Master Thread tfsf/cryptostreetbets - FLR has finally arrived

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America 1st said:
Yeah I was sharing so folks understand the narrative they're trying to spin.

I think it's pretty obvious they've allowed the rise of Bitcoin because they want it around to condition folks to digital currencies and to track folks against the central banking system.

Like you said if it was REALLY a threat they would have squashed it long before now.

We're never going to get an end around on the central bank with some sorta other currency or asset. The only way to beat the central banks and especially The Fed is to go at it head on and remove the whole thing. Half measures and end arounds just aren't good enough.
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I think the value will go up and this ends up very dystopian

Looking back, it definitely came from Darpa, central authorities. The quintessential libertarian coder savant caught on to it, developed the network, helped establish bitcoin's brand as storming the bastille finance. All predicted by PhD Satoshi, as the original miners weren't going to hold on to bitcoin long term.

The rebels build the palace and the Old guard sleeps in it

Bitcoin is the shiny bridge to a dystopian nightmare in the mold of Huxley's predictions
 
America 1st said:
That's my point. They'll definitely both exist!

They want people making transactions on the digit dollar so they can track it.

On top of that they can print endless digital currency AND dollars just like always.

I don't think you'll ultimately see Bitcoin (and a few others) become illegal but they'll likely make it so folks can only cash and trade in their other those coins for the new digital currency if I had to guess.
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more than tracking. They want to replace the supply and demand signals in the market. They can instantly force you to buy certain sectors, they can time out the currency, re,ove your currency if your social credit drops and who knows what else.
 
America 1st said:
That's my point. They'll definitely both exist!

They want people making transactions on the digit dollar so they can track it.

On top of that they can print endless digital currency AND dollars just like always.

I don't think you'll ultimately see Bitcoin (and a few others) become illegal but they'll likely make it so folks can only cash and trade in their other those coins for the new digital currency if I had to guess.
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How would the government force you to trade in only their currency? Isn't the whole point of a free market to allow you to trade using what ever you want so long as it's not illegal? Like the only way they could stop you from trading with bitcoin is to make it illegal otherwise I can just walk up and trade with whatever I want.
 
muddytumbo said:
How would the government force you to trade in only their currency? Isn't the whole point of a free market to allow you to trade using what ever you want so long as it's not illegal? Like the only way they could stop you from trading with bitcoin is to make it illegal otherwise I can just walk up and trade with whatever I want.
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Not true at all.

They could regulate that process the same way they make it so folks can't exchange in other currencies or assets.

It's pretty simple to do then they just fine any entity that can make those exchanges and continue to do so outside of said mandate.

The Fed wants to do this with El Salvador or whatever country it was that just foolishly made Bitcoin tender in their country.
 
America 1st said:
Not true at all.

They could regulate that process the same way they make it so folks can't exchange in other currencies or assets.

It's pretty simple to do then they just fine any entity that can make those exchanges and continue to do so outside of said mandate.

The Fed wants to do this with El Salvador or whatever country it was that just foolishly made Bitcoin tender in their country.
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How is the fed going to stop me as a business owner from taking bitcoin as payment for my services? How is the fed doing this with other currencies? If I want to be paid in socks for my work there's not anything the fed can do about it. I have the freedom to accept whatever form of currency I want for my labor.
 
muddytumbo said:
How is the fed going to stop me as a business owner from taking bitcoin as payment for my services? How is the fed doing this with other currencies? If I want to be paid in socks for my work there's not anything the fed can do about it. I have the freedom to accept whatever form of currency I want for my labor.
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This simply isn't true and we both know it. They can make paying in humans, drugs, Bitcoin, or pretty much anything illegal.

They don't have to "stop" you per se once they starting fining you 250k per transaction in whatever product / asset is made off limits.

They could send you to prison too but that takes time and fines can be assessed by state, county, and federal officials based almost entirely on suspicious activity / digital records.

Edit to add:

Banks exchange currencies / assets via the central banks and their policies.

If The Fed refuses to exchange in certain assets or currencies that can become nation policy overnight including for card companies, private banks, and digital asset companies.
 
America 1st said:
This simply isn't true and we both know it. They can make paying in humans, drugs, Bitcoin, or pretty much anything illegal.

They don't have to "stop" you per se once they starting fining you 250k per transaction in whatever product / asset is made off limits.

They could send you to prison too but that takes time and fines can be assessed by state, county, and federal officials based almost entirely on suspicious activity / digital records.

Edit to add:

Banks exchange currencies / assets via the central banks and their policies.

If The Fed refuses to exchange in certain assets or currencies that can become nation policy overnight including for card companies, private banks, and digital asset companies.
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You're moving the goal post here. We already agreed that this was short of making it illegal.

muddytumbo said:
Like the only way they could stop you from trading with bitcoin is to make it illegal otherwise I can just walk up and trade with whatever I want.
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America 1st said:
Not true at all.
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The FED already doesn't accept bitcoin or socks for that matter so your edit is a moot point.
 
muddytumbo said:
You're moving the goal post here. We already agreed that this was short of making it illegal.





The FED already doesn't accept bitcoin so your edit is a moot point.
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The Fed currently accepts Bitcoin as a digital asset regulated by SEC.

I didn't agree to anything about making it illegal and it doesn't need to be made illegal for The Fed to issue a mandate or action halting transactions in something.

