39: $100k Worth of FUD
11 December 2024
Bitcoin at $100K has summoned the FUD swarm — from quantum computer panic to 'national security threat' hot takes. I’m calling out the bad logic, breaking down every attack, and arming you with the facts.
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LINKS:
- Bitcoin has now become MSNBC’s new obsession.
- River: Bitcoin Ownership Distribution
- Top Organizations Disclosing Donations to Fairshake PAC, 2024 • OpenSecrets
- Ripple founder has given more than $11.8 million to Harris campaign
- Kamala Harris turns to Coinbase for crypto campaign donations, CFO reveals
- Since January, $227 billion of Bitcoin has been activated by long term holders, dwarfing the ETF flows by a multiple.
- Tucker Carlson on X: “Roger Ver is facing life in prison for revealing how the US government worked secretly to subvert cryptocurrency and prevent economic freedom.
- 06: Debunking Big Blocker Alternative History
- Google shocks the world with new a chip that could vanquish Nvidia and Bitcoin - YouTube
- Gloria Zhao on Bitcoin Core Devs, Network Security Threats and Will There Be A “Block Size” War II? - YouTube
- Bitcoin News on X: “Satoshi’s thoughts on handling a “massive breakthrough attack,” such as quantum computing rendering SHA-256 encryption ineffective in protecting the Bitcoin network. https://t.co/GBnZ3UpeXN" / X
- MicroStrategy’s $26 Billion Bitcoin Cache Is Larger Than IBM, Nike Cash Holdings - Bloomberg
- Amazon shareholders have submitted a request for the $2.3 Trillion company to explore adding Bitcoin to its treasury.
- Is It ‘Crazy’ for the US to Have a Bitcoin Reserve? - YouTube
- Senate Republicans propose Bitcoin national reserve - YouTube
- Behind Bitcoin’s Rally Is a Simple Fact: Supplies Are Limited - WSJ
- Hawaii local news covers Bitcoin adoption in the state with cameos - YouTube
- The National Center for Public Policy Research has submitted the attached shareholder proposal for consideration at the 2025 annual shareholder meeting.
- China discovers world’s largest gold mine - Egypt Independent
- El Salvador’s Gold Reserves Worth $3 Billion: President Bukele Highlights Economic Potential. – El Salvador in English
- CPI inflation November 2024: Annual inflation rate accelerates to 2.7% in November, as expected
- Russia: MP proposes a strategic Bitcoin reserve
- WabiSabi Vulnerability Allows Malicious Coordinators to Deanonymize Coinjoin Users
- MicroStrategy Poised to Join Nasdaq-100 Index
- Eric Balchunas on X: “$MSTR is likely to be added to $QQQ on 12/23 (w/ announcement coming 12/13). Moderna likely to get boot
- Alex Thorn on X: “🚨 “SELL THE PAST, BUY THE FUTURE”
Crypto Illicit Transaction Volume
- Illicit transactions constituted only 0.34% of the total on-chain transaction volume for 2023
- The total value received by illicit cryptocurrency addresses dropped to $24.2 billion in 2023
Breakdown of Illicit Activities
- Transactions involving sanctioned entities accounted for $14.9 billion, representing 61.5% of all illicit transaction volume analyzed.
- Crypto scams and hacking revenue both decreased significantly, with total illicit revenue down 29.2% and 54.3%, respectively.
Stablecoin Usage
- Stablecoins accounted for the majority of criminal transactions for the second consecutive year, aligning with the recent increase in stablecoin share of all crypto activity.
- Crypto crime in 2023 exceeded $24 billion: Chainalysis
- US Financial Secrecy Fuels Illicit Financial Flows from Environmental Crimes, New Report Finds
- Illicit cryptocurrency transactions global 2023 | Statista
- New report: The 2023 Illicit Crypto Economy | TRM Insights
- Efforts to track illicit financial flows need scaling up – UNCTAD SDG Pulse 2024
- 2024 Crypto Crime Trends from Chainalysis
- The IMF and the Fight Against Illicit Financial Flows
- An In-Depth Look at Crypto-Crime in 2023 Part 1 | Trend Micro (US)
- African Strategies to Combat Illicit Financial Flows | Carnegie Endowment for International Peace
- The Illicit Crypto Economy Report
- Illicit Financial Flows | UNCTAD
- Illicit crypto addresses received at least $24.2 billion in 2023 - report | Reuters
- Balancing privacy and public interest in the fight against illicit financial flows: Lessons from an European Case Study - ScienceDirect
Cash Illicit Transaction Volume
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According to the UN Office on Drugs and Crime
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the estimated amount of money laundered globally in one year is 2-5% of global GDP
- or $800 billion - $2 trillion in current US dollars.
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The US Treasury estimates that about $300 billion is laundered annually in the United States alone , much of it through cash transactions.
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