You know how people say: "I bought 3 bitcoins," "I invested in bitcoins," "I'm stacking satoshis," "I transferred bitcoins to my wallet," or "I mined bitcoins"? However, all of this is a myth because no bitcoins or their fractions (satoshis) actually exist. The myth stems from a post by an unknown programmer who claimed to have invented a payment system that transfers money. But all his invention does is maintain a decentralized database over a peer-to-peer network that shows which numbers belong to which addresses. People came to believe that this network and its underlying protocol, collectively known as Bitcoin, record an amount of money, namely these bitcoins (abbreviated as BTC), in the database. But that money is not there. For instance, people often claim they have bought digital money, even though nothing digital exists in proportion to the assigned numbers. A person whose address is assigned the number "50" cannot show fifty files, data structures, or software products. There are no digital "bitcoin objects" that can be mined, bought, owned, moved, or used. It is even more obvious that nothing physical exists. Despite media illustrations of metal coins stamped with the '₿' symbol and frequent claims that one is buying something comparable to collectibles or commodities, no fifty tangible units of any kind are stored or reserved for the person next to whose address stands "50." The most common myth, however, is the belief that people have bought something akin to fiat currencies, e-money issued by companies such as PayPal, tokens, or even stocks. Yet, all of the above are instruments of liability, where the holder derives a benefit upon the fulfillment of that liability. Stocks track a company's obligation to its shareholders. When companies decide to distribute profits, execute stock buybacks, or liquidate the business, they are legally required to make direct payments to shareholders. PayPal’s e-money and tokens, like casino chips, track the issuer's obligation to redeem them for a specified amount of fiat currency. Fiat currencies track the obligations of those who took out loans from commercial and central banks. Before each installment payment on these loans, these debtors provided goods, services, or labor to the holders of fiat currency, or, in the case of the state, the ability to settle a tax liability. If debtors default on their payments, banks seize their property, offering them at auctions to holders of fiat currency, providing them with a benefit in that way. That unknown programmer's invention does not track anyone's liability whose fulfillment would provide a benefit to the holders of Bitcoin addresses. Therefore, nothing is tracked with numbers assigned to these addresses. There is no physical, digital, or liability-based money that could be called "bitcoins". What people are actually doing is engaging in a large-scale redistribution of existing assets, and the Bitcoin network numerically tracks this act of redistribution. Through a collective narrative and storytelling, this process is publicly misperceived as an investment or a purchase. Centralized exchanges reinforce this myth most aggressively by displaying the "BTC" ticker and USD side-by-side on trading interfaces. This is a visual lie, where the interface assumes that "something" stands behind the letters "BTC," just as a liability stands behind "USD." Even critics participate in the myth. For example, by speaking of an "overvalued currency," they assume its existence. They call the act of redistribution "overvaluation," even though there is no digital, physical, or liability-based asset that the user has received and could value. You cannot say the price is too high when there is nothing to compare it to. Since there are only numbers in a database, the word "overvalued" makes no sense. You cannot overvalue the number 50; it is simply 50. In short, the myth about the existence of money behind Bitcoin addresses persists, even though it falls apart under elementary analysis, because it exploits a deep get-rich-quick mentality. Early participants amassed fortunes via this large-scale redistribution scheme, which drives newcomers with the seductive illusion that they will get rich as well. The emotions involved are so strong that they override all rationality. Admitting the myth would be too painful, so it lives on, despite being demonstrably false. submitted by /u/BinaryLyric [link] [Kommentare]
I came across an interesting token on solana that has joby weeks himself involved. If you all dont know about joby weeks, he was one of the pioneers that helped create the infrastructure of mining for bitcoin. He also had a hand in creating the logo of bitcoin himself. The government had arrested him and hes been incarcerated under house arrest for 7 years without any conclusion to his case. Now he will most likely get pardoned on July 4th by Trump himself. The government has violated the act to a speedy trial and all charges will have to be dropped and hit 20 billion dollars in btc returned. This man was a massive pioneer to bitcoin itself. He is now running a token on solana called Free Joby ticker $joby. This is a movement. Once he is free, he vowed to buy 50% of the supply himself. This is a middle finger to the people who kept him down. General Flynn, one of trumps previous advisors for national security has bought $joby and is actively working to get him free. It is going viral and I think we are early. Key notes: ✌️There’s some important facts people have to remember here to gauge just how early you are and what’s actually happening and coming for $JOBY… 12 prosecutors have quit working on the case after reviewing the evidence. They can’t win and they’re all terrified of losing and being the one responsible for the government returning his 20 billion worth of Bitcoin. The precedent of the case was Joby was pushing around a registered security. It’s now legally defined that BTC isn’t a security and it’s wide open for exactly what he was doing, not that it ever wasn’t. You’re about to witness a man being freed and that will set legal precedent going into his lawsuit to have the BTC returned. If they can’t stick charges there’s no grounds to keep his seized assets. What’s likely coming is a realization of these facts and a settlement. Any rational person suing for 20 billion would take 2 billion and anyone worried above giving up 20 billion would offer 2 billion. A deal is likely and it’s coming to a head. There’s very powerful people advocating for this to settle once and for all. Given Joby’s public statements about his commitment to this project we all know what’s coming will be epic. You don’t want to miss out on a liquid billionaire having some casual fun on the sugar high of a lifetime. He’d be more liquid than Elon if he got the whole sum. We just may be early for the next white whale or what could dwarf white whale. Stay locked in and don’t leave without a moonbag. Support the cook… In the photos provided, you can see on the official physical Bitcoin coin that Joby’s name is stamped on it and on the digital official btc logo is imprinted MJB which means Mick, Joby and Bobby. They created the logo itself to BTC. Another photo is proof that the government admitted they violated the speedy trial act which means they must, drop the charges and release him. When he gets back his money, what do you think is going to happen? It will be world news and he is actively pushing the coin free joby along with actual people within the government. This is huge. Be early and all information is located within the Tg chat. He even redirected his official website to the coin itself. The Official joby weeks website www.jobyweeks.com submitted by /u/ButterscotchSilver11 [link] [Kommentare]
