FAQs

expecting returns.

It seems like the SEC is up to their usual shenanigans. This time, they’re trying to set a legal precedent by lumping together a bunch of securities infractions. In the lawsuit, they claim that tokens such as Solana, Polygon, Cardano, Filecoin, Cosmos, Decentraland, Algorand, Sandbox, COTI, and AXIS are all securities. It looks like they’re serious about this rapid-fire approach, but it probably won’t hold up in court since they would actually have to argue that each project is a security. It’s more of a warning shot to show that they don’t like these tokens. There could be more tokens they have this opinion on, so we’ll have to wait and see.

For more information on the pros and cons of the topics listed above (Cardano, Polygon, and Solana), please see the collapsed comments below.

When Gary Gensler was appointed to the SEC, some crypto holders started to feel like their government was actively against them. Jokes were made about how Gary is a security due to someone “investing” in him and expecting returns. Others expressed sadness over the SEC’s decision to target their portfolios, saying “stop it SEC!” and “the SEC won’t let me be…”

It’s clear that the SEC’s decision to target these tokens has created a feeling of frustration and helplessness among crypto holders. It’s understandable why they would feel this way, but it’s important to remember that the SEC is just doing their job and trying to protect investors from fraud and abuse.

exchanges, not the miners, not the developers. As long as you do not trust them, you will be safe.

I’m determined to stay strong in the face of government FUD about crypto. This isn’t just about money for me, it’s a matter of principle. I may take a hit financially, and I may even stop buying until this situation sorts itself out. Governments have an interest in causing as much damage as possible before the election season starts and more voices are heard in support of crypto. I don’t think they’ll drag this into a campaign season, though.

The point is, no one has threatened our ability to hold crypto. It’s like testing a bus driver for DUI – it’s not a ban on public transportation, it’s just a way to make sure the people responsible for keeping us safe are actually doing it. The same goes for checking crypto exchanges for their ability to keep our coins safe. Don’t let anyone tell you that trusting strangers who want to make a profit off of you with your money is what crypto is about.

Cryptocurrency is based on distrust – we don’t trust anyone but the blockchain. Not the exchanges, not the miners, not the developers. As long as we don’t trust them, we’ll be safe. So I urge everyone to stay strong and not cave to government FUD. We can weather this storm, and keep enjoying the benefits of crypto.

just Credit Suisse CEO, because there are many banking CEOs who have said similar things about cryptocurrencies during the last couple of years.

It’s pretty funny to look back on the anti-crypto rhetoric that has come from banking CEOs in the past couple of years. Tidjane Thiam, Credit Suisse CEO, made a particularly notable statement at a press conference in November 2017 when Bitcoin’s price was hovering around $7,3k. He said Bitcoin was “the very definition of speculation and the very definition of a bubble”.

Fast forward a few years and things look very different. Credit Suisse, the bank Thiam was CEO of, had a dismal performance for years. The stock price was constantly dropping, and there were consistent annual decreases in revenue, net income, and assets under management. In a last-ditch effort to save the bank, it was sold for a low price to another investment bank in Switzerland.

Meanwhile, if you bought $1,000 of Credit Suisse stock and $1,000 of Bitcoin when Thiam made his statement, you would now have around $50 of their stock and around $4,350 of BTC!

It’s not just Thiam who made anti-crypto statements. Many banking CEOs have spewed similar rhetoric in the past couple of years. Despite their comments, it is clear that Bitcoin and other cryptocurrencies are here to stay.

It is important to remember the pros and cons of investing in cryptocurrencies. While the potential return is high, the risks can be high as well. Bitcoin is a volatile asset, and the market can quickly change. Research is important when considering investing in cryptocurrencies. It is also important to remember that, in the future, banking CEOs may make similar statements to Thiam’s, and it is important to take them with a grain of salt.

was sued by the US Securities and Exchange Commission (SEC), and Coinbase was also hit with some legal action.

I understand why it’s not wise to read too much into market movements, but I’m curious: What’s the speculative explanation for the price changes over the last few days?

My friend who works at Bitcoin explained that the Binance drop wasn’t very large, and Bitcoin remained resilient. He also said that the Coinbase lawsuit had already been priced in, so people were buying in because they thought there was nothing else the SEC could do to impact the market.

