- Jan 8, 2011
“Biden Admin To Regulate Bitcoin 'As A Matter Of National Security'; Report”
Not disagreeing in an absolute sense, but I don't have a lot of confidence that the gov't will regulate it properly. The primary reason I feel that way is that the gov't interest in BTC success is quite low. The US gov't, as well as the Chinese gov't has debt problems, coupled with demographic problems that compound the problem.Crypto regulation is a good thing.... Done properly, crypto regulation will only help the space.... Regulation is not always bad.
I was writing pretty much the same thing but got sidetracked and didn't finish my post.Not disagreeing in an absolute sense, but I don't have a lot of confidence that the gov't will regulate it properly. The primary reason I feel that way is that the gov't interest in BTC success is quite low. The US gov't, as well as the Chinese gov't has debt problems, coupled with demographic problems that compound the problem.
A classic way gov't addresses debt is to pay back the debt tomorrow with cheaper dollars. But this only works if there is no other place for investors to go, and they have to stick with the US dollar (or Chinese RMB. If BTC becomes the stable world reference currency, the central banks are in big trouble. So when someone says gov't regulation, I think they want to be able to kill it by regulation. You can't kill it technically because it's a distributed block chain, but you may be able to kill it in a regulatory sense.
Still doing my research. I'm a crypto virgin. But I'm leaning towards Monero. It's very anonymous, you can't read the block chain and see transactions, you can't see other's funds, you can't prove who sent the money, you can't prove who received the money, you can't even see how much money private parties transacted. For the purchases of making anonymous transactions it looks excellent.
Bitcoin looks great for storing money. But my needs are to have my transactions be completely untraceable. I think I'm on the right track?
McAfee was a Monero advocate — and he did understand encryption, privacy very well.
Convert to UST, take it to Anchor and make 20% yield on stable coin. $200k/yr income on you million.I have a account on crypto.com that I use for their badass debit card rewards. My only hang up is that I now have right at a million bucks in crypto, that'll probably draw a red flag when I deposit? I guess I could always run it through tornado and say that I had that since the beginning. The loan idea is actually not a bad idea at all. I have never thought about it like that
(assuming as for 'proper' regulation. There is incentive to allow it since it will produce money and tax revenue. Even 'bad' regulation is better than none. Uncertainty, means businesses can 'plan'. Once CLEAR regulations are in place, the people who make and move money will then work within that framework. Right now, too many unknows are holding back some VC investments into things that SEC wont say whether they are a security...etc.
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