Roger Ver arrested in Spain. Should be expedited to the US.
BTC crash. A lot of times BTC is ahead of the stock market meaning Powell is giving us bad news or neutral news today and stocks get beat up. My hope is that it's just a head fake. We get good news and everything pumps.
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I dunno, man. There's traitors on both sides of the aisle. But yeah, the worst are the Dems.
The constitution is being stomped on. Banks, corporations and big tech buy out the politicians who all seem to be "for sale". The governor of Texas - where I'm at - just lost a lot of backers with recent actions. Never thought I'd see that. You think they are one thing and then they do something the total opposite.
The court cases in crypto could drag out for months/years. The justice system is compromised, too. Gotta hope there's still some left with good ol' American free market fairness.
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Coinbase and Uniswap recently endorsed Consensys (from the CryptoCompare newsletter):
Crypto Titans Coinbase and Uniswap Rally Behind Consensys in SEC Lawsuit
Cryptocurrency industry giants are uniting behind Consensys, the company behind the popular MetaMask wallet, after its surprise lawsuit against the U.S. Securities and Exchange Commission (SEC).
Consensys accused the SEC of attempting to “seize control over the future of cryptocurrency” and of an “unlawful seizure of authority” over Ethereum, attempting to regulate it as a security.
On social media Hayden Adams, the founder and CEO of leading decentralized exchange Uniswap, thanked Consensys for “fighting back and defending our industry.” The decentralized exchange, it’s worth noting, received earlier this month a Wells notice from the SEC.
A Wells notice is used by the regulator to inform entities of possible enforcement action. After receiving a Wells notice, companies have a chance to write back to the SEC and explain why they should not move forward with a lawsuit.
The SEC has a history of friction with the crypto sector, having filed lawsuits against major players including Binance, Kraken, and Coinbase. In its own lawsuit, Consensys revealed it also received a Wells notice after a lengthy SEC investigation into Ethereum, the network’s move to a Proof-of-Stake consensus algorithm, and MetaMask itself.
Consensys’ lawsuit contends that MetaMask is “simply an interface” that "neither holds customers' digital assets nor carries out any transaction functions," thus not functioning as a broker under federal securities law, while also seeking a ruling that Ethereum is not a security.
The lawsuit seeks a court ruling that Ethereum is not a security, effectively invalidating the SEC's claims. This strategy mirrors recent actions by Coinbase, which is currently embroiled in its own legal battle with the SEC over unregistered securities sales.
In the wake of Consensys’ move Paul Grewal, Coinbase's chief legal officer, said on social media that it’s “time for the SEC to admit that ETH is still a commodity and thanked Consensys “for standing up against the SEC's unlawful expansion of authority."
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They (SEC) keep pointing the finger at crypto saying "you're the bad guy" when it's really them that are the bad guys....Leave a comment:
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I'm not posting an opinion on the parties other than their crypto-currency stance. Neither party is in 100% agreement but it's much better for crypto for a Republican sweep.
https://cei.org/opeds_articles/biden...mining-survey/Ever since President Biden took office, his administration has waged a whole-of-government war against cryptocurrency. The Securities and Exchange Commission attempted to shut down digital assets and exchanges for registration violations in a move that may exceed the SEC’s authority, even while the crypto entities in question have been widely utilized with no fraud alleged. Treasury Department officials helped write language inserted into the Bipartisan Infrastructure Law that defines cryptocurrency “brokerages” so broadly it may apply tax reporting mandates to individual crypto miners. And in his last two proposed presidential budgets, Biden included the Digital Asset Mining Energy (DAME) tax, which would impose a 30 percent levy on the cost of electricity used in crypto mining, supposedly to curb emissions.
Yet despite these destructive efforts, the price of Bitcoin and other cryptocurrencies has soared this year. Hence, the new initiative to target the industry.Leave a comment:
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https://www.dlnews.com/articles/regu...goat-gop-says/Republican lawmakers said on Tuesday that the Biden administration is making the crypto industry a “scapegoat” for illicit financing.Since the October 7 attacks by militant group Hamas on Israel, anxieties have sharpened among lawmakers on both sides of the aisle that cryptocurrencies are being used to fund America’s enemies.
The crypto industry and its — often Republican — supporters in Congress counter that any financing militant groups or rogue nations get in crypto is dwarfed by the amount of funding they get from more traditional avenues, like cash.
That argument was repeated on Tuesday during a Senate Banking Committee hearing, which was held to discuss whether Congress should pass laws to widen the powers of the Treasury Department to target crypto industry players.
Republican lawmakers argued that the Biden administration is allowing Iran to sell its oil to China and to access billions of dollars via sanctions waivers — far more of an issue than crypto financing.
“Having a conversation simply and exclusively about digital assets misses the elephant in the room that every single time we make it easier for the Iranian regime to receive resources from the United States in cash — pallets of cash — or through electricity waivers … we put more and more of our allies in harm’s way,” Senator Tim Scott of South Carolina, the committee’s top Republican, said.
For Congress to be talking about digital asset financing rather than about the far larger problem of illicit financing more generally “makes it into a scapegoat,” Scott added.
Scott was reacting to testimony from Treasury deputy secretary Wally Adeyemo, who asked the committee for more authority and sanctions tools to target crypto firms, both in the US and abroad.Leave a comment:
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Long tweet from "Peruvian Bull" (edited):
"...............................
Attacks on Bitcoin have escalated, first with Feds arresting the developers of Samourai Wallet. Next Phoenix Wallet pulls their app from Appstore, and now DTCC is assigning 100% haircut to all crypto assets.
They're coming for the non-KYC wallets first. Then the nodes. Then self-custody.
Your privacy is at stake. Your future is at stake.
