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Gold Up 7%, Bitcoin Down 25%; Is Bitcoin Losing Its Shine As Safe Haven Asset?

Ebie

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So what did Trudeau do a couple weeks ago?
He seized crypto wallets, all over Canada. Anyone supporting the truckers.
Please stop the bullshit about the security of cryptos. Misinformation.
Good post.
How did he seize the crypto wallets?
Did he hack the computers?
Or block them at Coinbase?
 

solarion

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He blocked send/receive addresses on exchanges.

Yes, do stop spreading mis-information. All one need do is read a paragraph.


Crypto wallets may not have personally identifiable information, but wallets hosted on a centralized exchange are linked to an identifiable user account. And transactions on the blockchain can be traced from point to point. Canadian authorities ordered a halt to transactions to more than two dozen crypto wallets.

First the tyrants get you to dox yourself to open an account...which they call Know Your Customer "laws", then the second you piss them off doing something they disagree with politically they use that information to rob you. It's not that complicated fellas. The gumbymint doesn't believe you have a right to economic freedom/privacy and they'll stop at nothing to prevent you from having it.
 

Juristic Person

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So what did Trudeau do a couple weeks ago?
He seized crypto wallets, all over Canada. Anyone supporting the truckers.
Please stop the bullshit about the security of cryptos. Misinformation.
He only seized wallets that are hosted on an exchange. Governments can regulate exchanges only - they can't regulate mining and if you hold your crypto on a usb drive that is buried in your backyard, trudeau can't take it from you.
 

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Good post.
How did he seize the crypto wallets?
Did he hack the computers?
Or block them at Coinbase?
Exactly. Governments can't put up road blocks at the on and off ramps to the exchange but they have no authority or ability to regulate a decentralized global coin or token. Don't leave your crypto on an exchange line Coinbase and you will be immune to government interference (regulation).
 

EO 11110

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not good for the crypto. the communists are at the door. this kind of crap can only hurt the demand/popularity. are the repugs ready to defend the digital gold? ron paul's competing currencies never got any traction with the repugs

U.S. Prods Crypto Exchanges to Thwart Russia-Sanctions Dodgers​

  • White House, Treasury seek to bolster financial restrictions
  • Ukraine has urged platforms to block Russian clients
 

Voodoo

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He blocked send/receive addresses on exchanges.

Yes, do stop spreading mis-information. All one need do is read a paragraph.




First the tyrants get you to dox yourself to open an account...which they call Know Your Customer "laws", then the second you piss them off doing something they disagree with politically they use that information to rob you. It's not that complicated fellas. The gumbymint doesn't believe you have a right to economic freedom/privacy and they'll stop at nothing to prevent you from having it.

That's exactly why the DOJ raided and arrested the crypto 6 up in New Hampshire. They were selling Bitcoins via an ATM and NOT (OMG the horror) collecting the information.
 

solarion

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The KYC horseshit with regard to crypto-currencies has been going on for the better part of a decade. Every exchange that used to be anonymous has been wiped out by the fascist pigs in DeeCee, and there used to be dozens of them. The few that remain all require one to dox themselves to open an account. As if it's any of washington's GD business how I choose to deploy my resources.
 

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there are a number of persons/companies requesting regulation from within the sphere,

you may think that seems kind of odd,

but then you realize there is a motive to it,
that is to close the door behind them, katy bar the door,
ie make it much more difficult for competitors to spring up
to create barriers to entry
 

solarion

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Which is a mechanism gumbyint is often used for. Big biz bribes politicians into generating barriers to entry for would be competitors. Sucks, but it's plain for anyone paying attention to see.
 

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Which is a mechanism gumbyint is often used for. Big biz bribes politicians into generating barriers to entry for would be competitors. Sucks, but it's plain for anyone paying attention to see.

it goes both ways. we'll protect you, but you have to (insert communist crap here)

kind of like the deal when kissinger was sent to end the oil embargo in saudi arabia. he made them on offer they couldnt refuse. you take the fake money for oil and we'll make sure nothing happens to your kingdom
 

Lancers32

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there are a number of persons/companies requesting regulation from within the sphere,

you may think that seems kind of odd,

but then you realize there is a motive to it,
that is to close the door behind them, katy bar the door,
ie make it much more difficult for competitors to spring up
to create barriers to entry
One day you'll be buying crypto from your bank.
 

solarion

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One day you'll be buying crypto from your bank.
Ironic given that cryptos were created to circumvent the banking industry. Wall street has to corrupt everything and people were all too happy to engage in derivative trading there. Just as they're all too quick to believe ETPs like GLD, SLV, and SIVR will track the PM prices even if they suddenly rocket higher. News flash, they won't. They'll decouple and you'll be left with vapors.
 

