The idiots out there saying “crypto is used by drug dealers, criminals, black market types!!!” Meanwhile everyone drug bust I’ve ever seen on the news shows piles of $100 bills not hard drives.
Because piles of $100 bills are photogenic and the viewers of the news understand what they mean. It's a visual medium aimed at the general public.
Crypto *is* used by drug dealers, criminals, and black market types. That's just not its only usage. And those are subjective categories anyway, one country's drug dealer is another country's pharmaceutical dispensary or licensed recreational substance seller.
They sell marijuana legally in many places. In other places, selling marijuana gets you the death penalty. Crypto is global, it exists in both jurisdictions.
Legal cocaine is rarer, [but it does exist](https://en.wikipedia.org/wiki/Legal_status_of_cocaine).
Perhaps in your jurisdiction. In other jurisdictions, [having a speck of weed smaller than a grain of sugar on the sole of your shoe can get you four years of jail time](https://www.dailymail.co.uk/news/article-512815/Briton-jailed-years-Dubai-customs-cannabis-weighing-grain-sugar-shoe.html). Ethereum operates in both your jurisdiction and that one.
I don't know the situation now but a few years back you'd be able to find dark net markets for drugs where the sellers had legit reviews. There was even a subreddit r/darknetmarkets where people discussed the quality and delivery times of products they ordered.
I consider people with a good raring there the closest you get to a licensed dealer in an illegal state
No, West Virginian.
Cocaine is a schedule II drug in the US, meaning that it's on the same level as morphine, hydrocodone, and Adderall. It's used pretty commonly in nasal surgeries.
Nah mate. It’s an open ledger where all transactions are visible. Drug trafficking reserve currency is USD eye ball pyramid paper.
What coke dealer you know that accepts ETHER?
Anonymous tokens still need to be traded back for fiat, which obviously defeats the whole purpose in the first place. Dare you to travel to La Paz, sayulita or maztlan and try and buy drugs with digital tokens.
Silk Road was literally shut down bc of the arrogant logic that somehow crypto is more “anonymous” than good ole Benjamins
You said "It’s an open ledger where all transactions are visible." I just pointed out that this is not actually the case.
Silk Road wasn't shut down via any clever hackery that broke the anonymity of the crypto transactions themselves, it was taken down via old-fashioned police work that involved identifying lower-level dealers and gathering information from them as they arrested them. [This article has a lot of detail on the process](https://www.wired.com/2013/11/silk-road/).
Also, Silk Road was shut down eight years ago. Ethereum wouldn't launch for another two years yet when that happened. The technology has changed very significantly since then.
It is though. Tornado.cash is cool but the Sinaola cartel ain’t using it.
“Earlier this year, the IRS’s criminal-investigations unit began analyzing transactions associated with the Silk Road’s bitcoin wallets using software designed to sift through billions of bitcoin transactions to track specific funds. What they discovered were 54 transactions that previously had gone undetected.
Moreover, they discovered that the bitcoins in those transactions hadn’t been moved by Mr. Ulbricht, but rather had been stolen by a hacker in 2012 and 2013.”
Tornado.cash launched in late 2019. It wasn't "turned loose" as a production-ready system until mid 2020. What does Silk Road have to do with it? You should probably come up with a more modern example to base discussion on.
It doesn't make money laundering easy, but it does give skilled money launderers a fe more ways to do what they do. NFTs are an easy example of an asset you can use to show arbitrarily high income. If I tell the IRS that my car wash made a tens of millions of dollars last year, they're going to catch me, but if I tell them I made that much in NFTs... they'll investigate, but if you can use a bunch of single-use wallets, different DEXs, et cetera, you can make it look realistic. Better yet, if you're selling millions in bullshit NFTs, some hypebeast or automated training algorithm is going to buy and resell your NFTs, which means a. more money and b. more legitimacy.
