The Market Ticker
Commentary on The Capital Markets- Category [Flash]
Logging in or registering will improve your experience here
Main Navigation
Full-Text Search & Archives

Legal Disclaimer

The content on this site is provided without any warranty, express or implied. All opinions expressed on this site are those of the author and may contain errors or omissions. For investment, legal or other professional advice specific to your situation contact a licensed professional in your jurisdiction.

NO MATERIAL HERE CONSTITUTES "INVESTMENT ADVICE" NOR IS IT A RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT, INCLUDING BUT NOT LIMITED TO STOCKS, OPTIONS, BONDS OR FUTURES.

The author may have a position in any company or security mentioned herein. Actions you undertake as a consequence of any analysis, opinion or advertisement on this site are your sole responsibility.


Market charts, when present, used with permission of TD Ameritrade/ThinkOrSwim Inc. Neither TD Ameritrade or ThinkOrSwim have reviewed, approved or disapproved any content herein.

The Market Ticker content may be sent unmodified to lawmakers via print or electronic means or excerpted online for non-commercial purposes provided full attribution is given and the original article source is linked to. Please contact Karl Denninger for reprint permission in other media, to republish full articles, or for any commercial use (which includes any site where advertising is displayed.)

Submissions or tips on matters of economic or political interest may be sent "over the transom" to The Editor at any time. To be considered for publication your submission must include full and correct contact information and be related to an economic or political matter of the day. All submissions become the property of The Market Ticker.

Considering sending spam? Read this first.

2021-06-07 17:51 by Karl Denninger
in Flash , 712 references
[Comments enabled]  

Well well look what we have here.

The FBI "recovered" most of the Colonial cryptojack ransom payment.

How?

They served a seizure warrant on an exchange in the United States.

Which had the bitcoin at it.

Which means it wasn't Russia-Russia-Russia, was it?

Likely the BTC was at Coinbase, since the location is identified as "Northern District of California" although that's speculation.

You won't convince me that Putie-boy hacked Colonial (nor any Russian group associated with him) and had the funds sent to a US custodial account and then left them there instead of transferring it somewhere outside the US originally (BTC is global, after all) and then immediately moving it offline into a "hard" wallet where you would have to obtain the physical hardware.  Any "state-sponsored" entity would have done that within minutes of the transaction occurring.

In other words The Feds lied.

Again.

Next question: "Know Your Customer" law applies to US custodians and exchanges. So who was it held on behalf of?  "I don't know" is a bad answer by the way.

PS: If an immediate indictment against whoever held that account or the custodian themselves as accessories to the crime is not forthcoming then my presumption changes -- within days -- to this was not a "hack" at all, it was an internal attack by our own government against Colonial.  Why?  Because KYC law is clear and so is where they seized the Bitcoin, so either the person(s) responsible are known and get busted immediately, the custodian gets busted for knowingly engaging in money laundering and as an accessory, or the government did it.

View this entry with comments (opens new window)
 

2021-05-19 09:19 by Karl Denninger
in Flash , 226 references
[Comments enabled]  

BitCON heads for the toilet and........ heh, how come the Dork, the ****-n-Piss, the NastyDac and the BakedRusset all are collapsing?

Hmmmm....

You know that shouldn't happen, right?  What does BitSCAM have to do with the forward business prospects for, oh, General Electric?

Nothing.

Now Musk's Folly, on the other hand...... oh, how much of that garbage does he have on the firm's balance sheet?

What's it "worth" now?  The same it was worth originally despite what he paid for it: ZERO

People never learn.  As I pointed out in my interview on PWG the other day (which you can find here) at least tulips are pretty.  All BitCON does is raise global temperatures, presuming you believe that steaming pile of crap.  Isn't it amusing how the so-called "woke" generation is involved in so-called "DeFi" crypto games and yet all said games turn higher forms of energy, specifically electricity, into its most-base form (that is, HEAT) in very large quantities, all on the premise that some greater idiot will pay more than what you did.

At least with masturbation you (hopefully) get personal satisfaction out of it at the end. 

View this entry with comments (opens new window)