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Is anyone else starting to become a bit worried? mod note in first post

Bear markets
Fud
Regulation
Wall Street manipulation
The supposed tether ticking time bomb

What are your thoughts? Have you cashed out? Have you been buying the dips?

MOD NOTE:
Its good to see healthy debate and discussion taking place and I am sure every supporter of cryptocurrency and blockchain can agree that the contrarian viewpoint is worthwhile reading, if only to act as an anchor and help prevent investors from getting carried away in an echo chamber of "everything is wonderful, just keep going"

However, there have been a few reported posts recently which I did not action as I wanted to see the thread level out itself rather than start forcing viewpoints and I have been in two minds about that decision.

I'm not going to single any posters out but I'm going to ask that all posters read the forum charter and I want to point out that it was established years ago in the Television forum, that dropping in on a forum to tell the followers of that forums topic (in that case a particular tv show) that it was all crap and only idiots watched it etc etc was the exact definition of being a dick and attempting to troll. I know this because I was the mod of the forum at the time. Now look at the forum charter again.

There is pretty much one rule on this forum : if you cannot discuss in a civil manner, and I mean discuss, not soapbox or attack, then you have absolutely no business posting here and I have no qualms about removing your ability to do so.

This forum is for people that have in interest in cryptocurrencies, blockchain and their application to financial investments. that can be positive or negative but if you really feel the need to start pulling out memes / hiding insults in imaginary hashtags / attacking personalities or just generally being a dick there are other forums you can post in where I will let the local mods determine if it is within the scope of allowable behaviour. Here, it is not.

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sexmag wrote: »

The last guy there before the break really seems to know his stuff and the question he asked weren't judgemental but the questions that needed to be asked, he was good and neutral

Agreed.

Time for the hang sandwiches and club orange

sexmag wrote: »

The last guy there before the break really seems to know his stuff and the question he asked weren't judgemental but the questions that needed to be asked, he was good and neutral

Yes Foster, he's a Blockchain Programmer. It's a pity him and Marcus can't thrash the whole thing out between them. Sherman is a nutter, making out Facebook is a greater threat to the US than Bin Ladins Al Qaeda

sexmag wrote: »

They love to use terrorism as a mic drop for any kind of power move they want to make

Once trailer trash America and the Gun nuts hear that they will be against crypto. It creates a lot of noise that they can use against crypto.

stockshares wrote: »

Yes Foster, he's a Blockchain Programmer. It's a pity him and Marcus can't thrash the whole thing out between them. Sherman is a nutter, making out Facebook is a greater threat to the US than Bin Ladins Al Qaeda

I'd like to have seen him answer that properly. It's important that Libra can be exchanged for Bitcoin. I would think they cant stop that but not sure how these wallets will work exactly. Remains to be seen.

As regards the terrorism stuff, that's going to be the excuse used to clamp down on any of this stuff (and more particularly Bitcoin). They're not bothered too much about decentralised crypto as it's not that big of a threat just yet. Libra is much more immediate.

Back on. Mrs Beatty is thick. She hurried Marcus into answering her question yet it took her ages to ask her question. Americans use 10 words where one will do.

"Rep. Brad Sherman (D-CA) — who made headlines when he called Bitcoin a “crock” during Wednesday’s hearing — has received more campaign donations during the current fiscal year from a digital payment processor than any other company, according to the Center for Responsible Politics."

https://www.google.ie/amp/s/www.ccn.com/bitcoin-is-a-crock-politician-received-biggest-donation-from-company-at-crypto-risk/%3famp

Gerald Obedient Manicurist wrote: »

"Rep. Brad Sherman (D-CA)— has received more campaign donations during the current fiscal year from a digital payment processor than any other company, according to the Center for Responsible Politics."

When it suits, right!?

Gerald Obedient Manicurist wrote: »

"Rep. Brad Sherman (D-CA) — who made headlines when he called Bitcoin a “crock” during Wednesday’s hearing — has received more campaign donations during the current fiscal year from a digital payment processor than any other company, according to the Center for Responsible Politics."

https://www.google.ie/amp/s/www.ccn.com/bitcoin-is-a-crock-politician-received-biggest-donation-from-company-at-crypto-risk/%3famp

Good find.

The repetitive Qs are putting me off. It's like when PAC questioned John Delaney. Can they not coordinate their questions so that they can actually get the answers they are looking for.

Mr. Sherman wrote:

46% of transactions are for illegal activities

That study he references spanned 2013 to 2016. What a pleb.
In other news: Napster vs the music industry - what will happen next?

