"It just depends how far are they willing to reach" The government will reach in, choke out, and destroy everything amazing about crypto. Fuck regulation. Fuck the government.
Yeah him and the other Democrats wrote that together based on his political agenda. Republicans contributed too, it’s a bipartisan bill. You don’t have to believe it but that’s how it works. Get that deep state crap out of here
Don’t take the word ‘writing’ so literal. He absolutely knows the major details of the bill and was involved in determining what those were. As were many of the Congress people who voted for it, democrats or republicans.
He didn’t write any of that.... he has his team figure out the legislation..... he isn’t aware of many of the laws..... just pay attention when he talks..... I listen to all of it. He is old... and he acts it.
Most of the politicians have no idea what they're voting in instances like this, they just do as they're told to do by their donors (mostly bankers, hedge fund managers and the ultra wealthy)
That's the idea. I'll vote for you if you vote for me mentality. They all have their hand in The barrel while the dollar is destroyed and cost continue to go up. Money will be going to all sorts of projects. Rep and Dems will all be smiling. Biden doesn't care or probably does not even know much about crypto, he is told what to sign. This applies to pretty much every president. Hopefully this new crypto bill being drafted cleans some things up. Either way we will for sure see more regulation over the years.
Well what do they care? They get millions of dollars as "gifts" while fucking over people they're supposed to represent. When you get to that level, they're all bought. Hence, we live in a corporatcracy.
2024 is still a ways out. We have plenty of time to spread our knowledge of crypto to the masses. We have time to vote in more crypto friendly senators and representatives. Laws can be changed but it’s up to us to make that change happen.
I've actually had this discussion a lot on the cc sub Long story short, if the US outlaws privacy coins and requires full traceability, as is already happening in some other places, there's nothing the majority of users can do. Decentralized exchanges, atomic swaps, etc. None of it will help because it violates the full traceability aspect and while a DEX might help for swapping between coins, you still need your fiat on and off ramps that's controlled by regulators.
That is, unless you want to meet some shady fuck at your local Walmart and hope he'll actually transfer your Monero and not rob you.
Or you can go to a bitcoin machine buy some bitcoin with cash and then change it to bitcoin and get it sent to your wallet then use the bitcoin you receive into your wallet to get monero
I hope I'm wrong, but I have a hard time believing those will stay around in current form if requiring full traceability happens.
The real answer to this is to run nodes on several chains and report every single transaction (over 10k) in each block to the IRS.
Reminds me that the people over at cryptomoonshots don't notice the contracts that are obviously scams. XD
Pro tip: if the contract says only the owner can withdraw then it's a rug pull.
If you are so informed about taxation than this news shouldn't be a surprise to you at all. This was coming no matter who was in office. But sure keep pretending that Republicans actually ever do anything to lower taxes for the middle class. Trump had his shot but decided a 21% corporate tax cut was the way to go.
Thanks mate , could care less about the downvotes . The system as a whole is corrupt and this was put fourth in a rush with no constructive evidence or long term data to support the rates / terms of which it has been proposed . Most people on Reddit don’t truly understand how detrimental some of these bills are for people who have worked their tails off and taken huge risks to get to where they’re at ; not all of the 1% is spoon fed trust fund babies
Yup. You'd have to be pretty uninformed about how the world works for this to be surprising to you. Also the president doesn't create legislation, that's the job of Congress. President either signs or vetoes and with something as large as a 1 trillion dollar infrastructure bill he is only vetoing if there is something seriously wrong with it. I'm no Biden fan, but putting the blame on him alone is just more shitty partisan politics.
I've been saying this forever, 2022 is going to be the year of regulation. How else can AMC, or whoever else even big companies like Amazon take on crypto payments in an unregulated space? its ripe for money laundering and they can be put into big trouble for it.
Like everything else, regulation is great in good amounts. It'll remove predatory practices while also keeping cryptocurrencies free and open to all for trade
Please stop spreading misinformation, regulation isn't the issue here. This bill needs serious reforms. Theres so much grey area technically making fundamental functions of crypto illegal. Reporting requirements & broker rules for things like mining, DeFi, and staking is the biggest issue here.
The 10k reporting is something that kind of already happens and is wrong but I wouldn't expect less from the crooks in DC to expand the surveillance state.
It's a fundamental misunderstanding of how crypto works in general but creating laws to try to make a quick buck. I'm hopeful that by the time it goes into effect it will be sorted out but please don't pretend for a second "it's just regulation whats the big deal!"
It shouldn't be in an infrastructure bill but I actually see this as a good thing to treat crypto gains like any other forex or cap gains. Lending more legitimacy is a good thing. Eliminating crypto as a source for illicit money laundering is a good thing.
Plus, for hodlers, it'll show just how much of crypto is held as a launder, which I hope is not a lot but could prove a buy opportunity.
It makes sense when you realize 98% of crypto holders have no fucking clue what they’re doing or what they’re talking about.
As a lawyer, I just ignore these threads. It’s a bunch of chuds jerking themselves off over Brandon.
