I just bought $200,000 of Bitcoin

[Sparktrader]

100 years 1929

21 years 1987 to 2008 to 2029

 

2 cycles

 

% rates will be high by 2029, usa ruined by biden

 

Prime time for crash.

 

Buy puts sept 2029

[lkn]

3 minutes ago, dj230 said:

was closer to $10k and he sold all of his back then, shows how bullish he is on it 

And he got scammed in the process. Buyer paid with stolen credit card, but Wozniak had already sent the coins, and as we know, once you have sent your bitcoins to someone else, there is no authority to contact to get them back incase of fraud, but hey, that’s a feature! Except of course, when it affects major stakeholders, then we do a hard fork…

[dj230]

6 minutes ago, lkn said:

And he got scammed in the process. Buyer paid with stolen credit card, but Wozniak had already sent the coins, and as we know, once you have sent your bitcoins to someone else, there is no authority to contact to get them back incase of fraud, but hey, that’s a feature! Except of course, when it affects major stakeholders, then we do a hard fork…

That actually is one of the few use cases I can see crypto being used for, not a store of money, transactions or an investment but a way to transfer funds for fraud/illicit activities. 

Edited March 10, 2022 by dj230

[Neeranam]

Mainstream Hedge Funds Pour Billions of Dollars Into Crypto

Veteran traders including Alan Howard and Paul Tudor Jones are said to be increasing their trading in cryptocurrencies

 

 

https://www.wsj.com/articles/mainstream-hedge-funds-pour-billions-of-dollars-into-crypto-11646808223?redirect=amp

[lkn]

3 hours ago, dj230 said:

That actually is one of the few use cases I can see crypto being used for, not a store of money, transactions or an investment but a way to transfer funds for fraud/illicit activities. 

You mean payment for ransomware and such? The problem today though is that so many on/off ramps have introduced AML/KYC procedures, and with the blockchain being public, it is very hard to disguise (launder) ill-gotten gains.

 

But I definitely agree, the advantage of setting up a parallel payment system (like crypto) is regulatory arbitrage, and that in itself have enough value, that the network could be subsidized by those who really need this aspect (because really, legit agents would not be willing to pay the actual cost of a decentralized payment).

 

Last year, the Conti Ransomware Group alone received $180 million worth of crypto, that is dirty money where they would probably be happy to accept 10 cent on the dollar to launder them, as that would still leave them with 18M of clean U.S. dollars. Many of these ransomware groups (and North Korea) are simply keeping majority of their crypto, probably because it’s hard to cash out $180M worth of tainted bitcoins…

[Nojohndoe]

As a teaser to the topic and probably not considered helpful I admit I lean towards the sentiment and humor in this video.

https://www.cracked.com/article_31467_if-cryptocurrency-was-honest-video.html

[dj230]

On 3/10/2022 at 9:51 PM, lkn said:

You mean payment for ransomware and such? The problem today though is that so many on/off ramps have introduced AML/KYC procedures, and with the blockchain being public, it is very hard to disguise (launder) ill-gotten gains.

 

But I definitely agree, the advantage of setting up a parallel payment system (like crypto) is regulatory arbitrage, and that in itself have enough value, that the network could be subsidized by those who really need this aspect (because really, legit agents would not be willing to pay the actual cost of a decentralized payment).

 

Last year, the Conti Ransomware Group alone received $180 million worth of crypto, that is dirty money where they would probably be happy to accept 10 cent on the dollar to launder them, as that would still leave them with 18M of clean U.S. dollars. Many of these ransomware groups (and North Korea) are simply keeping majority of their crypto, probably because it’s hard to cash out $180M worth of tainted bitcoins…

Any illicit activities, lots have been using crypto as a way to transfer funds for almost a decade now 

[Whale]

Now this is good news for believers in Crypto 

 

"After dropping bitcoin in 2018, Stripe has now announced its support for all kinds of crypto businesses.

Stripe is back in the bitcoin business after a four-year hiatus. The payments company is now partnering with global cryptocurrency exchange FTX to make crypto investments “easier than ever”."

