I write software and like to talk about #Bitcoin
Somewhere and Nowhere
Joined December 2017
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- Following1.2K
- Followers4.8K
- Likes35.3K
Bit-Reckless retweeted
Paraguay's largest digital bank just collapsed, and about 60% of the country's adults banked there.
The central bank seized Ueno Bank on Tuesday after its solvency ratio fell below half the legal minimum. Roughly 3 million customers were locked out overnight: app, cards and transfers all frozen.
The fallout so far:
• About $380M of the state pension and health fund (IPS) is tied up in Ueno bonds and deposits
• 13 mutual funds froze withdrawals and trading in Ueno's bonds was halted
• Ueno handled about two thirds of electronic payments at large supermarkets, and merchants warn retail could be partly paralyzed
• Customers can only get back up to about $1,700 for now
• The central bank chief resigned and prosecutors ordered 8 people linked to the bank arrested
Angry depositors have taken to the streets of Asunción, and the opposition is pushing to impeach President Santiago Peña over his past ties to the bank's parent group.
One bank failure, and most of a country can't touch its money. That's counterparty risk.
Bit-Reckless retweeted
BREAKING: 🚨 YOUTUBE JUST BANNED SIMPLY BITCOIN FOR THE 2ND TIME. HERE’S THE TRUTH. 👀
Bit-Reckless retweeted
🚨 YOUTUBE JUST BANNED SIMPLY BITCOIN
After 6 years of building this channel, hundreds of hours of work, and our commitment to following YouTube’s Community Guidelines, our channel has been banned.
@YouTube @TeamYouTube @YouTubeCreators, why is Bitcoin-only content being targeted?
Im muting the word Tesla for a bit.
Both sides of this reveal are being stupid and its gotta be a psyop at this point
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Bit-Reckless retweeted
Bitcoin chart adjusted for inflation.
lotus-apex-honey-drum.grok.m…
Bit-Reckless retweeted
Talk about slowly then ....
Just got off a call with a waste mgmt consortium who have
1. significant methane emissions on multiple landfills affecting air quality, tourism, human health
2. concluded the only viable solution is Bitcoin mining
3. are asking when we can visit
They don't want one Bitcoin on of their landfills, they want it piloted on one, then rolled out to all the other major emitters.
And because methane is such a powerful greenhouse gas, just one of these landfill will offset the emissions of a whole midsized city.
3 years ago, landfill owners didn't want to know us/ Fellow-environmentalists scoffed at the idea Bitcoin mining could do anything good for the environment. Fellow investors said things like "remind me the name of your fund, so I'm sure never to invest"
The impact that Bitcoin can make for people and planet is only just beginning.
My boss wants to recreate a complex system built up over decades with a lot of variables and legacy code and black boxes in a few weeks with AI.
On one hand its great, things work, we iterate so fast now.
But im terrified of the maintainance.
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Bit-Reckless retweeted
We are aware of a security incident on @Liquid_BTC. Purported white-hat hackers have withdrawn ~4,000 BTC (~$320 million) from the Liquid Federation wallet. The @Blockstream team is working on contacting them on-chain with a signed message.
What we know so far is that the funds were withdrawn via the SideSwap PAK (Peg-out Authorization Key), but that key was not compromised, nor were any others.
Exchanges have been notified and have already paused (or will pause) LBTC deposits and withdrawals. Other Liquid assets such as USDT, DePix, and RWAs are unaffected by this security incident.
Bridge nodes have been temporarily disabled, so no new transactions can be submitted to the network. Effectively, the Liquid sidechain is paused until this issue is resolved.
Liquid wallets will be impacted, and we're sorry for any inconvenience. Federation members are actively working on resolving this so we can restore normal network activity.
You can monitor the situation via @mempool's liquid.network site below:
mempool.space/address/bc1qdl…
Bit-Reckless retweeted
$80K car loan → “Nice ride, you’re doing great”
$150K student debt → “you need it for your future job”
$25K wedding → “It’s the most beautiful day of your life”
$10K in Bitcoin → “You’re crazy, that’s gambling”
Society will cheer you on going broke, but will panic the second you try to build wealth.
The 10 year yield is printing a perfect bull flag on the weekly.
Are we going to get an insane run ?
Can you even chart the bond market ?
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Bit-Reckless retweeted
Woke up this morning to @CashApp deactivating my account.
No explanation except I violated a terms of service but they won’t say what it is.
Everyone here knows I’m a huge fan of the app.
I am completely confused since my last transaction was my paycheck deposit that went into Bitcoin.
And the one before that was me buying Bitcoin. And the one before that was a family member USD transfer.
If these are raising red flags then I’m not sure the app is working as promised.
Can someone fix this please? @CashSupport @jack
