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Zopotantor posted:this is obviously good for bitcoin, because I can't for the life of me find the animated reasons gif that goes at the end of that sentence. 
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Aug 1, 2021 12:49
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the vast us interests in...wasting a ton of electricity for epogs in use for gambling and criminal activities. i can see how this is a vital economic activity that needs protection. also the fact that at its core crypto wants to be a huge unregulated shadow banking field in defiance of existing regulations is kind of not how you want to sell the resistance, my guy. "if you regulate my toxic waste disposal facility, which is a hole punched into the the local sewer pipe, you're doing irreparable damage to the small operator toxic waste disposal industry!!!!1"
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Aug 1, 2021 13:09
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President Biden pulled military out of Iraq and Afghanistan to destroy Bitcoin.
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Aug 1, 2021 14:18
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Zopotantor posted:this is obviously good for bitcoin, because first they laugh at you, then they fight you, then you win!
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Aug 1, 2021 16:06
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kw0134 posted:the vast us interests in...wasting a ton of electricity for epogs in use for gambling and criminal activities. i can see how this is a vital economic activity that needs protection. also the fact that at its core crypto wants to be a huge unregulated shadow banking field in defiance of existing regulations is kind of not how you want to sell the resistance, my guy. "if you regulate my toxic waste disposal facility, which is a hole punched into the the local sewer pipe, you're doing irreparable damage to the small operator toxic waste disposal industry!!!!1" epognomics 101
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Aug 1, 2021 16:30
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Boxturret posted:first they laugh at you, then they fight you, then they win!
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Aug 1, 2021 16:46
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Boxturret posted:first they laugh at you, then they laugh even harder at you, then they legislate you out of existence almost as an afterthought
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Aug 1, 2021 17:05
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Boxturret posted:first they laugh at you, then they ban you in China, then they ban you in America, then...you? Win?
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Aug 1, 2021 17:20
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Might be interesting looking at migration statistics/rates for El Salvador in the next few months
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Aug 1, 2021 17:22
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lol if buttcoin operations end up in Russia for full vertical integration of the petro-ransomware industry
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Aug 1, 2021 17:40
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who was it said in one of these threads "first they laugh at you, then they laugh at you, then they laugh at you, then they laugh at you"
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Aug 1, 2021 18:11
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Hammerite posted:who was it said in one of these threads "first they laugh at you, then they laugh at you, then they laugh at you, then they laugh at you" you! just now!
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Aug 1, 2021 18:14
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EorayMel posted:Might be interesting looking at migration statistics/rates for El Salvador in the next few months electicity prices in el salvador are about 20¢ usd per kwh. you're not going to profitably mine butts with that and i doubt they will tolerate a bunch of power pirates setting up shop
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Aug 1, 2021 18:49
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Boxturret posted:you! just now! im funnier than I thought
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Aug 1, 2021 19:02
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DerekSmartymans posted:Bah! It’s not doxxing when I do it. Only when divabot does it! nah, that's box 'The Doxx' turret. divabot is the one who sells SA posts to people so they don't have to log into a dead gay forum, which I think counts as community service for his many crimes.
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Aug 1, 2021 19:21
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 https://twitter.com/cstross/status/1421840824359428099
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Aug 1, 2021 20:57
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yeah the last 4 years are full of news in the form of "thread, looks like some incredibly cool poo poo is going to happen" followed by incredibly cool poo poo not happening so i will not hold my breath
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Aug 1, 2021 21:08
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Penisface posted:yeah the last 4 years are full of news in the form of "thread, looks like some incredibly cool poo poo is going to happen" followed by incredibly cool poo poo not happening so i will not hold my breath When they forced Coinbase to do it, it loving owned
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Aug 1, 2021 21:37
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i mean, fair point that the crypto industry definitely is known for strict and scrupulous adherence to regulations, that the regulators are capable of enforcing said regulations, and the regulated entities stay put and not gently caress off to a caribbean island with zero desire or ability to enforce the same
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Aug 1, 2021 22:03
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kw0134 posted:i mean, fair point that the crypto industry definitely is known for strict and scrupulous adherence to regulations, that the regulators are capable of enforcing said regulations, and the regulated entities stay put and not gently caress off to a caribbean island with zero desire or ability to enforce the same and if they touch the US or even the USD in any manner, hilarity ensues there's a reason tether is so popular
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Aug 1, 2021 22:44
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I feel comfortable anticipating binance getting wrecked the rest of Crypto? christmas ain't for another five months or so
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Aug 2, 2021 02:35
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maybe they can beat bitcoin back down to pre gox levels, where it can be wholesome and fun again, instead of life and planet ruining
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Aug 2, 2021 02:53
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once enough billionaires stick their dicks into something laws are adjusted to suit reality as opposed to vice versa
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Aug 2, 2021 03:09
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i'm curious how trying to "maintain anonymity" with the irs isn't tax evasion
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Aug 2, 2021 04:31
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Twelve by Pies posted:i'm curious how trying to "maintain anonymity" with the irs isn't tax evasion there's an entire act regarding cracking down on exactly this kind of secrecy in banking it's called the bank secrecy act, usually if you ask sketchy questions at the branch they give you a pamphlet (if you ask real sketchy poo poo they close your account and mail it to you) which hits on the big moving part of the BSA which is collecting and reporting information about currency transactions.
