If YOU would like to be on a CRYPTO PING LIST, please pm me.
The Crypto Ping List covers the following:
Bitcoin
Ethereum
Other coins built on the Ethereum blockchain mining
etc.
Thanks! For it - or ag'in it, it'll be a wild ride.
Posted on 03/08/2022 5:59:42 PM PST by delta7
He is going to enforce KYC customer rules and anti money laundering. It’s useless, but it will make them feel good.
And Martin Armstrong isn’t exactly the person to take advice about anything more modern than moveable type.
>>cryptocurrencies may end up being suspended
I hope they try. It will just harden the security of the legit cryptoassets and make them more decentralized, permissionless, and uncensorable.
Too many rich people involved in crypto for the government to destroy it now.
If YOU would like to be on a CRYPTO PING LIST, please pm me.
The Crypto Ping List covers the following:
Bitcoin
Ethereum
Other coins built on the Ethereum blockchain mining
etc.
Thanks! For it - or ag'in it, it'll be a wild ride.
“The Russians have replaced the Jews of Germany. “
Good comparison. We all remember the Jewish armies marching on Berlin killing innocent Germans.
There is no way Biden will be able to regulate cryptocurrencies and in effect create a FedGov cryptocurrency exchange.
China has tried and failed. So will the US.
This is the complete and utter beauty of cryptocurrencies; they’re untouchable by governments.
The Canadian action should have taught everyone that Crypto isn’t safe from the govenrnment.
Peeing into the wind. Cryptos are rules based and not based on the whims of a corrupt govt or big banks. This goes for NFTs also.
Russia use crypto then bam someone will hijack every cent they own.
There is no way Biden will be able to regulate cryptocurrencies and in effect create a FedGov cryptocurrency exchange.
————-
Huh, Where have you been? Fedcoin, US Sovereign crypto, SB 3571, it is now moved to closed door committee….Yellen and Powell are pursuing it.
Much written on this, search.
Good comparison. We all remember the Jewish armies marching on Berlin killing innocent Germans.
Yeah, it's amazing some of the garbage people will write. The Russians are a lot closer to filling the role of the Germans than the Jews.
China has tried and failed.
————
Old news:
“ In a bombshell move that sent the value of bitcoin tanking Friday, China outlawed all cryptocurrency transactions and issued a national ban on crypto mining, the energy-intensive process of creating new bitcoins. China’s crackdown is fueled by concerns that crypto attracts money laundering and fraud, and that crypto mining uses up so much power it will dent the nation’s efforts to cut greenhouse-gas emissions. China has the most crypto miners in the world, but few speculators given its increasingly strict regulations. In early trading Friday, bitcoin’s value dropped more than 7 percent on the news.…..
https://www.thedailybeast.com/china-outlaws-all-cryptocurrency-transactions-and-bitcoin-mining
Nope
They’ll be around awhile.
How to value them, is the interesting part.
My initial feeling on them was negative, yet I didn’t have a reason to have a prejudice against cryptos.
Since I believe in a non ideological & non prejudicial investing strategy. I took a deep breath, cleared my mind, & rethought my position.
Now I’m intrigued by them and enjoy reading Freepers with a working knowledge of them.
Jail time.
Under new legal interpretation from China’s Supreme People’s Court, raising funds using cryptocurrency is deemed as an illegal activity in the country, according to South China Morning Post.
The new ban adds to tightening regulations targeting financial scams in the country which became infamous for its crackdown on cryptocurrencies over the years.
Jail sentence penalties
Repercussions for crypto fundraising are contingent on the value of the amount raised, according to the interpretation by the Supreme People’s Court published on Thursday.
The amendment which comes into force from March 1, states that Chinese courts can now officially issue jail sentences to offenders–ranging from below three years to over ten years in prison.
The court categorized fundraising that tops 100,000 yuan ($15,800) as a “large amount”.
If fundraising involves an “extremely huge” sum of 50 million yuan, a loss of at least 25 million yuan, or includes 5,000 people, which is categorized as “extremely serious”–one could end up behind bars for over a decade.
The fresh legal interpretation is aimed at “punishing illegal fundraising crimes in accordance with the law and maintaining national financial security and stability,” and falls in line with Beijing’s aggressive efforts to root out crypto in the country–packing it under the umbrella of financial scams and money laundering.
The amendment doesn’t come as a shock
Last September, China’s central bank, the People’s Bank of China (PBoC), published a memo criminalizing practically all cryptocurrency activity–from crypto transactions to mining.
Although Beijing’s crackdown on crypto started years ago, last year’s bans on crypto mining in China, which started rolling out in the summer, saw Bitcoin suffer its biggest mining difficulty drop of almost 28% in July, as miners started migrating their operations out of the country.
The mining ban saw the Bitcoin hash rate drop by nearly 50%, however, the computing power that’s securing the network recovered in the following months.
One crypto to rule them all? I mean cryptos are fungible highly volatile non centralized assets that represent solutions to logic problems it takes cpu to “mine”. They are nothing like fiat currencies. Not sure what having a central bank try to control the price of them or have governments control them would look like...
They tried their best to sneak in Saule Omarova, but even with that failure, they are going to go forward with her plans.
You know what ends crypto? An EMP.
Biden and others want to destroy alternatives that they don’t control and use Russia Russia Russia as a pretext for doing so.
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