Bitcoin isn’t affected by any of this, and the CEO of Bitcoin tends to keep his head down. That makes sense when you look at the specifics of the lawsuits. The SEC is alleging fraud and misconduct at Binance, which could threaten the entire business if the lawsuit is successful. On the other hand, the SEC is only arguing that Coinbase trading in altcoins and staking without registration is illegal, leaving the core of Coinbase’s business intact. If this lawsuit succeeds, it would only impact the flow of money into altcoins, and potentially redirect some of that flow into Bitcoin.

I love Bitcoin because she’s a fickle mistress. I did my part to show her some love by adding another 0.09 to my collection.

wallets, but it is unclear if this is related to the current situation.

We’ve all heard the reports that Atomic Wallet has been compromised. With over 5 million users and many claiming to have had funds drained from multiple wallets, it’s clear something is going on. Atomic Wallet has yet to confirm nor deny whether this is the result of an attack or exploit, but it’s another reminder of how dangerous cryptocurrency can be. Thousands of people have already lost a lot of money without even making a mistake on their own.

It’s understandable to be scared when considering moving crypto funds. After 6 years of keeping my satoshis on a CEX, I finally decided to move them to a Trust Wallet. Although it was a challenge, it was worth the effort. After reading these kinds of reports, I’m even more scared. It’s time to start studying cold wallets and how to use them securely.

Back in April, there was a malware vulnerability reported on MacOS involving crypto wallets. It’s unclear if this is related to the current situation with Atomic Wallet, but it’s an important reminder to always stay safe when using cryptocurrency. Good luck out there.

no discussion on the sub about this yet.

The U.S. Securities and Exchange Commission (SEC) recently announced that it has filed charges against Binance and its CEO Changpeng Zhao (CZ) for operating an unregistered national securities exchange, broker-dealer, and clearing agency. The complaint also charges violations of critical registration-related provisions of the federal securities laws, such as the unregistered offer and sale of Binance’s own crypto assets, including a so-called exchange token, BNB, a so-called stablecoin, Binance USD (BUSD), certain crypto-lending products, and a staking-as-a-service program.

In response to the SEC’s complaint, CZ posted a tweet on Twitter expressing his disappointment and denying any wrongdoing, claiming that the SEC was trying to “paint Binance as a villain”. He also highlighted the fact that Binance had been working closely with regulators to ensure compliance and had taken steps to prevent U.S. customers from accessing Binance.com.

The SEC’s complaint also alleges that BNB and BUSD are securities and that Binance has been attempting to evade U.S. regulatory requirements by offering other crypto assets that are not registered with the SEC, such as SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS, and COTI.

The news of the SEC’s charges has sparked a lively debate on Reddit, with some users believing that the charges may be a good thing for the crypto space, as it could lead to more regulatory clarity and better protection of investors. Others, however, are concerned about the potential implications for Binance, as well as other exchanges that may be affected by the case.

Ultimately, it remains to be seen how the case will play out and what the implications will be for the wider crypto industry. Regardless of the outcome, it is clear that the SEC is taking a tougher stance on crypto exchanges and is determined to ensure that they are compliant with federal securities laws. This could lead to more robust regulatory frameworks in the future, which would benefit the industry as a whole.

It’s time to get rich!

I’ve been in the cryptocurrency game since 2017, and it’s been an incredible journey. I’ve made some small investments, but it’s been more about the ride than anything else. But the time has come for me to make a change.

Tonight, I’m selling the majority of my cryptocurrency, and it’s a bittersweet decision. On one hand, I’m sad to leave the crypto world behind. On the other, I’m excited to start a new adventure—buying a house!

It’s no secret that the market is currently in a valley. But if you’ve been following the trends, you know this could be the exact moment the bull run begins. And that’s why I’m selling, even though I’m not ready to give up on crypto yet.

I’m using the money from my cryptocurrency sale to put together a down payment on a house. I’m sure this isn’t the most popular decision, but it’s what I have to do. Hopefully, I’ll be able to buy back in with the same amount (or more) once my house sells.

In the meantime, I’m betting big that crypto will 10x in the next couple of months and I’ll be left out in the cold. But, if you’re feeling brave, why not join me in this risky venture?

Real estate isn’t as volatile as cryptocurrency, but it’s still a risk. It might not be full of rug pulls and memes, but it will give me a place to live—and that’s worth something.

If you’re still feeling jittery about the crypto market, don’t worry. There are still plenty of ways to get rich out there. Whether you stick it out or pivot to a new venture, it’s time to buckle up and make some money.

