yeah that's a good way to put it !
Official BGOL Crypto Currency Thread ★★★★★
- Thread starter Matt Beesy
- Start date
As other have said Binance.US, Celsius and Kraken
Coinbase CEO: Brian Armstrong is worried the Trump Administration is about to send the cryptocurrency industry a parting gift.
Brian Armstrong is worried the Trump Administration is about to send the cryptocurrency industry a parting gift.
The Coinbase CEO took to Twitter Wednesday night to blast the U.S. Treasury Department’s rumored plans to attempt to track owners of self-hosted cryptocurrency wallets with an onerous set of data-collection requirements.
If the whispers are to be believed, outgoing Treasury Secretary Steven Mnuchin is preparing to tamp down on one of the fundamental tenets of the cryptocurrency ethos: the ability of the individual to hold their crypto (unmolested) themselves.
“This proposed regulation would, we think, require financial institutions like Coinbase to verify the recipient/owner of the self-hosted wallet, collecting identifying information on that party, before a withdrawal could be sent to that self-hosted wallet,” Armstrong tweeted.
If true, the regulation would represent a broadside against the U.S. cryptocurrency industry like few ever levied by the federal government. It would force corporations to know every counterparty to their users’ crypto transactions, keeping logs, tracking movements, and verifying identities even before a transfer could take place.
It would also bring to pass the worst-case scenario envisioned by industry players when the Financial Action Task Force (FATF), an intergovernmental body, told its member countries to apply the so-called travel rule to crypto businesses last year. This long-standing rule requires financial institutions to collect information about the sender and receiver of a money transfer. But it was ambiguous what that would mean when someone sends bitcoin (BTC, -13.01%) from, say, their Coinbase account to an address controlled by a private key on a sheet of paper kept in a sock drawer.
The Treasury Department did not immediately respond to a request for comment.
Widespread impact
And it would not just affect those who store their coins on a hardware device like Trezor or Ledger. Many crypto services use non-custodial wallets. Decentralized finance (DeFi) smart contracts. Software wallets, paper storage. All would need to prove their provenance to transact with regulated entities under the rumored rule.
Such a sweeping interpretation of FATF guidance has already been applied in Switzerland and the Netherlands. There, virtual asset service providers (VASPs) must prove the ownership of non-custodial crypto wallets ahead of transfer.
Armstrong said Wednesday that such a regulation “would be a terrible legacy and have long-standing negative impacts for the U.S.”
“This additional friction would kill many of the emerging use cases for crypto. Crypto is not just money – it is digitizing every type of asset,” he said.
To date, regulation of decentralized cryptocurrency networks had been mostly limited to the on/off ramps between the networks and the traditional finance system, according to Jacob Farber, partner at blockchain law and consulting firm Ouroboros LLP.
This state of affairs left the industry “mostly unregulated” and private, such that it has been able to offer a real alternative to traditional finance, Farber said.
“Imposing a KYC [know-your-customer] requirement on transactions between on/off ramps and every wallet that transacts with them expands the reach of regulation over crypto exponentially,” Farber added. “More importantly, it changes what crypto can be, at least at scale.”
He called Armstrong’s concerns justified and said these potential regulations should be taken seriously by the cryptocurrency community.
Preemptive strikes?
Armstrong’s tweets appeared to break long-simmering industry fears over this kind of regulation into full public view.
In recent days, multiple cryptocurrency lobbyists and advocacy groups have staged what in hindsight appears to have been a soft influence campaign to shape public opinion of non-custodial wallets.
Coin Center published a think piece on the “unintended consequences” of non-hosted wallet restrictions on Nov. 18.
The Blockchain Association, which Coinbase abandoned this year, released a 50-page policymakers’ guide to self-hosted wallets around the same time.
“The Blockchain Association has long been aware that some regulators in the U.S. and overseas have concerns about self-hosted wallets,” Executive Director Kristin Smith told CoinDesk. “We are actively educating officials in both the executive branch and the legislative branch in order to address misconceptions about self-hosted wallets.”
Coinbase CEO: Trump Administration May 'Rush Out' Burdensome Crypto Wallet Rules
Coinbase CEO Brian Armstrong publicly voiced concern the outgoing Trump Administration may ram through onerous new data-collection requirements for crypto exchanges.www.coindesk.com
Wouldn't civic coin pump if this happens? That's their thing..idenification Verification protocol.hm
this is what i haven't learned to do well enuff
thanks for this info , need to look into this , my thing is i sometimes forget about my stash and when i check back periodically , i notice that i should've moved some $$ outta my stash when it was pretty highThat is a problem as long as fiat is king. However there is a hedge fund app that will move profits to USDT when run-ups happen and there is significant volatility.
