Cryptocoin lovers, we love you, hold the line baby!! Times seem tough and things look rough, that just means we are OVER THE TARGET AH HA HA HA HA!! Ouch f-ck ouch ow $#(#$*#(& ohhhhh this hurts.   Bye bye Genesis.  

Sammy's implosion is STILL hilarious, tho, mostly because he was in with all the right crowd!!!  Sammy was playing footsie with Congress members!!  Leading off panels with the head of the fed!  Getting stage time with Tony and Bill!!  Couldn't  get Sammy off the phone with Gary!!  CFTC about to hand SBF a regulatory monopoly!!   "SBF" was the coolest of the cool crowd, BLOWING KISSYS with Maxine!!!  Sammy's polycue in law CEO /  lover was the whiz kid DAUGHTER of the central MIT brain trust that writes LAWS for  Gensler!!!

It's SO funny!!  and NOW, watch the establishment try to whip around and blame it all on CRYPTO. AR ar ar ar ar!!!   Here's the FT, KEEPING the crypto bad news on the FRONT PAGE!!! TLDR:  All the right people loved Madoff, TOO!!! 

Today in the pink lady!!  Monday all over the world!! Wearing our full face helmets, buckled up?? Let's GOOOOOOOO 

TLDR:  One sentence of news - FTX owes creditors 3 bn.  Then pure agitiprop.  Some ex bureaucrat blathers away, calling for crypto reghammering.   Sheila used to blather for the FDIC.  The corrupt quasi governmental ratings agencies and Congress, along with crooked auditors CAUSED the 2008 crash!!! The FDIC never did CHIT to stop it,  or the also government caused thrift crisis before it.  Nor did the FDIC do anything meaningful AFTERWARDS, other than chop up the corpse of WAMU.  

Now Sheila is on the board of prototype CBDC stablecoin  chitcoin Paxos, so the FT thinks we should listen to more of her blather.  Buried in the last line is the truth that should have been the headline.  "Shut these other guys down" sez Sheila, referring to all the other stablecoins.   Yeah, tell us what you really think.   Sheila is a piece of work.  This week, she said it's just " funny money in the ether with speculation."    OK, we don't care anymore what you do what you say.  We guess y'all won't be contributing a lot of cutting edge trust free contract code law to Github anytime soon. 

Why does Sheila call to ban the other stablecoins?   cuz Paxos ain't gonna take off any other way!!!  Paxos market cap is about a billion, a zit on the arse of Tether, USDC, and BSUD.  Even  DAI has 5x Paxos on market cap.   Ah ha ha, Paxos is beneath APE coin!!!  Paxos is #41, Terra Luna Classic is #43 ar ar ar!!  When Paxos locked up  17 million when the US gummint told it to, that was about 2% of their total market cap!!!!  We don't see the world embracing them now!! Unless, when your stablecoins are in a rotten gummint loved CEX that's locked up - is THAT the time ya want them locked in a hard fork as well???  Ah ha ha - what's the difference, all your money should sit with bankruptcy lawyers for the next ten years like Mt. Gox?  Or maybe you or a hacker can sneak it out first??  Hobson's choice ar ar ar!! 

It's funny, we did not even notice that CBDC move by Paxos, because hah no-one notices anything about Paxos.  Dear readers know it was funny that CIrcle USDC lost big on market share to BUSD and USDT after THEY self-censored.  Maybe we are whistling past the graveyard, cuz the rumors are flying again about Tether.  But we have heard all that BS before!!!  & UDST survived a ten billion bank run!!  

Two other repeated agitprop points here:  one, should we worry about reghammering legitimizing crypto?? Please hush. Oh look, crypto = payday loans.  FU!!! 

Two:  there was an awkward pause when senators asked who is monitoring FTX.  Hey THAT awkward pause was NOT about jurisdiction.  THAT was cause Sammy and Gary and Janet and Maxine & Congress and MIT are all SOOOOO FAR UP EACH OTHER'S ARSES!!!!!  ar ar arOOOO

Let's go old school.  First off, five of five FU's for this tripe.  Next, here's our reading music.  Yeah, we know the very last of our  hard earned life savings are going down the tube as we speak.  Ya know what?? WE STILL DON"T CARE Y'ALL WILL SEE!!!! TLDR:  this is a cover of a better, seminal Subhuman's song, but this video is more fun than any we got from the Subhumans. & we need fun. 

ah ha ouch ow yow owie. Moving right along!! 

