Cryptocurrency

[Mercer]

Taking crypto gains, and rolling them into more gains by paying off politicians, getting headlines, driving the price up even further. Pretty sure Trump will be the last anti-crypto President. It's to the point now where it would cause major havoc on the economy and old ladies Roth IRA's if they made crypto illegal.

[KILZ FILLZ]

https://www.cnn.com/2020/11/12/economy/economy-after-covid-powell/index.html
 

"We're recovering, but to a different economy," Powell said during a virtual panel discussion at the European Central Bank's Forum on Central Banking.

[ndv]

1 hour ago, KILZ FILLZ said:

https://www.cnn.com/2020/11/12/economy/economy-after-covid-powell/index.html
 

"We're recovering, but to a different economy," Powell said during a virtual panel discussion at the European Central Bank's Forum on Central Banking.

So while the global economy is still struggling all while adjusting to the new norms the virus has created a growing number of poverty it will be on the advances in specific industries to carry the weight (burden) of the added poverty (new welfare).  

I see Powell's point, but considering what I just said in response to what I read, then these industries better become stronger (gain more value) than ever before to support the ever growing inequality.   Personally, I think there's a lot of potential in the economy as a whole that this virus has tapped into but are still in infancy or not on a bar napkin just yet. 

 

[Dirty_habiT]

On 11/11/2020 at 7:40 AM, Mercer said:

Taking crypto gains, and rolling them into more gains by paying off politicians, getting headlines, driving the price up even further. Pretty sure Trump will be the last anti-crypto President. It's to the point now where it would cause major havoc on the economy and old ladies Roth IRA's if they made crypto illegal.

 

Making crypto illegal would require making firewalls in the USA like what Chinafornia has to block access from the blockchain network.

 

Currently nothing like this exists.  The internet is the "wild west" as a result of attacks.  This would be a practice in attempting to legislate morality.

[Mercer]

46 minutes ago, Dirty_habiT said:

 

Making crypto illegal would require making firewalls in the USA like what Chinafornia has to block access from the blockchain network.

 

Fundamentals are unstoppable without shutting down/unplugging the internet itself. People run full nodes on TOR itself and the protocol itself is based on cryptography. Technologically the protocol is designed to be immutable. The real problem is SEC enforcement actions on major crypto exchanges, and other "above ground" mainstream brick and mortar businesses, trying to squeeze the bridge between fiat currency and crypto shut.  In this case, the government can do anything it wants to, making it difficult to even use, and effecting the price.

 

There are several politicians smart enough to know how dangerous this genie is and have wanted to shut it down. Problem is, Agorism is the foundational philosophy that created, and made Cryptocurrency what it is. A tool to end state interference and provide economic freedom for individuals. Even if the dooms day happens and the government shuts down all exchanges, and launches some sort of drug war style enforcement action on crypto, it's already too ingrained in the black, and grey markets in the U.S. for sex work, drugs, tax evasion, and other grey market activity. Western Union losing business now for international transactions. 

 

46 minutes ago, Dirty_habiT said:

Currently nothing like this exists.  The internet is the "wild west" as a result of attacks.  This would be a practice in attempting to legislate morality.

 

Always will be free because of cryptology.

 

This is the crypto Anarchist manifesto, written by Satoshi Nakimoto's predecessors before we had cryptocurrency, or really the internet for that matter, these are the guys that plotted the path  that I, and many others are on now.

 

Quote

The Crypto Anarchist Manifesto

 

Timothy C. May

 

1988

 

A specter is haunting the modern world, the specter of crypto anarchy.

 

Computer technology is on the verge of providing the ability for individuals and groups to communicate and interact with each other in a totally anonymous manner. Two persons may exchange messages, conduct business, and negotiate electronic contracts without ever knowing the True Name, or legal identity, of the other. Interactions over networks will be untraceable, via extensive re- routing of encrypted packets and tamper-proof boxes which implement cryptographic protocols with nearly perfect assurance against any tampering. Reputations will be of central importance, far more important in dealings than even the credit ratings of today. These developments will alter completely the nature of government regulation, the ability to tax and control economic interactions, the ability to keep information secret, and will even alter the nature of trust and reputation.

 

The technology for this revolution--and it surely will be both a social and economic revolution--has existed in theory for the past decade. The methods are based upon public-key encryption, zero-knowledge interactive proof systems, and various software protocols for interaction, authentication, and verification. The focus has until now been on academic conferences in Europe and the U.S., conferences monitored closely by the National Security Agency. But only recently have computer networks and personal computers attained sufficient speed to make the ideas practically realizable. And the next ten years will bring enough additional speed to make the ideas economically feasible and essentially unstoppable. High-speed networks, ISDN, tamper-proof boxes, smart cards, satellites, Ku-band transmitters, multi-MIPS personal computers, and encryption chips now under development will be some of the enabling technologies.