Mr. Sherman wrote:

We went from the US dollar being linked to gold and we only printed number of dollars equal to the gold we had, to the dollar becoming valuable in and of itself and now we can print - how many dollars we print has nothing to do with how much gold we have in store

Valuable in and of itself. Funny turn of phrase, implies pure faith.

"Hey Brad, what backs the dollar?"

"Itself."

I'm loving these hearings, they should become a weekly thing.

grindle wrote: »

That study he references spanned 2013 to 2016. What a pleb.
In other news: Napster vs the music industry - what will happen next?

Valuable in and of itself. Funny turn of phrase, implies pure faith.

"Hey Brad, what backs the dollar?"

"Itself."

I'm loving these hearings, they should become a weekly thing.

They're great craic altogether. Id love to see Sherman versus Zuckerberg, it's Pay per View TV.

Shermans nuts for the Zuck Buck. I was trying to imagine him on the Iran Sanctions Committee. I'd say he wants to bomb it into oblivion. Thank God they're not all Hawks.

Foster is involved in Blockchain and Loudermilk is in Cybersecurity. Surely they could put the other Senators straight on what's going on.

The Party's have their own Agenda and some Senators were grandstanding.

Karma might get Facebook yet.
Libra might be a great thing but it might be stopped because of Facebooks previous misdemeanours with Privacy breaches and Tax evasion. They're not a well liked company and it appears some Politicians have it in for them.

stockshares wrote: »

Shermans nuts for the Zuck Buck. I was trying to imagine him on the Iran Sanctions Committee. I'd say he wants to bomb it into oblivion. Thank God they're not all Hawks..

He reminds me of a certain someone here in this thread with his sound bites

I just checked back and the hearings are still on. There's a Ms Demirors on now talking about BTC.

She's pro BTC and against Libra.

She's quite impressive in being an advocate for BTC.

One thing that's noticeable from this section of the hearing is how seriously the Politicians are taking crypto now and they seem genuinely interested in it if a little concerned. It seems Facebook is the enemy for all and the Politicians real concern is how to get control of Crypto and take control out of the hands of other countries and Facebook.

stockshares wrote: »

I just checked back and the hearings are still on.

5+ hours! The vast majority of negative comments are (justly) about Facebook being a scumbag company - most comments barring Sherman's have been positive or neutral towards crypto. Me likey.

I'm glad Mr. Gonzalez probed Marcus on the supposed push into a "permissionless" network. Can't happen because: Marcus said it wouldn't happen.

"Oh it'll be permissionless in the sense that permission must be seeked."

I'm fúcking sick of the word 'gentlewoman' at this stage - there are so many more women in government these days and I think I've found good reason to halt that progress. So clunky-sounding when it's said every 10mins.

grindle wrote: »

5+ hours! The vast majority of negative comments are (justly) about Facebook being a scumbag company - most comments barring Sherman's have been positive or neutral towards crypto. Me likey.

I'm glad Mr. Gonzalez probed Marcus on the supposed push into a "permissionless" network. Can't happen because: Marcus said it wouldn't happen.

"Oh it'll be permissionless in the sense that permission must be seeked."

I'm fúcking sick of the word 'gentlewoman' at this stage - there are so many more women in government these days and I think I've found good reason to halt that progress. So clunky-sounding when it's said every 10mins.

Gensler has just said that he thinks Libra is an ETF and recommended that if the Senate needs to find a gap to declare it an ETF then they should do so.

I missed his introduction so not sure what weight he has or what his background is.

grindle wrote: »

5+ hours! The vast majority of negative comments are (justly) about Facebook being a scumbag company - most comments barring Sherman's have been positive or neutral towards crypto. Me likey.

For what it is and who it involved, it's as much as I would or think I should hope for. There were a few tech savvy congressmen that seem pro (actual) crypto.

Sherman - not so much! Auntie Maxine - not so much.

A lot of the rest of them were grandstanding and giving Facebook a few kicks in the nuts. However, I think its odds on that they will get it over the line...and later they can make changes.

grindle wrote: »

I'm fúcking sick of the word 'gentlewoman' at this stage - there are so many more women in government these days and I think I've found good reason to halt that progress. So clunky-sounding when it's said every 10mins.

How about 'I'll yield to the chair' ?

The Chair Ms Waters and Mr McHenry gave a good closing statement. I had her wrong earlier, she seems fair but steely and more open minded than I thought.

Waters wants more hearings and to get Zuckerberg in. She wasn't pleased that Marcus didn't answer her question on a Moratorium or if he would accept regulation.

McHenry is positive on crypto and asked good Qs today and also pulled up Sherman on comparing the crypto threat to terrorism.

DeMirors did a good job on explaining BTC and how it differs from Libra.

