I speculate that this might end USDT and it might also end the bull market. the AG's response was truly scathing and tether obviously violated NY laws......but i still don't understand what exactly the state of NY can/will do about it. the original court order was to stop bitfinex from raiding tether's reserves and to compel documents pertinent to their investigation. so let's say they prove their case in court about lawbreaking in NY. what happens then? i've seen the feds take exchanges/brokers down before but never the state of NY.... I do not know how it might occur. However, I reckon with the cryptospace finding many ways to avoid regulations most of the time, the regulators might be very determined in taking down one big fish to make a statement. |
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Not before going down to $0.50, however. This prediction also based on what came out of my  hehe. Grin has a very long way to go before taking its place on the top 10. We only have this forum accepting it as payment hehehe. |
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Bitcoin and altcoins has made it easier because the market is liquid and cryptocoins are very easy to move, keep and store.
Easier at first glance maybe, but not really if you think about how you can be held responsible for certain transactions even a decade later with how transactions once confirmed are recorded in the ledger for ever. Now that you mentioned it, I'm actually wondering now if there could at least be some statute of limitations applicable for some things even for immutable records on a blockchain assumed to remain there in perpetuity. At least in the manner of financial compliance, records in most countries are kept only for a period of 7 years, and then can safely be destroyed, precisely because of these statutes. I'm sure of course if you used those funds for certain crimes, you wouldn't escape any pursuit of justice although you'd probably be okay from people trying to pin you down as criminal associates just because you received coins from or your coins were tainted by some unsavoury activity. This might be because many users had little understanding about bitcoin and blockchains before maybe 2016. They thought bitcoin was this anonymous and fast digital currency hehe. However, what would happen when criminals begin to use Monero. |
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@Carlton Banks. It reckon the regulators must be beginning to plan regulating Github uploads and downloads now hehehe.
However, it might push cryptocoin developers to use decentralized networks similar to IPFS or the darknet. They cannot win hehe.
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News update. It appears that Bitfinex might have broken some laws and regulations in the state of New York. The New York attorney general's office were given until July 8 to present a response after Bitfinex requested for a dismissal. They did and they appear very angry. I speculate that this might end USDT and it might also end the bull market. What the NYAG provided yesterday is comprehensive. Exhibits included in the latest filing appear to show that Bitfinex and Tether allowed New York investors—including the high profile Galaxy Digital CEO Mike Novogratz—to trade and redeem tethers until “early 2019,” when the investigation itself was well under way. (There was no immediate response from Galaxy Digital.) Tether and Bitfinex also allegedly opened accounts at several New York banks, housed most of their senior executives in the city, and engaged New York based accounting firms for audits.
Worse, the document alleges that the companies went to extraordinary lengths to accomodate their large New York investors, who apparently made up a considerable portion of the companies’ wealthiest customers. “In fact,” alleges the NYAG, Bitfinex and Tether assisted certain traders in “establishing foreign shell entities to become the nominal account holders—a work-around of Respondents’ purported ‘ban.’”
More damning is the allegation that the companies “loaned tethers to a New York trading firm.” As we reported last month, large “whales” can purchase high volumes of tethers directly, communicating their needs days in advance. Tether then creates these tethers, which it claims it only disperses once wire payments for each coin have come through. But if Tether indeed “loaned” tethers to investors, it suggests the enormous volumes of tethers that have attended almost every recent Bitcoin price surge represent not real dollars but debt—meaning tethers have, effectively, been minted out of thin air.Read in full https://decrypt.co/7795/investigators-tether-loaned-usdt-to-investors-illegally-traded-in-new-york-ran-an-unregistered-securities-offeringNYAG response documents https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=/_PLUS_iqIuzGOBBoAaaiknE4Ag==https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=5zXI_PLUS_H3eM0AalVVQRiqZag== |
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@freedomgo. Maybe next time you first try to read and get the idea of the argument before making a post. Also, comparing altcoin prices to something as volatile as bitcoin might not be the best way. Bullishness might be more practically measured by using something more stable. I don't look at the fiat value of ETH because that is not my basis in determining whether it's bullish or not.
However, if you check some of the top 100 altcoin's prices in fiat, they are also bullish.
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I reckon this might be a first for exchanges? In any case, how many people in the forum have already tried the Lightning Network? I reckon not that many yet.  Bitstamp, which is one of the oldest cryptocurrency exchange, recently announced that the institution had set up their own individual Lightning Network node for its customers.
