Thanks: 
Likes: Are you a proponent of the "Great Reset"?Originally Posted by RachelPayne
Having "One World Currency" would be disastrous!
Dislikes: 0
Are you a proponent of the "Great Reset"?
Having "One World Currency" would be disastrous!
Omertà
Useless technology that creates more problem that it solves when used as a currency.
Super useful technology when it comes to maintaining data integrity internally within an organization through satellites or outsourced computing farms, for example escrow funds or large transactions between banks.
So its a very niche technology, not what all the hype is about. That's speculative gambling to make a quick buck, and market manipulation enmasse.
Crypto scammers rip off billions as pump-and-dump schemes go digital
Listen to The Money Chant of the Wolves of Crypto.
You remember The Money Chant: Matthew McConaughey thumping his chest, talking fools and money before — sniff! — a little lunchtime “tootski.”
Titan Maxamus has been there. Well, not there, in a “Wolf of Wall Street”-style boiler room. There on the other side — as the mark. Titan Maxamus knows the game. All the brazenly cynical players do. In Scorsese’s cinematic bender of sex, drugs and stocks, it’s called the pump and dump. In today’s cryptocurrencies, it’s known as the rug pull.
Maxamus thinks he got rug-pulled the other month in some sketchy digital token called — wait for it — Safe Heaven. Like countless dreamers in today’s memeified markets, he’s been gambling US$50 here, US$100 there on what are known as Shit Coins, obscure digital something-or-others being minted by the thousands. This stuff makes Bitcoin look good as gold.
Crypto scammers rip off billions as pump-and-dump schemes go digital - BNN Bloomberg
did anyone tell you they appreciate you?
I do.
Idling colour developers are not healthy developers.
What are your thoughts on this video? As government moves to more digital forms of currency PM's could be a great barter option if needed. Also, I have avoided buying PM's with premiums for the most part, haven't purchased any recently with the premiums going sky high. PM's to me have always been a store of value, but with them constantly being rigged, it's hard to see sometimes.
Re: Anyone into Cryto currency?
Bitcoin has given hope to people who bought it in the not-too-distant past. But many forget about their wallets, and there may be considerable wealth lurking in them. Nowadays, scammers are hunting just such wallets, but sometimes they come across as active users. I recently encountered a problem where someone tried to hack me. I had already given up, but I found an article on bittrade.one, and it seemed like a great way out of this situation. I did everything according to the plan, and fraudsters' raids on my wallet stopped. It was amazing because now I continue to work in cryptocurrency without any obstacles. I like this style of earning.
Correct, silver should cost more than gold. It is actually used in manufacturing in hundreds of different ways. They say most of the gold that has been dug up is still here in the form of jewlery and such. Silver has come up some recently but for a very long time they say that it cost more to mine it than it was worth and that the silver that was comming out of the mines was the result of mining for other metals. If the silver market was truly based on supply and demand silver should be worth much more.
<br>
Correct, silver should cost more than gold. It is actually used in manufacturing in hundreds of different ways. They say most of the gold that has been dug up is still here in the form of jewlery and such. Silver has come up some recently but for a very long time they say that it cost more to mine it than it was worth and that the silver that was comming out of the mines was the result of mining for other metals. If the silver market was truly based on supply and demand silver should be worth much more.
I watched the video,I think they are right about a government digital dollars. But that is not the same as bitcoin. There are other coins that have the benefits of bitcoin but with faster transaction times and it is going to continue to get better. But even if you did all transactions with bitcoin,the government is still going to want their taxes. At some point they will probably take payment in bitcoin. Just like online purchases and now having to pay taxes on your purchases. The government is going to figure out how to get theirs.
The IRS has seized $1.2 billion worth of cryptocurrency this fiscal year – here’s what happens to it
- The U.S. government regularly holds auctions for its stockpile of bitcoin, ethereum, litecoin, and other cryptocurrencies it seizes and then holds in crypto wallets.