I think it was good for crypto but early days. I'd love to see them get Zuck in. He won't get the easy ride he got previously from others.

This guy came across as the most pro crypto of the bunch. ...followed by McHenry and a couple of the more tech savvy congressmen.

makeorbrake wrote: »

This guy came across as the most pro crypto of the bunch. ...followed by McHenry and a couple of the more tech savvy congressmen.

Thanks for this, I missed him earlier. Its good to see Politicians get behind it and that the Hearing allows people to see this.

Now after they get Zuck all they need to do is take down Tether

stockshares wrote: »

Now after they get Zuck all they need to do is take down Tether

Getting Zuckerberg back in will just be political theatre.

As regards Tether, be careful what you wish for. It still serves a purpose in the industry and whilst we have moved on from the level of importance it had some 18 months ago, I'd like to see the sector expand further before they get taken out.

It remains a bit of a conundrum as there needs to be someone in the industry fulfilling that purpose. How we get that whilst still having certain checks and balances in place, I'm unsure of.

makeorbrake wrote: »

Getting Zuckerberg back in will just be political theatre.

As regards Tether, be careful what you wish for. It still serves a purpose in the industry and whilst we have moved on from the level of importance it had some 18 months ago, I'd like to see the sector expand further before they get taken out.

It remains a bit of a conundrum as there needs to be someone in the industry fulfilling that purpose. How we get that whilst still having certain checks and balances in place, I'm unsure of.

Surely USDC, Pax or Dai are better options.

Btw Meltem Demirors has a Podcast that's in the top 20 Business Podcasts.

It's on @WGMGpodcast on Twitter. You can find the link to the podcasts there.

I wasn't aware of her before today but she was impressive. Given her prominence today I think she's worth following.

I'll try and find some articles by McHenry, Lammer, Foster, Loudermilk etc. They were good today also.

Gensler although skeptical was measured and fair and seemed to really know his stuff.

stockshares wrote: »

Surely USDC, Pax or Dai are better options.

Remains to be seen...

Summary and replay of the hearing here
https://www.coindesk.com/lawmakers-amp-up-pressure-on-facebook-to-halt-libra-cryptocurrency-development

stockshares wrote: »

Summary and replay of the hearing here
https://www.coindesk.com/lawmakers-amp-up-pressure-on-facebook-to-halt-libra-cryptocurrency-development

"Finally, in a historic moment for bitcoin culture, Rep. Warren Davidson (R-Ohio) uttered the word “****coin,” almost certainly the first time a lawmaker has done so in the halls of Congress."

Lol

Im trying to catch up on reaction to the Hearing.

Apparently Facebook have not contacted the Swiss Regulator yet but at the hearing they said the Swiss would be regulating Libra.
https://cointelegraph.com/news/cnbc-facebook-has-not-contacted-swiss-regulators-on-libras-registration

stockshares wrote: »

Im trying to catch up on reaction to the Hearing.

Apparently Facebook have not contacted the Swiss Regulator yet but at the hearing they said the Swiss would be regulating Libra.
https://cointelegraph.com/news/cnbc-facebook-has-not-contacted-swiss-regulators-on-libras-registration

Yeah I saw that but I don’t think it’s a big deal at all. They basically said they will be regulated in Switzerland purely based on the fact that the association will be based in Switzerland, which is a fair comment to make. And on the other hand they are still too early in the projet to have started actual regulatory engagements, which seems very possible as well.

The Swiss regulator actually didn’t express any concern and just said they will be ready to work with Facebook if/when the time comes.

Bitmex under investigation
https://www.trustnodes.com/2019/07/19/rumors-cftc-investigating-bitmex-amid-speculation-of-market-manipulation

Bitmex under investigation
https://www.trustnodes.com/2019/07/19/rumors-cftc-investigating-bitmex-amid-speculation-of-market-manipulation

https://www.bloomberg.com/news/articles/2019-07-19/u-s-regulator-probing-crypto-exchange-bitmex-over-client-trades

stockshares wrote: »

Bitmex under investigation
https://www.trustnodes.com/2019/07/19/rumors-cftc-investigating-bitmex-amid-speculation-of-market-manipulation

this could very interesting and may cause a hit if it develops further!!!
ps has anybody looked at tixl would be interested to hear?

Pray for Justin Sun.

Justin Suns kidney stones
https://www.cryptoglobe.com/latest/2019/07/kidney-stones-force-justin-sun-to-postpone-lunch-with-warren-buffett/

Other news:
Uk Mps to look into Libra

https://www.fnlondon.com/articles/mps-to-scrutinise-facebooks-new-cryptocurrency-20190722