LogicallyMinded

joined 5 months ago
sorted by: new top controversial old
How are we supposed to use /r/Monero ?! in c/[email protected]
[–] [email protected] 4 points 3 months ago

I gave up on Reddit, the best is to be active and grow alternatives like monero.town

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The surveillance state agenda to be advanced by Trump/Vance/Thiel (monero.town)
 

Very insightful interview from Whitney Webb (last part of the show). We are already starting to see the same pattern that we’ve seen with Trump’s first term where Trump surrounds himself with deep state figures to advance the surveillance state agenda. At which point liberty-minded Trump supporters will start questioning the role played by Trump?

https://www.youtube.com/live/8BqVnOu1WBs

The pro-crypto bill was just passed by the House in c/[email protected]
-8
The validation for the first privacy preserving proof-of-personhood blockchain takes place tomorrow (monero.town)
 

The validation for Idena is tomorrow. Participating in the validation will earn you the right mine iDNA which doesn't require any specialized hardware or purchasing any token.

Idena is a proof-of-personhood blockchain enabling digital democracies (one human = one vote) in a privacy preserving way (no biometrics and no KYC required).

You can create an account at https://app.idena.io/ and join a network of 1,800+ participants.

The pro-crypto bill was just passed by the House in c/[email protected]
[–] [email protected] 2 points 5 months ago* (last edited 5 months ago)

I'm still looking for an in-depth analysis of this bill (which still has to go through the Senate) but in the meantime here is my cynical take on it:

The pro-crypto bill was just passed by the House in c/[email protected]
[–] [email protected] 3 points 5 months ago* (last edited 5 months ago)

I hear you, this is my first take based on a cursory reading of the bill. I must say I was skeptical before looking into it but I was surprised to see that the bill seems to insulate DeFi/devs/miners/self-custody from TradeFi regulations which is really the opposite of what the Warren anti-crypto army wanted (by considering everybody a broker).

Also, I saw that Aaron Day is saying it is a bad bill because it would enable CBDC but I'm still waiting for a more detailed analysis from him. Regardless of this bill, I'm not sure we can stop a CBDC launch so we may as well protect what makes crypto crypto then we'll have a fair competition against CBDC.

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The pro-crypto bill was just passed by the House (monero.town)
submitted 5 months ago* (last edited 5 months ago) by [email protected] to c/[email protected]
23 comments fedilink
 

The FIT21 bill (H.R. 4763) was just passed by the House. I still have to do more research on it but my current sentiment is that it’s a win for crypto.

My understanding of the bill:

  • It will prevent FTX-style robberies by regulating CEXs as brokers.
  • It sets a definition for what a decentralized digital asset is.
  • It makes DeFi, validators/miners out of reach of the SEC or CFTC.
  • It guarantees the right to self-custody.
  • It introduces the concept of investment contracts for digital assets.

I think the biggest changes we can expect from this bill is that some less decentralized blockchains are going to either get rid of some of their tokens supply either by selling or burning them so they aren’t considered a security.

I’m not sure what the implications of the investment contract provision will be. The dems are claiming that it will lead to the collapse of the financial system.

IMO, this bill is the win for:

  • Digital assets that meet the decentralization test
  • The DeFi ecosystem
  • Validators/Miners
  • Self-custody
  • Keeping devs and innovation in the US 🇺🇸

It is a loss for:

  • SBF-style fraudsters
  • Potentially TradeFi although I’m unclear on that one

The bill doesn't mention anything about privacy or mixing technology but it's probably good for those since the right to self-custody is made clear.

The bill: https://rules.house.gov/sites/republicans.rules118.house.gov/files/RCP_H4763_xml%20%28003%29.pdf

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Exposing Government Corruption in Crypto (www.youtube.com)
 

Insightful interview of Steven Nerayoff (one of the Ethereum founder) by Aaron Day. Some information are so insane that I had to double check their veracity and while I still have to do more in-depth research, I wasn’t able to poke holes in Nerayoff’s story. Definitely worth a listen.

https://www.youtube.com/live/DJ4tw6XNJVs

A crypto normie told me I would be soon a criminal to use Monero so I shamed him with two memes in c/[email protected]
[–] [email protected] 2 points 5 months ago

Thanks man. I've been lurking the forum for a while.

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A crypto normie told me I would be soon a criminal to use Monero so I shamed him with two memes (monero.town)