Cryptocurrency: Is Fighting Against WarOnCrypto De-Banking WarOnPrivacy GovBankPol and More
grarpamp
grarpamp at gmail.com
Wed Feb 8 21:44:45 PST 2023
> @BennettTomlin
> @Brian_Armstrong
>
> Warning: We got another Wells Notice.
> US SEC wants to bank staking for all users.
https://www.coindesk.com/business/2023/02/08/coinbases-ceo-cites-rumors-the-sec-may-ban-crypto-staking-for-retail-customers/
[–]mishaogTin 254 points 5 hours ago
They want to ban it for retail customers, basically they say you are
too stupid and you shouldn’t be able to vote in the blockchain
proposals and let alone earn interest
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[–]TruthSeeekeerPlatinum | QC: CC 1034 124 points 4 hours ago*
We are all too stupid to think for ourselves, unless you’re rich.
Then you become magically intelligent.
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[–]GabeSterPlatinum | QC: DOGE 2476, CC 909 | AvatarTrading 18 19
points 4 hours ago*
Nothing like burning money that means absolutely nothing to you on
terrible investments and not caring.
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[–]JERMYNCTin | 6 months old 6 points 3 hours ago
Fed is that You?!
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[–]BoscoAlbertBaracusBronze 4 points 2 hours ago
Moneyprinterbrrr.gif
Sorry y’all too poor to post a gif here I guess.
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[–]Vigilante17 2 points 2 hours ago
That’s hot
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[–]deathbyfish13Free Range Moon Farmer 2 points 2 hours ago
I feel personally attacked
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[–]bradd_pitGold | QC: XTZ 23 | ADA 12 5 points 3 hours ago
One of the legal qualifications to be an acredited investor is just to
be rich. So somehow yes
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[–]mistressbitcoinPlatinum | QC: CC 241 | DayTrading 8 | Fin.Indep.
314 10 points 3 hours ago
This is the truth...
I try to raise money from "accredited investors" and can tell you with
certainty that they are no smarter than everyone else. They can afford
to lose $100k and still maintain their lifestyle though... which is
what it is all about.
Most want to gamble on a shitcoin, think the world is about to
collapse, that we are on the verge of speaking with aliens, etc. just
like everyone else in this subreddit.
But the average person should never be excluded from taking calculated risk.
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[–]Vigilante17 3 points 2 hours ago
Then I’m still stupid
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[–]hangingpawnsTin 4 points 3 hours ago
You're*
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[–]Outrageous_Guest_533 2 points 2 hours ago
the wealthy are given more opportunities and privileges, while the
rest of us are left to struggle. that's just the way the world works.
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[–]evoxyseahPlatinum | QC: CC 206, BTC 22, LW 18 | ADA 19 2 points an hour ago
So true…
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[–]milonuttigrainPlatinum | QC: CC 1719 | Pers.Fin.NZ 17 17 points 4 hours ago*
Meanwhile they can’t even win against Ripple.
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[–]Outrageous_Guest_533 5 points 2 hours ago
It's crazy how Ripple has been able to withstand all the legal
challenges thrown their way. Shows how strong they are and how much
they believe in their product.
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[–]jawniPlatinum | QC: CC 438, r/DeFi 18 | Investing 45 2 points an hour ago
Shows how strong they are and how much they believe in their product.
And/or how badly the government mismanages crypto regulation.
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[–]Vast-Bodybuilder-700 2 points an hour ago
Ripple is GOATed for that shit fr
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[–]rawdfarva 37 points 4 hours ago
They don't want you staking crypto because they want you to keep your
money in the legacy banks
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[–]milonuttigrainPlatinum | QC: CC 1719 | Pers.Fin.NZ 17 12 points 3 hours ago
They don’t want planktons to become whales. They want to ensure their
mates got 99.99% of the cake.
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[–]Bucksaway03Platinum | QC: CC 318 | CRO 5 6 points 4 hours ago
They want to pretend like they are protecting the little guy.
All they end up doing is fuck them over
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[–]RdawgieBronze | Politics 13 2 points 4 hours ago
This is it. We aren't responsible for risk because we aren't rich, aka
"accredited investors ".
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[–]CharlieTheo-14Tin | CC critic 333 points 5 hours ago
SEC can suck it.
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[–]LaPietrah 67 points 5 hours ago
All my homies hate SEC
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[–]meeleen223Moons = Magic Internet Money Vol. 2 19 points 4 hours ago
SEC climbing to top of my dumb clowns I hate list
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[–]Wabi-SabibitchAnd btw you look fantastic in your boots of Chinese
Plastic 34 points 4 hours ago
Buy Monero , convert it and stake the coin you want.
