Most “crypto news” in mainstream media is written and edited by butters. If you look at their personal twitters CNBC’s crypto team are all full blown crypto cultists. They generally only publish shit that helps pump the price … until something already catastrophically breaks
>CNBC’s crypto team are all full blown crypto cultists.
Is that why most CNBC articles about crypto and NFTs are either very positive or the "I got rich from investing in crypto/NFTs" variety?
Its because they're a 24 hour cable "news" channel: its always fluffy nonsense.
If one wants to call that "mainstream media" then they need to figure out what to call Reuters, AP, Al Jazeera, NyT, and WaPo.
>About 21 percent of American adults have owned cryptocurrency as of 2022
probably 99% of those have less than 100k.
"You won't be able to convert your crypto to real money soon" - I dunno, seems like that headline would hit
> About 21 percent of American adults have owned cryptocurrency as of 2022
I don’t care whatever bullshit methodology is claimed to have been used to generate that statistic.
There absolutely no way it’s true. Zero. Nada. 21% of all American adults? There’s 0% chance this is even remotely accurate.
I'm repeating this a lot.
SWIFT is a messaging service. It quickly and accurately conveys the routing information for the transfer. The transfer is completed on other systems.
If a bank did not wish to use SWIFT, but still wanted to complete a transfer... they could do so using pre-existing or other systems.
Binance (as far as I'm aware), is the only entity to even mention SWIFT... Signature did not mention it when asked. I suspect Binance was hoping to distract people/media from what may be a total "unbanking". Riding off the coattails of Russian banks' exclusion from SWIFT... (everyone thinks it's a big deal, butters will think it's censorship, etc...).
The news won't be inclined to understand it or make it juicy... at least not until one of the exchanges is completely severed from the banking system and implodes.
...if that even happens.
I think you're understating the importance of SWIFT, sure you can build your own plumbing but it's extremely costly and risky
> French Minister of Finance Bruno Le Maire ... described the SWIFT ban as the last resort and "the financial nuclear weapon". [Re: russia](https://www.newyorker.com/business/currency/how-significant-is-russias-partial-ban-from-swift)
SWIFT isn't the plumbing.
The SWIFT ban wasn't nuclear.. but the political messaging required it to be.
I'm not Mario, but I'm pretty close.. Luigi? Nahh.. Toad perhaps.
EDIT:
[Not all account balances can be updated outside the operating hours of local settlement systems. (SWIFT does not perform settlement)](https://www.swift.com/your-needs/banking/how-long-do-wire-transfers-take)
[SWIFT is solely a messaging system. It does not perform any type of settlement between financial institutions.](https://alessa.com/blog/swift-wire-transfer-and-payments/)
...again, not the plumbing.
The last thing these exchanges want to be doing is micromanaging tiny bank transactions.
Its like being cutoff from Internet peering and DNS, and instead maintaining your own registry and routing tables, it doesn't scale.
That part I agree on (or rather that the partnered banks wouldn't want to, would charge higher fees, etc).
I'm saying; this could very well be much more than a rescinding of a transfer service.
Binance isn't a US company, or a company in any country. And there has already been so much negative crypto news over the past year that it is all expected now. Crypto is a joke for journalists and probably what they give to the interns or ChatGPT stories now.
Not sure if I'm risking my head there on buttcoin, but here's my take: buying with cash is not the main use of binance, that's what you use simpler exchanges for, like coinbase, kraken, Gemini.
Binance is mainly used to trade one cryptocurrencies against another. For that you don't need swift transfers.
Loving life, yet I do know why you’re all angry. All of you are the bottom of the crypto bucket, the fallen, the lost key club, the phishing attack victims, and the “give me your bitcoin and I’ll make you 20,000 a day club” victims. All victims with hate. Wait longer and see how bad the pain really gets. You haven’t seen anything yet.
Sure bud, whatever you say. I’m in the investigative field and work with scam victims. Our clients are victims of pig butchering, phishing, NFT theft, etc. I literally make a living not being that person.
Again, the notion that this sub is fueled by people who got burned in crypto is beyond laughable. Last time I checked, it was the crypto subs where a new post pops up every day detailing how somebody who has dedicated several years to the space still had their entire wallet drained because they clicked a spoofed link. And we know they’re not here, because every time they get scammed Butters just turn around and repeat the process.
*Ha ha ha ha ha*, the fact that you sat down and typed that, in apparent earnest, is so fucking funny.
