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Bitcoin up 3000$ today !
- Thread starter bizman
- Start date
Just as 9-11 was used ad an excuse for FATCA and COVID-19 was used as an excuse for ridiculous crypto reporting provisions in the infrastructure bill, I predict that politicians will use Ukraine invasion as an excuse to frustrate crypto markets.
Bloomberg: Lindner Says G-7, EU Officials Working on Crypto Sanctionability
This is at a time when Russia is implementing strong currency controls. So the little guy gets hampered from both directions.
I guess it's time to read the draft MICA directive. It's only 70,000 words or so...
Bloomberg: Lindner Says G-7, EU Officials Working on Crypto Sanctionability
This is at a time when Russia is implementing strong currency controls. So the little guy gets hampered from both directions.
I guess it's time to read the draft MICA directive. It's only 70,000 words or so...
I would not be surprised if banks start banning crypto activity altogether for fear for violating any future sanctions against Russia.
Which proofs its point and at least some its promises similar to gold.
My bet is there will be only sandboxed, heavily kycd activities allowed ideally just from one exchange to the next, effectively trying to create a two tiered system. Maybe the price of these two will not be identical.
That's it. You can transfer from VASP to VASP, as long as all the VASPs have strong KYC and are willing to transfer your private information to each other and the Kremlin or SEC or whatever.
They will continue to invent concepts such as "unhosted wallet". Yes, I could have a $20 bill or £20 note or €20 note or ₽500 in my wallet. So now it is an "unhosted wallet"? It used just to be a wallet.
Russia, China, USA, EU; they will all play the same game. We know what they are planning.
That is not so easy. If your assets are owned by someone else than you, you will be eventually disowned.
It is just march and we already saw a lot of examples this year.
Good bet! To a certain degree we already have that today.My bet is there will be only sandboxed, heavily kycd activities allowed ideally just from one exchange to the next, effectively trying to create a two tiered system. Maybe the price of these two will not be identical.
This sandbox would bring in more regulation and with that comes more legitimacy (optimism is vital these days).
People who are able be compliant can stay within the system and receive the 'real" price. People who can not/do not want to be compliant will have to rely on dubious buyers who pay something like half of the official price.
To a certain degree that is already a harsh reality for users of BTC cash ATM's: The price you get is vastly different from the real price, i.e. lower. I am always wondering who is using these machines ...
.I am not sure if a two-tired system is a bad scenario - it is what hapened to cash and PM a long time ago (-> not talking about grocery shopping here).
Indeed, and prominent source earned publicly Kraken CEO Warns Users to “Get Your Coins Out” of Centralized Exchanges
What he did not explain: How do you get these coins back into the system (to get a fair price and to actively use the proceeds) once you took them out?
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The Kraken CEO is right.Good bet! To a certain degree we already have that today.
This sandbox would bring in more regulation and with that comes more legitimacy (optimism is vital these days).
People who are able be compliant can stay within the system and receive the 'real" price. People who can not/do not want to be compliant will have to rely on dubious buyers who pay something like half of the official price.
To a certain degree that is already a harsh reality for users of BTC cash ATM's: The price you get is vastly different from the real price, i.e. lower. I am always wondering who is using these machines ...
I am not sure if a two-tired system is a bad scenario - it is what hapened to cash and PM a long time ago (-> not talking about grocery shopping here).
Indeed, and prominent source earned publicly Kraken CEO Warns Users to “Get Your Coins Out” of Centralized Exchanges
What he did not explain: How do you get these coins back into the system (to get a fair price and to actively use the proceeds) once you took them out?
You need to flip your analysis and the pricing is the other way around if the screws get tightened on you as you will not be able to do much with your monitored stuff expect spending it in woke coffeeshops by buying one avocado toast and a latte per month.
Not sure about that.You need to flip your analysis and the pricing is the other way around if the screws get tightened on you as you will not be able to do much with your monitored stuff expect spending it in woke coffeeshops by buying one avocado toast and a latte per month.
If your assumption is right then there is no incentive for being compliant. Do authorities want that?
The incentive is for not being market as a financial terrorist helping enemy XYZ or at best just being unpatriotic.
If the "sandbox" system is safer/more convienient and free to transact, than that price would be surely higher than anything else.
But in such a case, we would not even need something else.
Can authorities control markets? No, they cannot do that even in totalitarian states.
I hate this whole 9/11 excuse bulls**t... I support Russia getting sanctioned but for fucks sake do we have to get more EUSSR spying on us? They even are talking about getting rid of golden visa programs for ANYONE no matter what nationality...
The war might be bad for the price of Bitcoin as people suddenly flood the market and liquidate billions of dollars in Bitcoin. It has not yet happened, but many inquiries are now being made. It also appears that the UAE may soon become a target (read the story below).
https://www.newsmax.com/finance/str...=DM310158_03122022&s=acs&dkt_nbr=010102wgrcql
I was wondering about that, too. However, nothing has happened so far. On the contrary, the price of BTC is quite stable considering the circumstances.
During normal times I would agree that the UAE will become a target. However, we do not live in normal times. Today the West needs oil which means "Western democracies" will be very careful about creating artificial trouble in the UAE and GCC.
It wouldn't surprise me if the UAE suddenly vanishes from the FATF grey list without having done anything to justify such a removal
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