Agreed, but the Bitcoin Main Chain should be looked at like a savings account. Use it to store funds. Lightning is a spending account. Move funds from the main chain to lightning as needed for spending funds. Hopefully their will be favorable legislation to allow for no capital gains on spends up to some reasonable threshold.
It’s not a horrible problem. Most of us will use Bitcoin responsibly, as a store of value. In some way, it’s OK that they can track the fact that some entity sent a good deal of value to a not so good entity for a not so good purpose. They can’t stop the payment, but they can track it back to you. Would certainly give a bad person pause to use Bitcoin for any illegal activities. Absolute privacy in any system is a myth.
We’re talking to nostr:npub1rxysxnjkhrmqd3ey73dp9n5y5yvyzcs64acc9g0k2epcpwwyya4spvhnp8 on Blue Collar Bitcoin tomorrow.
What #Bitcoin tech or other topics do u want the 3 of us to explore?
Mining on Ocean with a mini bitcoin miner. Think that the more average Joe’s we can get on mining set ups, the better off we will be to fight off miner centralization.
Just sent my wallet of Satoshi in US, 2 cents to myself from another wallet. Still working for me.
I honestly find this hard to believe. I can help but wonder if a three letter agency is behind this & nostr:npub1hcwcj72tlyk7thtyc8nq763vwrq5p2avnyeyrrlwxrzuvdl7j3usj4h9rq is being told they can’t say why.
This just doesn’t feel… natural.
This kinda thing makes me think every service in #Bitcoin needs a canary site/broadcast as a way to communicate to users when the govt tries to gag them.
Actually! This could be an interesting thing for #nostr, like a status item or something 🤔 nostr:note1mv2sgrzvlfn8mxks6853ktw8uaw4s28uzx5tnfscrwqjcp0wf5dqakwr78
My wallet is still on my iPhone, and still is working. Moved most out now. Only 2 cents in it now. Will continue to move a couple cents in and out til it stops working
Blackrock with the help of US gov. Is driving the price of BTC down, so they can pick it up cheap. Follow the suits, and get your’s before it’s too late.
My bet, is not one single user of Binance will lose any funds due to this action. Binance will come out just fine after the dust has cleared. Does the DOJ accept Bitcoin in payment of fines?
Yea, I signed up for it months ago. Curious, I guess. Always have been. My Grandmother used to tell me Curiosity killed the Cat. I’ll be careful about my interactions there till I start hearing from people I know.
Got the invite to BlueSky. Seeing as I like what Jack’s behind, I signed in to it. Went thru a bunch of the suggested Follows. Seemed like a bunch of corporate news media outlets. After seeing the feed, I was not impressed with what it was giving me. Then without having posted anything at all, I received my first follower. Satan! What? Anybody here have any experiences to share on BlueSky yet?
Almost feels like we’re coming out of the dark ages.
Just watched the Movie “Human B”. Very inspiring take on what Bitcoin is really all about. Forget how Wall Street thinks they will make a ton of money with it. Think more about how it saves the planet.
I always wonder in cases like this, if he is just the fall guy for somebody much bigger above the law.
Karma catches up with another dirtbag sim swapper. https://www.justice.gov/usao-az/pr/hacker-sentenced-30-months-sim-swapping-conspiracy-resulting-theft-nearly-1-million
An economics teacher once told me; “If the gain from a financial crime outweighs the penalty of the crime, do the crime.”
The next attack on Bitcoin;
Congress is making a stink about Terrorism, and the use of Crypto to finance it.
Even tho it’s clear that most funding is generated through the Fiat System.
They took a look at Bitcoin, and are realizing that Bitcoin is not a good way to gather funds for terrorism due to it’s public blockchain being completely transparent, and the ability to track funds that are transferred on the chain.
Just the same they want to make a case against it, which will build public perception that the government needs to step up and regulate it.
Here comes the next attack on Bitcoin.
The Government says sure, you can have your Bitcoin. We will even allow an ETF to be created to Sell Bitcoin to the American public. The Government even has a nice stash of it that they confiscated from Silk Road and other enforcement actions taken against criminals using Bitcoin. They can sell that stash to Black rock without affecting the price of Bitcoin due to Over the Counter trading that does not go through exchanges.
