Generational Dynamics Forum - New Site

Cool Breeze wrote: Wed Feb 17, 2021 5:40 pm > Who says they know you have it? Most people who opine on BTC in a
> critical way don't even know what possibilities are out there, or
> how hard it is for others (yes it is quasi-anonymous) to come
> after you. As if they have all the enforcers in the world to go
> after non billion dollar people deemed illegitimate. It's time to
> step up your game, you guys don't even know what mixing is,
> etc.

John wrote: Wed Feb 17, 2021 6:06 pm ** 17-Feb-2021 World View: Paper trails

Cool Breeze wrote: Wed Feb 17, 2021 5:40 pm > Who says they know you have it? Most people who opine on BTC in a
> critical way don't even know what possibilities are out there, or
> how hard it is for others (yes it is quasi-anonymous) to come
> after you. As if they have all the enforcers in the world to go
> after non billion dollar people deemed illegitimate. It's time to
> step up your game, you guys don't even know what mixing is,
> etc.

That makes it no different from cash. If someone pays you cash under
the table and you bury it in your basement so that the Feds don't know
about it, then they can't confiscate it. If they pay you in bitcoin,
it's the same.

The problem comes with paper trails. If someone pays you $25,000 in
bitcoin, then that transaction may appear in the financial statement
of the person paying you, and Feds can trace that payment back to you.

And here's a problem that you have with bitcoin but not with cash: If
you receive $25,000 in bitcoin, and you want to use that money in a
place that requires dollars, then you'll have to convert it, and that
transaction could be discovered by the Feds.

If you and all the people you transact with stay off the grid, and you
all transact only in bitcoin, then you can avoid being detected. But
if one person in your circle makes a mistake and the Feds find him,
then they can follow the paper trail to you --- same as cash.

aeden wrote: Wed Feb 17, 2021 6:31 pm ytd
book 2 6.31%
NASDAQ Composite Index 8.99%
S&P 500 Index 4.70%
Dow Jones Industrial Average 2.99%

10% Stocks 90% Cash
btc may be a lion today and a red spot alone on the Serengeti.
No one really knows now do they.

https://www.zerohedge.com/markets/top-j ... everything

John wrote: Wed Feb 17, 2021 6:06 pm ** 17-Feb-2021 World View: Paper trails

Cool Breeze wrote: Wed Feb 17, 2021 5:40 pm > Who says they know you have it? Most people who opine on BTC in a
> critical way don't even know what possibilities are out there, or
> how hard it is for others (yes it is quasi-anonymous) to come
> after you. As if they have all the enforcers in the world to go
> after non billion dollar people deemed illegitimate. It's time to
> step up your game, you guys don't even know what mixing is,
> etc.

That makes it no different from cash. If someone pays you cash under
the table and you bury it in your basement so that the Feds don't know
about it, then they can't confiscate it. If they pay you in bitcoin,
it's the same.

The problem comes with paper trails. If someone pays you $25,000 in
bitcoin, then that transaction may appear in the financial statement
of the person paying you, and Feds can trace that payment back to you.

And here's a problem that you have with bitcoin but not with cash: If
you receive $25,000 in bitcoin, and you want to use that money in a
place that requires dollars, then you'll have to convert it, and that
transaction could be discovered by the Feds.

If you and all the people you transact with stay off the grid, and you
all transact only in bitcoin, then you can avoid being detected. But
if one person in your circle makes a mistake and the Feds find him,
then they can follow the paper trail to you --- same as cash.

Economics

Fed Staff Suggest More Worry Over Financial Risk Than Powell

By Rich Miller

February 17, 2021, 7:31 PM CST Updated on February 18, 2021, 7:30 AM CST

Powell calls risks moderate, staff sees them as notable
Official insists Powell agrees with staff’s overall appraisal


Federal Reserve staff members gave a potentially more worrisome assessment of the risks to financial stability in the central bank’s policy meeting last month than the one presented publicly by Chair Jerome Powell.

Speaking to reporters on Jan. 27 after the Fed’s last policy making meeting, Powell called financial stability vulnerabilities overall “moderate.” Central bank staff gave a less sanguine assessment in their presentation at the January meeting, telling policy makers that vulnerabilities on balance were “notable,” according to the minutes of the gathering released on Wednesday.

Powell agrees with the staff’s overall assessment but was just speaking more generally to reporters than the granular approach taken by Fed economists in their presentation to the Federal Open Market Committee, according to a Fed official familiar with the matter.

As for household and business balance sheets, the Fed economists judged vulnerabilities on that front to be notable, “reflecting increased leverage and decreased incomes and revenues in 2020.” Big banks were seen to be in good shape.