Give zero fucks.
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[–]milonuttigrainPlatinum | QC: CC 1719 | Pers.Fin.NZ 17 15 points 4 hours ago
This is the way, go Monero, the superb privacy coin.
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[–]fireduckPlatinum | QC: ETH 50, BCH 35 | r/Prog. 18 9 points 3 hours ago
I've actually been looking at it pretty closely recently and have been
impressed.
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[–]WomecSilver | QC: CC 250, BTC 60, CM 16 | r/SSB 37 | Politics 136 9
points 3 hours ago
Its what people thought Bitcoin was during Silkroad times.
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[–]Nata_the_catTin 3 points 3 hours ago
How can you buy it?
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[–]fireduckPlatinum | QC: ETH 50, BCH 35 | r/Prog. 18 2 points 3 hours ago
I've only mined a little so far. I was planning on using changenow to
shift some of my BCH but haven't yet.
I like to take my time and not fuck up.
General consensus is changenow is legit but what the fuck do I know.
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[–]Outrageous_Guest_533 2 points 2 hours ago
That's the spirit. I like the idea of taking control of your
investments and not letting anyone else dictate what you do with your
money.
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[–]futurevandross1Tin | CC critic | NVIDIA 10 81 points 5 hours ago
Hopefully Ripple wins the case and this Harry Potter goblin looking
boomer shuts up for a while.
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[–]meeleen223Moons = Magic Internet Money Vol. 2 14 points 5 hours ago
We should Avada Kedavra his dyno ass back to Jurassic where he belongs
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[–]Hawke64Platinum | QC: CC 199 22 points 4 hours ago
"Use the Force, Harry" - Gandalf
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[–]BushwickNormie 2 points 4 hours ago
> harry potter goblin looking
what do you really mean though
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[–]genjitenjiSilver | QC: CC 320 | NANO 91 6 points 5 hours ago
Seck it
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[–]the_niblerTin | r/WSB 53 4 points 5 hours ago
D’s
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[–]daKiddo 3 points 4 hours ago
🥜s
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[–]TopAlert2383Platinum | QC: CC 55 | AvatarTrading 10 2 points 5 hours ago
Then take it.
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[–]DREAMINDIVERX 2 points 4 hours ago
They should go back where they came from.
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[–]TheSausageKingTin | Investing 11 114 points 4 hours ago
Lottery tickets ✅
Casinos ✅
Sports betting ✅
Crypto ❌ - Sorry, Gary says it's too dangerous for you.
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[–]BlacknesiumBronze | QC: CC 18 18 points 2 hours ago
And you can get shit faced in the bar every night.
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[–]milonuttigrainPlatinum | QC: CC 1719 | Pers.Fin.NZ 17 3 points 2 hours ago
They were like “Uhm crypto is a subset of casino, but let’s be double
standard and ban it”
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[+]USA_RedWhiteBlue1776 4 points an hour ago (0 children)
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[–]futurevandross1Tin | CC critic | NVIDIA 10 139 points 5 hours ago*
"He was responding to what he said were rumors that the SEC wanted to
"get rid of crypto staking in the U.S. for retail customers."
What the hell is the SEC even doing? Get rid of staking??? That is
peak blasphemy and I just hope they wont shape the future of crypto
because if so then we're fucked.
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[–]DrinkMoreCodeMoreSilver | QC: CC 347, GPUmining 29, ETH 16 | ADA 42
| Hacking 143 55 points 5 hours ago
It would be like a country trying to ban encryption. It's just math.
Impossible feat for them to do let alone enforce.
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[–]meeleen223Moons = Magic Internet Money Vol. 2 20 points 5 hours ago
Math and algos are bad if we cant control it and take our cut along the way
The more I comment on this the angier I get
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[–]JERMYNCTin | 6 months old 4 points 4 hours ago
Regulation is to protect us, not prevent us from moving forward. So dumb.
Between IRS and SEC, Crypto is emolying a lot of people.
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[–]Odysseus_LannisterPlatinum | QC: CC 1491 3 points 2 hours ago
How is making staking inaccessible protecting anyone?
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[–]JERMYNCTin | 6 months old 5 points 2 hours ago
I wasnt very clear. Sorry.
