https://twitter.com/BitcoinMagazine/status/1629573858104582144
Source: https://nymag.com/intelligencer/2023/02/gary-gensler-on-meeting-with-sbf-and-his-crypto-crackdown.html

Is Gensler "our guy" now?

How do anti-altcoiners feel about this?

That's top-tier trolling. Obviously that's not an official account of SwC, with only 1 post and the link not working


And then there's this  :

Sorry for your loss OP, but I have to say that I find looking at the father-son relationship through bitcoin-holder lens (and referring to him as Bitcoin Father) as a bit creepy.
I know we're on Bitcoin forum, but the cult-like vibe here can be really offputting. Bitcoin is just a tool, not some magical purpose of life.
If you want to honour your father, be a good man with a strong moral spine and raise your own children well, to keep the bloodline going. Don't shift too much focus and energy on trivial things like bitcoin holding.

just a weekend dip, r..right guys?

At this point, it's almost certain that cash is on its way out globally. When it happens, crypto is well-positioned to naturally take its place. That's why I expect a major crackdown on crypto to follow shortly after CBDCs are implemented. I don't expect they will just allow crypto to thrive and grow uncontrollably, if they won't straight up ban it, they'll make it really hard to use (by restrictions, taxes and reporting requirements) to keep it contained.



I think so too. Boiling the frog etc. UK announced that their CBDC will likely come with a limit that one person can hold of £10k-£20k, to prevent people abandoning traditional banks all at once.

BTW, it's kind of funny how's there literally zero resistance from the all-powerful banking sector, knowing that CBDC will likely to cripple their operations. Really makes you ponder 🤔

Fud is an inseparable part of the crypto ecosystem. I don't think we've ever seen any few months period without bigger or smaller fud going on.
As for Binance, it really starting to look like US regulators are set on not letting them grow too big.
But if they can handle moving away from Paxos smoothly, it would add to their credibility, and to Paxos' as well.


Sure but the costs of them paying for storage are much lower than if they were to store it themselves.
And yup, looks like they're charging some small fees on each on-chain transaction. From their whitepaper:

Wealthy, drunk guys in a playful mood are every casino's favuorite type of customer


That's true for classic casino games, but technically possible for sports betting, i.e. by doing arbitrage betting, but that would get you banned eventually.

Obviously, but I assume we're talking about adult people, who, at least in theory, should be able to compare the value of different assets. For that, there has to be a certain level of awareness, and I think Bitcoin is doing very well in this regard, despite what OP's video might suggest.
I would never expect that Bitcoin could capture as much of the general public's attention as it did during the last rally, where literally anywhere you went, people (completely uninterested in crypto before) were talking about investing in it.

ps. The modern art market is largely a money laundering fraud. Just saying.

https://uk.news.yahoo.com/bitcoin-future-hinges-donations-got-194653381.html

Is Bitcoin development being dependent on funding from crypto-businesses a potential threat? What's the worst that could happen if the funding dries up and there are only a handful of dedicated devs dedicating only their spare time? Will Bitcoin survive?

I think the $150-$200 mil/year to maintain the entire ecosystem is likely exaggerated, but what's the minimum level of funding, if any?

Don't make a judgement based on one short video clip. He wouldn't earn many views for posting people choosing 1 BTC over $100. Most videos of that sort are either staged or they would just cherry-pick and compile the most ridiculous responses to get more views.
I recall seeing a similar videos i.e. with an authentic Krugerrand Vs chocolate bar (iirc)

Prawdopodobnie martwisz się nieco przesadnie, ale rozumiem problem.

Z jednej strony nie robiłeś nic nielegalnego i zamierzasz zapłacić podatek jak uczciwy obywatel. Ale z drugiej strony, każdy mógłby wyprać dowolną kwotę, kupując bitcoiny za gotówkę i twierdząc że wykopali je dawno temu.

Nie byłem w takiej sytuacji ani nawet nie mieszkam w Polsce, więc ci nie pomogę. Ale na pewno trzymaj klucze do starych adresów do których szły kopane bitcoiny i ewentualnych innych adresów na które je przesyłałeś tak żeby móc przedstawić całą historię przepływu środków (jeśli zajdzie taka potrzeba). Miej też zarchiwizowaną kopię strony Multipoola i dowód zakupu koparek itp. Tak żeby cała historia trzymała sie kupy.