- It really kicked off with the 2014 takedown of Silk Road, a “dark web” marketplace trading in illegal goods, where bitcoin was often used for payment.
- Interviews with current and former federal agents and prosecutors suggest the U.S. has no plans to step back from its side hustle as a crypto broker.
In June, the U.S. government casually auctioned off some spare litecoin, bitcoin, and bitcoin cash.
Lot 4TQSCI21402001 – one of eleven on offer over the four-day auction – included 150.22567153 litecoin and 0.00022893 bitcoin cash, worth more than $21,000 at today’s prices. The crypto property had been confiscated as part of a tax noncompliance case.
This kind of sale is nothing new for Uncle Sam. For years, the government has been seizing, stockpiling, and selling off cryptocurrencies, alongside the usual assets one would expect from high-profile criminal sting operations.
“It could be 10 boats, 12 cars, and then one of the lots is X number of bitcoin being auctioned,” explained Jarod Koopman, director of cyber crime at the IRS.
Koopman’s team of IRS agents don’t fit the stereotypical mold. They are sworn law enforcement officers who carry weapons and badges and who execute search, arrest, and seizure warrants. They also bring back record amounts of cryptocash.
“In fiscal year 2019, we had about $700,000 worth of crypto seizures. In 2020, it was up to $137 million. And so far in 2021, we’re at $1.2 billion,” Koopman told CNBC. (The fiscal year runs through Sept. 30.)
As cyber crime picks up – and the haul of digital tokens along with it – government crypto coffers are expected to swell even further.
Interviews with current and former federal agents and prosecutors suggest the U.S. has no plans to step back from its side hustle as a crypto broker. The crypto seizure and sale operation is growing so fast that the government just enlisted the help of the private sector to manage the storage and sales of its hoard of crypto tokens.
Knowing what you don’t know
The 2013 takedown of Silk Road – a now-defunct online black market for everything from heroin to firearms – is where federal agents really cut their teeth in crypto search and seizure.
“It was totally unprecedented,” said Sharon Cohen Levin, who worked on the first Silk Road prosecution and spent 20 years as chief of the money laundering and asset forfeiture unit in the U.S. Attorney’s Office for the Southern District of New York.
Silk Road, which operated on the dark web, dealt entirely in bitcoin. It was good for users, because it promised them some degree of anonymity. Despite the reputational hit, it was good for bitcoin at the time, helping to pump up its price by giving the token a use case beyond programming circles.
When the government began to dismantle Silk Road, federal agents had to figure out what to do with all the ill-gotten bitcoin.
“There was a wallet with approximately 30,000 bitcoin in it, which we were able to identify and seize. At the time, it was probably the largest bitcoin seizure ever, and it sold for around $19 million,” said Levin.
“No one had ever done anything like it. In fact, there weren’t really companies that you could go to, in order to sell the assets. The Marshals Service stepped up and conducted their own auction of the assets where they took bids,” she said.
That bitcoin batch went to billionaire venture capitalist Tim Draper. “It seemed like a large sum of money at the time, but if the government had retained those bitcoins, it would be worth way more today.”
The cache of coins sold in 2014 would be worth more than $1.1 billion as of Wednesday morning. But hindsight is 20/20, and the government isn’t in the business of playing the crypto markets.
What this entire exercise did accomplish, however, was to establish a workflow that remains in place today; one that uses legacy crime-fighting rails to deal with tracking and seizing cryptographically-built tokens, which were inherently designed to evade law enforcement.
“I’ve just observed that the government is usually more than a few steps behind the criminals when it comes to innovation and technology,” said Jud Welle, a former federal cybercrime prosecutor of 12.5 years.
“This is not the kind of thing that would show up in your basic training. But I predict within three to five years...there will be manuals edited and updated with, ‘This is how you approach crypto tracing,’ ‘This is how you approach crypto seizure,’” continued Welle.
“Follow-the-money is not new. Seizure is not new. What we’re just doing is trying to find a way to apply these tools and techniques to a new fact pattern, a new use case,” he said.
Reply With Quote
Bookmarks