GM. This is Daily Squeeze – your crypto fruit carrier, delivering a basket of blockchain goodies right to your digital doorstep.
🥸 HBO is releasing a documentary about Satoshi Nakamoto.
🤖 AI broke a computer.
🍊 News drops: the $56M sale of a CryptoPunk NFT was probably a marketing stunt, a guy sued his investment firm and advisers after losing $415M + more
🍍 Market flavour today
The crypto market’s showing signs of life today! We’re seeing some green shoots, with the Fear and Greed Index ticking up slightly to 41. Still in “Neutral” territory, but hey, baby steps, right?
Big banks are chiming in on Bitcoin’s prospects. Standard Chartered sees potential for a dip below $60K due to Middle East tensions but considers it a buy-the-dip opportunity. J.P. Morgan suggests geopolitical risks could boost Bitcoin’s appeal. While gold’s been outperforming Bitcoin recently, Bitcoin’s still up 120% over the past year compared to gold’s 46%.
Here’s an interesting tidbit: Bitcoin’s dominance in the crypto market is growing, now accounting for 58% of the total crypto market cap. This increase is largely due to altcoins experiencing even steeper drops than Bitcoin.
Keep your strategy flexible and your coffee strong. In this market, adaptability is your best friend. After all, it’s more unpredictable than a cat in a room full of laser pointers. 🐱
🥸 Satoshi Nakamoto face reveal?
This person sparked a revolution, built an empire, and inspired a global movement—all while staying in the shadows. This person is Batman.
Satoshi Nakamoto is pretty cool, too, when you think about it. Created Bitcoin on a random Saturday, reshaped finance, gave people control over their money. And like Batman, no one really knows who Satoshi is… yet?
On October 8, HBO is dropping Money Electric: The Bitcoin Mystery, a new documentary directed by Cullen Hoback, known for his investigative deepdives. And with this movie, Hoback promises to answer some questions regarding the biggest crypto mystery—who is Satoshi Nakamoto?
The trailer hints at interviews with names like Adam Back, a cryptographer who was once rumored to be Satoshi himself (which he denied). This man was emailing Nakamoto back in 2009 when Bitcoin was created. The OG.
If this documentary actually reveals Satoshi’s identity, well… FINALLY. But at the same time, do we really want to know?
Imagine finding out there’s someone out there walking around town with 1.1 million BTC (like $67 billion) and with the power to cause a huge storm in the market at any moment.
Plus, we’re investigating a person who’s been hiding for years, and definitely not without reason. If their identity is revealed, they’re definitely gonna be in some serious danger. But that’s our society for ya—it’s always “who is Satoshi” and never “how is Satoshi”…
Nonetheless, whatever ends up on the screen, there’s one thing we can all agree on—we better not see Craig Wright.
🤖 AI: 1, Computer: 0
I thought I was mentally prepared for the day AI would just take over, but I didn’t expect it to happen so soon. Lemme tell you what happened to Buck Shlegeris, the CEO of Redwood Research.
Shlegeris asked his AI helper running on Claude to connect to a different computer over a network using SSH (basically allowing you to control your computer remotely) because he didn’t know the IP address of that computer.
He just let the AI do its thing and went on with his day. Little did he know it was gonna go stupid, go crazy.
The AI found the computer, connected to it, and suddenly turned into Dora the Explorer. It started checking system info and updating a bunch of software, including the Linux kernel, which is like the brain of the operating system.
Things got chaotic when the AI got frustrated about the update process taking too long and started investigating why it was slow. After the update finally finished, it realized the new software wasn’t active yet, so it changed the computer’s startup settings.
And boom—after all that, the computer was toast to a point where it wouldn’t even start anymore.
Lesson of the day? Never underestimate AI.
📰 News drops
🤑 The Punk #1563 NFT was sold for around $56M, making it the most expensive CryptoPunk ever. However, crypto commentator 0xQuit thinks it was more of a marketing stunt for a memecoin than a real sale.
💼 PayPal made its first corporate payment with its own stablecoin, PYUSD. The transaction was sent to their auditing firm, Ernst & Young, through SAP’s digital currency platform.
🇸🇻 El Salvador’s decision to make Bitcoin legal tender is still getting criticized by the IMF, which is urging the country to reduce how much the public is exposed to the cryptocurrency. They recommend tightening up regulations first.
⚖️ A guy is suing his investment firm and advisers for not giving him proper advice while he made risky trades. He flipped $88K into $415M, mostly from Tesla stocks and options—then lost every bit of it.
👋 Coinbase is removing stablecoins that don’t comply with MiCA regulations in the European Economic Area by the end of the year. This means saying goodbye to Tether’s USDT.
🥸 Nunchuk’s new Decoy Wallet feature lets you set different PINs for your main wallet and a fake one. So, in a threatening scenario, you can unlock the decoy wallet while keeping your actual funds secure.
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