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The BTC thread: When you need some answers, love, advice, or friendship......come here.

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

  1. caroline

    caroline Moderator

    I love listening and learning....
    GavinH likes this.
  2. 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 ->
    GavinH likes this.
  3. JanSz

    JanSz Gold

    I am thinking of 5-7 you are saying 3-5.
    Overall it is about a major decission point about how much I can spend (on average) during a year (over the next 5-7 years).
    For me, each decision point is when BTC reaches next an all-time high.
    At that point, I plan on replenishing my pool of spending money for the next 5-7 years.
    During the period of BTC going up, I may make my adjustments every few weeks (not years).
    How I am going to replenish my pool of spending money, I am still not sure.
    My spending cash is in a checking account in the bank.
    It may get interesting when banks start closing out.
    Wonder if instead of a checking account at the bank it may not be better to use a checking account at my broker (Schwab)?

    Jack says to borrow against Picasso or take a low-interest loan against your home or other real estates.

    That is nice to say, some decades ago, with a major purchase I took a loan against my home.
    That process took less than 2 weeks, then.
    I had to do that again last December.
    In April, almost 4 months later, they finally were ready. That was way too long, I had to dip into my cash kitty, to not miss my purchase.

    caroline, GavinH and John Schumacher like this.
  4. ND Hauf

    ND Hauf Pleb

    Anyone still holding BTC on an exchange now is the time to move to cold storage especially if you have a sizable amount. Tentatively looking at $10k + mandated reporting by exchanges. Regulation is getting shoved into infrastructure bill and is currently being hashed out. Final bill could be done as soon as this afternoon.
    Sean Waters, caroline and GavinH like this.
  5. ND Hauf

    ND Hauf Pleb

    caroline and GavinH like this.
  6. The economic impact of the global pandemic combined with the collapse of US bond prices and the widening of the credit default swap (CDS) spreads in the credit markets have renewed the interest to investigate the determinants of sovereign credit risk.
    Example: https://www.mdpi.com/1911-8074/13/10/245/htm
    JanSz likes this.
  7. ND Hauf

    ND Hauf Pleb

    caroline and GavinH like this.
  8. Jack Kruse

    Jack Kruse Administrator

  9. 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?
    GavinH and JanSz like this.
  10. ND Hauf

    ND Hauf Pleb

    Reminder/Link for anyone interested in the Fold Card. I was skeptical if this would really payoff. It has resulted in hundreds of thousands of free SATs as rewards. Note I've been able to easily transfer to cold storage after 50K are accumulated and holding period elapses.

    Last edited: Jul 31, 2021
  11. ND Hauf

    ND Hauf Pleb

  12. Jack Kruse

    Jack Kruse Administrator

    Reward halvings are important economic functions and market signals for Bitcoin The Head of Research
    Greg Cipolaro from NYDIG
    shares his analysis on these events in our latest research update. Read the full report here: https://bit.ly/3A5bho6
    GavinH and ND Hauf like this.
  13. ND Hauf

    ND Hauf Pleb

    John Schumacher and GavinH like this.
  14. ND Hauf

    ND Hauf Pleb

    "A Fool and Their Leveraged BTC Are Soon Parted" C. Long @Avanti
    caroline and GavinH like this.
  15. GavinH

    GavinH Gavin Horner

  16. ND Hauf

    ND Hauf Pleb

    Elections Have Consequences…..

    If you live in a state that has representation on the Senate or House Transpiration and Infrastructure Committees get on it..
    John Schumacher likes this.
  17. caroline

    caroline Moderator

    There is so much here to take on board....
    I like the principle/concept of zooming out and taking charge of the things that we can.
    GavinH likes this.
  18. Jack Kruse

    Jack Kruse Administrator


    I won’t ever sell my bitcoins because I can’t morally justify paying half of my gains to this government in taxes

    Plan is to out-hodl the IRS
  19. ND Hauf

    ND Hauf Pleb

    At what point do we need an organized effort to fight back or is that a centralized approach to a decentralized gift...?
    Sean Waters and Christine Renner like this.

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