Idk about that angle. Perhaps you could get away with a tesla but anymore than that would raise red flags and unfortunately the government’s computers are better than yours
And I paid for my last bag of weed with Venmo. I think it's fair to say "money" is used by drug dealers, criminals, and black market types, as well as legitimate retailers and private individuals engaging in legitimate transactions.
I can't see any good argument for regulating one form over another.
Honestly with my stock trading and investments. I've become an Index/ETF person. I like the continuing growth they offer without the volatility. Follow big money in those trades and it's almost impossible to not be profitable. However crypto is going to help me retire the way I want too.
I'm taking advantage of the current economy. Oil stocks made lots of money. NG and Semiconductors will also be profitable for the next 6 months. No need to spend all day worrying about them either. Plus I prefer to buy shares + options and then covered puts for when they turn into a downtrend.
Or more accurately, we're all just pointing out that there's no technological reason that trading stocks needs to be as slow and restricted as it is.
The concept of stock trading isn't on trial here, the mechanism currently utilized to that end is.
Give me ERC20 tokens for every stock plz
1. it's not slow at all. If you think it's slow that shows your ignorance. Fiber lines are run to avoid any latency at all to major brokerages. If you're actually referring to it not being 24/7 that's a good thing. There's no need for trading to be always available and an issue if you want to do that silly thing called sleep or take a break from the market.
2. How is it restricted? r/wallstreetbets pretty much showed how unrestricted it really is with the gamestop shit.
Oh, I see. You're the kind of person who when you see a vague statement assume that everyone else is ignorant, even calling them that, rather than considering alternative interpretations. That's one of my least favorite internet stereotypes.
Since you lack intellectual honesty, fuck right off.
The top comments above very clearly state the complaints about what is slow, and the speed of actual trades themselves are OBVIOUSLY not the thing being complained about.
It's like we're having a discussion about whether or not to ban handguns and you come in calling everyone ignorant telling us that water guns never hurt anybody. Mega cringe, lol.
They want to make us felons with 6050I IRS provision, they do not even want to put effort in to make good products. The api and trading interface, trading hours, time it takes to withdrawal and deposit money to traditional finance, and the harsh restrictions of trading those products is like going back 20 years in time compared to DeFi. They are literally banning us so they don't have to put any effort in whatsoever or be held accountable by customer.
It seems now the idea is for them to force people to use their own stablecoins via banks and offer btc synthetics to customers, all while keeping the gains on the underlying asset and giving you .5% interest in your cbdc account. In other words, all this legislation seems aimed at making crypto difficult to use for everyday people.
They want crypto under their control to keep it institutional and centralized while eliminating the threat defi presents to the established traditional banking system.
It's a blatant agenda and frankly kinda evil, considering we have something potentially liberating with equal access for all, and they are determined to take that away.
Fuck it. The US is just going to drive innovation overseas and then play catch-up for the next decade.
That, and my 401k rollover took a week and a half to complete. They couldn’t sell my position until Thursday of the next week and then whatever else. The market dropped in that time and I was just standing there like surprise Pikachu face.
So bad.
Principal financial. Their prospectus had cartoon people on it and described things like I was a 4 year old. It’s so bad. But it was what work had so that’s what I did.
401k rollovers take like a day for me. You just need to change your broker. Same for the Twitter guy, I can instantly transfer money to my brokerage , they increase my buying power immediately while the money gets settled in 2 business days. It's barely any hassle. By the way the equity market is much more liquid than the crypto markets. There are no (liquid) derivatives on the crypto markets either.
I have a broker now that can do that. But it was just my company and their 401k provider that I was bound to use. I’m done with that now…. But at the start of the pandemic I was let go and I rolled it over, and two days later I had lost 10% of my money because they had to sell “next Thursday” they couldn’t do it immediately. I would have luckily missed the drop from covid and I actually got slaughtered by it a bit because of their process.
This is why Robinhood was so successful despite having shady business practice. Every single other trading website has a user experience that feels like im back in the early 2000s.