Lancers32

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Ironic given that cryptos were created to circumvent the banking industry. Wall street has to corrupt everything and people were all too happy to engage in derivative trading there. Just as they're all too quick to believe ETPs like GLD, SLV, and SIVR will track the PM prices even if they suddenly rocket higher. News flash, they won't. They'll decouple and you'll be left with vapors.
I have been seeing a few posts here and there that would suggest that they will decouple one day. Recent insanity aside do you think the same thing would apply to Sprott's tracking funds?
 

solarion

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Recent insanity aside do you think the same thing would apply to Sprott's tracking funds?
I do not. I believe PSLV and other Sprott physical trusts have 100% of the metal they claim they do. The primary risk there, imo, are the tyrants in Ottawa. A risk one would have thought to be incredibly low, just a few months ago, but now? I believe those metal hoards are stored for Sprott at the RCM.
 

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I do not. I believe PSLV and other Sprott physical trusts have 100% of the metal they claim they do. The primary risk there, imo, are the tyrants in Ottawa. A risk one would have thought to be incredibly low, just a few months ago, but now? I believe those metal hoards are stored for Sprott at the RCM.

Hoards of real money ALWAYS present an intriguing target to commies.
 

ds_mustang

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There are decentralized exchanges (DEXs) and other DeFi services where your crypto cannot be frozen or confiscated. But for the most part that's with smart contact crypto. The difference between centralized services and decentralized will become more and more apparent. If it's not decentralized, it's not safe.

Lately some Bitcoin people are leaning into arguments FOR centralization and regulation to protect Bitcoin from the newer smart contact crypto and its advances.
 

Voodoo

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There are decentralized exchanges (DEXs) and other DeFi services where your crypto cannot be frozen or confiscated. But for the most part that's with smart contact crypto. The difference between centralized services and decentralized will become more and more apparent. If it's not decentralized, it's not safe.

Lately some Bitcoin people are leaning into arguments FOR centralization and regulation to protect Bitcoin from the newer smart contact crypto and its advances.

Can you name or point me towards the Larger DEX's?
 

ds_mustang

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Can you name or point me towards the Larger DEX's?
Each smart contract blockchain has its own services. For Ethereum the largest general purpose DEX is Uniswap: https://info.uniswap.org/#/
You can see the others listed by size here: https://www.defipulse.com/
Look at services with the "DEXes" in the SECTOR column, though some of them are specialized in some way (e.g. Curve is for stablecoins).
Usage is usually as easy as connecting a wallet and selecting one asset to exchange for another.

Polygon, Solana, and other blockchains have their own DEXes.
 

Ebie

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I do not. I believe PSLV and other Sprott physical trusts have 100% of the metal they claim they do. The primary risk there, imo, are the tyrants in Ottawa. A risk one would have thought to be incredibly low, just a few months ago, but now? I believe those metal hoards are stored for Sprott at the RCM.
Why do you believe that Sprott has real metal?
Good post.
 

EO 11110

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china is fighting the beast

so far


World’s biggest crypto exchange Binance says it will not block all Russian accounts despite Ukraine request​


-------------------------------------------------------------

edit --

oops spoke too soon -- they are blocking accounts, just tell them which ones your government doesnt like

no bueno


Crypto exchange Binance blocks Russian users targeted by sanctions​

 

EO 11110

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not good -- the nyc/dc communists declared their right to make lists of people to block from crypto

the slow burn to reality just got a little hotter


The U.S. government is warning crypto exchanges not to facilitate transactions for individuals and entities newly added to its sanctions list.
The Treasury Department published new regulations banning U.S. persons from providing any support to certain Russian oligarchs and entities as part of an ongoing effort to sanction Russia over its invasion of Ukraine, with the rules taking effect on March 1.

“All property and interests in property that are in the United States, that hereafter come within the United States, or that are or hereafter come within the possession or control of any United States person of the following persons are blocked and may not be transferred, paid, exported, withdrawn, or otherwise dealt in … deceptive or structured transactions or dealings to circumvent any United States sanctions, including through the use of digital currencies or assets or the use of physical assets,” the document said.