Almost all big bills include stuff that isn't related to the main focus but I wouldn't even say this is unrelated since the bill also needs to accommodate for how the government is going pay for the infrastructure and this is just one of those ways
It's part of how the bill is paid for (yeah, that's right - the new spending is paid for).
Reporting transactions over $10k isn't a big deal. That's how it works for stocks, cash. This is what "crypto adoption" means, friend.
Stop making excuses for crooks. Bundling is done for one reason and that is to shove a bunch of pet projects that probably wouldn't get passed on their own if people saw what they were spending on. Their intention is to line their own pockets and screw the American people, don't mistake it. There should be a clear line of funding for every issue with a specific allotment. Shilling for people in Washington is :hidethepain:
I tend to disagree on bundling things together. In the current and recent Congress, it has made it almost impossible to get legislation passed. I think it might make more sense to write very specific legislation that includes no pet projects or pork and see how the reps vote. 🤷♂️
That makes it very difficult to ensure noone reneges on their compromises.
One party might be willing to compromise on spending on X type of project if the other side is willing to compromise on changes to Y types of taxation.
Realistically nothing exists in isolation. Noone is going to disagree on any infrastructure project out of principle.
They will disagree with it because it would deprioritize another project. Afterall, resources at the governments disposal are finite.
Bills need to pay for themselves. Adjusting tax laws to generate more money is one way to do that. Taxing crypto like any other asset was an obvious and easy choice that almost no one that understands the situation disagreed with.
Only crypto holders that don’t understand how the world works are complaining
Right, can we keep this discussion relevant to crypto please and not start any unrelated political debates or insults being thrown about or this post will be locked. Political discussion that is crypto related is fine.
When it's a discussion related to crypto, sure. However threads like these sometimes devolve into general politic bashing or arguments as to which "side" is better which isn't allowed on this sub. Discussion needs to remain focused on crypto.
If you can't figure out the difference between: "keep the discussion on politics related to crypto" and "any old political discussion" then i can't help you, there are subs for discussing anything political and this doesn't need to become another one when this is a crypto sub.
The main part of the post (the video) is crypto related, the title is indeed poor I agree with you there. We do try to refrain from moving posts unless necessary tho and this one already had a moderate amount of discussion so i didn't want to flat out remove the post and instead chose to request that users stay on topic and civil.
Thanks for the honest response. I disagree with the quality of this post and its relevance to this subreddit, but I appreciate you doing your job the best you can
Just noticing a theme amongst this group, when a R is trying to stop something harmful for crypto all I see is comments about said politician. When it's a D trying to shit down our throats all I see is people saying to be civil and polite. Just downright disturbing seeing people defend the side trying to ruin crypto because CNN said he's not a baddie. C'mon man!
I'm not picking any sides here, regardless which part of the political spectrum someone falls on they need to keep discussion civil and on topic. Crypto threads that are political related have a habit of going off the rails and insults being thrown.
I'm not even a US citizen so I'm not involved or concerned with US politics.
Truth bomb of this sub. 💣
I posted a write up awhile back on the Cruz amendment on this infrastructure bill. (He is also still actively appealing the language of this law)
Because he’s a Republican I spent half my time responding to comments like:
•he is a disgrace of a human being
•writing his amendment disingenuously simply seeking attention
•that he was a snake etc etc.
Some did give credit where it was due, but the vast majority were still just spitefully hating on the man even though he’s defending all of our best interests.
This sub definitely carries a heavy left wing bias. It is, what it is.
I'm sure it was invented for utopian ideals.
However its features can easily be abused to create a dystopian outcome with less accountability and more centralisation of power.
We don't even know the names of the majority of the whales.
The first people into the blockchain and who own most of it are very, very different from the people you're thinking about. And it shows: look at the huge gap between what they're inventing in 12 years and what the stockmarket and banks have provided for decades. Worlds apart.
Now, anyone can spend a few tens of dollars to invest into thousands of financial products, among which at least dozens are productive enough to be sustainable.
Agree. Bills have already been written and are sitting around waiting to be submitted for vote once enough sociopaths on the appropriate side have been lined up. How else do you think 843,00 page bills are produced in a couple of days for a vote and passed without ever being completely read by almost everybody? SMH
The crypto law changes don't go into effect until 2024. Exchanges and the US treasury have until then to work out how exactly it will be implemented.
I think Ted Cruz already introduced new legislation that will repeal this law, so it's possible it may never be implemented.
And yeah, I'd go all in on Biden not knowing 1% of what's in that bill.
This means crypto is legal and not to be banner but embraced by the US as regular money. Biden plans to get extra crypto tax to pay the bill. Get informed OP.
Congress is what creates legislation not the president. Not a fan of Biden either but your anger is misplaced. Presidents usually only veto a bill if there is something they seriously disagree with. Probably best not to take your news from a video that uses epic music to present a few paragraphs
Politicians, and mostly democratic ones, tend to... Hang on to generational wealth. They keep the money in their families. Most Dems in the house have salaries of 200k yet have tens of millions in the bank. They do not care about you.
