and that the demand for currency takes a sharp drop. The US imports less, people don't buy anything anymore, etc. If you can't print money, you get deflation, which is worsens everything. On the other hand, if you can make the money printers go brrrr you can stabilize the price
Having your currency be based on a fixed supply isn't just bad because in/deflation is hard to control.
It's also a national security risk...
The story of the guy who crashed gold prices in North Africa
In the 1200s, Mansa Munsa, the emperor of the Mali, was rich and a devout Muslim and wanted everyone to know it. So he embarked on a pilgrimage to make it rain all the way to Mecca.
He in fact made it rain so hard he increased the overall supply of gold and unintentionally crashed gold prices in Cairo by 20%, wreaking an economic havoc in North Africa that lasted a decade.
This story is fun, the larger point that having your inflation be at the mercy of foreign nations is an undesirable attribute in any currency. The US likes to call some countries currency manipulators, but this problem would be serious under a gold standard.

Currencies are based on trust

Since the USD is based on nothing except the US government's word, how can we trust USD not to be mismanaged?
The answer is that you can probably trust the fed until political stooges get put in place. Currently, the US's central bank managing the USD, the Federal Reserve (the Fed for friends & family), has administrative authority. The fed can say "no" to dumb requests from the president.
People who have no idea what the fed does like to chant "audit the fed", but the fed is already one of the best audited US federal entities. The transcripts of all their meetings are out in the open. As is their balance sheet, what they plan to do and why. If the US should audit anything it's the Department of Defense which operates without any accounting at all.
It's easy to see when a central bank will go rogue: it's when political yes-men are elected to the board.
For example, before printing themselves into hyperinflation, the Venezuelan president appointed a sociologist who publicly stated “Inflation does not exist in real life” and instead is a made up capitalist lie. Note what happened mere months after his gaining control over the Venezuelan currency
This is a key policy. One paper I really like, Sargent (1984) "The end of 4 big inflations" states:
The essential measures that ended hyperinflation in each of Germany,Austria, Hungary, and Poland were, first, the creation of an independentcentral bank that was legally committed to refuse the government'sdemand or additional unsecured credit and, second, a simultaneousalteration in the fiscal policy regime.
In english: *hyperinflation stops when the central bank can say "no" to the government."
The US Fed, like other well good central banks, is run by a bunch of nerds. When it prints money, even as aggressively as it has it does so for good reasons. You can see why they started printing on March 15th as the COVID lockdowns started:
The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals.
In english: We're going to keep printing and lowering rates until jobs are back and inflation is under control. If we print until the sun is blotted out, we'll print in the shade.

BTC is not gold

Gold is a good asset for doomsday-preppers. If society crashes, gold will still have value.
How do we know that?
Gold has held value throughout multiple historic catastrophes over thousands of years. It had value before and after the Bronze Age Collapse, the Fall of the Western Roman Empire and Gengis Khan being Gengis Khan.
Even if you erased humanity and started over, the new humans would still find gold to be economically valuable. When Europeans d̶i̶s̶c̶o̶v̶e̶r̶e̶d̶ c̶o̶n̶q̶u̶e̶r̶e̶d̶ g̶e̶n̶o̶c̶i̶d̶e̶d̶ went to America, they found gold to be an important item over there too. This is about equivalent to finding humans on Alpha-Centauri and learning that they think gold is a good store of value as well.
Some people are puzzled at this: we don't even use gold for much! But it has great properties:
First, gold is hard to fake and impossible to manufacture. This makes it good to ascertain payment.
Second, gold doesnt react to oxygen, so it doesn't rust or tarnish. So it keeps value over time unlike most other materials.
Last, gold is pretty. This might sound frivolous, and you may not like it, but jewelry has actual value to humans.
It's no coincidence if you look at a list of the wealthiest families, a large number of them trade in luxury goods.
To paraphrase Veblen humans have a profound desire to signal social status, for the same reason peacocks have unwieldy tails. Gold is a great way to achieve that.
On the other hand, BTC lacks all these attributes. Its value is largely based on common perception of value. There are a few fundamental drivers of demand:
Apart from these, it's hard to argue that BTC will retain value throughout some sort of economic catastrophe.

