Not the SEC, not an audit, just a currency transaction report sent to the IRS. In theory the IRS looks at them, but in practice they just use them as a data repository to look at whenever they want to build up a case of someone that's already on their radar.
People who still think Bitcion is currency of freedom and dont believe its under deep state control, need to think about the implication of this.
I had mentioned in multiple posts that, one way bitcoin can become like fiat currency (to some extent) is having the ability to float new coins, which at the offset seems impossible without having to do expensive mining, but what if the initial chunks of bitcoins (including the huge chunk owned by Satoshi himself) were kept as "reserve" so that whenever they need to dilute the bitcoin, they simply release a part out of these "unused" chunks?
Looks like my theory is paying out, lets see - I predict that even Satoshi's reserved blocks will eventually start coming into play.
Hmm interesting theory. On top of this, I'd imagine all of the bitcoin millionaires and billionaires whose wallets are "locked forever" after they "died" are probably actually in the hands of some deep state asset for this exact reason. Kill off a few bitcoin billionaire tech lords in silicon valley, and then use their accrued coins to dilute bitcoin's value when necessary.
Kill off a few bitcoin billionaire tech lords in silicon valley
Yeah, but in this case we have to assume that the CIA stole the wallet key from the billionaires OR CIA has the ability to crack the encryption.
Before you laugh me out of town for the second bit, consider that if CIA has access to a quantum computer, it would be pretty easy to beat some of the encryption - given some right conditions. I have always assumed this to be true - its also part of why bitcoin can be a DS currency - not only do they control these huge coin reserves, but they can also snoop and track what is supposedly untrackable.
Another thought - why has China been cracking on the crypto miners? Sounds like that is a white hat operation if our theory is correct.
Tether is to bitcoin as EFTs are to the stock market,
Would love to understand this a bit better. From what I know, Tether is kept pegged at a certain value basically by the ability of the issuer to keep buy / selling that that price and ensure there is liquidity. Am I right?
ETFs on the other hand are a basket of securities based on what they are for - but they are not pegged to anything. If that market crashes, the ETFs would crash as well. Is that correct ?
I'm going on some assumptions here, so bear with me. Regarding bitcoin, there are a number of wallet services that allow people to buy and hold bitcoin; most, particularly US-based services, have a simple and transparent ledger; Tether, by contrast, uses "tethers" as a proxy for currency but they grant tethers on credit, creating unfunded obligations that they exchange for currency. Due your own diligence, but the details are explained here: https://crypto-anonymous-2021.medium.com/the-bit-short-inside-cryptos-doomsday-machine-f8dcf78a64d3
ETFs are supposed to be a basket of assets that trades strictly at NAV of the underlying assets, essentially representing a tool of expediency for large-block traders. Recently on this board and the GME subreddits, it has been claimed that ETFs sell and trade on underlying assets but have a 6-day window before demonstrating that they actually possess the assets that ostensibly comprise that same ETF. This allows ETFs to abuse this reporting window by trading a block of assets without owning them until later, which is a virtual short sale. I don't have the links on that, but if you search this board for GME posts on the last few days, you'll find them. The insinuation is that this 6-day window has been abused so routinely that it has grown out of control, creating hot potatos of unfunded assets, including GME shorts and stocks, with the underwriters playing musical chairs with their ETFs hoping to catch up before the next settlement dates in a vicious cycle attempting to avoid getting caught. Until the music stops nobody knows who's been cooking and who's just been smoking.
Anyway, that's what I meant. Hope that helps.
TLDR- tethers are only guaranteed by the company Tether which seems to be totally unregulated and definitely risky, so a huge portion of crypto may be unfunded and backed by nothing; ETFs have a regulatory loophole that allows them to be used for gambling, and for doubling down on bad debts, so they may be hiding large unfunded liabilities that will crash the market eventually. "May" ... Do your own diligence because afaik these have not been reasoned but definitely not proven.
Any particular reason to think it's unlikely that a poor computer nerd who suddenly get super rich would take some of his new found wealth and buy something nice for himself, like a house, a fancy car and maybe a boat?
The deep state already have banks and plenty of other schemes to scam regular people of their hard earned wealth. Why would they need to waste valuable resources to reinvent what they already have?
Because, if you have been following the financial world, the Fiat currency is coming to an end. The scam is simply not sustainable because its a pyramid scheme - requires more and more debt every year until even the dumbest sleepy joe will wake up and say wat ??
They started with Gold, moved to Oil backed fiat and now crypto is their new answer. It will hit a dead end too, because a pyramid scheme is always a pyramid scheme, but its just them immediate solution, like everything else.
They have every chance in the world to create something that would actually benefit them, and allow them to continue to rip of the world. So why would they, invent crypto, which ain't even a complicated system. It's in fact so simple that most programmers could throw it together.
Take China's social credit system for instance, now that's a more government likely "solution" to the dying fiat problem, a replacement that allow them to control not just your wealth but also you.
You don't think anyone know about their scams or have ever attempted to solve it? There's been plenty of attempts, all with a central point of failure because they tried gold backed, oil backed etc etc. All it took was to kill the central authority and the new government free currency died.
These are all problems that crypto has solved, and there really is no other way to solve those problems than what's already has been done, it seems shady because MSM tells you it is, or because they interfere in every way they can to make it look shady. All to scare people away from it so they can replace it with something of their own.
Social credit was always planned for 2030, crypto came in 2009 and took them with their pants down. Look at the source code, and actual functionality. Don't trust fake news media.
