OT: Bitcoin, Altcoins, NFT's & All Things Crypto

[ashokan]

The cartel running DC wants its own digital system to control everyone.
They let crypto run awhile to condition people to digital
They will crackdown eventually


"WASHINGTON—The burgeoning decentralized cryptocurrency market threatens U.S. national security and needs greater oversight and enforcement against money-laundering, the U.S. Treasury Department said on Thursday.

The warning, in a new Treasury report assessing the risk of the so-called DeFi markets, lays the foundation for tougher regulations and punitive action by federal agencies."

Decentralized Cryptocurrency Markets Threaten U.S. Security, Treasury Says

In a new report, the department lays the foundation for regulation, enforcement of ‘DeFi’ markets.

www.wsj.com

 

[T2Kplus20]

BTC to $1,000,000 Bizatches!

 

[jtung230]

BTC to $1,000,000 Bizatches!

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someone Is still paying attention to CW. That’s just dumb.

 

[RUAldo]

The cartel running DC wants its own digital system to control everyone.
They let crypto run awhile to condition people to digital
They will crackdown eventually


"WASHINGTON—The burgeoning decentralized cryptocurrency market threatens U.S. national security and needs greater oversight and enforcement against money-laundering, the U.S. Treasury Department said on Thursday.

The warning, in a new Treasury report assessing the risk of the so-called DeFi markets, lays the foundation for tougher regulations and punitive action by federal agencies."

Decentralized Cryptocurrency Markets Threaten U.S. Security, Treasury Says

In a new report, the department lays the foundation for regulation, enforcement of ‘DeFi’ markets.

www.wsj.com

And this is exactly why DeFi won’t work because aside from regulatory oversight the “risk mitigation strategies” and AML equal transaction costs. So the idea that DeFi is low cost alternative goes right out the window. Compliance and regulation will neuter DeFi.

 

[bob-loblaw]

Bob-law = I’m genuinely curious to get your thoughts on whether a bunch of third-world countries adopting BTC would be a positive or negative? For example, if a dozen undeveloped third world countries adopt BTC doesn’t that devalue BTC and make it less likely that any super-power would ever make the switch?

It's a positive. The more usage the better. And dont mistake usage as countries merely using btc. I define usage as using btc and the Bitcoin Network to transact in native or foreign currencies.

 

[jtung230]

Dogecoin Tumbles. Twitter Ditches Its Shiba Inu Logo and Ends the Memecoin’s Rally.

The meme cryptocurrency tore higher this week after Twitter made its homepage logo that of a Shiba Inu dog. It was a short-lived moment in the spotlight.

www.yahoo.com

LOL

 

[RUAldo]

Dogecoin Tumbles. Twitter Ditches Its Shiba Inu Logo and Ends the Memecoin’s Rally.

The meme cryptocurrency tore higher this week after Twitter made its homepage logo that of a Shiba Inu dog. It was a short-lived moment in the spotlight.

www.yahoo.com

LOL

How much did Musk and his kids make off that pump/dump…

 

[bob-loblaw]

Nothing to see here

Apple's Hidden Bitcoin White Paper the Latest in a Long List of Easter Eggs - Decrypt

The Bitcoin whitepaper can be found lurking in an innocuous file on Apple computers. Here's how to find it.

decrypt.co

 

[RUAldo]

Nothing to see here

Apple's Hidden Bitcoin White Paper the Latest in a Long List of Easter Eggs - Decrypt

The Bitcoin whitepaper can be found lurking in an innocuous file on Apple computers. Here's how to find it.

decrypt.co

No clue how to interpret that because Apple has never been a supporter of BTC and crypto is likely a threat to ApplePay.

 

[bob-loblaw]

No clue how to interpret that because Apple has never been a supporter of BTC and crypto is likely a threat to ApplePay.

Except that it was openly hiring an "Alternative Payments" team 2 years ago.

And it's not threat when Lightning allows the ability to plug into the network. That's the beauty of lightning is that anyone plug in, creating on/off ramps with whatever their platform is; Apple, Starbucks bux, Dunkin, Walgreens, etc. They can all plug in

Ohh 29k Bitcoin today. That's nice

 

[Rutgers Chris]

Except that it was openly hiring an "Alternative Payments" team 2 years ago.