 

The State will of course try to slow or halt the spread of this technology, citing national security concerns, use of the technology by drug dealers and tax evaders, and fears of societal disintegration. Many of these concerns will be valid; crypto anarchy will allow national secrets to be trade freely and will allow illicit and stolen materials to be traded. An anonymous computerized market will even make possible abhorrent markets for assassinations and extortion. Various criminal and foreign elements will be active users of CryptoNet. But this will not halt the spread of crypto anarchy.

 

Just as the technology of printing altered and reduced the power of medieval guilds and the social power structure, so too will cryptologic methods fundamentally alter the nature of corporations and of government interference in economic transactions. Combined with emerging information markets, crypto anarchy will create a liquid market for any and all material which can be put into words and pictures. And just as a seemingly minor invention like barbed wire made possible the fencing-off of vast ranches and farms, thus altering forever the concepts of land and property rights in the frontier West, so too will the seemingly minor discovery out of an arcane branch of mathematics come to be the wire clippers which dismantle the barbed wire around intellectual property.

 

Arise, you have nothing to lose but your barbed wire fences!

 

[Mercer]

16 hours ago, ndv said:

So while the global economy is still struggling all while adjusting to the new norms the virus has created a growing number of poverty it will be on the advances in specific industries to carry the weight (burden) of the added poverty (new welfare).  

I see Powell's point, but considering what I just said in response to what I read, then these industries better become stronger (gain more value) than ever before to support the ever growing inequality.   Personally, I think there's a lot of potential in the economy as a whole that this virus has tapped into but are still in infancy or not on a bar napkin just yet. 

 

 

 

The Idea of punishing success, and rewarding failure in the name of equality, is incompatible with Crypto Anarchy.  Inequity has always been here, and always will be here, because everyone contributes unequally to society. Even in 100% communist societies there's always the inequity of the political class, vs the masses they parasitically micromanage into poverty.

 

By creating/printing more, and more new dollars the old ones are devalued and we get inflation. It doesn't matter how much money a government prints, it does not raise the living standards of their population, only the living standards of the politically connected who are the sole beneficiaries of state counterfeiting. That counterfeit come up is for the politically connected class only, and even though I'm exploiting it right now, it never intentionally trickles down to your average citizen.

 

J. Powell is protecting the elite by keeping their stocks, and other financial assets from a liquidity crisis, and tanking by spreading that cost out to anyone in possession of government shitcoins aka dollars, when in my opinion those companies that are not making a profit should tank so competition can take effect and clean up the inefficiency created by state backed monopolies.

[ndv]

58 minutes ago, Mercer said:

 

 

The Idea of punishing success, and rewarding failure in the name of equality, is incompatible with Crypto Anarchy.  Inequity has always been here, and always will be here, because everyone contributes unequally to society. Even in 100% communist societies there's always the inequity of the political class, vs the masses they parasitically micromanage into poverty.

 

By creating/printing more, and more new dollars the old ones are devalued and we get inflation. It doesn't matter how much money a government prints, it does not raise the living standards of their population, only the living standards of the politically connected who are the sole beneficiaries of state counterfeiting. That counterfeit come up is for the politically connected class only, and even though I'm exploiting it right now, it never intentionally trickles down to your average citizen.

 

J. Powell is protecting the elite by keeping their stocks, and other financial assets from a liquidity crisis, and tanking by spreading that cost out to anyone in possession of government shitcoins aka dollars, when in my opinion those companies that are not making a profit should tank so competition can take effect and clean up the inefficiency created by state backed monopolies.

 

Thank you for explaining it this way because I was wondering where the bs 🤔  is.  

 

Typical elitist fashion.  Always creating an illusion and believing its worth something.  I think those traits are called sociopath.

[Mercer]

10 hours ago, ndv said:

 

Thank you for explaining it this way because I was wondering where the bs 🤔  is.  

 

Typical elitist fashion.  Always creating an illusion and believing its worth something.  I think those traits are called sociopath.

 

Not a personal attack against you, but I think it's way more sociopathic to have a philosophy based on seizing other people's money for  the "crime" of earning more than you, then it is to have a philosophy based on minding your own business and keeping what you earned for your own family. I mean why do you care what I do with my money?

