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I don’t think you need to get rid of it all. Diversify. I myself am pretty bullish on Solana
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Hey everyone, it’s been a while since I’ve been on here. I’ve been lurking on Twitter and honestly I can’t get with the whole NFT thing. What about guys? This feels like the ICO phase back in 2017-2018.
Yeah, it does feel like the ICO phase back then only this time there will be more tangible and closer to real world assets. SO many projects now, everywhere you look are doing NFTs for everything. To be fair, it has its value but I'm not 100% convinced that everything needs to go through the NFT route. Definitely, a bubble that is going to full expansion and these are but early days. I don’t think it’s going to be a bubble. Back in the ICO days it was all speculative and we can’t forget what some companies did with “gold backed crypto”. I just heard about 4K but their use case is interesting. For mass adoption is makes sense to derive value from assets the average person can understand. |
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What?
Do you truly think that Trump actually does care about BItcoin in the least? The answer to this question is NO, I doubt even he truly knows what Bitcoin is. Trump wanted to attach Facebook and Libra, and used Bitcoin as a way to do this.
If anyone is to care about Crypto it's going to be the federal regulators, instead of Trump himself -- and the IRS/SEC doesn't seem to think that BTC must be removed.
You said exactly what I was thinking. I have a feeling that crypto is far from trump's mind |
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Decentralization is probably not possible in the future if we want crypto to be embedded in everyday life
I thought that was the goal of crypto? To have people expand from fiat to digital currency. There has to be some level of compliance and regulation otherwise all countries in the world won't agree. It would make sense to see ciphertrace bringing such tools to the table |
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Everyone has literally been saying that as it continues to cilmb. Does anyone have any idea what caused the spike?
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CipherTrace has announced an app coined Scout that tracks and documents illicit crypto transactions. The app traces addresses through the blockchain to identify which coins may have been used dark market and ransomware. Do you think people are likely to use this app? Also, who would get the most use of it? https://www.coindesk.com/ciphertrace-scout-app-takes-crypto-investigations |
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He can't even seem to give proper attention to underserved communities what makes us think he will care about people in hong kong
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I would be interested to see if instead of delisting coins they choose to implement TRISA framework
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If you question what coin to always invest in, always invest in BTC.
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I tend to always put a little into BTC during the dip, pick up some BNB, NULS and Eth
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Interesting to hear everyone's thoughts here and I am intrigued in potentially holding NULS based on your opinions
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This will always be an ongoing question and mystery. I appreciate that know one really knows and I hope no one ever finds out.
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IMHO I think the technology will be able to track those 1x movements but won't really be alarmed until reoccurances of movements sets it off showing signs of money laundering. I think that's the entire premise behind what Ciphertrace is trying to create. A privacy preserving compliance tool
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Not getting into bitcoin mining when my friend was all about it in 2010. shoulda listened
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Security firm Ciphertrace just announce the release of its Travel Rule Information Sharing Architecture (TRISA) allowing crypto businesses to handle the recent travel rule set into regulations. Provided for free as open-source software. This comes after FATF recent recommended guidelines for exchanges. TRISA is looking to provide security when sharing information between VASPS. I know there might be a lot of push back from people in regards to preserving privacy but this might be better than governments slapping down regulations hard on exchanges. https://bitcoinmagazine.com/articles/ciphertrace-unveils-travel-rule-protocol-for-cryptocurrency-businesses |
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I don't think their plan is to control it but instead implement regulations against money laundering. It sounds like they've invested the most money into blockchain forensic partners
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haven't heard of Our World yet but good to see NULS involved in gaming world. I know they had NFTs listed in their ChainBox Dev kit
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FinCEN released guidance on May 9th that gave exchanges 180 days to comply with the travel rule. wow, this was news to me. the new FinCEN requirements are really far-reaching and burdensome. they even plan to designate mixers as financial institutions regulated under the bank secrecy act: Providers of anonymizing services, commonly referred to as “mixers” or “tumblers,” are either persons that accept CVCs and retransmit them in a manner designed to prevent others from tracing the transmission back to its source (anonymizing services provider), or suppliers of software a transmittor would use for the same purpose (anonymizing software provider).
An anonymizing services provider is a money transmitter under FinCEN regulations. The added feature of concealing the source of the transaction does not change that person’s status under the BSA. that means by this coming november, they are expecting mixers to register with FinCEN, perform KYC, and start filing currency transaction and suspicious activity reports!  fortunately, this new guidance doesn't appear to reflect the FATF travel rule exactly. there don't seem to be any $1000 reporting thresholds. under the BSA, institutions are required to file a CTR at $10k, and they begin filing SARs at $5k. I agree I didn't realize that FinCen released guidance until reading this post. Same with the mixers I had no idea. I mean it makes sense to see ciphertrace work to step in and try to help exchanges since they focus on compliance |
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At this point I think most is legal unless it is seen as a security or goes against the new FATF Travel Rule. I know some exchanges are working with Ciphertrace to help abide by this law that is set in place
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I am a big proponent of Ciphertrace because of their quarterly AML reports as well as working with top exchanges like Binance. They are also working to create a better process for the travel rule with Shyft
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