Author

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 12995. (Read 26716090 times)

legendary
Activity: 2604
Merit: 1748
I'm afraid once fiat conversion is unnecessary, they'll move the tracking to the actual goods, as they're already doing for assets with substantial value, e.g., cars, real estate etc - as pointed out several times in recent posts.

Exactly. And they'll even apply it retroactively:

http://www.cityam.com/264481/mystery-bankers-wife-losses-anti-corruption-order-appeal

Quote
The high-rolling wife of an anonymous banker has been defeated in her push to overturn efforts by the National Crime Agency (NCA) to make her reveal how she was able to afford properties in Britain worth £22m.

A High Court judge overturned an attempt by the woman, identified as Mrs A, to block the NCA’s use of one of its first-ever “unexplained wealth orders” (UWOs) – new powers to battle corruption which force owners of assets worth £50,000 or more to prove they acquired them legitimately.

The NCA’s order said that Mrs A – who is the wife of a banker from a non-EEA country – had to reveal the source of her income, or face having the properties taken away from her.

The new orders – which reverse the burden of proof, forcing those suspected of gaining assets through crime to prove they were legally obtained – came into effect in January.

The court was told Mrs A had made lavish purchases, including spending over £16.3m over a decade at luxury department store Harrods, and has access to fine wines, private jets and luxurious properties.

Russian oligarch's trophy wife, I would hazard a guess..?
legendary
Activity: 2604
Merit: 1748
Mike Novogratz - making Bitcoin price predictions like a drunk Vinny Lingham  Roll Eyes

https://www.cnbc.com/2018/10/03/bitcoin-wont-top-9000-by-years-end-former-hedge-fund-legend-novogratz-says.html

These guys have absolutely no idea, just like the rest of us  Tongue

You're right of course, Torque.  However, even though I actually think Novogratz is one of the better 'suits' in crypto, he has been so bad so far, he's actually become a decent contrary indicator.

So his 'no 9K this year' is pretty bullish.
legendary
Activity: 2282
Merit: 2057
A Bitcoiner chooses. A slave obeys.


Stay strong for Bitcocain is on our side! This Sideways action won't stay for long because it can't. Because I am out of booze and this is not fun right now. Some whale do something please! Anything! I am so boreeeed!!!!
legendary
Activity: 2145
Merit: 1660
We choose to go to the moon
I'm afraid once fiat conversion is unnecessary, they'll move the tracking to the actual goods, as they're already doing for assets with substantial value, e.g., cars, real estate etc - as pointed out several times in recent posts.

Exactly. And they'll even apply it retroactively:

http://www.cityam.com/264481/mystery-bankers-wife-losses-anti-corruption-order-appeal

Quote
The high-rolling wife of an anonymous banker has been defeated in her push to overturn efforts by the National Crime Agency (NCA) to make her reveal how she was able to afford properties in Britain worth £22m.

A High Court judge overturned an attempt by the woman, identified as Mrs A, to block the NCA’s use of one of its first-ever “unexplained wealth orders” (UWOs) – new powers to battle corruption which force owners of assets worth £50,000 or more to prove they acquired them legitimately.

The NCA’s order said that Mrs A – who is the wife of a banker from a non-EEA country – had to reveal the source of her income, or face having the properties taken away from her.

The new orders – which reverse the burden of proof, forcing those suspected of gaining assets through crime to prove they were legally obtained – came into effect in January.

The court was told Mrs A had made lavish purchases, including spending over £16.3m over a decade at luxury department store Harrods, and has access to fine wines, private jets and luxurious properties.
legendary
Activity: 4242
Merit: 5039
You're never too old to think young.
Good morning Bitcoinland.

Another day, another sideways... currently $6395USD/$8328CAD (Bitcoinaverage).

Ho hum, yawn, etc. Glad I don't have to worry about the price. It's more like checking the scores in sports.

I said I'd pull out my original investment when the price hit $4kCAD to buy some toys. That happened last year, except I only spent about half of what I put in so far. I still have to pay for my dental implants and new zirconia teeth, and build another house in Mexico. That should finish my original investment and  leave me with nothing but gravy.

That will leave me with new teeth, 3 properties and 2 houses in Mexico, and enough Bitcoin to live happily ever after. Of course the taxman also needs his cut, but only here in Canada. No taxes in Mexico. Even if the price drops to $4k, I'm still ahead of the game.