And it's not threat when Lightning allows the ability to plug into the network. That's the beauty of lightning is that anyone plug in, creating on/off ramps with whatever their platform is; Apple, Starbucks bux, Dunkin, Walgreens, etc. They can all plug in

Ohh 29k Bitcoin today. That's nice

*30k

 

[ScarletNut]

*30k

And ETH almost 2k

 

[jtung230]

Winklevoss Twins Lend $100 Million to Their Gemini Crypto Platform

Billionaires Tyler and Cameron Winklevoss dipped into their own pockets to support their crypto exchange Gemini Trust Co., which has faced numerous setbacks during the yearlong market downturn for digital assets.

www.bloomberg.com

got to prop it up

 

[RUAldo]

Novogratz was just on CNBC. Does this guy actually know anything about the technology, adoption, use cases, etc.? All he ever talks about is BTC performance relative to other asset classes. No substance whatsoever.

 

[bob-loblaw]

Novogratz was just on CNBC. Does this guy actually know anything about the technology, adoption, use cases, etc.? All he ever talks about is BTC performance relative to other asset classes. No substance whatsoever.

Very easy solution. stop listening to him :)

Very few in the btc community do. Not sure why you continue to use him as your anti crypto rallying cry

 

[RUAldo]

Very easy solution. stop listening to him :)

Very few in the btc community do. Not sure why you continue to use him as your anti crypto rallying cry

I hear you…but don’t you think it would be nice if a single crypto talking head in mainstream media actually talked about how it will change the financial world and tech instead of simply pumping the numbers? Seriously, even the so-called crypto SMEs can barely articulate why BTC is the future, how Lightening network is a game-changer, etc.

 

[Rutgers Chris]

Interesting turn of events, FTX has “recovered” an additional $5.5 billion of missing assets bringing the total to $7.3 billion. Bullish news for the altcoins it was holding. I personally would rather they go away than reopen.

 

[bob-loblaw]

I hear you…but don’t you think it would be nice if a single crypto talking head in mainstream media actually talked about how it will change the financial world and tech instead of simply pumping the numbers? Seriously, even the so-called crypto SMEs can barely articulate why BTC is the future, how Lightening network is a game-changer, etc.

Jack Mallers - Lightning
Pomp - overall BTC message.
Caitlin Long - Finaancial state of BTC
James Check (Checkmate) - BTC on chain analysis
Dylan LeClair - Overall state of crypto market/trends.
Nic Carter - Crypto and Geo-political affairs
Michael Saylor

There's 7 SME's for you. All are active on Twitter. Also Michael Saylor interviews on YouTube are always a good listen. Just be careful as his interviews often get ripped into spammy YT clickbait videos

 

[RUAldo]

Interesting turn of events, FTX has “recovered” an additional $5.5 billion of missing assets bringing the total to $7.3 billion. Bullish news for the altcoins it was holding. I personally would rather they go away than reopen.

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That lawyer may be looking for a new job soon…

 

[T2Kplus20]

ETH over $2k
BTC over $30k

 

[xWVU2010x]

In what I’m sure is unrelated news, Tether is at the same market cap it was at from the last pump.

 

[Rutgers Chris]

In what I’m sure is unrelated news, Tether is at the same market cap it was at from the last pump.

What’s the connection?

 

[xWVU2010x]

What’s the connection?

Everytime Tether prints the market pumps

 

[Rutgers Chris]

Everytime Tether prints the market pumps

Conversely, couldn’t the market pumping and people stabling gains to usdt be raising the market cap?

 

[xWVU2010x]

Conversely, couldn’t the market pumping and people stabling gains to usdt be raising the market cap?

Tether could just comply to an audit to prove that theory out. They never removed market cap until it depegged at some point last year, so either Tether, a 30ish person operation out of the Caymans holds more capital than Vanguard, or they just create a lot of fake money out of thin air.

 

[Rutgers Chris]

Tether could just comply to an audit to prove that theory out. They never removed market cap until it depegged at some point last year, so either Tether, a 30ish person operation out of the Caymans holds more capital than Vanguard, or they just create a lot of fake money out of thin air.

All true, Im just trying to figure out how that impacts the price of btc, eth, etc. If money is printed and held in tether, it’s not buying other coins.

 

[T2Kplus20]

All true, Im just trying to figure out how that impacts the price of btc, eth, etc. If money is printed and held in tether, it’s not buying other coins.

ETH pumping today.

 

[xWVU2010x]

All true, Im just trying to figure out how that impacts the price of btc, eth, etc. If money is printed and held in tether, it’s not buying other coins.

Wash trading which Binance does according to the CFTC complaint.

 

[Rutgers Chris]

What a frustrating exchange…

 

[T2Kplus20]

What a frustrating exchange…

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Genslar has turned out to be a complete piece of garbage as SEC Chair.

