cstand Posted July 28 Share Posted July 28 (edited) So Republicans are going to take millions in political donations from multi millionaire Bitcoin whales who actually only bought Bitcoin to avoid government control, for a guarantee that the government will buy 1 million BTC with borrowed/tax payers money to help drive up the price of Bitcoin. Even though it’s not a tier 1 asset as per Basel agreement 3 which is designed to stabilise countries against financial collapse 2008 style. 😳 But then again since the US seized Russian assets BRIC and other countries are dumping the US dollar and also taking their gold back. https://unherd.com/newsroom/is-gold-repatriation-bad-news-for-the-dollar/ Edited July 28 by cstand Stive Pesley 1 Link to comment Share on other sites More sharing options...
Archied Posted July 28 Share Posted July 28 (edited) Does make me smile this topic ,,, at 63 I’m still scratching my head about who is this person / entity that government s borrow money from and owe billions to ,, I’d like to be quid behind them 😂 wouldn’t it be good if they just said ,, right mate your knocked and spent on health , education, housing ect , would they send the boys round 🤔 Edited July 28 by Archied Rev 1 Link to comment Share on other sites More sharing options...
Stive Pesley Posted July 28 Share Posted July 28 On 27/07/2024 at 08:11, NottsRam77 said: Bitcoin is an open source public ledger…. Anyone anywhere on the planet who has a phone can view what moves where Cash is as shady as hell and until it hits bank account has zero tracability Slightly disingenuous. If BTC was so utterly transparent, it wouldn't be so heavily used by the criminal underworld. Yes the block chain is visible, but the addresses are anonymous, so it's very difficult to link a specific transaction to a specific individual Add to that the increasing popularity of decentralized tumblers which deliberately mix up transactions to make it almost impossible to trace the original transaction path. Whatever form currency takes, FIAT or crypto - those with power have a vested interest in making it untraceable On 27/07/2024 at 11:56, NottsRam77 said: I mean, just because the heavyweight corps are hoovering it up .. doesnt mean that joe public cant either.. its open source we can buy as much as we want / can afford its not a closed shop Again - not the whole story. Yes anyone can buy it but not at the level of the finco whales. To own one bitcoin Joe Public needs to have ~$60k sloshing around his change jar. Compare that to Blackrock buying 200,000 BTC or the link above about the US wanting to buy a reserve of a million BTC. And once they have that much, they can manipulate away And it literally is a closed shop when there is a finite number of BTC! Once they are all being held. What then? cstand 1 Link to comment Share on other sites More sharing options...
NottsRam77 Posted July 29 Author Share Posted July 29 On 28/07/2024 at 16:40, Stive Pesley said: Slightly disingenuous. If BTC was so utterly transparent, it wouldn't be so heavily used by the criminal underworld. Yes the block chain is visible, but the addresses are anonymous, so it's very difficult to link a specific transaction to a specific individual Add to that the increasing popularity of decentralized tumblers which deliberately mix up transactions to make it almost impossible to trace the original transaction path. Whatever form currency takes, FIAT or crypto - those with power have a vested interest in making it untraceable Again - not the whole story. Yes anyone can buy it but not at the level of the finco whales. To own one bitcoin Joe Public needs to have ~$60k sloshing around his change jar. Compare that to Blackrock buying 200,000 BTC or the link above about the US wanting to buy a reserve of a million BTC. And once they have that much, they can manipulate away And it literally is a closed shop when there is a finite number of BTC! Once they are all being held. What then? It was less than 1/3 of the current price when i started this topic. the price is irrelevent short term and the beauty is its all relative to what an individual can afford i dont own a whole bitcoin… no where near but the money i have invested in it over the last few years has increased in its value v nicely. there will become a time when people dont talk about their stack in relation to a bitcoin it will be denominated in sats Link to comment Share on other sites More sharing options...
NottsRam77 Posted July 29 Author Share Posted July 29 On 28/07/2024 at 16:40, Stive Pesley said: Slightly disingenuous. If BTC was so utterly transparent, it wouldn't be so heavily used by the criminal underworld. Yes the block chain is visible, but the addresses are anonymous, so it's very difficult to link a specific transaction to a specific individual Add to that the increasing popularity of decentralized tumblers which deliberately mix up transactions to make it almost impossible to trace the original transaction path. Whatever form currency takes, FIAT or crypto - those with power have a vested interest in making it untraceable Again - not the whole story. Yes anyone can buy it but not at the level of the finco whales. To own one bitcoin Joe Public needs to have ~$60k sloshing around his change jar. Compare that to Blackrock buying 200,000 BTC or the link above about the US wanting to buy a reserve of a million BTC. And once they have that much, they can manipulate away And it literally is a closed shop when there is a finite number of BTC! Once they are all being held. What then? You bitcoin holding will be measured in sats … and theres plenty of them to go around Link to comment Share on other sites More sharing options...