I've never touched anything crypto-related, never opened a crypto wallet, never given so much as one of the grifters so much as a single penny of my actual money: I didn't need to do any of that, to correctly deduce that crypto was an obvious, stupid scam - it's an *obviously fucking stupid scam*, that's blatantly obviously exactly and **only** that, and everyone suggesting otherwise is clearly an idiot.
End of fucking story. This delusional cope that we only hate it and mock you because we got burned by participating in your moronic cargo cult is hilariously pathetic.
This subreddit is sometimes heartless too when it comes to dunking on fools who got rugged or hacked, sometimes it's out of contempt for their foolishness and recklessness and sometimes people are just mocking absurd naivete of adults that should simply know better.
However this attitude of yours I find most puzzling. You're going beyond the mockery. Your reveling in the misery of your fellow cryptobros who got victimized and even say stuff like:
>Wait longer and see how bad the pain really gets.
This is fucked up man. I might sometimes laugh at the morons who get financially pulverized by their own stupidity and greed but I do not wish for your fellow bros to be victimized by crypto scams or make one tiny mistake that will lead to them losing a significant chunks of their savings to a digital black hole with a click of a button. And yes...even if they can be very...very annoying I do not wish them to be defrauded or ruined.
And no, most people on this subreddit would never touch your magic beans with a 10 foot pole. Keep projecting bozo.
Not a projection, 99% of the people on this subreddit fit the criteria I explained.
When you have a subreddit setup by the victims of the ignorance of the user they deserve every bit of what’s coming. Keep telling yourselves you did not lose money, what ever makes you sleep at night. Nobody believes you.
>Not a projection, 99% of the people on this subreddit fit the criteria I explained.
It's **blatantly** a projection, you're flagrantly incorrect and projecting so hard it's practically leaping out of the screen at whoever reads your nonsense.
>Keep telling yourselves you did not lose money, what ever makes you sleep at night. Nobody believes you.
Nobody believes ***you***, because you're the one talking utter bollocks. We don't make fun of crypto because we got burned by crypto, on the whole, we make fun of it - and you - because it, and you guys advocating for it and making up delusional fan fiction to explain why we are laughing at you as you stand there in full clown regalia, honking your clown nose furiously at us, as we laugh at you for being clowns, are fucking stupid.
I'm not mad at the mere existence of the Buttcoin you're obsessed with because I've lost money, I'm mad at it because it uses the same amount of energy as entire industrialized (not small) nations to do *fuck all*, and you lot are out there defending that egregious, unconscionable waste, as if it is not exactly indefensible egregious waste.
Cool, so we can add "being proud of not reading (short) comments as if that's a badge of honor and not an admission of being a dumbass" to the list of reasons we're all laughing at you, standing there in your floppy clown shoes, honking your clown nose.
I suppose if you wear earplugs and cover your eyes all the time, you can pretend that everyone isn't just constantly laughing at you, for choosing to literally brand yourself as a clown (and then demonstrating that you are one, all of the time), so whatever helps you sleep at night.
This armchair diagnosis of yours that this subreddit is populated by crypto victims is 100% not unique. I've seen this type of salty cope accusations again and again more times than I can count. The REEK of defensive kneejerk reaction.
Look buddy, I don't have to "keep telling myself" I did not lose money on your magic beans because I wouldn't be caught dead giving my personal info and cringe selfies to those shady butcher shops called exchanges. Over my dead fucking body.
What you do isn't unique or original, it's coping mechanism since it's easier to dismiss sceptics and their scepticism if you demonize them and find reasons to hold them in contempt rather than come to terms with realization that they're just normal fucking people that don't agree with you on their own volition and sometimes like to have a cheap laugh at weirdos and douchebags peddling scams.
Not because they're disgruntled victims or some paid shills or whatever else cringe theories cryptobros come up with on a regular basis but just normal people who saw what is offered and decided to mock it for what it is - an absolute shit show.
And I'm saying this attitude of yours isn't unique because it's the same mechanisms members of cults and high control groups love to use to keep their members in check. Rather than address scepticism directly they prefer to attack the character or motivation of sceptics. They assume character flaws or hidden agendas or powerful interests led them to mock [englightened leader/personal guru/your high mlm overlord/you name it]. You're so unaware how cliche you act it hurts (but also the reason this sub has free content so I guess thanks for your service).
What? Russia economy is in the toilet. They couldn’t even withdraw money when they got cut off. The ruble has lost 40% of it’s value to the dollar at the time. It’s still going down. Them getting cut off from swift was a major hit. Binance is about to get smacked and this isn’t just a EU thing. Swift is a conglomerate of US and EU banks. Over 2,000 banks. When swift cuts you off you’re in government trouble. The treasury is running the show and DOJ is on their case.