I've noticed that most traders eventually switch exchanges at some point. Sometimes it's because of fees, sometimes security concerns, and sometimes just a better user experience. What was the main reason you left an exchange and moved to a different one? Lower fees? Better security? Faster withdrawals? Better customer support? More trading pairs? Curious to hear everyone's experiences. submitted by /u/bigbird212 [link] [Kommentare]
Welcome to the Daily Crypto Discussion thread. Please read the disclaimer and rules before participating. Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here. Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams. Rules: All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect. Discussion topics must be related to cryptocurrency. Behave with civility and politeness. Do not use offensive, racist or homophobic language. Comments will be sorted by newest first. Useful Links: Beginner Resources Intro to r/Cryptocurrency MOONs 🌔 MOONs Wiki Page r/CryptoCurrency Discord r/CryptoCurrencyMemes Prior Daily Discussions - (Link fixed.) r/CryptoCurrencyMeta - Join in on all meta discussions regarding r/CryptoCurrency whether it be moon distributions or governance. Finding Other Discussion Threads Follow a mod account below to be notified in your home feed when the latest r/CC discussion thread of your interest is posted. u/CryptoDaily- — Posts the Daily Crypto Discussion threads. u/CryptoSkeptics — Posts the Monthly Skeptics Discussion threads. u/CryptoOptimists- — Posts the Monthly Optimists Discussion threads. u/CryptoNewsUpdates — Posts the Monthly News Summary threads. submitted by /u/AutoModerator [link] [Kommentare]
$109 billion. That's how much in Treasury bills stablecoin firms bought in just five months after the Genius Act passed. Not Japan. Not China. Not the Federal Reserve. Crypto companies. The "consumer protection" that wasn't The Genius Act requires stablecoin issuers to back tokens primarily with US Treasuries under 93-day maturity. It was sold as protecting users. In reality, every single minted USDC or USDT is now a forced government loan. The numbers that stop you Tether holds $141 billion in US Treasuries more than Saudi Arabia and Brazil Between Tether and Circle, the combined sector holds $160+ billion in US debt Tether is now approximately the 17th largest holder globally TBAC models project up to $2 trillion in incremental demand as stablecoins march toward $3T market cap Why Washington needs this The US must roll over ~$9 trillion in maturing debt with $2 trillion in new borrowing on top. China cut Treasury holdings to the lowest since 2008. Traditional foreign buyers are stepping back. Congress didn't just regulate crypto they conscripted it as the buyer of last resort. The global fallout The RBI explicitly warned stablecoins could erode monetary control. ECB officials called dollar stablecoin expansion a "strategic threat to the euro." 98% of all global stablecoin value is denominated in USD. This isn't replacing the dollar it's extending it through digital rails. Full breakdown: https://youtu.be/iXn1yry5mGY submitted by /u/Free-Benefit-6761 [link] [Kommentare]
Lets match delhi Vibes https://x.com/henry58290/status/2068146521280028721 submitted by /u/henry58290 [link] [Kommentare]
Welcome to the Daily Crypto Discussion thread. Please read the disclaimer and rules before participating. Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here. Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams. Rules: All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect. Discussion topics must be related to cryptocurrency. Behave with civility and politeness. Do not use offensive, racist or homophobic language. Comments will be sorted by newest first. Useful Links: Beginner Resources Intro to r/Cryptocurrency MOONs 🌔 MOONs Wiki Page r/CryptoCurrency Discord r/CryptoCurrencyMemes Prior Daily Discussions - (Link fixed.) r/CryptoCurrencyMeta - Join in on all meta discussions regarding r/CryptoCurrency whether it be moon distributions or governance. Finding Other Discussion Threads Follow a mod account below to be notified in your home feed when the latest r/CC discussion thread of your interest is posted. u/CryptoDaily- — Posts the Daily Crypto Discussion threads. u/CryptoSkeptics — Posts the Monthly Skeptics Discussion threads. u/CryptoOptimists- — Posts the Monthly Optimists Discussion threads. u/CryptoNewsUpdates — Posts the Monthly News Summary threads. submitted by /u/AutoModerator [link] [Kommentare]
Anyone else furious about Kraken still holding our Humanity Protocol ($H) tokens hostage? Every other major exchange—Binance, Bybit, KuCoin, Gate—already processed the 1:1 token migration and reinstated trading days ago. Meanwhile, Kraken is sitting on their hands, completely stripping away our right to manage our own risk. Their "we're protecting retail" narrative is complete garbage when the house is actively burning down and we aren't even allowed to run for the exit. At this point, it feels like they are intentionally dragging their feet to wait out the massive token unlock scheduled for next week. If they keep trading frozen until those millions of tokens flood the market and obliterate the price even further, Kraken users are the only ones getting completely left behind without a single chance to salvage their capital. Kraken Support, stop the corporate stalling and give us an actual timeline. Let us trade or transfer our assets. Taking away the sell button isn't protection—it's negligence. submitted by /u/tallcantommy23 [link] [Kommentare]
I swear there's never been a single positive news story on crypto, even the attorneys are mocking it. submitted by /u/MW2_Lobbies [link] [Kommentare]
Going to just put my savings into crypto and see what happens im at the point make it or fuck it Anyone any advice? submitted by /u/Prior_Night_985 [link] [Kommentare]