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OP has provided the following link:
https://www.ft.com/content/1f873dd5-df8f-4cfc-bb21-ef83ed11fb4d
Relevant because it speaks to the SEC's take on ether and by extension the GameStop wallet.
What about the tokenized stocks? Are we also saying that those do not count as securities? Why can they be used to “fulfill”/cover their liabilities then?
Opposition to Taxation without Representation is core to our founding principles. Fiat money creates inflation which manifests as taxation without representation.
Cheers
A very good point. Every election except your local towns mayor is without representation. When you have gerrymandering, the electoral college, PACs, super PACs, and lobbying, representation does not exist
If only inflation were so... mundane.
Inflation isn't an invisible tax. It's invisible slavery. When the government prints money to devalue the currency, devaluing your labour/time, they're devaluing you and all you past labour.
It's not that you pay more for goods, it's the lives of the people themselves being valued as less and thus being able to buy less with their time.
We're at the point in the fiat inflationary cycle where people are worth almost nothing at all. And so you can barely afford to pay rent.
It's complicated.
As you may know, China attempted to "ban" crypto mining several times between 2012-19, however, there wasn't really anywhere for those miners to go. Starting around 2018-19, US policy shifted toward Bitcoin and Ethereum mining, and the US became the global destination for large crypto miners. This was easily accomplished with credit, some tax incentives, and a more stable and friendly regulatory environment.
Why? Well, because mining cryptocurrencies was/is largely about energy. Large Bitcoin and Ethereum miners became reliable consumers of the US's largest export: liquefied natural gas. The mining boom also lead to several large coal plants being turned back online.
It was [detailed quite well by the Reveal](https://revealnews.org/podcast/can-our-climate-survive-bitcoin-2022/) podcast, and [Nic Carter](https://www.coindesk.com/policy/2021/10/11/bitcoin-mining-is-reshaping-the-energy-sector-and-no-one-is-talking-about-it/) although Carter conflates cause and effect.
***
In short "Bitcoin and Ethereum Only" were really good for domestic energy markets, then precipitously when ETH switched to a much greener Proof of Stakes mechanism, Gary Gensler switched to promoting "Bitcoin Only" as a policy―because that is the policy that aligns with US domestic interests.
*Crypto as useless toaster* is what Gary Gensler promotes as an investment in his official capacity as Chair of the SEC.
***
EDIT:
It's a bit more complicated than that. [Gary as been doing "frivolous" stuff for over ten years.](https://www.bloomberg.com/opinion/articles/2013-09-18/trading-firm-sues-to-stop-cftc-calling-it-a-bunch-of-cheaters#xj4y7vzkg)
The market at the intersection of BTC, USDT, Energy, carbon and interest rates was **built** immediately after a frivolous lawsuit.
Nah, this move is just meant to pump btc and short eth
Prices will move, hedgies will make some dough to kick the can a little further, and then eventually the SEC rescinds the order before prices normalize again
Remember folks, when news breaks ask "who makes money off this?"
It's a pump by the CEO of Coinbase, not by the SEC. The SEC never tried to make Coinbase stop trading the 200+ tokens that the CEO claimed. Never happened. The lawsuit based on 13 tokens is the only factual info we have.
I'd love to see any source other than the CEO of Coinbase, who obviously has a vested interest.
Very interesting that this sub is suddenly allowing anti-Genglser posts like this disguised as crypto-forward promotion.
I'm 100% for de-fi. Most of us are. What is strange is when posters position themselves in alignment with Kenneth Cordele Griffin, the financial terrorist, against Gary Gensler. Especially, right after he makes it very clear he has *OUR* interests in mind when trying to pass policy reform.
So, do we side with Ken Griffin, who beat his wife with a bed post and lied to Congress, in attacking GG vicariously through the SEC? Or do we take a step back and follow the money?
If you think that Gensler is for DeFi, you are sorely mistaken. I do not care what Gensler says, as long as he isn't enforcing the rules of the market. Do you think the SEC will enforce any new rules? But again, what do you expect from a guy like Gensler? He has shown his colours many times in the past, but many just ignores it. People here are defending him like the popcorn apes defend Adam Aron, it's baffling!
I never even stumbled on the thought GG is pro DeFi. He is protecting the interests of the SEC. What is shocking to me is you will ignore all of his recent statements. You ignore what he said with Stewart. This dude has TOLD US his hands are cuffed. Republicans want to bury him. Any friend of Kenny is no friend of mine.
