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Can crypto be stopped by a government?

Discussion in 'The Kruse Longevity Center' started by Jack Kruse, Apr 3, 2021.

  1. JanSz

    JanSz Gold

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  2. Jack Kruse

    Jack Kruse Administrator

  3. Jack Kruse

    Jack Kruse Administrator

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  4. Jack Kruse

    Jack Kruse Administrator

  5. Jack Kruse

    Jack Kruse Administrator

  6. It's interesting - Gary Gensler, Chair of the Securities and Exchange Commission stated,
    "Make no mistake: It doesn’t matter whether it’s a stock token, a stable value token backed by securities, or any other virtual product that provides synthetic exposure to underlying securities. These platforms — whether in the decentralized or centralized finance space — are implicated by the securities laws and must work within our securities regime."
     
    JanSz likes this.
  7. Jack Kruse

    Jack Kruse Administrator

    My latest crypto podcast about the coming regulation of exchanges and #stablecoins with me & @DKryptonite1 and the Celcius crew. Have a listen and tell me what you think.
     
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  8. ND Hauf

    ND Hauf Pleb

    Love to hear the appreciation for all the hard work my Wyoming ladies have been putting in. People don't realize how far out in front Long is. I'd love to see Avanti be the first to support a stable coin. Well put Jack....the worlds are colliding analogy of the Milky Way!
     
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  9. Jack Kruse

    Jack Kruse Administrator

    Riddle me this logic: If Delta is so preternaturally transmissible that it can escape vaccine, is there reason to think it would not escape mask?

    Isn’t the latest CDC guidance like adding a bandaid to a bulletproof vest—just in case a bullet is strong enough to get past the vest. Every hour we go forward it is clear this is an economic reset, not a biological problem. In other words, even indulging the most optimistic case for masking: is there really a plausible scenario in which Delta gets through vaccine but not an old shirt repurposed as a “face covering”?
     
  10. Here's what I got ->

    Derek said, USDC and Tether are combined over $100 billion which could have a systemic risk.

    Jack says, This systemic risk to the Fed and banking industry is huge. If there were a credit risk from China that affected the bond market you would only have to move a couple of billion dollars in Stable Coins to destabilize the entire banking industry.

    Wyoming needs the Fed to regulate all stable coins as a special purpose depository institutional model. Once it’s been reclassified, then the Wall Street banks can interact with it. The Fed could require stable coins to be issued through FDIC insured banks and require backed one for one with treasuries that are held to reserves at the Central Bank level. However, what the Fed will try to do is create its own central bank digital currency. But, Jack thinks USDC or Gemini US dollar may be used by the Fed for their central bank digital currency.

    Jack says, I don’t want to hold any central bank digital coin – at all.

    Ten Stablecoin Predictions by Caitlin Long <- maybe a bit optimistic. https://www.cato.org/cato-journal/s...redictions-their-monetary-policy-implications

    I think Wyoming is showing the way ->
     
    Last edited: Jul 28, 2021
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  11. Jack Kruse

    Jack Kruse Administrator

    Keys & cheese is not just a BTC story

    When the Federal government needs a dollar, they go to the Federal Reserve who is controlled by the DTCC. These funds are loaned by the Federal Reserve who is Private. And your taxes pay the interest on these loans. Not the principle. That isn’t serviced at all.

    Out of all the stock you own, how many genuine stock ownership certificates do you have in your personal possession? If you don't own your paper in a fiat regime you don't own your cheese when the house of cards falls at the DTCC. Before DTC and NSCC were formed, brokers physically exchanged certificates, employing hundreds of messengers to carry certificates and checks. Bill T. Dentzer Jr., formed the DTCC and he was a former US public official and intelligence community member. The intelligence community is directly linked to a financial arm that “records all financial settlements” in the USA.
     
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  12. Jack Kruse

    Jack Kruse Administrator

    The politicians may have put Gensler in charge of the SEC but they are doing all they can to support the Fed and bankers. Did you see this?
    The new bipartisan infrastructure bill in the Senate includes new reporting obligations for #bitcoin and cryptocurrencies. Please call your Senator regarding the infrastructure bill. US Senate switchboard: (202) 224-3121. You can use the language below

    I'm a constituent in your district and a supporter of you. The current draft infrastructure bill includes language that is detrimental to me as well as millions of Americans and businesses that buy, hold, sell and transact in bitcoin and other cryptocurrencies. The category of persons who would be obligated to report is so broad that it potentially covers persons who only provide software or hardware to customers and who have no visibility whatsoever into users’ transactions. Please remove/modify the current language regarding bitcoin and other cryptocurrencies. Thank you

    [​IMG]
     
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  13. Jack Kruse

    Jack Kruse Administrator

  14. The language as structured would mean that miners would fall under the definition of "broker" and therefore be forced to collect personal information of the individuals who broadcasted the transactions included in the blocks they mine. Since this is literally impossible, it means that if this bill is passed with this section included it would essentially outlaw mining in the US overnight due to the inability of miners to comply.

    Question: With the valuation of over $100 billion in StableCoin, can the United States afford to loose that market value?
     
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  15. Jack Kruse

    Jack Kruse Administrator

  16. Jack Kruse

    Jack Kruse Administrator

    They are trying to shut ETH down.
    Wow. Bad news if you own Ether. I warned about this risk in the early BTC series. Sen. Warner and Portman are proposing a last minute amendment competing with the Wyden-Lummis-Toomey amendment. It is disastrous. It only excludes proof-of-work mining. And it does nothing for software devs. Here is all it excludes:
    [​IMG]

    If this passes this is the U.S. Congress picking winners and losers in crypto land.
     
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  17. Last edited: Aug 20, 2021
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  18. Jack Kruse

    Jack Kruse Administrator

    The government derives their consent to govern from “We The People”.

    We are owed transparency by our government as it is our taxpayer dollars that fund it.

    There is nothing controversial about demanding answers from your government.
     
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  19. Jack Kruse

    Jack Kruse Administrator

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  20. JanSz

    JanSz Gold

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