10 grand triggers a flag, but rarely an audit unless there’s a pattern.
Not the SEC, not an audit, just a currency transaction report sent to the IRS. In theory the IRS looks at them, but in practice they just use them as a data repository to look at whenever they want to build up a case of someone that's already on their radar.
People who still think Bitcion is currency of freedom and dont believe its under deep state control, need to think about the implication of this.
I had mentioned in multiple posts that, one way bitcoin can become like fiat currency (to some extent) is having the ability to float new coins, which at the offset seems impossible without having to do expensive mining, but what if the initial chunks of bitcoins (including the huge chunk owned by Satoshi himself) were kept as "reserve" so that whenever they need to dilute the bitcoin, they simply release a part out of these "unused" chunks?
Looks like my theory is paying out, lets see - I predict that even Satoshi's reserved blocks will eventually start coming into play.
Hmm interesting theory. On top of this, I'd imagine all of the bitcoin millionaires and billionaires whose wallets are "locked forever" after they "died" are probably actually in the hands of some deep state asset for this exact reason. Kill off a few bitcoin billionaire tech lords in silicon valley, and then use their accrued coins to dilute bitcoin's value when necessary.
Yeah, but in this case we have to assume that the CIA stole the wallet key from the billionaires OR CIA has the ability to crack the encryption.
Before you laugh me out of town for the second bit, consider that if CIA has access to a quantum computer, it would be pretty easy to beat some of the encryption - given some right conditions. I have always assumed this to be true - its also part of why bitcoin can be a DS currency - not only do they control these huge coin reserves, but they can also snoop and track what is supposedly untrackable.
Another thought - why has China been cracking on the crypto miners? Sounds like that is a white hat operation if our theory is correct.
Tether is to bitcoin as EFTs are to the stock market, i.e., it is a potential bubble that can subvert the entire market.
Would love to understand this a bit better. From what I know, Tether is kept pegged at a certain value basically by the ability of the issuer to keep buy / selling that that price and ensure there is liquidity. Am I right?
ETFs on the other hand are a basket of securities based on what they are for - but they are not pegged to anything. If that market crashes, the ETFs would crash as well. Is that correct ?
I'm going on some assumptions here, so bear with me. Regarding bitcoin, there are a number of wallet services that allow people to buy and hold bitcoin; most, particularly US-based services, have a simple and transparent ledger; Tether, by contrast, uses "tethers" as a proxy for currency but they grant tethers on credit, creating unfunded obligations that they exchange for currency. Due your own diligence, but the details are explained here: https://crypto-anonymous-2021.medium.com/the-bit-short-inside-cryptos-doomsday-machine-f8dcf78a64d3
ETFs are supposed to be a basket of assets that trades strictly at NAV of the underlying assets, essentially representing a tool of expediency for large-block traders. Recently on this board and the GME subreddits, it has been claimed that ETFs sell and trade on underlying assets but have a 6-day window before demonstrating that they actually possess the assets that ostensibly comprise that same ETF. This allows ETFs to abuse this reporting window by trading a block of assets without owning them until later, which is a virtual short sale. I don't have the links on that, but if you search this board for GME posts on the last few days, you'll find them. The insinuation is that this 6-day window has been abused so routinely that it has grown out of control, creating hot potatos of unfunded assets, including GME shorts and stocks, with the underwriters playing musical chairs with their ETFs hoping to catch up before the next settlement dates in a vicious cycle attempting to avoid getting caught. Until the music stops nobody knows who's been cooking and who's just been smoking.
Anyway, that's what I meant. Hope that helps.
TLDR- tethers are only guaranteed by the company Tether which seems to be totally unregulated and definitely risky, so a huge portion of crypto may be unfunded and backed by nothing; ETFs have a regulatory loophole that allows them to be used for gambling, and for doubling down on bad debts, so they may be hiding large unfunded liabilities that will crash the market eventually. "May" ... Do your own diligence because afaik these have not been reasoned but definitely not proven.
Any particular reason to think it's unlikely that a poor computer nerd who suddenly get super rich would take some of his new found wealth and buy something nice for himself, like a house, a fancy car and maybe a boat?
The deep state already have banks and plenty of other schemes to scam regular people of their hard earned wealth. Why would they need to waste valuable resources to reinvent what they already have?
Because, if you have been following the financial world, the Fiat currency is coming to an end. The scam is simply not sustainable because its a pyramid scheme - requires more and more debt every year until even the dumbest sleepy joe will wake up and say wat ??
They started with Gold, moved to Oil backed fiat and now crypto is their new answer. It will hit a dead end too, because a pyramid scheme is always a pyramid scheme, but its just them immediate solution, like everything else.
They have every chance in the world to create something that would actually benefit them, and allow them to continue to rip of the world. So why would they, invent crypto, which ain't even a complicated system. It's in fact so simple that most programmers could throw it together.
Take China's social credit system for instance, now that's a more government likely "solution" to the dying fiat problem, a replacement that allow them to control not just your wealth but also you.
You don't think anyone know about their scams or have ever attempted to solve it? There's been plenty of attempts, all with a central point of failure because they tried gold backed, oil backed etc etc. All it took was to kill the central authority and the new government free currency died.
These are all problems that crypto has solved, and there really is no other way to solve those problems than what's already has been done, it seems shady because MSM tells you it is, or because they interfere in every way they can to make it look shady. All to scare people away from it so they can replace it with something of their own.
Social credit was always planned for 2030, crypto came in 2009 and took them with their pants down. Look at the source code, and actual functionality. Don't trust fake news media.