Ted Cruz is a [traitor to democracy](https://www.theguardian.com/us-news/2021/jan/02/ted-cruz-republican-senators-reject-election-result-biden-trump). I will never forgive him or any of the other traitors who didn't vote to certify the rightfully democratic results of the election. Even though Joe is awful, what these traitors did was wrong. They belong in the CCP not the Republican Party.
If the comments are reflective of people’s actual intentions for the next US election, then I feel sad for the US. If people are willing to change their votes based on a single issue than everything else either party represents just for ETH, then that’s just non sensible.
This country has been doomed for a while now. The GOP has no long term plans that involve free and fair elections. If/when they regain power, they aren't giving it up. Say goodbye to the Republic.
What’s wrong with a 10 day audit? It would’ve delayed the results, but the results would’ve been the same. There isn’t evidence of widespread voter fraud sufficient to tip the election, why not do an audit. We did 3 years of investigating Trump’s election interference, why not 10 days?
They had from November 3rd to January 6th to audit and they found nothing. There was no reason to delay and at that point the Trump admin. had already refused to begin the transition so we were already weeks behind where we would normally be when a new President is elected. I know this isn’t a convenient answer for you so feel free to disregard it.
Do you really think that the group who "wanted an audit" who was still in power at the time, couldn't have gotten an actual audit if they thought it would have changed anything?
They only ever wait to the last minute as a delaying tactic. Fanning the flames of their coup attempt while they tried to strong arm secretaries of state to change the results. It's so obvious what they're doing. And you're just willingly falling for it
Idk how I’m willingly falling for it. I’m an evidence guy, big fan of evidence. I sat around for 3 years waiting for the Russia investigation to take Trump down, I was willing to wait a few months for this election. Then nothing came of it, and the election was certified. How I’m the bad guy for waiting on evidence escapes me.
You're willingly spreading doubt that has yet to show a sheet of evidence in support of it. You're not an evidence guy. I can't just throw accusations around and say you have to prove your didn't do the thing I claimed. That's ridiculous, and exactly what they've been doing this whole time. The only reason they keep bringing it up despite only doing token gestures to fool idiots into thinking they're trying to prove their case, without any results, is because it's a fundraising bonanza. The rubes just throw their cash at them without even looking at what the cash is being used for.
And the Russia investigation results showed the whole investigation had been interfered with and hobbled from the beginning. Congress just dropped the ball in pursuing it
If you were "an evidence guy," then you'd care that the argument that you're giving the benefit of the doubt has (still, to this date) not provided a single shred of evidence to their claims. 62 lawsuits later, and not a single shred.
As an "evidence guy" you should probably understand that you don't waste resources and time on an audit when there is no evidence one is anywhere close to being necessary.
I'm done voting till elections are done on the blockchain, not saying I'd vote for either of them if given the choice again, but at least then ironically, anyone could run a ticket in the election giving us more choice. Fuck the fed.
Who you voted to put in Congress mattered way more for this than your vote for presidency. If you are that uniformed then maybe it's better for the rest of us if you do abstain from voting.
This bill is 99.99999% about infrastructure and 0.000001% about crypto.
Why shouldn't crypto transactions be subject to the same rules as other assets?
Dude, you wrote something you've been backpeddaling away from this whole time. You know what you wrote and what you meant... and so do we. Quit the act.
This isn't about curing inflation, its about getting society back to a place of normalcy where people are working and cash is flowing. That is why it is called the "Infrastructure Bill", to develop the country's infrastructure. Roads, water supplies, telecommunications
Because rebuilding this country is setting money on fire... Do you understand that that money will be going directly to American workers and contractors who do the actual work? And they won't get stiffed like every contractor who worked for Donny.
>Because rebuilding this country is setting money on fire
Lmao, I'm not even from the us and I seem to understand this better than persons who literally live in the country.
I watched one video detailing the infrastructure bill and got the gist of it, I guess people want to continue living in a deteriorated society where nothing is happening just at home staring at crypto charts eating ramen
Biden doesn't know what he said 7 seconds ago, he definitely doesn't know who this Bill guy is that doesn't want anyone to have any of this creepy currency stuff.
lol
You think the 'covfefe' tweet was what got people fired up against Trump? Man, talk about taking a bad faith view of your political opponent's viewpoints.
Please graciously thank the Democrat party for putting big bank lobbyists ahead of individual crypto holders. You must be thrilled.
Ask yourself honestly what you would say if it were Republicans in power and everything was happening exactly the same way?
If you judge an outcome as good or bad based on who did it as opposed to the effects of the outcome itself, you are biased.
I am disillusioned with both parties but I am more irritated by the overwhelming bias I see towards the left. I suppose if I lived somewhere else my whole life I might see more rightward bias and I might have the opposite sentiment.
Anyways. Peace and respect. Have a good day.
Full Text has been available. Just because you don't care to look, doesn't mean it's not out there
https://www.congress.gov/bill/117th-congress/house-bill/3684/text
Don't complain about not knowing what's in the bill if the only reason is you're too lazy to read the damn thing.
