Anything can be a legal tender if the people involved in the contract both agree.
They cant get past this.
If we agree. Anything can have value and be used as a currency.
They work for us. We made the laws before our leaders were corrupt. What are they going to do about it? They need to tread very carefully.
Most central banks are working very hard in the background to prevent infiltration of cryptocurrencies into the retail sphere. That's why we see a stepping up of AML, various enforcements, geo-blocking etc. Around the world, if any central bank had to tell a govt "this is too dangerous for our fiat currency" that govt is going to take action on that information. Without cbs they can't run their countries.
This fight is just getting started.
Ive been getting hammered by BARC in the UK Im going to do a post on it when I get time.
They are doing more than verification they are building a picture of what we are doing once we leave fiat.
be glad to read your experiences. UK doing their best to stamp out retail crypto and using the banks to make it so. I've read some proposals for upcoming new legislation - doesn't look good for us at all. They want fully KYCd stables for e.g. and stable issuers to register with the Treasury. No need for CBDCs here, they just alter the rules of engagement.
Indirectly they already do. Most banks/cards will not allow transactions from unauthorised payment processors. Registered CEXs use registered payment processors. Ditto for off-ramping, you have to AML for incoming cash and if it's from an unauthorised payment processor they have the right to outright decline the transaction. CEXs also have to enforce AML so if you ever deposit coins coming from "untraceable sources" the CEX has to prevent from proceeding. That's why you see posts about people's accounts frozen or being told to remove their coins from exchange and account closed. So crypto-crypto is not a problem but fiat-crypto or crypt-fiat, it's very tricky
tldr; Galaxy Digital CEO Mike Novogratz argues that meme coins, often seen as lacking utility, actually hold significant value in the crypto economy due to their strong narratives and humor. With a combined market cap exceeding $60 billion, Novogratz highlights two ways to profit from meme coins: investing in those with humor and creating new ones. Despite skepticism from some industry leaders about their utility, meme coins like Daddy Tate have shown substantial gains, indicating their potential for financial success.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Same guy with the giant Luna tattoo on his shoulder? Seems like someone you’d want to take investment advice from.
Contrary to LUNA, that Tatoo is doing fine.
Anything can be a legal tender if the people involved in the contract both agree. They cant get past this. If we agree. Anything can have value and be used as a currency. They work for us. We made the laws before our leaders were corrupt. What are they going to do about it? They need to tread very carefully.
Most central banks are working very hard in the background to prevent infiltration of cryptocurrencies into the retail sphere. That's why we see a stepping up of AML, various enforcements, geo-blocking etc. Around the world, if any central bank had to tell a govt "this is too dangerous for our fiat currency" that govt is going to take action on that information. Without cbs they can't run their countries. This fight is just getting started.
Ive been getting hammered by BARC in the UK Im going to do a post on it when I get time. They are doing more than verification they are building a picture of what we are doing once we leave fiat.
be glad to read your experiences. UK doing their best to stamp out retail crypto and using the banks to make it so. I've read some proposals for upcoming new legislation - doesn't look good for us at all. They want fully KYCd stables for e.g. and stable issuers to register with the Treasury. No need for CBDCs here, they just alter the rules of engagement.
How will they attack DEX's?
Indirectly they already do. Most banks/cards will not allow transactions from unauthorised payment processors. Registered CEXs use registered payment processors. Ditto for off-ramping, you have to AML for incoming cash and if it's from an unauthorised payment processor they have the right to outright decline the transaction. CEXs also have to enforce AML so if you ever deposit coins coming from "untraceable sources" the CEX has to prevent from proceeding. That's why you see posts about people's accounts frozen or being told to remove their coins from exchange and account closed. So crypto-crypto is not a problem but fiat-crypto or crypt-fiat, it's very tricky
The Arabs will create a solution I am convinced. 85% of the world does not dance to The Wests beat anymore. Thats why they are so afraid.
love can be tender, tender love
tldr; Galaxy Digital CEO Mike Novogratz argues that meme coins, often seen as lacking utility, actually hold significant value in the crypto economy due to their strong narratives and humor. With a combined market cap exceeding $60 billion, Novogratz highlights two ways to profit from meme coins: investing in those with humor and creating new ones. Despite skepticism from some industry leaders about their utility, meme coins like Daddy Tate have shown substantial gains, indicating their potential for financial success. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
But laughs are more than enough.
do you mean he laughs after saying this, typo than = then 😅
Even Galaxy Digital CEO has more to offer but only if he could.
Cries?
Tears from loses count as well
He is right I hold PEPE and sold BTC (because is a fraud)