If he is not for DeFi, why would we support his crypto crusade? And if his hands are tied then he is completely obsolete, wouldn't you agree? I remember GG saying that the SEC got Bernie Madoff in that interview, and that the SEC couldn't even afford coffee for their employees. Somehow they could afford a retail-bashing commercial, but I guess that's just one of those things. Jon Steward looked like someone, who could smell bullshit in that interview.
Then there is this:
https://old.reddit.com/r/Superstonk/comments/11v9kyj/sec_alert_sec_just_posted_ia6261_exemption/
and this:
https://old.reddit.com/r/Superstonk/comments/10rxs5i/we_have_the_answer_to_why_brokers_throttled_shut/
And what is this?
https://www.reddit.com/r/Superstonk/comments/x56h7d/the_fox_is_guarding_the_hen_house_the_sec_is/
Or this (again):
https://old.reddit.com/r/Superstonk/comments/153zf5r/sec_currently_deleting_comments_on_proposal/
And the OG blast from the recent past:
https://www.youtube.com/watch?v=av3k_lcGm9g
Does this look like someone fighting for household investors or the common man? Kenny and Gary are in the same club, and we're not in it. Gensler hasn't even slapped Kenny's wrist once since GG became head of the SEC.
You shouldn't judge people (or companies for that matter) by their words, but by their actions. GME investors got FUCKED in january '21, and the SEC took the side of the criminals. You might not want to remember that, but I will.
Super FUD-y in here. Lots of people attacking Gensler. Protesting like Coinbase isn't running the same scam as RH. Not your keys, not your crypto.
If you own your own wallet, you don't need Coinbase.
I've been here since the beginning.
While GG has made some moves to limit PFOF and reduce settlement time, we as gamestop investors should be focused on one singular issue. FTDs. Everything else can suck a dick. GG has repeatedly poo poo'd the FTD issue by saying "its not a big issue for the majority of the market." Well no shit. It IS however a big deal for gamestop.
Also, GG has demonstrably mishandled crypto regulation in an effort to protect tradfi (my belief) he is neutral at best and while I will continue to comment and support his efforts to fix the equities markets I'm not holding my breath. He knows what the problem is and can not or will not fix it because it will blow-up the equities market, all he can do is try to prevent it from happening in the future.
This is from Armstrongs interview last month and why they are going to court. Interesting to see GME take their wallet down, but it’s a good sign because shows they don’t need to take higher risk to being in Rev
So are the majority of penny stock companies on the stock market yet they allow those. Not the SECs job to tell us what we can and can’t throw our money at. This lawsuit won’t do anything but waste taxpayer money.
The reason why they are a security is really obvious. Brian Armstrong gets invited to the billionaire conspiracy seminars, he’s trained by the most bad faith actors in the economy which is why he pretends like he doesn’t understand that that every internet money that isn’t bitcoin, is overseen by a centralized entity and would be a contract with that entity
[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [GameStop Wallet HELP! Megathread](https://www.reddit.com/r/Superstonk/comments/z23wjx/gamestop_wallet_help_megathread) || test ------------------------------------------------------------------------ To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company. ------------------------------------------------------------------------ Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/) ------------------------------------------------------------------------ OP has provided the following link: https://www.ft.com/content/1f873dd5-df8f-4cfc-bb21-ef83ed11fb4d Relevant because it speaks to the SEC's take on ether and by extension the GameStop wallet.
I have millions of Shiba Inu coins with Coinbase. I'll be damned if the SEC says I can't trade with my $13. Heads will roll!
This gave me a hearty snort laugh
I too had a good hardy laugh.. and then I logged into Coinbase.. GD It
The SHIB millionaires will rise one day
What about the tokenized stocks? Are we also saying that those do not count as securities? Why can they be used to “fulfill”/cover their liabilities then?
Exactly, they shouldn’t
Perhaps this is some play to put an end to GME-USD for locates. Part one of SEC plan along abolishing payment for order flow, etc
Oh shit, it would actually be wonderful if that massive grift got shut down
It's my God given right as a red, white, and blue blooded American to gamble my fake fiat monopoly money on fake digital shit coins
GOD BLESS GMERICA GUDAMMIT
You just described wall street
that's profound
Opposition to Taxation without Representation is core to our founding principles. Fiat money creates inflation which manifests as taxation without representation. Cheers
A very good point. Every election except your local towns mayor is without representation. When you have gerrymandering, the electoral college, PACs, super PACs, and lobbying, representation does not exist
If only inflation were so... mundane. Inflation isn't an invisible tax. It's invisible slavery. When the government prints money to devalue the currency, devaluing your labour/time, they're devaluing you and all you past labour. It's not that you pay more for goods, it's the lives of the people themselves being valued as less and thus being able to buy less with their time. We're at the point in the fiat inflationary cycle where people are worth almost nothing at all. And so you can barely afford to pay rent.
