KEEP AN EYE ON CRYPTO........BITCOIN OVER $10K

bitcoin is really nothing but a penny stock with zero utility, its a stock with swings to play for gamblers, and nothing more. if any of you think the US government is going to just give up control of the monetary game (which is the one thing that keeps it in power) without implementing blitzkreig measures to keep it, you're fools.

granted, its a fun speculative game for us gamblers to play, but that's all it is. the moment it becomes any kind of threat to the US banking system, and more specifically the US dollar, the US government will destroy it. they'll make it completely illegal to use/have/hold... and while we 2% of fringers might resist, the 98% of the population who don't want to be outlaws will comply... and then bitcoin will be like heroin... valuable in the underworld but of little use in the real world. maybe valuable in the underground cash trafficking market, i guess, but not much better than those vehicles that already exist in that realm.
The US can't kill bitcoin. Bitcoin is worldwide. Cryptocurrencies are here to stay.
 

janus

EOG Dedicated
The US can't kill bitcoin. Bitcoin is worldwide. Cryptocurrencies are here to stay.
Heh, Ok, i'm not saying they could stop it,,, what i'm saying is they can completely wreck its influence. they can neuter it. and if you don't believe they can do that, well, you're kinda naive.
 
Heh, Ok, i'm not saying they could stop it,,, what i'm saying is they can completely wreck its influence. they can neuter it. and if you don't believe they can do that, well, you're kinda naive.
I'm naive? You called bitcoin a penny stock. You don't realize how much money is involved or the politicians involved in bitcoin.
 

janus

EOG Dedicated
i've heard those arguments before. and i realize folks have emotional and financial involvements... do you realize the US's position in the world as it pertains to dollar dominance?
 
Right
i've heard those arguments before. and i realize folks have emotional and financial involvements... do you realize the US's position in the world as it pertains to dollar dominance?
The US won't kill bitcoin. It's way too late. I've heard your story about bitcoin for the last 10 years. Millionaires have been made in this current bull run. By the time it's over, there may be billionaires. Start looking at DeFi coins and DEX.
 
This new episode with Robinhood has brought a lot of attention to decentralized exchanges. Trades will be made without any middleman. Crypto currencies are used and it's not even bitcoin.
 
the US (a powerful force, one might say) has a very vested interest in not allowing that to happen.
You have to read a lot more about cryptocurrencies. They're not only a store of value but there are things such as smart contracts run on the ethereum chain. All kinds of DApps are built on ethereum and other chains. The uses are unlimited. Cryptos can't be killed.
 
Elections will soon be on blockchain technology since it's a ledger that can be changed or manipulated. Charles Hoskinson even brought up the idea to Trump but no one has run with it. This doesn't involve cryptos but it's blockchain.
 

janus

EOG Dedicated
you need to read more up on government.

i'm not arguing what's best, i'm arguing what's real. Sure, they can't be killed, i know that.

You're aruging potential, I'm arguing reality.
 
you need to read more up on government.

i'm not arguing what's best, i'm arguing what's real. Sure, they can't be killed, i know that.

You're aruging potential, I'm arguing reality.
I'm arguing reality. You have absolutely no idea what's going on in the cryptocurrency world right now.
 

janus

EOG Dedicated
Crypto operates as a pennystock (ok more that a pennystock, a stock). It hopes to be more, It has disciples almost as faithful as Christians.

Those disciples believe it to be the third-coming. I accept all of this.

I shouldn't try to shed anyone of their faith. I hope you're right.

i REALLY hope you're right, it would help me out immensely.
 
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Crypto operates as a pennystock (ok more that a pennystock, a stock). It hopes to be more, It has disciples almost as faithful as Christians.

Those disciples believe it to be the third-coming. I accept all of this.

I shouldn't try to shed anyone of their faith. I hope you're right.
You still don't understand it. Bitcoin was the infant stage of crypto currencies. Bitcoin is becoming just a store of value.
 
bitcoin is really nothing but a penny stock with zero utility, its a stock with swings to play for gamblers, and nothing more. if any of you think the US government is going to just give up control of the monetary game (which is the one thing that keeps it in power) without implementing blitzkreig measures to keep it, you're fools.

granted, its a fun speculative game for us gamblers to play, but that's all it is. the moment it becomes any kind of threat to the US banking system, and more specifically the US dollar, the US government will destroy it. they'll make it completely illegal to use/have/hold... and while we 2% of fringers might resist, the 98% of the population who don't want to be outlaws will comply... and then bitcoin will be like heroin... valuable in the underworld but of little use in the real world. maybe valuable in the underground cash trafficking market, i guess, but not much better than those vehicles that already exist in that realm.

Bitcoin Meets Banking As U.S. Bank Regulator Permits Cryptocurrency Custody - forbes


is it possible the banks have something to do with it? maybe it will run with SWIFT message system as another way for banks to move money around from bank to bank all over the world.

it will be used in the world . what will it be worth at the end who knows. If the Banks did not want it chase and other banks would not allow it.
 