TLDR: A big long smartish  "why don't we just ban it all!!??" 

It's 2008.  It's the dotcom bust.  It's 1929. It's almost too big to fail!!  

The total lack of walls between Almeda and FTX is not just insider trading!! It's when big banks trade AND BUY UP commodities.  Hey it's the Goldman Sachs aluminum scandal of 2013!! Ar ar ar that's TRUE!!!  It's Amazon, a trading platform AND a producer, ruh roh!! 

Let's laugh at the GS scandal.  Massive tradfi corruption funnies!!  GS bought all the warehouses for aluminum, then #($&*#  everything up to where the US consumer lost FIVE BILLION.   5,000,000,000!!!! Delivery times went up 20x.  Goldman charged rent and speculated but the funny part?  The industry required 3,000 pounds a day move out of the warehouses!!! SO $#$(#*&$#@( Goldman moved the metal back and forth between the same warehouses in the same trucks four trips a day for years!!!  Meanwhile dear readers know the %#(*&$#$(*&@# corrupt London Metals Exchange!!! They  got 1% vig a month in rent, so they never fixed CHIT!!!   How bout the ESG footprint of THAT!! 

FTX had only one billion liquid to pay nine billion in withdrawals.   Hey, it's pretty funny, US banks only held 8% of capital against loans in 2008, even now, only 13%!!! Ah ha. 

The FT then misses the point.  How could any investor hope to see into such a black box (as the crypto market?) Answer - Merkle tree POF.  Even before that, blockchain analysts SAID that FTX was a pile of BS.  It's just that noone listened cause Sammy had the political MACHINE all oiled up.  

Further jumping the shark, the FT splains the finance industry funnels productive savings into a productive environment.  Oh yah?? explain paper gold. Explain Wirecard. EXPLAIN INFLATION AND GILTS!!! 

 It wasn't the lack of regs that caused 2008, it was corruption and the stupidity of many laws from Congress creating semi-public companies that FLEECED the country. Privatize the gains, make the public eat the losses, VERY old game. 

Here we go: Why do we allow it?  Here the FT also proclaims love for CBDCs.   Noone would trade crypto if not for easy money.  

OK we are out.  An enlightening article, until it wasn't.   OK fine, ban it all.   There is a limit to how much anyone cares about that.  Banning the UK pound ten or fifty or a hundred years ago would have saved a lot of people from being hurt bad, ar ar ar !!  Let alone the serious bad news fiats out there.  

Next! the main attraction in print!!  That big teaser, Crypto is crime headline on the front page!! It's the Henry Mance interview that's cool who's he?? 

Oh no, no, no, stop.  Henry Mance writes features, he's on twitter right now on about the best second hand furniture shops in London.  He's never had a crypto thought in his life, we don't care AT ALL what he thinks!!  Could it get worse?  YES of course, the article is ACTUALLY about overexposed Steve Diehl, the failed Haskell programmer ah $#@(*$&@#(@#$& we would not have even turned to this page if we knew that!!  Stevie's irrelevant blog is now in book form!!  Here's a pic of Stevie, it's the easiest job in the world lol!!! 

Eat a whole cheesecake and take a nap, Stevie!!  oh wait, HERE's StevieTLDR: dear readers know we despise Stevie's views.   Stevie's "engineer" life was as a Haskell jockey, which means the ODDS ARE VERY GOOD that he has a grand total of ZERO code in use today.  Ar ar ar no seriously.  Yes, Stevie worked at a hedge fund that went under trying to crowdsource algos.  He then worked at Adjoint, who disappeared. Stevie went to the UK, NOT famous for great software.  We challenge anyone not from the UK to name ONE great UK software company.  JUST ONE!! Link below, some say the top software company is an OUTSOURCING shop, ah ha ha !!!   