The truth is, they depend on us to keep the whole charade going. We man the barricades of the dying fiat monetary system. Without us working for their money, they have nothing to control us with.
"Look, the people you are after are the people you depend on. We cook your meals, we haul your trash, we connect your calls, we drive your ambulances. We guard you while you sleep. Do not... (penetrate) with us." -Tyler DurdenLeave a comment:
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Here's more info on that (from the CyptoCompare newsletter):
Consensys Sues SEC Over Ethereum Classification
"Ethereum software developer Consensys has sued the U.S. Securities and Exchange Commission (SEC), fighting against what the firm called an “unlawful seizure of authority” over ETH.
The lawsuit, filed in the United States District Court for the Northern District of Texas, seeks a definitive ruling on whether ETH is a security and aims to prevent the SEC from taking enforcement action against Consensys' MetaMask wallet’s Swaps or Staking functions, wanting a federal court to deem its staking service does not violate securities laws.
Consensys contends that MetaMask is “simply an interface” that "neither holds customers' digital assets nor carries out any transaction functions," thus not functioning as a broker under federal securities law.
The lawsuit further claims that the regulator’s stance contradicts its own past statements, citing former SEC Director Bill Hinman's 2018 speech classifying Ethereum as a commodity. Additionally, Consensys argues that the SEC is encroaching on the territory of the Commodities Futures Trading Commission (CFTC), which oversees derivatives tied to Ether.
Consensys argues it “built its business against the backdrop of this regulatory consensus,” and said the SEC’s actions “violate the Constitutional requirement of fair notice under the Due Process Clause.”
It adds that the “SEC’s unlawful seizure of authority over ETH would spell disaster for the Ethereum network, and for Consensys,” before leaning on the “major questions doctrine,” a Supreme Court ruling barring federal regulators from dramatically exceeding the scope of their mandates."
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I'm hearing rumors of SEC lawyers getting out, i.e. quitting. Who knows, perhaps they have a shred of ethics or maybe they are tired of trying to make bogus charges stick.
The war on crypto is ramping up....Leave a comment:
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SEC sent out a Wells Notice to Consensys (Metamask) meaning they were getting ready to sue Metamask. Metamask beat them to it and filed a lawsuit against the SEC. Metamask wants the court to rule that ETH is a non-security. This will be an important decision since the US is trying to ban all exchanges not requiring KYC. They may start going after every DEX.Leave a comment:
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$1.3b USDC transferred to Coinbase. We could be in for a huge weekend.Leave a comment:
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think rollbit finally got me raiders. Took jays for 5.5k in the 5th at +200 and they called the game after rain delay marked me down as a loss but there rules clearly state interupted games not continuing same day are voided.
nevermind refunded
and now rhey went ahead and graded it a loss again. penetrate sakes site is garbage.Leave a comment:
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Oh, I get it. They want centralization just like the corrupt system they represent and come from. It's going to be a little harder to do with crypto, IMO- besides people that are in it for the money, there's a huge portion that's in it for the self sovereignty and freedom from the legacy system. Decentralized/no KYC exchanges, privacy coins, hardware wallets- it's going to be hard to outlaw/regulate all of that..
Part of the problem is those who just give in and bend the knee....Leave a comment:
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Sorry to sound so pessimistic, but you wish.Lark Davis covered some of this in one his latest videos. Someone mentioned in the comments this may be only for the ultra rich but if it passes, you can bet it will trickle down to the little guy eventually.
As it stands now, if I'm reading it correctly, 15% is the going rate for long term capital gains. This is good for up to $518K. That's not too terribly bad (if you're going to play their game). I'm going to check with my CPA but I believe this is accurate.
As for the Samurai guys, man, they are just software devs. Coders. Someone needs to take a stand against the out-of-control DOJ and what they are doing to crypto. The USA gets more tryannical by the day....
Blackrock is talking like they want to get a little more involved in crypto and Fink is pushing for a crypto system with digital ID.... Uh, no. They can join the party but they don't get to make the rules...
Fink gets to choose the technologies/the blockchains with most upside, like Bitcoin and Ethereum, and create products based on them, as they please. If they want an ETF approved, they'll pay the lobbyists and get it done. They have the resources to do what's in the best interest of their investors.
If you disagree, Dubai will certainly be happy to grant you a passport. But thinking that Blackrock doesn't get to make the rules, to me, is just delusional.Leave a comment:
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Lark Davis covered some of this in one his latest videos. Someone mentioned in the comments this may be only for the ultra rich but if it passes, you can bet it will trickle down to the little guy eventually.
As it stands now, if I'm reading it correctly, 15% is the going rate for long term capital gains. This is good for up to $518K. That's not too terribly bad (if you're going to play their game). I'm going to check with my CPA but I believe this is accurate.
As for the Samurai guys, man, they are just software devs. Coders. Someone needs to take a stand against the out-of-control DOJ and what they are doing to crypto. The USA gets more tryannical by the day....
Blackrock is talking like they want to get a little more involved in crypto and Fink is pushing for a crypto system with digital ID.... Uh, no. They can join the party but they don't get to make the rules...Leave a comment:
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Samouria Wallet, a bitcoin mixer, founders arrested. Biden wants an unrealized capital gains tax of 25% and a 45% capital gains tax. Taxing unrealized gains forces you to sell to pay your taxes. A lot of crypto people from the US will move to Dubai or Puerto Rico. I'll move if unrealized is passed. IRS is now using AI to look into our bank accounts without a warrant.
All that said, I agree with homie in that the only thing that will stop this run is WWIII. The rest are hiccups.Leave a comment:
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provided no reply from Iran on the Isfahan attack then we should find a BTC floor at ~$65K and then it is up to Big Tech earnings starting this week to get us a a leg up from here or perhaps the other way
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