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Forum » Bitcoin Is Toast: U.S. plans cryptocurrency crackdown
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Thread: Bitcoin Is Toast: U.S. plans cryptocurrency crackdown

post 1639957513 06-02-2021, 05:46 AM
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Bitcoin Is Toast: U.S. plans cryptocurrency crackdown

Just in time for the Fed to release their own crypt currency.

========================

https://news.yahoo.com/news/u-plans-...151803743.html

U.S. financial authorities are preparing to actively regulate the $1.5 trillion cryptocurrency market amid growing concerns of a lack of oversight, the Financial Times reports.

Why it matters: New efforts under the Biden administration reflect a break from the Trump-era approach, in which the administration at times encouraged cryptocurrency use within the financial system.

Get market news worthy of your time with Axios Markets. Subscribe for free.

Michael Hsu, who was appointed this month as acting U.S. Comptroller of the Currency, told the FT that he wants U.S. officials to work together to set a "regulatory perimeter" for crypto.

Hsu testified at a congressional hearing earlier this month that, after seeing fintechs create new payment processing tools, "it is hard not to feel some déjà vu" to the years preceding the 2008 financial crisis.

The new techniques give rise “to a large and less regulated shadow banking system," he said.
post 1639957833 06-02-2021, 05:53 AM
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Fed coin

I’m sure it will be a hit
post 1639958283 06-02-2021, 06:05 AM
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Everyone has known they are gonna further regulate it

That article says nothing new
Future P.A in progress
We're all gonna make it

sleep tight pupper
post 1639958313 06-02-2021, 06:06 AM
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Originally Posted By MiamiLife305⏩
Everyone has known they are gonna further regulate it

That article says nothing new
yeah just more FUD from the shorters, nobody gives af if coinbase and gemini are more regulated lol, most of crypto isn't even within U.S jurisdiction anyway
**MFC**
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post 1639958323 06-02-2021, 06:07 AM
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"fo me dis feer rike 2008"

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post 1639958403 06-02-2021, 06:08 AM
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By “regulate” they just mean tax it, right?

Like, they get a cut for doing nothing?
“The stories and information posted here are artistic works of fiction and falsehood. Only a fool would take anything posted here as fact.“

PS: Don't eat poop, just don't let the idea of it stop you from living life to its fullest.
post 1639958463 06-02-2021, 06:10 AM
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Coincels hate life right now lol
post 1639959183 06-02-2021, 06:25 AM
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OoOooOoO so scary. Fuk those *******s

Back up to 15k (+600%) profit today LMFAO
𝗣𝗨𝗥𝗘𝗕𝗟𝗢𝗢𝗗
ωσяℓ∂ тяανєℓєя ȼяєω ₅₀/₁₉₅
𝕬𝖊𝖘𝖙𝖍𝖊𝖙𝖎𝖈𝖆𝖑𝖑𝖞 𝕮𝖚𝖙 𝕸𝖆𝖘𝖙𝖊𝖗 𝕽𝖆𝖈𝖊 ®
ᗪIᔕᑕᖇIᗰIᑎᗩTIOᑎ E᙭ᑕᒪᑌᔕIOᑎ IᑎᗪOᑕTᖇIᑎᗩTIOᑎ
post 1639960923 06-02-2021, 07:05 AM
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never heard this before
post 1639961043 06-02-2021, 07:07 AM
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regulating it will increase the peer to peer usage. How will they regulated a decentralized/open source value exchange? derp.
post 1639961273 06-02-2021, 07:11 AM
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Originally Posted By truesteez⏩
regulating it will increase the peer to peer usage. How will they regulated a decentralized/open source value exchange? derp.
Just by taxing any withdrawals from coinbase or kraken I imagine
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post 1639961603 06-02-2021, 07:16 AM
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Originally Posted By Lb54TG⏩
Just by taxing any withdrawals from coinbase or kraken I imagine
if you use coinbase or kraken you are a straight up retard. srs Why would you use a centralized exchange? Might as well stick with a bank.

The whole purpose is to be decentralized. Do you also keep your coins on an exchange? if so, you don't own them and you'll eventually lose them.

cold storage and swaps/Dex's/OTC

Also, why would you need to withdraw? to get back into a worthless currency like the dollar? Remember 1btc=1btc.
post 1639961713 06-02-2021, 07:17 AM
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Originally Posted By DesiredUser****⏩
OoOooOoO so scary. Fuk those *******s

Back up to 15k (+600%) profit today LMFAO
yeah... in USD value
post 1639962233 06-02-2021, 07:27 AM
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Originally Posted By truesteez⏩
if you use coinbase or kraken you are a straight up retard. srs Why would you use a centralized exchange? Might as well stick with a bank.