I was saying they (SEC) is supposed to protect us. THEY THINK THEY
ARE, but IMO, they are preventing technological progress. Over
regulation
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[–]Hawke64Platinum | QC: CC 199 10 points 4 hours ago
"SEC wants to get rid of math in the U.S for retail customers"
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[–]edmundedgarSilver | QC: ETH 501, BCH 45 | Buttcoin 193 | TraderSubs
18 23 points 4 hours ago
It probably means an enforcement action against centralized staking
like Coinbase are doing. These arrangements go:
You send me money
I pool it with other people's
I work to get a return on it
You and the rest of the people in the pool get the return, minus my cut
Saying these things are securities isn't particularly a stretch.
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[–]Odysseus_LannisterPlatinum | QC: CC 1491 10 points 4 hours ago*
That is what staking essentially is, but people don’t have to do this
through an exchange. Doing it from a native wallet or decentralized
pool accomplishes the same goal and #1 & 3 of the howey test fall
apart because you still have ownership of your asset and can withdraw
at anytime and the person running the node doesn’t rely on your
specific contribution to “do work” as they’ll still mine blocks
without you.
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[–]Outrageous_Guest_533 3 points 2 hours ago
it's not like the decentralized staking can be regulated, it's all
about the user having full control of their assets. So, it will be
interesting to see how the SEC is going to enforce their regulations
in this case, as it's not a straightforward matter.
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[–]MaximumSandwich5Platinum | QC: CC 241, LTC 100 | TraderSubs 100 11
points 4 hours ago
Do we know if it's only staking on centralized exchanges? Or is it
also staking on the network? Can't see how you could ban the latter
without banning the cryptocurrency itself.
If it's only staking on centralized entities, can't believe I'm saying
this, but I can see where the SEC is coming from. Blockfi, Celsius,
Genesis, etc. Centralized crypto staking gone very wrong.
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[–]Anaeta 8 points 3 hours ago
Those were lending platforms, not staking.
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[–]80worf80Platinum | QC: CC 473 5 points 4 hours ago
Accredited investors only. This is what regulation looks like. Do you
meet the criteria?
https://www.sec.gov/education/capitalraising/building-blocks/accredited-investor
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[–]DrPechankoSilver | QC: CC 389 | SHIB 33 12 points 5 hours ago
The XRP case was actually erased from the SECs website the other day.
It is no longer listed under open litigation cases or the 2023 cases.
It was there up until a few weeks ago. Whatever that means.
https://www.sec.gov/litigation/litreleases.htm
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[+]TubbyMurse 2 points an hour ago (0 children)
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[–]DREAMINDIVERX 11 points 4 hours ago
SEC office
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[–]Da_Notorious_HAMTin | CC critic 3 points 4 hours ago
Who are you kidding? Everything pen and paper. No traceable records
for shady deals!
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[–]TvmouthSilver | QC: CC 66, BTC 43 | TRX 73 | Technology 20 20
points 5 hours ago
Only if they ban interest on savings at every bank too. That's fair.
Mountain of a mole hill, but fair is fair.
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[–]meeleen223Moons = Magic Internet Money Vol. 2 6 points 4 hours ago
Oh no, but thats okay because it's their system and crypto is a thorn
in their eyes
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[–]SenditwithethanBronze | LRC 5 3 points 4 hours ago
That 2 cents a year is more of a middle finger to us than "profit"
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[–]LaPietrah 32 points 5 hours ago
Another reason why to hate SEC
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[–]ReasonableHat600Potato 98 points 5 hours ago
They can’t even win against XRP. The infinity case.
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[–]TruthSeeekeerPlatinum | QC: CC 1034 58 points 5 hours ago
If you love watching the SEC struggle against XRP, you’ll love
watching the SEC struggle against staking!
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[–]meeleen223Moons = Magic Internet Money Vol. 2 36 points 5 hours ago
First they came for the XRP, and I did not speak out—because I was not
a holding XRP.
Then they came for the staking, and I did not speak out—because I was
not staking any coins.
Then they came for Moons—and there was no one left to speak for us.
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[–]TruthSeeekeerPlatinum | QC: CC 1034 11 points 5 hours ago
Defend staking at all costs!
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[–]Hawke64Platinum | QC: CC 199 3 points 4 hours ago*
If staking is wrong, then I don't want to be right!
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[–]Bucksaway03Platinum | QC: CC 318 | CRO 5 2 points 4 hours ago
I've got my pitchfork ready to go meeleen
You lead the charge!