NottsRam77 Posted July 29 Author Share Posted July 29 On 28/07/2024 at 16:40, Stive Pesley said: Slightly disingenuous. If BTC was so utterly transparent, it wouldn't be so heavily used by the criminal underworld. Yes the block chain is visible, but the addresses are anonymous, so it's very difficult to link a specific transaction to a specific individual Add to that the increasing popularity of decentralized tumblers which deliberately mix up transactions to make it almost impossible to trace the original transaction path. Whatever form currency takes, FIAT or crypto - those with power have a vested interest in making it untraceable Again - not the whole story. Yes anyone can buy it but not at the level of the finco whales. To own one bitcoin Joe Public needs to have ~$60k sloshing around his change jar. Compare that to Blackrock buying 200,000 BTC or the link above about the US wanting to buy a reserve of a million BTC. And once they have that much, they can manipulate away And it literally is a closed shop when there is a finite number of BTC! Once they are all being held. What then? And cash isnt king in the underworld ???? Lol I work for a financial institution and even jo public who arnt part of the shady underworld pay in thousands and thousands of pounds collectively in cash for side line hussles that should be taxable events but they try to sneak under the radar. Kyc is becoming a bigger thing in btc circles as the financial world reluctantly accepts btc is now here to stay Link to comment Share on other sites More sharing options...
Eddie Posted July 29 Share Posted July 29 The actual value of bitcoin should have the cost of mining it - and the cost of removing the excess CO2 generated during mining - deducted. Crewton 1 Link to comment Share on other sites More sharing options...
NottsRam77 Posted July 29 Author Share Posted July 29 16 minutes ago, Eddie said: The actual value of bitcoin should have the cost of mining it - and the cost of removing the excess CO2 generated during mining - deducted. The cost of mining it is built into the price dont ask me how 😂.. but it is Link to comment Share on other sites More sharing options...
Stive Pesley Posted July 29 Share Posted July 29 1 hour ago, NottsRam77 said: And cash isnt king in the underworld ???? Lol I work for a financial institution and even jo public who arnt part of the shady underworld pay in thousands and thousands of pounds collectively in cash for side line hussles that should be taxable events but they try to sneak under the radar. Oh absolutely, I never said it wasn't - I just said that BTC is no better 1 hour ago, NottsRam77 said: Kyc is becoming a bigger thing in btc circles as the financial world reluctantly accepts btc is now here to stay Agree - I just opened a new savings account with a better rate of interest than my current one. Different Building Society, but one of the questions was to confirm that the money wasn't coming from Bitcoin! 1 hour ago, NottsRam77 said: You bitcoin holding will be measured in sats … and theres plenty of them to go around But it will end up being scraps the way things are going. If you feel like you have done well off a few sats - that only confirms quite how stacked the odds are in favour of those who hold millions of actual full bitcoins Link to comment Share on other sites More sharing options...
NottsRam77 Posted July 30 Author Share Posted July 30 (edited) 20 hours ago, Stive Pesley said: Oh absolutely, I never said it wasn't - I just said that BTC is no better Agree - I just opened a new savings account with a better rate of interest than my current one. Different Building Society, but one of the questions was to confirm that the money wasn't coming from Bitcoin! But it will end up being scraps the way things are going. If you feel like you have done well off a few sats - that only confirms quite how stacked the odds are in favour of those who hold millions of actual full bitcoins No way … they really asked that the money wasnt coming from bitcoin? i mean love to know the logic behind that say it was say u bought some at 20k … sold at 65k recently, paid ur CGT on it… whats the problem Youve made an investment and made money on it, youve declared it and paid the taxes on it Wow.. they really are threatened by it arnt they my reply would be its good enough for wall street to make money from its good enough for me too. Edited July 30 by NottsRam77 Stive Pesley 1 Link to comment Share on other sites More sharing options...