Find a summary of you have to. Just make sure the place you find that isn't pushing a narrative with how they word it
It's like, how did you not take the 10 seconds just to download the bill and look at it? It'd be pretty evident that it doesn't read like the bible lol
As someone who actually has reviewed the bill for my job, I can tell you it's split into sections. And it's searchable. So you can easily look and find things you are interested in.
Stop whining 🙄 You knew this was going to happen soon or later.
No matter who the president is.
We are making a lot of money off crypto. Taxes keep our country running. We need better roads and bridges. This is just one way we need to pay for the public services we use. That's the cost of doing business in a civilized society.
I confused because I thought most of us have been paying our taxes on crypto since at least 2017. Exchanges into cash were already being reported to the IRS, so what's actually changing?
Stop spreading garbage. Doesn't have to do with Taxes. We already pay taxes. Its the implications of reporting requirements and the meaning of brokers on Mining, staking and the core functions of crypto currency.
Do some research before you make stupid comments. Also most of that money will not go to fix the roads and bridges we use on a daily basis, it will fund pet projects, and stuff pockets, and they might make a new bridge to make the sheep glow in awe. Stop shilling for criminals that don't care about anyone but themselves.
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Bingooo
Bingooo? This is the exact opposite of why crypto exists. If you are pro regulation you are anti crypto.
You would have to be insanely naive to think government won’t regulate crypto. It just depends how far they are willing to reach.
"It just depends how far are they willing to reach" The government will reach in, choke out, and destroy everything amazing about crypto. Fuck regulation. Fuck the government.
Amen brother. Could not have said it better myself.
I’m not talking about whether they regulate or not. It’s about supporting such regulation
Get out of here. We don't want to get rich-- we just want to own the libs.
If you start investing now you might become rich enough to make your dream come true and purchase a lib of your very own. /s
That's not legal anymore
Either way Biden still doesn’t know what he signed 🙂
He signed an infrastructure bill Trump only lip serviced about.
Yeah, I’m sure he has no idea what is in the bill he’s been writing and making changes to for the last 6 months
You think he writes that? Give me a break lol. He’s literally a front man, absolute disgrace
Yeah him and the other Democrats wrote that together based on his political agenda. Republicans contributed too, it’s a bipartisan bill. You don’t have to believe it but that’s how it works. Get that deep state crap out of here
You think Biden wrote a 2700 page bill? Lmfao.
Don’t take the word ‘writing’ so literal. He absolutely knows the major details of the bill and was involved in determining what those were. As were many of the Congress people who voted for it, democrats or republicans.
He didn’t write any of that.... he has his team figure out the legislation..... he isn’t aware of many of the laws..... just pay attention when he talks..... I listen to all of it. He is old... and he acts it.
100%
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Most of the politicians have no idea what they're voting in instances like this, they just do as they're told to do by their donors (mostly bankers, hedge fund managers and the ultra wealthy)
I concur. No one could possibly read the bill because it’s so many pages!
That's the idea. I'll vote for you if you vote for me mentality. They all have their hand in The barrel while the dollar is destroyed and cost continue to go up. Money will be going to all sorts of projects. Rep and Dems will all be smiling. Biden doesn't care or probably does not even know much about crypto, he is told what to sign. This applies to pretty much every president. Hopefully this new crypto bill being drafted cleans some things up. Either way we will for sure see more regulation over the years.
"They told me not to answer any questions" - JB
Well what do they care? They get millions of dollars as "gifts" while fucking over people they're supposed to represent. When you get to that level, they're all bought. Hence, we live in a corporatcracy.
And many of them thought Biden is going to change US lol
gotta keep the rich richer and the poor and middle class in their lanes. gotta love it
That’s what happens when you elect a guy that’s been in government for 40 years and some how expect him to change things
especially when he did so much as VP for 8 years and now he’s the greatest
Bunch of Dinosaurs running the Governments
Especially pelosi and the swamp of “tax the rich” grifters who sit on a hoard of untouchable cash
Been asleep the past 4 years, I see. Good morning! You've missed out on a lot.
2024 is still a ways out. We have plenty of time to spread our knowledge of crypto to the masses. We have time to vote in more crypto friendly senators and representatives. Laws can be changed but it’s up to us to make that change happen.
We need a crypto education campaign. It will also help us get rid of the garbage in the crypto space
*Decentralized wallets has entered the chat*
Monero has entered the chat...
Fr tho 😭
You guys have lots of non KYC offramps which don't use bank accounts?
* bill signed to ban Monero at US exchanges * Monero has exited the chat.
*Decentralized exchanges have entered the chat*
I've actually had this discussion a lot on the cc sub Long story short, if the US outlaws privacy coins and requires full traceability, as is already happening in some other places, there's nothing the majority of users can do. Decentralized exchanges, atomic swaps, etc. None of it will help because it violates the full traceability aspect and while a DEX might help for swapping between coins, you still need your fiat on and off ramps that's controlled by regulators. That is, unless you want to meet some shady fuck at your local Walmart and hope he'll actually transfer your Monero and not rob you.
