Possible Bad News For US Crypto Miscers...

[BetaAsPhuck]

Coinbase is trash anyway.

Also:

https://99bitcoins.com/bitcoin-obituaries/

It doesn't just apply to Coinbase.

[BetaAsPhuck]

doesn't Coinbase already require KYC?

Not for Wallets outside of their exchange. The potential legislation looks like it will mean they will need KYC for the wallet you are transferring your crypto held on their exchange to.

Meaning, if you have a Bitcoin wallet on Coinbase and want to transfer it to another wallet they will need to get ID from whoever owns the wallet.

[PimpMasterC]

What use cases?

Tokenization of real assets like real estate or projects, voting systems on the blockchain, car and drone decentralized navigation systems, and more. This is the future of decentralized blockchains and crypto. Bitcoin is not attractive to any of these usecases, so other cryptos that eventually provide a lot of usecases will eventually CRUSH Bitcoin, which only relies on speculation. Bitcoin will go to zero because it will be out competed by better options. Simple market dynamics, simple economics.

[katya422]

Wrong reasons.

BTC and other coins are outside the system they want to control with a central bank issued coin. You think they will get rid of cash and allow plebs to use something else other than what they're told to use?

I got sum bad news.

afaik the US is the worst/most controlling of their citizens' money. many foreign banks won't issue accounts to US ctizens because the reporting is a PITA.

to get out from under the US you have to find another country to grant you citizenship and may have to pay an exit tax:

Expatriation on or after June 17, 2008
If you expatriated on or after June 17, 2008, the new IRC 877A expatriation rules apply to you if any of the following statements apply.

Your average annual net income tax for the 5 years ending before the date of expatriation or termination of residency is more than a specified amount that is adjusted for inflation ($151,000 for 2012, $155,000 for 2013, $157,000 for 2014, and $160,000 for 2015).
Your net worth is $2 million or more on the date of your expatriation or termination of residency.

You fail to certify on Form 8854 that you have complied with all U.S. federal tax obligations for the 5 years preceding the date of your expatriation or termination of residency.
If any of these rules apply, you are a “covered expatriate.”

atm you owe almost $70K for being born here:



Not sure why INS doesn't just charge an entry fee of $100K a head to become a US citizen + proof of means to be self-supporting.

A lot more crypto regulations will come in 2021. This is just the beginning. My m8 is working in one of the biggest banks in my country and confirms that stricter regulation are coming to Europe as well.

sigh...

dude, the biggest banks in the world conspire to fake markets and do all sorts of shady chit that would net a normal person or group 100+ years in a Fed supermax.

Banksters want more control.

yes. not sure how anyone could still think that the banks are the good guys (GOO).

[BetaAsPhuck]

Only idiots thought Crypto would be untouchable by the government.

I agree. No doubt they would try to reign in exchanges.

I agree with people who say that decentralized selling, and Monero are the gold standard for crypto. Untouchable by the government.

Roger Ver seems to be one of the leaders behind trying to get public adoption of crypto, and it seems that he and the BitcoinCash team are maintaining that you don't need ID to buy or sell via fiat on an official exchange https://local.bitcoin.com/

[gixxer0.6g]

In on thread number 576 over the last 10 years that has said crypto is dead.

[messomi]

katya mic drop.

[badbart]

Plenty of ways to circumvent this rule and its unlikely to happen anyways.

lol snd its rebounding already.

[BetaAsPhuck]

Tokenization of real assets like real estate or projects, voting systems on the blockchain, car and drone decentralized navigation systems, and more. This is the future of decentralized blockchains and crypto. Bitcoin is not attractive to any of these usecases, so other cryptos that eventually provide a lot of usecases will eventually CRUSH Bitcoin, which only relies on speculation. Bitcoin will go to zero because it will be out competed by better options. Simple market dynamics, simple economics.

I agree 100%. Tokens that actual have a use within an ecosystem will likely survive.

Bittorrent has an interesting system, where the Token is actually used to direct resources. If you give tokens to uploaders you can get faster download speeds, so it incentivizes people to seed.

Right now the crypto market is just based on speculative investment.

[PimpMasterC]

Plenty of ways to circumvent this rule and its unlikely to happen anyways.

It´s still a factor which makes it less attractive for the average investor. Combine this with the stricter tax laws, and regulations of tether and crack down on exchanges. A lot of exchanges will be out of bussiness in 2021, and they will dump a lot of cryptos. 2021 is looking bearish, especially for bitcoin. Also remember regulation of bitcoin miners, every bitcoin miner will be regulated and known by the government.

We have long been in a speculative mania, which has lead to the current bubble. And bubbles eventually pop.

The entire bitcoin ecosystem is built and supported by specualtion alone. Only a complete moron would not see that it´s eventually gonna end.