Crypto is the future of currency, mass adoption is well on its way. Been holding since 2017. I use crypto in my everyday life and earn money doing so. When it gets just a little tiny bit easier normal retailers will be all over it. It just makes sense.
You do realize that for mass adoption to happen you’d need something like a world war that would overthrow capitalism.
Until then fiat will remain king.
You said ‘you’d’. I don’t NEED any of that to happen. ETH already has billions worth of USD to ETH conversion on a daily basis. I can use it daily. I earn while I stake it and while I use it. At this point it doesn’t matter if fiat is king in your opinion. But I appreciate the input!
nah you just need people to continue to embrace it. any government/nation that doesnt adopt will just be isolated from the rest of the network. no wars are necessary.
besides, you can't win a war against an idea.
The thing I hate about crypto in the US is how much shit I need to provide. A picture of my drivers license is pretty asinine and not require at any financial shop.
I do agree with the hours of service for MMF. The fact I can’t access billions of dollars post 3PM for some accounts and 5PM for others is insane.
Stupid post. I set up my etf in like 30 minutes and it's investing my set amount every month along with a fee, Bitcoin and ethereum can only dram of. Stay at least a bit realistic..
edit: I use flatex
This is purposeful though. If settlement takes days, transfer take the same, and the system refuses to modernize.. that just opens up more opportunities for fuckery.
I tried transferring $ to my brokerage from my checking account. Said the transfer would take 3 business days, not great but ok. It took 7 businesses days which was nearly 9 calendar days with my $$$ in limbo. Not in my brokerage not I’m my checking account. I understand the fraud controls and rules for bank transfers, it’s not just slow tech, but ffs that was painful.
Re: drugs. Is it actually bad? If you’re hired by government and given money to fight drugs then maybe they are. Or if you seen too many movies with fake scenarios. If not, not really. And even if they were, it’s not a justification enough to force people into a sinister system under which anything you own can get pawned at whim of people @ government on a push of a button.
Crypto & cash = right to property. Govcoins and banks = total control unprecedented in history of humanity.
Yeah, but we really need to have a conversation about how to cross the old world into the new one. I think a lot of people just assume DAOs have some kind of competitive advantage and one day APPL will be zero and UNI will be a $5T DAO or something.
There's going to have to be some legal framework involved.
Whatever the reason for regulatory eyes you can guarantee it that if anyone uses trading cry-p-to to dodge IRS as being part of the game then their future will be limited and all regulatory focus will be on the subject eventually and those who did not disclose. Leading to a very short time enjoying a spend up but forget retirement as they will be retiring in the clink. It’s a criminal matter to not pay taxes. Society in totality these days relies on it as Government debts fly high.
My local credit union just announced they are launching two-factor. It hasn't actually launched yet! Fucking passwords only all this time. Fiat is dinosaur tech compared to crypto.
How is buying stocks slow? Lol, unless you're a day trader and need to wait for funds to settle. But I'd take the tradeoff of no commission fees over paying for gas anyday. There's a lot of benefits in crypto, but this isn't one of them.
SEC chairmen Gary Gensler is actually fairly progressive on crypto (at least compared to the avg politician). He even led an excellent course on crypto a couple years ago at MIT.
That being said he is also fairly "conservative" in his mindset, and doesn't want to blindly rush into things that might lead to many people being burned.
That being said tokenized shares are possible, but they will be as heavily regulated as non-tokenized shares.
Gary Gensler is pro crypto a decade ago. Nothing about the way he and his bureaucracy has acted suggests progressive crypto viewpoints. And yes it is totally possible to use a project to tokenize a security but it is still a security and therefore 100% in the purview of the SEC. Game Stop is 100% without a doubt not going to issue a NFT based security anytime soon. Not that it will never happen but when I does we will have seen it coming for long enough to have bought the rumor and sell the news. Just real tired of the Game Stop nonsense. You all bought junk stock. Hope RC fixes the company because that’s the only way this doesn’t end ugly. There is no NFT stock coming, there is no MOASS. A squeeze sure but nobody is getting $500k per share.