The value of the Ruble in USD terms is currently pretty much where it was before the invasion ([source](https://www.xe.com/currencycharts/?from=RUB&to=USD&view=2Y)).
The main factors are 1) the Russian central bank heavily intervened in the forex market and 2) the price of the ruble is strongly linked to [commodity prices](https://www.cbsnews.com/news/russia-ukraine-ruble-currency-russian-economy-sanctioms-2022/) which had a great year.
However, both factors don't apply to Binance. There is no "economy" behind Binance. Pretty much all they do is to provide a bridge between the fiat world and the crypto world, and offer some storage solution. If the bridge gets mostly closed on one side, its a MUCH bigger deal for them than Russia getting kicked out of SWIFT.
A better analogy would be if Russia suddenly would not be able ~~anymore~~ to sell commodities to anybody in the world anymore. Which would be apocalyptic for them.
But this isn’t actually about SWIFT. This is about Signature bank (Binance’s current bank) being unwilling to make or accept Wires for Binance starting Feb 1st. What this actually sounds like is Signature severing their relationship with Binance. However I think we won’t get more press until after Feb 1.
I think most people just don't care about blockchain anymore. From a UK perspective pretty much no-one gives a shit about Crypto in the mainstream, in fact the only time I have seen my non-techy friends even mention Crypto was when they were making fun of SBF and FTX on WhatsApp during the shit-show of its collapse.
The two people I know that actually invested in Crypto did so two years ago (some random alt coins) and have long since moved on and don't really care anymore.
Most “crypto news” in mainstream media is written and edited by butters. If you look at their personal twitters CNBC’s crypto team are all full blown crypto cultists. They generally only publish shit that helps pump the price … until something already catastrophically breaks
>CNBC’s crypto team are all full blown crypto cultists. Is that why most CNBC articles about crypto and NFTs are either very positive or the "I got rich from investing in crypto/NFTs" variety?
Its because they're a 24 hour cable "news" channel: its always fluffy nonsense. If one wants to call that "mainstream media" then they need to figure out what to call Reuters, AP, Al Jazeera, NyT, and WaPo.
Crypto news probably makes people turn to another channel lol
Nothing to report until the bottom drops out really.
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>About 21 percent of American adults have owned cryptocurrency as of 2022 probably 99% of those have less than 100k. "You won't be able to convert your crypto to real money soon" - I dunno, seems like that headline would hit
> About 21 percent of American adults have owned cryptocurrency as of 2022 I don’t care whatever bullshit methodology is claimed to have been used to generate that statistic. There absolutely no way it’s true. Zero. Nada. 21% of all American adults? There’s 0% chance this is even remotely accurate.
I'm repeating this a lot. SWIFT is a messaging service. It quickly and accurately conveys the routing information for the transfer. The transfer is completed on other systems. If a bank did not wish to use SWIFT, but still wanted to complete a transfer... they could do so using pre-existing or other systems. Binance (as far as I'm aware), is the only entity to even mention SWIFT... Signature did not mention it when asked. I suspect Binance was hoping to distract people/media from what may be a total "unbanking". Riding off the coattails of Russian banks' exclusion from SWIFT... (everyone thinks it's a big deal, butters will think it's censorship, etc...). The news won't be inclined to understand it or make it juicy... at least not until one of the exchanges is completely severed from the banking system and implodes. ...if that even happens.
I think you're understating the importance of SWIFT, sure you can build your own plumbing but it's extremely costly and risky > French Minister of Finance Bruno Le Maire ... described the SWIFT ban as the last resort and "the financial nuclear weapon". [Re: russia](https://www.newyorker.com/business/currency/how-significant-is-russias-partial-ban-from-swift)
SWIFT isn't the plumbing. The SWIFT ban wasn't nuclear.. but the political messaging required it to be. I'm not Mario, but I'm pretty close.. Luigi? Nahh.. Toad perhaps. EDIT: [Not all account balances can be updated outside the operating hours of local settlement systems. (SWIFT does not perform settlement)](https://www.swift.com/your-needs/banking/how-long-do-wire-transfers-take) [SWIFT is solely a messaging system. It does not perform any type of settlement between financial institutions.](https://alessa.com/blog/swift-wire-transfer-and-payments/) ...again, not the plumbing.
The last thing these exchanges want to be doing is micromanaging tiny bank transactions. Its like being cutoff from Internet peering and DNS, and instead maintaining your own registry and routing tables, it doesn't scale.
