Bitcoin....who's gotten into it?

**4matic** · 05-20-2021, 11:26 AM

Duplicate

**4matic** · 05-20-2021, 11:31 AM

Originally Posted by Pow4Brains

https://www.cnbc.com/2021/05/20/us-t...box=1621527563

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They waited till it was moving in the right direction. It’s just the first shot. They will find a business, exchange, or individual to indict sometime later.

**Bunion 2020** · 05-20-2021, 11:59 AM

Markets
U.S. Treasury calls for stricter cryptocurrency compliance with IRS, says they pose tax evasion risk

Wow...... Captain Obvious at the IRS. No Shit.

**byates1** · 05-20-2021, 10:45 PM

buying some xrp and xlm for the long term. both working w the fed on cbdc's.

**shera** · 05-21-2021, 02:46 AM

https://nymag.com/intelligencer/2021...-he-right.html

**MultiVerse** · 05-21-2021, 06:41 AM

I saw that NYMag article trending yesterday. It's full of factual errors. For example, the falsehood propogated by CoinShares that bitcoin is powered by hydroelectric has since been disproven. Renewables account for a tiny share of crypto mining. Miners don't like renewables because they need to run their hardware 24 hours a day to recoup their costs.

Bitcoin is a creature of fossil fuels—mostly coal, the dirtiest of them all. Most bitcoin is mined in China powered by coal. We know that's the case because last April a flooded coal mine in China's remote Xinjiang region led to a 40% drop in the network hashrate. Iran, a petrostate, accounts for another 10% of bitcoin mining. In America, miners have restarted old inefficient coal and gas plants in places like New York and Kentucky's rural coal fields have also become a big source of mining,

**Cono Este** · 05-21-2021, 06:53 AM

I’m using coin base, and it does not seem like there is a bid or offer, nor can I put in a limit order, which would have been nice a few days ago.

Anyone know where you can trade in a free market?

If I were a regulator I’d slap the cuffs on Coinbase.

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**jackstraw** · 05-21-2021, 06:59 AM

Originally Posted by Cono Este

I’m using coin base, and it does not seem like there is a bid or offer, nor can I put in a limit order, which would have been nice a few days ago.

Anyone know where you can trade in a free market?

If I were a regulator I’d slap the cuffs on Coinbase.

Sent from my iPhone using TGR Forums

I think you need Coinbase Pro bro

**Timberridge** · 05-21-2021, 07:10 AM

Anything you buy, always get the pro version.

**JimmyCarter** · 05-21-2021, 07:15 AM

Originally Posted by MultiVerse

I saw that NYMag article trending yesterday. It's full of factual errors. For example, the falsehood propogated by CoinShares that bitcoin is powered by hydroelectric has since been disproven. Renewables account for a tiny share of crypto mining. Miners don't like renewables because they need to run their hardware 24 hours a day to recoup their costs.

Bitcoin is a creature of fossil fuels—mostly coal, the dirtiest of them all. Most bitcoin is mined in China powered by coal. We know that's the case because last April a flooded coal mine in China's remote Xinjiang region led to a 40% drop in the network hashrate. Iran, a petrostate, accounts for another 10% of bitcoin mining. In America, miners have restarted old inefficient coal and gas plants in places like New York and Kentucky's rural coal fields have also become a big source of mining,

I just think it's funny that people point to the ARKK/square letter as proof that crypto is good for clean energy, when the whole thing is nothing but "this could" or "which might"

If we give a whole bunch of people AIDS, we'll greatly increase money going to AIDS research, so really giving people AIDS is the best way to get a cure!

**Skidog** · 05-21-2021, 07:45 AM

Originally Posted by JimmyCarter

I just think it's funny that people point to the ARKK/square letter as proof that crypto is good for clean energy, when the whole thing is nothing but "this could" or "which might"

If we give a whole bunch of people AIDS, we'll greatly increase money going to AIDS research, so really giving people AIDS is the best way to get a cure!

bwahahahaha...love the analogy...

**shera** · 05-21-2021, 07:57 AM

pro.coinbase.com

**Timberridge** · 05-21-2021, 08:50 AM

Can one pay Coinbase fees in Bitcoin or does one have to pay the old fashioned way in $?