The next action the government will take against Bitcoin, is to make Self Hosted Wallets Illegal. Now this is getting serious. Now Regulated exchanges, and ETF’s will be the only way you can hold Bitcoin. Now all movement of Bitcoin through these exchanges is much easier to trace, and also control where it can be sent to. The same way, and reason they also want to create a CBDC. On top of that, just wait and see what the Exchanges, and ETF managers do with Bitcoin in their possession. They will of coarse sell the public more Bitcoin then they really have. That’s how they can make a ton of money. Of course Congress men will have their hands in the pockets of these regulated exchanges to enrich themselves. What a wonderful windfall for them.
If you are a true Bitcoiner, you will be forced to work outside of the Law. You will not be able to move your self custody Bitcoin in and out of exchanges. You will only be able to trade, and move it among other Bitcoiners willing to operate undercover outside of the law. The time is now to make a stink with your lawmakers to prevent this from happening. Good Luck All!
The next attack on Bitcoin;
Congress is making a stink about Terrorism, and the use of Crypto to finance it.
Even tho it’s clear that most funding is generated through the Fiat System.
They took a look at Bitcoin, and are realizing that Bitcoin is not a good way to gather funds for terrorism due to it’s public blockchain being completely transparent, and the ability to track funds that are transferred on the chain.
Just the same they want to make a case against it, which will build public perception that the government needs to step up and regulate it.
Here comes the next attack on Bitcoin.
The Government says sure, you can have your Bitcoin. We will even allow an ETF to be created to Sell Bitcoin to the American public. The Government even has a nice stash of it that they confiscated from Silk Road and other enforcement actions taken against criminals using Bitcoin. They can sell that stash to Black rock without affecting the price of Bitcoin due to Over the Counter trading that does not go through exchanges.
The next action the government will take against Bitcoin, is to make Self Hosted Wallets Illegal. Now this is getting serious. Now Regulated exchanges, and ETF’s will be the only way you can hold Bitcoin. Now all movement of Bitcoin through these exchanges is much easier to trace, and also control where it can be sent to. The same way, and reason they also want to create a CBDC. On top of that, just wait and see what the Exchanges, and ETF managers do with Bitcoin in their possession. They will of coarse sell the public more Bitcoin then they really have. That’s how they can make a ton of money. Of course Congress men will have their hands in the pockets of these regulated exchanges to enrich themselves. What a wonderful windfall for them.
If you are a true Bitcoiner, you will be forced to work outside of the Law. You will not be able to move your self custody Bitcoin in and out of exchanges. You will only be able to trade, and move it among other Bitcoiners willing to operate undercover outside of the law. The time is now to make a stink with your lawmakers to prevent this from happening. Good Luck All!
Just as it is now, it’s our journey to consume information. To discern what’s this and what’s that, and decide what’s true and what’s not.
BTC Sessions with Ben
Good Idea, However! As soon as your Bitcoins leave your address’s and go somewhere else, then somebody wants to know how much you profited from the exchange. Lost at sea or not!
Thoughts about exchanging Bitcoin the other day! Our government wants to charge you Capital Gains on Bitcoin transactions. You bought it originally with Fiat money’s you earned, and were already taxed on. You own it now. Then you want to use it to buy something or exchange it for something else. Say that you want to exchange it for another Crypto (God forbid). The Government likes to think of it as, you sold the Bitcoin for Fiat, and then purchased the other commodity with the Fiat. If you did that, then OK. I would say that you are using their monetary system that they maintain, and they have a right to charge you a rent of using it. But you did not do that. You operated completely outside of their monetary system to make the trade thru an exchange and in my mind then they have no right to charge you rent to use their system. You could have traded the Bitcoin for Services or Products with someone that wants Bitcoin in exchange. Then again you did not use their monetary system for these exchanges. What if you had 4 chairs, and you wanted a bed. What if you found somebody that wanted 4 chairs that had a bed that you wanted. If you were to trade that person your 4 chairs for that persons bed, would your government want to charge you a tax on that transaction. If you exchanged for Fiat money and then the bed maybe OK, but in the example above you operated completely outside of the their monetary system, and therefore the government should not be charging you rent to use their system in the form of taxes.