CEO of a top Bitcoin exchange warns: crackdown on cryptocurrencies may be coming

Post by jayd16 » Mon, Apr 12, 2021, 7:47 PM UTC

liquidise wrote: post #4

> U.S. Treasury Secretary Janet Yellen and other officials have warned about the use of cryptocurrencies for illicit transactions. Wait until you hear about cash. More seriously (and hopefully less reductionist) i feel nations who embrace cryptocurrencies early will see mixed results as the landscape matures. I am more confident that nations which turn their back on it, or shut it out completely, will see a loss of o…

Post by bko » Mon, Apr 12, 2021, 7:51 PM UTC

kelnos wrote: post #109

liquidise wrote: post #4

> U.S. Treasury Secretary Janet Yellen and other officials have warned about the use of cryptocurrencies for illicit transactions. Wait until you hear about cash. More seriously (and hopefully less reductionist) i feel nations who embrace cryptocurrencies early will see mixed results as the landscape matures. I am more confident that nations which turn their back on it, or shut it out completely, will see a loss of o…

> Whatever your stance on cryptocurrencies are, what is of little dispute is the business opportunities they have created. Binance and Coinbase are large, successful companies. Poloniex was sold for ~400M. I find this argument a little weird, because I think we can all agree that bubbles and fad tech isn't really great for society as a whole. If you believe cryptocurrencies aren't a fad and actually provide useful be…

Post by noxer » Mon, Apr 12, 2021, 7:52 PM UTC

stefan_ wrote: post #149

noxer wrote: post #126

Earlier quoted context omitted.

I never said all-in Tether. Also you cant "cash out" a billion dollar of anything. Its completely absurd, no one has a bank account with a billion dollar on it. It also make zero sense to ever do that. Its completely irrelevant if that is or isn't possible with coin XY if there is nothing you could move it into. The only reason someone would cash out a billion is if he wants to invest it into something. What could th…

Eh, when the Archegos fund leveraged at $100B collapsed a few weeks ago, many banks cashed out many billions. It made the news because they gave lots of leverage to a big gambler, not because that event in any macroeconomic sense mattered at all.

Post by devmunchies » Mon, Apr 12, 2021, 7:53 PM UTC

xxxxxxx12 wrote: post #114

devmunchies wrote: post #102

Earlier quoted context omitted.

I liked the take from the Mayor of Miami (from a podcast about cryptocurrency): "they [governments] will have to borrow money like everybody else borrows money, they can't just print their own money. They have to borrow money at an interest rate. And if governments don't behave fiscally then they are going to have to borrow at worse and worse rates. They can't just invent their own interest rates and currency, which…

There is a (seemingly growing) number of people that openly say that the budget doesn't matter. You just print and spend. Fortunately this incentivizes finding ways to circumvent that regime and point out how absurd it is.

Post by jayd16 » Mon, Apr 12, 2021, 7:54 PM UTC

throwaway6734 wrote: post #82

liquidise wrote: post #4

> U.S. Treasury Secretary Janet Yellen and other officials have warned about the use of cryptocurrencies for illicit transactions. Wait until you hear about cash. More seriously (and hopefully less reductionist) i feel nations who embrace cryptocurrencies early will see mixed results as the landscape matures. I am more confident that nations which turn their back on it, or shut it out completely, will see a loss of o…

>Whatever your stance on cryptocurrencies are, what is of little dispute is the business opportunities they have created. Binance and Coinbase are large, successful companies. What business opportunities have been created outside of the crypto space? > i feel nations who embrace cryptocurrencies early will see mixed results as the landscape matures. They may also leave themselves open to these currencies being manipu…