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I have Uncle Intel On CRYTPO

 
Anonymous Coward
User ID: 12306812
United States
02/23/2021 05:27 AM
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Re: I have Uncle Intel On CRYTPO
In fact, the crypto market just took a huge dump this morning.

It was the second highest amount of liquidations in one day in crypto history.

Sounds to me like a lot of the big boys know something
 Quoting: Secretizer


It's the whales cleaning out all the weak hands doing margin trading. People leeching off whales with 25x-100x leverage irritates them.

A lot of you are forgetting that real world inflation has been around 10% a year recently, and is going to 20% soon from all the money printing.

The dollar could do a Zimbabwe hyper-inflation move.

Bitcoin is better than the $

Cant be counterfeited
Incredibly difficult to hack
Very difficult to confiscate
Requires no power to Hodl
No central bank
permanently limited supply

Gotta say that sounds better than the $
Anonymous Coward
User ID: 77287674
Canada
02/23/2021 08:01 AM
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Re: I have Uncle Intel On CRYTPO
In fact, the crypto market just took a huge dump this morning.

It was the second highest amount of liquidations in one day in crypto history.

Sounds to me like a lot of the big boys know something
 Quoting: Secretizer


To me it seemed like an emotional reaction to talks in India. There has been publicly about the government trying to outlaw bitcoin

Ironically it escalated demand in India when word got out
 Quoting: Anonymous Coward 77287674


Did not hear about the India angle.

Do you have a link?
 Quoting: Secretizer


[link to m.economictimes.com (secure)]
Anonymous Coward
User ID: 77287674
Canada
02/23/2021 08:04 AM
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Re: I have Uncle Intel On CRYTPO
In fact, the crypto market just took a huge dump this morning.

It was the second highest amount of liquidations in one day in crypto history.

Sounds to me like a lot of the big boys know something
 Quoting: Secretizer


To me it seemed like an emotional reaction to talks in India. There has been publicly about the government trying to outlaw bitcoin

Ironically it escalated demand in India when word got out
 Quoting: Anonymous Coward 77287674


Did not hear about the India angle.

Do you have a link?
 Quoting: Secretizer


[link to m.economictimes.com (secure)]
 Quoting: Anonymous Coward 77287674


Another

[link to www.cnbc.com (secure)]

I believe this is the reason behind the big dump last night
Anonymous Coward
User ID: 71953425
United States
02/23/2021 09:01 AM
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Re: I have Uncle Intel On CRYTPO
How come you guys never DYOR. This wont work. DeFi.
Anonymous Coward
User ID: 77287674
Canada
02/23/2021 09:20 AM
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Re: I have Uncle Intel On CRYTPO
How come you guys never DYOR. This wont work. DeFi.
 Quoting: Anonymous Coward 71953425


Every morning I pull up a search engine and look at news for keyword CRYPTO

You have to do it that way because MSM ignores it. Absolutely DYOR

hf
Anonymous Coward
User ID: 72222427
United Kingdom
02/23/2021 12:32 PM
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Re: I have Uncle Intel On CRYTPO
Buddy just called me from DC. He works for a compliance firm that is also fairly big in the world of financial legislation and lobbying. This guy is sharp. An MBA, numerous licenses. I trust him and we have been friends over 20 years. If he is ever allowed to talk about something, we talk. We talked this am about crypto.

Here is the rumors going around of some new regulations set to hit within the coming months:

1)Crypto Currency will be regulated by current amendable banking regulations. It won't be a control move at the exchanges themselves but rather the on and off ramps of those.

2)Any business wishing to have a SWIFT bank account will be required to instantly settle any and all crypto transactions PRE CLOSE for any transaction over $500.00. Basically meaning, if you want to buy something from me with bitcoin, I have to upon receipt instantly settle that in USD. This will essentially make crypto a more cumbersome payment system. Not an easier one. Also does not allow a business to stockpile crypto. Sure they can re buy it after the convert to USD. But then additional fees etc. We will get to that.

3)No anonymous transactions. Any item / transaction with crypto will require ID verification. They are talking literally scanned drivers licenses etc. For all transactions. Think about the headache. Failure to do so by either party will be met with steep fines, prison, etc.

4)There will be a transactional tax implanted of x percent on all crypto transactions due quarterly to the IRS. If you take 100k in crypto you will owe X percent to the IRS as a business quarterly. On top of and in addition to normal quarterly estimated taxes etc. Its unclear whether its DUE at the quarter or will be an estimated tax and then a final settlement at year end. This means most businesses instantly make LESS when selling something for BTC/Crypto.

