Y'all ready for FedCoin™?
- Thread starter TheDan
- Start date
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Only at small scale. If you're using public ledger crypto (most of them) and frequenting the same kiosks, you're creating a pattern that's easily identifiable, and a convenient physical location for them to ID and grab you. I bet those kiosks are automatically snitching, and if they aren't they are easily surveilled.
I wouldn’t make that bet. Look at Herocoin. Operated for 5+ years by a former bank employee who intentionally did not register as a money service business AND knowlingly did not comply with AML requirements while knowingly facilitating money laundering placement of at least $25 million.
O.C. Man Admits Operating Unlicensed ATM Network that Laundered Millions of Dollars of Bitcoin and Cash for Criminals’ Benefit
A Yorba Linda man has agreed to plead guilty to federal criminal charges that he operated an illegal virtual-currency money services business that exchanged up to $25 million – including on behalf of criminals – through in-person transactions and a network of Bitcoin ATM-type kiosks.
well... he got caughtI wouldn’t make that bet. Look at Herocoin. Operated for 5+ years by a former bank employee who intentionally did not register as a money service business AND knowlingly did not comply with AML requirements while knowingly facilitating money laundering placement of at least $25 million.
O.C. Man Admits Operating Unlicensed ATM Network that Laundered Millions of Dollars of Bitcoin and Cash for Criminals’ Benefit
A Yorba Linda man has agreed to plead guilty to federal criminal charges that he operated an illegal virtual-currency money services business that exchanged up to $25 million – including on behalf of criminals – through in-person transactions and a network of Bitcoin ATM-type kiosks.www.justice.gov
He was caught doing the face to face transactions.
This thread is as good as any of the 69 other crypto threads to pass this along:
Cryptocurrency-trading giant Binance said the accounting firm it used to verify its reserves has paused all work for crypto clients, hampering efforts to reassure customers that their money is safe…. A spokesman for the accounting firm said it had made the move “due to concerns regarding the way these reports are understood by the public.”
I’m guessing it’s going to get worse….
Probably paywall:
www.wsj.com
Cryptocurrency-trading giant Binance said the accounting firm it used to verify its reserves has paused all work for crypto clients, hampering efforts to reassure customers that their money is safe…. A spokesman for the accounting firm said it had made the move “due to concerns regarding the way these reports are understood by the public.”
I’m guessing it’s going to get worse….
Probably paywall:
Binance Says Accounting Firm Mazars Pauses Work for Crypto Clients
The decision from Mazars came as outflows from the cryptocurrency exchange swelled to $6 billion this week.
www.wsj.com
except this thread isn't about crypto...
CBDCs are not the same as cryptocurrency, but central banks love people conflating the two.
Also if you read the other 69 crypto threads, we've said you can't trust exchanges like eleventy billion times
BeatTheTunaUp
Fux with the best, Die like the rest
If Todd is getting stuff conflated, an idiot like me has no chance. My meager mind still says you won't be able to buy anything with it, if there is a financial collapse. You won't be buying any of my guns, ammo, food with bit coin or even cash for that matter. The only person it will have value with is another crypto collector. Good luck with that.except this thread isn't about crypto...
CBDCs are not the same as cryptocurrency, but central banks love people conflating the two.
Also if you read the other 69 crypto threads, we've said you can't trust exchanges like eleventy billion times
Lonesome Dove
A man of vision but with no mission.
I'll stay with real coins
AlteisenMkII
Active Member
I never liked the idea of digital currency its too unstable and unsafe. I'd rather stick to cash n coins.
So are both of mine!
It’s less I’m getting stuff conflated and just too lazy to figure out what the right thread is for this item, which is really a lot bigger than folks want to admit.
When a global accounting firm says “we need to take a step back because consumers don’t understand the product”, that’s a blaring risk indicator. More blaring than elevator operators talking about how they were making a killing in the stock market with leveraged assets in the months leading up to Black Friday.
I've said it before, Judge Judy is adamant that nobody keeps "large" amounts of cash at home.
And she's only talking about maybe $2k.
To be clear, the various cryptos are marketed as currencies, but are truly unregulated speculative concepts. Not unlike Special Purpose Acquisition Companies (SPACs), which sold themselves as venture capital opportunities for everyone. Those things were just junk bond equivalents to turn low interest money into a 10x return.
In hindsight, their results are worse than VC A rounds.
Like everything speculative, there will be a crash; the only question is whether any of it will be too big to fail and yet another taxpayer bailout for retards with not enough sense and too much credit, whether than individuals, funds, or corporations.
In hindsight, their results are worse than VC A rounds.
Like everything speculative, there will be a crash; the only question is whether any of it will be too big to fail and yet another taxpayer bailout for retards with not enough sense and too much credit, whether than individuals, funds, or corporations.
