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

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.
If they addressed your concerns with their replies, I didn't see it. It was all "big banks are joining", and "the stock price is rising". You have very legitimate concerns.
 
How big are the risks in Tether or the USD digital? If I get 12% interest rate on it isn't that a better place to park some cash than an online bank that pays 0.5%? Not going to put it all there, but just thinking of a portion of the rainy day fund. I know its stable so no upside like BTC or ETH, but still seems like a no brainer unless we all think the wallets are going to get seized or go under.
 
i think those days have passed getting seized ... the senator of wyoming admits she has bitcoin from the early days. Jamie dimon said his daughter bought it some years ago. Chase & other banks are now letting you buy it from your checking account . FinCen looked it over said Okay.. The IRS has it on your tax forms . If all that is not a tell ... i don't know what is.


a crypto exchange going under ? always a chance .. the 2 that are in the USA coinbase and gemini got a thumbs up with chase bank.


bitcoin going flat ? always a chance like anything else.


this is not FDIC but a lot of things are not after you read the fine print like storage boxes in banks.


the bank gives you about nothing in interest. This is not the 80's. sad but true. So anything is better just not the whole thing in one place. Tether is a good one. about 12%
 
Today’s bitcoin ecosystem – The fatal flaw
Bitcoin provides transparency by having all transactions listed on a public ledger that allows one to trace the ownership of each bitcoin. This transparency – together with the irreversibility of each transfer of bitcoins – creates the assurance that the transferee is receiving ownership of the bitcoins being transferred. Unfortunately, the public ledger only identifies ownership. It provides no information on liens.
 
Today’s bitcoin ecosystem – The fatal flaw
Bitcoin provides transparency by having all transactions listed on a public ledger that allows one to trace the ownership of each bitcoin. This transparency – together with the irreversibility of each transfer of bitcoins – creates the assurance that the transferee is receiving ownership of the bitcoins being transferred. Unfortunately, the public ledger only identifies ownership. It provides no information on liens.
Yeah that's the world in general. Chump can tell us he's a billionaire many times over because look at all the buildings I own, but there's no public records of the amounts of liens and mortgages against properties, just that such liens and mortgages do exist.
 
How big are the risks in Tether or the USD digital? If I get 12% interest rate on it isn't that a better place to park some cash than an online bank that pays 0.5%? Not going to put it all there, but just thinking of a portion of the rainy day fund. I know its stable so no upside like BTC or ETH, but still seems like a no brainer unless we all think the wallets are going to get seized or go under.
No risk with some stable coins but there is a very tiny risk with Tether.
 
Breaking News
Tesla Invests $1.5 Billion in Bitcoin, Plans to Accept Cryptocurrency




Tesla Inc. has invested $1.5 billion in Bitcoin and expects to start accepting the cryptocurrency as payment, Bloomberg News reports.
 
Cardano News

1. #1 cryptocurrency on social media.
2. Grayscale filed for Cardano.
3. Smart contracts launching soon.
4. Cardano with be able to convert ETH smart contracts lowering fees and increasing speed.
5. Made a deal with Africa that will bring in 100 million new users.
6. Finance without banks in South Africa, Kenya, Nigeria, Tanzania and Ethiopia.
7. Everything will be fully decentralized.
8. Binance added staking.
 
city of Miami, fla Pushes Crypto With Proposal to Pay Workers in Bitcoin

  • Mayor also wants to allow residents to pay taxes with crypto
  • Miami is exploring investing funds in leading cryptocurrency
 
Amazon Preparing to Launch a ‘Digital Currency’ Project in Mexico

in 2017 amazon bought URL's with amazonbitcoin, amazonethereum and other crypto names


:coffee:
 
‘Black Swan’ Author Calls Bitcoin a Failure, at Least for Now


Nassim Nicholas Taleb:

I've been getting rid of my BTC. Why? A currency is never supposed to be more volatile than what you buy & sell with it. You can't price goods in BTC




wow! Nassim is still upset about taking the chiefs. They will be back next year. :p
 
North America’s First Bitcoin ETF Gets Green Light in Canada

  • Purpose Investments says it has gained approval to launch fund
  • Canada has beaten U.S. on other industry ETFs including pot
 
its a very good point, but a minor one.

suppose the IRS proclaims businesses cannot use bitcoin, not a far-fetched idea. aftet that, no legit business will transmit in that currency.

bitcoin continues to exist as a means for transactions between underground individuals, businesses that operate outside the law, etc.

but no legit businesses will accept a rogue currency and face imprisonment just to make sales.

so while its true, bitcoin is awesome, as soon as it becomes any kind of threat as a global currency, (and lets be honest, WAY before that), the US will shut it down by making those transactions illegal. and then every business that accepts bitcoin is a criminal organization, and 99.8% of business's are going to comply with that. and while bitcoin will still exist, it will just be a very well-developed underground payment system.

that reality only happens if bitcoin becomes relevant enough on the world stage. so as soon as it matters, its fucked. and you can believe that.
 