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[–]coinsRus-2021Silver | QC: CC 52 | ADA 222 | TraderSubs 11 4 points
5 hours ago
Yeah you’re right but these power tripping fools won’t stop
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[–]Hawke64Platinum | QC: CC 199 2 points 4 hours ago
We should sic SEC on something else like crypto influencers or Craig Wright
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[–]erizi0nBronze 3 points 4 hours ago
They might not stop too soon, but they won’t win anyways, lol wanting
to ban staking is really such a lol, these guys don’t even know how
all this shit even works lol…
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[–]meeleen223Moons = Magic Internet Money Vol. 2 4 points 4 hours ago
They want control, its exactly what crypto is created to stand
against, and these clowns will learn that crypto is inevitable and new
time is coming
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[–]CryptoNerdSmackerTin | CC critic | CelsiusNet. 8 23 points 5 hours ago
All jokes aside, people in this sub are ignoring the elephant in the
room and that is the SEC gearing up to absolutely fuck ETH in the ass.
They’ve got egg on their face with this whole Hinman’s Emails debacle
and they may try to save face by denying Ripple the concessions they
want and renegging on Hinman’s statements about ETH being a commodity.
It may be that this litigation provides a very thin and specific vague
statement about XRP not being a security and that’s it. No cover down
for the rest of the space.
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[–]Hawke64Platinum | QC: CC 199 5 points 4 hours ago
Doesn't it fuck up all smart contracts cryptocurrencies?
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[–]hyrootpharmsBronze 2 points 4 hours ago
No. Just any that require staking. Plenty of proof of work chains use
smart contracts. Even btc.
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[–]former-bishopTin 2 points 3 hours ago
Exactly. So many people have not paid attention to the risk ETH has
due to SEC exposure. Sure, the SEC has no authority outside the US but
look what happened to XRP globally.
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[–]DukeThomBronze 4 points 5 hours ago
If you want a cool documentary to watch, check out infinity on Netflix
- goes deep into the concept of infinity. Pretty cool stuff
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[–]meeleen223Moons = Magic Internet Money Vol. 2 3 points 5 hours ago
Also Shiny_Flakes: The Teenage Drug Lord on Netflix on a teenager who
sold drugs for bitcoin out of their parents bedroom all across the
world, wild stuff
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[–]KappatalizablePlatinum | QC: CC 846 4 points 5 hours ago
Maybe thats why theyre moving on to another case. They know the XRP one wont end
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[–]coinsRus-2021Silver | QC: CC 52 | ADA 222 | TraderSubs 11 1 point 5
hours ago
The SEC’s plan is to just keep hitting crypto until something cracks the armor
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[–]ablablababla 4 points 5 hours ago
Feel like that plan won't really lead anywhere
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[–]meeleen223Moons = Magic Internet Money Vol. 2 4 points 5 hours ago
Two things are infinite, XRP case and SEC's stupidity
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[–]homrqtTo The Moon! 42 points 5 hours ago
The government is not your friend.
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[–]futurevandross1Tin | CC critic | NVIDIA 10 21 points 5 hours ago
Goverments: "Hey our banks won't accept money u made from crypto but
we want you to pay 30% to IRS mkay?"
That's how it goes where i live.
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[–]Hawke64Platinum | QC: CC 199 3 points 4 hours ago
Silly IRS, all I've got is some funny internet monopoly money, no need
to pay taxes on those.
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[–]Outrageous_Guest_533 2 points 1 hour ago
they're trying to have their cake and eat it too. It's really unfair
that they can't even recognize the legitimacy of crypto and its
potential as a source of income. The government should be working
towards embracing and regulating crypto, not trying to stifle it.
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[–]04_STIBronze | TraderSubs 16 5 points 4 hours ago
Just like HR
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[–]Hawke64Platinum | QC: CC 199 5 points 4 hours ago
We live in a society
Bottom text
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[–]Bucksaway03Platinum | QC: CC 318 | CRO 5 49 points 5 hours ago
The SEC wants to ban lots of things they can't control.
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[–]liveaskingsPlatinum | QC: CC 92 | LRC 13 9 points 5 hours ago
If they can't control the money and get a piece of the pie, they won't stop
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[–]Consistent_Many_1858Platinum | QC: ETH 26 | MiningSubs 27 4 points
5 hours ago
They want their 20% for free.
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[–]meeleen223Moons = Magic Internet Money Vol. 2 2 points 5 hours ago
They want it and they are becoming desperate
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[–]Hawke64Platinum | QC: CC 199 2 points 4 hours ago
Mob boss always gets his cut
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[–]PoorCryptoInvestor 3 points 5 hours ago
They will end up banning themselves!
