@TuurDemeester@AdamantResearch Yes please Tuur, it was and still is the best Bitcoin report I've read. Loved the cypherpunk/Bitcoin quotes in the smaller section.
@Xfinancebull At current supply that would mean around 15 trillion market cap. How moronic are you? Just get Bitcoin, folks. It is the most decentralized asset on the planet. Don't touch this pre-mined token, you will be at the whims of insiders.
I don't like the idea of national governments owning Bitcoin, and while US gov spending money on acquisition of BTC is far less bad than most of what it spends money on, I still prefer private money to be held privately.
However, if a digital asset reserve is going to happen, I strongly believe it should be Bitcoin only. I say this as someone who obviously supports many crypto assets and projects.
Bitcoin is, objectively, the most liquid, the most safe, the most trusted, the most decentralized, and the most conservative digital asset on Earth.
There is zero defensible reason to include any other digital asset in such a reserve, at least today. With time (years?), it would be reasonable to consider adding other things, but those are discussions to be had years from now.
Start with the strongest, most defensible foundation. Understand it. See what effect it has with some time. Do not complicate the novel idea by adding the complexity and risk and noise of other digital assets.
Bitcoin only, in this case, and at this time.
Will be interesting to keep an eye on polymarket odds for establishing a US Bitcoin Strategic Reserve as more information like this is made public + possible Q3 earnings: https://t.co/hJrQsCgPoZ
R360 is an elite group for UHNW families
Barbara Goldstein, managing partner, just said on air that they expected the US to buy up to 1 million Bitcoin
This expectation is taking off, and it will take Bitcoin massively higher
Buying cannabis with Bitcoin on the Silk Road is THE MOST amazing form of civil disobedience performed in American history.
Not only did people negate the unconstitutional laws against prohibition, they used an exchange that the government had no control over, and not a single penny went to taxation.
Some of you don’t understand what Ross Ulbricht accomplished because they took it down before it became mainstream, but if the Silk Road was still in use today, America would probably be a real free country, and Ross would be one of the richest men in the world.
They crushed Ross under 240 year jail sentence to keep their empire of lies chugging along.
I am a #FreeRoss warrior because I understand what Ross gave to us, and because of Ross, many of you are now Bitcoin rich.
If you own a single Satoshi, you need to sign the petition to Free Ross, and champion his cause. He is suffering on the cross for our benefit, and I will never not be grateful to him.
My new full report on New York Times' misreporting of the China ban has just come out.
This removes the precedent for a large Nation-state banning Bitcoin mining that perhaps Norway was hoping they could lean on as they contemplate a mining ban.
Don't get too pumped about Trump speaking at this year's @TheBitcoinConf, there are forces in motion that could severely impact the bitcoin industry if people don't begin to make noise.
Earlier today there was a Senate Agriculture Committee hearing on Oversight of Digital Commodities with the head of the CFTC that everyone should watch.
If the legislation that is inevitably going to come out of this hearing gets passed it won't matter if Trump gets into office. The industry will be hindered for years. There is bi-partisan support at the moment as Democrats are moving quickly to react to the buzz Republicans have received due to their embrace of bitcoin.
Long story short, this committee is pushing to give the CFTC regulatory oversight over spot bitcoin markets, which is an unprecedented expansion of CFTC authority into retail commodities trades whereas in the past they have exclusively had jurisdiction over only commodities derivatives markets.
If the CFTC is granted this expansion of authority it would mean that they are likely going to require any bitcoin company to register with the federal government and have enhanced KYC/AML requirements. To be clear, this won't only affect exchanges, but any company that touches spot bitcoin.
These efforts are being spearheaded on the crypto side via lobbying efforts by Kraken, Coinbase and Ripple. Not shocking because this would likely enable them to trivially erect regulatory moats.
It looks like the bi-partisan effort will be looking to pass something through the House and into law rather quickly. Likely before the election.
It is imperative that you speak out against this as it would increase the regulatory and compliance burdens on US bitcoin companies considerably. The best move right now is no action. We need less regulation, not more. As we've seen time and time again throughout the first 15-years of bitcoin, these regulations but users in harm's way and make it unreasonably difficult for companies to operate cheaply and effectively.
Call you Representative and tell them to reject any bill that would give the CFTC oversight over spot bitcoin markets. This is a full on attack.
https://t.co/6XAzPwyvi5
To @Support@Safety@elonmusk:
@BusinessInsider has slandered #Bitcoin FOSS developer @fiatjaf and used this as a pretext to expose his private info, jeopardizing his safety.
Their posts to article should be removed to prevent them from monetizing lies and doxxing.
Twelve years ago, @ewarren promised Massachusetts’ voters she would go to Washington and hold the bankers and banking industry accountable for their continuous illicit conduct.
