I have Uncle Intel On CRYTPO

Who profits from such a 51% attack, or in other words, what's the reason behind such an attack erasing 200 days of ledger?

Interesting but I think the point about instantly settling in USD will change..

I worked as an executive assistant to a CFO and we never had to settle in USD for global purchases. And those purchases were subject to exchange rate changes which is similar to crypto..

But the other stuff is true. You will 100% need a verified ID to move money.

Interesting but I think the point about instantly settling in USD will change..

I worked as an executive assistant to a CFO and we never had to settle in USD for global purchases. And those purchases were subject to exchange rate changes which is similar to crypto..

But the other stuff is true. You will 100% need a verified ID to move money.

There is also a future problem. Quantum computers could crack bitcoin. The block chain itself to rearrange the history of transactions to change balances or just attack individual wallets which would be easier, obviously, the ones attacked would have the largest amount of bitcoin.

This is about 10 years off, but possibly sooner with the individual wallet attacks.

Of course this is a problem with all cryptography and new codes are being developed to be more quantum resistant. Bitcoin as it is is doomed though.

There is also a future problem. Quantum computers could crack bitcoin. The block chain itself to rearrange the history of transactions to change balances or just attack individual wallets which would be easier, obviously, the ones attacked would have the largest amount of bitcoin.

This is about 10 years off, but possibly sooner with the individual wallet attacks.

Of course this is a problem with all cryptography and new codes are being developed to be more quantum resistant. Bitcoin as it is is doomed though.

So OP why is PayPal, Visa, MasterCard, along with other major banks, institutions and governments all getting on the crypto train?

Right now they're trying to knock the price down so they can scoop up more

Blockchain isn't going anywhere, TPTB want it as much as anyone

Tell your uncle I said

Buddy just called me from DC. He works for a compliance firm that is also fairly big in the world of financial legislation and lobbying. This guy is sharp. An MBA, numerous licenses. I trust him and we have been friends over 20 years. If he is ever allowed to talk about something, we talk. We talked this am about crypto.

Here is the rumors going around of some new regulations set to hit within the coming months:

1)Crypto Currency will be regulated by current amendable banking regulations. It won't be a control move at the exchanges themselves but rather the on and off ramps of those.

2)Any business wishing to have a SWIFT bank account will be required to instantly settle any and all crypto transactions PRE CLOSE for any transaction over $500.00. Basically meaning, if you want to buy something from me with bitcoin, I have to upon receipt instantly settle that in USD. This will essentially make crypto a more cumbersome payment system. Not an easier one. Also does not allow a business to stockpile crypto. Sure they can re buy it after the convert to USD. But then additional fees etc. We will get to that.

3)No anonymous transactions. Any item / transaction with crypto will require ID verification. They are talking literally scanned drivers licenses etc. For all transactions. Think about the headache. Failure to do so by either party will be met with steep fines, prison, etc.

4)There will be a transactional tax implanted of x percent on all crypto transactions due quarterly to the IRS. If you take 100k in crypto you will owe X percent to the IRS as a business quarterly. On top of and in addition to normal quarterly estimated taxes etc. Its unclear whether its DUE at the quarter or will be an estimated tax and then a final settlement at year end. This means most businesses instantly make LESS when selling something for BTC/Crypto.

5)Per transaction trading fees of x% on all crypto trades in addition to normal standard capital gains taxes. The rates are being discussed are 2-3%. Making scalping crypto nearly an impossible trading process.

6)This will initially be done with current regulations being amended but talk of an all inclusive new bill. Think something like the Patriot Act 2.0. Heavy fines, prison time, and penalties. The goal is to make it very difficult and cumbersome for any legitimate business to wish to do business in crypto currencies and for any trader of them to have a very hard time.

This is the basic gist of what we discussed. Basically legislators know the technology is too democratic to all out make illegal crypto, but the new regs are designed to make using crypto in legitimate endeavors more cumbersome, complicated, expensive and dangerous.

Stay safe.

And the rest of the world would not have to listen. The US might be able to hold SWIFT over peoples heads at the moment but that is EXACTLY why a new settlement system sans United States needs to happen.

The US in in its decline and they will do everything in the meantime to maintain relevance. In the end they will loose as the entire planet is too difficult to "force" control over.

80% of the world has already officially declared various crypto's as currencies.

They have also begun adopting crypto ETF's.


Only the USA is far behind in this whole thing.

The SEC is screwing the American public. While the rest of the world is setting up systems and scooping up crypto currencies, the USA is having its hands tied.

Look into XRP right now in lawsuit with the SEC - will probably be labeled as a currency

it can send AND receive transactions in under 6 secs anywhere, anytime- already legal in UK & Japan

they may partner or take over 'SWIFT' the international community hates SWIFT because of USD's power & USA using it as a political weapon for decades

yep dont ban it yet ruin it
lol people thought they could take down the central banks and the big commercial banks

you will need to go to much more discreet coins to bypass the system is my guess, monero?

monero is totally secure.. too secure, they have blocked it in NZ and australia.

A monetary investment with no intrinsic value is dangerous.

Lots of taxes to be tracked.

I hate people who invest in Bitcoin and other cryptos. I'm obsessed about them but I refuse to realize I'm actually talking to myself.

Interesting but I think the point about instantly settling in USD will change..

I worked as an executive assistant to a CFO and we never had to settle in USD for global purchases. And those purchases were subject to exchange rate changes which is similar to crypto..

But the other stuff is true. You will 100% need a verified ID to move money.