A lot of money has been flowing into markets and the fed has been borrowing a lot for sure and I think this could be devastating once it all collapses. What the fed wants is stability and with what they are doing, I don't think it can hold up to what they want. I hope no one gets so lost with their life savings here and be smart and use crypto. Let's see what happens in the coming months.
The Federal Reserve is not the entity that borrows. It’s the entity that BRRR-prints money into existence. It’s the U.S. Government that borrows, through the treasury. They issue debt which is bought by the Federal Reserve with money issued straight from the printer. |
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Why not buy Bitcoin directly to any KYC exchange and use a mixer instead?
That would not be anonymous anymore if you will use an exchange and you comply with the KYC unless you will fake your information with some fake ID just to pass the basic requirement of an exchange. My understanding of KYC is that no matter how they will trace the address, they can't find any trace to link to a person's identity. Those UTXOs will be anonymous, but the problem is, if you want to deposit back to exchanges or to services that monitors the mixers, they would know that your UTXOs went through a mixer. I believe there should be another layer added on top of the mixer. |
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It doesn’t change anything. Hahaha. Because some country wants to ban mining, suddenly Bitcoin mining is wasteful? What happened to Sybil Protection Mechanism? What happened to Byzantine Fault Tolerance? Isn’t issuance of the currency from the protocol itself important anymore?
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I don’t think the legal debate between Craig Wright will have any effect on BTC price. After all with all the evidence presented, most people know he is not the real Satoshi. I think people are thinking that it’s wise to buy his BSV coin because he will dump all 1.1M BTC on the Bitcoin network which would cause the price to crash.
A bigger issue is the Mt Gox distribution which will happen in 2022 sometime. This might have an effect on price because most likely some people will take profits and sell. At least some of their coins and when the time line is released, many will sell their coins well in advance because they think price will crash.
What Craig Wright, and the Bcash SV holders might actually want to happen is for Bcash SV to surge high in market value. Then because “he is Satoshi”, he can order a Bcash SV hard fork to take all pre-2012 dormant coins under his control. |
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KYC is not a bad thing. If you don't want to use services that require it then you don't.
Depending on where you live there are plenty that do not require it.
There are exchanges for other coins, ways of getting cash, gift cards and just about anything else that do not require your info.
IF on the other hand you want a regulated environment with more rules and security, then yes you are going to wind up with KYC.
I can go to localcryptos.com and get cash for my BTC, and hope everything goes smoothly (it usually does) OR I can go to Gemini give up my personal info and know that it will go smoothly.
The choice is up to you.
-Dave
I too believe KYC is not a bad thing, until it can be used against you. But I don’t mind KYC if we can use an app to reset, then increase Bitcoin’s anon-set, as a KYC preventive mechanism. If only we can use an off-chain network to do that. |
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OP, no, Bitcoin can’t fix tyranny, or stop a tyrannical group of people, BUT as a censorship-resistant, permissionless, open protocol for hard money, we a tool to use to go around against tyrannical behavior. Pretend all credit cards, payment processors, and banks worked together in a “tyrannical plot” to stop payments for your favorite porn website. Bitcoin fixes this.
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Mr. President’s tweet, saying that he missed the DIP by 7 minutes,  Gold Bug’s tweet, saying that Mr. President is wasting tax-payer’s money, then read the Gold Bug’s son’s reply,  ,  Gold Bug = 0, Gold Bug’s son = 1 |
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I believe anti-ethical is the wrong term. Centralized services are merely protecting their business. But if KYC, if possible, was coded in the protocol itself, and the developers claim "freedom", "hard money", "anti-censorship", then yes that would be anti-ethical.
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sgbett, like kwukduck, might be another buy signal. Both of them FUD that the bull market has ended whenever there's a "normal 30% correction" for Bitcoin.
The surge will return, ser. Prepare for more revisions. "Science".
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Should the community encourage each other to use the Lightning network as a "mixer" to increase Bitcoin's anon-set? I believe the more Lightning scales/grows, the more liquidity in channels, then more cheaper transactions, THEN a larger anon-set.
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OP, No. The debt ceiling will be raised, the BRRRR-money-printer will be used. The Federal Reserve will not do what Paul Volcker did during the 1970’s because in 2020’s, the U.S. is under different circumstances. I will post a topic about it soon, it’s a long explanation.
That was one of my first thoughts, though it does make me wonder why a pronouncement like this would even be made if the US wasn't in trouble and could count on an easy solution like printing more money--which is part of what got us into this situation in the first place. It's currently a complicated situation. It's because currently, simply raising rates would risk the U.S. government to default. In the yearly national budget, 10% of that is paid as interest to the Federal Reserve. That's at current interest rates. Increase interest rates to 3%, it would surge to more than 60% of the national budget. In context, to fix inflation Volcker raised interest rates up to 20% during the 1970s. |
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Or it's also probably Craig Wright and his social-engineering attacks against Bitcoin, the community. Where does he get his money to fund all those lawsuits? Follow his paper-trail. If it's a web of confusion, then he's hiding something. Tin-foil hats on. |
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Would anyone care to take a guess as to which recent cryptocurrency projects the CIA might be involved with.