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its a very good point, but a minor one.

suppose the IRS proclaims businesses cannot use bitcoin, not a far-fetched idea. aftet that, no legit business will transmit in that currency.

bitcoin continues to exist as a means for transactions between underground individuals, businesses that operate outside the law, etc.

but no legit businesses will accept a rogue currency and face imprisonment just to make sales.

so while its true, bitcoin is awesome, as soon as it becomes any kind of threat as a global currency, (and lets be honest, WAY before that), the US will shut it down by making those transactions illegal. and then every business that accepts bitcoin is a criminal organization, and 99.8% of business's are going to comply with that. and while bitcoin will still exist, it will just be a very well-developed underground payment system.

that reality only happens if bitcoin becomes relevant enough on the world stage. so as soon as it matters, its fucked. and you can believe that.




i don't think it will replace the dollar. It could run along side the Swift messaging banking system since it is much faster like janet yellen has said. Etherum will be some sort of app system running on blockchain. The U.S. won't be stopping the use of bitcoin they could be limiting it . Inside many countries like the US, China and russia mine it. There is software from chainalysis that the feds use to see where every coin goes. They say less than a few % is in the criminal hands... but traceable. The US dollar is in the criminals hands since it was first printed.
 
its a very good point, but a minor one.

suppose the IRS proclaims businesses cannot use bitcoin, not a far-fetched idea. aftet that, no legit business will transmit in that currency.

bitcoin continues to exist as a means for transactions between underground individuals, businesses that operate outside the law, etc.

but no legit businesses will accept a rogue currency and face imprisonment just to make sales.

so while its true, bitcoin is awesome, as soon as it becomes any kind of threat as a global currency, (and lets be honest, WAY before that), the US will shut it down by making those transactions illegal. and then every business that accepts bitcoin is a criminal organization, and 99.8% of business's are going to comply with that. and while bitcoin will still exist, it will just be a very well-developed underground payment system.

that reality only happens if bitcoin becomes relevant enough on the world stage. so as soon as it matters, its fucked. and you can believe that.
this is a 2014 take.
 
its a very good point, but a minor one.

suppose the IRS proclaims businesses cannot use bitcoin, not a far-fetched idea. aftet that, no legit business will transmit in that currency.

bitcoin continues to exist as a means for transactions between underground individuals, businesses that operate outside the law, etc.

but no legit businesses will accept a rogue currency and face imprisonment just to make sales.

so while its true, bitcoin is awesome, as soon as it becomes any kind of threat as a global currency, (and lets be honest, WAY before that), the US will shut it down by making those transactions illegal. and then every business that accepts bitcoin is a criminal organization, and 99.8% of business's are going to comply with that. and while bitcoin will still exist, it will just be a very well-developed underground payment system.

that reality only happens if bitcoin becomes relevant enough on the world stage. so as soon as it matters, its fucked. and you can believe that.
BTC is worldwide. Although the price would take a hit, it's not going to kill bitcoin. It's a misnomer that bitcoin is an under ground currency. BTC is a store of value. A very small percentage is used for illegal means.
 
Morgan Stanley May Bet on Bitcoin in $150 Billion Investment Arm

  • Counterpoint Global unit is weighing whether asset is suitable
  • More mainstream firms are accepting Bitcoin amid recent rally
 

FairWarning

Bells Beer Connoisseur
BTC is worldwide. Although the price would take a hit, it's not going to kill bitcoin. It's a misnomer that bitcoin is an under ground currency. BTC is a store of value. A very small percentage is used for illegal means.
LOL most of it is for illegal means. Everyone of your Nitrogen transactions are illegal.
 
What is DeFi?
DeFi is an abbreviation of the phrase decentralized finance which generally refers to digital assets and financial smart contracts, protocols, and decentralized applications (DApps), most of which are built on Ethereum. In simpler terms, it's financial software built on the blockchain that can be pieced together like Money Legos.
 
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