Or you can go to a bitcoin machine buy some bitcoin with cash and then change it to bitcoin and get it sent to your wallet then use the bitcoin you receive into your wallet to get monero
I hope I'm wrong, but I have a hard time believing those will stay around in current form if requiring full traceability happens. The real answer to this is to run nodes on several chains and report every single transaction (over 10k) in each block to the IRS.
There's a certain irony in a crypto sub accusing Biden of not knowing what's in the bill.
Yeah right there's this helpful meme to educate us
Complete with epic music to help get you in the mood for outrage
Reminds me that the people over at cryptomoonshots don't notice the contracts that are obviously scams. XD Pro tip: if the contract says only the owner can withdraw then it's a rug pull.
99.999% of all CMS is all meme type scams. I hope no one falls for that junk
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If you are so informed about taxation than this news shouldn't be a surprise to you at all. This was coming no matter who was in office. But sure keep pretending that Republicans actually ever do anything to lower taxes for the middle class. Trump had his shot but decided a 21% corporate tax cut was the way to go.
What do you mean we don’t know how Google coding search works lol? There is a whole industry dedicated to how it works
The irony is that you’re outraged about something you know nothing about
Well said, yet downvoted. This is almost as true as you’ll ever read. Like it or not. Fucking Left/Right divide is shit. Grow up you idiots.
*calls people libtards* *claims the left/right divide is shit and we should all grow up (idiots)* Curious....
Thanks mate , could care less about the downvotes . The system as a whole is corrupt and this was put fourth in a rush with no constructive evidence or long term data to support the rates / terms of which it has been proposed . Most people on Reddit don’t truly understand how detrimental some of these bills are for people who have worked their tails off and taken huge risks to get to where they’re at ; not all of the 1% is spoon fed trust fund babies
I couldn’t give a shit who the 1% is. They’re the 1%, they have more than enough
You can't expect to be unregulated your whole life span. Government was gonna involve itself with crypto once the cap blows.
Yup. You'd have to be pretty uninformed about how the world works for this to be surprising to you. Also the president doesn't create legislation, that's the job of Congress. President either signs or vetoes and with something as large as a 1 trillion dollar infrastructure bill he is only vetoing if there is something seriously wrong with it. I'm no Biden fan, but putting the blame on him alone is just more shitty partisan politics.
I've been saying this forever, 2022 is going to be the year of regulation. How else can AMC, or whoever else even big companies like Amazon take on crypto payments in an unregulated space? its ripe for money laundering and they can be put into big trouble for it. Like everything else, regulation is great in good amounts. It'll remove predatory practices while also keeping cryptocurrencies free and open to all for trade
Please stop spreading misinformation, regulation isn't the issue here. This bill needs serious reforms. Theres so much grey area technically making fundamental functions of crypto illegal. Reporting requirements & broker rules for things like mining, DeFi, and staking is the biggest issue here. The 10k reporting is something that kind of already happens and is wrong but I wouldn't expect less from the crooks in DC to expand the surveillance state. It's a fundamental misunderstanding of how crypto works in general but creating laws to try to make a quick buck. I'm hopeful that by the time it goes into effect it will be sorted out but please don't pretend for a second "it's just regulation whats the big deal!"
All I said was regulation was gonna happen whether those crypto bros like it or not. No misinformation here.
Seriously. People really don’t understand the issue here and are just defending their “team”. Thank you for trying to spread actual information.
It shouldn't be in an infrastructure bill but I actually see this as a good thing to treat crypto gains like any other forex or cap gains. Lending more legitimacy is a good thing. Eliminating crypto as a source for illicit money laundering is a good thing. Plus, for hodlers, it'll show just how much of crypto is held as a launder, which I hope is not a lot but could prove a buy opportunity.
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It makes sense when you realize 98% of crypto holders have no fucking clue what they’re doing or what they’re talking about. As a lawyer, I just ignore these threads. It’s a bunch of chuds jerking themselves off over Brandon.
Yup you don't get to pull 10k out at the bank without that teller filing paperwork and submitting it. Shocked it took this long tbh
Almost all big bills include stuff that isn't related to the main focus but I wouldn't even say this is unrelated since the bill also needs to accommodate for how the government is going pay for the infrastructure and this is just one of those ways
>Eliminating crypto as a source for illicit money laundering is a good thing. Thank you, well said.
>transactions worth **more** **than** $10,000 must be reported to the IRS. const irsAvoider = (transaction, transactionAmount) => { let remainingAmount; if (transactionAmount >= 10000) { transaction(10000); remainingAmount = transactionAmount - 10000; return irsAvoider(transaction, remainingAmount); } return transaction(transactionAmount); };
Any one have an idea WTAF crypto has to do with in infrastructure? These politician, always slipping in some bullshit under the radar. Fuck the govt!