The whole purpose is to be decentralized. Do you also keep your coins on an exchange? if so, you don't own them and you'll eventually lose them.

cold storage and swaps/Dex's/OTC

Also, why would you need to withdraw? to get back into a worthless currency like the dollar? Remember 1btc=1btc.
So do you intend on ever pulling out crypto to USD?

If you can’t buy anything with your crypto then you’re playing a game with numbers. If you have 5m in crypto, and you’re living in a 1br apartment driving a 2012 Camry, would you not want to pull money out to buy a house and a new car?
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post 1639962333 06-02-2021, 07:29 AM
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Quick let me hide my coins in your aszhole op
post 1639962563 06-02-2021, 07:32 AM
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Originally Posted By Lb54TG⏩
So do you intend on ever pulling out crypto to USD?

If you can’t buy anything with your crypto then you’re playing a game with numbers. If you have 5m in crypto, and you’re living in a 1br apartment driving a 2012 Camry, would you not want to pull money out to buy a house and a new car?
No. My goal is to be completely removed from USD and just operate through crypto. ded srs. The infrastructure is just not there ATM though. I'm aiming in the next 2-3 years while slowly accumulating as I have been since 2014/2015.

Eventually, with smart contracts, you'll be able to buy cars, homes, etc with no middleman. The volatility the past few weeks just proved that centralized exchanges are to not be trusted as they limited withdrawals while the ether blockchain and smart contracts worked flawlessly, aside from high gas fees.

Edit: and lots of places already accept btc. I don't spend mine yet. If I have to i'll use LTC for purchases as they are processed faster than USD.
post 1639963643 06-02-2021, 07:48 AM
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Reddit must be so torn about this. On one hand they wanted Trump out and Biden in, but now he's about to go in dry on them and their crypto
post 1640015963 06-02-2021, 08:28 PM
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Nice to know the government cares so much about the currency. Maybe now they can nationalize the US dollar instead of leaving it in the hands of a private company...



Sike!
post 1640020983 06-02-2021, 10:02 PM
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Originally Posted By truesteez⏩
No. My goal is to be completely removed from USD and just operate through crypto. ded srs. The infrastructure is just not there ATM though. I'm aiming in the next 2-3 years while slowly accumulating as I have been since 2014/2015.

Eventually, with smart contracts, you'll be able to buy cars, homes, etc with no middleman. The volatility the past few weeks just proved that centralized exchanges are to not be trusted as they limited withdrawals while the ether blockchain and smart contracts worked flawlessly, aside from high gas fees.

Edit: and lots of places already accept btc. I don't spend mine yet. If I have to i'll use LTC for purchases as they are processed faster than USD.
I mean my biggest thing is like, you can’t buy a car, or a house, or even things at the grocery store with crypto or btc.

Man you really are invested in the future
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post 1640021853 06-02-2021, 10:26 PM
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Originally Posted By MiamiLife305⏩
Everyone has known they are gonna further regulate it

That article says nothing new
Exactly, it's all part of the process. Can't wait till it happens and NoCoincel losers start spamming the forum with retardation.
Fk the Good Poster Crew (Lockdev, Pink, Kimm, Wasps, Expatriot, Mulloway, Luc1fer, Smallpeter, gwg, Super Hercules, Bonobo, maori-rap, Based Bagel, ezmac31, Goobaa, Godfrd and many more). You know who you are.
post 1640021903 06-02-2021, 10:27 PM
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elon ruined it for everyone
post 1640022313 06-02-2021, 10:40 PM
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Originally Posted By truesteez⏩
No. My goal is to be completely removed from USD and just operate through crypto. ded srs. The infrastructure is just not there ATM though. I'm aiming in the next 2-3 years while slowly accumulating as I have been since 2014/2015.

Eventually, with smart contracts, you'll be able to buy cars, homes, etc with no middleman. The volatility the past few weeks just proved that centralized exchanges are to not be trusted as they limited withdrawals while the ether blockchain and smart contracts worked flawlessly, aside from high gas fees.

Edit: and lots of places already accept btc. I don't spend mine yet. If I have to i'll use LTC for purchases as they are processed faster than USD.
This doesn't make sense. The IRS will see you buying a new car or new house.
post 1640022323 06-02-2021, 10:40 PM
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Dont forget you have to pay taxes on gains
post 1640023163 06-02-2021, 10:58 PM
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What a ******* referencing 2008 in light of the new regulations he’s working on

BRB wrecking the economy because I’m a power tripping bureaucrat. You’re entire existence is based on taxes earned from risk takers like BTC investors.