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[–]TurkeyBaconALGOcadoPlatinum | QC: ALGO 26 | GMEJungle 7 |
Superstonk 27 3 points 4 hours ago
And yet things like PFOF (payment for order flow) and NYSE dark pools
are totally legit.
It's almost as if, just maybe, the SEC exists to protect the haves,
and gatekeep the have-nots... 🤔
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[–]Onyourknees__Bronze 2 points 4 hours ago
One of the perks of a crony capitalist society. Unfortunately this
precedent for govt agencies goes far beyond the SEC.
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[–]Hawke64Platinum | QC: CC 199 2 points 4 hours ago
Bannings with continue until morale improves
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[–]DrakharDTin | ADA 32 | SysAdmin 17 12 points 5 hours ago
My opinion it will come down to self custody of the assets.
I think it will be hard for SEC to argue against staking on
blockchains where users keep self custody of the assets (assets never
leave your wallet or go into smart contract).
Blockchains where you have to give self custody away to stake will be
easier targets in my opinion.
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[–]GabeSterPlatinum | QC: DOGE 2476, CC 909 | AvatarTrading 18 4
points 4 hours ago
They can also target exchanges and force them not to allow users to
stake through them. Good luck stopping self staking though.
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[–]coffee_is_funSilver | QC: CC 54, ICN 48 | NEO 118 7 points 5 hours ago
So you'd have to be an accredited investor to legally stake anything.
Sounds pretty par for course where America's concerned.
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[–]SBFs-Nutsack 3 points 5 hours ago
Do it! Do your worst or also DONT do it! if you have the guts, coward.
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[–]R0B0C0P33Platinum | QC: CC 454 3 points 5 hours ago
"I heard a rumor"
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[–]selphfourgivenessSilver | QC: CC 223, BTC 28 | r/CMS 26 |
Superstonk 24 3 points 3 hours ago
Umbrella Academy has entered the chat
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[–]MajorTiltage 3 points 5 hours ago
Boo
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[–]DeC3x0 3 points 5 hours ago
“The SEC won’t let me be or let me be me so let me see”
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[–]DAMG808Tin | CC critic | AvatarTrading 19 2 points 3 hours ago
...Gary tries to shut me down with the S-E-C but it feels so empty, without me"
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[–]illustradamas 3 points 4 hours ago
Ridiculous if true.
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[–]bootstr8Platinum | QC: CC 276, ARK 23 | NEO 24 9 points 5 hours ago*
This is shit but are we really be surprised?
All they do is shit on us. Time to start shitting back. Go defi and
tell them to get fucked.
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[–]holonz_Bronze 11 points 5 hours ago
First they cried about mining, now they're worried about staking.
Bunch of ignorant morons in power.
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[–]Thunder_WaspSilver | QC: CC 36 | CRO 185 | ExchSubs 186 3 points 4 hours ago
True they wanted to ban mining for environmental reasons, but now they
want to ban staking which has no environmental impact. It’s almost as
if the SEC is in the pockets of the corrupt too-big-to-fail corporate
banking oligopoly.
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[–]holonz_Bronze 2 points 4 hours ago
Exactly. It's a joke.
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[–]StonedRexPlatinum | QC: CC 181 5 points 5 hours ago
Fuck SEC
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[–]CommunityQuirky6073 7 points 5 hours ago
ah yes the USA, at the forefront of encouraging innovation and tech btw.
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[–]ShaneKeizer80sTin 19 points 5 hours ago
Beauty of crypto is that the SEC nor any other institution like it,
has a say on what crypto does.
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[–]TruthSeeekeerPlatinum | QC: CC 1034 11 points 5 hours ago
Unfortunately it has a direct effect on price, and this pushes a lot
of people away from the industry.
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[–]Hawke64Platinum | QC: CC 199 2 points 4 hours ago
I thought we were in crypto for the tech?
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[–]Proud_Reserve3029Platinum | QC: ETH 25, CC 24 | MiningSubs 35 3
points 5 hours ago
But aws and other cloud providers does if sec bans all crypto staking
nodes be a killer to a lot of projects
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[–]futurevandross1Tin | CC critic | NVIDIA 10 4 points 5 hours ago
Sadly they can wreck my portfolio.
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[–]BrewerfanBKTin | 5 months old 23 points 5 hours ago
They want retail out of crypto so the institutions and accredited
investors can only invest in crypto.
