#221
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SOl went up like 200$ this week
Matic did as well I have chainlink and im hoping it goes up a few hundred from where its at all of this opinion will probubly change in a week but ive had it for a few weeks and wish I had it for the last 6 mo I almost bought pokadot at like 1 dollar but I chickened out!! This guy has never steared me wrong but that's just blind luck I think... | ||
#222
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#223
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You got it backwards, pal. Banks will be replaced by crypto-friendly banks, or crypto exchanges that become banks. Classic tax accountants will have to learn crypto taxes, or be replaced. The only thing that is going to fall is the old status quo financial system. You're telling people to run from the strong tower of safety into the tower of babel.
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#224
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The US govmint can regulate US CEX (centralized exchanges) like Coinbase and Kraken. They can try to regulate CEX outside of the US via banking system (control flow of USD from bank to bank.)
They cannot regulate the blockchains themselves. They operate decentralized with no central entity. They cannot regulate DEX (decentralized exchanges) like Uniswap, Pancakeswap, Sushiswap -- there are no legacy financial monetary pipes into or out of those system to regulate. It's pure crypto, often the LP (liquidity providers) are numerous anonymous individuals. Any USD is done via USDC, USDT, or some other stablecoin, or no stablecoins are used at all. Trading pairs are pure crypto. Regulation is good for price. It allows more people to access it. For those who don't care to be regulated themselves, they can simply operate outside of the regulation. Welcome to Bittorrent for money and investing.
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#225
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Because cryptocurrency exchanges have not previously been required to provide reports to their customers (like traditional brokers do), many taxpayers unknowingly failed to report their capital gains from cryptocurrencies, thus cheating the U.S. government out of tax income.*
In fact, legislators felt that underreporting of cryptocurrency gains was such a problem, IRS form 1040 now includes a new line that asked, At any time during the year, did you receive, sell, exchange, or otherwise acquire any financial interest in any virtual currency? What is perceived as lying and not lying on your taxes. Crypto gives the appearance of an investment and what is the point if your investment when viewable value is now all fake. More so than before and worse in the future with more regulations coming. | ||
#226
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What did you expect there isn't exactly lobbiest fighting for the existence of crypto.
And Global and US banks aren't going twiddle their thumbs. They are going to come off on top just like those getting out before the tumble. But I can see why your worried. You are a promoter and there is legislation being made to come after you too. | ||
#227
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The big banks will either come out with full control of crypto somehow, or by destroying the legality of crypto everywhere it matters. All it would take is USA to say it is a crime to end it, and the senators and friends who knows the legislation is coming would cash out no problem and like all pyramid schemes be out clean as a whistle while others are holding the bag.
Problem is this stuff is driving a lot of "wealth creation" right now so I dunno maybe they wait till economy collapses to kill crypto at same time. Double down on the poverty. | ||
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#229
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Maybe crypto can keep having value if its hard to exchange for USD. Maybe?
I think people want to be able to exchange for common currency at favorable rates to do business legally. If its a black market exchange in BTC for USD to buy a home then it ain't gunna work out. | ||
#230
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I used to think I was a genius. But in reality, I was just surrounded by ignorance and shallow thinking.
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What can be regulated, will be: Central Exchanges, ETFs, investment advisors, IRAs, etc. What can't be regulated, won't be: DEX, blockchains, foreign exchanges. Quote:
Also, see gold confiscation history. Quote:
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