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China just made all transactions in bitcoin/crypto illegal+unenforceable

13

Comments

  • KyleranKyleran Member LegendaryPosts: 44,057
    Theocritus said:
    Wargfoot said:
    If the US Govt. gets the sense that crypto is a threat to the US Dollar they'll ban it here as well.  We can stop pretending that China is unique in its sense of self preservation - we've been pretty draconian over here at times as well.

    Unless of course the people making the laws are heavily invested in it themselves.......
    An anonymous, difficult to track money laundering vehicle, what government official would ever be interested in something like that?

     :D 
    bcbullyTheocritusTuor7

    "True friends stab you in the front." | Oscar Wilde 

    "I need to finish" - Christian Wolff: The Accountant

    Just trying to live long enough to play a new, released MMORPG, playing New Worlds atm

    Fools find no pleasure in understanding but delight in airing their own opinions. Pvbs 18:2, NIV

    Don't just play games, inhabit virtual worlds™

    "This is the most intelligent, well qualified and articulate response to a post I have ever seen on these forums. It's a shame most people here won't have the attention span to read past the second line." - Anon






  • bcbullybcbully Member EpicPosts: 11,843
    Wargfoot said:
    Wargfoot said:
    If the US Govt. gets the sense that crypto is a threat to the US Dollar they'll ban it here as well.  We can stop pretending that China is unique in its sense of self preservation - we've been pretty draconian over here at times as well.

    Unless of course the people making the laws are heavily invested in it themselves.......
    Right.

    Until such time as crypto can be audited it needs to be outlawed.
    This is just another way for our politicians to be purchased.
    https://twitter.com/whale_alert
    Check this out. Every large movement from every single wallet all day everyday. From point A to point B.  100,000,000 USDC moved from ____  exchange to unkown wallet. 

    https://etherscan.io/
    here you can see EVERY movement on the Etherium blockchain. 

    "Who" is something that is not easily seen, but is easily found out whenever whoever that person is whats to find out. It becomes even easier when the crypto currencies hit off ramps to fiat. 

    Just like fiat exxhanging hand to hand is hard to trace. Unlike fiat there is a immutible followable record.
  • VrikaVrika Member LegendaryPosts: 7,989
    bcbully said:
    Wargfoot said:
    Wargfoot said:
    If the US Govt. gets the sense that crypto is a threat to the US Dollar they'll ban it here as well.  We can stop pretending that China is unique in its sense of self preservation - we've been pretty draconian over here at times as well.

    Unless of course the people making the laws are heavily invested in it themselves.......
    Right.

    Until such time as crypto can be audited it needs to be outlawed.
    This is just another way for our politicians to be purchased.
    https://twitter.com/whale_alert
    Check this out. Every large movement from every single wallet all day everyday. From point A to point B.  100,000,000 USDC moved from ____  exchange to unkown wallet. 

    https://etherscan.io/
    here you can see EVERY movement on the Etherium blockchain. 

    "Who" is something that is not easily seen, but is easily found out whenever whoever that person is whats to find out. It becomes even easier when the crypto currencies hit off ramps to fiat. 

    Just like fiat exxhanging hand to hand is hard to trace. Unlike fiat there is a immutible followable record.
    Auditing crypto doesn't work too well: You can show the legit part of your money and hide the illegal part in anonymous wallet.
     
  • QuizzicalQuizzical Member LegendaryPosts: 25,499
    If cryptocurrency transactions make it so easy to track down who is involved, then why do ransomware scammers want to be paid in cryptocurrency?  Wouldn't that make it easy to find out who they are, arrest them, and send them to prison?  Unless, of course, it's actually quite difficult to track down who is involved in the transaction.
    ScotMendel
  • ringdanyringdany Member UncommonPosts: 195
    edited September 2021
    bcbully said:
    Wargfoot said:
    Wargfoot said:
    If the US Govt. gets the sense that crypto is a threat to the US Dollar they'll ban it here as well.  We can stop pretending that China is unique in its sense of self preservation - we've been pretty draconian over here at times as well.

