I gifted $ 20 of Bitcoin to Janet Yellen via Biterica. Her gracious response and more background below.
You’re welcome, Janet. Thanks for keeping an open mind!
I noticed the community insinuating that it will go down with the stock market because people will be trying to pull their money out of markets and look for safe havens in government issued assets and currencies, like the dollar, treasuries and bonds.
This is flawed logic and counter to the exact solution and correct response that Satoshi originated in the last crisis.
Bitcoin is a store of non inflationary, non government, digital money and value, that works better than gold, and is extremely powerful because of it's essence. It is a borderless, censorless, immutable, incorruptible, non inflatable measure we can use to evaluate assets distinct from third party interference. It is a power of accurate and true monetary assessment anyone can use. And with community involvement, and cryptographic developments, will become the central means of merchant and consumer exchange.
Stocks, treasuries and all assets were and have been inflated by governments, grossly and incessantly, since the last crisis to stave off the natural discovery of true underlying value within assets. We are now approaching the pinnacle of inflated valuations and indebtedness because of the governments bandaid response to the last crisis. They are simply out of tools now and there is a new measure of value that is immutable, namely, Bitcoin.
Bitcoin is the answer.
Bitcoin will be realized this time.
A month ago Binacne blocked my old, active account that was 3d level verified and full of 1.2K BTC.
The account was created and used for arbitrage on cryptocurrency markets and everything was good for a long time before Binance decided to block it.
Since then I’ve had a long conversation with their representative where I provided all my documents (even more that it was necessary), passed video verification and fund verification as well.
During our conversation they changed the reason for blocking my account a few times and as a conclusion it’s still blocked.
The first reason was “security” the last one was “law enforcement” which they don’t want to connect me directly with. And you know what, I don’t believe them at all.
- I make deposits from and make withdrawals exclusively to other well recognized exchanges from Top-10 exchanges.
- I haven’t made withdrawals to any new addresses for last month. All withdrawals were from addresses that I used before for as long as several months. Why have you just now blocked my account?
- All my withdrawals can be traced to well-known cold wallets of respectable exchanges (all were in top 10, according to CMC).
- The hackers don’t do any arbitrage.
- It's strictly prohibited to tell anyone that reason of blocked account is law enforcement (in case it's real reason, not like in my case). If it's really law enforcement they will connect you directly without any 3d party.
My accounts on other exchanges are active, so, I’m just wondering for what reasons is Binance holding my money with no rules or reasons for it?
I just kindly ask the official Binance representative to let me know that an investigtion about the account has beed started.
u/Binance How long does it take to finally solve the issue with my account as they’ve had all the documents and information for more than a month?
Is there anyone who’s faced the same situation? What kind of actions should I take against Binance to get my funds back?
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You've got to be kidding me with this absolute garbage. Read it for yourself, but the guy is wrong about almost everything he says. It looks like clickbait, but it's in Forbes and I thought Forbes was a respectable publication. When are journalists going to start taking their publications seriously when it comes to cryptocurrency? Why is this Jason Bloomberg dope the "president" of a tech company?
I got so incensed about it that I pushed out a response article of my own. Read it and give me some feedback, or don't — either way, understand that this is the kind of ignorance we're up against in the crypto world. Dinosaurs who think that the whole idea of a decentralized system is so dangerous that it should just be made illegal.
"First they ignore you, then they laugh at you, then they fight you, then you win." It looks like we're getting to the "fight you" stage.
I’ve heard Peter Schiff argue that Bitcoin isn’t truly scarce because an infinite number of competing cryptocurrencies can be invented. But by that logic, gold isn’t truly scarce either because I can take a random piece of wood, spray paint it gold, and offer this “woodgold” as a competing commodity.
A goldbug might reply that this analogy is ridiculous because gold has properties (scarcity, historical value) that woodgold doesn’t. But that’s exactly the point. Bitcoin has properties that a random altcoin doesn’t; i.e., network security (people seriously underestimate how valuable it is that Bitcoin has survived nearly a decade of sophisticated and persistent attacks), the development community, first mover status, number of adopters, etc. Sure, anyone can create an infinite number of random altcoins, but good luck trying to get people to adopt it and to take the time to protect the integrity of the network.
What is your best response to the “bitcoin isn’t truly scarce” argument?