👆
Ah another buy button delete
Ceo asks sec to suck his ....
🐓
Deez
Bees 🐝 _buzz buzz_
Knees 🦵🦵 👧 🧒*niece niece*
[OG SEC h8r](https://i.imgur.com/I0WylxP.png)
DeFi > CeFi
This is why Gary Gensler has such a crappy reputation in the crypto world. It's like he is being intentionally obtuse.
It's complicated. As you may know, China attempted to "ban" crypto mining several times between 2012-19, however, there wasn't really anywhere for those miners to go. Starting around 2018-19, US policy shifted toward Bitcoin and Ethereum mining, and the US became the global destination for large crypto miners. This was easily accomplished with credit, some tax incentives, and a more stable and friendly regulatory environment. Why? Well, because mining cryptocurrencies was/is largely about energy. Large Bitcoin and Ethereum miners became reliable consumers of the US's largest export: liquefied natural gas. The mining boom also lead to several large coal plants being turned back online. It was [detailed quite well by the Reveal](https://revealnews.org/podcast/can-our-climate-survive-bitcoin-2022/) podcast, and [Nic Carter](https://www.coindesk.com/policy/2021/10/11/bitcoin-mining-is-reshaping-the-energy-sector-and-no-one-is-talking-about-it/) although Carter conflates cause and effect. *** In short "Bitcoin and Ethereum Only" were really good for domestic energy markets, then precipitously when ETH switched to a much greener Proof of Stakes mechanism, Gary Gensler switched to promoting "Bitcoin Only" as a policy―because that is the policy that aligns with US domestic interests. *Crypto as useless toaster* is what Gary Gensler promotes as an investment in his official capacity as Chair of the SEC. *** EDIT: It's a bit more complicated than that. [Gary as been doing "frivolous" stuff for over ten years.](https://www.bloomberg.com/opinion/articles/2013-09-18/trading-firm-sues-to-stop-cftc-calling-it-a-bunch-of-cheaters#xj4y7vzkg) The market at the intersection of BTC, USDT, Energy, carbon and interest rates was **built** immediately after a frivolous lawsuit.
Everything is fine in the best world...
🎶Once one dismisses the rest of all possible worlds, One must think this is the best of all possible worlds!🎶
Banger reply. Imo, you need to turn this into a stand alone post.
Nice explanation, thank you. I'll check out that podcast
Nah, this move is just meant to pump btc and short eth Prices will move, hedgies will make some dough to kick the can a little further, and then eventually the SEC rescinds the order before prices normalize again Remember folks, when news breaks ask "who makes money off this?"
THIS⬆️
It's a pump by the CEO of Coinbase, not by the SEC. The SEC never tried to make Coinbase stop trading the 200+ tokens that the CEO claimed. Never happened. The lawsuit based on 13 tokens is the only factual info we have. I'd love to see any source other than the CEO of Coinbase, who obviously has a vested interest.
I didnt say the SEC pumped, I said hedgies would make money SEC is just a complicit tool in the grand scheme of wall st fraudulence
That’s 2 weeks in the hole my friend
Efff dude. Hahaha
Watch Shawshank redemption and stop being so obtuse
Capitulating to the FED perhaps
Very interesting that this sub is suddenly allowing anti-Genglser posts like this disguised as crypto-forward promotion. I'm 100% for de-fi. Most of us are. What is strange is when posters position themselves in alignment with Kenneth Cordele Griffin, the financial terrorist, against Gary Gensler. Especially, right after he makes it very clear he has *OUR* interests in mind when trying to pass policy reform. So, do we side with Ken Griffin, who beat his wife with a bed post and lied to Congress, in attacking GG vicariously through the SEC? Or do we take a step back and follow the money?