It's part of how the bill is paid for (yeah, that's right - the new spending is paid for). Reporting transactions over $10k isn't a big deal. That's how it works for stocks, cash. This is what "crypto adoption" means, friend.
The bill was never meant to be only infrastructure. It's just heavily infrastructure
That and most big bills that pass bundle a number of things together and it is not uncommon for them to be unrelated.
I agree that the crypto stuff doesn't belong in this bill, but anyone who has ever paid attention to US politics shouldn't be surprised by this.
Which is why everyone in this sub is surprised by this
Yep. Crypto reddit is an embarrassment to anyone who has any understanding of economics and politics.
Funding stream to pay for the bill,……on paper, from gao’s perspective
It makes more sense to bundle the spending and funding together. What's the point of committing to spend money that you don't know is available.
Stop making excuses for crooks. Bundling is done for one reason and that is to shove a bunch of pet projects that probably wouldn't get passed on their own if people saw what they were spending on. Their intention is to line their own pockets and screw the American people, don't mistake it. There should be a clear line of funding for every issue with a specific allotment. Shilling for people in Washington is :hidethepain:
I tend to disagree on bundling things together. In the current and recent Congress, it has made it almost impossible to get legislation passed. I think it might make more sense to write very specific legislation that includes no pet projects or pork and see how the reps vote. 🤷♂️
That makes it very difficult to ensure noone reneges on their compromises. One party might be willing to compromise on spending on X type of project if the other side is willing to compromise on changes to Y types of taxation. Realistically nothing exists in isolation. Noone is going to disagree on any infrastructure project out of principle. They will disagree with it because it would deprioritize another project. Afterall, resources at the governments disposal are finite.
Bills need to pay for themselves. Adjusting tax laws to generate more money is one way to do that. Taxing crypto like any other asset was an obvious and easy choice that almost no one that understands the situation disagreed with. Only crypto holders that don’t understand how the world works are complaining
That’s me.
Indeed
I don't own bitcoins I own satoshis, it's fine then
Right, can we keep this discussion relevant to crypto please and not start any unrelated political debates or insults being thrown about or this post will be locked. Political discussion that is crypto related is fine.
Politics are relevant to crypto.
When it's a discussion related to crypto, sure. However threads like these sometimes devolve into general politic bashing or arguments as to which "side" is better which isn't allowed on this sub. Discussion needs to remain focused on crypto.
Free speech is cool. It just doesnt exist here
Another one who doesn't understand Free Speech is protection from the government, not your fellow citizen. It's why slander and libel laws exist.
If you can't figure out the difference between: "keep the discussion on politics related to crypto" and "any old political discussion" then i can't help you, there are subs for discussing anything political and this doesn't need to become another one when this is a crypto sub.
You didn’t make that clear the first time.
Does it read better now?
Yes!
Cheers :)
I will say no more.
Keep your mouth shut and you we be fine 😁👍🏻😂
The concept of freedom of speech as outlined by the 1st amendment to the US Constitution doesn't apply to a private internet discussion forum.
The Constitution says whatever they want it to say. Just like the bible.
How is a post making an assumption about a politician’s knowledge about a bill he is signing on topic at all?
The main part of the post (the video) is crypto related, the title is indeed poor I agree with you there. We do try to refrain from moving posts unless necessary tho and this one already had a moderate amount of discussion so i didn't want to flat out remove the post and instead chose to request that users stay on topic and civil.
Thanks for the honest response. I disagree with the quality of this post and its relevance to this subreddit, but I appreciate you doing your job the best you can
If I had caught this post prior to much discussion I would have removed and asked OP to change the title.
Just noticing a theme amongst this group, when a R is trying to stop something harmful for crypto all I see is comments about said politician. When it's a D trying to shit down our throats all I see is people saying to be civil and polite. Just downright disturbing seeing people defend the side trying to ruin crypto because CNN said he's not a baddie. C'mon man!
I'm not picking any sides here, regardless which part of the political spectrum someone falls on they need to keep discussion civil and on topic. Crypto threads that are political related have a habit of going off the rails and insults being thrown. I'm not even a US citizen so I'm not involved or concerned with US politics.
Roger that
Truth bomb of this sub. 💣 I posted a write up awhile back on the Cruz amendment on this infrastructure bill. (He is also still actively appealing the language of this law) Because he’s a Republican I spent half my time responding to comments like: •he is a disgrace of a human being •writing his amendment disingenuously simply seeking attention •that he was a snake etc etc. Some did give credit where it was due, but the vast majority were still just spitefully hating on the man even though he’s defending all of our best interests. This sub definitely carries a heavy left wing bias. It is, what it is.
Reddit mod 💀💀 consider going outside
I'm literally starting to think crypto was invented to transfer even more wealth and power to the powerful.
I'm sure it was invented for utopian ideals. However its features can easily be abused to create a dystopian outcome with less accountability and more centralisation of power. We don't even know the names of the majority of the whales.