    Unless of course the people making the laws are heavily invested in it themselves.......
    Right.

    Until such time as crypto can be audited it needs to be outlawed.
    This is just another way for our politicians to be purchased.
    https://twitter.com/whale_alert
    Check this out. Every large movement from every single wallet all day everyday. From point A to point B.  100,000,000 USDC moved from ____  exchange to unkown wallet. 

    https://etherscan.io/
    here you can see EVERY movement on the Etherium blockchain. 

    "Who" is something that is not easily seen, but is easily found out whenever whoever that person is whats to find out. It becomes even easier when the crypto currencies hit off ramps to fiat. 

    Just like fiat exxhanging hand to hand is hard to trace. Unlike fiat there is a immutible followable record.
    lol i dont think crypto supporters understand. Having worked as a market maker in the NYSE and in commodity markets, crypto is just a HUGE SCAM where criminal mega players have cornered the market and are just sucking in millions of innocent traders, ready to vacuum them dry when the big players dump everything. lol, it's the same as scams like the cornering of the silver market in 1980 (which did not end well for the scammers, but all the small guys lost al their money): the https://en.wikipedia.org/wiki/Silver_Thursday
  • bcbullybcbully Member EpicPosts: 11,843
  • bcbullybcbully Member EpicPosts: 11,843
    edited September 2021
    ringdany said:
    bcbully said:
    Wargfoot said:
    Wargfoot said:
    If the US Govt. gets the sense that crypto is a threat to the US Dollar they'll ban it here as well.  We can stop pretending that China is unique in its sense of self preservation - we've been pretty draconian over here at times as well.

    Unless of course the people making the laws are heavily invested in it themselves.......
    Right.

    Until such time as crypto can be audited it needs to be outlawed.
    This is just another way for our politicians to be purchased.
    https://twitter.com/whale_alert
    Check this out. Every large movement from every single wallet all day everyday. From point A to point B.  100,000,000 USDC moved from ____  exchange to unkown wallet. 

    https://etherscan.io/
    here you can see EVERY movement on the Etherium blockchain. 

    "Who" is something that is not easily seen, but is easily found out whenever whoever that person is whats to find out. It becomes even easier when the crypto currencies hit off ramps to fiat. 

    Just like fiat exxhanging hand to hand is hard to trace. Unlike fiat there is a immutible followable record.
    lol i dont think crypto supporters understand. Having worked as a market maker in the NYSE and in commodity markets, crypto is just a HUGE SCAM where criminal mega players have cornered the market and are just sucking in millions of innocent traders, ready to vacuum them dry when the big players dump everything. lol, it's the same as scams like the cornering of the silver market in 1980 (which did not end well for the scammers, but all the small guys lost al their money): the https://en.wikipedia.org/wiki/Silver_Thursday
    1980 - 8 track casset player were still in cars
             - Ronald Ragan was begining his  first term
             - The space shuttle was only a dream
             - The concept of cable TV was new. 98% of homes had huge                            antinas on their  roofs.
             - Personal computers ran on casset tapes.

    Today Automatic market makers AMM are driving the market. Uniswap being the leader. Permissionless offering yield bearing liquidity pools for instant trades. Running the back end for those apps you trade with on your phone. Here brush up on how todays market works -
    https://academy.shrimpy.io/post/what-is-an-amm-automated-market-maker

    Ever wonder why your stocks are moving the way they do? Did you think that actual real people were place 100s of million trades a day by clicking buy or sale? 

    Yes, you were replaced by an algorithm


    Fun Fact - Not to long before 1980 alternating current was scary and cars were seen as impractical.

    Post edited by bcbully on
  • bcbullybcbully Member EpicPosts: 11,843
    edited October 2021
    bcbully said:
    Interesting development in this^^^^story. VISA depolyed its first Universal Payment Channel contract on Etherium's Ropsten testnet around 9:30 EST lastnight.

