Reddit Posts
BREAKING: The ECON & LIBE committees of the EU Parliament voted in favor of the FTR compromises D & E that crack down on “unhosted” wallets. - Patrick Hansen on Twitter
EU Parliament voted in favour of the FTR compromises that crack down on “unhosted” wallets ! Regulation draft will certainly go through.
The ECON & LIBE committees of the EU Parliament voted in favor of the FTR compromises D & E that crack down on “unhosted” wallets.
Mentions
He will say anything to save that special group, savings and investments long enough to get their's out and FTR of us.
I mean, who knows? This is the classic situation where the FOMO kicks in and people start buying like crazy (it happened in 2020). FTR I'm doing just fine consolidating my portfolio adding new BTC, ETH and AVAX bags as part of my dollar-cost averaging strat.
>Undemocratic Guy who centrally premined 72 million tokens of his own cryptocurrency is talking about democratic? Crypto bros are so deluded it's not even funny. FTR, Bukele is democratically elected and has the highest independent approval rating of any democratically elected president in the world because he ran on a platform of putting an end to gang violence and corruption and has actually delivered on these promises and done even more. El Salvador is one of [only 16 countries](https://www.unwto.org/news/international-tourism-consolidates-strong-recovery-admidst-growing-challenges) in the entire world to recover in tourism to pre-pandemic levels. It attracted 1.1 million tourists in the first six months of 2022. Tourism Minister Morena Valdez said that bitcoin adoption had increased tourism by 30%. El Salvador has [earned](https://www.lonelyplanet.com/el-salvador) the 'Best in Travel' award by Lovely Planet for 2023. Thanks to volcano bitcoin mining driving down cost of energy production, El Salvador is now energy independent and has gone from importing energy to a [net exporter](https://www.thinkgeoenergy.com/geothermal-energy-has-potential-to-supply-35-of-el-salvador-energy-demand/) of energy as of August 2022 just as Bukele [predicted](https://nitter.it/nayibbukele/status/1479959706235981835#m) back in January. It's a lot more nuanced than these dumb "bitcoin went down, lol El Salvador ruined" concern trolls which are mostly IMF accounts all over social media. They don't want Latin America escaping their clutches. Where would the US go for cheap labour and trade exploitation using toxic IMF loan agreements then? Bukele is bucking a trend and shooting for economic sovereignty for his country. He's extremely popular with his own people for fighting corruption and violence. But he's doing things against the interests of global elites. That's why he gets hit pieces from the same western media which wrote puff pieces and still continues to do so on SBF. He ran in 2019 on a platform of putting an end to crime and corruption. His Territorial Control Plan has drastically reduced homicide rate from 9.2 when he took office to 1.8 now in less than 4 years. According to [Gallup Poll](https://nitter.it/cidgallup/status/1592654953784365056#m), El Salvador now has the lowest rate for corruption in the form of bribery to expedite government process. Grassroots education initiatives like [these](https://nitter.it/MyfirstBitcoin_) that are happening on the ground teaching people young and old about self sovereignty, running a node, self custody and providing Bitcoin diploma courses. [These kids](https://nitter.it/MrTimothyAllen/status/1591516921580720132#m) all earned their Bitcoin diplomas last week in Ataco, El Salvador. [This](https://www.latimes.com/archives/la-xpm-2007-aug-04-fi-dollarize4-story.html) is what adopting the US dollar did for them in 2001 "The policy has had extremely negative effects on the lowest-income groups without doing much to help the overall economy... This was a remedy for a sickness that we didn’t have." El Salvador adopted a currency created out of thin air and controlled by the central authority in another country back in 2001. They adopted a neutral currency controlled by no one in 2021. How could they do this? Outrageous! Scandalous! Would you approve of a president who steers your country towards adopting a neutral, globally accessible sound money resistant to debasement which the government cannot manipulate or would you be happy your government has an infinite money printer to steal the value of your hard earned money whenever they feel like it? Would you be happy that a select few elites, humans just like you can create for free out of nothing something you are required to work for? Or would you like your government to earn every penny like you do? No oppressor likes losing control. If the 14 African countries using CFA Franc under oppressive French monetary colonialism start using bitcoin, they'll get similar hit pieces in western media. Watch out for this. When the Central African Republic passed their law in April adopting bitcoin as legal tender, the Bank of Central African States called it a "serious offence." This is the French-controlled central bank which was exposed by WikiLeaks in 2010 of stealing money from its reserves and giving it to French politicians.
FTR Celsius has been around since 2017. Also Voyager was founded in 2017 and Vauld in 2018. Pretty sure CoinFLEX is an exchange of sorts although I know very little about them but the internet says they were founded in 2019. I agree with the main point however and short of another black swan like Tether collapsing, I think the three you mentioned will survive.
tldr; The EU is set to vote on the Transfer of Funds Regulation (TFR) on March 31, 2022. Unstoppable Finance is urging MEPs in the European Parliament to vote against the amendments to the FTR. The EU could damage the heart of blockchain-based innovation, the company argues. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Post is by: DaddySkates and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoCurrency/comments/tt1it9/eu_parliament_voted_in_favour_of_the_ftr/ The ECON & LIBE committees of the EU Parliament voted in favour of the FTR compromises D & E that crack down on so called unregulated or unhosted wallets. Entire regulation draft will be voted on later today, but the whole thing is definitely going to happen. According on Patrick Hansen on Twitter: The Left, S&D, Greens, Renew have voted in favour while the PPE, ID, ECR mostly voted against. This is a major hit for crypto and I can see massive corrections across the market. Meanwhile exchanges are screaming in joy because they will be getting a massive influx of crypto. This is not the way to go with adoption. It's one step forward and two steps back. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
BREAKING: The ECON & LIBE committees of the EU Parliament voted in favor of the FTR compromises D & E that crack down on “unhosted” wallets. Entire regulation draft to be voted on later today, but will certainly go through. https://twitter.com/paddi_hansen/status/1509536318585454597
BREAKING: The ECON & LIBE committees of the EU Parliament voted in favor of the FTR compromises D & E that crack down on “unhosted” wallets. Entire regulation draft to be voted on later today, but will certainly go through. Breakdown of the vote & more updates in this thread. --- posted by [@paddi_hansen](https://twitter.com/paddi_hansen/) --- ^(If media is missing, please DM me with a link to submission url and tweet. I will do my best to solve the issue)
BREAKING: The ECON & LIBE committees of the EU Parliament voted in favor of the FTR compromises D & E that crack down on “unhosted” wallets. Entire regulation draft to be voted on later today, but will certainly go through. Breakdown of the vote & more updates in this thread. --- posted by [@paddi_hansen](https://twitter.com/paddi_hansen/) --- ^(If media is missing, please DM me with a link to submission url and tweet. I will do my best to solve the issue)
1/ Less than 48h before the vote on unhosted wallets in the EU (FTR regulation). Here is a quick thread on the current state of affairs & an update on the next steps (short & long-term), incl. details on the vote, trilogues, entry into force, rollout phase for companies etc. 👇 --- posted by [@paddi_hansen](https://twitter.com/paddi_hansen/) --- The tweet is a quote of a tweet posted by [@paddi_hansen](https://twitter.com/paddi_hansen/). Please reply "!quote" or "!q" to see the original tweet --- ^(If media is missing, please DM me with a link to submission url and tweet. I will do my best to solve the issue)
Yeah. It will be interesting. And if it all crashes and burns then that's going to be interesting too. I'm not attached to NFTs, but I love the idea of trusting the best open-source protocols that emerge because they work for the users, rather than big corps who spend most of the value they've extracted on marketing campaigns. And FTR I think the person in the original post is the dumbest shit.
FTR this made me look into [TumbleBit](https://eprint.iacr.org/2016/575.pdf) again and I was conflating its unique DoS protection with the censorship resistance property. It does not seem to have that either, sorry for misinforming you about this.
You're mixing past and future tense in ways that don't compute Their value now is a product of their perceived future value, as most people buy them for investments. That value could prove to be accurate, it could not. We'll see. FTR, I think most will become worthless.
No bringing factual comparisons in here now. You should know better. (FTR I am 100% BTC and 0 gold.)
FTR Wasabi 2, coming out this year will not be hard to tackle for beginners anymore.
And she has been railing against the financial inequities across the board. She is saying that Crypto is no different, but the Crypto fanboys ( FTR I hodl crytpo and am pro-crypto) immediately lose their shit if anyone dares to imply it is anything but a utopian solution.
It's also worth pointing out that the current climate is akin to the gold rush: everyone is looking at alts as a way to get rich quick, but only very very few actually do. While entirely possible, you have to be aware that pretty much no altcoin stays in the top 10 for very long. As a result, investing in an alt for long term is usually worse than putting it into BTC or ETH. In other words: be aware that if your goal is to get rich quick with altcoins, you'll have to hop between many different altcoins over the years. HODL works fine for the coins that have a proven track record of consistent returns, but the vast majority of altcoins don't and never will achieve that status. So if you want to HODL, BTC and ETH offer the least risk in crypto and still give high returns. HODLing with altcoins is just a total gamble with less chance than a lottery. So the name of the game with altcoins is "time the market and don't get attached!". The name with BTC and ETH is "DCA and HODL". Pick whatever you prefer, but keep this in mind. FTR, I'm absolutely fine with whatever strategy you want to go with. If that makes you rich and not me, that's totally fine :) Just don't get stuck in the delusional echochambers that are abundant in crypto.
This is a good perspective to take. I hadn’t considered other L2 solutions GME could pursue. If you were to place a bet on who GME is partnering with for their NFT marketplace, Loopring has the highest odds. FTR: I‘m heavily invested in GME and hold a very modest position in LRC. Bought my first crypto at the 2017 ATH. Terrible timing, but I hodled.
That's a shame, because it was the only post discussing its CONs for balance. FTR, here's the post: There have been way too many one-sided posts shilling Loopring lately due to GME head of blockchain research and its recent market action. There are definitely cost benefits for larger users, but there are issues prevent widespread adoption. Before you jump in and blindly buy LRC, please DYOR. Since there are already enough posts about the PROs, let's discuss the other side for balance. Loopring is a ZK Rollup platform and exchange originally founded in China. ZK rollups are very computationally-intensive and require strong infrastructure to process. The same goes with running nodes. Loopring calls itself a DEX, but it's towards the centralized end of the spectrum. It's able to operate feeless because it runs similarly to a CEX on a backend, except that it stores its transactions in a public Merkle tree. For customers, it makes sense mainly if you send out often on the Ethereum network. The biggest issue is that it costs massive ETH gas fees to move from Layer 1 to Layer 2. It also costs fees to move back to L2, though that's much, [much cheaper](https://l2fees.info/) because it's aggregated (which also means it could take a couple of hours depending on usage). It's about 60K gas units to move to Layer 2 because it requires using its smart contract. [We have users earlier this week reporting $300 gas fees to create the Layer 2 wallet]( https://np.reddit.com/r/loopringorg/comments/qiser5/why_it_is_so_expensive_to_move_eth_from_loopring/). Every time you want to move more funds to Layer 2, you will need to pay additional gas fees, so if you want to use it efficiently, you'll need to onboard as rarely as possible by whaling into the platform. Someone else mentioned counterfactual wallets yesterday, but that's just try-before-you-buy and doesn't address this issue at all. Given those fees, I'm not sure how Gamestop can use this since I doubt its customers are going to want to pay a $100-300+ onboarding fee. I suppose Loopring could just turn into a full CEX and introduce Layer 2 fiat onramps, but that kind of defeats the purpose. Other larger CEXs could introduce their own ZK Rollup solutions and beat them at their own game. Or you could use a sidechain solution with ZK Rollups. While you can always recover your funds on Layer 1 if Loopring ever goes down, it's also very expensive and impractical for smaller users. Someone did a test earlier this year and calculated that it takes about [1.3 million gas](https://medium.com/loopring-protocol/withdraw-from-loopring-3-1-the-first-ever-experiment-of-shutting-down-a-zkrollup-24e6f333ca57) (more or less depending on the token) to perform Merkle tree withdrawal, which is currently over $1000. Issues aside, if you are a whale, you will probably benefit greatly from using Loopring or any of the other ZK Rollup solutions.
People don’t look at what some of the projects are actually capable of, or their intentions. They see a funny name and assume it has not objective or value. I take your point but there’s also a truckload of assumptions going on too. SHIB for example (which I didn’t invest in FTR) has SHIB SWAP, and other function, ELON has a clear objective to support and fund space exploration and a roadmap of tech on the way. But people assume both are just total shitcoins with no direction.