David Rosenthal (aka DSHR): "To sum up, permissionless #blockchain technology is clever, but the economics of applying it to the real world are stupid for the reasons I published nearly 9 years ago. Centralization in the information ecosystem is a very serious problem, but it is driven by economics, not technology. So attempting to solve it with technology with inherent economies of scale is futile." https://blog.dshr.org/2023/04/crypto-my-part-in-its-downfall.html#cryptocurrency#bitcoin#fraud#decentralization
Ted Cruz says "I'm a Bitcoin investor personally. I have a standing buy order. Every morning I have a buy of Bitcoin that comes in... I own a little more than 2 BTC."
Per his STOCK Act disclosures he bought btwn 0.4 and 1.4 BTC in Jan 2022. Hasn't disclosed any purchases since.
He bought the remaining 0.6 – 1.6 BTC ($17,400 – $46,400) within the last 30 days
He's buying <$1,000 in BTC each week. As I understand it the STOCK Act only requires a Periodic Transaction Report of purchases >$1,000 (regardless of how often they're made, which seems like a crazy loophole!) But I could be wrong on this, please correct if so
This clip is from the Bitcoin Policy Summit, which is a "one-day, invite-only policy conference exploring Bitcoin as a strategic opportunity for the United States" that boasted Cruz, Sen. Cynthia Lummis, Rep. Tom Emmer, and former Rep. Tim Ryan as speakers.
Press Release- January 3, 2023: Superintendent Adrienne A. Harris Announces $100 Million Settlement with #Coinbase, Inc. after DFS Investigation Finds Significant Failings in the Company’s Compliance Program | Department of Financial Services
So, #cryptocurrency#investments are subject to #CapitalGains taxation, in the same way as stock investment. This is quite different from the #income tax paid for savings or your work income.
So, someone want to explain what's positive about #cryptocurrency and #defi again? I mean I have investments, and I can't think of a time where losing %50 across all my investments at the same time would be acceptible.... Much less being pushed to invest in something that doesn't exist, and even if it did, doesn't currently have any value.
Well, this is possibly the most positive story so far... Not that there was a #hack but that the company has responded well by trying to recover funds, and taking action against further attacks. Also of note, less than %30 was customer assets, and over %70 was company assets.
It doesn't do anything to alleviate the risks inherent in the #crypto market. But this one isn't as bad as the others.
My #Introduction
I’m an IT guy who got bored during the pandemic and somehow got popular on Tiktok talking about 3D printing, networking, #cryptocurrency ,#linux ,and #IT. I started a Twitch recently focused on #gamingonlinux and eventually console #gaming and Linux SBC and networking projects. I love #dogs and will mostly talk about tech, rarely do I mention political but it’s mostly cyber and privacy rights. Hope to get the printer working again soon. Also I make #music as a hobby sometimes
At the very least, find me a bank that does not invest in private prisons, #fossilFuels, or other right-wing politics. All client apps must be #FOSS & distributed outside of walled gardens like #Playstore. The bank must not block Tor or track users IP addresses/locations over the long term. It must not outsource any processing of customer data (e.g. no #Cloudflare). It must not offer car loans to city dwellers (#fuckCars). #askFedi (1/3)
The bank must not ban legal transactions such as buying/selling cryptocurrency. The bank cannot be cashless, or take any actions or lobbying to eliminate cash. If such a bank meets all this criteria, perhaps Bruce Schneier is right to say #cryptocurrency “has been a solution in search of a problem.” Otherwise, plz tell #BruceSchneier as polite as possible that he is full of shit (but don’t put much time into it b/c he will censor it). (3/3)
When someone of influence like #BruceSchneier writes¹ to #Congress, on behalf of everyone (the people), it’s a disaster for those of us who intend to live ethically -- to not support unethical banks (that is, all banks). It’s particularly destructive when the campaign financing of ½ of Congress came from #banks.
How many ppl are so blind as to not see the problems #cryptocurrency has solved?
Well, i think we've now hit the pinnacle of #web3 / #cryptocurrency with SEXN, a supposed "sex-to-earn" app. I just hope the many sex workers out there don't get sucked into and lose a bunch of their money. It's bad enough that sex work is demonized and sex workers marginalized in many countries... I really don't want them to be taken advantage of by #cryptobros
Wow - this has gone under-reported... #Crypto#Exchange Binance sharing personal info on Navalny supporters with #Russian#FSB related agency, and still doing business in Russia: