Consolidated Crypto Traders/Chat Thread

This resonates with me lol

 

Gold




View attachment 13616

 

Someone in my hood got raided, $1.5mil of crypto seized by the man.

Apparently on a hardware wallet.

https://micky.com.au/record-1-5m-of-crypto-seized-in-mdma-drug-raid-in-western-australia/

 

Doesn't quite help the image that decentralised currency is good eh.

Is there any pure crypto stores that aren't for illicit purposes? (i'm sure there is, but i'm guessing minimal...). It's a bit hard when the world is fiat and if you want to use your crypto for anything it's all pegged against it's USD value.

I've gotten off the crypto train. I think the shines worn off and i'm not a whale so i won't be making a profit. Blah blah store of value.

 

I'm surprised Police could work it out : p

 

How do you seize crypto?
Lol at the massive drug haul:

Must be at least a $600 worth of ecstasy tablets.

 

Good question, absolutely no idea.

 

The police probably asked the drug dealer for the password to access the hardware token, and the dealer was stupid enough to give it to them. Or they have seized the token and can't access the coin, but was told how much was on it.

 

The actual police media release is here: https://newsroom.abf.gov.au/release...enews&utm_medium=miragenews&utm_campaign=news

Whatever that means.

 

Guess they checking into whether it's the proceeds of crime and whether they will lose it under same.

 

Their painting the story as if it were a "crypto bust". Since when is crypto illegal?
If the cops hassled him for the password for his Internet banking and found a million dollars in his bank account, we probably wouldn't hear about it.

 

Well...you're pretty wrong there.

It's always pretty well publicised whatever $X value they have recovered through proceeds of crime. It's often seen mentioned as cash, cars, property etc. In this case it's obvious that crypto was a large chunk of the asset seizure hence it made the headline...

You can quote anything you like out of context, but it's clear from the article that these people aren't small time dealers. Nothing needs to be a 'massive drug haul' in itself initially to lead to a much larger seizure of drugs or other proceeds of crime. A lot who are careful wouldn't be importing or holding quantities en masse but would instead be doing it in smaller batches to reduce the risk since i'm sure the logistics would be a lot harder otherwise.

It's fair and reasonable to assume that if they're importing drugs and they happen to have $1.5m in crypto that there is a high chance they're not small scale and also that the crypto is proceeds of crime. Like i mentioned before, they hold it in whatever asset they want just like everyone else in society holds their wealth on whatever assets they prefer. It could have just as easily been property, cash et al.

 

Damn Bitcoin SV has gone parabolic! Flipped BCH and going for XRPs no.3 spot.

Haha imagine if Craig White turns out to be the real Satoshi but was trolling people the whole time to make himself look like a fool only to rub it in peoples faces!

 

assuming access to the token was not given, and the dealer was smart enough to have the seed backup saved somewhere secure, they'll be able to recover everything once released, and the token will become worthless.

 

Akon founds coin and city.
https://thenextweb.com/hardfork/202...to-akon-akoin-blockchain-africa-senegal-city/

I predict great things for this.

 

This BCH/BSV flippening fight no matter how silly it is, seems to be bringing some life back to altcoin's. Can't remember the last time BTC pumped 20% in a couple of weeks, then altcoins actually pumped even higher in general after that, starting to feel like 2017 again . In addition, quite a few altcoins have broken downtrends, consolidated at the lows for months and have now broken resistance in BTC terms, pretty nice setup for altseason.

 

Is there still a battle? I thought the hash war was done 6 months ago or more

Lets hope so

 

The hash power battle was pretty silly. In reality price dictates the bigger coin (and the hashrate), real money on the line. BCH has always had a higher price than BSV so was the bigger coin, that was, until the last 24 hours where BSV has jumped BCH. So for now BSV is 'the real Bitcoin Cash', I don't expect it to last forever though.....

 

Glad I sold my BCH for 0.3BTC each over 2 years ago, that was a good deal.