Dave - Cryptocurrency Enthusiast
On the Su Zhu and his $50 million boat purchase reports, Vitalik Buterin casts some doubt. The co-founder of Ethereum recently discussed the morality of the wealthy spending money on excess in one of his tweets.
“I wish to transform the world into the Yudkowskian ‘Dath Ilan’ paradise, where the greed of the wealthy is channeled towards promoting public goods rather than useless zero-sum waste.” In this case, he's alluding to the mythical Dath Ilan, a parallel planet imagined by author Eliezer Yudkowsky. According to him, in this paradise, wealthy individuals would use their wealth to fund public goods rather than useless zero-sum products.
The discussion was sparked by claims that Su Zhu had bought a $50 million boat to entice investors despite his current financial difficulties.
Buterin claims that there are "far more noble methods than buying a superyacht" to spend $50 million "to impress people." He suggested that joining the Gitcoin awards, a fundraising initiative for web3 businesses, might be a better option.
Buterin was also in favor of honoring Gitcoin contributors with "big, stunning statues in the metaverse." Regarding Su Zhu's purported $50 million boat purchase, the crypto Twitter community has offered a variety of perspectives.
There are several reports about the yacht on Twitter. Su Zhu exploited the boat purchase to impress investors, however according to @FatManTerra, the yacht was really purchased using borrowed funds, and Su Zhu was unable to continue making payments for it.
If you want to start investing in cryptocurrency yourself, but don’t know how to buy Bitcoin online, we recommend checking out a trusted Bitcoin broker – BCBitcoin. It offers a platform where you can buy and sell cryptocurrency, as well as safely store your coin holdings.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards