TL;DR: CoinSpice scours the Twittersphere to shine light upon the top crypto tweets of the week. Bitcoin legend Charlie Shrem still feels the impact of his felony. Lightning Network is officially half a decade old. The @Bitcoin Twitter account is getting creepier and creepier, and a lot more in this week’s installment.
#9 Charlie Shrem Denied CashApp
Charlie Shrem has the dubious distinction, after that of a Bitcoin early adopter, of also being among its first felons and certainly its most high profile at the time. In late 2014, Shrem was arrested for alleged connection to money laundering involving the infamous Silk Road site. He ultimately pled to lesser charges and a fine of nearly $1 million, and served slightly over a year in a US federal prison.
8% of the US population and 33% of the African-American male population In the USA can’t pass compliance at most #crypto exchanges, custodial wallets, DeFi companies, stablecoin issuers and redeemers. This is because of previous criminal history.
— Charlie Shrem (@CharlieShrem) February 29, 2020
The rush to embrace legacy finance by certain elements of the Bitcoin community inevitably comes with unintended consequences, especially as they relate to regulations and standard practices. While Shrem reportedly is worth tens of millions, his felony conviction of a few years back still looms in contrast to his crypto passion at least when he interacts with corporate financial institutions.
“Kinda makes it difficult to bank the unbanked,” he lamented. Some commenters suggested using Square’s CashApp, to which Shrem noted, “I already failed compliance.” He was also counseled to try Coinbase, to which he offered the same basic response.
#8 The Cartel is Probably Cheaper
Annual interest on a Mexican credit card is 67.50%!
The cartel is probably cheaper?
Huge opportunity for crypto and decentralized credit scoring. pic.twitter.com/5WrGiEdvCu
— 𝕄𝕒𝕥𝕥 𝔸𝕒𝕣𝕠𝕟 (@mattaaron) February 28, 2020
#7 Who Even Takes These Influencers Seriously?
So Trace Meyer is now apparently a scammer, magical crypto guys all invested into that ICO on Ethereum a while back, Blockstream is busy pumping "trustless" centralized Liquid because "Lightning doesn't scale"; who even takes these "influencers" seriously anymore? 🤔
— CØ₿RA (@CobraBitcoin) February 28, 2020
#6 Lightning Network Turns 5 Years Old
5 yrs ago today the Lightning Network (LN) whitepaper was released, Feb 28, 2015.
Sadly LN still isn't ready for mass use and yet BTC devs have pushed it as the second layer "solution" to scaling. Clearly this isn't working and has turned into vaporware "just 18 more months ™️." pic.twitter.com/ftYqjIsXBg
— David Shares (@DavidShares) February 28, 2020
#5 The End Game of All the Money Printing
— Naval (@naval) February 25, 2020
#4 @Bitcoin Demands Obedience
And here you go…
— NVK (@nvk) February 24, 2020
#3 Proof of Work Still Dominates
Proof of work (PoW) coins account for 83% of the market cap of all top 100 cryptocurrencies (Cap > $50M).
That number goes up to 87% when you remove stable coins and exchange tokens, which are really digital securities.
Even if you remove BTC, they’re 59% of all others.
— David Grider, CFA (@David_Grid) February 24, 2020
#2 @Bitcoin Account Gives Me the Creeps
I don't know the story behind the @bitcoin account, but it gives me the creeps. The fact that no one knows the story, is probably what creeps me the most.
The uber-gung-ho about *property rights* crowd, are (I assume) looking the other way, out of FEAR, which is pathetic. https://t.co/Pz7120mS9k
— Paul Sztorc (@Truthcoin) February 24, 2020
#1 That’s History Right There
— Sal the Agorist (@SallyMayweather) February 22, 2020
#0 BTC OG Has No Balls
— Cindy Wang (@crypto_cindy) February 29, 2020
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