The U.S., alongside a coalition of European and other nations has been sanctioning Russian officials and President Vladimir Putin after military forces invaded Ukraine last week. These sanctions include seizing international assets held by Russia’s central bank as well as the nation's largest commercial and state-owned banks.
The coalition of nations has also announced they plan to disconnect some of Russia’s largest banks from SWIFT, the interbank messaging network underpinning much of the global financial system.
The regulations published Monday apply to U.S.-based entities. U.S. officials are also asking crypto exchanges around the world to prevent Russian entities from evading sanctions using cryptocurrencies, Bloomberg reported Monday.

Treasury Department officials have already asked Binance, FTX and Coinbase to block sanctioned persons and addresses. Binance and FTX are not headquartered in the U.S.
Binance, with several other exchanges, have publicly stated they will not block all Russian users or IP addresses, despite entreaties from Ukrainian Vice Prime Minister Mykhailo Fedorov.
According to Bloomberg, Binance at least may be willing to block wallets belonging to individuals on the Treasury Department Office of Foreign Asset Controls sanctions list.
 

EO 11110

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because russia russia russia

yeah right


According to the report, Biden's EO will direct federal agencies "to examine potential regulatory changes, as well as the national security and economic impact of digital assets." It comes at a time when the White House’s approach to crypto has attracted fresh attention amid concerns that Russian firms and olligarchs could use crypto to evade the restrictions.

Previously Bloomberg reported that the order, which has been in the works since last year, will require federal agencies across the government to report later this year what they’re doing regarding digital assets as Biden’s team comes under pressure to play more of a coordinating role as industry executives bemoan what they say is a lack of clarity on U.S. rules.

Meanwhile, the crypto industry is facing intense scrutiny from lawmakers, including Senator Elizabeth Warren and Senate Banking Committee Chairman Sherrod Brown, over concerns that sanctioned individuals and firms in Russia may be using digital assets to bypass the sanctions.
 

solarion

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...meanwhile over at JPMorgue's trading desk, they're piling up shares of Russian equities...and former vice president potato head says nothing. Nope, it's those evil bastards avoiding our galactically stupid sanctions using cryptocurrencies that are the problem.
 

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1646703482093.png
 

anywoundedduck

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And they can block yours too.
So they have been lying.
Got gold? Got silver?
 

anywoundedduck

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And they can block yours too.
So they have been lying.
Got gold? Got silver?
By now, you should realize that Ponzi scheme cryptos were invented by nefarious Deep State Goons in order to divert investment away from Precious Metals.
Like J P Morgan testified to Congress years ago, "The only true money is gold (and other PMs)".
 

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the ugly news flow continues

int'l banking communist says thanks for your help in creating/pumping our dream and your nightmare


EU to Review Regulatory Framework for Crypto​

  • Measure could ban Bitcoin, Ethereum, industry leaders say
  • ‘Proof of work’ mechanism to be targeted by regulations
 

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as with anything, supply exploded

idiots of all types creating bogus nft's and the like,
completely decimating the 'rarity' argument
 

Flight2gold

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Bitcoin is starting to be captured by wall street, like gold was, via futures and other wall street products that reflect Bitcoin price but aren't Bitcoin. Bitcoin was easily captured and replaced by wall street as it's main use case is price speculation. There is no need for anyone to actually use bitcoin or have a wallet as wall street can give you "Bitcoin" price speculation a dozen ways with ease and regulatory compliance. All us long term gold guys could see that coming.

This might be the beginning of the end of Bitcoin, at least as the primary face of crypto. Luckily crypto is now much larger than Bitcoin. Smart contact crypto like Ethereum are very different from Bitcoin. By actually having an Ethereum wallet and using the network you can participate in NFT markets, income generating staking and DeFi protocols, lending, stablecoins, DEXs, anonymous business structures, etc. These are groundbreaking use cases (with more being created). Wall Street cannot easily capture and replicate them. In fact Wall Street is being replaced by them IMO.

So while Bitcoin becomes hamstrung by Wall Street games, smart contact crypto will continue innovating. People will continue moving into smart contact crypto because the financial and other opportunities that aren't available elsewhere. Eventually the public will catch on and Bitcoin will no longer be the crypto asset that drives pricing for the whole crypto sector. But until that happens, bitcoin's failings will hamper crypto values.
Wow o wow is that a heck of statement. BTC is captured? Ask anyone in Cyprus, Greece or Ukraine who moved their money from the banks to BTC if bitcoin is captured. A wallet can never, and I mean never be captured. I’m looking at one wallet now. It’s on an old piece of paper. You can barely read the private key. Its worth $1. Can it be captured by anyone other than a swat team? H No.
I keep it to remind myself that there are only a few things in this world that are truly solid. Your family, gold, Btc and a few others.