    To take it a step a step further accounts associated  seems to have worked a bit on Fantom and a lot on Polygon.

    Why is this so interesting? People are watching real time what VISA is doing. 

    Let that sink in. VISA's inner workings are being watched real time by the public.

    The Transparency of blockchain is powerful.

    https://ropsten.etherscan.io/address/0xadb1f7e78a3ac3d0a006961f95d96bbb0ec14326#code
  • KyleranKyleran Member LegendaryPosts: 44,057
    This is one of my favorite threads on the site. ;)
    bcbully

    "True friends stab you in the front." | Oscar Wilde 

    "I need to finish" - Christian Wolff: The Accountant

    Just trying to live long enough to play a new, released MMORPG, playing New Worlds atm

    Fools find no pleasure in understanding but delight in airing their own opinions. Pvbs 18:2, NIV

    Don't just play games, inhabit virtual worlds™

    "This is the most intelligent, well qualified and articulate response to a post I have ever seen on these forums. It's a shame most people here won't have the attention span to read past the second line." - Anon






  • bcbullybcbully Member EpicPosts: 11,843
    hmmmmm 

  • VrikaVrika Member LegendaryPosts: 7,989
    bcbully said:
    This "information" was made up for you by employee of cryptocurrency-exchange and bank.
     
  • bcbullybcbully Member EpicPosts: 11,843
    Vrika said:
    bcbully said:
    This "information" was made up for you by employee of cryptocurrency-exchange and bank.
    Tony Blair was using bitcoin?
  • KyleranKyleran Member LegendaryPosts: 44,057
    edited October 2021
    bcbully said:
    Because most those guys are too old to understand or deal in crypto?

    bcbully

    "True friends stab you in the front." | Oscar Wilde 

    "I need to finish" - Christian Wolff: The Accountant

    Just trying to live long enough to play a new, released MMORPG, playing New Worlds atm

    Fools find no pleasure in understanding but delight in airing their own opinions. Pvbs 18:2, NIV

    Don't just play games, inhabit virtual worlds™

    "This is the most intelligent, well qualified and articulate response to a post I have ever seen on these forums. It's a shame most people here won't have the attention span to read past the second line." - Anon






  • kitaradkitarad Member LegendaryPosts: 8,177
    Kyleran said:
    bcbully said:
    Because most those guys are too old to understand or deal in crypto?

    I doubt these geezers did it by themselves.

  • bcbullybcbully Member EpicPosts: 11,843
  • VrikaVrika Member LegendaryPosts: 7,989
    edited October 2021
    Kyleran said:
    bcbully said:
    Because most those guys are too old to understand or deal in crypto?

    Because none of the Pandora papers come from crypto banks. If we had a crypto bank's data instead then we'd have the exact opposite result that 99,9% of hidden investments are in crypto.

    Also what Pandora Papers revealed was hidden investments. Corruption can be deduced in some cases when the owner of hidden investments in a politician, but Pandora Papers don't really tell how the money originally came, just who it owns it.

    The crypto bank employee who gave that "corruption" statistics naturally called it corruption (or anything but hidden investments), since he also gives advice on how to hide your property from government using crypto so that you can avoid taxes and it would be very bad business for him to tell it as it is: Those papers just revealed immense amounts of money that people were hiding from their governments.
    KyleranSlapshot1188
     
  • bcbullybcbully Member EpicPosts: 11,843
    Vrika said:
    Kyleran said:
    bcbully said:
    Because most those guys are too old to understand or deal in crypto?

    Because none of the Pandora papers come from crypto banks. If we had a crypto bank's data instead then we'd have the exact opposite result that 99,9% of hidden investments are in crypto.

    Also what Pandora Papers revealed was hidden investments. Corruption can be deduced in some cases when the owner of hidden investments in a politician, but Pandora Papers don't really tell how the money originally came, just who it owns it.

