Long-awaited decisions have finally come to a fierce discussion at the Department of Justice in the US today. Additionally, a document previewing upcoming plans to regulate the Bitcoin industry have been made public.
Although it may suck, these plans have at least not been held secret. Opening the floor for the entire globe to have a discussion and watch the decision-making process.
Bitcoin's strange fluctuation in price today was not only overdue but these talks today signaled fear in the market causing many to pull out until they understand better.
Oddly enough though, Bitcoin's price immediately met with resistance and prices went on both upwards and declined.
Pretty interesting times for Bitcoin!
If you're looking to read more about these talks be sure to visit the following resource link:
What is there to really worry about though? Not to worry! I'll tell you here since I have been watching closely and researching these events.
Top 3 Things the US Government is doing with Crypto:
1. Bitcoin Tumbling Software now considered a "money laundering" tool according to DEJ (Department of Justice)
That's right! They've learned their sh** apparently and found that this software actually works. This could seem like a bad thing for those that use it for privacy reasons and not for money laundering. Simply because it isn't clear whether or not possessing such software automatically makes you labeled as a launderer. However, what it really means is that Bitcoin Tumblers actually work! They must work really well too, because the main concern here is to try and avoid people getting secret off-shore bank accounts to hide money. Which is actually not illegal by the way! Simply put, there is no need to worry here because it isn't what you are using that gets you in trouble these days. It is how you use it! Don't use your money to do shady things and you won't have to worry about your doors getting kicked in.
2. Bank Regulations and Requirements for Participation
This one is sort of obvious but the cool part is, it marks a shift in attitude towards Bitcoin. Before businesses got away with selling Cryptocurrencies by doing things like setting up shop overseas. Prior to this year they technically did not have any plans. If you bought Crypto through anyone in the US over the past year or two. You were only able to do so because of laws that were created for Bonds, Stocks, and Investment Firms. Loopholes! But let's admit it, buying Crypto in the US really sucks. There are little legitimate opportunities and of those opportunities, they don't offer anything too great as of yet. So far Coinbase has been the closest in terms of rewarding new Bitcoin investors. If you have not got your piece of the Coinbase Pie yet you may want to use this $10 referral link to get started. After that, you can take lessons to earn up even more than the $10 referral you get here.
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These are standard requirements too, nothing really to worry about too much! Other than the fact that they want absolutely no anonymity when it comes to using your money. The requirements will include your typical KYC verification along with manual verification steps such as proof of income, potential age requirements, and residency.
The interesting part about this whole thing is, it gives Banks room to adjust now. Meaning they now have a clear path to offering Bitcoin as well as other things like Crypto loans and Escrow accounts. Can you say huzzah for "Proof-of-Stake"?
Additionally, the option to offer investment insurance in the event money gets stolen. Worrisome investors will be especially pleased.
3. Advertising & TV Commercials
This one came as sort of a surprise despite the fact I had already learned that advertising was going to be crammed down our throats with this stuff this year.
Sure we didn't see a Bitcoin commercial at the Super Bowl this year and no surprise halftime performance by Satoshi Nakamoto. Maybe next year?
However, the year is still early and these talks also lead to how marketing works with all of this. Should it be advertised, how, to who, and how soon?
Definitely not saying I have all of those answers of course but one thing is certain. People have been dreaming for the day that regulators give businesses more wiggle room. This wiggle room just got a lot bigger because of this and with more room comes more lousy room for advertisements.
This year we have already seen Forbes talk about Bitcoin 10 times more than they normally do. Additionally, regular TV airways such as Fox CNBC and CNN have all gossiped on more than normal. Which means someone or some group has their hands in the PR cookie jar. Places like Twitch.tv have even seen more users Live Streaming their Forecast Predictions whereas before there were little to no streams of this type. If we don't see advertisements this Summer or Winter, I will be extremely surprised.
Need more proof? Even Tosh.0 made it the headline of his latest show on Comedy Central
View it here:https://www.youtube.com/watch?v=OCCNomU5j8c
Have you been using Brave's Ad feature too? If so, have you noticed the advertisements you have been receiving?
Big names are getting in on the cash cow now before it's too late. Here just a few of the names I noticed struck up an Advertisement partnership with our favorite new browser Brave. These guys definitely must have BAT money saved up from this now lmao
- Best Buy
- Cancer Research Society
- Save The Children
- Rainforest Foundation
- Portland State University
That's just to name a few too as this is only a list I personally gathered during my time using Brave. These are ads that popped up more recently too! It has been difficult to find a full list but as I look into using Brave to advertise I may find out. At that time, I will be back to update everyone on the latest big names taking part in this revolution.
I hope everyone enjoyed reading and thank you tons for reading!