Since we are talking about Staking, wouldn't this be bad news to Ethereum and other Altcoins rather than being a problem to Bitcoin.
Also, I would like to add that the United States, unlike autocratic nations like China and Russia, the president or politicians in the highest positions of power cannot ban Bitcoin in an unilateral way, there is still separation of power. That means there would be likely appeals and counter measures to protect the right of the american people to buy, sell and hold Bitcoin and other digital assets.
Topic: How scary could the US SEC ban crypto staking be a sight? - page 2. (Read 249 times)
rumour (is speculative at the moment)
but lets act like the SEC does impose it:
only affects regulated businesses from being stake custodians(SEC limited jurisdiction)
people will find ways to privately syndicate (pool) their stakes of crap coins
if they cant find a trusted option to pool. then only the crapcoin rich will have the threshold to stake(solo staking). and all the penny holders wont be stakers
but lets act like the SEC does impose it:
only affects regulated businesses from being stake custodians(SEC limited jurisdiction)
people will find ways to privately syndicate (pool) their stakes of crap coins
if they cant find a trusted option to pool. then only the crapcoin rich will have the threshold to stake(solo staking). and all the penny holders wont be stakers
US citizens are always designed to protect. Therefore, they are acting in their citizens' responsibility. Nothing about a crypto prohibition in the US has been discovered to me. In any case, preventing staking isn't really terrible for Bitcoin. Holders of altcoins would suffer if staking was prohibited, which is bad news. However, some people will go to any lengths to attempt and discredit bitcoin. Actually, it makes no difference because Bitcoin is completely decentralized and won't affect FUD for a very long time.
Here's the source since OP didn't bother to provide it -=https://twitter.com/brian_armstrong/status/1623459203150131201 https://twitter.com/brian_armstrong/status/1623459203150131201
I view it as a good thing, PoS, web3 and other crypto inventions are just scams, and SEC is doing what it's supposed to do by shielding inexperienced investors from them. It's not like they plan to ban PoS coins, they just don't let exchanges that legally operate in the US to provide staking services. Crypto gambling addicts will still be able to gamble with shitcoins if they want to.
And most importantly, Bitcoin is not affected. And Bitcoin is the only cryptocurrency that matters.
I view it as a good thing, PoS, web3 and other crypto inventions are just scams, and SEC is doing what it's supposed to do by shielding inexperienced investors from them. It's not like they plan to ban PoS coins, they just don't let exchanges that legally operate in the US to provide staking services. Crypto gambling addicts will still be able to gamble with shitcoins if they want to.
And most importantly, Bitcoin is not affected. And Bitcoin is the only cryptocurrency that matters.
Why would it affect bitcoin though? If anything, it should be more bullish on Bitcoin because PoW is (currently) legal while staking through PoS is a slippery slope.
This is still a rumor, said Brain Armstrong, it is very hard to believe that this will become a thing because I don't see how they are going to get this done, but again, it is said that this will only happen in the United States of America.
OP, I believe this thread should be move to the altcoins discussion section, Bitcoin is proof of work by the way.
OP, I believe this thread should be move to the altcoins discussion section, Bitcoin is proof of work by the way.
- According to the ongoing rumours, everyone is scared of the crypto ban in the US.
- If the liquidity is reduced from the market then the crypto market retraces again.
The Hot Topic Staking Ban can be seen on everyone's lips. According to a recent tweet by Brain Armstrong, the head of the largest crypto exchange, crypto has become a matter of great concern for now. That said, the US SEC may close the stake in the United States.
If this happens then a scary effect can be seen on the crypto market.
Liquidity will decrease sharply
Volatility will also be less
Overall crypto market cap could be under $1 billion
BitcoinBTC could again move towards 52-week lows as the leader of the rest of the altcoins.
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