 

[RUDead]

Genslar has turned out to be a complete piece of garbage as SEC Chair.

He sucked as CFTC chair as well. He's like Yellen. Always wrong and keeps getting promoted.

 

[ScarletNut]

Gensler is acting like a total buffoon

 

[Rutgers Chris]

Gensler is acting like a total buffoon

 

[rcube1994]

Any idea why Cartesi has doubled in just 3 days?

 

[T2Kplus20]

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Gotta be done. Hope the bill moves forward.

 

[xWVU2010x]

So what do crypto/bitcoin advocates actually want? On one hand they are begging for regulatory framework, quickly, accusing the SEC of not moving fast enough against groups like FTX and UST. On the other they are saying the SEC is moving too quickly to enforce against entities like Coinbase and other exchanges.

What isn’t in the sound bite is Gensler basically saying that the entire “industry” has been willfully non compliant with existing US securities laws. The whole thing boils down to that the entire crypto industry has basically changed the word “stock” to “coin” and many have used that as a license to do whatever they want, whether that’s front running investors on exchanges, engaging in wash trading, pump and dump schemes, creating counterfeit dollars, rug pulls etc. Putting in the proper guidelines to stop all of that would basically kill the industry and the folks in congress who are in the pocket of “big crypto” (lol) know it.

 

[ScarletNut]

So what do crypto/bitcoin advocates actually want? On one hand they are begging for regulatory framework, quickly, accusing the SEC of not moving fast enough against groups like FTX and UST. On the other they are saying the SEC is moving too quickly to enforce against entities like Coinbase and other exchanges.

What isn’t in the sound bite is Gensler basically saying that the entire “industry” has been willfully non compliant with existing US securities laws. The whole thing boils down to that the entire crypto industry has basically changed the word “stock” to “coin” and many have used that as a license to do whatever they want, whether that’s front running investors on exchanges, engaging in wash trading, pump and dump schemes, creating counterfeit dollars, rug pulls etc. Putting in the proper guidelines to stop all of that would basically kill the industry and the folks in congress who are in the pocket of “big crypto” (lol) know it.

Gensler has been ruling the crypto industry by sanctioning, doling out punishment or giving notices, all without giving the industry clear cut rules/regulations. There is no consistency in his actions. The regulations wanted/needed by the industry would lay out the rules/regulations for them to follow. You can't dole out securities punishment if you're a commodity and you can't dole out commodities punishment if you're a security and you can't dole out any punishment if you're neither.

 

[xWVU2010x]

Gensler has been ruling the crypto industry by sanctioning, doling out punishment or giving notices, all without giving the industry clear cut rules/regulations. There is no consistency in his actions. The regulations wanted/needed by the industry would lay out the rules/regulations for them to follow. You can't dole out securities punishment if you're a commodity and you can't dole out commodities punishment if you're a security and you can't dole out any punishment if you're neither.

Isn’t it up to Congress to pass securities laws? Without Congress doing that, wouldnt that leave it up to the SEC to have to first make a case by case basis that a specific cryptocurrency is an unregistered security or an entity like an exchange is selling unregistered securities? I’m asking legitimately as I am not a lawyer, but IMO that would explain why they are moving seemingly at a snail’s pace and randomly picking entities to charge, starting with small obvious fish to establish precedent and moving up the chain. Should congress pass a law that all cryptos are securities (as they should IMO) then I think you’ll see sweeping actions.

 

[ScarletNut]

Isn’t it up to Congress to pass securities laws? Without Congress doing that, wouldnt that leave it up to the SEC to have to first make a case by case basis that a specific cryptocurrency is an unregistered security or an entity like an exchange is selling unregistered securities? I’m asking legitimately as I am not a lawyer, but IMO that would explain why they are moving seemingly at a snail’s pace and randomly picking entities to charge, starting with small obvious fish to establish precedent and moving up the chain. Should congress pass a law that all cryptos are securities (as they should IMO) then I think you’ll see sweeping actions.

Congress doesn't classify assets as securities, commodities, etc. Those classifications are set by the SEC and/or the CFTC. Once the asset is classified, then the asset knows what regulations pertain to it. Right now, no one knows what regulations to follow.

 

[T2Kplus20]

Congress doesn't classify assets as securities, commodities, etc. Those classifications are set by the SEC and/or the CFTC. Once the asset is classified, then the asset knows what regulations pertain to it. Right now, no one knows what regulations to follow.

SEC says crypto is mostly securities, CFTC says it is mostly commodities. How about we start with these 2 groups figuring it out and coming to a final answer?