Tamworthram Posted July 30 Share Posted July 30 2 hours ago, NottsRam77 said: No way … they really asked that the money wasnt coming from bitcoin? i mean love to know the logic behind that say it was say u bought some at 20k … sold at 65k recently, paid ur CGT on it… whats the problem Youve made an investment and made money on it, youve declared it and paid the taxes on it Wow.. they really are threatened by it arnt they my reply would be its good enough for wall street to make money from its good enough for me too. I genuinely don’t claim to know the answer but isn’t it more to do with AML and traceability rather than CGT? Crewton 1 Link to comment Share on other sites More sharing options...
NottsRam77 Posted July 31 Author Share Posted July 31 21 hours ago, Tamworthram said: I genuinely don’t claim to know the answer but isn’t it more to do with AML and traceability rather than CGT? Oh without doubt it is Link to comment Share on other sites More sharing options...
Tamworthram Posted July 31 Share Posted July 31 1 hour ago, NottsRam77 said: Oh without doubt it is I’m not sure why you talked about CGT as an issue they shouldn’t be worried about. Link to comment Share on other sites More sharing options...
Stripperg-ram Posted August 1 Share Posted August 1 Can’t be bothered to read this whole thread, but anyone have any strong sense/feelings or dealings with Ada/Cardano? Link to comment Share on other sites More sharing options...
NottsRam77 Posted August 2 Author Share Posted August 2 On 31/07/2024 at 19:37, Tamworthram said: I’m not sure why you talked about CGT as an issue they shouldn’t be worried about. Cos the assumption is you have recorded and paid any taxs due but its an assumption Link to comment Share on other sites More sharing options...
NottsRam77 Posted August 2 Author Share Posted August 2 9 hours ago, Stripperg-ram said: Can’t be bothered to read this whole thread, but anyone have any strong sense/feelings or dealings with Ada/Cardano? Yes its a centrally controlled shitcoin u might as well go down the casino and lump it on red or black And this is exactly why i made this thread for when jo retail starts asking about which shotcoin he/ she should buy my advice to u my friend is u do read this thread or if not go and study bitcoin and shitcoins u will then find the answer to ur question im not saying this to be an arse, genuinely dont want to see any fellow ram lose money needlessly 🐏🐏 Stive Pesley 1 Link to comment Share on other sites More sharing options...
Tamworthram Posted August 2 Share Posted August 2 31 minutes ago, NottsRam77 said: Cos the assumption is you have recorded and paid any taxs due but its an assumption What’s that got to do with the extra questions Stive was asked when trying to open an account with a building society to which you were replying? The question must have been there for AML purposes not CGT. Crewton 1 Link to comment Share on other sites More sharing options...
NottsRam77 Posted August 2 Author Share Posted August 2 (edited) 7 hours ago, Tamworthram said: What’s that got to do with the extra questions Stive was asked when trying to open an account with a building society to which you were replying? The question must have been there for AML purposes not CGT. Banks / building societies want to know every last detail Source of funds , inside leg measurement, best mates mums phone number When i said it i think uv taken it too literally, as in i just said it as something that people would need to be aware of as a line of questioning if u were to declare its from crypto profits source of funds is always the first question theyll get het up on obviously Edited August 2 by NottsRam77 Link to comment Share on other sites More sharing options...
Tamworthram Posted August 2 Share Posted August 2 (edited) 1 hour ago, NottsRam77 said: Banks / building societies want to know every last detail Source of funds , inside leg measurement, best mates mums phone number When i said it i think uv taken it too literally, as in i just said it as something that people would need to be aware of as a line of questioning if u were to declare its from crypto profits source of funds is always the first question theyll get het up on obviously Fair enough. I just read your original response as CGT being an explanation as to why you thought the building society were asking if the money was coming from Bitcoin. I know a bit about banks and building societies having worked for well over 30 years in financial services (banking in particular) 😀. As you'll know, they are obliged because of various legislation (including Common Reporting Standard, AML and KYC) to gather a great deal of information from new customers. It's not a case of the banks being unnecessarily awkward or nosey. Edited August 2 by Tamworthram NottsRam77 1 Link to comment Share on other sites More sharing options...
NottsRam77 Posted August 2 Author Share Posted August 2 (edited) and so it begins As iv been saying the worlds broke. Only two answers im aware of is borrow more … becoming less of an option or try and inflated the debt away both options aren't good news for the rest of us. Edited August 2 by NottsRam77 Link to comment Share on other sites More sharing options...
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