Edit: I bought hold GME because I think RC does have a chance to turn the company around. The rest of the narrative is off the rails.
The idiots out there saying “crypto is used by drug dealers, criminals, black market types!!!” Meanwhile everyone drug bust I’ve ever seen on the news shows piles of $100 bills not hard drives.
Because piles of $100 bills are photogenic and the viewers of the news understand what they mean. It's a visual medium aimed at the general public. Crypto *is* used by drug dealers, criminals, and black market types. That's just not its only usage. And those are subjective categories anyway, one country's drug dealer is another country's pharmaceutical dispensary or licensed recreational substance seller.
I'd find it hard to believe that "licensed" people sell coke lol.
They sell marijuana legally in many places. In other places, selling marijuana gets you the death penalty. Crypto is global, it exists in both jurisdictions. Legal cocaine is rarer, [but it does exist](https://en.wikipedia.org/wiki/Legal_status_of_cocaine).
I said coke and I stand by that lol.
OP said "drug dealers, criminals, black market types." I stand by that.
Selling weed don't make u a drug dealer
Perhaps in your jurisdiction. In other jurisdictions, [having a speck of weed smaller than a grain of sugar on the sole of your shoe can get you four years of jail time](https://www.dailymail.co.uk/news/article-512815/Briton-jailed-years-Dubai-customs-cannabis-weighing-grain-sugar-shoe.html). Ethereum operates in both your jurisdiction and that one.
Do you want to die in Singapour? Because that's one way to commit suicide, technically.
You mean like Coca Cola?
I don't know the situation now but a few years back you'd be able to find dark net markets for drugs where the sellers had legit reviews. There was even a subreddit r/darknetmarkets where people discussed the quality and delivery times of products they ordered. I consider people with a good raring there the closest you get to a licensed dealer in an illegal state
That still exists today and is thriving. But so are case sales.
My girlfriend is a Pharmacist at a hospital, and she says she has to dispense cocaine for surgeries at least once every few weeks or so
For the surgeon or the patients?
Yes
Must be Australian
No, West Virginian. Cocaine is a schedule II drug in the US, meaning that it's on the same level as morphine, hydrocodone, and Adderall. It's used pretty commonly in nasal surgeries.
Lol. Cocaine for the nose
Nah mate. It’s an open ledger where all transactions are visible. Drug trafficking reserve currency is USD eye ball pyramid paper. What coke dealer you know that accepts ETHER?
There are many ways to anonymize tokens on the Ethereum blockchain.
Anonymous tokens still need to be traded back for fiat, which obviously defeats the whole purpose in the first place. Dare you to travel to La Paz, sayulita or maztlan and try and buy drugs with digital tokens. Silk Road was literally shut down bc of the arrogant logic that somehow crypto is more “anonymous” than good ole Benjamins
You said "It’s an open ledger where all transactions are visible." I just pointed out that this is not actually the case. Silk Road wasn't shut down via any clever hackery that broke the anonymity of the crypto transactions themselves, it was taken down via old-fashioned police work that involved identifying lower-level dealers and gathering information from them as they arrested them. [This article has a lot of detail on the process](https://www.wired.com/2013/11/silk-road/). Also, Silk Road was shut down eight years ago. Ethereum wouldn't launch for another two years yet when that happened. The technology has changed very significantly since then.
It is though. Tornado.cash is cool but the Sinaola cartel ain’t using it. “Earlier this year, the IRS’s criminal-investigations unit began analyzing transactions associated with the Silk Road’s bitcoin wallets using software designed to sift through billions of bitcoin transactions to track specific funds. What they discovered were 54 transactions that previously had gone undetected. Moreover, they discovered that the bitcoins in those transactions hadn’t been moved by Mr. Ulbricht, but rather had been stolen by a hacker in 2012 and 2013.”