I'm not going to "debate" someone who believes they have a right to make transactions in anything they want (since that comment alone exposes the fact that you have no clue what you're talking about).
 
America 1st said:
The Fed currently accepts Bitcoin as a digital asset regulated by SEC.

I didn't agree to anything about making it illegal and it doesn't need to be made illegal for The Fed to issue a mandate or action halting transactions in something.

I'm not going to "debate" someone who believes they have a right to make transactions in anything they want (since that comment alone exposes the fact that you have no clue what you're talking about).
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Okay you're just a troll who's wasting my time.
 
America 1st said:
The Fed currently accepts Bitcoin as a digital asset regulated by SEC.

I didn't agree to anything about making it illegal and it doesn't need to be made illegal for The Fed to issue a mandate or action halting transactions in something.

I'm not going to "debate" someone who believes they have a right to make transactions in anything they want (since that comment alone exposes the fact that you have no clue what you're talking about).
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when you refer to the fed, do you mean federal reserve? I am sure they won’t accept bitcoin for overnight repos or any other bank interaction.

now the federal government or sec has regulated bitcoin and crypto currencies as a asset similar to art work, etc. as you stated. this is why if you keep it for over a year then sell, it’s a 15% capital gains.

As far as the right to make transactions, it probably could be regulated like you say, but so could bartering. If I have 10000 screws and you have 10000 nails. You need nails and I need screws so we just trade. This is illegal since we didn’t pay taxes, etc.

So otoh I thought anyone could create a currency.. this is why the federal reserve was created back in the day since different parts of the country had banks using their own currency?
 
Zgdaf said:
when you refer to the fed, do you mean federal reserve? I am sure they won’t accept bitcoin for overnight repos or any other bank interaction.

now the federal government or sec has regulated bitcoin and crypto currencies as a asset similar to art work, etc. as you stated. this is why if you keep it for over a year then sell, it’s a 15% capital gains.

As far as the right to make transactions, it probably could be regulated like you say, but so could bartering. If I have 10000 screws and you have 10000 nails. You need nails and I need screws so we just trade. This is illegal since we didn’t pay taxes, etc.

So otoh I thought anyone could create a currency.. this is why the federal reserve was created back in the day since different parts of the country had banks using their own currency?
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Correct

I was speaking colloquially that The Fed isn't discouraging cryptos currently.

Only The Fed creates currency and is allowed to. Cryptos might be called currencies but they are just commodities like art, screws, nails, ect.
 
Seems to be a big transition coming in the crypto world from Proof of Work (high power computers solving endless complex mathematical computations) to Proof of Stake which is built around establishing are reliable validation node (the validation node being somewhat of a standard server)

How is this going to change the crypto world going forward? If we can get some convo going hopefully I can expand my thoughts - I'm just trying to learn because it seems important to understand this to be invested in the crypto world going forward
 
Croot_Overlord said:
Seems to be a big transition coming in the crypto world from Proof of Work (high power computers solving endless complex mathematical computations) to Proof of Stake which is built around establishing are reliable validation node (the validation node being somewhat of a standard server)

How is this going to change the crypto world going forward? If we can get some convo going hopefully I can expand my thoughts - I'm just trying to learn because it seems important to understand this to be invested in the crypto world going forward
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I feel like you are just making this shit up to sound smart
 
Croot, you all should set up a proof of stake etherum, Avax , cardano, etc.server pool we can all join.

As far as proof of work, BTC will never switch since this is the only decentralized system where no one controls it. It represents peace. I say never because it would take to much to get a consensus to change, and the lighting network runs on top of btc that gives features such as speed, reduced costs, and smart contracts.

I am sure americafirst is having a coronary right now because he backs Biden’s approach to cryptos.
 
Zgdaf said:
Croot, you all should set up a proof of stake etherum, Avax , cardano, etc.server pool we can all join.

As far as proof of work, BTC will never switch since this is the only decentralized system where no one controls it. It represents peace. I say never because it would take to much to get a consensus to change, and the lighting network runs on top of btc that gives features such as speed, reduced costs, and smart contracts.

I am sure americafirst is having a coronary right now because he backs Biden’s approach to cryptos.
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Learning about this stuff rapidly. Thanks for the feedback and we are going to start working on this.

I've been looking into Cardano and we might try and get that one up first
 
Zgdaf said:
Croot, you all should set up a proof of stake etherum, Avax , cardano, etc.server pool we can all join.

As far as proof of work, BTC will never switch since this is the only decentralized system where no one controls it. It represents peace. I say never because it would take to much to get a consensus to change, and the lighting network runs on top of btc that gives features such as speed, reduced costs, and smart contracts.

I am sure americafirst is having a coronary right now because he backs Biden’s approach to cryptos.
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It represents peace. Amen to that! I do think it aligns with a lot of values that us on The Free Speech Forum hold.
 
Zgdaf said:
Croot, you all should set up a proof of stake etherum, Avax , cardano, etc.server pool we can all join.

As far as proof of work, BTC will never switch since this is the only decentralized system where no one controls it. It represents peace. I say never because it would take to much to get a consensus to change, and the lighting network runs on top of btc that gives features such as speed, reduced costs, and smart contracts.

I am sure americafirst is having a coronary right now because he backs Biden’s approach to cryptos.
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Whats the deal with Avax. Haven't heard of that one yet, what is its claim to fame?
 

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