[badbart]

It´s still a factor which makes it less attractive for the average investor. Combine this with the stricter tax laws, and regulations of tether and crack down on exchanges. A lot of exchanges will be out of bussiness in 2021, and they will dump a lot of cryptos. 2021 is looking bearish, especially for bitcoin. Also remember regulation of bitcoin miners, every bitcoin miner will be regulated and known by the government.

lol, ok drama queen.

[PimpMasterC]

lol, ok drama queen.

nice arguments, you really convinced me

[BetaAsPhuck]

In on thread number 576 over the last 10 years that has said crypto is dead.

That wasn't the intention behind this thread at all.

It's warning US peeps that the US government is potentially increasing it's stranglehold.

[badbart]

In on thread number 576 over the last 10 years that has said crypto is dead.

Ive been ming since 2016 and the drama never stops. Great time to take advantage if these fools. Ill bump at 20k.

[dopamine72]

I see allot of ignorant posts by idiots who think they know everything about crypto (typical miscers). Probably because you kunts are so butt hurt missing out on multiple massive run ups.

There are hundreds if not thousands of different wallets you can use to hold btc and plenty of loopholes to get through that mess the US government plans on implementing which will be extremely difficult and time consuming.

This is a cat and mouse game, brand new blockchains are being invented and used which probably none of you even know about on here (once again you guys are stupid)

This is the wild west and don't expect anything to be "regulated" any time soon. Coinbase is a platform for noobs by the way....

Supporting bitcoin is unethical. I´ll buy some other crypto after btc collapses.
Bitcoin will eventually go to zero, as will most other cryptos. Only a few ones with actual usecases will survive.

Quoted for ignorance, you literally have to purchase btc first before you can buy any other crypto because you can only buy other crypto with btc....Not any other currency

[MyBaddBrah]

the general public doesn't like crypto and the followers it brings with it? Shocking! Normal people will vote annoying crypto ***s off the face of the earth? Sounds like non-clown world to me, and i'm in full support.

[badbart]

That wasn't the intention behind this thread at all.

It's warning US peeps that the US government is potentially increasing it's stranglehold.

I don't use exchanges regulated by the US government plus coin base has posted this before and nothing happens.

[wave_length]

Yeah well eventually you'll have to pay taxes when you make money with crypto.

[PimpMasterC]

I see allot of ignorant posts by idiots who think they know everything about crypto (typical miscers). Probably because you kunts are so butt hurt missing out on multiple massive run ups.

There are hundreds if not thousands of different wallets you can use to hold btc and plenty of loopholes to get through that mess they are planning on implementing which will be extremely difficult and time consuming.

This is a cat and mouse game, not only that but new blockchains are being invented and used which probably none of you even know about on here (once again you guys are stupid)

This is the wild west and don't expect anything to be "regulated" any time soon. Coinbase is a platform for noobs by the way....


Quoted for ignorance, you literally have to purchase btc first before you can buy any other crypto because you can only buy other crypto with btc....Not any other currency

Are you kidding me? I can buy all the cryptos I want to buy right now on coinbase or binance without even touching bitcoin first.

Of course there is possibilties to bypass most of these coming regulations, but thats not the point. The point is that it´s a short-mid term bearish factor since it makes it slightly more difficult or hurts the integrity of the crypto philoshopy. A lot of the current exchanes will suffer when the new regulations eventually come, and that will have butterfly effects.

I´m only butthurt that people still think bitcoin is gonna become much bigger than it is today, without any usecases backing up that price increase. The price only goes up by the greater fool buying, not by any real life usecases increasing.

[tbonestake]

Thanks trump

[dopamine72]

Are you kidding me? I can buy all the cryptos I want to buy right now on coinbase or binance without even touching bitcoin first.
Of course there is possibilties to bypass most of these coming regulations, but thats not the point. The point is that it´s a short-mid term bearish factor since it makes it slightly more difficult or hurts the integrity of the crypto philoshopy. A lot of the current exchanes will suffer when the new regulations eventually come, and that will have butterfly effects.

Btc won't die anytime soon, maybe you can buy some crypto without it...but the vast majority of crypto can only be purchased with btc, period. Coinbase is one of the most noobish/shady platforms out there too btw.

Like I said cat and mouse game, this will never end in our lifetime its just the beginning. Btc has too many variables keeping it pumped up. PayPal is now implementing it into their platform as well. I believe VISA is also. This just happened.

Stop saying btc is going to zero....You sound like those cucks who said the same chit 5 years ago and every month in between.

[jtaylor2010]

dude, the biggest banks in the world conspire to fake markets and do all sorts of shady chit that would net a normal person or group 100+ years in a Fed supermax.

Banksters want more control.