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[–]TruthSeeekeerPlatinum | QC: CC 1034 11 points 4 hours ago
Have to look out for their buddies somehow
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[–]milonuttigrainPlatinum | QC: CC 1719 | Pers.Fin.NZ 17 3 points 3 hours ago
Yeah those political donations
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[–]Infamous_Barnacle_17Tin | TRX 7 | AvatarTrading 10 10 points 5 hours ago
How many people would rather leave the US and continue their crypto
journey elsewhere?
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[–]futurevandross1Tin | CC critic | NVIDIA 10 3 points 5 hours ago
If I make enough money to live comfortably somewhere else I probably will.
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[–]BlazeDemBeatzPlatinum | QC: CC 319 | Pers.Fin. 20 10 points 5 hours ago
I’d love to leave the US and not just because of crypto.
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[–]wizardstrikes2Platinum | QC: ETH 43, Coinbase 23 | MiningSubs 73 4
points 4 hours ago
Until we leave the earth and start populating the moon, mars, and
beyond, Your only choices on earth are shitholes run by shitbags.
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[–]alander4Platinum | QC: CC 259 | r/WSB 16 3 points 4 hours ago
Too bad we can’t start our own country…
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[–]Hawke64Platinum | QC: CC 199 2 points 4 hours ago
I wouldn't mind swapping places. You can do whatever you want in my
5th world hellhole.
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[–]Odysseus_LannisterPlatinum | QC: CC 1491 9 points 5 hours ago
Fuck outta here. This doesn’t concern the SEC if if I place my coins
as part of a pool to mine a block of cryptocurrency. It’s
decentralized as anyone can participate anywhere in the world and it’s
a reward to get coins back for securing the network. It’s not
dividends
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[–]meeleen223Moons = Magic Internet Money Vol. 2 2 points 5 hours ago
Damn SEC, it's all about control, very thing crypto was made to stand against
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[–]gingeropolousPlatinum | QC: XMR 515 | MiningSubs 20 5 points 5 hours ago
Then you would be fine staking without getting rewards?
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[–]PoorCryptoInvestor 5 points 5 hours ago
SEC stands for Suck Everybody's Cock!
For legal reasons we are talking about roosters here
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[–]Consistent_Many_1858Platinum | QC: ETH 26 | MiningSubs 27 2 points
5 hours ago
SEC sucks.
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[–]sportsfan113 2 points 5 hours ago
I imagine he means third party staking though exchanges as you can’t
really ban staking. The SEC seems to do the wrong thing at every turn
though, this is a dumb thing to try and ban.
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[–]roarroar6767Bronze 2 points 5 hours ago
Happy cake day OP
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[–]nousemercenarySilver | QC: CC 100 | EOS 155 | r/WSB 35[S,🍰] 2
points 4 hours ago
Thank you!
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[–]slasula 2 points 5 hours ago
Gary got issues
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[–]DurbanDawgTin 2 points 5 hours ago
Sec wants their piece.
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[–]kaijengTin | CC critic 2 points 5 hours ago
They can't
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[–]PhilosopherDear4176Tin 2 points 4 hours ago
Of course anyway for the regular man to earn an additional living is
against their rules. Way to much government involvement.
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[–]KyuckaynebraynTin | PoliticalHumor 194 2 points 4 hours ago
Maybe just start with banning the CEX from wrapping their reserved eth
into their proprietary coins so that they can remain liquid and cannot
rug pull their own reserves on their own investors. Would be
comprehensively better than banning staking. Then ban fractional
reserve banking while you’re at it
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[–]mfaust19Tin 2 points 4 hours ago
the SEC should ban low yield savings accounts
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[–]joekercomBronze | CelsiusNet. 19 | TraderSubs 13 2 points 4 hours ago
Just more proof that government regulation is not the answer
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[–]StamInBlackTin 2 points 4 hours ago
Is the SEC going to ban savings accounts, too? Those are fiat staking
mechanisms.
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[–]anonymous1325Bronze | QC: CC 21 2 points 4 hours ago
That is the beauty of DeFi. You can ban it all you want 🤣
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[–]DREAMINDIVERX 2 points 4 hours ago
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[–]hicoBMTin | CC critic 2 points 4 hours ago
God damn it!!! The SEC is soooo satanic!
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[–]DREAMINDIVERX 2 points 4 hours ago
They underestimate us once again..
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[–]CryptoScamee42069Bronze | QC: CC 22 2 points 4 hours ago
I heard a rumour the SEC are dickheards
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[–]Da_Notorious_HAMTin | CC critic 2 points 4 hours ago
It was confirmed
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[–]TheCassiniProjektBronze | TraderSubs 15 2 points 4 hours ago
How do you ban decentralized staking?