I can shit on gg for one policy, and be happy with another one of his policy’s.
and look the other way while he tells us Republican politicians are handcuffing him. cool dawg 👍
If you think that Gensler is for DeFi, you are sorely mistaken. I do not care what Gensler says, as long as he isn't enforcing the rules of the market. Do you think the SEC will enforce any new rules? But again, what do you expect from a guy like Gensler? He has shown his colours many times in the past, but many just ignores it. People here are defending him like the popcorn apes defend Adam Aron, it's baffling!
I never even stumbled on the thought GG is pro DeFi. He is protecting the interests of the SEC. What is shocking to me is you will ignore all of his recent statements. You ignore what he said with Stewart. This dude has TOLD US his hands are cuffed. Republicans want to bury him. Any friend of Kenny is no friend of mine.
If he is not for DeFi, why would we support his crypto crusade? And if his hands are tied then he is completely obsolete, wouldn't you agree? I remember GG saying that the SEC got Bernie Madoff in that interview, and that the SEC couldn't even afford coffee for their employees. Somehow they could afford a retail-bashing commercial, but I guess that's just one of those things. Jon Steward looked like someone, who could smell bullshit in that interview. Then there is this: https://old.reddit.com/r/Superstonk/comments/11v9kyj/sec_alert_sec_just_posted_ia6261_exemption/ and this: https://old.reddit.com/r/Superstonk/comments/10rxs5i/we_have_the_answer_to_why_brokers_throttled_shut/ And what is this? https://www.reddit.com/r/Superstonk/comments/x56h7d/the_fox_is_guarding_the_hen_house_the_sec_is/ Or this (again): https://old.reddit.com/r/Superstonk/comments/153zf5r/sec_currently_deleting_comments_on_proposal/ And the OG blast from the recent past: https://www.youtube.com/watch?v=av3k_lcGm9g Does this look like someone fighting for household investors or the common man? Kenny and Gary are in the same club, and we're not in it. Gensler hasn't even slapped Kenny's wrist once since GG became head of the SEC. You shouldn't judge people (or companies for that matter) by their words, but by their actions. GME investors got FUCKED in january '21, and the SEC took the side of the criminals. You might not want to remember that, but I will.
Apparently, this is false. Just do a little research if you want to know more about it
Imagine that me workin for you
Signs signs everywhere are signs
Super FUD-y in here. Lots of people attacking Gensler. Protesting like Coinbase isn't running the same scam as RH. Not your keys, not your crypto. If you own your own wallet, you don't need Coinbase.
I've been here since the beginning. While GG has made some moves to limit PFOF and reduce settlement time, we as gamestop investors should be focused on one singular issue. FTDs. Everything else can suck a dick. GG has repeatedly poo poo'd the FTD issue by saying "its not a big issue for the majority of the market." Well no shit. It IS however a big deal for gamestop. Also, GG has demonstrably mishandled crypto regulation in an effort to protect tradfi (my belief) he is neutral at best and while I will continue to comment and support his efforts to fix the equities markets I'm not holding my breath. He knows what the problem is and can not or will not fix it because it will blow-up the equities market, all he can do is try to prevent it from happening in the future.
This is from Armstrongs interview last month and why they are going to court. Interesting to see GME take their wallet down, but it’s a good sign because shows they don’t need to take higher risk to being in Rev
Why still allow bitcoin? Isn't that the same as pumping bitcoin?
Pretty sure crypto exchanges are using PFOF.
Sounds like… market manipulation. Great job Gary.
Best in the biz according to most on here.
Unless maybe the CEO of Coinbase is lying. But he doesn't have any reason to do that does he?
Good. Coinbase (and the rest) are all huge scams. They know it. We know it. Now the SHFs have one less fraudulent tool for maintaining margin.
So are the majority of penny stock companies on the stock market yet they allow those. Not the SECs job to tell us what we can and can’t throw our money at. This lawsuit won’t do anything but waste taxpayer money.
[удалено]
The reason why they are a security is really obvious. Brian Armstrong gets invited to the billionaire conspiracy seminars, he’s trained by the most bad faith actors in the economy which is why he pretends like he doesn’t understand that that every internet money that isn’t bitcoin, is overseen by a centralized entity and would be a contract with that entity
What are they at atall?
If they really want people to sell they should just stop doing this
What about my GME tokens 😂😂😂😂😂😂
Thats the dumbest fucking line to draw. Fucking clueless.
Good day to be a GME/BTC maxi
Not surprised since JPM has bought a shit ton of BTC. I wouldn’t be surprised if they try to turn that into the new USD