Recently, Jamie Dimon, CEO of the nation’s largest bank, @jpmorgan, testified, rather, I should say - “testi-lied” - before the Senate Banking Committee, of which, Senator Warren is a member.
I was waiting for @ewarren, a self-proclaimed fighter for consumers, small investors, and women, to show up and ask tough questions of Dimon and the banking industry, especially as it pertains to his bank, JP Morgan Chase. I’m still waiting.
For example:
“To date, JPMorgan Chase has paid a total of $39.68 BILLION in fines to resolve enforcement actions including securities abuses, banking violations, investor protection violations and other offenses.” 👇
https://t.co/dV48EcHGeU
We’re talking about $40 Billion dollars for illicit financial activities - against ONE BANK!
When you add in @BankofAmerica, @WellsFargo , @DeutscheBank@HSBC, @GoldmanSachs, and others, the fraudulent conduct, including money laundering for terrorists, and drug cartels, is staggering.
For example, HSBC Bank USA laundered $881 million for notorious drug cartels like the Sinaloa in Mexico and Norte del Valle in Colombia. 👇
https://t.co/d4arr8ENia
Yet, Senator Warren failed to ask a single question about any of this criminal activity. Instead, she asked questions solely related to her own political agenda - trying to ban the self-custody of #Bitcoin and other Crypto assets in the United States.
Since she claims to be a fighter for women, I was also waiting for her to ask questions about how JP Morgan Chase financed Jeffrey Epstein’s child sex trafficking operation. In fact, JP Morgan settled with the U.S. Virgin Islands for $75 million, over a lawsuit “accusing the nation’s largest bank of facilitating Jeffrey Epstein’s sex-trafficking enterprise for 15 years.”👇
https://t.co/9roFmfiyf9
JP Morgan also paid $290 million to “sexual abuse victims of Jeffrey Epstein who claimed that the bank ignored warnings.” 👇
https://t.co/wYTreBzz46
Yet, Senator Warren focused all her questions on Crypto of all things. Why has she remained silent on all of this? Is it because her friends or donors were involved? Many high profile politicians and individuals have been known to visit Epstein’s island. Her silence has been deafening to the victims.
Another example of @ewarren’s SELECTIVE OUTRAGE:
We know how much she hates crypto. In fact, when she announced she was running for a third term, she said she was building an anti-crypto army. Yet, she hasn’t asked @GaryGensler, a career banker himself, about his private meetings with the biggest Crypto fraudster of all - @SBF_FTX.
Is it once again, because her colleagues are involved? Gensler’s is a big time Democratic donor and operative. In the 2008 presidential campaign cycle, Gensler served as a senior advisor to Hillary Clinton's presidential campaign and later advised the Obama campaign. In May 2015, Gensler was named chief financial officer of Clinton's campaign for president. Also, Gensler’s daughters worked on Senator Warren’s campaign.
On top of that, SBF’s dad, Joe Bankman, was the architect for Senator Warren’s tax plan when she ran for president. SBF’s mother, Barbara Fried runs a super PAC called Mind the Gap, which supports progressive candidates, who share Elizabeth Warren’s political ideology.
12 years ago she went to D.C. to hold the big bankers accountable. A decade later, those same bankers write her bills. Her latest anti-crypto bill was written by the Banking Industry itself.
Below is a perfect example of the type of Washington corruption people are sick and tired of and one reason, of many, of why I’m going to retire Elizabeth Warren.
A first trimester abortion at a @PPFA Planned Parenthood clinic costs about $600.
If an Arizona woman known to be pregnant has a credit card (or crypto tx, ATM withdrawal, etc.) charge of ~$600 at a California Planned Parenthood, why should the government (or anyone else) have full access to her financial records - why are her financial records not protected by HIPAA? This is a foundational privacy issue.
No “money transmitter” should have access to what is in effect private medical information. This is blatantly unconstitutional.
Anyone with access to those records could reasonably infer that this woman had an abortion - which is not only a medical privacy issue but also legal one, as it is illegal in her home state.
@SenWarren your maniacal crusade against financial privacy is jeopardizing the health and privacy of millions of American women. Shame on you.
@AOC@RoKhanna@AdamSchiff@RepMaxineWaters you must repudiate the tyrannical anti-feminist anti-privacy crusade of the Warren financial regime.
@POTUS@KamalaHarris this deranged power hungry zealot must be stripped of her power to direct financial regulation as she continues to jeopardize the health and safety of uterus-having people all over this country.
CC: @PPact
Money should naturally increase in purchasing power for a very simple reason: Technology.
Things get easier to make = they get more affordable.
You have been lied to so the govt can bribe a counterfeit class that, in turn, protects their power.
#Bitcoin fixes this