Life is good. Go Bitcoin go.
legendary
Activity: 2744
Merit: 1288
This should pump up the price of BTC pretty fast when those who are wanting to buy this petro coin are needing bitcoin to do so on Nov 5.
https://www.reddit.com/r/CryptoCurrency/comments/9kzzgv/due_to_hyperinflation_venezuela_goes_full_on/

Man that coin is full on shit coin.  I hear gazilion news about it for a year and all I know is that is or will be issued on NEM.  I can check 999 coins how are issued where and where are traded and at what price are traded and I never heard of them. Of Petro I heard so many times but zero useful information. Zero.

It is really sad that first country that decided to give crypto a try did it so unprofessionally.
legendary
Activity: 3388
Merit: 4775
diamond-handed zealot
nobody wants the petro
member
Activity: 340
Merit: 15
This should pump up the price of BTC pretty fast when those who are wanting to buy this petro coin are needing bitcoin to do so on Nov 5.
https://www.reddit.com/r/CryptoCurrency/comments/9kzzgv/due_to_hyperinflation_venezuela_goes_full_on/
full member
Activity: 308
Merit: 109
Bitcoin doesn't give a fuck what regulations we put on it. If it ever does, we'll just use Monero.

For crypto transfers, large or small, it's a good solution indeed. But if conversion to fiat is needed, it's back to KYC/AML one way or another.

You can convert to fiat without passing KYC/AML. I mean, you could potentially find someone that gives you a briefcase full of cash fiat for your crypto no questions asked. But you have not laundered anything as you end up with an "out of the system" briefcase full of cash that you can use for your daily spending but not for making a high value purchase (real estate, lambo, stocks, etc) without laundering it first.

Crypto does not solve the laundering problem nor really helps in tax evading in a significant way.


I think finally crypto will sneak in everyday trade and begin replace fiat. So need for krypto-fiat exchange will decline. First crypto will be used to buy un-tangible commodities like webhosting. Monero can already be used for it.
https://www.reddit.com/r/Monero/comments/9kk8ar/you_can_now_buy_webhosting_with_monero/

Well, problems will arise if the secret police looks account book and finds out the crypto to be used. But when the systems like file sharing, computing, AI and such will begin to buy and sell resources with other such systems, using cryptos, while they are unable to handle the momentary heavy load, there is no need to give receipts or write anything to account book. So there is no way to get busted.

And these purchases between the systems can happen millions in every second and they will ultimately be so significant for the operation of technology that it is impossible to interfere with them. Mankind just depends too much of them. Too big to fail.

Also, people could buy resources from decentralized systems by crypto. Again. No receipts no account books. No way to get busted.

One of these kind on could be a decentralized twitter or reddit. People could pay for the system to store their message for some period of time. After that the message is destroyed. The max strorage time could be one month. That is long time enough to to brake down the corrupted power of centralized twitter and such. Also, this way the storage size will not increase for ever.

Are there any of this kind of a service available?
legendary
Activity: 3794
Merit: 5474
Mike Novogratz - making Bitcoin price predictions like a drunk Vinny Lingham  Roll Eyes

https://www.cnbc.com/2018/10/03/bitcoin-wont-top-9000-by-years-end-former-hedge-fund-legend-novogratz-says.html

These guys have absolutely no idea, just like the rest of us  Tongue
legendary
Activity: 1891
Merit: 3096
All good things to those who wait
This will be Rosewater and all weak hands look, when Bitcoin recovers and reaches new ATH's.

I know that 6 digit price looks impossible now, but in several years it WILL become reality. Bitcoin is here to stay, for sure. With more and more Bitcoin atm's, there will be no need to convert to fiat.
legendary
Activity: 2758
Merit: 13660
BTC + Crossfit, living life.
legendary
Activity: 3388
Merit: 4775
diamond-handed zealot
laws always work better for the ownership class

just make sure you land on the right side of the fence
legendary
Activity: 2520
Merit: 3038
Bitcoin doesn't give a fuck what regulations we put on it. If it ever does, we'll just use Monero.

For crypto transfers, large or small, it's a good solution indeed. But if conversion to fiat is needed, it's back to KYC/AML one way or another.

In several years, I'm hoping we won't need fiat conversion. But yeah, we're pretty much stuck in KYC/AML hell until then.
I'm afraid once fiat conversion is unnecessary, they'll move the tracking to the actual goods, as they're already doing for assets with substantial value, e.g., cars, real estate etc - as pointed out several times in recent posts.