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Bitcoin Meets Banking As U.S. Bank Regulator Permits Cryptocurrency Custody - forbes


is it possible the banks have something to do with it? maybe it will run with SWIFT message system as another way for banks to move money around from bank to bank all over the world.

it will be used in the world . what will it be worth at the end who knows. If the Banks did not want it chase and other banks would not allow it.
DeFi is Paving the Road for 'Self-Driving' Banks, Says OCC Chief
https://decrypt.co/53881/defi-self-driving-banks-occ-brian-brooks
 
a country in Europe had a bank on wheels . I noticed it a few years ago. I also read that US banks will get out of the real estate business. So the bank on the corner will go online & get over taken by the larger investment firms.
 
Reddit co-founder Alexis Ohanian has joined Twitter CEO Jack Dorsey and Tesla (NASDAQ:TSLA) CEO Elon Musk in updating their Twitter bios to "#Bitcoin."

Ohanian’s bio update seemed to be in response to a tweet by tech entrepreneur and former Coinbase chief technology officer Balaji Srinivasan. As part of the tweet, Srinivasan highlighted the growing appeal of Bitcoin to the likes of Musk and Dorsey, calling Bitcoin (BTC) “the flag of technology.”
 
Visa May Add Cryptocurrencies to Its Payments Network, Says CEO
The card giant works with wallets and exchanges to enable crypto purchases, and could eventually use digital currencies over blockchain in the same way it processes traditional money.
.........
 
FTX Exchange Lists WallStreetBets Futures to Capitalize on Investing Movement
The futures contract is based on a basket of stocks being targeted by WallStreetBets and dogecoin.



wallstreetbets is #4 in market cap in crypto
 
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hcskip

EOG Senior Member
Just passing through - to someone commenting that cryptocurrencies can be made illegal - not gonna happen. China played that game a few years ago and went nowhere; just drove the traders underground.

The US could make it difficult to exchange BitCoin and the like for cash, but unless they can get the message out about it's potentially seedy nature (it's the preferred transaction method for blackmail, ransom, and drug trade), that's gonna go nowhere as well.
 
Just passing through - to someone commenting that cryptocurrencies can be made illegal - not gonna happen. China played that game a few years ago and went nowhere; just drove the traders underground.

The US could make it difficult to exchange BitCoin and the like for cash, but unless they can get the message out about it's potentially seedy nature (it's the preferred transaction method for blackmail, ransom, and drug trade), that's gonna go nowhere as well.
What I am concerned about is when government agencies write regulations or make proclamations that are intentionally vague. That is enough to deter a lot of legitimate businesses from even getting involved. They don't even need a law to pass, they could just say something like if you make a transaction its up to you to know the counterparty's source of funds. What does that mean? Do I have to go see their office and see their business licenses, then go check some registry to make sure they are 100% legit? What if I do that and it turns out they still did something illegal? Regulatory bullshit that keeps legitimate investment out.
 
Banks’ increasing warming to crypto has been epitomized by the u-turn JP Morgan Chase has made in recent years. After CEO Jamie Dimon provoked industry ridicule for deriding Bitcoin as a “fraud that authorities would crush” only two years ago, the banking giant has since extended banking services to leading exchanges Gemini and Coinbase and also issued its own blockchain-based system JPM Coin. Conclusion- What’s next for U.S. banks and crypto?It’s important to keep in mind that banks move at an exponentially slower pace than the cryptocurrency industry due to excessive red tape, bureaucracy and regulatory obligations.
There is also the minor risk that the OCC’s latest reforms may be undone under a new administration
Therefore, banks will most likely gradually dip their toes in the crypto pool. According to Alex Batlin, CEO of digital asset custody provider Trustology, banks may take the “sub-custody” path by teaming up with or buying existing crypto custodians as a means of derisking.

However, it seems certain at present that big banks are coming, and with them, a mainstream market for cryptocurrencies. As the crypto industry continues to mature and a new class of millennial investors familiar with blockchain and with a generational preference for crypto assets over staid financial products becomes their main target market, banks will eventually have their Damascus moment – become increasingly obsolete or join the party.

When this expansion of banks’ services to include crypto custody becomes the norm,, the unlikely mass adoption of virtual assets will suddenly become as sure a thing as (digital) money in the bank.






JPM did a 180 degree turn just like?? you guessed it mr silver did on sports betting in the ny times a few years ago. The thing is both knew it was coming.
 
