LatinAggie1997 said:

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I disagree. The SEC shouldn't be anywhere near digital assets. I would much rather crypto fall under the CFTC if a new regulatory body isn't formed.

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It sure would be nice if issuers of certain publicly traded offerings could exempt themselves from decades of precedent and pick their regulator.

Unfortunately, judicial interpretation is trending in the direction that objective observers have predicted all along: most PoS alts pass the Howey Test and therefore are securities.

I'm still unsure why that's a bad thing though.

Part of me thinks that many people were initially lured into crypto by the idea that it's different because it's tokenized, makes claims of decentralization, etc. So those who ended up funneling into alts are super resistant and get defensive about being lumped in with status quo businesses as securities.

I think there's also a mistake in assuming that what PoS alt chains are doing is somehow too difficult for the SEC understand and that they'd would only get in the way of transforming the world. But I don't think that's true at all.

First, Gary Gensler would run laps around most alt bros in terms of knowledge of the space. Secondly, defi apps, staking mechanisms and NFT communities isn't exactly transformational concepts.

That's not to say something transformational can't ultimately come from a PoS alt chain. I just think it can still happen under the SEC umbrella. The ones who embrace security designation first will have the best chance to win.

Deluxe said:

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LatinAggie1997 said:

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I disagree. The SEC shouldn't be anywhere near digital assets. I would much rather crypto fall under the CFTC if a new regulatory body isn't formed.

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It sure would be nice if issuers of certain publicly traded offerings could exempt themselves from decades of precedent and pick their regulator.

Unfortunately, judicial interpretation is trending in the direction that objective observers have predicted all along: most PoS alts pass the Howey Test and therefore are securities.

I'm still unsure why that's a bad thing though.

Part of me thinks that many people were initially lured into crypto by the idea that it's different because it's tokenized, makes claims of decentralization, etc. So those who ended up funneling into alts are super resistant and get defensive about being lumped in with status quo businesses as securities.

I think there's also a mistake in assuming that what PoS alt chains are doing is somehow too difficult for the SEC understand and that they'd would only get in the way of transforming the world. But I don't think that's true at all.

First, Gary Gensler would run laps around most alt bros in terms of knowledge of the space. Secondly, defi apps, staking mechanisms and NFT communities isn't exactly transformational concepts.

That's not to say something transformational can't ultimately come from a PoS alt chain. I just think it can still happen under the SEC umbrella. The ones who embrace security designation first will have the best chance to win.

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It sounds like you are in favor of, or at least okay with, legislating from the bench. My apologies if incorrect.
"Decades of precedent" for an asset that didn't exist prior to 2009, a transitive technology platform, under rules and tests from the 1930's?
I am not a fan of legacy banking and I am not a fan of the overreach of the SEC.

It's OK that you have your views on digital assets and how the space should grow, or be stymied, by the SEC. I simply desire a different path forward using different methods and guidelines.

I only own BTC so I look at all of this with some amusement. So it doesn't seem as if I'm being too self-righteous, BTC is a total gamble as well. It's just a better gamble than the rest of the dog**** that parades itself as legitimate.

Yeah its been time to consolidate in to BTC only for a while now. Most this crap needs to go to zero but BTC will still have purpose in the future as long as there is infinite money printing by central banks.

YouBet said:

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I only own BTC so I look at all of this with some amusement. So it doesn't seem as if I'm being too self-righteous, BTC is a total gamble as well. It's just a better gamble than the rest of the dog**** that parades itself as legitimate.

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Mostly*


You still use USD

Coinbase down and won't let me buy BTC.

LatinAggie1997 said:

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It sounds like you are in favor of, or at least okay with, legislating from the bench. My apologies if incorrect.
"Decades of precedent" for an asset that didn't exist prior to 2009, a transitive technology platform, under rules and tests from the 1930's?
I am not a fan of legacy banking and I am not a fan of the overreach of the SEC.

It's OK that you have your views on digital assets and how the space should grow, or be stymied, by the SEC. I simply desire a different path forward using different methods and guidelines.

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This is probably our difference. I do think there was one asset born in 2009 that is transformational and not covered by decades of SEC regulatory precedent. Bitcoin. But the publicly-traded tokenized blockchain enterprises that entrepreneurs built in its wake are more like a traditional SEC-governed business with a wrinkle than a commodity.

Agree to disagree though. Props for sticking up for what you think.

RIP FTX

Brian Earl Spilner said:

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Coinbase down and won't let me buy BTC.

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Just buy it on CashApp. I buy it there and then immediately move it to my wallet.

Dig deep into Cardano and Algorand.

It is plausible that in the near future BTC will be operating on one of those blockchains ( Cardano 70% likely/30% Algo).

SBF admitting an $8B hole. Binance refused to buy after doing initial due diligence. Sounds like client funds were misused.

SBF gonna get a wide butthole if he doesn't wind up dead.

Use strike. It's a referral link, we each get $5.

https://invite.strike.me/HF9GW5

Provide your evidence for this reality being plausible and explain your thought process, please.

They likely have a team of investment advisors… I find it hard to believe they pushed all in on FTX.

