Quote from: Stompix on May 09, 2024, 04:43:51 PM

Fees are back to let's say acceptable levels for simple payments, meaning 1 input, and not buying a coffee.
The bad thing in this is that it also means usage is dead, the blocks are full of runes and ordinals, a ton of them are coinjoins, we had 100 fewer blocks in the last two weeks that would have cleared the patch down to 6sat/vb and it keeps dropping, so probably a lot of users have either gone altcoin or (hopefully LN) and you're not going to see them coming back too soon.

That's right, fortunately at this time there is not too much use of the Ethereum network, which makes Ethereum transactions run smoothly without any obstacles and makes the gas fees required very cheap. Hopefully gas fees like this will last for a long time.

No, I wouldn't say that. Ethereum always has a steady transaction volume, but these days you don't hear about transaction throughput that is as bad as Bitcoin's, because they have a higher TPS and block generation rate. In the past, it was an issue though (google CryptoKitties, which ironically reminds me of BRC-20) but I think the Ethereum developers have found a way to remedy that.

I think things are very Clear , since Elon is a fan of Doge, it is very obvious that Doge can , for me it would be great if he put Bitcoin, but the bad thing About Musk is that he hasn't talked much about Bitcoin and that causes Rejection , only DOGE, and Doge's Biggest Pumps are thanks to him, because basically when things become clear for these things it is Doge who would be the closest coin to this.

We, as connoisseurs of Crypto for years, know that as long as Musk supports Doge, then Doge will have life, and that will be something that can generate more trust Among Doge Lovers.

Naw, they're not clear.

You probably know that Twitter handles all payments via Stripe.

Stripe, as I've covered earlier, does not offer customers the option to buy their products or subscriptions with crypto, especially not DOGE. And they have no intention of doing so in the near future

So the decision to integrate DOGE into Twitter is not even in Twitter's hands. It is strictly for Stripe to choose to do, unless Elon wants to use another payment gateway.

There are hundreds of companies in the United States that continue to do business with Russia, which is "supposed" to be a sanctioned country. And I say "supposed" because money, at the end of the day, is still money, just like business. One thing is how governments want to project sanctions internationally for starting a war and quite another is what happens between companies in private, everything is hypocrisy.

What makes this case so special to them though is because this is a financial company offering payment services, it can be easily abused for money laundering by all sorts of sanctioned entities and then the SEC gets invoked, OFAC gets involved, and so on. There are a lot more "sniper feds" with the targets on fintech than most other industries.

To be honest on this matter, Democrats are more of an enemy to the whole cryptocurrency industry, at least compared to Republicans. Many of them actually do not have a comprehensive grasp of the industry and the positive impact that this industry can create if allowed to bloom with minimum government interference. Yet a lot of these Democrats were actually beneficiaries of the "kindness" of SBF by donating millions to their election coffers. I could not imagine what can happen to crypto if both the House and the Senate are controlled by Democrats. I am hoping that the White House will welcome back Donald J. Trump in January 20 and that both legislative bodies can be controlled by Republican lawmakers as the election in November is getting nearer. I am looking forward that a better and more viable regulatory framework can be established in the second term of Trump as he is known to be more open and friendlier to crypto than the senile Joe Biden who could not even define cryptocurrency and Bitcoin is.

Like I wrote in the chat - politicians hate crypto until they receive it.

But yeah, it certainly doesn't help that since Bitcoin was built on libertarian frameworks, the dems see it as "anti-government" currency that aids "cyber-criminals" that needs to be "regulated" (but hey please don't prosecute me for receiving customers' crypto from FTX I beg you  ).

I do not know about other countries, but I imagine that the situation is quite similar there.

I saw they are already preparing new law to ban such things and anything related with privacy, that only means their CBDC crap is going to be released very soon.
Think of them as ICO scammers who are selling junk, but trying to make it look good with whitepaper, while trying to kill competition before that.
Something seriously stinks here, they are in hurry and acting nervous, as if someone ordered them to do this quickly.
And don't get fooled thinking they will ever leave Bitcoin alone 

But even the normal people don't want to use CDBC. They think that it is too complicated ("why should I use that when Venmo/Zelle/Cash App works just fine for me?") and most are not at all interested in trying to learn complicated things that they don't understand like what a CDBC even is - they'll just think of it as yet another money account.

NSIAP, but worth reading (37 page .PDF from March 2023 courtesy of Cooper & Kirk, a law firm that sued FDIC, OCC & Fed over OCP1.0):

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This pattern of events is not random, and we have seen it before. This is not the first time that federal bank regulators, working with their State-level counterparts, have abused their supervisory authority to label businesses unworthy of having a bank account and worked in secret to purge disfavored lines of commerce from the financial system. Beginning in 2012, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Board of Governors of the Federal Reserve System carried out a coordinated campaign to weaponize the banks against industries that had fallen out of favor with the administration—including gun stores, pawn shops, tobacco stores, payday lenders, and a host of other brick and mortar businesses. That campaign was called Operation Choke Point.

Our firm successfully challenged Operation Choke Point, and it was brought to a halt. The current bout of regulatory overreach against the crypto industry is illegal for much the same as reason as its predecessor.

I have skimmed through the document and I was surprised to see that this law firm has experience with halting this kind of nonsense operation before.

Specifically though, the fifth point is the most decisive, I think. If prosecutors can prove that the regulators are hamstringing US crypto businesses so that Wall Street can have a competitive edge, the rest of the proceeding should be straightforward.

Wall Street banks have not been having a good time lately with Treasuries, I heard, so I guess they are raiding the sofa for more cash (and enterprises).

Trump is on a good start to his campaign by wooing the Cryptocurrency community.

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He highlighted the diverse nature of cryptocurrency and asserted, “If you are in favor of crypto, you better vote for Trump,” he declared.

I guess I better get used to the fact that this is how politics has always worked.

But does anyone know exactly what kind of things a second term of Trump would plan for crypto?

Certainly all the government-sponsored mixer attacks would stop, for one thing, but I want to know if there are any others.

When the market enter bear market, the money that was calculated that was loss from FTX exit was almost $8B but with the way the market has revive and has grown close to the previous all time high, it the market doesn't collapse, they should be able to make back the losses for creditors, atleast pay back people their money.

However, there is a challenge, people who hold coins on FTX exchange would want to have an equivalent money in quantity of coins and not in the amounts it worth before the collapse but if I'm a victim of FTX, I will rather accept the amount than wait for the quantity. I will sell into usdt and buy back when the market fall later in the future.

I imagine when they liquidate all that crypto, if they haven't already, it's going to cause a massive dip in the market price.

But anyway, I am pleasantly surprised at the outcome. I certainly was not expecting FTX to repay any of its victims, after we saw the long line of rug-pulls that happened in 2022.