Bitcoin Price Tracking & Discussion -- 2024

https://twitter.com/peruvian_bull/st...20167141318860

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 Durden

Originally Posted by Arky

https://twitter.com/peruvian_bull/st...20167141318860

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 Durden

I don't care what people think of Trump or what political party that they support. The best think for crypto is to get a clean sweep for the Republican party the next US election.

Originally Posted by raiders72001

I don't care what people think of Trump or what political party that they support. The best think for crypto is to get a clean sweep for the Republican party the next US election.

the two high points for Crypto have happened under Biden though (Nov 2021 and March 2024)

Originally Posted by homie1975

the two high points for Crypto have happened under Biden though (Nov 2021 and March 2024)

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.

https://www.dlnews.com/articles/regu...goat-gop-says/

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.

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.

https://cei.org/opeds_articles/biden...mining-survey/

Originally Posted by raiders72001

I don't care what people think of Trump or what political party that they support. The best think for crypto is to get a clean sweep for the Republican party the next US election.

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....

Originally Posted by Arky

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.

----------------------------------------------

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....

Good to see Coinbase jump in the mix. What's crazy is that the SEC is coming after code as being a money transmitter. This would mean they could go after Github for open source code. Not that this will happen but that's how crazy a change in law would make it.

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.

Re: Roger Ver: dang, just goes to show, you can renounce your US citizenship, move to Spain and still they come after you for stuff that happened 7-10 years ago.

https://www.justice.gov/opa/pr/early...rged-tax-fraud

"The indictment further alleges that by June 2017, Ver’s two companies continued to own approximately 70,000 bitcoins. Around that time, Ver allegedly took possession of those bitcoins and in November 2017 sold tens of thousands of them on cryptocurrency exchanges for approximately $240 million in cash. Even though Ver was not then a U.S. citizen, he was still legally required to report to the IRS and pay tax on certain distributions such as dividends from MemoryDealers and Agilestar, which were U.S. corporations. Ver allegedly concealed from his accountant that he had received and sold MemoryDealers’ and Agilestar’s bitcoins that year. As a result, Ver’s 2017 individual income tax return did not report any gain or pay any tax related to the distribution of MemoryDealers’ and Agilestar’s bitcoins to him."

Wondered why he's been quiet lately.....

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It's DCA time (again). I'm waiting on the bottom - when it turns upward, then it's buy time.

Solana at $120 looks good..... Maybe goes lower?

Originally Posted by Arky

Solana at $120 looks good..... Maybe goes lower?

Wait for the next outage (and hope it's a big one)?

Originally Posted by ARCHIVADO98

Wait for the next outage (and hope it's a big one)?

Eheh, I think Solana network has been fixed. Got a little sluggish for a while there.... had to keep Sending till it took....

Still waiting to see where this dip goes.... If no black swan event, then everything should eventually continue up over the next several months.

Originally Posted by Arky

Eheh, I think Solana network has been fixed. Got a little sluggish for a while there.... had to keep Sending till it took....

Still waiting to see where this dip goes.... If no black swan event, then everything should eventually continue up over the next several months.

There will be a parabolic run within 6 months.

Back over 60k this morning....currently at 60.6k

Originally Posted by JAKEPEAVY21

Back over 60k this morning....currently at 60.6k

Still climbing. Hopefully people are buying back after the dip. GLGLGL all.