Joe Biden Just Sent A Stark Warning To Bitcoin And Crypto After $2 Trillion Price Crash

  1. Be advised. This submission either linked to an article written by the Forbes editorial staff or a contributor. Contributor articles are essentially op-ed or non-fact-checked pieces written by people recruited by Forbes and do not necessarily reflect the views of the actual Forbes editorial staff.

  2. You still own an underlying asset that is producing value in some form (minus those shit bag zombie companies). That and the whole crypto environment is rife with people speed running 200 years of scams.

  3. Where is warning to banks, government and wallstreet after huge inflation and stock price crashing? There is none, cause they pay his wage and caused all shitshow.

  4. I watched dirty money on Netflix and it just pissed me off. Fucking banks. I want crypto For the freedom. If govt gets involved it’s fucked

  5. This doesn’t even make sense. The Fed is actively raising rates to lower inflation and make it harder for banks to engage in reckless lending.

  6. Did anybody actually read the article? First of all, the headline is pure clickbait. There's no stark warning. They're simply arguing for the SEC and CFTC to issue regulatory rules on crypto trading. Which is definitely needed in order to stabilize the industry. Crypto right now is exactly like how the banking industry was prior to the reforms of the early to mid 20th century. It's fucking chaos and small investors are getting ripped off left and right. Like it or not, in order for crypto to survive, and for small investors to not get fleeced, we need regulation.

  7. How dare you come in by reading the article and not parroting off some “hurr durr politics are bad, they don’t want you to win” nonsense that’s super popular here. You’re entirely right that right now crypto is rigged against the little guy because there are no rules keeping deep pockets from manipulating the ever loving shit out of it.

  8. It's fucking chaos because of decentralization which means no control and anarchy. Regulate it then you will have the same thing as banks. Yeah those who are here for the money will win, but what's the point of crypto compared to banks then?

  9. Yeah, having read at least the White House fact sheet on this, while I don’t necessarily like the ask for more enforcement, I do like the ask for regulatory agencies to issue more rules and guidance.

  10. The regulation you want won't let you keep your crypto on a ledger. You will have to keep it with a gov regulated entity "for your protection."

  11. Since when does gov’t care about retail traders losing money? Barclays “accidentally” sold off 30BN+ in assets they don’t even own and hedged for doing it. Citadel naked shorts retail assets and shorts companies into the ground. What kind of mental gymnastics are you running to think that the SEC has ever given a shit about the small guy? You only go to jail if you rip off billionaires, not retail lmao. Arthur Hayes got indicted on money laundering for not requiring KYC/AML, wrote a check for $10m to the SEC (a drop in the bucket for him), and received a comfy lenient sentence for it. It’s one big game, govt doesn’t care what happens as long as politicians or hedgies don’t get shafted and they get their money.

  12. Sounds like people are realizing they get what they asked for..You asked for institutions which will centralize control, well they need regulatory clarity and crypto doesn't have it as it was designed against the concept.

  13. Well man, I sure hope no one in the crypto sphere figures out how to trade funds anonymously and then hide their gains through a network of shell corporations. Because...only rich politicians get to do that stuff.

  14. Of course he wants to ban anything that hedges against the rampant inflation that’s going on. Anyone who doesn’t take the loss and instead tries to retain their wealth through this period of extravagant government spending is a threat to the control scheme.

  15. I thought this party was for the middle class and the poor to rise up! Lol, the only thing I've seen is the Obama administration tax crypto as a commodity to give the govt more coffers to abuse and now this nonsense

  16. You dog faced pony solider. You’re a damn liar, man. That’s not true. And no one has ever said that. No one has proved that.

  17. So many people were dumping money into public platforms. If you can download apps like Cash App, Binance, Exodus, prepare for the IRS to get their hands on that. If you made money, all taxed. If you lost, sucks for you. It's a win-win scenario for them.

  18. And like who is he addressing? There's no one person or entity controlling a decentralized network unlike central banks.

  19. It’s very bad. Governments need control of money and financial instruments. Crypto takes that control away. Since I first got into crypto ten years ago this was something we worried about. It’s why we didn’t embrace governments or banks or Wall Street. Recently this has been ignored. I am very concerned about this and have been diversifying for some time. I figure the only asset I can but that’s not inflationary is land until Elon opens up Mars. So I’m loading up on that.

  20. I find it hard to believe biden said anything of the sort considering how he struggles to get complete sentences out

  21. Well if anyone here was paying attention to the Senate Banking Hearings. Gensler's SEC is going to toss out the Howey test and make up some complete bullshit to fuck Ripple and the whole market In the ass. All to protect the $100 trillion capital markets. Gensler straight lied about how to use the Howey test.

  22. If the government wants to regulate crypto, they need to pass a new law that ensures that the decentralized blockchain aspect and maybe other desirable aspects of crypto are respected and preserved. The idea is to ensure the government doesn’t attempt to centralize a fundamentally decentralized currency.

  23. "I want crypto to replace money and be used for everything... wait but i dont want to be regulated like money and markets"

  24. There's not shit he can do about it. He can slow the progress a little, but the whole point of crypto is decentralization, and the most decentralized coins will win

  25. "frequent instances of operational failures, market manipulation, frauds, thefts, and scams." i thought this piece is about bitcoin, not amazon

  26. Welp I read everything and it’s not wildly worrisome at all. Not like the title leads is to believe. Yes regulation is coming but I think it’s both needed and wanted to a degree.

  27. I’d recommend next time any OP that likes the content but not the misleading title like this one to add to the title: “misleading title.”

  28. Forbes has been garbage for years. Not only that, but they'll report on a price crash that happened weeks ago while it's actually booming.

  29. "You guys are worrying your president a..a...about a tiny little...teeny tiny bit of a coin? What's a little piece of a coin gonna do? Bunch of mularky"

  30. How is the government going to enforce anything outside of Coinbase? BTC ATMs only require a phone number, and crypto is meant to remove government interference from the equation. How do they expect to govern it?

  31. IMO, it’s already somewhat regulated. The price of ease of access on exchanges is KYC, reporting gains/losses, etc. The cost for me is having banks shut down my accounts for accessing these legal and publicly traded exchanges. Seems like banks could profit more by integrating crypto into their business rather than lobbying the gov to shut it down.

  32. Yesterday there was a post telling us what this means. Sometimes we need to interpret what this looney administration is saying. To be honest it wasn't as bad as I thought originally.

  33. All the risks the article describes are the exact same risks associated with stocks, futures, lottery and gambling (ie. you lose all your money).

  34. This is so fukd.. draw a bunch of attention to Crypto so people are distracted from seeing the corrupt fake and disillusioned stock market. It all needs to 🔥

  35. I’ve owned Bitcoin since we had to sync wallets with the Blockchain. This is one of the dumbest comments I’ve seen. Don’t poke the bear.

  36. “Crypto coin, come on man. Not a joke! What is crypto coin? Talking about penny candy. My dad used to say if your not first, you’re last. Not a joke! America.” Probably Joe Biden

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