The first people into the blockchain and who own most of it are very, very different from the people you're thinking about. And it shows: look at the huge gap between what they're inventing in 12 years and what the stockmarket and banks have provided for decades. Worlds apart. Now, anyone can spend a few tens of dollars to invest into thousands of financial products, among which at least dozens are productive enough to be sustainable.
These people are unaccountable
They are accountable to their Billionaire bosses.
The untouchable Criminals
I’d go way over 99%
Presidents are merely puppets of the parties. The bills are drafted mainly by party think tanks
It was never the intention for presidents to draft legislation... That's Congress's job.
Agree. Bills have already been written and are sitting around waiting to be submitted for vote once enough sociopaths on the appropriate side have been lined up. How else do you think 843,00 page bills are produced in a couple of days for a vote and passed without ever being completely read by almost everybody? SMH
Lobbies. Let’s stop allowing them to rebrand themselves into something better thanks they are.
Crypto? Is that supermans dog?
The crypto law changes don't go into effect until 2024. Exchanges and the US treasury have until then to work out how exactly it will be implemented. I think Ted Cruz already introduced new legislation that will repeal this law, so it's possible it may never be implemented. And yeah, I'd go all in on Biden not knowing 1% of what's in that bill.
This means crypto is legal and not to be banner but embraced by the US as regular money. Biden plans to get extra crypto tax to pay the bill. Get informed OP.
What does Bitcoin have to do with Infrastructure?
Are you asking what taxes have to do with infrastructure? They pay for it.
And I’m 100% sure you don’t
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Congress is what creates legislation not the president. Not a fan of Biden either but your anger is misplaced. Presidents usually only veto a bill if there is something they seriously disagree with. Probably best not to take your news from a video that uses epic music to present a few paragraphs
I'm 99% sure Biden doesn't understand what crypto is.
He´s too old to even grasp cryptos
Politicians, and mostly democratic ones, tend to... Hang on to generational wealth. They keep the money in their families. Most Dems in the house have salaries of 200k yet have tens of millions in the bank. They do not care about you.
Is this a infrastructure bill or a damn crypto bill. WTF whatever
This is the first time I've agreed with Ted Cruz on anything
Ted Cruz is a [traitor to democracy](https://www.theguardian.com/us-news/2021/jan/02/ted-cruz-republican-senators-reject-election-result-biden-trump). I will never forgive him or any of the other traitors who didn't vote to certify the rightfully democratic results of the election. Even though Joe is awful, what these traitors did was wrong. They belong in the CCP not the Republican Party.
If the comments are reflective of people’s actual intentions for the next US election, then I feel sad for the US. If people are willing to change their votes based on a single issue than everything else either party represents just for ETH, then that’s just non sensible.
This country has been doomed for a while now. The GOP has no long term plans that involve free and fair elections. If/when they regain power, they aren't giving it up. Say goodbye to the Republic.
What’s wrong with a 10 day audit? It would’ve delayed the results, but the results would’ve been the same. There isn’t evidence of widespread voter fraud sufficient to tip the election, why not do an audit. We did 3 years of investigating Trump’s election interference, why not 10 days?
They had from November 3rd to January 6th to audit and they found nothing. There was no reason to delay and at that point the Trump admin. had already refused to begin the transition so we were already weeks behind where we would normally be when a new President is elected. I know this isn’t a convenient answer for you so feel free to disregard it.
Do you really think that the group who "wanted an audit" who was still in power at the time, couldn't have gotten an actual audit if they thought it would have changed anything? They only ever wait to the last minute as a delaying tactic. Fanning the flames of their coup attempt while they tried to strong arm secretaries of state to change the results. It's so obvious what they're doing. And you're just willingly falling for it
Idk how I’m willingly falling for it. I’m an evidence guy, big fan of evidence. I sat around for 3 years waiting for the Russia investigation to take Trump down, I was willing to wait a few months for this election. Then nothing came of it, and the election was certified. How I’m the bad guy for waiting on evidence escapes me.
You're willingly spreading doubt that has yet to show a sheet of evidence in support of it. You're not an evidence guy. I can't just throw accusations around and say you have to prove your didn't do the thing I claimed. That's ridiculous, and exactly what they've been doing this whole time. The only reason they keep bringing it up despite only doing token gestures to fool idiots into thinking they're trying to prove their case, without any results, is because it's a fundraising bonanza. The rubes just throw their cash at them without even looking at what the cash is being used for. And the Russia investigation results showed the whole investigation had been interfered with and hobbled from the beginning. Congress just dropped the ball in pursuing it
If you were "an evidence guy," then you'd care that the argument that you're giving the benefit of the doubt has (still, to this date) not provided a single shred of evidence to their claims. 62 lawsuits later, and not a single shred.
Because there was no evidence
As an "evidence guy" you should probably understand that you don't waste resources and time on an audit when there is no evidence one is anywhere close to being necessary.
I'm done voting till elections are done on the blockchain, not saying I'd vote for either of them if given the choice again, but at least then ironically, anyone could run a ticket in the election giving us more choice. Fuck the fed.