Five Most Crypto-Friendly American States
Some of the American states that have fair regulations in place for cryptocurrencies are:

1. Colorado-As far as cryptocurrencies are concerned, Bitcoin seems to be on top of Colorado’s priority list. Colorado has started paving the way for the crypto industry. In May 2018, Senate Bill 086 was signed. This required the Department of State, the Governor’s Office of Information Technology (OIT), and the Department of Regulatory Agencies to consider using blockchain to protect confidential state records from theft and manipulation. It was in the same month that Wayne Williams, Colorado Secretary of State, made the proposal for allowing cryptocurrency donations to political campaigns, thus following the footsteps of the state of New Hampshire, which made this move in the year 2014.
In March 2019, The Colorado Digital Token Act was signed by the Colorado Governor. It is a bill that aims to exempt cryptocurrencies from certain securities regulations, like the legislation in Wyoming. Effective from 2 August, certain digital assets that were actually designed for ‘consumptive purpose’ will now qualify for securities exemptions. This bill will help Colorado’s state agencies regulate the Initial Coin Offerings (ICO) market, as the Colorado Division of Securities has been banning bad actors. Colorado has also blockchain to other fields. Before the Digital Token Act, in 2018, the mobile voting solution was deployed during the primary and midterm elections of West Virginia. In May 2019, the Governor of Colorado, signed the proposition for assembling an advisory group to study the application of blockchain in data verification and certification of organic products, product tracking, inventory management, and monitoring of in-field conditions.
2. Ohio - still has a long way to go before it becomes a federal crypto hub in the U.S., but one can sense its ambitions as they are evident. Following the legal recognition of blockchain data in August 2018, lawmakers of the Buckeye State proposed using blockchain technology for marriage licenses and birth certificates and to work with universities so that they can offer blockchain-related courses to students.
Ohio has advanced greatly in one filed which is taxes paid in crypto. From November 2018, local companies have been paying everything right from cigarette sales taxes to employee withholding taxes using Bitcoin (BTC) after registering on the OhioCrypto.com website. Overstock.com was the first business to express interest in this option. Overstock is a pro-crypto e-commerce firm. The next domain in which Ohio might apply positive regulation is real estate. Earlier in 2019, the County Auditors’ Association of Ohio created a working group for studying the various ways in which blockchain could help to “more effectively” transfer real estate deeds at the state level.
3. Texas-This was the first state that published a memorandum to declare that no money transfer license would be required for selling Bitcoin or other digital currencies. But Texas cannot be given the credit of being the most crypto-friendly place as Texas was on the verge of passing a bill in early 2019 that would have resulted in a ban over the usage of cryptocurrencies between unidentified parties.
Blockchain lobbyist and the representative of the Wyoming House travelled to Texas’ capitol to meet the lawmakers and convince them about dropping this document, but could not meet the legislators. But much to the relief of Texas’ crypto enthusiasts, they did not proceed with this. Though positive regulation may not be its strong suit, it is still one of the most popular places for crypto mining in the U.S., in spite of its scorching hot climate. Last year, the town of Rockdale welcomed Bitmain’s plans of building the world’s largest mining facility while other states such as New York Tennessee were reluctant.
There are many crypto mining enterprises in the business-friendly state of Texas, like TMGCore. The cooling technology of TMGCore allows it to run mining rigs efficiently even during extreme summers. In other states such as New York and Washington, where mining is known to be cost-efficient, they have intentionally increased electricity costs for crypto businesses. Overall, this makes Texas a safer bet.
4. , California was one of the first states to bring about a form of crypto regulation as the Governor of California signed a bill that ensured that “various forms of alternative currency such as digital currency” are legal in transmitting payments and purchasing goods. Since then, California has not been at the forefront of cryptocurrency governance, but it is a popular destination for professionals working in the crypto industry.
Some of the biggest U.S. crypto companies such as Coinbase, Kraken, and Ripple are headquartered in California. The lack of certain regulations in California can be looked at as a blessing in disguise as local businesses are not hurdled with overly restrictive measures. California will soon be catching up with Wyoming and the other states. Earlier in August, California Government Operations Agency Secretary announced the chair and members of the blockchain working group that was created in 2018. According to the document, the task force must submit a report on the potential risks, benefits, and uses of blockchain to the state government by 1 July 2020.
5. Wyoming - has always proved to be the undisputed leader in terms of crypto-friendly areas of America. The state of Wyoming put itself on the crypto map in 2018 a bill was passed by the Wyoming House of Representatives that defined utility tokens and exempted those of them that are not marketed as an investment opportunity from securities regulations.
There are currently seven other pro-crypto bills that remain active. These comprise details about granting digital currencies the same legal status as money. This will mean authorizing banks to hold digital assets in custody, creating a regulatory Fintech sandbox aimed at diminishing industry hurdles for blockchain startups, and helping corporations to tokenize their shares.
Wyoming, by authorizing banks to administer digital assets, helps them to comply with the Securities and Exchange Commission’s regulations for ‘qualified custodians.’ This will prompt even those who are not tech-savvy to enter the crypto market.
 
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