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USA crypto holders, PLEASE READ the 2nd post, you need to sort this out NOW


HAL1000
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URGENT. Senators Warner and Portman are proposing a last-minute amendment competing with the amendment, which would be disastrous for the US #crypto ecosystem.

Get on to your congress, USA people, RIGHT NOW, and vote YES on the Wyden-Lummis-Toomey amendment.

Edited by HAL1000
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  • HAL1000 changed the title to USA crypto holders, PLEASE READ the 2nd post, you need to sort this out NOW
4 hours ago, HAL1000 said:

no offence to our american fellows but it sort of makes me proud not being an american -- what are your elected people doing? giving up on the land of the free, out of pure greed and arrogance?

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1 hour ago, VanHasen said:

no offence to our american fellows but it sort of makes me proud not being an american -- what are your elected people doing? giving up on the land of the free, out of pure greed and arrogance?

The land of the free is a meme to keep the people in line. Our ruling class hates us and acts only out of self interest.

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And not only from a "climate" perspective (if you're sceptical of that), then simply from the *totally obvious* hypocritical, self-interested, divisive, moat-building bitcoin maximalists are trying to promote bitcoin maximalism perspective, that would kill all other innovation in consensus methods, defi, staking, and competing blockchain-based technologies that aren't proof of work.

It's totally obscene. The corruption in the bitcoin space, from social promoters and business owners to government officials, is off the charts.

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BTC Maxi lobbyists literally doing what all monopolies in the past have done - lobby Washington to stifle competition. And they say they're ushering in something decentralized...the ******* nerve. 

We're going to need to come together (the non BTC crypto community as a whole) to form major coalitions opposed to this kind of stuff. Or I guess I can just start figuring out how to move out of this sinking country. 

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I am not from the US but I would like to understnd the impact of the Warner Portman amendment. Are US exchanges required to track all transactions for tax purposes, resulting in a significant burden/higher cost or even halt trading for POS crypto? And any impact for XRP expected?

Edited by 4Fingers
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1 hour ago, 4Fingers said:

I am not from the US but I would like to understnd the impact of the Warner Portman amendment. Are US exchanges required to track all transactions for tax purposes, resulting in a significant burden/higher cost or even halt trading for POS crypto? And any impact for XRP expected?

XRP is safe. None of the US exchanges list it anyway.

You know guys, the XRPL has this wonderful little DEX built right into it where we can all trade XRP to our hearts' content while governments can go sod off. If only we had some solid issued currencies to trade against.

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1 hour ago, 4Fingers said:

I am not from the US but I would like to understnd the impact of the Warner Portman amendment. Are US exchanges required to track all transactions for tax purposes, resulting in a significant burden/higher cost or even halt trading for POS crypto? And any impact for XRP expected?

Yes the Warner-Portman amendment is going to affect all crypto except POW.
For POW miners they make an exception to report crypto transactions but green technology like the XRPL validators and other intermediaries can be affected. It's bizarre that a president who claims to care about the environment choose to support an amendment that explicitly excludes POW.

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I'm trying to wrap my head around this still. 

The exchanges seem really pissed off by the late Warner-Portman ammendment. BTC Maxis seem thrilled at the favoritism it shows BTC. But even @ Jack is out there retweeting in support of the Toomey-Lummis ammendment. 

What is really going on here?

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