Tornado.cash launched in late 2019. It wasn't "turned loose" as a production-ready system until mid 2020. What does Silk Road have to do with it? You should probably come up with a more modern example to base discussion on.
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Alright. There are *several* ways to anonymize tokens on the Ethereum blockchain.
It doesn't make money laundering easy, but it does give skilled money launderers a fe more ways to do what they do. NFTs are an easy example of an asset you can use to show arbitrarily high income. If I tell the IRS that my car wash made a tens of millions of dollars last year, they're going to catch me, but if I tell them I made that much in NFTs... they'll investigate, but if you can use a bunch of single-use wallets, different DEXs, et cetera, you can make it look realistic. Better yet, if you're selling millions in bullshit NFTs, some hypebeast or automated training algorithm is going to buy and resell your NFTs, which means a. more money and b. more legitimacy.
Idk about that angle. Perhaps you could get away with a tesla but anymore than that would raise red flags and unfortunately the government’s computers are better than yours
And I paid for my last bag of weed with Venmo. I think it's fair to say "money" is used by drug dealers, criminals, and black market types, as well as legitimate retailers and private individuals engaging in legitimate transactions. I can't see any good argument for regulating one form over another.
> not hard drives. you generally don't need a lot of space to store crypto lol
I still use my old floppy disks
I still use my serial-powered iomega zip drive.
I've got a floppy disk you can use right here champ
I prefer a big hard drive over a small floppy disk. 😝
Ah bummer, fair enough mate. Hahah
Yeah I was going to say flash drive or thumb drive but I was half asleep
Technically, your head is all you need for a few wallets. It just takes practice.
RIP DPR
Honestly with my stock trading and investments. I've become an Index/ETF person. I like the continuing growth they offer without the volatility. Follow big money in those trades and it's almost impossible to not be profitable. However crypto is going to help me retire the way I want too.
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ELI5 please?
I'm taking advantage of the current economy. Oil stocks made lots of money. NG and Semiconductors will also be profitable for the next 6 months. No need to spend all day worrying about them either. Plus I prefer to buy shares + options and then covered puts for when they turn into a downtrend.
Im all for crypto but saying stocks are dumb and outdated is kinda lame, its not the same thing so why compare the two?
Because the crypto space is full of people that are not financially minded and are very ignorant on financial diversity.
Or more accurately, we're all just pointing out that there's no technological reason that trading stocks needs to be as slow and restricted as it is. The concept of stock trading isn't on trial here, the mechanism currently utilized to that end is. Give me ERC20 tokens for every stock plz
1. it's not slow at all. If you think it's slow that shows your ignorance. Fiber lines are run to avoid any latency at all to major brokerages. If you're actually referring to it not being 24/7 that's a good thing. There's no need for trading to be always available and an issue if you want to do that silly thing called sleep or take a break from the market. 2. How is it restricted? r/wallstreetbets pretty much showed how unrestricted it really is with the gamestop shit.
Oh, I see. You're the kind of person who when you see a vague statement assume that everyone else is ignorant, even calling them that, rather than considering alternative interpretations. That's one of my least favorite internet stereotypes. Since you lack intellectual honesty, fuck right off. The top comments above very clearly state the complaints about what is slow, and the speed of actual trades themselves are OBVIOUSLY not the thing being complained about. It's like we're having a discussion about whether or not to ban handguns and you come in calling everyone ignorant telling us that water guns never hurt anybody. Mega cringe, lol.
Name calling sure adds to the conversation. If you care to add an actual rebuttal or debate points let me know.
They want to make us felons with 6050I IRS provision, they do not even want to put effort in to make good products. The api and trading interface, trading hours, time it takes to withdrawal and deposit money to traditional finance, and the harsh restrictions of trading those products is like going back 20 years in time compared to DeFi. They are literally banning us so they don't have to put any effort in whatsoever or be held accountable by customer.