I’m a little sad to say goodbye to the crypto world, but it’s time to start a new chapter. Who knows, maybe I’ll be back in a few months with a brand-new house and a fresh stack of crypto. Until then, I’m ready to take one for the team and make that sale.

after criminals, the world would be a better place.

Today, I have some bad news to share. On June 26th, Binance announced that it will be disabling the trading of certain privacy coins on its platform in France. This is a measure taken by the company to comply with local regulatory requirements. The privacy coins that will no longer be available for trading on Binance in France are DCR, DASH, ZEC, ZEN, PIVX, NAV, SCRT, XVG, FIRO, BEAM, XMR, and MOB.

This announcement has caused a stir among crypto enthusiasts, as it appears to be a step backwards in terms of the regulation of privacy coins. It is believed that the local governments are taking this measure in response to the actions of bad actors, though it is worth noting that the use of cash FIAT is still more prevalent than the use of privacy cryptocurrencies.

The question now is whether this move by Binance will be limited to France, or whether other countries will adopt a similar stance. Unfortunately, it appears that this ban may soon be extended to other European countries, such as Italy, Poland and Spain.

In the face of this news, users have been advised to stock up on XMR before the ban takes effect. Additionally, it has been suggested that users should also turn on their CPU miners to ensure that XMR can still be mined. This demonstrates that despite the ban, XMR can still be used for its intended purpose – providing privacy for users.

Furthermore, it is important to remember that P2P and Defi will always exist. This means that even if trading on Binance is disabled, users should still be able to find other exchanges to trade with.

At the end of the day, privacy is a human right and it is unfortunate that governments are not respectful of this right. While it is understandable that governments want to take measures to prevent bad actors from using cryptocurrencies, it is important to remember that banning privacy coins is not the way to go. If governments truly wanted to create a better world, they would focus on only going after criminals rather than banning privacy coins.

much crypto?”

Pauly0x, a popular crypto influencer on Twitter, recently pulled off an astonishing feat. Just 6 hours ago, he posted his address along with a gif telling his followers they would get nothing. He even registered the ENS domain yougetnothing.eth. But his followers decided to flood his wallet with Ethereum (and other coins) anyway.

The crypto is flowing in like crazy. According to the current wallet snapshot, he’s received over 2600 incoming transfers, including 2x 10 ETH transactions, and 75 transactions of 1 ETH or more. In total, he has received 300 ETH.

Pauly0x has been posting memes all day and has a goal of earning $1m in crypto. When his TX history was exported, there were 2620 TXs and 2404 unique sending addresses, which shocked observers since they had assumed it was just a publicity stunt. It’s amazing to think that he was able to make $600k in just an afternoon, when most people would be happy to make a few hundred to a few thousand from farming moons every month.

It’s impressive to note that Pauly0x has 68k followers and usually around 400 likes on his posts, with around 100 RTs. This shows that even if people don’t believe it, they can still be motivated enough to send him crypto. Whoever believes this, believes in Santa Claus as well.

This amazing story of an influencer earning 300 ETH in just 6 hours has gone viral on crypto Twitter. It’s a reminder that anything is possible in the world of cryptocurrency. It also shows that it pays to be brave and take risks, as long as you’re properly informed and can back up your decisions.

is the top issue of the US. Crypto is probably a distant 10th.

It’s incredible to think that, of all the things that could have been discussed during debt ceiling negotiations, crypto was one of them. Education, healthcare and insurance, environmental issues, tax credits, electrification of vehicles and the grid, renewables, issues with China, BRICS, inflation, the recession, and Ukraine—all these and more are far more pressing issues than crypto.

It’s even more mind-boggling that, with the risk of defaulting on U.S. debt and plunging the world economy into chaos, crypto was chosen as a major point of negotiation. Granted, the other issues mentioned were given some attention, but to single out something like crypto as an important point of debate is highly questionable.

It’s true that crypto could be the future, but it’s still early days. Adoption isn’t widespread in the U.S., and the government has yet to provide clear and proper regulations like those in Europe and Canada. With the IRS chief saying tax evasion is the top issue for the U.S. in 2021, crypto is probably a distant tenth.

It’s difficult to fathom why the U.S. government would be so focused on crypto during debt ceiling negotiations when there are so many other, more pressing issues to consider. It’s time for the government to get their priorities straight and focus on the more important matters at hand.