I have Uncle Intel On CRYTPO

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?

Do you really think the people are going to rise up to save crypto millionaires?

At least half of America is jealous/pissed, and given just a small dose of propaganda, will cheer on the arrests of "illegitimate" wealth.

If the people couldn't be bothered to defend Snowden or Assange, they sure as hell aren't going to defend cryptotards.

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.

You can be sure 'they' have it now.

You sound jelly. Maybe read more about what cryptocurrencies are. Read about how they actually work and you will fall in love. Hell, just throw 100 bucks in a robinhood account on btc. At least you can speak from experience and knowledge then.

Brother, I was studying bitcoin when it was trading less than $10. I loved the idea and thought it was the future.

Fast forward like a decade, and it still isn't used for any normal commercial transactions, it's still absurdly volatile, you can still lose it all by losing a password or sending it to the wrong wallet, it's actually less anonymous than many other forms of commerce because the complete ledger is out there for the whole world to see, it's expensive to settle, and it takes an obscene amount of energy to make payments (magnitudes more than Visa, MC) and maintain value (which PMs do nearly for free).

In short, BTC, for me, has been a colossal failure. For 99% of the population, it has much worse product-market fit than traditional banks. It hasn't actually transformed much of anything, besides creating a new speculative instrument.

P.S. I also made about $75K trading shitcoins over the last 6 months. Not life changing but nice. But I am out of everything now and in cash.

Brother, I was studying bitcoin when it was trading less than $10. I loved the idea and thought it was the future.

Fast forward like a decade, and it still isn't used for any normal commercial transactions, it's still absurdly volatile, you can still lose it all by losing a password or sending it to the wrong wallet, it's actually less anonymous than many other forms of commerce because the complete ledger is out there for the whole world to see, it's expensive to settle, and it takes an obscene amount of energy to make payments (magnitudes more than Visa, MC) and maintain value (which PMs do nearly for free).

In short, BTC, for me, has been a colossal failure. For 99% of the population, it has much worse product-market fit than traditional banks. It hasn't actually transformed much of anything, besides creating a new speculative instrument.

P.S. I also made about $75K trading shitcoins over the last 6 months. Not life changing but nice. But I am out of everything now and in cash.

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.

no one remembers when the fed "confiscated" all that bitcoin when they took down the silk road...

how do you confiscate bitcoin unless you have the keys?

it isnt secure, it has never been secure. you are all getting played.

I misread you and apologize but since you have been in this as long as I have, you have to appreciate the beauty of it. It is something that no one can ever fuck with. I love the fact that you can lose your key and lose your fortune on a usb drive or a piece of paper. If it is that easy for you to lose it, it is that much harder for government to take it. And that is the very basic idea of where this is going. Away from government.

Where you see beauty, I see horrible product-market fit.

You can complain about the banking system all you want, but for the average consumer for day to day activities, it works marvelously. I use the bank that probably has benefited the most from the largesse of the Fed - JPM Chase - because they provide incredibly friendly online tools, and if something goes wrong, like inverting two digits in an account number for a wire, they fix it.

I still cross my fingers every time I send crypto...that I didn't inadvertently using my ETH address for BTC, for example. Or that the shady Chinese exchange I have to use for shitcoins hasn't disappeared with my holdings.

In short, the banking system still works better for financial activities than crypto for 99% of US consumers.

The very same people on this thread that are saying this can never happen sound exactly like the qTards that said there was no way Biden would ever be president.

Well he is.

And the entire world is under the control of a tiny little elite and they can do pretty much anything they want.

It will happen.

In fact, the crypto market just took a huge dump this morning.

It was the second highest amount of liquidations in one day in crypto history.

Sounds to me like a lot of the big boys know something

To me it seemed like an emotional reaction to talks in India. There has been publicly about the government trying to outlaw bitcoin

Ironically it escalated demand in India when word got out

To me it seemed like an emotional reaction to talks in India. There has been publicly about the government trying to outlaw bitcoin

Ironically it escalated demand in India when word got out

keep telling yourself that.

Not going to happen.

They'll try. But its the end for fiat and no amount of deck-chair-rearranging is going to change that.

BUY BITCOIN NOW!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

They are going to take this to $100K+ and beyond and you will be totally priced out! You dumb fucks!

BUY BITCOIN NOW!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

In fact, the crypto market just took a huge dump this morning.

It was the second highest amount of liquidations in one day in crypto history.

Sounds to me like a lot of the big boys know something