Jump to content

GrandPapillon

Advanced Member
  • Posts

    2,734
  • Joined

  • Last visited

Posts posted by GrandPapillon

  1. 45 minutes ago, ukrules said:

    What you're seeing with Binance is national level protectionism, they want to keep the foreigners out

    they want to keep money laundering out of the US system, in particular Russian and Chinese money

     

    the founders suspicious activities with their market makers affiliates reek of market and price manipulation

  2. SEC Probes Trading Affiliates of Crypto Giant Binance’s U.S. Arm

    The Securities and Exchange Commission is examining the relationship between the U.S. arm of Binance, the world’s largest cryptocurrency exchange, and two trading firms with ties to Binance’s founder, people familiar with the probe say.

    The two trading firms, Sigma Chain and Merit Peak, act as market makers that trade cryptocurrencies on the Binance.US exchange. One area of focus for regulators is how Binance.US disclosed to customers its links to the trading firms, the people say.

     

    https://www.wsj.com/articles/sec-probes-trading-affiliates-of-crypto-giant-binances-u-s-arm-11644948162?mod=djemalertNEWS

  3. 1 hour ago, Sparktrader said:

    Buffet has no idea about tech stuff really. Missed Amazon, missed Facebook, missed Bitcoin. He is old and out of date. Early bitcoin buyers made 10,000%+

     

     

    it's easy to make 10,000% when you start with $1

     

    Buffet used to do that in his young age ????

     

    try that now when your minimum investment is $1bn, that's what he was saying in one of his rare interview a few years ago

     

    he is missing out because he can't possibly invest without creating a shock in the market, and that could possibly make BTC reach $1,000,000 within days ????

    • Thanks 1
  4. 16 minutes ago, lkn said:

    So true story here: A person needed to borrow $300,000 (mortgage). They turned to BlockFi, here they can borrow the amount by putting up 2x collateral in bitcoin and at an 10% interest rate + 2% initial fees. This person thinks bitcoin will go up > 10% p.a. so they take the loan, i.e. transfer $600,000 worth of bitcoins to BlockFi, pay a $6,000 fee to get the loan, and receive $300,000 from BlockFi.

     

    At this time, 1 BTC ≈ 65,000 USDT. But this was 4 or so months ago, and price of BTC was going down.

     

    So BlockFi tells them they need to provide more collateral, if they want to keep their loan, which happens a few times.

     

    Two months have passed, so our lender have paid 2 × $2,500 in interests so far.

     

    Now BlockFi tells them: Some of the bitcoins you provided us with are tainted, i.e. indirectly from mixing service or similar.

     

    You have two options: 1. Pay back the loan in full ($300,000) and receive your bitcoins, or 2. We sell some of your bitcoins to cover the loan.

     

    Unfortunately, at this time, our lender did not have $300,000 and 1 BTC ≈ 34,000 USDT.

     

    BlockFi sells enough of the bitcoins to cover the loan and this means capital gains tax on $300,000 for our lender…

    brilliant, these bitcoins enthusiasts aren't really smart at the end, hence why governments should protect them from themselves and just take away their dangerous toys

     

    Cryptos are the equivalent of selling "guns" to children in school ????

    • Thanks 1
    • Haha 1
  5. On 1/17/2022 at 5:05 AM, ukrules said:

    Nah, it's all about any profit at the time of sale. Merely moving them around generates no profit or loss.

     

    If they wanted to kill crypto stone cold dead in Thailand they could alter the VAT laws and tax every purchase transaction.

    That would end it in one day.

    they could technically apply a withholding tax when you want to transfer to another wallet or take your crypto offline, and claim back the withholding tax once you settle your trade and record a profit or a loss

     

    that's what happens in the US for your offshore trading account under certain "flagged" conditions,

     

    I learn the hard way ????

  6. 8 minutes ago, canuckamuck said:

    The Freedom Convoy is applying huge pressure and is spawning similar protests around the world. The legacy media is doing their best to downplay it however.  Wait and see the mandates crumble.

    they are holding live TikTok of the protests, quite impressive

     

    the ones of the Australian protests with cops running and hiding were legend ????

     

    • Like 1
    • Haha 1
  7. the location of the parent company is actually quite irrelevant, if they get served papers by the FBI or Interpol, they would have to technically comply,

     

    they can chose to ignore it, but that won't stop authorities from going to the next stage, usually suspension from "payment processors" and finally "domain name seizure" which is directly under US authorities for 99% of domain names

     

    ask "bittorrent" sites if having no HQ or no official location helped them from attacks by US authorities, it didn't, and they have been a playing a game of cat and mouse for the last 10 years. You can't do that with a real business with actual revenues.

×
×
  • Create New...