Politicians Can Be Bought; Cryptocurrency Is Money
You do the math.
Everyone worried about regulations in the cryptosphere can put those fears to rest.
Coinbase is going to bat for everyone.
https://cointelegraph.com/news/coinbase-now-has-its-own-political-action-committee
https://www.ccn.com/coinbase-forms-political-action-committee-amid-uncertain-regulatory-climate/
Coinbase has formed its own political action committee. It's about time that we used the system's own corrupt ways in our favor.
Political Action Committee:
An organization that raises money privately to influence
elections or legislation, especially at the federal level.
That's right! We now have professional lobbyists on the ground-floor making sure that everything goes our way.
Perhaps Coinbase did this to only serve their own interests. Perhaps they did this only because they think the investment/hedge is worth the money. Regardless, intent is irrelevant. Coinbase's actions will benefit every coin on the market.
... and so it could be useful to establish dialogue with politicians and support candidates with a “light touch” regulatory ideology.
Coinbase has been known to do business in a very by-the-book manner. Being based in America, their fear of being sued or shut down is at an all time high. We can likely expect that they won't do anything too crazy.
However, I think we have to assume that other organizations will follow suit and form their own groups with the intention of bending the law to crypto's favor. With privacy coins making new leaps and bounds we can pay off any politician behind closed doors without anyone ever knowing about it. Unlike a suitcase full of cash it can be transferred anywhere on the planet in less than ten minutes for a negligible fee and no one is going to ask where the money came from.
This is yet another one of the many examples where potentially acting selfishly in this cooperative economy still ends up helping everyone else anyway. It feels nice when the big broken machine starts working for you simply because you can buy your way in.
Yesterday In India we just got news from government to regulate cryptocurrency.. By the way it's good news for Indians as before this news our exchange's bank accounts banned for crypto users transaction so that we can't buy or sell any coin with Indian Currency... There is a big politics behind this whole scenario..
Yes I follow the India situation very closely. It will be nice if we can bypass banks altogether. If blockchains start offering jobs directly and paying in cryptocurrency we can start unbanking the citizens of the world and cut out the fiat middle man.
Blockchain technology have potential to modify all the banking system with more fast transaction and in cheaper way.. But the government can't get any profit from it.. So they never accept this technology..
I disagree. I think cryptocurrency is smart money. Just like smart phones, they are good and useful for everyone.
I am going to go with this option as most likely. I am all for it though if it gets them to relax. I believe much of the hoops and crap we go through from the exchanges is them trying to tiptoe around the government out of fear of being squashed and maybe jailed. It will be curious to see if the politicians can act as a go between between their masters (the bankers) and the upstarts who would join them. Guessing since the bankers are getting in with the upcoming regulations that there will be a meeting of the minds after a a little fud to drive people to the upcoming monopoly Coinbase will be buying.
I'm not 100% sure about Coinbase's greed. They seem to be very particular about their actions. They refuse to do business with Ripple no matter how much free money gets thrown at them. They have a good referral system and they don't charge you anything to cash out to another platform. Also, they have 0% maker fees on trading... pretty solid.
I will admit most of my perception on Coinbase came from research at the beginning of the year. I read a lot of complaints about frozen accounts, not letting people withdraw money and demanding verification from accounts that had already verified, refusing all new verification's. The largest concern was reading the many reviews that said that months were going by with no response to help tickets.
Due to all of that, I held my breath as I used them as my conduit into crypto, quickly moving my coin to Binance where I had more faith in things being on the up and up. But I have to admit I had no issues the few times I used them, however, I have never tried to cash anything out through them.
Yeah I've never had a problem with Coinbase. They've always been awesome. I've dealt with a lot of poker sites that get the exact same kind of complaints. Usually when your money gets frozen it's because you were doing something strange... like buying in for $40,000 then trying to cash out for $50,000 the next week. Of course, the people complaining rarely ever tell you the shady thing they did to get their account flagged.
The simple truth is that crypto is becoming much more popular, and Coinbase is likely having major scaling issues. They aren't trying to steal people's money. They are just extremely overworked.
Binance is amazing as well. I would say it's the best centralized exchange in existence, but seeing as I can't turn my USD into crypto there yet Coinbase is my link to the outside world.
Coinbase and binance will be the two pillars of the crypto world, yes, they might be centralized, but we need a central structure to fight and defend a decentralized one, at least until we get enough momentum...
Privacy coins are the ones that got me worried... the fact that they can be used for these kinds of things makes me stay clear of them... the gov won't allow these kinds of things, or at least not a good gov, there aren't many but there are still some around the world that would fight against this type of things, (or at least i hope there are xD is the hole so big and deep that we don't even realize that we are in a hole?)
Binance actually has definitive plans for a decentralized exchange. I believe that BNB (Binance) coin will migrate away from ERC-20 and launch it's own mainnet based on this exchange. Investing in BNB is a really solid bet.
Yeah, love bnb and also kucoin shares! Just need more money to invest into it tbh...
For real... I'm still trying to get my hands on $600 for a Maker coin. I'd also like to get up to 2000 Steem Power and 100 EOS and 100 BNB. I guess I should put in more hours at my shitty job :D
Already have the 100 EOS xD actually aimed for 100 and got a little more just before the mainnet launch :P
I still need more 500 VEN and 1000 Smartcash for the smart rewards... after that depending on where we are at all this steemit 2.0 / ONO stuff i might drop some on STEEM to get to 1k SP...
The good thing about steemit is that even in a bear market i can make money through here and keep my portfolio with the same amount of money ( if we count in fiat ofc).
I've been selling everything i can, sold my 2 PSPs for 100 bucks, sold my Magic the Gathering cards for 100 bucks too, my Xbox 360 for 85 bucks... and still have a tablet to sell... stuff that i haven't used for many many moons, so i guess putting that money in the market is better then having the items just hanging around... and the psp actually went to africa to some poor kids, or at least that is what the men told me, he looked kinda creepy tbh...
Ice Cube dropped the knowledge.
Hi. %10 upvoted. if you send 0.05 sbd %100 vote and resteem (2760 Followers) Manuel upvote.
Great article, @edicted!