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Aug 2, 2021 04:37
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the IRS taps the CTR well only moderately because it's mostly people obeying the law. Banks report people separately when they clearly should be completing a CTR but aren't. Banks who do not report people for this get fined hundreds of millions to billions of dollars.
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Aug 2, 2021 04:39
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So like this law will make it a nine-to-twelve-figure liability to not report bitcoiners lol
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Aug 2, 2021 04:40
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FAUXTON posted:So like this law will make it a nine-to-twelve-figure liability to not report bitcoiners lol
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Aug 2, 2021 04:53
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a dece 9-12 figgies
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Aug 2, 2021 04:58
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Rabobank's US operations got fined like 370 million for example and it made their Dutch parent group sell off the retail banking ops to Mechanics Bank.
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Aug 2, 2021 06:43
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US Bank ate a 600ish million dollar fine for not reporting/not reporting adequately. when the primary regulators want to make an example of you it tends to leave a mark. Coinbase knows this and in my experience is the most responsive and open 314b participant I've dealt with. Most banks will a) take 3 months to respond, b) tell you they'll get back to you and never get back to you; c) be very lawyerly/cagey in response to a 314b, or d) tell you nothing but then investigate and report on their end and 2 months later you get a grand jury subpoena about the person/people you'd been asking about. Coinbase will give you everything they have on file, detail any and all concerns they have, and include their transaction tracing data to show you where the outflows from their end went, and it usually takes idk 48 hours. This more than anything is why I keep saying crypto is a honeypot. If they're this cooperative on a voluntary basis then they must be insanely cooperative with The Men With Guns, as it were. I don't care that the immediate response is "they just want to be the first legit exchange so they're being apple-polishers" because it's a loving industry shaped by regulations - if they're the first legit exchange the regs will be modeled to it and they will land with golf spikes on anything that tries to disrupt it at first because that's how capture works.
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Aug 2, 2021 06:57
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wild that serap would spend  buying an avatar for hammerite instead of leaving it in bits coins for $10,000% return
Gazpacho fucked around with this message at 16:40 on Aug 2, 2021 |
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Aug 2, 2021 16:31
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a stack of 1935-era monopoly money is "worth" $15,140 going by its denominations, so if you're comparing it to a stack of fifteen thousand actual dollars i'm not so sure the logic holds up as well as you think. plus if we're going based on value due to being old, those 1935 dollars are actually worth more than $15,140, anywhere from $1.50 per dollar bill up to $25 per dollar bill if they're weird ones from like Hawaii according to google. that's assuming they're all dollar bills though, if they're denominated the same as monopoly money they'd be worth even more since the higher denominations are rarer. but even without the collectors and speculators market they're still always worth $15,140. the value assigned to the monopoly money is completely imaginary, whereas the real value is much lower and entirely driven by idiot collectors and speculators rather than by its actual usefulness as currency. in conclusion, i'm all-in for monopoly money being the currency of the future
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Aug 2, 2021 16:55
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As usual seraph vomits a talking point about inflation without understanding that it undercuts his latest stance on taking down big banking and the plutocrats. A perfectly stable currency entrenches power in capital who need not risk anything for returns and can live on interest forever (Piketty's famous r>g formula for concentration of wealth). Inflation destroys existing capital unless it's put into service, and therefore assumes risk. Lots of work has been done in understanding this, which is scrupulously avoided to regurgitate a literally century old axiom of Austrian school economics.
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Aug 2, 2021 17:19
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I had to do like 15 hours of AML/OFAC training when I worked for us bank, glad to see it was a good use of my time [I had no access to any financial data, they just make everyone take it]
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Aug 2, 2021 17:26
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cashbux or hashbux? it's one or the other there is literally no other option for deploying your wealth
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Aug 2, 2021 17:28
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kw0134 posted:As usual seraph vomits a talking point about inflation without understanding that it undercuts his latest stance on taking down big banking and the plutocrats. A perfectly stable currency entrenches power in capital who need not risk anything for returns and can live on interest forever (Piketty's famous r>g formula for concentration of wealth). Inflation destroys existing capital unless it's put into service, and therefore assumes risk. Lots of work has been done in understanding this, which is scrupulously avoided to regurgitate a literally century old axiom of Austrian school economics. actually i think you'll find if you just make holding debt incredibly profitable the whole system will just collapse because they just won't know what to do with all that darn money
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Aug 2, 2021 17:29
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no one ever talks about the australian school of economics
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Aug 2, 2021 17:29
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i keep wanting to look into the early works of the austrian school (e.g. bawerk) to see if there was any substance to it before mises and rothbard turned it into neo-jacksonian talking points, but somehow i always find something else I'd rather do
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Aug 2, 2021 17:30
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Shame Boy posted:actually i think you'll find if you just make holding debt incredibly profitable the whole system will just collapse because they just won't know what to do with all that darn money
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Aug 2, 2021 17:38
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