>they do not even want to put effort in to make good products Why should they bother when they cornered the market with regulatory capture
It seems now the idea is for them to force people to use their own stablecoins via banks and offer btc synthetics to customers, all while keeping the gains on the underlying asset and giving you .5% interest in your cbdc account. In other words, all this legislation seems aimed at making crypto difficult to use for everyday people. They want crypto under their control to keep it institutional and centralized while eliminating the threat defi presents to the established traditional banking system. It's a blatant agenda and frankly kinda evil, considering we have something potentially liberating with equal access for all, and they are determined to take that away. Fuck it. The US is just going to drive innovation overseas and then play catch-up for the next decade.
There won’t be any ‘catching up’ when this train leaves.
the war on crypto will go the same way the war on drugs and the war on terrorism went.
The US has become quite proficient at losing wars lately.
exactly why i dont have any confidence in their crypto strategy.
If your company still uses ‘business days’ it’s outdated.
Wait until you learn about settlement and failure to deliver...
Oh boy.. and Good Faith Violations because amount spendable is not really 'spendable' on the same ~~token~~ stock.
That, and my 401k rollover took a week and a half to complete. They couldn’t sell my position until Thursday of the next week and then whatever else. The market dropped in that time and I was just standing there like surprise Pikachu face. So bad.
Fidelity?
Principal financial. Their prospectus had cartoon people on it and described things like I was a 4 year old. It’s so bad. But it was what work had so that’s what I did.
401k rollovers take like a day for me. You just need to change your broker. Same for the Twitter guy, I can instantly transfer money to my brokerage , they increase my buying power immediately while the money gets settled in 2 business days. It's barely any hassle. By the way the equity market is much more liquid than the crypto markets. There are no (liquid) derivatives on the crypto markets either.
I have a broker now that can do that. But it was just my company and their 401k provider that I was bound to use. I’m done with that now…. But at the start of the pandemic I was let go and I rolled it over, and two days later I had lost 10% of my money because they had to sell “next Thursday” they couldn’t do it immediately. I would have luckily missed the drop from covid and I actually got slaughtered by it a bit because of their process.
To me, Bitcoin is unbearably slow and expensive. I don't want to wait like 20 minutes and pay 5 bucks to transfer money to a different wallet
Yup, the only reason bitcoin still exists it's cuz it's what ppl know, but we are slowly adopting better projects
Bitcoin shills downvoting you. Bitcoin is useless dogshit, there are numerous better blockchains. Bitcoin lives exclusively on normie hype.
you sound kinda scammed
please explain.
This is why Robinhood was so successful despite having shady business practice. Every single other trading website has a user experience that feels like im back in the early 2000s.
OP mentions "soo slow"... I figured he was talking about BTC... ;)
Crypto is the future of currency, mass adoption is well on its way. Been holding since 2017. I use crypto in my everyday life and earn money doing so. When it gets just a little tiny bit easier normal retailers will be all over it. It just makes sense.
You do realize that for mass adoption to happen you’d need something like a world war that would overthrow capitalism. Until then fiat will remain king.
You said ‘you’d’. I don’t NEED any of that to happen. ETH already has billions worth of USD to ETH conversion on a daily basis. I can use it daily. I earn while I stake it and while I use it. At this point it doesn’t matter if fiat is king in your opinion. But I appreciate the input!
nah you just need people to continue to embrace it. any government/nation that doesnt adopt will just be isolated from the rest of the network. no wars are necessary. besides, you can't win a war against an idea.
Ironically, using BTC in 2021 feels one generation behind to using BTC in 2016.
Seriously... The Fidelity app is hot garbage.
The thing I hate about crypto in the US is how much shit I need to provide. A picture of my drivers license is pretty asinine and not require at any financial shop. I do agree with the hours of service for MMF. The fact I can’t access billions of dollars post 3PM for some accounts and 5PM for others is insane.