In other words:
Crypto does not solve the laundering problem nor really helps in tax evading in a significant way.
... but creative corporate accounting does. Boxes inside boxes, that kind of stuff.
legendary
Activity: 2660
Merit: 2868
Shitcoin Minimalist
Bitcoin doesn't give a fuck what regulations we put on it. If it ever does, we'll just use Monero.

For crypto transfers, large or small, it's a good solution indeed. But if conversion to fiat is needed, it's back to KYC/AML one way or another.

In several years, I'm hoping we won't need fiat conversion. But yeah, we're pretty much stuck in KYC/AML hell until then.
legendary
Activity: 1932
Merit: 1610
Self made HODLER ✓
Bitcoin doesn't give a fuck what regulations we put on it. If it ever does, we'll just use Monero.

For crypto transfers, large or small, it's a good solution indeed. But if conversion to fiat is needed, it's back to KYC/AML one way or another.

You can convert to fiat without passing KYC/AML. I mean, you could potentially find someone that gives you a briefcase full of cash fiat for your crypto no questions asked. But you have not laundered anything as you end up with an "out of the system" briefcase full of cash that you can use for your daily spending but not for making a high value purchase (real estate, lambo, stocks, etc) without laundering it first.

Crypto does not solve the laundering problem nor really helps in tax evading in a significant way.
hero member
Activity: 1848
Merit: 640
*Brute force will solve any Bitcoin problem*


Still, (I think) Bitcoin was not meant as a way to evade tax or capital controls but to be your own bank by having direct control of your money.


BTC might initially have had those former uses, but is steadily moving away from its experimental past, and that is a very big positive.

Regulations treating BTC as a mainstream asset, including AML and institutional KYC, are already essential at the fiat interface, but the treatment of transfers in crypto alone are a different question.

On one level, regulations about crypto transfers are defacto recognising it offically as money. That may not be a route that monetary authorities want to go down at present.

In most juristictions, all valuable assets are required to be registered in some way,and that usually is a positve in terms of ownership law and security. If BTC is outside that system it will always have a deficiency in terms of adoption and mainstream recognition.

I would envisage BTC and some other cryptos eventually coming within all of that, with most others remaining in the grey zone ,with the concomitant freedoms and also drawbacks of that status.

Surely the primary facet of cryptos (and the one for which BTC was born) is to provide a parallel monetary store and exchange system, as a refuge from the eventual insolvency of the current fiat regime ?

Over the long term, the free market should decide whether that is a worthy, recognised or necessary function.

Bitcoin doesn't give a fuck what regulations we put on it. If it ever does, we'll just use Monero.

bitmonero is just a clone of bytecoin :-D bwaahaha
legendary
Activity: 2520
Merit: 3038
Bitcoin doesn't give a fuck what regulations we put on it. If it ever does, we'll just use Monero.

For crypto transfers, large or small, it's a good solution indeed. But if conversion to fiat is needed, it's back to KYC/AML one way or another.
legendary
Activity: 2660
Merit: 2868
Shitcoin Minimalist


Still, (I think) Bitcoin was not meant as a way to evade tax or capital controls but to be your own bank by having direct control of your money.


BTC might initially have had those former uses, but is steadily moving away from its experimental past, and that is a very big positive.

Regulations treating BTC as a mainstream asset, including AML and institutional KYC, are already essential at the fiat interface, but the treatment of transfers in crypto alone are a different question.

On one level, regulations about crypto transfers are defacto recognising it offically as money. That may not be a route that monetary authorities want to go down at present.

In most juristictions, all valuable assets are required to be registered in some way,and that usually is a positve in terms of ownership law and security. If BTC is outside that system it will always have a deficiency in terms of adoption and mainstream recognition.

I would envisage BTC and some other cryptos eventually coming within all of that, with most others remaining in the grey zone ,with the concomitant freedoms and also drawbacks of that status.

Surely the primary facet of cryptos (and the one for which BTC was born) is to provide a parallel monetary store and exchange system, as a refuge from the eventual insolvency of the current fiat regime ?

Over the long term, the free market should decide whether that is a worthy, recognised or necessary function.

Bitcoin doesn't give a fuck what regulations we put on it. If it ever does, we'll just use Monero.
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