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- Peter Todd Is Satoshi? Not So Fast.
Peter Todd Is Satoshi? Not So Fast.
PLUS: FTX Refunds In Progress, SOL 5x From Here?
Welcome fren,
State of the Market. Bitcoin Flatlines, Memecoins Flop, and FTX Users Get a Refund (Sort of) 💸
Nasdaq’s Up, Gold’s Down, and Bitcoin’s Just...There. While the Nasdaq tech stocks were partying hard with a 1.5% rally and gold took a 1.5% nosedive, Bitcoin decided to chill at $62,000—like a friend who shows up to the club and just stands in the corner. 📉📈
“Don’t mind me, I’m just here for the vibes,” says Bitcoin, while everyone else around it is either losing their minds or cashing in.
Meanwhile, the memecoin circus (PEPE 🐸 and Dogwifhat 🐕🦺) saw their prices take a 5% dive. Apparently, the novelty of coins based on internet memes has worn off faster than the latest TikTok dance craze.
Analysts are still laser-focused on macroeconomic events like the Israel-Iran tensions, the U.S. Federal Reserve rate cuts, and China’s stimulus package. All this high-stakes geopolitical drama, and Bitcoin is still sitting there like, "I'm good, thanks."
FTX Refunds Are Coming... But Wait, There’s a Catch 🤑
In other news, FTX creditors might finally see some cash! 💵 After two years of holding their breath, a judge has given the green light for $16.5 billion in cash compensation. Seems like a win, right? But wait! 🛑
FTX users are getting 119% of their deposits back—sounds amazing until you realize the price of Bitcoin, Ethereum, and most cryptos have shot up since the collapse. So, you're technically getting your money back, but it feels like returning a 2005 iPod to someone who knows they could’ve bought Apple stock instead. 🍏📉
But hey, good news! Repayments are set to start within 60 days, which gives you plenty of time to figure out how to explain to your family that you’re still holding onto those Dogecoin dreams. 🐕💭
Until then, liquidity is looking sparse. Maybe the FTX reimbursements will give it the boost it needs? 🤷♂️
Chart of the Day. Bitcoin Reigns Supreme in 2024, Even with a Hiccup or Two 💪
Despite Bitcoin’s moody third quarter, it’s still the best-performing asset of 2024, up a cool 49.2% year-to-date, according to NYDIG. Not bad for something that critics love to declare dead every other year, right? 💀👑
A Rollercoaster Q3 🎢
Now, let's be real—Q3 was not Bitcoin's time to shine. Blame it on the big government BTC sell-offs or those pesky creditor distributions (thanks, FTX 🙄), but the numbers weren’t exactly setting records. Even so, September pulled off a surprise with Bitcoin gaining 10% and breaking its usual "September slump." It’s like the crypto world decided to hit "reverse" on its typical bearish trend—because why not?
Q4: Bulls on the Horizon? 🐂📅
Now, we’re staring down the barrel of Q4, and guess what? The outlook is bullish! Between the U.S. election drama and global monetary policies shifting like your favorite Netflix series plot twists, Bitcoin could be ready for another leg up. 📊🗳️
Still a Portfolio Hero 🦸♂️
Despite Bitcoin’s increasing correlation with the stock market (yes, it's not as independent as we like to think), it still offers those sweet, sweet diversification benefits. It’s like that wildcard in your investment portfolio—just when you think you’ve figured it out, it flips the script and makes you rethink everything.
Most Important News of the Day.
Analyst Geoff Kendrick of Standard Chartered predicts that Solana could 5x by 2025 if Trump wins the presidency. On the flip side, if Kamala Harris takes the win, Bitcoin might outperform Ether and Solana. So, depending on your political leaning, maybe HODL... or not. 🤷♂️
The U.S. Supreme Court has cleared the way for the government to sell off $4.4 billion in Silk Road-era Bitcoin. You know, because who doesn’t love some good ol' crime money auctions? 🏴☠
In a plot straight out of a legal drama, Crypto.com is suing the SEC and its chair Gary Gensler over a Wells Notice. The platform’s pushing back against the SEC’s plans to regulate token sales in secondary markets. Stay tuned—this is about to get spicy. 🔥⚖️
Solana continues its 2024 dominance by accounting for over 87% of all new token launches. Apparently, it's that one overachiever in class that won't stop raising its hand. ✋🏆
A new proposal, EIP-7781, could boost Ethereum's network throughput by 50% by reducing block times. Ethereum's always been the slow and steady turtle, but could it be gearing up for a hare-like sprint? 🐢➡️🐇
Thanks to a surge in AI-driven decentralized applications (DApps), blockchain activity shot up 70% in Q3. The robots are here, and they’re bringing friends. 🤖🛠️
Over $5 million was stolen from Coinbase users in a crafty social engineering scheme. While some funds have been recovered, it’s a reminder: if something seems too good to be true in crypto, it usually is. 🔐🕵️♂️
September saw Bitcoin miner revenues decline despite a rising network hash rate. It’s a reminder that even in the world of crypto, sometimes the math just doesn’t add up. 💻⛏️
Our Daily Pick. Klaytn: The Hybrid Blockchain That Means Business (Literally) 💼🛠️
Ah, Klaytn—the blockchain lovechild of public and private networks, designed specifically for big corporations that want the best of both worlds. Imagine a boardroom meeting where everyone wants to be decentralized but also kind of… not too much? That's Klaytn. And in true superhero fashion, it's merging with Finschia to form Kaia, a new blockchain destined to bring Web3 to the masses, especially in Asia, where everyone and their KakaoTalk account is getting ready to hop aboard the decentralized express. 🚂🌐
What is Klaytn Used For?