5)Per transaction trading fees of x% on all crypto trades in addition to normal standard capital gains taxes. The rates are being discussed are 2-3%. Making scalping crypto nearly an impossible trading process.

6)This will initially be done with current regulations being amended but talk of an all inclusive new bill. Think something like the Patriot Act 2.0. Heavy fines, prison time, and penalties. The goal is to make it very difficult and cumbersome for any legitimate business to wish to do business in crypto currencies and for any trader of them to have a very hard time.

This is the basic gist of what we discussed. Basically legislators know the technology is too democratic to all out make illegal crypto, but the new regs are designed to make using crypto in legitimate endeavors more cumbersome, complicated, expensive and dangerous.

Stay safe.
 Quoting: TrufSerumX


If the USA does that and the rest of the world dont then where would that leave the USA in 10 years, a 3rd world country. The USA is only a small % of the worlds crypto trade, now if the USA, Europe and China did it then that would mark the end of it.
Trio

User ID: 79955468
Canada
02/23/2021 01:59 PM
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Re: I have Uncle Intel On CRYTPO
It would be foolish to discount the historical transfer of wealth that is going on. The powers that be are taking more power than ever. I would not be surprised if crypto is squashed as part of their domination plans. Unless of course they are behind it.

The 'reset' they are attempting most likely has some form of global digital currency planned.. but its most likely not something decentralized. The digital currency would be their end game and the method to create a one world system.

They will have to crush the crypto market to get there.. and well just look at what they have done to the constitution so far. The land of the free is no longer free.. so the freedom people think they get with crypto may not be as free as it seems.
GLP EFFECT = Saving the world one thread at a time.

Life's only consistency is change.
Anonymous Coward
User ID: 75058461
United States
02/23/2021 02:09 PM
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Re: I have Uncle Intel On CRYTPO
Not going to happen.

They'll try. But its the end for fiat and no amount of deck-chair-rearranging is going to change that.
 Quoting: Anonymous Coward 80076762


bitcoin is fiat.
 Quoting: mr dull socks


rere23
Anonymous Coward
User ID: 76374405
Australia
02/25/2021 04:40 AM
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Re: I have Uncle Intel On CRYTPO
Buddy just called me from DC. He works for a compliance firm that is also fairly big in the world of financial legislation and lobbying. This guy is sharp. An MBA, numerous licenses. I trust him and we have been friends over 20 years. If he is ever allowed to talk about something, we talk. We talked this am about crypto.

Here is the rumors going around of some new regulations set to hit within the coming months:

1)Crypto Currency will be regulated by current amendable banking regulations. It won't be a control move at the exchanges themselves but rather the on and off ramps of those.

2)Any business wishing to have a SWIFT bank account will be required to instantly settle any and all crypto transactions PRE CLOSE for any transaction over $500.00. Basically meaning, if you want to buy something from me with bitcoin, I have to upon receipt instantly settle that in USD. This will essentially make crypto a more cumbersome payment system. Not an easier one. Also does not allow a business to stockpile crypto. Sure they can re buy it after the convert to USD. But then additional fees etc. We will get to that.

3)No anonymous transactions. Any item / transaction with crypto will require ID verification. They are talking literally scanned drivers licenses etc. For all transactions. Think about the headache. Failure to do so by either party will be met with steep fines, prison, etc.

4)There will be a transactional tax implanted of x percent on all crypto transactions due quarterly to the IRS. If you take 100k in crypto you will owe X percent to the IRS as a business quarterly. On top of and in addition to normal quarterly estimated taxes etc. Its unclear whether its DUE at the quarter or will be an estimated tax and then a final settlement at year end. This means most businesses instantly make LESS when selling something for BTC/Crypto.

5)Per transaction trading fees of x% on all crypto trades in addition to normal standard capital gains taxes. The rates are being discussed are 2-3%. Making scalping crypto nearly an impossible trading process.

6)This will initially be done with current regulations being amended but talk of an all inclusive new bill. Think something like the Patriot Act 2.0. Heavy fines, prison time, and penalties. The goal is to make it very difficult and cumbersome for any legitimate business to wish to do business in crypto currencies and for any trader of them to have a very hard time.

This is the basic gist of what we discussed. Basically legislators know the technology is too democratic to all out make illegal crypto, but the new regs are designed to make using crypto in legitimate endeavors more cumbersome, complicated, expensive and dangerous.

Stay safe.
 Quoting: TrufSerumX



All that sounds pretty reasonable, and most likely.

Thanks for sharing it.







.





GLP