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Terrorists have been funded in USD for decades so why haven't they clamped down on that?
They have. There are extremely strict controls on cash transfers in & out of countries.

Crypto currencies circumvent those checks and evade law enforcement.

US, Canada and many other western countries are developing central bank digital currency
The money system is already digital. Both central bank money transfers and inter-bank transfers are fully digital.
 

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They have. There are extremely strict controls on cash transfers in & out of countries.

Crypto currencies circumvent those checks and evade law enforcement.
yes and no, most crypto currencies track and publicly disclose every single transaction.
 

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They have. There are extremely strict controls on cash transfers in & out of countries.

Crypto currencies circumvent those checks and evade law enforcement.
Cash needs strict controls because it's untraceable otherwise. There's already blockchain solutions coming and KYC requirements for exchanges

In Canada we have Form T1135 and strict penalties for not reporting foreign financial activity, crypto or not

If you think cash doesn't cross borders untraced you are very naive.

The money system is already digital. Both central bank money transfers and inter-bank transfers are fully digital.
Calculators are digital but they can't do much compared to a smartphone.. I use both systems and they are not comparable at all.

You're much smarter than this. Those who understand tech and finance can really benefit early
 

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Cash needs strict controls because it's untraceable otherwise. There's already blockchain solutions coming and KYC requirements for exchanges

In Canada we have Form T1135 and strict penalties for not reporting foreign financial activity, crypto or not

If you think cash doesn't cross borders untraced you are very naive.

You're much smarter than this. Those who understand tech and finance can really benefit early
Those working in Finance and Capital markets understand.

I can easily use Chain Analysis platform to track incoming Bitcoin/crypto deposits and flag suspicious activity. The ledger aspect is very useful.

Excited to see if the CSE exchange can transform to a blockchain based exchange for transactions, record keeping settlement etc. . .Currency works is working on that solution with them.
 

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Excited to see if the CSE exchange can transform to a blockchain based exchange for transactions, record keeping settlement etc. . .Currency works is working on that solution with them.
It only makes sense. No more waiting 2 days for stocks to settle etc

Decentralized exchanges and automated market makers could also disrupt centralized exchanges but obviously there's a lot of regulation and technology to sort out

Of course all the intermediaries who will be replaced want to paint blockchain as terrorism but the dinosaurs will eventually fade away
 

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They have. There are extremely strict controls on cash transfers in & out of countries.

Crypto currencies circumvent those checks and evade law enforcement.
Cryptocurrencies do not circumvent any location transfer restrictions because it is simultaneously everywhere.
The cryptocurrency was never in a particular location, therefore it was never transferred out or in of any other location.
 

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The governments can :

A) Spend the time and resources to chase down illegal crypto criminal transfers....... or

B) Eliminate the problem by banning any financial institution from dealing with them.

I think they will choose option B when they get around to it.
 

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I think they will choose option B when they get around to it.
With all the major US banks getting involved I'm afraid you're out of the loop at this point

Gerry Gensler was just just sworn in as chairman of the SEC and Hester Pierce is also very crypto friendly. Several US states are already encouraging and attracting blockchain innovation.

Canada approved the ETFs before the US but unfortunately the real opportunity to beat the previous US gov out of the gate has passed.

Why would Visa and Mastercard invest in blockchain integration if it was still unclear if the US gov would ban it "when they get around to it"
 

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Crypto are part of a bigger bubble in all perceived "rare" assets.

Check out the latest sales of cardboard sports cards.........and not even vintage cards 100 years old. These are cards printed in the last few years.

It isn't old time collectors buying up this crap. It is newly minted billionaires cashing in their bitcoins and doge coins.

And quite possibly, the illegal laundering of drug money, which is likely a large part of crypto as well.

I have seen this play out before years ago during the domain name speculation boom. People spending ridiculous amounts of money to buy a stupid name.

When the word came out the FBI and US authorities were investigating..........it suddenly all stopped.

 

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The SEC regulates securities. The Treasury and the Fed will make the recommendations to Congress for legislation.

Visa and Mastercard are considering developing their own form of blockchain.

That means nothing to the value of crypto since they would use USD as the blockchain currency.

Some countries have already banned crypto. Many are considering their own centralized digital money based on their own currency.

The venture capitalists of Coinbase have cashed out their shares. Elon Musk sold a lot of bitcoin. Cathie Wood has bailed on some crypto stocks.

The corporates smell profits and are raking in the cash for as long as they can. The retail investor is typically the bag holder.
 

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Elon Musk claims he hasn't sold any of his own BTC. TSLA sold some to rebalance and prove liquidity to shareholders. Cathie Wood has to rebalance which means selling holdings that are doing well (ie selling some TSLA for COIN)

Visa and Mastercard are integrating a USD stablecoin that uses the ethereum network. ETH is required to use the ethereum network. That means something to the value of ETH imo but what do I know

I'm not going to spend my time trying to explain everything to the dinosaurs. I've given you enough to do your own research. I've made more than you can probably imagine in the last year and taken enough off the table to retire very young
 

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The governments can :

A) Spend the time and resources to chase down illegal crypto criminal transfers....... or

B) Eliminate the problem by banning any financial institution from dealing with them.

I think they will choose option B when they get around to it.
I think they'll likely try B.
But I don't think it will last, also it will put those governments behind technologically.