BTC is really risky

One last statement from Michael Saylor I take offense to is this:
“We feel pretty confident that Bitcoin is less risky than holding cash, less risky than holding gold,” MicroStrategy CEO said in an interview
"BTC is less risky than holding cash or gold long term" is nonsense. We saw before that BTC is more volatile on face value, and that as long as the Fed isn't run by spider monkeys stacked in a trench coat, the inflation is likely to be within reasonable bounds.
But on top of this, BTC has Abrupt downside risks that normal currencies don't. Let's imagine a few:

Blockchain solutions are fundamentally inefficient

Blockchain was a genius idea. I still marvel at the initial white paper which is a great mix of economics and computer science.
That said, blockchain solutions make large tradeoffs in design because they assume almost no trust between parties. This leads to intentionally wasteful designs on a massive scale.
The main problem is that all transactions have to be validated by expensive computational operations and double checked by multiple parties. This means waste:
Many design problems can be mitigated by various improvements over BTC, but it remains that a simple database always works better than a blockchain if you can trust the parties to the transaction.
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05-13 10:33 - 'Tron’s Former CTO Accuses CEO Justin Sun of Centralizing the Project' (news.8btc.com) by /u/eviade8btc removed from /r/Bitcoin within 27-37min

Tron’s Former CTO Accuses CEO Justin Sun of Centralizing the Project
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Author: eviade8btc
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Crypt0 - So Much Crypto News - LIVE! Bitcoin, Ethereum, Justin Sun, Coinbase, & More (March 25th, 2019)

Crypt0 - So Much Crypto News - LIVE! Bitcoin, Ethereum, Justin Sun, Coinbase, & More (March 25th, 2019) submitted by Yanlii to cryptovideos [link] [comments]

BitTorrent Token Price Doesn’t Budge Despite Justin Sun’s “Hype’ Campaign - The Bitcoin News

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Bitcoin on SUN mining. - YouTube BITCOIN BULLISH OVER $9000  Tron and Justin Sun Sued  DigiByte on iOS  Crypto News Is Justin Sun a Scammer?  Another Possible Exchange Hack ... The Moon - YouTube Bitcoin FUD - Remember This?  Cryptocurrency News - YouTube

©News Group Newspapers Limited in England No. 679215 Registered office: 1 London Bridge Street, London, SE1 9GF. "The Sun", "Sun", "Sun Online" are registered trademarks or trade names of News ... The Sun, A News UK Company . TOP. Sign in . US Edition . UK Edition; Scottish Sun; Irish Sun; Search . Home; News; Entertainment; Lifestyle; Sport; Bitcoin and cryptocurrencies . All the latest news on the cryptocurrencies and what these alternative currencies actually are. Related Topics; Twitter; Cyber Crime and hacking; Crime; Scams and fraud; Explainers; ZOOM BOMBED. Virtual bail hearing ... Justin Sun hat die Einführung einer Beobachtungsliste für die SUN Mining Pool-Gemeinschaft auf der sun.market Plattform angekündigt.; Die Gemeinschaft wird die Möglichkeit haben über die Schaffung von Mining Pools für Bitcoin, Ethereum, Litecoin und andere Altcoins zu entscheiden. Sun tweeted this milestone to the crypto community, noting that the wrapped version of Bitcoin, BTCTRON, had 838 holders who had undertaken 8,128 transactions. This number is continuously increasing, depicting the growing adoption. This follows the launch of its sidechain solution, the Sun Network, in August. The Sun Network is a scaling ... The Silk Road Balance Sheet Discrepancy: Bitcoin Worth $4.8 Billion Still Missing. The original Silk Road marketplace has been shut down for well over seven years now and to this day, 444,000 ...

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Bitcoin on SUN mining. - YouTube

ALERT!!! BITCOIN IS DUMPING TO THIS EXACT PRICE, but there is ONE THING which can save us!!! 402 FREE on our Trusted Exchanges! 🔶 Bybit: https://bit.ly/MMCry... Bitcoin FUD - Remember This? Cryptocurrency News Like and Subscribe Become a CryptosRus INSIDER to gain exclusive insight on the market, get reviews and a... My channel focuses on Bitcoin news and Bitcoin price. In every video I do Bitcoin technical analysis suitable even for beginners, I go through daily BTC news... Bitcoin breaks the $9k barrier once again. Justin Sun is in trouble. According to reports, Richard Hall, 50, and Lukasz Juraszek, 28 allege that they had to undergo derogatory treatment and ... The Cryptoviser on YouTube. Daily Cryptocurrency, Blockchain, Investing and Finance News and Discussions. Official Twitter: www.Twitter.com/TheCryptoviser **...

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