Bits and Pieces - Coins to be AML Compliant
News, Rants and Thoughts
First
The idiots in Washington are feigning outrage at the utility of digital currencies. Fear better describes it. The dollar has been able to duck into the depths of many black markets for decades, but now that something is here and able to sideline the paper and ink, they suddenly need to legislate control over it.
The blatant ignorance of the bill put forth recently has many jaws dropping. The recent eight-hundred-dollar drop in the bitcoin price was also largely because ignorant investors ignorantly believe that ignorant law makers could ignorantly effect change on a scattered global team of developers, miners, and users.
Like a two-year-old thinks you can't see them because their little hands are on their eyes, so the corrupt farts in DC believe they have control over the the one free means of exchange that is global, secure, and unstoppable.
This reminds me of the days when they wanted to tax emails - some sort of digital stamp would do it. Fail
It is only reasonable that legislators would want bitcoin, and by extension, the other 700 + coins to be AML compliant. Totally doable.
Peek-a-boo!
Oh, you surprised me!
Where were you?
Oh, another laughable aspect contained in this bill is that you could be a criminal if you cross borders with your bitcoins. Got it! No crossing borders with my bitcoins in my pocket. I think I will delete my wallet and reinstall it when I get to my destination.
Can I borrow a stamp? I need to send an email.
Second
I really think that the massive rise in prices of all digital assets is a sign of a greater catastrophe on the horizon. Similar rises occurred when it was just bitcoin and litecoin - well, so to speak. Remember Cyprus? How about Greece four or five bail outs ago? Those were the days. It's called capitol flight.
The image story is about Pakistan where there is a shortage of paper trading notes. But it is happening in so many countries. Governments pull larger bills from circulation to keep them from flying out of the country. Citizens try to buy assets that are not made of paper and ink. So few have heard of digital currencies but yet there is an upward trend that will not stop.
The dollar government and its media machine has announced the false death of bitcoin at least fifty times over the years. They even arrested the CEO of bitcoin once. Can you say "ignorant"? Now they have announced a false law that they will be voting on. and on. and on. Some of you may have heard me talk about anonymity. It will be important one day for you. It is already very important to me.
Criminal acts legal now - perjury for one
Clapper, Clinton, and Comey
Vice Verse
While not doing anything illegal last month, last year. Now without changing normal routine a dingle bit - Criminal!
Third
The hard fork has changed things, hopefully for the better.
I know a lot of people are flexing a bit more muscle today. I myself made that one first vote today and saw myself slamming $130.00 down on that poor unsuspecting post. A bit scary.
I have my slider set to 10% now, and it still gives posts double what my old 100% did.
What?
I am trying to select a new winner for #takemyvotes - 7, but I am not sure what the prize will look like since the Steemit economy needs to be completely re-learned - yet again.
Open to ideas!
Thanks for taking time to read and resteem! 👍
Twitter: @at_htooms
Long time 🐟 turned 🐋 to have a voice.
📞 You're invited to steemspeak 📞
There are really those who wanted to suppress freedom. They never understand that everytime freedom feels suppression, rebellion will follow. They say they wanted peace but their method is more on trying to start chaos without them knowing it.
I used to have to deal with a lot of compliance / AML paperwork in my previous job, setting up trading accounts and bank account for an oil company.
It was all a sham, just to tick the boxes for them.
Agreed. The money I made on bitcoins is not dirty and it needs no laundering.
I say they can have a look at my records when they have tax money from the FARC in South America. The government needs to clean up its act. They also need to learn what they are dealing with in digital currencies before they shoot their mouths off.
India outlawed bitcoins and bitcoins prospered. Today, I heard they are wising up and making them legal (which is like asking bitcoin to allow them to tax it).
I don't know. I am so far outside that system now.
Indeed, they have cash from drug cartels, Iran, North Korea but they are focusing on bitcoin. Last year, charges against HSBC were dropped after the UK finance minister warned of a 'global financial disaster' if banks were prosecuted for laundering. https://www.theguardian.com/business/2016/jul/11/hsbc-us-money-laundering-george-osborne-report
Agreed, they probably want to legalize bitcoin so that they can try and tax it. If they find that they can't control it, they'll probably outlaw bitcoin like they did with online sports betting.
Don't worry.. The new Hardfork is going to be a blast, @htooms.
Resteemed. Hopefully I'll win one of your contents one of these days. Cheers!
@abn
Once the American congress is remain stable and continue to perform its functions, the dollar is safe, the USD is still the base currency of many goods and services, if you take that away, our financial system could crumble and its already shaky
"The idiots in Washington..." Amen! :D
i wonder how can they do due diligence to all users hehe :D Bom trabalho (good work) for this one!
You crushed it again! Desperate governments do desperate things. Whether they try to ban gold, digital currencies, or sea shells the government will do everything in their power to control the masses. The petrodollar is destined to fail and is only a matter of time. Who knows if the SDR or some other currency will replace it, but the time is coming.
Once the masses take part in the digital revolution all bets are off about prices!
It seems like the government wants to get all paper money out of circulation and force everyone to use their credit and debit cards. They may think they have full control at that time..
The times they are a-changin'
Good news!
This is the explanation of currencies especially for dollars and bitcoins, you feed them appropriately.
Good job @htooms
This reminds me off the fact that, a few months ago, they were searching for a way to tax the use of FB or Twitter LOL... These nanycrats are just insane.
But he, can't blame them... they need to keep a sinking ship afloat right!?
Great overview of the important topics of today! I'm really interested to see how the HF19 continues going forward. Right now it is working out great for us minnows, and we're spreading that wealth just like everyone else :)