Na twoim miejscu zadzwonił bym (anonimowo) do banku i Urzędu Skarbowego i zwyczajnie zapytał jakie jest ryzyko zablokowania środków i czy potrzebujesz jakichkolwiek dowodów na uzyskanie takiego przychodu.

Osobiście wątpie żeby urzędy miały jakikolwiek standard działania w takich sytuacjach, tj. analizowanie adresów itp. Prawdopodobnie jeżeli bank nie zablokuje ci środków i zadeklarujesz i zapłacisz podatek, to nikt cię po tym niepokoić nie będzie.

Żeby uniknąć blokady, mógłbyś to rozbić na drobniejsze kwoty. To też będzie wyglądać podejrzanie i też bank może cię zgłosić za podejrzane operacje, ale przynajmniej będziesz trzymał kontrolę nad większością swoich środków.

No i może ktoś inny się wypowie czy wymiana krypto na krypto podlega w Polsce opodatkowaniu. Choć zgaduję że w czasach Multipoola to nie było prawnie sprecyzowane.

Not 100% sure, but usually there would be some option to cash in bonds before they mature with some small penalty. Or, most likely, US treasuries can be just traded on the open market. Some of the RRPs have maturity dates as late as 2049, there's no way they would hard-lock any funds for that long without an option to terminate early.
So Paxos should be able to service any withdrawal/conversion requests in a relatively short time if it comes to that.

It's almost fascinating how some people are incapable of understanding the probability of winning.

Let's make it simple:

You have one guy with 100,000 tickets and a million other guys with 10 tickets each.
For the sake of easier calculation, let's assume there's one prize to win.
Despite having 10,000 times more tickets than any other guy, the guy with 100k tickets has less than a 1% chance of winning.

So there's 99% chance that a winner will be someone with only 10 tickets. And then a bunch of geniuses on the forum is shocked how is that even possible 🤦

Why would you care about lasting long in gambling at all? That's a strange goal to have.

I'd much rather lose $100 in a minute, than keep playing whatever game for say a couple of days and lose the same amount - because then I'd also lose a lot of time, and you can't buy or win that back.

Ha, I get where you're coming from, I had the same mindset not that long ago. But then reality kicks you in the head when you realise you're already overexposed to Bitcoin and face the dilemma of whether to further increase that exposure by putting in money you can't really afford to lose.
I figured it's best to play it safe for now and see how the situation pans out in the near future. There are no safe options that allow you to beat inflation, but accepting a small loss in value seems more sensible than going all-in and hoping for the best.
It's a cliche but diversifying is the key.

Gold-backed tokens have been around for a while, i.e. Pax Gold: https://paxos.com/paxgold/
They don't have to set up any storage themselves, but would rather use trustworthy, reputable, and much cheaper 3rd parties like Swiss banks, or, in the case of Pax Gold - LBMA (London-based precious metals authority).

Not sure how they generate a profit on that though, probably it's just initial issuance and redemption fees, so much less attractive than fiat-based stablecoins, where most of the profit would be generated from interest on clients' deposits.

It shouldn't though. Acting upon pure intuition for making financial decisions is generally a bad idea. What you think is "your" intuition, is usually an emotional reaction to the environment, i.e. if everywhere you look you see FUD - you're more likely to get fearful and sell even if you wanted to hold for a long time.
It's best to have a cold-calculated plan, clear and realistic expectations of your investments and set targets that you want to start realising your gains.

Crypto trading 101: Hopes and promises of a bright future sell way better than actual utility.

And if you consider ETH to have utility, then you have to admit the same for other similar networks like Binance Smart chain, Polygon or Avalanche.

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This thread has now over 100 replies and OP is apparently not interested in engaging in his own discussion. So if anyone is interested in giving OP any advice - don't.

That makes sense, but, if that's the case, insurance would only cover the fiat equivalent of customers' holding at the date of collapse (or another arbitrary date), so it's not like they can withdraw their crypto and it's not like they aren't in loss, due to BTC appreciating in value since then.

That's kind of a paradox, where insolvent, bankrupt crypto exchanges can end up with a surplus of funds after the bankruptcy process is completed. At the expense of its customers that is. That's something that happened with Mt. Gox.