Pepper Brooks said:

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Provide your evidence for this reality being plausible and explain your thought process, please.

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Too lengthy to get into all possible scenarios and why, so I offer an article with CH explaining a possible scenario.

Cardano team took a very specific and deliberate approach in their design, engineering, and architecture. Like the founding fathers writing the Constitution Cardano had a plan for a sound foundation, but also knew they didn't know everything, so it was made adaptable for changing times, but always with interoperability, scalability, and security at the forefront.


I think Algo is the other possibility because of the design. Sol is garbage and I've said for over a year. Eth has too many issues and will be playing catch up for too long.


https://cryptoslate.com/cardano-founder-charles-hoskinson-calls-for-an-end-to-bitcoin-mining/

BQ2001 said:

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This is all just another big reminder to get your coins off exchanges as soon as you can after buying. I have just a bit of ETC locked up staking on Coinbase and that's basically my settled balance at this point. Buy some BTC, goes right to my wallet out of their system.

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best advice ever

I only wish I knew this before I put $1700 into ETH 2 locked up on Coinbase

I am savvy enough though to have moved ALL my BTC off Coinbase into cold wallet storage a few months ago

I have a Ledger Nano-

what are my options to buy BTC other than through Coinbase? although I already have an account on Coinbase set up where I purchased the original .62 BTC

TTUArmy said:

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Gary Gensler is an institutional clown asswipe. Anyone trading/investing in the crypto space is going to have to be accredited. If everything goes according to his plan, those hodling crypto will likely be grandfathered in to sell their crypto. To buy, you'll have to meet accredited investor requirements. It sucks...

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Can you please post a link the plan you refer to?

I was just over on coinbase.

I have 2 ETH2 which I assume are staked, but they are not able to be traded. (until maybe in early 2023)

but now they are offering to "wrap" into cbETH.

this sounds like it could be yet another scam where we lose money.

anyone know how to get the ETH2 off of coinbase and back into BTC?

See my strike link above. You deposit dollars via debit card bridge or bank account through plaid. You can "pay" one of your public addresss that ledger generates and will receive Bitcoin. The fee is usually less than 10c.

Thanks for posting that. I feel confident saying that what you propose will probably never happen if this is the rationale.

Quote:

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Bitcoin's PoW is the "gold mine" Charles Hoskinson

According to Hoskinson, if Bitcoin's network is shut down, the flagship digital asset can continue to exist as wrapped Bitcoin on other networks. In his view, the industry would not need the proof-of-work consensus mechanism because it is the "gold mine" to get the asset.

Hoskinson pointed out that the Bitcoin blockchain is only optimized for the mining process presently. According to him, efforts to build on the blockchain have recorded little success because it is not designed for that purpose.

The Cardano founder highlighted that Bitcoin's "gold mine" consumes a lot of energy, considering that the number of BTC left to mine is less than what is already in circulation. He stated that the continued running of Bitcoin mining is not a good investment of energy.

Meanwhile, Hoskinson conceded that Bitcoin maximalists wouldn't agree with his idea because they would argue that "[PoW] is the source of truth and a counter-balance to banks."

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Ok, fair enough...what my gut has told me has been very accurate over the past 4 years.

Let's see how many of my predictions come true moving forward. Most were made on here a year to 2 years ago iirc.

Lots of people believed in Sol and that ETH 2.0 was going to be a game changer (hasn't even been fully deployed and won't for two more years).
I was mocked for selling my ETH, LINK, and DOT last year at their ATH. Working out for me so far.


Even though Cardano is a ghost chain and a stablecoin all at once.


Good luck and I don't care about being correct as long as everyone makes money.

TxAG#2011 said:

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LatinAggie1997 said:

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Dig deep into Cardano and Algorand.

It is plausible that in the near future BTC will be operating on one of those blockchains ( Cardano 70% likely/30% Algo).

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No, it's not possible. Not even 0.0001%. Even if it was the best possible option for BTC, it wouldn't happen. Laughable to even suggest it's plausible.

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That's right, because Cardano is a ghost chain created by a snake oil salesman....right???

I sold all of my ****coins (incl. SOL, LUNA, DOT, KSM, LINK, ADA, etc.) between Sept-Dec of 2021 too and made between 500-600% ROI after taxes. I also fundamentally disagree with your opinion of ADA and am now what you might call a Bitcoin maximalist.

Based on your logic, I'm just as credible as you but we have near polar opposite opinions on the future of this space.

I think we will have better discussions if we leave the dick measuring out of it. It was fishing with dynamite if you played the ****coin roulette between 2020-2021. Luck had just as much to do with the massive returns many of us saw as skill.

Agree mostly...and I knew you were a BTC maxi.

Luck had some to do wit it sure, but DD has a lot to do with it as well. I don't fomo into any token and I don't chase. That alone has helped me as much as my research on the fundamentals of an ecosystem and the subsequent DD on a token.


Good luck. We are in the same boat, however I am carry a few more bags (alts) and see some small waves on the horizon that might alter the boat..

My digimoney isn't fun anymore.

Sam has mentioned he's sorry and f'ed up. It's all good.