 

https://www.siliconrepublic.com/business/stripe-crypto-cryptocurrency-ftx-bitcoin-payments

[happydreamer]

There's that combination of terms again...crypto and mainstream.  Good share Whale

 

 

[Sparktrader]

Inverted hammer

[Neeranam]

On 3/12/2022 at 12:05 AM, dj230 said:

Any illicit activities, lots have been using crypto as a way to transfer funds for almost a decade now 

Many many more have been using the USD for illegal activities. 

[Sparktrader]

8 minutes ago, Neeranam said:

Many many more have been using the USD for illegal activities. 

Most drug deals done in cash

[dj230]

1 hour ago, Neeranam said:

Many many more have been using the USD for illegal activities. 

Maybe before Bitcoin was invented

[Sparktrader]

6 minutes ago, dj230 said:

Maybe before Bitcoin was invented

Most drug and gun busts cash is seized

[Neeranam]

8 minutes ago, dj230 said:

Maybe before Bitcoin was invented

you are living in the past

[dj230]

2 minutes ago, Sparktrader said:

Most drug and gun busts cash is seized

That’s not a data point for my statement which was crypto is used for illicit activities, 

 

the sky is blue as well

[Sparktrader]

Most crooks deal in cash. Easier to spend. Most wouldnt have a clue how to buy bitcoin.

 

 

[Sparktrader]

2 minutes ago, dj230 said:

That’s not a data point for my statement which was crypto is used for illicit activities, 

 

the sky is blue as well

You are talking nonsense. All the large exchanges require id to open an account.

 

You have obviously never owned btc and have no idea.

[JoseThailand]

1 hour ago, Neeranam said:

Many many more have been using the USD for illegal activities. 

That's why the governments are cracking down on cash. It's very hard to move large amounts of cash across borders. It's hard to launder dirty cash, too.

[Sparktrader]

 

[dj230]

4 hours ago, Sparktrader said:

You are talking nonsense. All the large exchanges require id to open an account.

 

You have obviously never owned btc and have no idea.

you need an ID to open a bank account too

 

[Neeranam]

1 hour ago, dj230 said:

you need an ID to open a bank account too

 

You miss his point. You don't need ID to use fiat cash. 

You are living ten years ago, Bitcoin is mainstream now. 

[dj230]

21 minutes ago, Neeranam said:

You miss his point. You don't need ID to use fiat cash. 

You are living ten years ago, Bitcoin is mainstream now. 

The statement was crypto was used for illicit activities. He said you need an ID for a crypto account and I said you need one for a bank account. You can own cash and crypto without an ID. 

 

Doesn't matter if it's mainstream, that has nothing to do with what I said, fidget spinners were mainstream a few years ago.

 

 

[happydreamer]

https://finbold.com/us-senator-bill-to-integrate-cryptocurrencies-into-financial-system-almost-ready/

 

[Sparktrader]

20 hours ago, dj230 said:

you need an ID to open a bank account too

 

Really? Wow thats news

[Sparktrader]

19 hours ago, dj230 said:

The statement was crypto was used for illicit activities. He said you need an ID for a crypto account and I said you need one for a bank account. You can own cash and crypto without an ID. 

 

Doesn't matter if it's mainstream, that has nothing to do with what I said, fidget spinners were mainstream a few years ago.

 

 

You cant buy crypto without id

[Sparktrader]

 

[happydreamer]

There was someone on here a while ago that was asking about the Gemini Credit Card.  I received an email from them today that said I could apply and check if I qualified.  took about a minute to plug-in my data.  Was approved for 20K credit limit at 12.99% APR on the spot.  Go out there and see if you can apply if you're still interested.

[ChrisP24]

On 3/15/2022 at 11:41 PM, JoseThailand said:

That's why the governments are cracking down on cash. It's very hard to move large amounts of cash across borders. It's hard to launder dirty cash, too.

That is also a large reason why the 500-euro note was discontinued as it had become the choice of criminals as the most compact way to move large amounts of cash. 

[Whale]

On 3/16/2022 at 1:23 PM, dj230 said:

Maybe before Bitcoin was invented

I think maybe you are mixing up "The Silkroad" and TOR with bitcoin.

 

Bitcoin is trackable, the FBI has a department now that just does that in larger cases. Obfuscation does not work even washing large amounts in Monero has been "cracked" by the FBI correlating upstream and downstream activities.