.....
Untrusted 3rd Party exchanges are required to fulfill KYC/AML requirements. The above Judgement isn't directed at specific individuals/accounts - it's a blanket order for ALL individuals/accounts that satisfy the federal government's described criteria.
This is all about the federal government believing there are a bunch of cryptocurrency exchange buyers/traders who aren't remitting to them federal taxes due. So, now the Court has agreed to their totally wide-open fishing expedition on Coinbase.
Bitcoin was created upon its very own blockchain, on which no untrusted 3rd Partys are necessary, nor does hosting a Bitcoin full node on your own computer require any KYC/AML concern at all.
Trustless. Permissionless. Immutable. Decentralized. Peer-to-Peer. Software.
Bitcoin wasn't created and doesn't exist for lazy, crony capitalist, $whore speculators. Not everyone is cut-out to step-up and be their own INDIVIDUAL banker/bank.
For the slackers, there will always remain the statist perils of untrusted 3rd Partys to charge them handsomely to act as their go-between, and always happy to cough them up when their crony capitalist bro gmen come calling for their cut, too.
Bitcoin - which had reached an all-time high of $998+ on January 1, 2017 - surpassed $5,000 for the first time on September 2, 2017...
Just two weeks later - September 15, 2017 - it had lost 41% of its entire value, falling to $2900+.
Another two weeks and it had rebounded to $4,400; two weeks later it set a new ATH of $5,400+.
It's latest ATH - $11,500+ yesterday - was almost immediately followed by a nice dip down to $9,000+ (losing around 20% of its entire value), then bounced back up over $10,000+ before closing yesterday at $9,800+, where it opened today...
And went right back up as if intending to smack $11,000 in the face again as it soared over $10,600+...until something popped: as I started this post, Bitcoin was barely @ $9,000+.
And yet, as I go on with this post, it's already gained $300+ and is flirting with $9,400: still a $8,400+ profit in just 11 month for 1 Bitcoin.
At its ATH of $11,500+ yesterday, 250BTC obtained back when 1BTC=1USD was worth $2,875,000.00...
Right now, at $9,300+, it's only worth $2,325,000.00.
A $man who correctly predicted at the beginning of this year that 1BTC would reach $10,000 by the end of 2017, a month or so ago predicted 1BTC would reach $25,000 by the end of 2018...
That would make those same 250BTC worth $6,250,000.00.
But, just a few days ago, even before 1BTC reached $11,000+ yesterday, the same guy raised his 2018 prediction to 1BTC = $40,000.00...
Which would make 250BTC = $10,000,000.00. What a lovely round number, indeed.
The notoriously infamous John McAfee proudly proclaimed publicly a few months ago that if 1BTC doesn't hit $500,000.00 by 2020, he'll eat his own dick...
His ego-sating diet aside, 250BTC @ $500K each = $125,000,000.00.
But then, yesterday, he raised that prediction to 1BTC = $1,000,000.00 by 2020, and stands-by eating his own dick if Ƀ doesn't reach that high...
$250,000,000.00: now that's a very nice number to reach in less than 10 years doing absolutely nothing but HODLing an original $250 buy-in.
One should expect a bunch of crazy entertainment on a $250 rocket ship ride to some other galaxy, no?
Disclaimer
The $ aspect is never of any practical concern to a Ƀlockchain ethos-minded spacer, except so far as being able to afford some BTC and be a part of of what is truly something revolutionary in the making: it's the Ƀlockchain, stupid. I will not and do not advise any individual to obtain Ƀ for old-school, crony capitalist, $whore speculation - profit or loss.
BEWARE: the Ƀlockchain has never lost even a single Satoshi; its code is perhaps the most soundly secure ever written by man. Since it is revolutionarily decentralized, even to just theoretically crack into it, one would have to crack into at least 51% of the multi-thousands of Ƀlockchain full nodes running on INDIVIDUAL computers all over the world.
Millions of Ƀ have been stolen, though...
...by cracking into numerous untrusted 3rd Party entities/exchanges (see Mt. Gox, et al).
(First rule of ɃClub is HODL; second rule is to never allow ANYONE else access to your private keys = your Ƀ.)
Millions more Ƀ have been presumably lost forever - their owners having lost/misplaced those private keys. Out of the 16.7 million or so Ƀ that have already been mined (remember: only 20.999 million Ƀ can mathematically ever be mined), it's estimated that around 4 million of them are already lost forever (that's $37.6 billion @ current 1BTC price).
A $249,999,750.00 gain from $250 worth of Ƀ ride tickets in less than 10 years is only possible - if it happens at all - if you do one thing: HODL. Same is fully true if it's only a $2,350,000.00 gain right now (1BTC has gained back another $100 in the meantime).
If you obtain BTC, HODL it to obtain full effect on this incredible ride, which ain't likely to end in any of our lifetimes. Currently, as long as you HODL, and don't trade/spend your Ƀ, you don't owe federal income tax on it...
Whose marginal rate even under the new, proposed tax plan is 41.4% (38.5 percent, plus the 2.9% Obamacare tax), which is $972,900.00 on $2.35M, and $103,500,000.00 on $250M. Nope: if I were you, rather than make yourself FORCIBLY liable to give all that $ to all those perpetually with their hands out, just HODL and thoroughly enjoy the Ƀ ride to the stars.
You know how the socialist/democratic mob full of thieving lemmings loves to proclaim how the village/collective does this, the government made that, blah, blah, blah, blah...blah?
Do you know that cypherpunk INDIVIDUALS invented/developed/built and still maintain Ƀ, to the point where private satellites now beam down Ƀlockchain transactions to receiving set-ups that cost < $100 DIY - anywhere in the world?
Can you imagine the world when the rich will still be rich and the poor will still be poor, BUT no statist financial/government crony capitalist collective can possibly TOTALLY, TYRANNICALLY and CORRUPTIBLY CONTROL again the system itself? That INDIVIDUALS will have TOTAL INDEPENDENT POWER over their own property for the first time in world history, because the decentralized Ƀlockchain provides them that power, while its trustlessness and immutability guarantees a total void of human political partisanship, corruption and personal subjectivity infecting its code?
Understatingly grandiose, oui?
As long as Ƀlockchain continues to absolutely live-up to its virtually unlimited potential, the rocket ship ride to 1BTC = $1,000,000.00 continues.
From its creation, Ƀlockchain has been FOSS - free open source software - meaning anyone can adopt it for their own purposes/profit, do whatever they wish with its source code.
In the last 9 years, there have been scores of specific wannabes - Ethereum perhaps the best known so far. Bcash, aka Bitcoin Cash, is just the latest. Overall, the cryptocurrency market as listed here...
https://coinmarketcap.com/all/views/all/
...is currently made-up of 1,318 coins/tokens, NONE of which existed when Ƀ was born, yet ALL of which exist wholly because of Ƀ, which created the cryptocurrency market all by itself.
Alas, despite all those current 1,318 efforts, Ƀ still dominantly rules the entire roost, yet has also completely paved the way for them all to profit to varying degrees, too.
One coin to rule them all...
