HODL til 2024 Crypto Bull Run

[Jibartik]

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...

[Smoofers]

Originally Posted by Botten [You must be logged in to view images. Log in or Register.]

99% of crypto is probably going away.

Holding a security instead of a currency speaks volumes to what is planned next.

The infrastructure bill the house just passed with rules and regulations for cryptocurrency reporting is a game changer.
They are classifying digital assets as securities.

Brad Garlinghouse gave some warnings himself which were largely ignored.

There are people sitting at the table with the government, regulators, the biggest banks in finanical institutions.

These Lobbiest are already interfering and will continue to interfere.
See plans Even worse planned effective changes on Crypto Trades in 2023, Tax Filings in 2024*

Cash out and stay out else regret it. Before the Rush and your the one left with the empty bag.

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.*

Get out. There is no safety net on this Janga block chain tower that is about to fall.

https://www.voltequity.com/post/new-...structure-bill

Cryptocurrency exists outside of the US. In fact, that's kind of the whole point. Hope this helps.

[Castle2.0]

99% of crypto is probably going away.

Holding a security instead of a currency speaks volumes to what is planned next.

The infrastructure bill the house just passed with rules and regulations for cryptocurrency reporting is a game changer.
They are classifying digital assets as securities.

Brad Garlinghouse gave some warnings himself which were largely ignored.

There are people sitting at the table with the government, regulators, the biggest banks in finanical institutions.

These Lobbiest are already interfering and will continue to interfere.
See plans Even worse planned effective changes on Crypto Trades in 2023, Tax Filings in 2024*

Cash out and stay out else regret it. Before the Rush and your the one left with the empty bag.

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.*

Get out. There is no safety net on this Janga block chain tower that is about to fall.

https://www.voltequity.com/post/new-...structure-bill

There is FUD, which is intentionally malicious, but then there is IFUD (Ignorant Fear Uncertainty and Doubt) which comes from a lack of knowledge.

1. You already have to report taxes on crypto as property. Changing it to reporting as a security doesn't change the outcome for the individual: you pay income on capital gains when you sell the crypto, period.
2. There already exist crypto tax services that use an API to grab all your trading info off exchanges you use (Coinbase, Kraken, Gemini, etc) and do the crypto portion of your taxes for you. One example is Taxbit, that raised $100 million from Tiger Global and Paradigm. They are now branching into normal tax prep too. Cya later classic tax accountants that don't adapt.
3. Stocks are regulated as securities. Did 99% of stocks magically, suddenly, without reason, disappear?
4. If bitcoin is a security, who is the legal entity that issues bitcoin? Who will the SEC approach to attempt to regulate the nature of bitcoin?
5. Firo, Monero, and other coins are anonymous, how will they regulate those? (see https://www.firo.org/about/research/ for details on how they do privacy)

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.

[Castle2.0]

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.

[Botten]

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.

[Botten]

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.

[Gustoo]

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.

[Whale biologist]

Originally Posted by Castle2.0 [You must be logged in to view images. Log in or Register.]

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.

In order to be a regulator you gotta be handy with the steel if you know what I mean, earn your keep.

[Gustoo]

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.

[Castle2.0]

I used to think I was a genius. But in reality, I was just surrounded by ignorance and shallow thinking.

Originally Posted by Botten

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.

To make sure you pay taxes on all the pirated movies and games you downloaded, and didn't pay for, the tax form should include this line:

At any time during 2020, did you download, store, watch otherwise acquire any pirated games or movies from any site? []Yes []No

Regulation of crypto will be much like regulation of torrenting: technically there, but pragmatically "opt-in" by self-reporting or using centralized services who keep track of what you are doing.

What did you expect there isn't exactly lobbiest fighting for the existence of crypto.

False. Try google.

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.

FUD. See you in 2024. Sorry you will be poorer for your lack of vision, weakness to fear, and learned helplessness.

But I can see why your worried. You are a promoter and there is legislation being made to come after you too.

Not worried. Regulation is net positive for crypto. It allows old people to invest their retirement in bitcoin - already happening.

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.

Originally Posted by Gustoo

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.

Learn how blockchains work.

Also, see gold confiscation history.

Originally Posted by Whale

In order to be a regulator you gotta be handy with the steel if you know what I mean, earn your keep.

You were reduced by a tenth previously in this thread then exited. Feel free to watch from the sidelines on this cool black night or own up for your silliness.