Do you know how many times and how many people have called the end of BTC that have then gone down in flames?
So many its comical. You will be added to this number. I predict BTC will hit $100,000 by Dec 22. Let’s see who correct, my friend.
 

ds_mustang

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Wow o wow is that a heck of statement. BTC is captured? Ask anyone in Cyprus, Greece or Ukraine who moved their money from the banks to BTC if bitcoin is captured. A wallet can never, and I mean never be captured. I’m looking at one wallet now. It’s on an old piece of paper. You can barely read the private key. Its worth $1. Can it be captured by anyone other than a swat team? H No.
I keep it to remind myself that there are only a few things in this world that are truly solid. Your family, gold, Btc and a few others.

Do you know how many times and how many people have called the end of BTC that have then gone down in flames?
So many its comical. You will be added to this number. I predict BTC will hit $100,000 by Dec 22. Let’s see who correct, my friend.
I agree bitcoin does things that wall street can't replicate. But by captured I meant wall street has replicated the "price speculation" aspect of bitcoin. Notice all the utility of gold can't be captured by wall street either, but by capturing the speculative price of gold and offering it to investors through various "products," wall street has hamstrung gold for decades. All I'm saying is the same thing might be happening to bitcoin now.

I don't know if you noticed, but the last year or so bitcoin price has been VERY correlated with tech stock prices. That's new. And I think it's the result of wall street products and institutional investors all coming onboard that don't care about bitcoin wallets, but only bitcoin as a price speculation. Why buy actual bitcoin when you can get "exposure" to bitcoin price via futures, ETFs or whatever. Same as happened with gold.
 

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Wow o wow is that a heck of statement. BTC is captured? Ask anyone in Cyprus, Greece or Ukraine who moved their money from the banks to BTC if bitcoin is captured. A wallet can never, and I mean never be captured. I’m looking at one wallet now. It’s on an old piece of paper. You can barely read the private key. Its worth $1. Can it be captured by anyone other than a swat team? H No.
I keep it to remind myself that there are only a few things in this world that are truly solid. Your family, gold, Btc and a few others.

Do you know how many times and how many people have called the end of BTC that have then gone down in flames?
So many its comical. You will be added to this number. I predict BTC will hit $100,000 by Dec 22. Let’s see who correct, my friend.
I think he means "captured" as in taken over. You know, when the derivative on an asset determines price (i.e. precious metals).
 

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the writing is on the wall. the (int'l banker) cant be any clearer. the news flow is horrific for the legacy codes.

(their) new codes-as-money will be the thing
 

ds_mustang

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the writing is on the wall. the (int'l banker) cant be any clearer. the news flow is horrific for the legacy codes.

(their) new codes-as-money will be the thing
Nobody will want that Big-brother crap. They'll have to either bribe people to use it, or force them.
 

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I agree bitcoin does things that wall street can't replicate. But by captured I meant wall street has replicated the "price speculation" aspect of bitcoin. Notice all the utility of gold can't be captured by wall street either, but by capturing the speculative price of gold and offering it to investors through various "products," wall street has hamstrung gold for decades. All I'm saying is the same thing might be happening to bitcoin now.

I don't know if you noticed, but the last year or so bitcoin price has been VERY correlated with tech stock prices. That's new. And I think it's the result of wall street products and institutional investors all coming onboard that don't care about bitcoin wallets, but only bitcoin as a price speculation. Why buy actual bitcoin when you can get "exposure" to bitcoin price via futures, ETFs or whatever. Same as happened with gold.
Ah. Didn't read into it.
 

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Nobody will want that Big-brother crap. They'll have to either bribe people to use it, or force them.
force them -- do they have a history of crushing competition, using their govs to do it? like legal tender dictates?

they stomped all over the constitution to supplant pm with frn. harming code money is a walk in the park compared to that
 

ds_mustang

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force them -- do they have a history of crushing competition, using their govs to do it? like legal tender dictates?

they stomped all over the constitution to supplant pm with frn. harming code money is a walk in the park compared to that
We'll have to see how it goes. As their money is losing power across the world they are getting more desperate. The sort of things they've been able to get away with in the past might not work in the future. As some point it will become apparent even to them that they have lost power. And hopefully that's a good thing for the world as well as for US citizens. But it probably needs to get worse before it gets better.