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crypt1d parent
Happy to see this whole thing finally coming to an end, its a nice wrap to the dead market we've had for the past 2 years. I'm excited for 2024 in crypto!
rideontime
What makes you think this is the end of anything?
crypt1d OP
The rumour about Binance indictment by DoJ has been going around for 1-2 years now. Its one of the last remaining pieces of major news that could have potentially negatively affected the industry. After two years of prosecutions, regulatory uncertainty and general poor market conditions, its only now starting to feel like there's light at the end of the tunnel.
tucnak
Your optimism is fascinating & inspiring. Perhaps one day it would mature enough for GNU Taler and the like.
yscal
do the recent Kraken charges change this sentiment at all?
crypt1d OP
Not really. SEC investigations are civil, not criminal. They might end up paying a fine, but there is no risk of jail time or anything similar. Also, while I like Kraken as an exchange, its market share is not significant enough for it to matter in the big picture.
dragonwriter
> SEC investigations are civil, not criminal.

SEC investigations address both aspects, when it gets past investigation to litigation, they do civil litigation themselves and refer to DOJ for potential criminal prosecution.

artursapek
Coinbase has been charged with more or less the same thing since this summer. The SEC is grasping at straws at this point.
ratg13
Pay no attention to those stablecoins over in the corner.

The name implies they are stable, what more could anyone want?

vkou
> Its one of the last remaining pieces of major news that could have potentially negatively affected the industry.

What, is the giant ticking timebomb of the USDT money printer not likely to 'negatively affect the industry'?

toenail
> Its one of the last remaining pieces of major news that could have potentially negatively affected the industry

Lol. Tether imploding anyone?

jgilias
That’s pretty unlikely to happen at the moment though. I’m far from a Tether fanboy, but in this interest rate environment they are likely making boatloads of money just by sitting on a nice chunk of T-bills.
Enogoloyo
Light to final blow against crypto the horrible CO2 production and the annoying get rich apps.

Let's hope it dies sooner than later.

asterix_pano
There are now lots of efficient cryptos and some that can run on a single wind turbine. But I am with you, hoping the energyvore ones die as fast as possible.
play_ac
The efficient ones are still outright scams if not blatantly illegal. All cryptocurrencies should die. After more than a decade it's clear by now that blockchains are a useless technology and the investors are getting more and more desperate to pass the bag.
artursapek
Yes, it's so nice how the traditional finance system has no CO2 emissions
Enogoloyo
The classical financial system has much less CO2 per transaction and more features.

It's the perfect finetuned and still optimized PoS system.

Aaronstotle
Tether is the last domino
fallat
The current crypto market activity has nothing to do with crypto news. The macro-economic state of the world is one where everything is going up.
nprateem
More specifically now you can get actual real money by putting your savings in a bank account (and most people are struggling to pay the increased cost of living), there's less incentive to throw it away in a casino.
psychlops
I suggest spending some time understanding why the cost of living went up. Clearly you live in a place with a relatively stable currency (for now).
acdha
A lot of the inflation seen in the U.S. is corporate profit-taking such as when the automakers used the chip shortages to steer buyers towards the highest-end models they prioritized for production while less profitable models were back ordered.

That matters because cryptocurrencies don’t help at all with the inflation consumers are seeing, while adding more personal risk and an exchange rate to arbitrage.

psychlops
You have an interesting worldview. Corporations take profits to pay their employees. They do this with or without inflation and always have.

How would a crypto "help" with inflation? In the same way the Dollar "helps" with the inflation of the Euro?

Cryptos don't add to personal risk, people do that. If you think cryptos are making an impact, you should understand that the entire crypto economy is a rounding error in inflationary impact.

4 More Comments →
umeshunni
That's not how inflation works.
2 More Comments →
nprateem
What's that got to do with it driving people away from speculative assets?
shrimpx
5% annualized on 4% inflation is a joke. I don't consider "high yield" savings to be any kind of strategy.
FabHK
Real rates in the US are at the highest level since before the GFC, they’ve basically gone from negative to >2%.

https://fred.stlouisfed.org/series/REAINTRATREARAT10Y

brahbrah
If you have a mortgage, it ain’t half bad
scrlk
I'm curious to see how BTC will fare. We've only seen the 4 year halving cycle play out during a secular bull market so far.
landemva
There were reward halvings in 2012, 2016, and 2020. I thought the 2012 halving was the most uncertain, as it was the first and the market had little liquidity.

https://www.fidelity.com/learning-center/trading-investing/b...

ryan_lane
This is how the greater fool market continues to flourish.
esafak
FTT to the moon! Oh wait.
SilasX
Actually ... since the trial ended, FTT went from ~$1.2 to ~$3.5 and has stayed up. I have no idea how these people expect it to pay out. Even if FTX restarts, they will almost certainly cast off such liabilities with the approval of the bankruptcy court.

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