Cryptocurrency

[Jog On]

Treasury confirmed the story:

"Bringing together regulators will enable us to assess the potential benefits of stablecoins while mitigating risks they could pose to users, markets, or the financial system," Yellen said in the statement.

I'm moving all my stablecoins into USDC, that's the Goldman USD stablecoin - they're not going to ban that. Wouldn't surprise me if it became the fed's CBDC.

[AtW]

Regulate by banning. Only stable coin should be USD.

[Jog On]

https://twitter.com/INotoriousxrp/st...70375494021123

Interesting response from Jerome Powell on future of USD CBDC vs stablecoins.

https://www.zerohedge.com/crypto/yel...ng-stablecoins

[Jog On]

"Cryptocurrencies are 'shady' and 'right-wing', says Dogecoin founder

Software engineer Jackson Palmer is concerned about tax avoidance and lack of oversight in the 'hyper-capitalistic' sector

A co-creator of “Dogecoin” has launched a blistering attack on cryptocurrencies, calling the industry “inherently right-wing” and built on "shady business connections”.
Jackson Palmer, a software engineer who helped set up the dog-themed crypto as a joke in 2013, tweeted: “I believe that cryptocurrency is an inherently right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight and artificially enforced scarcity.”

Despite being created as a joke, it is now worth $24bn (£17.3bn), aided by enthusiastic support from Elon Musk, the Tesla and SpaceX founder.
Mr Palmer said the cryptocurrency industry is now "controlled by a powerful cartel of wealthy figures” and branded it a “cult-like ‘get rich quick’ funnel designed to extract new money from the financially desperate and naive”.

https://www.telegraph.co.uk/technolo...ecoin-founder/

This guy created DOGE then left and sold all his coins in 2015. If he hadn't done that he'd be a billionaire by now. I'd be salty as well....

Saw a really good reply to a tweet about this - "Your brain on soy"

He had his Twitter rage storm and turned off replies to his tweets... Got to feel for him I suppose. Another reply to a tweet about this said that what he's done was akin to having 1000s of BTC in 2015 and selling them all for around $1 to buy a car.

[AtW]

"Cryptocurrencies are 'shady' and 'right-wing', says Dogecoin founder

Software engineer Jackson Palmer is concerned about tax avoidance and lack of oversight in the 'hyper-capitalistic' sector

A co-creator of “Dogecoin” has launched a blistering attack on cryptocurrencies, calling the industry “inherently right-wing” and built on "shady business connections”.
Jackson Palmer, a software engineer who helped set up the dog-themed crypto as a joke in 2013, tweeted: “I believe that cryptocurrency is an inherently right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight and artificially enforced scarcity.”

Despite being created as a joke, it is now worth $24bn (£17.3bn), aided by enthusiastic support from Elon Musk, the Tesla and SpaceX founder.
Mr Palmer said the cryptocurrency industry is now "controlled by a powerful cartel of wealthy figures” and branded it a “cult-like ‘get rich quick’ funnel designed to extract new money from the financially desperate and naive”.

https://www.telegraph.co.uk/technolo...ecoin-founder/

[AtW]

Yes, they’ll have redesign cities for it!



How is that bench going, “hot” tulipcoin skills not in demand yet?

[Jog On]

Can we have a new crypto thread for those of us who actually want to talk about it, rather than 90% of posts coming from one person just retweeting anti-crypto stories?

He'll just migrate over to the new thread and carry on. It's not about whatever topic he's arguing about, he's just addicted to arguing and fighting on the Internet.

It's a shame because this community if anything should be at the cutting edge of this tech. You'd kind of expect this thread to be covering latest developments and whotnot. With CBDCs coming, institutional DeFi and global money moving to DLT (distributed ledger technology) it wouldn't surprise me if blockchain becomes a 'hot skill' that everyone's having to learn. The scale of finance system migrations will be epic.

This isn't about Bitcoin and P&D tulipcoins anymore - this space is maturing fast. The powers that be are embracing the tech and when it's in their control and they govern the money supply (CBDCs/stablecoins) then 90+% of the thousands and thousands of cryptos will go to zero/get banned and a few solid ones will become part of money 2.0.

[d000hg]

Can we have a new crypto thread for those of us who actually want to talk about it, rather than 90% of posts coming from one person just retweeting anti-crypto stories?

[AtW]

Yeah, the Govt will pay criminals in their preferred way in order to get bigger criminals, what a shocker.

You still on the bench?

[Jog On]

https://twitter.com/INotoriousxrp/st...70375494021123

Interesting response from Jerome Powell on future of USD CBDC vs stablecoins.