**MultiVerse** · 05-21-2021, 09:07 AM

Coinbase fees are denominated in fiat. Coinbase also plans to issue BaseCoins pegged “stable coins” that act as bank notes so maybe fees will be payable that way too. To do so customers must clear KYL/AML (Know Your Customer / Anti-Money Laundering) so how crypto on exchanges differs from something like PayPal or any other banking is something of mystery.

For example, a dumbass used Coinbase to pay a hitman in bitcoin for wife's murder.

The FBI issued a subpoena to Coinbase for information about the wallets in question. The company then provided an immediate answer given the "threat to life"—an answer that included not only the transaction history of the wallets, but also the man's name and photos he had used to sign up for the service.

https://decrypt.co/70420/man-used-co...an-bitcoin-fbi

**Timberridge** · 05-21-2021, 09:24 AM

This is good info. So what I gather here is anyone paying for drugs, weapons, or illicit activities will still want to pay in cash and not crypto.

**Mustonen** · 05-21-2021, 09:30 AM

Ways to pay for things anonymously will continue to get pushed out to the fringes. As the example above illustrates, we as a society very much have an interest in being able to track and being able to reverse transactions.

**MultiVerse** · 05-21-2021, 09:30 AM

Cryptocurrency is useful for online extortion but you need to use a reputable service when laundering the bitcoin. Otherwise you risk falling into a government owned honeypot. The Russian/Eastern European pros cash out by literally cashing out using blind drops with bags of cash like you see in movies. Cash is still king.

**jm2e** · 05-21-2021, 09:48 AM

Originally Posted by Cono Este

I’m using coin base, and it does not seem like there is a bid or offer, nor can I put in a limit order, which would have been nice a few days ago.

Anyone know where you can trade in a free market?

If I were a regulator I’d slap the cuffs on Coinbase.

Sent from my iPhone using TGR Forums

I started with Coinbase and opened a Coinbase Pro account for the reasons you stated. My login/password are the same. Moving money back and forth is easy/quick/free.
It’s weird and frustrating. The Coinbase interface is very intuitive and is a great way to look at current values & trends. The Coinbase Pro interface is 180 degrees in the other direction. It took me a good while to figure out how to place limit orders, but now I’ve got it down.
I still bounce back to Coinbase if I want to see how things are doing. It’s far from perfect.

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**stalefish3169** · 05-21-2021, 09:53 AM

Interesting that China has now banned Bitcoin like 8 times, even twice in the last week. This can't be good for the narrative that China controls Bitcoin which is all mined using dirty dirty coal.

BTFD

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**MultiVerse** · 05-21-2021, 09:57 AM

China, Iran, and Russia are playing and dominating the long game in the world of cryptocurrency. China banned domestic usage, but still dominates production thus encouraging foreign speculation. A person should at least ask why would they do that?

**shera** · 05-21-2021, 09:58 AM

Hydro season is coming soon, I wonder if that plays into this news and price narrative somehow. Seems like price pushed down intentionally but why? I don't like the tinfoil hat approach to analysis, but I wonder.

**stalefish3169** · 05-21-2021, 10:23 AM

Originally Posted by MultiVerse

China, Iran, and Russia are playing and dominating the long game in the world of cryptocurrency. China banned domestic usage, but still dominates production thus encouraging foreign speculation. A person should at least ask why would they do that?

Honestly, I'm so sick of the narrative and fear we're fed to vilify other nations. It's not the ordinary citizens who dislike each other, it's the corrupt politicians and their donors. I think decentralization of their monetary weapons is a good way to reduce their power.

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**MultiVerse** · 05-21-2021, 10:28 AM

You don't have to be an apologist for governments to point out bad actors exist. The idea that bitcoin does away with politics or militaries or whatever is absurd. It's pure fantasy.

Because of course if a malicious actor came for assets purchased with crypto, even the most diehard crypto enthusiast would demand government intervention to protect their property.

**jackstraw** · 05-21-2021, 10:34 AM

Originally Posted by MultiVerse

https://decrypt.co/70420/man-used-co...an-bitcoin-fbi

More importantly, why or how does this exist and why can it not be tracked? wtf -

murder-for-hire website

**4matic** · 05-21-2021, 10:37 AM

Originally Posted by shera

Hydro season is coming soon, I wonder if that plays into this news and price narrative somehow. Seems like price pushed down intentionally but why? I don't like the tinfoil hat approach to analysis, but I wonder.

Free market demand when it goes up. Manipulation when it goes down.