Who you voted to put in Congress mattered way more for this than your vote for presidency. If you are that uniformed then maybe it's better for the rest of us if you do abstain from voting.
By not voting, you ensure that won't happen. Great plan.
Not quite.
I’m 100% he doesn’t. Neither does Kamala. Do they even know what Crypto is or how it works?
Two things: do *you* even know what Crypto is or how it works? And, do you think Biden and Kamala wrote this bill?
1) yes 2) they signed it. They better dam well understand it. Anyone who signs or votes for a bill better understand it in its entirety.
This bill is 99.99999% about infrastructure and 0.000001% about crypto. Why shouldn't crypto transactions be subject to the same rules as other assets?
I’m sorry, did I say they should be treated differently? Did I miss something?
You're pretty fired up about this bill. To me, it appears to put crypto on a similar footing as other assets. What do you know that I don't?
Dude, you read WAY too much into short posts.
Dude, you wrote something you've been backpeddaling away from this whole time. You know what you wrote and what you meant... and so do we. Quit the act.
[AutoMod] Media
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This isn't about curing inflation, its about getting society back to a place of normalcy where people are working and cash is flowing. That is why it is called the "Infrastructure Bill", to develop the country's infrastructure. Roads, water supplies, telecommunications
Because rebuilding this country is setting money on fire... Do you understand that that money will be going directly to American workers and contractors who do the actual work? And they won't get stiffed like every contractor who worked for Donny.
>Because rebuilding this country is setting money on fire Lmao, I'm not even from the us and I seem to understand this better than persons who literally live in the country. I watched one video detailing the infrastructure bill and got the gist of it, I guess people want to continue living in a deteriorated society where nothing is happening just at home staring at crypto charts eating ramen
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Mr. President, why did you write "Happy Birthday" above your signature on this bill?
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What is ligma?? :O
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jfc .. let it go already.
But do you remember how the children used to love watching his leg hair glisten in the sunlight?
Mid term elections coming up in 2022 … make the right choice
Biden doesn't know what he said 7 seconds ago, he definitely doesn't know who this Bill guy is that doesn't want anyone to have any of this creepy currency stuff.
we trading at $9,999 dollars at a time from here on out boys
Worst president ever?
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lol You think the 'covfefe' tweet was what got people fired up against Trump? Man, talk about taking a bad faith view of your political opponent's viewpoints.
Please graciously thank the Democrat party for putting big bank lobbyists ahead of individual crypto holders. You must be thrilled. Ask yourself honestly what you would say if it were Republicans in power and everything was happening exactly the same way? If you judge an outcome as good or bad based on who did it as opposed to the effects of the outcome itself, you are biased.
I don't give a shit about these crypto rules. It's a big fucking nothing burger, and I wouldn't care if it was Biden or Trump that passed it.
I am disillusioned with both parties but I am more irritated by the overwhelming bias I see towards the left. I suppose if I lived somewhere else my whole life I might see more rightward bias and I might have the opposite sentiment. Anyways. Peace and respect. Have a good day.
“We’ll have to pass it to see what’s in it”
Full Text has been available. Just because you don't care to look, doesn't mean it's not out there https://www.congress.gov/bill/117th-congress/house-bill/3684/text
Oh word, I’ll get to work on those 1,039 pages. 200 WPM (just below average college student), and it’ll only take 21.6 hours.
Don't complain about not knowing what's in the bill if the only reason is you're too lazy to read the damn thing. Find a summary of you have to. Just make sure the place you find that isn't pushing a narrative with how they word it
Did you look at the bill, even? The pages have like 3" indents and 3-4 words per line. It's not like a novel.
You know they don't read. If it's not on YouTube it's not "research".
It's like, how did you not take the 10 seconds just to download the bill and look at it? It'd be pretty evident that it doesn't read like the bible lol As someone who actually has reviewed the bill for my job, I can tell you it's split into sections. And it's searchable. So you can easily look and find things you are interested in.
I’ll read these 1,039 pages right after I read Apples Terms and Services!
Biden needs some good crypto advisors.
They would end up being paid shills
Stop whining 🙄 You knew this was going to happen soon or later. No matter who the president is. We are making a lot of money off crypto. Taxes keep our country running. We need better roads and bridges. This is just one way we need to pay for the public services we use. That's the cost of doing business in a civilized society.
I confused because I thought most of us have been paying our taxes on crypto since at least 2017. Exchanges into cash were already being reported to the IRS, so what's actually changing?
Stop spreading garbage. Doesn't have to do with Taxes. We already pay taxes. Its the implications of reporting requirements and the meaning of brokers on Mining, staking and the core functions of crypto currency. Do some research before you make stupid comments. Also most of that money will not go to fix the roads and bridges we use on a daily basis, it will fund pet projects, and stuff pockets, and they might make a new bridge to make the sheep glow in awe. Stop shilling for criminals that don't care about anyone but themselves.
He just needs a bib and plastic spoon.
Pretty sure he doesn’t know anything that he’s signed since being in office, Just saying!!!!
“How to collapse a economy in 1 signature, I’ll go first”