It's even funnier, on LInkedIN neither of these gigs show up.  Stevie worked as an intern and then a lifer at Continuum. No mention of his obnoxious, one trick pony blog he got a tiny bit of fame on.  Repeating the same stupid things over and over, hey that's OUR approach ah ha ha ha!!

Well, Stevie says he COULDA got rich on blockchain, tho he failed to sell blockchain apps when he tried.  OMG STFU!!!   Coulda woulda shoulda!! 

Anyway, we are too down to play FT anti-crypto narrative copypasta bingo, and that's all we have here.  Crypto is a giant scam, a mirage, it's too slow, unreliable.  The old fake logic BULL$#($&#*(!!  if crypto is volatile, it's not money, and if it IS volatile, it's not money.  Greater fool theory!!   A casino wrapped in lies, reveals our dark tendencies!! Dark money flows, money laundering and crime!! Hah, we feel that way about Goldman.  Oh, but Stevie's so ETHICAL!! ya, like the aluminum scam?? 

whassat, twleve shots?  rookie numbers!! FTX going down is like JPMorgan disappearing in 24 hours NO IT"S NOT QUIT LYING.  JPMorgan is the biggest bank in the world, this was one shady hedge fund and one exchange that was at BEST about 10% of Binance. 

Yes, here we go - COULD IT ALL GO TO ZERO???   Pets.com actually delivered dog food!! Yes, you silly twit, but CRYPTO helped innumerable souls GTFO of the Brazilian Real and other doomed fiat!!  A16Z says web 3 could break the grip of Facebook and Google.  Stevie won't even SAY web3, but he still knows THAT will never happen.  Plus money is already digital!

BINGOOOO thash 17 shots !  Thas good, we are ready to hear a geek call Elon a clown.  FU!!!!!! ya wanna clown show, look in the mirror and ask yourself about rockets!!  18!! ICO's are a cyber attack on the regulatory system!! wow, might be the 18 shots, but TBF that's a newish line of BS.   Followed by Stevie wants to "curtail" crypto as a blow against the post -truth world.  AKA ban it all.  We can think of replies that include the word "blow."   Crypto IS a blow against the post truth world ya swine, trust the math, not the people!!! 19 FUs, FT!!!  The judges all passed out in the low teens!!!   TBF Stevie skipped some of his bread and butter ESG rants,  e.g. crypto burning the rainforest, running an SUV to solve Sudoku puzzles to trade for heroin, y'all remember. 

Next ONLINE!!! Same picture, same BFD story, ground hawg day again, regs calling for regs. TLDR: rehash that FTX was bad.  No chit, stealing client deposits from an exchange to give to a crooked hedge fun is very bad, you can just stop there. 

One intelligent point on top of the rehashes - many are saying FTX showed CEXs are bad, go to DEXs.   Sir John from his lofty perch sayeth nay, indeed nay!! Oh my lord.  Have these @#@#@(*&!!!! no SHAME!!

As a "financial stability au thor rit TAY" yall have just FAILED !!! 100%.!!! Worst inflation in FORTY YEARS!!!!  the GBP and the GIlt market DIED this year, taking Joe Blogg's pension with it!   LOOK at yourself!!! AH HA HA HA HA HA stfu PLEASE!!!  We just feel bad for you now man. 

WE DON"T CARE if you believe in DEXs or NOT, "sir" Johnnie!!!    Go try in vain to fix your failing fiat and leave us ALONE!!!  You already have DONE every nasty thing possible to crypto!! If y'all had let FTX in, THEN you could have made sure they had deposits!!! Instead all of your GBPs trade away on Bitmex, which we used to think was even shakier lol. 

OK, we gotta limp to bed and work for a better tomorrow tomorrow.  We love y'all, it's all gonna be ok, your efforts are the best!! 

Be safe, take care, live to fight again another day, we have no choice!!!  Take care of each other!! 

Peace out, love

Dave

ps please refer a friend: ambassador link: https://www.publish0x.com?a=WZdPKv2bKg