If you think the govt. isn’t trying to make it easier to track/crackdown on black market activities then you’re missing a huge aspect of this. I said I agree that part of this the desire for monitoring and control. However, if you go on the dark web you see crypto being used for drug purchases, human trafficking, malware, and all kinds of other stuff...and it is the payment of choice for people who run ransomware. Being able to track cryptos would make it a lot easier to fight all of that stuff.

[PimpMasterC]

Btc won't die anytime soon, maybe you can buy some crypto without it...but the vast majority of crypto can only be purchased with btc, period. Coinbase is one of the most noobish/shady platforms out there too btw.

Like I said cat and mouse game, this will never end in our lifetime its just the beginning. Btc has too many variables keeping it pumped up. PayPal is now implementing it into their platform as well. I believe VISA is also. This just happened.

Stop saying btc is going to zero....You sound like those cucks who said the same chit 5 years ago and every month in between.

Bitcoin will be close to worthless in 10 years time. There is too many variables that can make it plummit. Confidence in bitcoin has been on a down trend, and will continue so. Attention will move over to the next generation of crypto, and that attention will leave bitcoin, rendering it useless. It will not be the most secure network in the world for much longer. I´ve been in crypto since like 2014.

Stocks and crypto are being fuled by endless money printing, while the rest of the world carries most of the rising inflation. Really great scam by america, all made possible by the US dollar as a reserve currency. Almost everything is in a bubble now, especiallly crypto.

I never get tired of calling out crypto tards who don´t even now what they´re talking about, economically or technically.

[Scrizzle]

How much for a bitcorn?

[MustardTiger17]

Lmao freedom of peace

Ameri cucks

Feelsbadman

[johnnyboi123]

Imagine if this was happening under obama or biden admin, people would be calling them commies. The hypocrisy this place displays on a regular basis is astounding.

[dopamine72]

Bitcoin will be close to worthless in 10 years time. There is too many variables that can make it plummit. Confidence in bitcoin has been on a down trend, and will continue so. Attention will move over to the next generation of crypto, and that attention will leave bitcoin, rendering it useless. It will not be the most secure network in the world for much longer. I´ve been in crypto since like 2014.

Stocks and crypto are being fuled by endless money printing, while the rest of the world carries most of the rising inflation. Really great scam by america, all made possible by the US dollar as a reserve currency. Almost everything is in a bubble now, especiallly crypto.

A decade is a decent amount of time so I'm halfway inclined to agree with you though I still think it will be around for longer than that because large cap companies are now beginning to accept it as a payment method. Normal every day people don't know how to buy btc or crypto, but when its implemented into platforms such as paypal they will use that and only that because they're unaware/lazy to buy crypto the real way. That + btc is used heavily for blackmarket business, there is HUGE money pumping btc simply because of these factors right here. Its also the most "instant" payment method globally (faster than a bank wire and can be done in the comfort of your home). So there is absolutely still room for it to grow over 20k but I won't make any predictions on this one.

Right now its not on a downtrend because it just hit its ATH a few days ago again. You are correct on its "security" you can track the ledger history and it is traceable so yes BTC is not secure like most originally thought. This is why other cryptos have been created because at the current moment the new cryptos cannot be tracked yet or at least nobody has figured out how. BUT, you need btc to buy this crypto. Hence another reason it won't die anytime soon.

Remember btc is still pretty new and not many of the general population has a clue about it. But because corporations are now starting to implement it, I wouldn't be surprised if it gets pumped past 20k again. I could write an essay on all the reasons why. Just look at the history though, its been holding on strong for more than any of the "anti-bitcoin" people thought it would. And their jimmies are getting rustled hard because of FOMO.

[PimpMasterC]

A decade is a decent amount of time so I'm halfway inclined to agree with you though I still think it will be around for longer than that because large cap companies are now beginning to accept it as a payment method. Normal every day people don't know how to buy btc or crypto, but when its implemented into platforms such as paypal they will use that and only that because they're unaware/lazy to buy crypto the real way. That + btc is used heavily for blackmarket business, there is HUGE money pumping btc simply because of these factors right here. Its also the most "instant" payment method globally (faster than a bank wire and can be done in the comfort of your home). So there is absolutely still room for it to grow over 20k but I won't make any predictions on this one.

Right now its not on a downtrend because it just hit its ATH a few days ago again. You are correct on its "security" you can track the ledger history and it is traceable so yes BTC is not secure like most originally thought. This is why other cryptos have been created because at the current moment the new cryptos cannot be tracked yet or at least nobody has figured out how. BUT, you need btc to buy this crypto. Hence another reason it won't die anytime soon.

Remember btc is still pretty new and not many of the general population has a clue about it. But because corporations are now starting to implement it, I wouldn't be surprised if it gets pumped past 20k again. I could write an essay on all the reasons why. Just look at the history though, its been holding on strong for more than any of the "anti-bitcoin" people thought it would. And their jimmies are getting rustled hard because of FOMO.