Check out Stoic by Cindicator Capital. I been using the app since September. Started with the minimum $1,000 deposit.
Value is now over $1,800.
And the app moved value to USDT when the mini bear hit and notified me this morning that it will begin trading back into other coins again soon.
You will need a full featured (non US) Binance account so fire up your VPN and anonymous email and get going!!!
Do your own research!!!
also for those who want Ledger got the black friday sale, i just copped the Nano X for $79 with the BLACKFRIDAY20
Got the s for 52 shipped
nice !! yeah i already got the s last year but checked out the x and like the new features
Hope ya'll bought from a reputable place
or you won't need to worry about your coins/tokens no more
bought both directly from ledger website! didnt wanna take no chances
they do the money conversion live
Shit. I hope they kept the receipt for a fucking selfie. Cocksucker Mnuchin trying to get U.S. citizens to go through KYC to withdraw to our own fucking wallets. Dutch already doing that dumb shit. Making people take selfies with their own fucking wallets.
As 'free' U.S. citizens, we fast approaching the day these greedy fucks will freeze our crypto if we put it on an exchange from a unhosted wallet we didn't KYC. Swear I hate these dirty cacs with a passion.
These fucks going to try to freeze U.S. citizens out of the defi market since those addresses/smart contracts aint KYC'd. Pure fuckery man. Can't believe sometime in 2021 or 2022 I'm going to have to take a fucking selfie with my ledger.
bought both directly from ledger website! didnt wanna take no chances
Yep got mine from ledger website they have the Black Friday deal. Probably should have the trezor.
Haven't followed the Civic project that closely.
Did manage to get into their wallet beta test. Established identity and was able to convert fiat to ETH and USDC for about a month. Then Civic discontinued that service.
Wallet is cool but the only real feature is hack insurance. Without an interest component and no fiat their wallet is just a novelty.
Civic coin will pump if Civic ID is chosen by Coinbase as their standard for identification.
Coinbase Preemptively Rebuts Unpublished New York Times Expose
Cryptocurrency exchange Coinbase has publicly shared an internal letter pushing back at an as-yet unpublished article in the New York Times that, it says, will allege Black employees had “negative experiences” while with the firm.
The letter, posted on the company’s blog Thursday, states that NYT journalist Nathaniel Popper has been interviewing current and former staff over recent weeks and will “allege that a number of Black employees and contractors referenced in the story filed complaints with the company.”
Coinbase writes:
By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy.
The letter goes on to say that, despite the firm’s “best efforts” to provide relevant information to Popper, Coinbase expects “the story will paint an inaccurate picture that lacks complete information and context.”
“Finally, let me be absolutely clear on these points: We are committed to maintaining an environment that is safe, supportive and welcoming to employees of all backgrounds,” the unnamed writer (possibly CEO Brian Armstrong) says. “We do not accept intolerant behavior. And we are committed to the refreshed Belonging, Inclusion and Diversity strategy we rolled out earlier this quarter.”
The New York Times will publish the article in print on Sunday and possibly before that in online versions, according to the post.
A second PR blow for Coinbase
The anticipated article and the firm’s preemptive response are now building to be the second major PR blow for Coinbase this year, after a controversial blog post from Armstrong in the summer set out that he would effectively bar most political activism in its workplace and focus on the “mission.”
The missive apparently came about after internal protests were sparked when the CEO would not publicly back the “Black Lives Matter” movement, but would state that “black lives matter.” He later compromised in a tweet.
At least 60 people took the opportunity to leave in September, including several executives, after Coinbase offered severance packages to staff unhappy with the new stance.
www.coindesk.com
Cryptocurrency exchange Coinbase has publicly shared an internal letter pushing back at an as-yet unpublished article in the New York Times that, it says, will allege Black employees had “negative experiences” while with the firm.
The letter, posted on the company’s blog Thursday, states that NYT journalist Nathaniel Popper has been interviewing current and former staff over recent weeks and will “allege that a number of Black employees and contractors referenced in the story filed complaints with the company.”
