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Just In: Biden to Sign Executive Order to Regulate Cryptocurrency after Assault on Dollar

ds_mustang

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Bitcoin returns have sucked compared to PMs over the past year...and I'm sure that surprises nobody. I still have bitcoin and other cryptos, I just prefer to trade things that are expensive for things that are cheap.
I'm not taking about some cherry-picked timeframe, but long term. You've been in crypto a long time. Have you considered where'd you'd be if you'd just held rather than trying to predict price moves? Maybe you'd have been a millionaire several times over?

Meanwhile crypto has outperformed PMs with very few exceptions like the last few months. I'm in both and can be honest about it.
 

solarion

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I provided both a one year and a 4 month chart. I did so, because that constitutes the time frame in which I swapped bitcoin for PMs. If you want "cherry picked" I can provide it, but we both know bitcoin moves in cycles and those cycles can last for years. Bitcoin is in a down cycle and I don't expect it to do all that well for the foreseeable future. I picked a top with relative accuracy and I'm very pleased with the result.

...and I don't have millions of debt dollars because I do not like them. I'd have millions in assets if I could avoid repeated tragic boating accidents.

Meanwhile crypto has outperformed PMs with very few exceptions like the last few months.
No, PMs have outperformed crypto for the past year, particularly gold, which has been very stable. Gold has outperformed bitcoin by 31.84% in the past 52 weeks. Now you can call that a nothing burger if you like, but it's not nothing to me. I personally believe that PM/commodity producers will kick the living shit out of crypto returns in the near term and I've set myself up to benefit. Sorry if that upsets you.

I'm in both and can be honest about it.
Well goodie for you. I have cryptos as well. It's not a binary decision...I keep a diversified group of assets outside the dollar system that I like...I merely re-balance them from time to time based upon my own risk assessment. You're welcome to take 50% haircuts on your crypto holdings if you like, but I choose to manage risk.
 
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solarion

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Here's the same chart including ETH, which I know you like...and I do not. I have a small stack of them however, because I believe the risk of not having any to be > the risk of having a small position.

1646867540121.png


Awesome right? ETH for the win? Well I guess, yet the check eventually comes do. So why pay it in full? Why not protect profits when it's so obvious you're going to be giving some back?

1646867690588.png


Now paper platinum has performed 37.66% better than ETH...and again gold is steady as a rock.
 

Avalon

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Cash is going to die, and potentially precious metals IF the commies have it their way.
yep, I'm sitting here reading about how they want to destroy crypto knowing at some point precious metals will be on their list at some point.
 

Mujahideen

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I don't know why you'd buy anything with crypto anyway. Buying stuff is for dollars and other depreciating fiat you want to get rid of. My crypto makes me income that I live on and has been going up over time on top of that. For similar reasons you don't sell property in good locations... it goes up over time and brings in income in the meantime. You don't sell your seed corn.

Stake crypto and then buy gold with the staking returns. If you're aggressive, buy gold-backed crypto with the staking returns and then stake the gold-backed crypto to make even more.

I like your style. I try to work all my money and buy bullion only with dividends/profit.

I feel like there should be a word for that.
 

gringott

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I like your style. I try to work all my money and buy bullion only with dividends/profit.

I feel like there should be a word for that.
There is a word for that. Smart.
 

solarion

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PoS cryptos have been around for years. Most of them have gone to zero. It's not a new idea fellas...it wasn't invented by pimple faced Buterin last year. I've handed out PoS coins on this very site to people that provided addresses.

Peercoin goes back to 2012. It has gone pretty much nowhere, but is the grand daddy of all PoS blockchains.

1646869026352.png
 

Lancers32

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Solarian is Ripple being used by the big banks for money transfer?
 

solarion

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So they claim. Last I'd heard banks all around the world are using it, particularly in the US, Canada, and India.
 

newmisty

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solarion

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Only in convenient vanilla brandy form. yum.
 

Casey Jones

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yep, I'm sitting here reading about how they want to destroy crypto knowing at some point precious metals will be on their list at some point.
Exactly.

But, something that is REAL...that has physical properties...you can throw down a hole (or have a boating accident) and come back to it at some future point.

Dots and dashes on a flash drive? I don't think even computers will survive; but let's imagine they do, in some form. The future poverty we're looking at probably means the only computers we'll have are our government-mandated spy-smartphones. Not gonna be retrieving crypto on those, or using flash drives.

I have been online a long time...since 1998. Before that, even, I used computers, in the Navy - Windows 3.0, and the like. We went from floppies, to "hard floppies" (only a moronic tech geek could name those disks that) to CDs. To WRITEABLE CDs. I remember when storage was a big deal - you had to plug your external drive into the back, with whatever they called that cable then (it escapes me; this was before USBs became the standard) and you could store maybe 4GB of files. Movies online? Not possible.

Now RAM is 16 GB, and a tiny thumb drive is 128 GB. Storage devices of 2000, can't even be READ. (Yeah, some can, HDs formatted in FAT...if the circuitry in the drive is recognized by your box...)

So. Do I expect that a hidden thumb drive with bitcoin on it, will be workable in 15 years when this insanity wears out? I don't.
 

newmisty

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wastrel

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I remember when storage was a big deal - you had to plug your external drive into the back, with whatever they called that cable then (it escapes me; this was before USBs became the standard) and you could store maybe 4GB of files.
SCSI cable. (Small Computer System Interface)

Kinda weird the trivia that stays in your head. o_O
 

Casey Jones

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SCSI cable. (Small Computer System Interface)

Kinda weird the trivia that stays in your head. o_O
Yeah. Now I remember. The geeks told me it was pronounced "scuzzy."

AND...you had to shut down and reboot, to make it work. Which it didn't always do.
 

SongSungAU

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U.S. Crypto Regulation: Biden Signs Executive Order on Strategy to Regulate Crypto

excerpt:
On March 9, 2022, President Biden signed an Executive Order on Ensuring Responsible Development of Digital Assets. According to an accompanying fact sheet, it is the “first ever, whole-of-government approach” to regulating cryptocurrency activities. Six areas are of focus in the order: (i) consumer and investor protection, (ii) financial stability and systemic risk, (iii) the prevention of illicit finance, (iv) U.S. leadership and competitiveness, (v) financial inclusion, and (vi) responsible innovation.​

The article has a funky four-column table of info that didn't display fully in my browser (had to keep scrolling to the right then back to the left to read it). I finally printed the article as a PDF document and the table displayed correctly in the PDF doc.