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[–]Wowfan121231Open your Vault 2 points 4 hours ago
Coinbase CEO says something so he can buy in cheaper before the bullrun
Hot news
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[–]WubbywubPlatinum | QC: CC 96 | ADA 7 2 points 4 hours ago
so we launch a fully proof of stake coin call it $SEC and everyone
stakes it only without any other utility
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[–]Wabi-SabibitchAnd btw you look fantastic in your boots of Chinese
Plastic 2 points 4 hours ago
A technology is created so there is no central authority but the
central authority wants to ban it , except for the part where they can
tax it.
Fuck SEC
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[–]Repulsive_Music7242Tin 2 points 4 hours ago
Source: Trust me bro
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[–]skyvinaTin | CC critic 2 points 4 hours ago
SUCK ELON'S CLOCK
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[–]Obatronics1 - 2 years account age. 100 - 200 comment karma. 2
points 4 hours ago
I wonder what will happen to all the people staking eth2 on coinbase??
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[–]EngineeringFinal3419Tin | CC critic 2 points 4 hours ago
This is true, attorneys also fear staking could be in the spotlight as well
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[–]JangusCarlsonTin | 2 months old | Politics 10 2 points 4 hours ago
They can ‘stake’ my balls in their mouth.
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[–]hyrootpharmsBronze 2 points 4 hours ago
Ouch that would hurt. A stake right through your balls.
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[–]ussichan3 - 4 years account age. 50 - 100 comment karma. 2 points 4
hours ago
SEC want to suck our soul dry damn
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[–]the_far_yardStack a Sat, Stash a Gwei, Bull or Bear, D-C-A. 2
points 4 hours ago
In some ways, this is gonna push people to park their coins back into
their cold wallet, and reinvest it in a more traditional form of
investment. Staking with extra steps.
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[–]Spicoli007 2 points 4 hours ago
Let's hope it is just a rumor.
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[–]scientifichistorianPlatinum | QC: CC 52 | SHIB 6 2 points 4 hours ago
Passive income for the poors and normies? BAN.
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[–]RaydiinTin 2 points an hour ago
Trying to get ahead in life? BAN. Stay poor you plebs kind regards the SEC
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[–]MEISENSTEINPlatinum | QC: CC 21 2 points 4 hours ago
Banks offer less than 1% interest. Market pursues alternatives.
Alternatives better. Government aims to ban alternatives
because….greedy bastards.
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[+]VerticalFoil 2 points 4 hours ago (0 children)
[–]automatedcharterer 2 points 4 hours ago
SEC cant even ban counterfeiting of shares. They even publish the
lists of shares bought and sold but not yet delivered twice a month.
imaging if NHTSA published how many trucks were sold but not yet
manufactured nor were ever going to be delivered. Just business right?
Plus SEC doesnt ban anything. They just litigate stuff that they might
win that does not disrupt the rich people from stealing from everyone.
Even then thy just fine them a pittance for thier trouble. Oh steal 40
billion dollars? that's a find of $20,000.
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[–]240NordeyBronze 2 points 4 hours ago
Lol. Ban stock dividends while you're at it, then.
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[–]war3rdTin | r/Politics 42 2 points 4 hours ago
Retired hedge fund manager here. The SEC wants to ban anything that
doesn't help the 1%.
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[–]yeeattyBronze | QC: CC 16 | LRC 17 | Superstonk 192 2 points 3 hours ago
Sec can seck my balls
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[–]NevilleHarrisPlatinum | QC: CC 66, ETH 25 | TraderSubs 10 2 points
3 hours ago
*First they ignore you
*Then they laugh at you
*Then they fight you
*Then you start to kind of win
*Then SBF fucks everything up and damages public perception to the
point where the Super Bowl bans crypto commercials
*Then the SEC starts trying to do wild shit because they can <<——- you’re here
*TBD
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[–]torontogluttonPlatinum | QC: CC 125, ETH 62 | TraderSubs 62 2
points 2 hours ago
This would be disastrous
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[+]arcademachin3 2 points an hour ago (1 child)
[–]onichaninuTin | 2 months old 2 points 1 hour ago
How would they…? How gonna they gonna stop me to stake on pancakeswap
or uniswap?
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[–]carlbentleyofficialTin 2 points 1 hour ago
Fuck the SEC
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[–]Vast-Bodybuilder-700 2 points 1 hour ago
My bank won’t let me earn interest on my money unless I have at least
25k in savings and then it’s only 1% you have to have over 1 million
to get 3%. So something comes along for the little guy to earn on
their money and they want to fuck us. Fuck them we will still have
DeFi staking.