It really boils down to a few key things,
If cryptocurrencies is a dumb idea that doesn't make sense, it will collapse on it's own.

If they are a great idea that is much better, banning them is like putting a tax on your entire countries economy, then throwing the money away.
 

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Elon Musk claims he hasn't sold any of his own BTC. TSLA sold some to rebalance and prove liquidity to shareholders. Cathie Wood has to rebalance which means selling holdings that are doing well (ie selling some TSLA for COIN)

Visa and Mastercard are integrating a USD stablecoin that uses the ethereum network. ETH is required to use the ethereum network. That means something to the value of ETH imo but what do I know

I'm not going to spend my time trying to explain everything to the dinosaurs. I've given you enough to do your own research. I've made more than you can probably imagine in the last year and taken enough off the table to retire very young
your not going to get a big deep dive on this board for blockchain or crypto.. . Same as you, I had really good crypto investments, mostly on the equity side pre-ipo but some pure crypto side as well.

new guidance from CSA to Canadian exchanges is causing some to abandon their listing plans which sucks.

any good defi projects you are in?
 

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any good defi projects you are in?
Mostly waiting for the smart contracts and associated defi projects to launch on cardano now. I rather just stake when the fees are so high. I have a pile of BNB I bought to pay their fees but I haven't bothered with BSC (probably should!) I just think BSC will get replaced by ETH2 and cardano

I toyed with uniswap, 1inch, yearn, compound as a pandemic hobby until the gas fees got out of hand. This later airdropped me their governance tokens which was a crazy surprise. I have my own ETH and cardano nodes but you can earn nearly the same yields at voyager now (hopefully it comes to Canada soon!)

I imagine yields will come down as more see how lucrative it is compared to legacy finance then it'll be time for me to rotate some out. Look at real estate, bonds and savings accounts today.. The masses all crowd the same markets. There's a lot of idle capital sloshing around
 

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Mostly waiting for the smart contracts and associated defi projects to launch on cardano now. I rather just stake when the fees are so high. I have a pile of BNB I bought to pay their fees but I haven't bothered with BSC (probably should!) I just think BSC will get replaced by ETH2 and cardano

I toyed with uniswap, 1inch, yearn, compound as a pandemic hobby until the gas fees got out of hand. This later airdropped me their governance tokens which was a crazy surprise. I have my own ETH and cardano nodes but you can earn nearly the same yields at voyager now (hopefully it comes to Canada soon!)

I imagine yields will come down as more see how lucrative it is compared to legacy finance then it'll be time for me to rotate some out. Look at real estate, bonds and savings accounts today.. The masses all crowd the same markets. There's a lot of idle capital sloshing around
Buy and Hold(buy and stake) is good strategy right now. Ethereum is crazy for gas fees.

Have you heard much on Defi projects on Solana? I'm trying to convince a project to move to Cardano but the lead developer seems dead-set on Solana.

I've had some yields come down lately. Blockfi just lowered my interest. i expect more decreases to come as more enter in but its good to collect year while you can.
 

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I don't have any problem with the underlying technology (it's an interesting concept), but I do suspect that much of this is a scam.

I think that scam artists / groups of large holders are pushing these around and tricking people into buying them up, in pump & dump fashion. All the warning signs are out there, including promises of high returns, and weird forecasts (with absolutely no fundamental basis) that prices are "certain to be higher" next year.

The aggressive marketing is also specifically targeting younger and less experienced people. Young people live their lives on social media, so they are easy targets for con artists' marketing, and more gullible due to their age. The con artists use all kinds of slick techno babble, much of it is nonsensical really.

So I continue to avoid it, because it all smells like a scam to me.
 

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I heard Solana has a really good team (like a lot of them have backgrounds from major tech companies) If that dev prefers the Solana language (rust?) it would be hard to switch I imagine. I use the rust clients for ethereum because I found them more stable

Cardano uses haskell like the military and financial industry but I doubt as many devs know it.. Cardano seems to have the best foundation but yea the biggest question is whether the devs will build on it. Not much good without the devs
 

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I heard Solana has a really good team (like a lot of them have backgrounds from major tech companies) If that dev prefers the Solana language (rust?) it would be hard to switch I imagine. I use the rust clients for ethereum because I found them more stable

Cardano uses haskell like the military and financial industry but I doubt as many devs know it.. Cardano seems to have the best foundation but yea the biggest question is whether the devs will build on it. Not much good without the devs
The dev is spirited in the passion for Solana but could convince the board members to go with cardano. As long as it has a good ecosystem and momentum, I’m not opposed to cardano or Solana. I hear way more good things about cardano though. So believe it will make the marketing of it way easier.
 

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I don't have any problem with the underlying technology (it's an interesting concept), but I do suspect that much of this is a scam.

I think that scam artists / groups of large holders are pushing these around and tricking people into buying them up, in pump & dump fashion. All the warning signs are out there, including promises of high returns, and weird forecasts (with absolutely no fundamental basis) that prices are "certain to be higher" next year.

The aggressive marketing is also specifically targeting younger and less experienced people. Young people live their lives on social media, so they are easy targets for con artists' marketing, and more gullible due to their age. The con artists use all kinds of slick techno babble, much of it is nonsensical really.

So I continue to avoid it, because it all smells like a scam to me.
The latest Bill Maher video on this topic pretty much sums up opinion on this topic. Check it out.
 
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