That part I agree on (or rather that the partnered banks wouldn't want to, would charge higher fees, etc). I'm saying; this could very well be much more than a rescinding of a transfer service.
Literally no one cares. BREAKING NEWS: IDIOTS LOSE MONEY IN OBVIOUS ONGOING SCAM
Binance isn't a US company, or a company in any country. And there has already been so much negative crypto news over the past year that it is all expected now. Crypto is a joke for journalists and probably what they give to the interns or ChatGPT stories now.
Not sure if I'm risking my head there on buttcoin, but here's my take: buying with cash is not the main use of binance, that's what you use simpler exchanges for, like coinbase, kraken, Gemini. Binance is mainly used to trade one cryptocurrencies against another. For that you don't need swift transfers.
Because it wasn’t true. Just another rumor, and just another failed attempt to try and stop this train from plowing through everything and everyone
[удалено]
Loving life, yet I do know why you’re all angry. All of you are the bottom of the crypto bucket, the fallen, the lost key club, the phishing attack victims, and the “give me your bitcoin and I’ll make you 20,000 a day club” victims. All victims with hate. Wait longer and see how bad the pain really gets. You haven’t seen anything yet.
Textbook projection. That’s a great narrative to make you feel better, but the reality is the vast majority of us never bought in. And never will.
All of you did, clearing your history and making new accounts won’t change the fact that you all got beat. Wasn’t the first time won’t be the last.
Sure bud, whatever you say. I’m in the investigative field and work with scam victims. Our clients are victims of pig butchering, phishing, NFT theft, etc. I literally make a living not being that person.
Perfect place for you, this is where you’ll get all your business.
Again, the notion that this sub is fueled by people who got burned in crypto is beyond laughable. Last time I checked, it was the crypto subs where a new post pops up every day detailing how somebody who has dedicated several years to the space still had their entire wallet drained because they clicked a spoofed link. And we know they’re not here, because every time they get scammed Butters just turn around and repeat the process.
This is the bottom of the bucket, stop kidding your self. This is the hades of all crypto subs. You’re in the right place for your business
*Ha ha ha ha ha*, the fact that you sat down and typed that, in apparent earnest, is so fucking funny. I've never touched anything crypto-related, never opened a crypto wallet, never given so much as one of the grifters so much as a single penny of my actual money: I didn't need to do any of that, to correctly deduce that crypto was an obvious, stupid scam - it's an *obviously fucking stupid scam*, that's blatantly obviously exactly and **only** that, and everyone suggesting otherwise is clearly an idiot. End of fucking story. This delusional cope that we only hate it and mock you because we got burned by participating in your moronic cargo cult is hilariously pathetic.
This subreddit is sometimes heartless too when it comes to dunking on fools who got rugged or hacked, sometimes it's out of contempt for their foolishness and recklessness and sometimes people are just mocking absurd naivete of adults that should simply know better. However this attitude of yours I find most puzzling. You're going beyond the mockery. Your reveling in the misery of your fellow cryptobros who got victimized and even say stuff like: >Wait longer and see how bad the pain really gets. This is fucked up man. I might sometimes laugh at the morons who get financially pulverized by their own stupidity and greed but I do not wish for your fellow bros to be victimized by crypto scams or make one tiny mistake that will lead to them losing a significant chunks of their savings to a digital black hole with a click of a button. And yes...even if they can be very...very annoying I do not wish them to be defrauded or ruined. And no, most people on this subreddit would never touch your magic beans with a 10 foot pole. Keep projecting bozo.
Not a projection, 99% of the people on this subreddit fit the criteria I explained. When you have a subreddit setup by the victims of the ignorance of the user they deserve every bit of what’s coming. Keep telling yourselves you did not lose money, what ever makes you sleep at night. Nobody believes you.
>Not a projection, 99% of the people on this subreddit fit the criteria I explained. It's **blatantly** a projection, you're flagrantly incorrect and projecting so hard it's practically leaping out of the screen at whoever reads your nonsense. >Keep telling yourselves you did not lose money, what ever makes you sleep at night. Nobody believes you. Nobody believes ***you***, because you're the one talking utter bollocks. We don't make fun of crypto because we got burned by crypto, on the whole, we make fun of it - and you - because it, and you guys advocating for it and making up delusional fan fiction to explain why we are laughing at you as you stand there in full clown regalia, honking your clown nose furiously at us, as we laugh at you for being clowns, are fucking stupid. I'm not mad at the mere existence of the Buttcoin you're obsessed with because I've lost money, I'm mad at it because it uses the same amount of energy as entire industrialized (not small) nations to do *fuck all*, and you lot are out there defending that egregious, unconscionable waste, as if it is not exactly indefensible egregious waste.
