Authors David Puell
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$BTC: Two Bitcoin FUDs to address this Thanksgiving weekend:
1. China PlusToken FUD: Old news. Please see linked thread.
2. U.S. Treasury FUD: Read thread below...
1/ These news are much more relevant, as they imply severe trade-offs for people who want to keep their bitcoins undoxxed, with the cost and risks of doing so. I would not disqualify the tweet as mere FUD in the sense that what he posted is false. It should be taken seriously.
2/ For all we know, his decision of making it public before TG weekend may come out of the urgency of informing CT of a poignant anti-Bitcoin move by a Trump administration trying to cut lose ends before leaving office—not just "price manipulation" as I've seen suggested around.
3/ It implies the acceleration of a process already planned for for months in advance, not something he just came up with to "crash the market."
4/ In practicality, assuming this passes, it will have two major consencuences:
a. Armstrong's analysis is correct. And I would go further in saying, this regulation would leave the U.S. severely handicapped to continue to be the leader in the cryptocurrency industry worldwide.
1. China PlusToken FUD: Old news. Please see linked thread.
2. U.S. Treasury FUD: Read thread below...
$BTC:
— David Puell (@kenoshaking) November 27, 2020
1/ So here's the deal with all the PlusToken news we've been seeing recently in the crypto media. Thing is, tho it's just being reported now after the Chinese government put out official balances, @ErgoBTC blew this story open for the on-chain community over a year ago... https://t.co/epNjZaNcJ1
1/ These news are much more relevant, as they imply severe trade-offs for people who want to keep their bitcoins undoxxed, with the cost and risks of doing so. I would not disqualify the tweet as mere FUD in the sense that what he posted is false. It should be taken seriously.
2/ For all we know, his decision of making it public before TG weekend may come out of the urgency of informing CT of a poignant anti-Bitcoin move by a Trump administration trying to cut lose ends before leaving office—not just "price manipulation" as I've seen suggested around.
3/ It implies the acceleration of a process already planned for for months in advance, not something he just came up with to "crash the market."
4/ In practicality, assuming this passes, it will have two major consencuences:
a. Armstrong's analysis is correct. And I would go further in saying, this regulation would leave the U.S. severely handicapped to continue to be the leader in the cryptocurrency industry worldwide.