    The crypto bank employee who gave that "corruption" statistics naturally called it corruption (or anything but hidden investments), since he also gives advice on how to hide your property from government using crypto so that you can avoid taxes and it would be very bad business for him to tell it as it is: Those papers just revealed immense amounts of money that people were hiding from their governments.
     whaaaat?









    55k

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  • laseritlaserit Member LegendaryPosts: 7,591
    Kyleran said:
    bcbully said:
    Because most those guys are too old to understand or deal in crypto?

    Because scammers find fiat currency more valuable by a factor of 99.9:0.1

    "Be water my friend" - Bruce Lee

  • bcbullybcbully Member EpicPosts: 11,843
  • bcbullybcbully Member EpicPosts: 11,843
    1 1/2 months ago. China FUD. Bitcoin is dead

    Today - Bitcoin ETF hits the NYSE. Bitcoin touches all-time high $64,343


    Question, If the SEC believes crypto is safe enough for your retirement fund, why is the anti-crypto sentiment so pervasive on these forums?
  • AsheramAsheram Member EpicPosts: 5,078
    So if china banned crypto and epic which is 40% owned by china company tencent is embracing crypto where does that leave tencent?
    bcbully
  • IllvrIllvr Member UncommonPosts: 14
    ringdany said:
    bcbully said:
    Wargfoot said:
    Wargfoot said:
    If the US Govt. gets the sense that crypto is a threat to the US Dollar they'll ban it here as well.  We can stop pretending that China is unique in its sense of self preservation - we've been pretty draconian over here at times as well.

    Unless of course the people making the laws are heavily invested in it themselves.......
    Right.

    Until such time as crypto can be audited it needs to be outlawed.
    This is just another way for our politicians to be purchased.
    https://twitter.com/whale_alert
    Check this out. Every large movement from every single wallet all day everyday. From point A to point B.  100,000,000 USDC moved from ____  exchange to unkown wallet. 

    https://etherscan.io/
    here you can see EVERY movement on the Etherium blockchain. 

    "Who" is something that is not easily seen, but is easily found out whenever whoever that person is whats to find out. It becomes even easier when the crypto currencies hit off ramps to fiat. 

    Just like fiat exxhanging hand to hand is hard to trace. Unlike fiat there is a immutible followable record.
    lol i dont think crypto supporters understand. Having worked as a market maker in the NYSE and in commodity markets, crypto is just a HUGE SCAM where criminal mega players have cornered the market and are just sucking in millions of innocent traders, ready to vacuum them dry when the big players dump everything. lol, it's the same as scams like the cornering of the silver market in 1980 (which did not end well for the scammers, but all the small guys lost al their money): the https://en.wikipedia.org/wiki/Silver_Thursday

    Sounds exactly how the NYSE operates.
    laseritbcbully
  • laseritlaserit Member LegendaryPosts: 7,591
    bcbully said:
    hmmmmm 

    The guy is totally correct.

    What do you think these crooks do with the crypto they’ve scammed and ransomed?

    Why convert it into fiat of course.

    Nice way to launder, these days as well.

    "Be water my friend" - Bruce Lee

  • bcbullybcbully Member EpicPosts: 11,843
    laserit said:
    bcbully said:
    hmmmmm 

    The guy is totally correct.

    What do you think these crooks do with the crypto they’ve scammed and ransomed?

    Why convert it into fiat of course.

    Nice way to launder, these days as well.
    Crooks as in The United States Securites and Exchange Commision, or The New Your Stock Exchage? Greyscale Maybe? Ohhh you talking about the Governor of Wyoming, or was it the Mayor of Miami? Senator Toomey?

    I know, iknow you talking about Ernest and Youg, Morgan Stanley and Microsoft.

    Noooo, PYAPAL!

    Twitter maybe?




    #DYOR
This discussion has been closed.