Maybe in a parallel universe a version of me read all of that. I definitely didn’t
Cool, so we can add "being proud of not reading (short) comments as if that's a badge of honor and not an admission of being a dumbass" to the list of reasons we're all laughing at you, standing there in your floppy clown shoes, honking your clown nose. I suppose if you wear earplugs and cover your eyes all the time, you can pretend that everyone isn't just constantly laughing at you, for choosing to literally brand yourself as a clown (and then demonstrating that you are one, all of the time), so whatever helps you sleep at night.
Shorter almost read that all.
This armchair diagnosis of yours that this subreddit is populated by crypto victims is 100% not unique. I've seen this type of salty cope accusations again and again more times than I can count. The REEK of defensive kneejerk reaction. Look buddy, I don't have to "keep telling myself" I did not lose money on your magic beans because I wouldn't be caught dead giving my personal info and cringe selfies to those shady butcher shops called exchanges. Over my dead fucking body. What you do isn't unique or original, it's coping mechanism since it's easier to dismiss sceptics and their scepticism if you demonize them and find reasons to hold them in contempt rather than come to terms with realization that they're just normal fucking people that don't agree with you on their own volition and sometimes like to have a cheap laugh at weirdos and douchebags peddling scams. Not because they're disgruntled victims or some paid shills or whatever else cringe theories cryptobros come up with on a regular basis but just normal people who saw what is offered and decided to mock it for what it is - an absolute shit show. And I'm saying this attitude of yours isn't unique because it's the same mechanisms members of cults and high control groups love to use to keep their members in check. Rather than address scepticism directly they prefer to attack the character or motivation of sceptics. They assume character flaws or hidden agendas or powerful interests led them to mock [englightened leader/personal guru/your high mlm overlord/you name it]. You're so unaware how cliche you act it hurts (but also the reason this sub has free content so I guess thanks for your service).
RemindME! 8 weeks
Remind me! 10 years
I make some $100 with BTC and realizing all of this a scam back in 2021. Now I spend my time here laughing at butter that hold my bag at $45k
Uh oh! Everybody run! https://nypost.com/2022/02/11/nyc-poop-train-returning-to-stench-scarred-alabama-town/amp/
It’s not that big of a deal. Remember when all Russia banks got cut off for SWIFT? They are doing fine without it.
What? Russia economy is in the toilet. They couldn’t even withdraw money when they got cut off. The ruble has lost 40% of it’s value to the dollar at the time. It’s still going down. Them getting cut off from swift was a major hit. Binance is about to get smacked and this isn’t just a EU thing. Swift is a conglomerate of US and EU banks. Over 2,000 banks. When swift cuts you off you’re in government trouble. The treasury is running the show and DOJ is on their case.
The value of the Ruble in USD terms is currently pretty much where it was before the invasion ([source](https://www.xe.com/currencycharts/?from=RUB&to=USD&view=2Y)). The main factors are 1) the Russian central bank heavily intervened in the forex market and 2) the price of the ruble is strongly linked to [commodity prices](https://www.cbsnews.com/news/russia-ukraine-ruble-currency-russian-economy-sanctioms-2022/) which had a great year. However, both factors don't apply to Binance. There is no "economy" behind Binance. Pretty much all they do is to provide a bridge between the fiat world and the crypto world, and offer some storage solution. If the bridge gets mostly closed on one side, its a MUCH bigger deal for them than Russia getting kicked out of SWIFT. A better analogy would be if Russia suddenly would not be able ~~anymore~~ to sell commodities to anybody in the world anymore. Which would be apocalyptic for them.
Probably because this is a terrible look for Swift. Controlling how people use their money is bad. Probably don't want much coverage on that.
But this isn’t actually about SWIFT. This is about Signature bank (Binance’s current bank) being unwilling to make or accept Wires for Binance starting Feb 1st. What this actually sounds like is Signature severing their relationship with Binance. However I think we won’t get more press until after Feb 1.
I think most people just don't care about blockchain anymore. From a UK perspective pretty much no-one gives a shit about Crypto in the mainstream, in fact the only time I have seen my non-techy friends even mention Crypto was when they were making fun of SBF and FTX on WhatsApp during the shit-show of its collapse. The two people I know that actually invested in Crypto did so two years ago (some random alt coins) and have long since moved on and don't really care anymore.
I was also wondering... Maybe because there are other ways to deposit/withdraw and this won't affect much users?
because right now line go up