Crypto Megathread V16 - Only The Strong Survive

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Rob Battisti said:
It will F it all. As of right now, the senate passed language that would F it all.
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Really though how badly would it affect crypto, I mean that's just one country albeit a large and rich one but imo crypto survives outside of the US.
 
Rygu said:
Really though how badly would it affect crypto, I mean that's just one country albeit a large and rich one but imo crypto survives outside of the US.
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Basically shuts down every Avenue for Americans to be in crypto. It would tank it down 90% at least in my estimation. You talk about FUD? That’s real FUD
 
Rygu said:
Still wouldn't sell my BTC though and I'd still be buying it.
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I mean, if it dropped, I’d buy BTC and ETH. But nothing else. I know it sounds dramatic, but this is an actual risk to everything.
 
Rob Battisti said:
I mean, if it dropped, I’d buy BTC and ETH. But nothing else. I know it sounds dramatic, but this is an actual risk to everything.
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No I agree BTC/Eth is it for me too if this actually happens. Even Eth I'd be weary. But BTC is here to stay imo no matter how far it drops down. For all we know that could be what they want...for it to tank, for everyone to sell so the ones with insider knowledge can scoop it all up.

I'm in BTC till it goes to 0.
 
Rob Battisti said:
Impossible to say until the amendment gets killed or passed. If it gets killed, it absolutely DESTROYS crypto.
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OIP.Rer7H-6VptpiITfmi0UGNwHaHa
 
Rob Battisti said:
I mean, if it dropped, I’d buy BTC and ETH. But nothing else. I know it sounds dramatic, but this is an actual risk to everything.
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Yeah, if it humps the bunk, I'm going all-in on ETH and BTC. I'll dump everything except my Link, VET, and API3, then roll it into those two. But that's just me and I'm thinking years and not months.
 
Strychnine said:
Yeah, if it humps the bunk, I'm going all-in on ETH and BTC. I'll dump everything except my Link, VET, and API3, then roll it into those two. But that's just me and I'm thinking years and not months.
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If you are here to play the long game, a market crash now isn’t the worst thing. If the USA crushed state side crypto, it would force it overseas. That would eventually show our politicians they lost a cash cow and they would eventually change legislation to bring it back.

Think like a whale.
 
Rob Battisti said:
If you are here to play the long game, a market crash now isn’t the worst thing. If the USA crushed state side crypto, it would force it overseas. That would eventually show our politicians they lost a cash cow and they would eventually change legislation to bring it back.

Think like a whale.
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<mma4>

My man! :)
 
And as if we needed any more good news, the API3 Alliance is here:

https://in.finance.yahoo.com/news/api3-alliance-empowers-125-api-130000361.html

"The API3 Alliance represents a strategic coalition of API providers who believe that they should be able to share the same data and services they currently offer to web applications directly to Web3 consumers, without having to rely on third-party middlemen (aka Link etc)...
API3 offers the tools and individualized support to this growing community — already more than 125 API providers — to go direct to the consumers of their APIs on Web3."

The largest association of API providers on WEB 3.0

https://api3.org/alliance

Damn, I got a lot of API3 when it was at the bottom and now I wish I had bought more.
 
Rob Battisti said:
That’s where you’re wrong, pal!
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In what regard? You mean my 'regardless of any bills' comment?

Of course, certain bills could kill it, but there's enough backing from powerful folks that it's highly unlikely any bills of that sort would pass.
 
dirtypablo said:
In what regard? You mean my 'regardless of any bills' comment?

Of course, certain bills could kill it, but there's enough backing from powerful folks that it's highly unlikely any bills of that sort would pass.
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The legislation, as it is written right now, would completely kill crypto in the US. It’s not hyperbole. I believe it will get amended, but the current form is a death sentence.

The scary part is, Yellen supports the current language.
 
Binance tells me I need to do KYC by Aug 17 or withdrawals will be limited to 0.06 BTC.

Everyone else get that warning?

That suck hairy balls.

Edit: OK I put in my name and address and they say I have 2BTC daily limit, I'll see if that changes on Aug 17... there's no messages on the website about limits changing.
 
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Rob Battisti said:
The legislation, as it is written right now, would completely kill crypto in the US. It’s not hyperbole. I believe it will get amended, but the current form is a death sentence.

The scary part is, Yellen supports the current language.
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It's going to have to be amended. Like I said, the wording is too ambiguous right now. It's not even feasible for miners, validators, defi exchanges to collect taxes. From Fortune.com

None of these entities could comply with this law. Consider three types of players: miners, validators, and decentralized exchanges.

Miners verify transactions via a proof-of-work method, which requires them to donate computing power. In exchange, they may receive cryptocurrency. But they have nothing to do with onboarding buyers and sellers; they hold no data on the identities of participants.


Validators use a different method of confirming transactions, called proof of stake, where parties anonymously stake some of their assets to keep the network running. The more they stake, the more transactions they can validate. But like miners, they have no means of screening the identities of participants.

As for exchanges, traditional crypto brokers and exchanges such as Coinbase and Gemini should comply with new laws approved by Congress. But increasingly, exchanges are fully distributed. There is no central authority to identify and report on individual transactions on the network. Rather, a combination of mathematics, cryptography, and clever computer code perform all the functions of a financial intermediary, but in a transparent, decentralized, and highly auditable manner.
 
What does the language actually change / impact? Haven’t particularly paid attention
 
@TeTe , you been having words about ada again? :)

Someone must've because it just got a kick up the the ass again lol
 
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