Thread: Blockchain/crypto

Originally Posted by BroncoWave

I trust the crypto industry less than I trust Drew Lock unattended in a QB room. That industry is shady from top to bottom. No surprise the feds are finding stuff.

Originally Posted by BroncoWave

I trust the crypto industry less than I trust Drew Lock unattended in a QB room. That industry is shady from top to bottom. No surprise the feds are finding stuff.

Eh. Idk mate. The SEC has tons of targets it can choose from, and often has a politically driven impetus to go after one or the other if it's a big fish or a high-leverage suit. SEC is kind of a gun at the disposal of Atty General or DOJ and such. I forget the actual chain of command but I spent a whole semester in a 5-person 'repping clients before the SEC' class. Although the letter of the law is black and white, there's a shit ton of gray, generally speaking, and even more in this situation (the nascence of crypto) in particular. And why a Wells Notice instead of something more informal?

Hey, Coinbase could be in dire need of an SEC investigation. I'm just saying that I'm not so sure that's the case. Coinbase is probably one of the ones that is really, really, trying to do everything by the book. That's my gut feel, but I'm shooting from my crypto-hip.

Originally Posted by Hawgdriver

Eh. Idk mate. The SEC has tons of targets it can choose from, and often has a politically driven impetus to go after one or the other if it's a big fish or a high-leverage suit. SEC is kind of a gun at the disposal of Atty General or DOJ and such. I forget the actual chain of command but I spent a whole semester in a 5-person 'repping clients before the SEC' class. Although the letter of the law is black and white, there's a shit ton of gray, generally speaking, and even more in this situation (the nascence of crypto) in particular. And why a Wells Notice instead of something more informal?

Hey, Coinbase could be in dire need of an SEC investigation. I'm just saying that I'm not so sure that's the case. Coinbase is probably one of the ones that is really, really, trying to do everything by the book. That's my gut feel, but I'm shooting from my crypto-hip.

straight up criminals.

1.3 billion live under double or triple digit inflation . Millions of them have turned to BTC as a way out. And the US instead of being the beacon of liberty on the hill, its turning them all away. We need a Statue of Crypto Liberty.

SEC looking to punt to the courts. Shitty they asking for who's on the lending lists.

Good to be a pirate. Decentralized no-KYC exchanges

Solana

Originally Posted by Bronco Yoda

Decentralized no-KYC exchanges

I'm sure that's sustainable...

Originally Posted by Hawgdriver

I'm sure that's sustainable...

Just think of it like visiting a red light district and don't forget your hazmat suite!

tell me again why crypto needs to be regulated while the fed buys securities it owns lol.

https://www.cnbc.com/2021/09/17/fed-...conflicts.html

Originally Posted by ShaneFalco

tell me again why crypto needs to be regulated while the fed buys securities it owns lol.

https://www.cnbc.com/2021/09/17/fed-...conflicts.html

It doesn't. Just more thievery by the ruling criminal elites. Hopefully, decentralization wins the day. Think true privacy coins and real atomic swaps!

I don't think the majority of crypto users are criminals, but I definitely think most if not all money laundering has moved to the crypto/nft space at this point. I'd think legit crypto users would at least want those people weeded out.

Originally Posted by BroncoWave

I don't think the majority of crypto users are criminals, but I definitely think most if not all money laundering has moved to the crypto/nft space at this point. I'd think legit crypto users would at least want those people weeded out.

Freeeeeeedom over safety.

Don't you kids have enough safe spaces already?

Originally Posted by Bronco Yoda

Freeeeeeedom over safety.

Don't you kids have enough safe spaces already?

Money laundering isn't a freedom we have. It's a crime. And crypto is wrought with it, so that's where the feds are going to focus.

Originally Posted by BroncoWave

I don't think the majority of crypto users are criminals, but I definitely think most if not all money laundering has moved to the crypto/nft space at this point. I'd think legit crypto users would at least want those people weeded out.

Money laundering was done with US cash probably more than any other currency on planet before crypto.