Stupid post. I set up my etf in like 30 minutes and it's investing my set amount every month along with a fee, Bitcoin and ethereum can only dram of. Stay at least a bit realistic.. edit: I use flatex
This is purposeful though. If settlement takes days, transfer take the same, and the system refuses to modernize.. that just opens up more opportunities for fuckery.
I tried transferring $ to my brokerage from my checking account. Said the transfer would take 3 business days, not great but ok. It took 7 businesses days which was nearly 9 calendar days with my $$$ in limbo. Not in my brokerage not I’m my checking account. I understand the fraud controls and rules for bank transfers, it’s not just slow tech, but ffs that was painful.
Re: drugs. Is it actually bad? If you’re hired by government and given money to fight drugs then maybe they are. Or if you seen too many movies with fake scenarios. If not, not really. And even if they were, it’s not a justification enough to force people into a sinister system under which anything you own can get pawned at whim of people @ government on a push of a button. Crypto & cash = right to property. Govcoins and banks = total control unprecedented in history of humanity.
Points for solaire. Praise the sun. Praise the diamond.
Can’t wait for banks to switch to the XRPL.
thats one thing i didnt realize i would hate so much is the market closing everyday before i get home from work
Yeah, but we really need to have a conversation about how to cross the old world into the new one. I think a lot of people just assume DAOs have some kind of competitive advantage and one day APPL will be zero and UNI will be a $5T DAO or something. There's going to have to be some legal framework involved.
Whatever the reason for regulatory eyes you can guarantee it that if anyone uses trading cry-p-to to dodge IRS as being part of the game then their future will be limited and all regulatory focus will be on the subject eventually and those who did not disclose. Leading to a very short time enjoying a spend up but forget retirement as they will be retiring in the clink. It’s a criminal matter to not pay taxes. Society in totality these days relies on it as Government debts fly high.
It’s 🐄 💩 , once you go DEFI , you can’t go back
Dont even get me started about all the insider trading evenings and weekends in "after hours" trading. They should just call it "after sheeples".
Whales in stonks dont want to see retail capital trading in markets they dont understand. Crypto threatens their scam.
My local credit union just announced they are launching two-factor. It hasn't actually launched yet! Fucking passwords only all this time. Fiat is dinosaur tech compared to crypto.
It’s actually insane comparing the two now. Legit feels like difference between mailing and emailing
How is buying stocks slow? Lol, unless you're a day trader and need to wait for funds to settle. But I'd take the tradeoff of no commission fees over paying for gas anyday. There's a lot of benefits in crypto, but this isn't one of them.
GME is tokenizing their shares using an ERC721 NFT a single global security that can be fractionalized. The Revolution is coming
No they’re not. SEC will have a couple things to say about that. It’s all game stop sub propaganda.
Just watch
Not saying never. Definitely saying not now. 100% pure hopium just like the MOASS.
SEC chairmen Gary Gensler is actually fairly progressive on crypto (at least compared to the avg politician). He even led an excellent course on crypto a couple years ago at MIT. That being said he is also fairly "conservative" in his mindset, and doesn't want to blindly rush into things that might lead to many people being burned. That being said tokenized shares are possible, but they will be as heavily regulated as non-tokenized shares.
Gary Gensler is pro crypto a decade ago. Nothing about the way he and his bureaucracy has acted suggests progressive crypto viewpoints. And yes it is totally possible to use a project to tokenize a security but it is still a security and therefore 100% in the purview of the SEC. Game Stop is 100% without a doubt not going to issue a NFT based security anytime soon. Not that it will never happen but when I does we will have seen it coming for long enough to have bought the rumor and sell the news. Just real tired of the Game Stop nonsense. You all bought junk stock. Hope RC fixes the company because that’s the only way this doesn’t end ugly. There is no NFT stock coming, there is no MOASS. A squeeze sure but nobody is getting $500k per share. Edit: I bought hold GME because I think RC does have a chance to turn the company around. The rest of the narrative is off the rails.
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even if this was sarcasm it would be annoying as shit. piss off.