[KILZ FILLZ]

👀 

 

$18k

[Mercer]

 

[Mercer]

 

 

 

 

 

 

[NightmareOnElmStreet]

Thanks for sharing that @Mercer
 

Now with that said, for a guy still only using Coinbase and thinking about what you said a few weeks back about spending your crypto because why else, how do you feel about shit like this and what route would you recommend to easily spend if not this way. For me it boils down to having the smarts about the space which I still do not have. So shit like a fucking debit card is super easy for me to grasp. 

[Mercer]

@NightmareOnElmStreetThat's the wave of the future. This halvening I plan on spending most of my cashout via crypto to USD debit cards like that to avoid regulators.

[Mercer]

 

 

 

Ooooofff size XXXXL

[where]

Finally got that that xrp pump Ive been lookin forward to for a fucking minute. What now btc to 26 then ?!? crash loading, defi is gonna be yuge if it there’s no new regulation. could see some coins like yfi or uni or fuck even sushi get some news coverage and see a ton of movement but with the bad press from the harvest idk we’ll see. Btc maximalists definitely don’t want to lose any market cap to defi, but there isn’t a damn thing they can do about it.

 

bought some gift cards with crypto a couple years ago after hodling for a while, it was pretty reasonable. Cool story.

[NightmareOnElmStreet]

14 hours ago, where said:

Finally got that that xrp pump Ive been lookin forward to for a fucking minute. What now btc to 26 then ?!? crash loading, defi is gonna be yuge if it there’s no new regulation. could see some coins like yfi or uni or fuck even sushi get some news coverage and see a ton of movement but with the bad press from the harvest idk we’ll see. Btc maximalists definitely don’t want to lose any market cap to defi, but there isn’t a damn thing they can do about it.

 

bought some gift cards with crypto a couple years ago after hodling for a while, it was pretty reasonable. Cool story.

Foreign language. 

[where]

8 hours ago, NightmareOnElmStreet said:

Foreign language. 

www.google.com

[KILZ FILLZ]

https://www.reuters.com/article/us-cuba-remittances/in-blow-to-struggling-cubans-western-union-offices-close-as-sanctions-bite-idUSKBN2840CI?il=0

 

western union pulls out of cuba

 

Money transfers from the United States via Western Union were estimated at more than $1 billion last year, the majority of which was sent from Florida, according to John Kavulich, president of the U.S.-Cuba Trade and Economic Council.

[Mercer]

 

 

So, yesterday enough ETH was deposited into smart contracts to start the beacon chain on time for ETH 2.0.

 

For those that don't know, ETH 2.0 will have the capacity to flawlessly process every financial transaction on the planet when it's finished.

[NightmareOnElmStreet]

Had to google wtf is going on here. Came upon this and i am still blank. So you don't need to do anything because its some form of upgrade...But then you do at stage 1.5 whatever that means. God dammit this shit is so confusing. 

 

https://consensys.net/blog/blockchain-explained/what-is-ethereum-2/

[NightmareOnElmStreet]

Also, where should i be buying and storing the monero if i can't get it on coinbase? Do the wallets hold everything(stupid question)..?

[lord_casek]

8 minutes ago, NightmareOnElmStreet said:

Also, where should i be buying and storing the monero if i can't get it on coinbase? Do the wallets hold everything(stupid question)..?

I use Uphold. Partially because that's where I store my BAT coins and convert them over to cash or BTC. 


You guys need to buy up on Ethereum. Don't go too big, but make yourselves some money really quickly. 
BTC is projected to go up to $500k, but I'm not so sure about that. It's bound to go back up pretty far, but that far....

[NightmareOnElmStreet]

Weird. Coinbase is down. "but don't worry your funds are safe." Doesn't sound terrifying at all. I gotta get a wallet. 

[Mercer]

[where]

1 hour ago, Mercer said:

Just kids havin fun

[craig]

Anyone use Nexo?

 https://nexo.io/earn-crypto

 

They will pay minimum 5% interest on your currency you loan them.

I feel like there must be a catch somewhere but seems like a no brainer.

 

Edit: wow I reset my password and now it's changed my username and lost my post history. 

I'm not new here btw. Been lurking since 04.

Edited November 28, 2020 by craig

[lord_casek]

[Mercer]

1 hour ago, where said:

Just kids havin fun

 

 

[craig]

@MercerI realise how much my post looks like a spambot but it's a genuine question! 

[lord_casek]

14 minutes ago, craig said:

@MercerI realise how much my post looks like a spambot but it's a genuine question! 

It really did.