BLEEP you JP Morgan Chase!
Lady Cryptic talks Zcash and JP Morgan Chase
BLEEP you JP Morgan Chase!
8 years ago by ladycryptic (50)
$5.08
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63 votes
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My thoughts exactly. The Banks will co-opt and divert the technology for their own private blockchain and then kill off the original open source chain.
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zk-snarks. Do I need to say more?
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You are talented at this stuff. I quoted your video in my post and maybe you got additional followers from it.
Reference
https://steemit.com/crypto-news/@dana-edwards/is-bitcoin-becoming-irrelevant
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oh yes, she did get followers from it: me. Thanks Dana!
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I remember hearing stories from friends about Chase closing their accounts because they used them to buy Bitcoin....funny how they have now jumped on the bandwagon....
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Agreed it's dangerous to invest in a coin that is backed by the likes of JP Morgan (fuck them) in the long term, but in the short term there could be money to be made if you get in and get out. Just depends if you're moral fiber can let you.
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Banks are always trying to find a way to take take and take! These jokers don't quit.
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STOP
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very amazing post nice
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Beautiful background :) but maybe a bit loud for a video
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I really enjoy your videos. Please keep em comming.
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how do they take the money ?
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Anytime a bank invests in anything they are trying to harbor their power. This is supposed to be peer to peer. WE are in control of our cryptocurrency, not the banks. It's not so much that they are taking the money, but that they are trying to remain in control of it, a portion of it anyway. We bailed JP Morgan out in 2008 for 12 BILLION dollars. Are you comfortable with this company being involved with cryptocurrency in any respect? #FJP
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Your concern is more than legitimate in my eyes. The danger with the banks jumping in on crypto is that - in theory - the ability to create fiat could be used to buy crypto and push up the perceived entrance price for everyone else (especially for those still mired in the fiat system, in effect keeping them on the reservation) while simultaneously creating more value for themselves (using something that costs them essentially nothing to create).
The nefarious intelligence of the banksters is not to be underestimated, they have been hiring the most brilliant and unscrupulous minds for centuries to expand and maintain the system of indentured servitude / financial slavery that dominates the planet today. They will not go quietly into the long night.
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Thank you
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What about the tax situation?
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HEAR! HEAR!
And the total billed to the taxpayers was 15,000,000,000,000, that is 15 TRILLION dollars. We need to hold their heads at the guillotine.
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Their involvement I agree is questionable. I think the role of banks should be identity services. We do need a way for people to have a private pseudo-anonymous identity which they can prove belongs to a unique human individual. This is necessary for something like the BAT token to work for instance. Banks are pretty good at verifying identity and I can see them having a role at that, but it really depends on their intentions and I see it as a case by case situation to determine if their services are a positive or negative influence.
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I contributed to the humaniq ICO which is ultimately an android identifying a human. If this software exists then why do we need large institutions involved? Food for thought.
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We will have to see if that method is equivalent in effectiveness to traditional methods. It could prove to be a successful experiment and if it works then maybe we will not have to rely on the banks for that.
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What do you think of this ICO?
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hmm interesting.
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why do they need a token? It's a card!
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Legit question - if you resteem somebody elses post, do you also get a reward for resteeming?? Super curious to know. So much to still learn about steemit.
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no reward for resteem
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Now my opinions on your video, I think there is a balance to be had between street credibility and legitimacy. Your argument is that Zcash is striking the wrong balance by forming an alliance with JP Morgan Chase?
More importantly, the tax situation is terrible. The IRS crackdown is a much bigger risk in my opinion than anything from the banks. The capital gains taxes are currently so high that people cannot exit out into fiat in a lot of places without paying 40, even 50% in taxes. The SEC also represents risk, and what I'm highlighting here is regulatory risk. In my opinion regulatory risk is a greater near term danger than anything banks can do, and while banks might want to use the technology or buy the tokens, they still end up having to hire people like us, or buy the tokens from early adopters, so it's still somewhat fair as people are either selling their time or tokens to the banks in exchange for the fiat which I suppose they can then use to pay their bills or buy more tokens.
In the case of taxes though, taxes can only be paid by legal tender which requires a massive cash out just to pay taxes. I'm no economist, but I think the high taxes discourage actual spending of these tokens.
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There is no law, that requires that you pay income tax, which would essentially be the capital gains tax in our case. Check out these videos.
"Give me control of a nation's money and I care not who makes it's laws" — Mayer Amschel Bauer Rothschild
Let’s take back the control of the money and re-write the laws
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Great video just needs to be a little louder. :)
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zk-snarks is just the underlaying cryptographic tool. They just double as a blockchain company. Briliant business plan if I must say!
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This post has been ranked within the top 80 most undervalued posts in the second half of May 23. We estimate that this post is undervalued by $17.46 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: May 23 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
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Keep it coming sister @ladycryptic !!
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yeah, i have a bad feeling too.
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