Klaytn isn’t just your run-of-the-mill blockchain project. Oh no. It’s basically the Swiss Army knife of the blockchain world, but for businesses. Here’s what it does:
Supply Chain Management: Because, who doesn't love tracking their bananas from plantation to plate in real time? 🍌📦
Digital Identity: Keeping your digital ID safe—because nobody wants their password to be "12345" anymore. 🔐
Payments and Settlements: Making corporate finance as easy as Venmo, but way more high-stakes. 💸💼
Data Sharing: Swapping info with other companies without the "he said, she said." Just straight facts. 📊🔗
Who’s Behind the Curtain?
Klaytn was developed by GroundX, a subsidiary of Kakao—basically South Korea's version of Amazon, Google, and Facebook rolled into one. 🤯 It’s got the tech, the cash, and the ambition to make sure Klaytn doesn't become another "Remember when?" crypto project.
What about its Tokenomics? 🪙
Circulating Supply: 3,803,678,792 KLAY
Total Supply: 5,839,454,136 KLAY
Market Cap: $494,855,802 ranked at #120
Klaytn’s Superpowers 🦸♂️
This isn’t just any blockchain—it’s got powers that would make even Iron Man jealous:
Hybrid Blockchain: Why choose between public and private when you can have both?
Scalability: Built to handle more transactions than your social media feed during a celebrity breakup. 💥💬
Enterprise-Focused: Tailor-made for corporate bigwigs who still want to sound cool by saying "blockchain" in meetings.
Security: Like Fort Knox, but digital. 🔐
Interoperability: Plays nice with other blockchains, because it’s 2024 and everyone should be getting along. 🌍
Use Cases 🕹️
Klaytn isn’t just for supply chains and boring corporate stuff. It’s also taking blockchain to fun places like:
Gaming: Because every game needs some blockchain magic these days. 🎮
Digital Collectibles: Manage your NFTs without the hassle. 🖼️
DeFi: Yes, Klaytn does decentralized finance too. Money 2.0! 💰
Final Thoughts 🎤
Klaytn is basically the Tesla of blockchains—innovative, powerful, and with a touch of corporate class. It’s perfectly poised to bring blockchain to the business world, especially with Kaia on the horizon. But hey, it’s still facing a few roadblocks like centralization and cutthroat competition. Will Klaytn take over the world? Only time will tell, but one thing’s for sure—it’s not backing down without a fight. 🥊
Special Section. "Money Electric" Claims Peter Todd is Satoshi—And Todd Says, 'Not Today, Satan' 👿
Is Peter Todd Satoshi Nakamoto? HBO Thinks So! In its latest attempt to solve the internet’s longest-running game of "Where’s Waldo?", HBO’s Money Electric is pointing the finger at Bitcoin developer Peter Todd, suggesting he’s the mysterious mastermind behind Bitcoin, Satoshi Nakamoto. But before anyone could say, "Get that man a cape," Todd hopped on X (formerly Twitter, for the boomers) to deny it faster than you could refresh your crypto wallet. 🏃♂️💨
The Plot Twist We Didn't See Coming (or Did We?) Directed by Cullen Hoback—yep, the guy behind Q: Into the Storm, which unmasked the weird QAnon stuff—this two-hour "investigation" builds suspense by dragging viewers through a series of red herrings, only to land on Todd like it’s the final season of Scooby-Doo. And surprise! Instead of unmasking the real villain, they leave us all scratching our heads, saying, "Really, him?"
Satoshi or Not? Todd’s reaction? Let’s just say he didn’t bask in the limelight. He practically hit CTRL + ALT + DELETE on the whole idea, denying the claim like he’s been asked one too many times if he’s "that guy" who invented digital money. But hey, why not stir the pot a bit more? Because nothing screams "2024 drama" like a new debate about who’s behind Bitcoin. 🙄
More Theories, More Chaos
The documentary’s bold conclusion? It’s set to send crypto fans into full-blown conspiracy mode. Maybe Peter Todd is Satoshi. Maybe Satoshi is living in the Bermuda Triangle with Elvis and Tupac, sipping Piña Coladas. Who’s to say? 🤷♀️ But Todd seems pretty confident that it ain’t him.
Final Thoughts: Cue the Internet Meltdown For now, the identity of Satoshi remains as mysterious as the contents of a Taco Bell burrito. Will we ever know the truth? Who knows. But one thing’s certain: the internet is going to have a field day with this one, and Todd will probably keep denying it until the Bitcoin whales come home. 🐳