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[–]CuzahSilver | QC: CC 33 | VET 96 2 points 31 minutes ago
Its only a ban for exchanges to offer staking services. Its kind of
good for crypto seeing as it will force people to take care of their
coins in a more safer manner, encouraging them to stake within their
own wallets.
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[–]No-Significance-1581Platinum | QC: ETH 25 8 points 5 hours ago
Fuck the government
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[–]Crypto-CajunPlatinum | QC: CC 81, XRP 29 | ADA 12 5 points 5 hours ago
Hoping that Ripple mops the fucking floor with these mother fuckers
and they lose every bit of regulatory power they have.
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[–]iphonepencil> 3 years account age. < 150 comment karma. 5 points 5 hours ago
Gotta protect us from profits 🤡
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[–]futurevandross1Tin | CC critic | NVIDIA 10 2 points 5 hours ago
This Gary clown is really infuriating, alien looking boomer ass.
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[–]lewislover44Tin | 2 months old 2 points 5 hours ago
I remember 2 years ago or so everyone thought he would be pro crypto
as he knows Algorand founder or some shit lol
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[–]TruthSeeekeerPlatinum | QC: CC 1034 3 points 5 hours ago
Regulators need to try and justify their existence somehow.
Crypto is one of their easiest targets.
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[–]CoverYourMaskHolesPlatinum | QC: CC 82 | AvatarTrading 17 3 points
5 hours ago
Actually it’s one of their hardest targets, they just think it’s an
easy target. Way easier to ban centralized services. Almost impossible
to ban decentralized services.
What will happen is US users won’t be able to stake and the rest of
the world will be making all the capital and finally the SEC will be
forced to reverse the ban due to it being just a crutch on Americans,
and not really protecting anything.
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[–]002timmy 3 points 4 hours ago
Staking clearly doesn’t pass the Howey test. You’re contributing to
the security of the network. The Howey test says a security is
something you expect a gain from the efforts of others.
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[–]KaffikupPlatinum | QC: BTC 73, CC 19 | Stocks 58 3 points 4 hours ago
the fact that is possible shows why eth's move to POS has been a
critical mistake.
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[–]FldLima 6 points 5 hours ago
Can SEC just f*ck off already? Holy what s bunch of annoying boomers
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[–]cryptotentnewBronze | SC 10 6 points 5 hours ago*
Don't throw all us boomers in there! We had to make ends meet with all
the never ending regulations during our time as well. It's the select
few that make it hard for the rest of us. SBF wasn't a boomer and look
what he did.
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[–]Maxx3141Platinum | QC: CC 2677 3 points 5 hours ago
If that would include real PoS staking that would be terrible - and
nothing but an attack in crypto on my opinion...
But if they would be going for stricter lending rules (which is also
sometimes called "staking", and I hate that) I think we should be more
open to it. I think people should simply not expect to earn money by
holding coins like BTC or stable coins.
Note I'm saying "stricter". As a crypto believer I'm not supporting
any ban to "protect investors" obviously.
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[–]munchies777Tin | Technology 17 2 points 3 hours ago
I'm thinking it will be more of the latter. When you stake a PoS coin,
the coin can't go bankrupt and lose all your money. Exchanges can and
obviously have. From a regulatory point of view, it's also much easier
to regulate exchanges that operate in the US compared to protocols
that aren't based anywhere. When exchanges were offering like 20%
interest it was obviously a Ponzi scheme.
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[–]Accomplished-Design7Platinum | QC: CC 810 2 points 4 hours ago
So bye-bye ETH?
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[–]corn-potageBronze | 5 months old 5 points 4 hours ago
Nope, more like bye bye cbETH.
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[–]MBGLK 2 points 5 hours ago
Brian should relist XRP, otherwise it's just conjecture on his part
and means nothing.
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[–]RocketMoonShotPlatinum | QC: CC 16 | Accounting 121 2 points 5 hours ago
They want to kill interest.
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[–]CoverYourMaskHolesPlatinum | QC: CC 82 | AvatarTrading 17 2 points
5 hours ago
That’s one country banning something that all countries use… you can’t
ban these things…
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[–]coachhunterPlatinum | QC: XRP 401, CC 217 2 points 5 hours ago
“Coinbase CEO says he heard rumors the SEC wants to ban crypto”
Fixed it for ya
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