I don’t know, but someone in Twitter said that, “If gun pointed to my head, and forced to say which Bitcoin organization/project/company the CIA is involved in, I would say Blocksteam”. He didn’t give a reason. |
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OP, No. The debt ceiling will be raised, the BRRRR-money-printer will be used. The Federal Reserve will not do what Paul Volcker did during the 1970’s because in 2020’s, the U.S. is under different circumstances. I will post a topic about it soon, it’s a long explanation.
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If I wanted to accumulate some BTC anonymously and just hold it
would this work?
Buy XMR on a KYC exchange.
Withdraw it to a Monero wallet connected by TOR or VPN
Transfer to a second Monero wallet connected by TOR or VPN
Send XMR to a non KYC exchange and buy BTC
Withdraw to BTC wallet connected by TOR
Any corrections, suggestions, or better ideas?
For anonymity, BISQ is a good alternative, but there are other centralized alternatives you can use that accept Monero. Less slippage than BISQ, but fees might be higher than KYC-exchanges. An example, https://stealthex.io/An idea posted by cAPSLOCK in how to do it without buying Monero, by utilizing the Lightning Network, https://bitcointalk.org/index.php?topic=5348270.msg58572502#msg58572502 |
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You can't really blame inflation for that. When you think one thing is caused by that you should look at others to see if they match, let's check a country which experiened deflation, Japan:  Then something else must also be happening, DJI is 19,86 % while NDAQ is 60%, so the growth is triggered clearly by some industries, and not all of them. OP, that IS a very clear sign of high inflation. All that extra money going to stocks, commodities, real estate, AND cryptocurrencies. But it will come down crashing soon, and prepare for the next cycle, OR hyperinflation. Hyperinflation in the US? I don't understand why you're happy about this, trust me even if your coins will be worth 1 billion and you could buy everything you wanted you wouldn't want to live in such a period. Unless you enjoy seeing people suffering. I didn’t notice stompix’s post. Happy about this? No, why would I be happy? Plus it isn’t a jeer on the people, it’s a jeer on the Federal Reserve, and government as the lying becomes more shameless. They are treating plebs like shit, manipulated, gaslighted and brainwashed. The majority believe their lies, believe it or not. |
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No, I’m wrong 90% of the time, that’s why I HODL. Ok. I will concede the point.. You are in a better position to know about the amount that you are wrong.. Must suck to be wrong so much. No, for me it’s OK because I’m a mere pleb, and I’m not trying to be an influencer. Plus the remaining 10% is the most important, and what truly matters. In an investment standpoint, it was a deciding-factor if I HODL, or broke. Most of my savings went to Bitcoin during 2019. |
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No, I’m wrong 90% of the time, that’s why I HODL. If I was trading actively, I would either be, stressed and out of savings, or depressed and out of savings. I’m not a whale like you. There were also some retirees I’ve met in small meet ups who have their monthly pensions to fund their Bitcoin buying spree. |
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That's true that inflation is caused by the wrong economic policy. But such factors as lack of supply accelerate inflation so all factors influence on it. So as not to suffer from inflation too much, we need to invest but not jsut save. What is more, it will give us an additional source of money, so we will become financial free a bit more then.
I have dislike savings ever since my eyes was opened into financial world, savings is just like been a slavery to bank and other forms of banks. Inflation is just something we cannot control but can be reduce to minimal by making sure that the economy is well perfectly executed in every segment of economy but when one part is affected, it will affected others and inflation will rise especially agricultural sector and importation. Keep enough cash around for your needs and in the case of an emergency, however the rest of your money should always be invested in something that can outpace inflation, right now paper assets are still performing well, so it is fine to hold stocks and other similar instruments. However when a crisis really strikes paper assets have the tendency to do the worst as people are looking for a safe haven that can preserve the value of their money, and in that case assets like bitcoin or gold will be in high demand, and with this in mind then it is better to invest in bitcoin right now before its price goes up even more. On a very low enough time-preference, this is true. I hope newbies understood that. Because of Bitcoin’s infamous high volatility, there will be market cycles that you might be HODLing with a loss, depending when the person has purchased his/her coins. When in doubt, ZOOM OUT. |
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I have studied finance at university and I can say and inflation affects all financial assets. Especially the stock market. Only real estate(besides Bitcoin) can provide enough protection against inflation,which means that the real price growth minus the nominal price growth(caused by inflation) cannot become negative. Real estate assets cannot get devalued due to the inflation. Stocks can get devalued and government/treasury bonds can also get devalued by inflation.
It is pretty clear that the Federal Reserve money printing boosted the S&P 500 index a lot,during the last decades. Traditional financial markets are a giant bubble. Crypto markets are a giant bubble as well,thanks to the money printing made by the central banks.
Yes, but it’s not stocks that get devalued, it’s the currency. Increasing inflation is a effect of the money printer. It increases the money supply, and therefore increases demand, and increases the prices of stocks, real estate, used cars, almost everything. Then because of it, it creates bottlenecks on the supply side, causing inflation to increase further/faster. |
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