Have the regulatory floodgates really just been opened? Wyoming just introduced a bill allowing banks to officially store and handle cryptocurrency UNDER SEC REGULATIONS. Those Banks can act ALL ACROSS THE UNITED STATES.

Being a regular cryptopanic reader I am used to shady, clickbaity or wannabe price-tweaking posts.

When I read "Wyoming drops biggest crypto regulation news ever." as headline I was like: yeah, sure. M00N S00N.

But as it was tagged Cardano, which I like a lot, and Cardano moved to this very Wyoming recently, I figured: why not treat yourself to some decent trash read.

And seriously, having been in crypto for some years, I was thinking: is this it? Is this really it? Can't be.

Long story short: I think it is, actually. It's just hidden in the worst headline in a repost (and overlongest twitter-monologue in original).

My sum up would be:

bill legitimates banks as official crypto storage and handlers. One twist of the wording of the bill is that it also gives crypto the same currency "rights" as fiat currencies in Wyoming. Other twist is that, the way it is put, it allows for the facilities, as they are defined as banks, to act all through United States, not only in Wyoming. It even fixes the lien issue.

Please read for yourself and tell me if I get this wrong. English is not my first language, neither is law my field of expertise.

Twitter-tirade by Caitlin Long (no joke) explaining the whole thing in (very much) detail (30+ consequent Tweets):

https://twitter.com/CaitlinLong_/status/1086367321738731520

News article – more brief than the Twitter-thing – but less detailed on the wider implications:

https://www.forbes.com/sites/darrynpollock/2019/01/18/wyoming-introduces-bill-offering-cryptocurrencies-legal-clarity-to-attract-blockchain-business/?ss=crypto-blockchain&utm_source=TWITTER&utm_medium=social&utm_content=2087367833&utm_campaign=sprinklrForbesCrypto#67492e6246d5

Let me know what you think.

submitted by /u/Wally_the_Lao
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Bitcoin – The Currency of the Internet

Unpopular opinion: Those who use bitcoin to buy drugs online are doing more for bitcoin than the vast majority of HODL’s

I’m not the first person to say this and I won’t be the last, treating bitcoin as an investment and leaving it in a wallet for years at a time does nothing for the coin or the community. As much as it puts a bad taste in congressional mouths and casts a dark shadow on bitcoin, people who use it to buy stuff on the dark net are using bitcoin for its intended purposes

You know, as a currency?

Look, I get it, when you buy in at 10 grand you don’t want to buy a hotdog with bitcoin at 4 grand, everybody’s afraid of becoming the next million dollar pizza. But putting the coin in a wallet and doing nothing accomplishes nothing (except for added anxiety)

disclamer I’m not advocating for using bitcoin to buy illegal goods, just stating my thoughts on the matter

submitted by /u/Afrochiken
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Bitcoin – The Currency of the Internet

“A lot of people dismiss e-currency because of all the companies that failed since the 1990’s. It was the centrally controlled nature of those systems that doomed them. I think this is the first time we’re trying a decentralized, non-trust-based system” Satoshi Nakamoto #BitcoinAt10

"A lot of people dismiss e-currency because of all the companies that failed since the 1990's. It was the centrally controlled nature of those systems that doomed them. I think this is the first time we're trying a decentralized, non-trust-based system" Satoshi Nakamoto #BitcoinAt10 submitted by /u/SocialElementGroup
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Bitcoin – The Currency of the Internet

I spent a year making a thoughtful Bitcoin explainer without all the rookie mistakes (script was edited by many experts & reddit users). Please share with those who need to be enlightened. (Now part of James Lopp’s edu guide)

I spent a year making a thoughtful Bitcoin explainer without all the rookie mistakes (script was edited by many experts & reddit users). Please share with those who need to be enlightened. (Now part of James Lopp's edu guide) submitted by /u/britcruise
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Bitcoin – The Currency of the Internet

To those who think the decline of the Lira will boost the bitcoin price

You're probably right, but mostly in the long run.

At the end of 2015 my nation's currency, the South African Rand, lost 30% of its value in a week. That's when I first bought bitcoin – as a hedge against sovereign fiat collapse. I had value at stake, so I bought Mastering Bitcoin and began to learn. A few months later I sold all the equities I had in banking to buy bitcoin. Over the next two years I'd proceed to only save into cryptocurrencies. Now I work full-time in the field and live almost entirely off crypto, and I know many people with a similar story. Whilst those who brought us the moon and bought in December to get rich quick also panic sold quick.

These economic shocks won't create price pumps overnight, but they do teach people the lesson of why a censorship-resistant decentralised store of value is important, which will lead to long-term (in crypto-time) adoption.

submitted by /u/cainethelongshot
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Bitcoin – The Currency of the Internet