A decade is very short time in the grand scheme of things. Compare that to millions of years of gold. If bitcoin survives the next hundred years, I might reconsider my potition, but it won´t.

Very few people actually use bitcoin to buy things with though. It´s never gonna become an adopted usecase, because it´s not suited for that. It´s suited for speculation and hoarding, which are both bad for a currency. And speculation and hoarding of a deflionary asset with a supply cap will lead to a disaster. No regular normie has any reason to buy bitcoin if he doesn´t speculate. Fiat works much better for now atleast. Bitcoin is slow and is not the most instant payment method globally, thats just not true. Bitcoin is secure and somewhat adopted, thats the only advantages it has. Once it loses the security advantage, and other coins gain that advantage, which is bound to happen. Bitcoin will have no compelling usecase at all.

A future proof cryptocurrency needs to be fast, secure, have an option for privacy and have a wide variety of usecases. A crypto will eventually have all these within a few years. Bitcoin will have none of those, NONE.

The reason bitcoin is doing somewhat well is because sleazy scumbags market it to idiots who don´t know any better. They market it 24/7, resentlessy. I have been around for some time, and this is the case, bitcoin holders are giving out false inforamtion and selling other people dreams, in hope that they can enrich themselves. Absolutely digusting behavior that needs to be called out.

I could write a 100 pages long book on why bitcoin won´t succees, but anyone with a high iq and common sense should know why it is doomed to fail. And it only takes a few sentences to communicate why it´s crap.

[propreffered7]

Still waiting for Gesten and the coincel crew to come ITT and acknowledge that their retarded investment is proving to be less sound than the Beanie Babies my mom bought in the mid-nineties.

Have a feeling they are all "AFK" though.

I no longer have any at all. Havent followed it for years

But you know bitcoin is produced via "work" from the computer? There are two concepts used in "proof of work" and "proof of stake" commonly used. If i remember right the size of the block ($$) can discern how quickly a miner gets the block for you. So, to me its "not backed by nothing" but is more centralized because it's still gonna favor those who have more money to buy more

Further. I think i.d. established is a little more history or identifiable, but the blockchain is actually way more identifiable than cash. Every transaction is stored on the blockchain. In theory, its supposed to establish higher trust so you could look up a sellers history (or whoevers wallet youre transferring to)

[dopamine72]

A decade is very short time in the grand scheme of things. Compare that to millions of years of gold. If bitcoin survives the next hundred years, I might reconsider my potition, but it won´t.

Very few people actually use bitcoin to buy things with though. It´s never gonna become an adopted usecase, because it´s not suited for that. It´s suited for speculation and hoarding, which are both bad for a currency. And speculation and hoarding of a deflionary asset with a supply cap will lead to a disaster. No regular normie has any reason to buy bitcoin if he doesn´t speculate. Fiat works much better for now atleast. Bitcoin is slow and is not the most instant payment method globally, thats just not true. Bitcoin is secure and somewhat adopted, thats the only advantages it has. Once it loses the security advantage, and other coins gain that advantage, which is bound to happen. Bitcoin will have no compelling usecase at all.

A future proof cryptocurrency needs to be fast, secure, have an option for privacy and have a wide variety of usecases. A crypto will eventually have all these within a few years. Bitcoin will have none of those, NONE.

The reason bitcoin is doing somewhat well is because sleazy scumbags market it to idiots who don´t know any better. They market it 24/7, resentlessy. I have been around for some time, and this is the case, bitcoin holders are giving out false inforamtion and selling other people dreams, in hope that they can enrich themselves. Absolutely digusting behavior that needs to be called out.

I could write a 100 pages long book on why bitcoin won´t succees, but anyone with a high iq and common sense should know why it is doomed to fail. And it only takes a few sentences to communicate why it´s crap.

BTC is not secure like people originally thought, I see and agree with some of your points but IMHO you're on the extreme side of things especially given the history and current news. If we're talking 100 years then obviously that's not as extreme lol. I speculate because the government knows it can be traced they will want it to be used to avoid the issue of people using other untraceable cryptos. This may be why large cap companies are starting to use it. Plus it will be better for the entire central banking system this way. Because untraceable crypto can wreak havoc on our monetary system.

You never mentioned PayPal implementing this onto their platform, nor coinbase working with VISA on a crypto credit card. I believe starbucks and a few other companies have been accepting it as a payment method too (a while ago). Point is I think this trend will continue and more businesses will start accepting BTC as payments which will cause it to grow. The US dollar is also losing its value.

No real point in bickering though, there are plenty of solid points on both sides of this debate, I think you could agree with that at least? Thanks for posting all that info.