Interesting approach from the US government:
Oh no! I have 2 trillion Folattcoins, what should I do!?
Obviously, you best report them to the Authorities. To, you know, make sure they’re not used by the terrorists. AND by doing so, you will be creating countless jobs. Think of all the good people it will take to keep track of Folattcoins!
Will be fun when we all create coins with Decorum’s wallet/coin system. The government will have to track millions of different coins owned and each owned by multiple people.
Then think of all those “fake” accounts with the published names of politicians with billions of Folattcoins and billions of Saschacoins and billions fo neocoins. Then tell the media that all the politicians have billions and billions of cyrpto coins that they have not declared and are publicly viewable.
And then to make it worse use a distributed exchange to transact 1 coin for 1 dollar for each of the different types of coins they have. So if each politician has say 100 thousand different coins and say one billion of each and each has “1$ per coin value” (see above) then these “corrupt” politicians have over 100 thousand billion dollars worth of undeclared crypto coins.
And of course “how do they police it?” is the obvious answer. Its another unenforceable law that they can use to further criminaise a suspect.
Yes, that’s how I read it. I skimmed through the bill and it’s all about stopping ML transfers at borders and within financial institutions (which they have broadened to cover crypto exchanges) with no word about individuals transferring currencies from their own devices. So either they are preparing the ground for something more Draconian later on, or they realise the game is up and are providing themselves with a stick to beat someone whose suspected of something else.
Everyone must abide… except them of course.
People should literally by 1 coin of every single crap coin out there rack up thousands then we should contact them and ask them to audit our coins they won’t have the man power or time lol
looking forward to sticking a wad of cash in my managers (i;m a volunteer in spare time for decade) hand for her Christmas.
That;s my reaction
They’ll use A.I. but that’s if you choose to remain in their oppressive country.
This is one of our biggest problem, we see our tokens as crap coins/scamcoins (Privatekeys give crypto’s more value than fiat, if every crap coin could be exchanged it would still have some crappy value with a max supply). But if there is a trillion $cam going on, how do we get our financial freedom? All our family members are holding these $cam currencies and break their backs daily for it. Maybe the crypto space should start printing trillions, because at that point the conversation will get interesting. When bankers accuse us of being a “fraud” we can accuse them of being a “frost”, meaning that they can freeze people their bank account, something that’s totally impossible in the crypto space (LOL smartcontract creators can freeze tokens mwhahahaha). I came across this and it’s so true…
This is what bankers think “Crypto billions, can always be bought up by printing fiat trillions, so please nerds get a life preferably without your magic internet money”.
Give every citizen on Earth 100 Folattcoins each, btw you Folattcoins are worth $100 per coin on our ad platform, now that your wealthy spread that