The Crypto Thread

https://twitter.com/etherrockprice/status/1493919136304488452

Rock 8 went for 300eth a couple days ago. Nice premium over the floor rock because of the single digit serial.

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Looks like one of those might be a super rare shade of taupe too.

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Looks rare.

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Leftie? lulz

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sweet

https://twitter.com/jomaoppa/status/1495049524141768706

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What do you think of retro video game graphics like 1980s pixel art? I donā€™t think you can fully appreciate the beauty of it without realizing the artists were working under a rigid set of constraints imposed by the hardware. Early NFT art that exists entirely on the blockchain seems similar to that since thereā€™s a limit to what you can do right now (I think both technically capped and also in terms of added complexity requiring insane gas). OCM isnā€™t pushing the limits of technical possibility but was merely the first for single transaction, so in that sense itā€™s sort of like the Pong of on-chain NFT art.

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https://www.coindesk.com/video/recent-videos/canadian-authorities-warn-crypto-exchanges-against-promoting-self-custodial-wallets/

Police report for telling people how to set up a wallet. Lol

It is sort of lol but, on the other hand, self-custodial wallets donā€™t have to continue to be legal. Thought the tweet at the court by the other company was ill advised, felt like the Neteller execs back in the day.

One weekend in a federal holding cell was all it took for those Neteller execs to fold like a lawn chair. That was a great lesson in civics for me. The govt = the mob.

I mean I know nobody wants to hear it but one way to stop having all these fraud and theft problems with fake money is to stop expecting an unregulated investment to magically have the benefits of regulation.

I mean, how do you think this ends? The govt folds and is like ā€œsorry, I know you guys wanted to overthrow us but weā€™re coolā€ or they change the rules?

Um, nobody expects that? The alarmists clutching their pearls about fraud and theft arenā€™t the ones using blockchains.

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Telling people they canā€™t use non-custodial wallet is like telling them they canā€™t hold physical dollars, or physical jewelry, or asset of any monetary value. Thatā€™sā€¦ pretty extreme. I get that the government would love to have 100% ownership over everyoneā€™s assets, but Iā€™m not convinced many will want to give that freedom up. It will be interesting to watch for sure.

I agree that going to that extreme is unlikely (although not unprecedented, we have done it with gold), but governments can do a lot of things short of that to hurt both the industry and mainstream adoption.

I would still suggest that companies thumbing nose at the government around trucker protest payments is not the best of approaches.

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best thing that could happen is biden makes a big deal about banning crypto, or more likely ā€œregulatingā€ crypto in some minor-but-ultimately-stupid way. right wing overreacts and next thing you know 50 candidates on fox news all day shouting crypto is first amendment or some shit. i dare biden. i double dare biden.

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It feels like Americans are safe, but Iā€™d be surprised if they didnā€™t try to push some sort of KYC requirements for Canadians by the end of the year.

Most of the big exchanges already have KYC in the US and Canada. Coinbase ships that data straight to the IRS.

Non-custodial wallets are completely separate from that. Thereā€™s no way to do KYC because theyā€™re entirely decentralized. Banning non-custodial wallets would be about as effective as banning bad thoughts.

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Your theories are interesting. Now tell me how we stop all of the fraud and theft problems in regulated investments.

While youā€™re spending all your time worrying about unregulated markets, the regulated markets are setting up the next great economic collapse.

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