Get bent *******
post 1640036283 06-03-2021, 06:19 AM
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Originally Posted By truesteez⏩
No. My goal is to be completely removed from USD and just operate through crypto. ded srs. The infrastructure is just not there ATM though. I'm aiming in the next 2-3 years while slowly accumulating as I have been since 2014/2015.

Eventually, with smart contracts, you'll be able to buy cars, homes, etc with no middleman. The volatility the past few weeks just proved that centralized exchanges are to not be trusted as they limited withdrawals while the ether blockchain and smart contracts worked flawlessly, aside from high gas fees.

Edit: and lots of places already accept btc. I don't spend mine yet. If I have to i'll use LTC for purchases as they are processed faster than USD.
Have you heard of Agorism? If not, it's counter-economics living - as much as you can - via the gray and black market. Using alternative currencies or precious metals to make purchases when possible. Tax evasion is also part of it, but that is high risk in countries like the US where they won't just make you pay back what you owe with interest, they will also throw you in prison. A lot of US people who want to live the Agorist lifestyle move to Mexico.

Have you heard of - Referral link -https://purse.io/?_r=wIIKax? You send using Escrow BTC or BCH and someone purchases the item off your Amazon wishlist in exchange, and the best part is you get the item at a discount. Also Bitrefill allows your to buy gift cards using Crypto.

I'm sure you already know but IME the best crypto tools for living that life are: XMR [XMR atomic swap], XHV, BEAM, BCH [using Cash Fusion which is a good mixer https://www.youtube.com/watch?v=zG6A5C90Rsc ], Pirate Chain [brilliant privacy ecosystem, not just a privacy coin], and Thorchain DEX due to it being cross chain decentralized exchanged, so breaking the ability to track your crypto. Also the SCRT smart contract platform, which aims to be a bridge between smart contract platforms, turning coins and tokens from other chains into a private version, the already have a DEX built on it.

The Haven Protocol XHV allows you to create assets like private tech equivalents to USD, GOLD, etc. So you can store the value of your crypto.



Videos about Agorism...

Spoiler!







Same vid as above:https://odysee.com/@jackspirko:a/unl...sode-4-cryto:3




Here's a site where you can find people who can help you live the lifestyle you want...

https://freedomcells.org/

https://agorist.market/
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Bitcoin And 'The Elite' - Why Bitcoin Is Not Revolutionary
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post 1640036333 06-03-2021, 06:20 AM
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Originally Posted By Ironmanlet⏩
By “regulate” they just mean tax it, right?

Like, they get a cut for doing nothing?
As a lefty you should love this.
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post 1640036453 06-03-2021, 06:24 AM
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lol time to tax it now that money can be made off it, instead of before when the concern was using the funds for untraceable and potentially illegal transactions.
post 1640036673 06-03-2021, 06:28 AM
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Yeah don't regulate it, just let it crash like the junk bonds in the 80s.

Like we haven't seen all this before with the savings and loan scandal. Just let it ride. The guys at the top make billions and the grannies who invested will be left eating cat food, and the dads jumping off bridges when they lose everything.


Michael Milken did like a year in jail and walked out a billionaire.
These get rich quick scams are all the same.
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post 1640038213 06-03-2021, 06:56 AM
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you can regulate it all you want but its literally programmed to keep going up in price indefinitely. see how the "bull runs" happen in a sequential manner after every halvening event

that's why shills love chitcoin and all its little spinoff gimmick tokens like ETH because of its built in anti-inflation protection, and why they also say you can't really "ban" crypto unless you ban the internet
post 1640038253 06-03-2021, 06:58 AM
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Originally Posted By quadfecta⏩
that's why shills love chitcoin and all its little spinoff gimmick tokens like ETH because of its built in anti-inflation protection,
You consider ETH a gimmick coin?

The sooner Bitcoin Maximalism dies the better it will be for the crypto space. Literally the Boomers of the crypto space. Ded Srs.
If You Don't Like To Talk About Your Feelings, This Might Help...
https://forum.obnoxiousbrutes.com/showthread.php?t=178926621

The Most Heartbreaking Thing That I've Learned About 'The Elite'.
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Bitcoin And 'The Elite' - Why Bitcoin Is Not Revolutionary
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