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Hear me out

This is BULLISH for the demise of shitcoins

If I’m reading this right and this green lights corporations and public company to issue their own tokens this is like a head shot to cryptos like XRP and cardano that always lie about some bank or some major corporation adopting it

Example

If Bank of America can issue their own token why the fuck would they use XRP or cardano or any other shitcoin

I think this is will further separate Bitcoin from the rest.

I think all the bullshit utility tokens die and when the dust settles there will be Bitcoin a bunch of public company/corporate tokens and memes

The days are numbered for the ripples stellars and cardano of the world

Replying to 772f9545...

Suppose you succeed in defending yourself. Then what?

Then I continue to life my life and keep

My stack

They kill me in a shootout guess what they still don’t have my corn

Replying to 772f9545...

Easy to say, hard to do.

If I’m willing to die for anything it’s my

Family and life savings lol I don’t think it’s that hard. If someone tried to break in your house and rob you .. it wouldn’t be hard to defend yourself.

Replying to

JustaPleb

I'm guessing Elon will make X-USD part of the X everything app and may enable mobile transactions directly through Starlink mobile in unfriendly countries. (He should do it on lightning but not sure if he will)

Bet they don't allow people to issue USD stablecoins backed by assets of their own chosing i.e gold, silver, bitcoin. They restric the use of USD stablecoin in the US to those backed by US debt. Hope I'm wrong.

Interesting if this starts to happen with more corporations and banks making their own tokens I can only assume the other shitcoins like XRP Cardano all that bullshit will be exposed even more as completely useless.

Replying to

L0la L33tz

I look forward to you telling that to the agents that show up to your house with guns cutie pie

The 2nd Amendment and Self Custody sweetheart tell them to come let’s shoot it out

Replying to

L0la L33tz

So the Trump's 'crypto* EO is out, and I'm seeing lots of weak bitches cry that its a shitcoin reserve.

Given the fact that the proposed digital assets stockpile would possibly be built on *seized* coins, let me give you a quick introduction to forfeiture law, and why crying for daddy to please please make its pile of flying horseshit "bitcoin only" *literally* the most retarded thing you could be wishing for, ever.

Forfeiture law – or civil asset forfeiture, to be precise – is this fun little game the government plays in which it does not have to accuse you of a crime to confiscate your property.

Instead of accusing you of a crime, the Government claims that the asset itself has facilitated a crime, and can therefore be seized by the Government.

In civil asset forfeiture, there is no innocent until proven guilty. To get your property back, *you* have to prove that the Government is wrong – which turns out pretty complicated seeing how its impossible to prove a negative.

Civil asset forfeiture results in cases that are not filed against a person, but filed against the property itself. This results in fun little cases like US vs. Binance Account XYZ, or US vs. 123 Wilmington Drive.

To extend this idea to Bitcoin, in a civil forfeiture case, the US Government is in theory able to seize *any bitcoin* that has *ever* come out of a criminal transaction.

Made some bitcoin for selling a service? Bought some bitcoin on a P2P exchange? Unless you checked that the UTXO you received has never touched a criminal transaction in its entire history, your coins can be confiscated, and there's pretty much nothing you can do about it.

As Cato Institute points out in its piece on civil forfeiture reform, forfeiture law is routinely misused to enrich the Government – Philadelphia, for example, has seized over 1000 homes, over 3000 vehicles, and over $44M in cash over an 11 year period. In 2010, the city tried to seize *an entire fucking house* because a woman's grandson sold less than $200 of weed out of the basement.

If you think that taxes are bad, civil asset forfeiture is straight up evil.

It doesn't matter whether you participated in a crime. It doesn't matter whether you know that someone else participated in a crime. If it involved your property, even if said property was fully legally acquired, the Government will come and take it.

Civil asset forfeiture is the most insane Government funding technique that is out there, and you most definitely do not want this declared as a strategic means to pump the Government's bitcoin bags.

You are *literally* asking the Government to steal your coins with a practice that *every* libertarian advocate wants to see abolished.

Respectfully the only weak bitch I see is the one holding a cheap glass of wine

Civil asset forfeiture blah blah blah cute essay. You say civil asset forfeiture guess what I say self custody.

The shitcoin reserves gives more undeserved legitimacy to shitcoins and proves that the bulk of trumps political donations from the “crypto” space came from shitcoin creators CEOs and influencers

It’s all good tho Bitcoin will win in the end. So I could care less about the SBR. It’s just cringey that’s all

If it’s not self custody it’s not bitcoin

It’s like getting head with a condom on

That ain’t real head

Replying to

farooq

Banks will start offering bitcoin custody

That ain’t bitcoin

Replying to

Correct. No explicit plans to accumulate more… yet.

Replying to

Correct. No explicit plans to accumulate more… yet.

You cannot “stockpile” something without accumulating it.

Replying to

Correct. No explicit plans to accumulate more… yet.

How can you stockpile something without accumulating it?

Replying to e9e90b65...

Wouldn't surprise me if they put shit coins in that "reserve".

I Never thought shit coins would be included but the more I hear “digital assets” and “cryptocurrency” the more I realize that the large % of Trump campaign money from “crypto” industry were from shitcoin creators and not bitcoin maxi’s.

Replying to

Accurate framing

To stockpile something by definition doesn’t mean to accumulate it?

Set the wallet up so I can send some sats this is honorable salute

nostr:note1le0uhyrwq5xyakcr9jwf63pyhcdwwrfxdk9mean2vn6xnsq0r32sndq36p

Replying to

Erik Cason

Attention retards:

You will get one warning that you are retarded when commenting on my post, and the next time you will be muted if said retardation continues.

Unmuting fees start at 10k sats, plus explicit apology for retarded thing said.

You have been warned retards.

Ok Forrest Boy

The cocaine color Kevin Mchale