Following the announcement, Bitstamp stated,
“We believe the Lightning Network has the potential to unlock a whole new level of utility for Bitcoin. We’ve set up our own LN node to help grow the network and encourage other companies to get on board.”Read in full https://ambcrypto.com/bitstamp-introduces-a-lightning-network-node-on-their-exchange/ |
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China found another reason to create their coin. However, how would a Chinese state run coin help to stop the devaluation of the Yuan? It would only help if the People's Bank of China were to prevent their citizens from using bitcoin and altcoins. Nothing will change. The users will always look for the right tools for their needs.  China’s central bank is developing a state-run cryptocurrency in response to Facebook’s Libra
China’s stance towards Bitcoin, and cryptocurrency in general, has been hostile—and understandably so. China tightened capital controls in the wake of a shock yuan devaluation in 2015 and has continued to implement measures to mitigate capital flight out of the country. Some of these measures include increased disclosure requirements for buying foreign currencies and tightened restrictions on corporate investments overseas.
Now, Facebook’s Libra with its base of 2.4 billion monthly active users, poses another threat to Chinese capital controls.
Considering Facebook is beholden to pressure from U.S. policymakers, it is in China’s interest to ensure Libra does not take hold in the country. Facebook’s services are already blocked in China and it’s unclear whether users outside of Facebook will have incentive to adopt Libra.
With approval from the State Council, the PBOC is working with market institutions to create a central bank cryptocurrency. A digital currency similar to Facebook’s could help China’s central bank maintain control over its economy.
Such an asset would pose few benefits for holders over the country’s already ubiquitous WeChat and Tencent digital payment options. Meanwhile, the black market trade of Bitcoin in China continues to thriveRead in full https://cryptoslate.com/chinas-central-bank-is-developing-a-state-run-cryptocurrency-in-response-to-facebooks-libra/ |
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Bitcoin and altcoins has made it easier because the market is liquid and cryptocoins are very easy to move, keep and store.
Easier at first glance maybe, but not really if you think about how you can be held responsible for certain transactions even a decade later with how transactions once confirmed are recorded in the ledger for ever. Firms involved in blockchain analysis are getting better at what they do with every day that goes by, their tools too. I would say that Bitcoin is probably the least favorable option based on that. By the time people are more educated about how Bitcoin works under the hood, they will refrain from using it to participate in the practice of money laundering and other illegal activities with severe penalties as punishment. I was referring to the ease of buying and selling because of high liquidity of the market. Alex Ginnick of BTCe has laundered billions of dollars. Also, agreed. It will be harder with KYC and blockchain analysis. However, this is also where anonymous cryptocoins and decentralized exchanges will find its place and find more liquidity. |
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Dustin Poirier might learn something from Jorge Masvidal's line of action versus a wrestler. Ben Askren's first reaction when he saw Jorge running was to shoot to secure the double leg. However, Jorge knew this and connected his knee to Ben's face. Also, there was a sex kitten.  Claudia Gadelha |
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@pooya87. I said to look at the chart in fiat. I did not mention anything about trading and I was only indicating the direction of some altcoins in fiat. I reckon they are bullish, however not as volatile as bitcoin.
Your example is only complicating it.
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@Cryptotourist. We do not know. It would be very hard to speculate when without mentioning Grin's monetary policy and design. I reckon you should prepare to jump from a cliff hehehe.
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@buwaytress. It is easier. Money laundering requires buying something to sell back, like paintings, stocks or a house. Bitcoin and altcoins has made it easier because the market is liquid and cryptocoins are very easy to move, keep and store.
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@Febo. If they become no.1 and 2, I reckon no exchange would have a choice but to list them. Coinbase would be killed out of business if Brian Armstrong runs it with his pride hehehe.
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@freedomgo. If it did not move then it will not double in market capitalization hehehe.
Look at Ethereum's chart versus the dollar. It has touched its support on December and the price in fiat has been increasing slowly after that. You cannot deny that it is bullish, but less volatile than bitcoin for now, however.
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@ETFbitcoin. Not anymore, yes. However, money launderers will only become better to evade the law, and I speculate that they might begin slowly moving their volume to Monero and decentralized exchanges and over the counter trading.
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@pooya87. I said to check the prices in fiat, however. From your example, Ethereum has almost doubled market capitalization in fiat. That is bullish.
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Sometimes it is a hidden injury during training that insiders have heard of that causes a big adjustment in odds similar to this. I reckon this is strange if this was Manny's fans making big bets on him this early. It usually occurs 1 or 2 days before the fight. |
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@gentlemand. Why? To get more clicks hehe. The incompetent and corrupt media news sites sensationalize the news and skew the facts to make more money. The days of real investigative journalism are almost gone, I reckon. Everything these days are fake news and clickbaits.
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This will happen over and over again , but think about how many of these operations a day is carried out with fiat
The mainstream media still want to paint Bitcoin as a currency of the scamsters and criminals, although the latest data indicates that usage of Bitcoin for illegal purposes have come down from 7% in 2013 to less than 1% in 2019. 99% of the Bitcoin transactions are being used for legal purposes and the mainstream media never highlights it. However, look how easy money laundering has become without the use of banks because of the cryptospace. You also cannot deny that what we thought was legitimate bitcoin transactions and trades might also be part of a money laundering ring similar to what BTCe has done. |
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