Gaius
1
A couple of long overdue arrests have been made.
The crypto world is waking up to the fact that
the primary function of calling a security a “currency”
is an attempt to sidestep accounting and insider trading laws.
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Sorry, but now I wanna see that silver coin ad more than anything. 
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Gaius
4
Here is a link to a DOJ press release describing a guilty plea they got,
immediately afterwards were made linked to “coinbase” which apparently is a central player in crypto exchanges.
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There should be less people buying up gaming hardware for crypto mining now, right?
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Gaius
6
LOL I guess,
“Mining” is such a big deal it uses its own equipment.
I am sure it contributed to supply chain problems,
but it is direct competition for nothing except electricity,
I don’t know how long the final fall will take.
I’m guessing weeks, but could be 48 hours or could be Christmas.
GWH
7
Maybe gamestonk for diamond hands.
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Well, here’s hoping. I’m eyeballing a second Radeon RX 6700 XT for my simmies.
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Gaius
9
Oops sorry the “next round” of arrests are still pending investigation,
but the Feds now have three convictions, three precedents etc.
the legal ground is a clear path.
Gaius
10
I have seen news articles of huge banks of really high end computers for sale. Used for crypto mining now for sale cheap.
I doubt it comes with Windows preinstalled but the hardware is way more than sufficient for NASA.
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rp5x5
11
There was a commodity text book documenting the holocaust which stated that SOAP of all kinds was the best currency and investment quality diamonds were much lighter then metal.
rp5x5
12
Something worthless and imaginary to begin with, can’t “fall” Only fall guys fell for it.
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Well, yeah. When Lord Humongous comes calling he isn’t gonna about your about handful of gold coins, or your paperwork that says you own some gold somewhere.
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zantax
14
Well I steered clear because let’s face it, no country let alone the US will tolerate competition to their domestic currency. But there is no denying the guys who got in early and got out early made a mint.
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zantax
15
Right, you want guns, ammo and friends with guns and ammo.
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rp5x5
16
Or those who covered up and faked the death of John M
Gaius
18
This is from “Bitcoin Magazine”
It has 2.5 million followers on Twitter. They (the legal bot presumably)
churns out 10-20 or so puff pieces a day including this one 2-3 times.
If a retail investor does what the magazine recommends, and takes his bitcoin off the exchange that means it will be a multi-day multi-step process to (later) sell that bitcoin if there is ever a crash.
Bitcoin Magazine portrays this (to unwary young investors) as a means of “protecting their bitcoin.”
100% disgusting!!
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Safiel
19
I would note that the United States Dollar operates on precisely the same concept. It has no inherent value. It has no inherent definition. We happen to denominate Federal Reserve Notes in units of United States Dollars, but in reality, United States Dollars are not one bit more “real” than cryptocurrency.
Nor, for that matter, any fiat currency anywhere in the world.
Cryptocurrency has many issues.
The main difference is that the whole “full faith and credit” thing manages to keep fiat currency on its feet, despite its own vast number of issues.
rp5x5
20
The US dollar is based on America and American Law, whether it is backed by metal or not. It is not at all based on the same principles of fiat currency. It is not a fiat currency and that term is used pejoratively for a reason. Money theorists have always tried to question it, yet they are paid by real currency.
The regulatory bodies have Laws and codes to follow, but at times in the past and present, those regulatory bodies have been corrupted.
The same ideas of good “faith” is based on human beings not abstractions. Others try to tear it down and currency trading is crazy all around. It amounts to burning down your own house family and friends. Criminals and greed, have no real scruples.
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