Coinbase writes:
The letter, which was not signed but references the first person in places, appears to be an effort to take the sting out of the report by controlling the narrative before it’s even started. “We provided several written, on-the-record statements to The Times. We have no control over whether and how The Times uses those statements (in whole or in part) in the story,” Coinbase says.
By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy.
The letter goes on to say that, despite the firm’s “best efforts” to provide relevant information to Popper, Coinbase expects “the story will paint an inaccurate picture that lacks complete information and context.”
“Finally, let me be absolutely clear on these points: We are committed to maintaining an environment that is safe, supportive and welcoming to employees of all backgrounds,” the unnamed writer (possibly CEO Brian Armstrong) says. “We do not accept intolerant behavior. And we are committed to the refreshed Belonging, Inclusion and Diversity strategy we rolled out earlier this quarter.”
The New York Times will publish the article in print on Sunday and possibly before that in online versions, according to the post.
A second PR blow for Coinbase
The anticipated article and the firm’s preemptive response are now building to be the second major PR blow for Coinbase this year, after a controversial blog post from Armstrong in the summer set out that he would effectively bar most political activism in its workplace and focus on the “mission.”
The missive apparently came about after internal protests were sparked when the CEO would not publicly back the “Black Lives Matter” movement, but would state that “black lives matter.” He later compromised in a tweet.
At least 60 people took the opportunity to leave in September, including several executives, after Coinbase offered severance packages to staff unhappy with the new stance.
Coinbase Preemptively Rebuts Unpublished New York Times Expose
The letter pushes back at an unpublished article Coinbase says will allege Black employees had "negative experiences" while with the firm.
so stoic is strictly for CRYPTO right ? how do u utilise it ?That is a problem as long as fiat is king. However there is a hedge fund app that will move profits to USDT when run-ups happen and there is significant volatility.
Check out Stoic by Cindicator Capital. I been using the app since September. Started with the minimum $1,000 deposit.
Value is now over $1,800.
And the app moved value to USDT when the mini bear hit and notified me this morning that it will begin trading back into other coins again soon.
You will need a full featured (non US) Binance account so fire up your VPN and anonymous email and get going!!!
I did he same just nowbought both directly from ledger website! didnt wanna take no chances
Anybody staking $STMX?
Somebody on there staking 80,000,000 tokens
(Current Prices) Paying out $1,800 per week $7,800 a month and $188,000 a year
Somebody on there staking 80,000,000 tokens
(Current Prices) Paying out $1,800 per week $7,800 a month and $188,000 a year
DeFi Coins are mostly on Uniswap. I only mention it because it is the most popular and has the most liquidity. BUT there are scams on Uniswap and the GAS fees can be too high for low volume (under $1k) trades.
For a more robust interface try UinLayer
There are aggregators that scan the DeFi exchanges and get you the best rate for your trade taking into account exchange and GAS fees. One such aggregator is 1inch.
As always, do your own research.
Oh yeah, to trade on a DEX you will have to connect a wallet. The most versatile is Metamask.
Yes, Stoic by Cindicator Capital is strictly crypto.
The link explains it all...
Open a full featured Binance account.
Fund the account with about $1200 in crypto ($1000 minimum, $50 for annual fee, $150 as cushion)
Download the Stoic app
Connect the API from the account to the app
Watch the results
Take profits whenever you want.
Add value whenever you want...
For more, click the link for Stoic by Cindicator Capital.
[not an affiliate link]
Do your own research...
thanks man
Anytime this thread pops up on the main page it's usually time to sell
FOMO.
Usually I just buy a set amount every week no matter what. Lately though circumstances have forced me to sell some bitcoin. Just happy it went up when it did
Hopefully your circumstance changes and you buy the dips.
The range for the price target by year's end is between 100-500k.
Longs will wind and win big.
***EDIT*** Year's end references 2021
Last edited:
We have 31 days left in the year.
My circumstances will change as soon as lockdown ends. Already got a bunch of DJ gigs booked.
Also, I predict that the price is gone up in part because of how emotional the stock market has gotten lately. Everyone's pulling out and buying Bitcoin instead.
Correct, and these too:
1. Devaluation of the dollar
2. Institutional buying
4. Stock market failing
5. FOMO
6 BTC Decreasing supply
I remember the credit card bullshit well. What a difference a few years makes.
I did too
Heres a list of coins coinbase has already but more importantly is considering adding.gonna pick some
Cheap ones and load up.
custody.coinbase.com
Cheap ones and load up.