Crypto is dead. Until it gets regulated.

[MrMuppet]

https://www.brookings.edu/techstrea...cing-u-s-crypto-regulations-bitcoin-ethereum/


https://www.forbes.com/advisor/investing/sec-crypto-regulation/


https://bitcoinmagazine.com/legal/regulation-is-coming-bitcoin-will-benefit


https://www.nerdwallet.com/article/investing/crypto-regulation


https://www.cognyte.com/blog/5-reasons-why-criminals-are-turning-to-cryptocurrencies/



https://www.redbull.com/se-en/theredbulletin/bitcoin-currency-of-criminals

We had this discussion over and over and over. So are Eurodollars, a dollar that is created and traded outside of the FEDs reach the currency of criminals, too?

There is less criminal activity in crypto (abt. 1% of mcap) compared to the USD (abt. 5% of mcap). Regulation is not the issue of crypto, neither are illicit transactions. The current big boy blow up has happened in TradFi for ages, just that there isn't a lender of last resort that bails out the foul apples.

Let the market clean itself as it is supposed to do. Crypto is the last free market where bad decisions are punished and idiots are taken to the slaughterhouse. Otherwise it's just another government casino where you can pay to play and your upsies are forgiven by the FED and you get another stab at other peoples money to lever up to the tits

 

[Frederick Foresight]

There is less criminal activity in crypto (abt. 1% of mcap) compared to the USD (abt. 5% of mcap).

Source?

 

[Pekelo]

Crypto is the last free market where bad decisions are punished and idiots are taken to the slaughterhouse.

How is that different from the stock market or gambling? You wrote a lot and said nothing.

The bullshit what cryptofans spread is thick...

 

[MrMuppet]

Source?

https://blog.chainalysis.com/reports/2022-crypto-crime-report-introduction/

https://bitcoinist.com/the-dollar-far-outstrips-cryptocurrency-in-illicit-activity-spending/

 

[murray t turtle]

A very sober assessment.
I agree.

I saw Carl Icahn interviewed on Crypto.
He just said "I don't understand it".
That was the understatement from an MVP pro.

%%
I do;
but Carl Ichan is such a good trader/investor, he prefers not to be as blunt as W Buffet= ''rat poison'' Not all have to agree, Mr C Munger says'' part delusion+ part..... i forgot the other bad part\sorry
Should not be regulated , we have enough gov.
But i prefer positive + humor some;
WSJ noted SB Fried, dufus savant gets waaaaaaaaay in over his head + ooops loses billions LOLAnd WSJ noted a good criminal case against SBFried.

 

[guest_trader_1]

Looking at the regulation in the US and Europe, cryptocurrencies are actually regulated in the sense that is a digital asset and are treated like that in order to pay capital gain taxes, but... and that is the "big but" cryptos are not protected by any government.

Your loses may offset your taxes if they are reported right, pretty much like any other digital investment.
But if a wanker like SBF runs away with your shitty tokens, you are on your own. So the basic rule is that any government care about what is translated into their national currency, the official one they control.

That "regulation" is pretty much as basic as:
1. Did you make any gain in our national currency? -> pay us
2. Did you lose with your investments in our national currency -> we'll make it a hell for you to claim that
3. Do you have unrealised investments in any digital asset? Fuck you

 

[The_Krakenite]

-crazy to buy Luna.

I avoided Luna, for one, it was a target. And sure enough, SBF was behind the run on Luna. If he didn't do it, someone else (or some other event) may have caused it just the same.

In any case, seems SBF didn't realize how much devastation the Luna hit was going to cause. He kinda got himself sucked into the black-hole which he created. We can blame CZ, but if you look before that event, SBF's attack on Luna started the whole chain process. Then all it took was CZ to lean on him a bit.

 

[guest_trader_1]

I avoided Luna, for one, it was a target. And sure enough, SBF was behind the run on Luna. If he didn't do it, someone else (or some other event) may have caused it just the same.

In any case, seems SBF didn't realize how much devastation the Luna hit was going to cause. He kinda got himself sucked into the black-hole which he created. We can blame CZ, but if you look before that event, SBF's attack on Luna started the whole chain process. Then all it took was CZ to lean on him a bit.

That's why we have these rules in place:

https://www.esma.europa.eu/regulation/trading/short-selling

https://www.reuters.com/article/us-sec-shortselling-history-idUSN1641520620080716

"1609 - The Dutch East India Co protests to the Amsterdam Exchange after short sellers make enormous profits on its stock. That leads to the first ever regulations on shorting in the following year"

2022 and we are suddenly back to 1600, still people say that crypto exchanges are safe to trade

 

[TheDawn]

We had this discussion over and over and over. So are Eurodollars, a dollar that is created and traded outside of the FEDs reach the currency of criminals, too?

There is less criminal activity in crypto (abt. 1% of mcap) compared to the USD (abt. 5% of mcap). Regulation is not the issue of crypto, neither are illicit transactions. The current big boy blow up has happened in TradFi for ages, just that there isn't a lender of last resort that bails out the foul apples.

The only reason why there is less criminal activities in crypto is because crypto is not widely used all around the world yet and is even banned in some countries. The reason why there is more criminal activity in the USD is that USD is the reserve currency used all around the world. Once crytpo's reaches "reserve currency" status like the USD, it will have all the criminal activity. It's ironic that one of the strongest selling points of crypto aka giving it value is its anonymity; its supposed freedom from the control of the government for its owners and yet in order for it to survive, it actually needs the government's control. LOL

Let the market clean itself as it is supposed to do. Crypto is the last free market where bad decisions are punished and idiots are taken to the slaughterhouse. Otherwise it's just another government casino where you can pay to play and your upsies are forgiven by the FED and you get another stab at other peoples money to lever up to the tits

I don't mind having people duking it out to reveal the true value of the crypto but you need to make sure the duking out is carried out in a secure environment. It cannot be carried out in environments where there is no guarantee of the safety of capital that people use to duke it out can just disappear overnight because the owner of the crypto exchange, the place where people duke it out absconded with the password to the vault where people put all their money in and they are the only one who knows the password and has access to the vault. This is where the government needs to step in with the regulations, to provide the security of the arena, sorta speak. The government casino where we play our stocks and options at least has safety measures put in place to ensure the safety and security of our funds.

 

[MrMuppet]

The only reason why there is less criminal activities in crypto is because crypto is not widely used all around the world yet and is even banned in some countries. The reason why there is more criminal activity in the USD is that USD is the reserve currency used all around the world. Once crytpo's reaches "reserve currency" status like the USD, it will have all the criminal activity. It's ironic that one of the strongest selling points of crypto aka giving it value is its anonymity; its supposed freedom from the control of the government for its owners and yet in order for it to survive, it actually needs the government's control. LOL



I don't mind having people duking it out to reveal the true value of the crypto but you need to make sure the duking out is carried out in a secure environment. It cannot be carried out in environments where there is no guarantee of the safety of capital that people use to duke it out can just disappear overnight because the owner of the crypto exchange, the place where people duke it out absconded with the password to the vault where people put all their money in and they are the only one who knows the password and has access to the vault. This is where the government needs to step in with the regulations, to provide the security of the arena, sorta speak. The government casino where we play our stocks and options at least has safety measures put in place to ensure the safety and security of our funds.

Refco, Man Financial, GNI, Lehman, AIG, FXCM... Do these blow ups ring a bell?