Disagree with the take on climate spending. Your advice to judge actions not words is great when applied to normies, but it breaks down when applied to an incompetent or corrupt government.
By that reasoning, government spending and money printing isn’t a real issue, since their actions = continue to spend and print more money.
Much more likely that it’s a “rules for thee not for me” situation mixed with never letting a crisis go to waste. Either way, agree that the money for green initiatives will be probably lead to waste and fraud, like all gov spending.
Agreed. But saying climate change isn’t a problem because the gov isn’t adopting nuclear is like saying inflation isn’t a problem because the gov isn’t adopting Bitcoin.
Don't know to be honest, you should never accept funds form Tcash. All those addresses/coins are tainted. This is why everyone held DAI instead of USDC/USDT in Tornado since the people knew USDC/USDT could be bricked
Assume all funds that ever touched Tornado are unusable if a US citizen. Probably need to speak to a lawyer about your situation, definitely out of our league
The restrictions of the sanction can't be applied retroactively unless they can specifically tie your transactions to a specific crime. Previously this was done by comparing IP addresses connected at the time when identifiable funds from a crime are deposited and then looking for future withdrawals that line up with identical IP addresses. This is harder if the deposit withdrawals are smaller and broken up over longer time frames. Obviously using a VPN helps as well.
But if they can tie the IP address to both a deposit and withdrawal associated with crime funds they can then follow the wallet address that withdrew funds and flag it. But if you just used TCash innocently, and before the sanction date, I would presume the wallet is on a list of potential watch wallets for the future and do my best to get funds out in the mid-term.
I'm not sure how you'd do this without creating some sort of electronic trail without the use of a service like Tornado Cash. Exchanges outside of the US generally don't accept US clients, but if you're familiar with making P2P exchanges you could probably do something of the sort to end the electronic trail and then re-buy and send it to a fresh wallet. But I wouldn't rush into something like that if you aren't familiar with it, it's not hard to get scammed on a P2P exchange, especially if you are avoiding the ones with excessive Identification requirements.
But Def. talk to a lawyer. Even if the sanction punishments don't apply retroactively, I would still expect that wallet address to be on a watch list and would do my best to avoid tying it to your ID, SSN, or mailing address in the future while finding ways to deprecate the wallet and move funds to a "clean" wallet.
The IP address thing above is how the authorities eventually caught the $3.6 billion bitfinex hackers from 2016... in 2022. It took them 6 years to identify the IP address of the thieves this way. It's time consuming, but absolutely possible, and for large crimes it's worth it. For small crimes or users not necessarily associated with any specific crime, it's unlikely that they would do this to identify you. Just so you are aware of the difficulty factor involved here from the authorities side.
“If you do this and want to “sell to cash” without swapping your coins you can use the futures market. This may cost a small amount or you might even make a few bucks depending on how you structure it.”
Can you recommend a good breakdown on this for those less familiar with futures?
What is your goal? If your goal is to own crypto btc/eth is fine. If your goal is to "hold stables" either sell to cash or buy btc and use the futures market to get to neutral
Are you at all concerned about the possibility of Ledger’s app having spyware in it? If I’m not mistaken you’re relying on their nodes and infra to process TXs. Are there interoperable anon apps that can be used?
You can always use a Ledger in combination with a wallet like Electrum (for BTC) and Metamask (for ETH) and not rely on Ledger's software to transact at all. The only need for Ledger Live will be to install the respective apps on the hardware wallet.
Eagerly awaiting post on the raid of a former president...
No point honestly no money to be made on that one
Disagree with the take on climate spending. Your advice to judge actions not words is great when applied to normies, but it breaks down when applied to an incompetent or corrupt government.
By that reasoning, government spending and money printing isn’t a real issue, since their actions = continue to spend and print more money.
Much more likely that it’s a “rules for thee not for me” situation mixed with never letting a crisis go to waste. Either way, agree that the money for green initiatives will be probably lead to waste and fraud, like all gov spending.
Climate spending, from a scientific perspective, is a waste. If you dig at the actual engineering/tech, nuclear is the only answer.
Agreed. But saying climate change isn’t a problem because the gov isn’t adopting nuclear is like saying inflation isn’t a problem because the gov isn’t adopting Bitcoin.
What to do with eth addresses that received funds from Tcash? Can we use exchanges located outside US?
Don't know to be honest, you should never accept funds form Tcash. All those addresses/coins are tainted. This is why everyone held DAI instead of USDC/USDT in Tornado since the people knew USDC/USDT could be bricked
Assume all funds that ever touched Tornado are unusable if a US citizen. Probably need to speak to a lawyer about your situation, definitely out of our league
The restrictions of the sanction can't be applied retroactively unless they can specifically tie your transactions to a specific crime. Previously this was done by comparing IP addresses connected at the time when identifiable funds from a crime are deposited and then looking for future withdrawals that line up with identical IP addresses. This is harder if the deposit withdrawals are smaller and broken up over longer time frames. Obviously using a VPN helps as well.
But if they can tie the IP address to both a deposit and withdrawal associated with crime funds they can then follow the wallet address that withdrew funds and flag it. But if you just used TCash innocently, and before the sanction date, I would presume the wallet is on a list of potential watch wallets for the future and do my best to get funds out in the mid-term.
I'm not sure how you'd do this without creating some sort of electronic trail without the use of a service like Tornado Cash. Exchanges outside of the US generally don't accept US clients, but if you're familiar with making P2P exchanges you could probably do something of the sort to end the electronic trail and then re-buy and send it to a fresh wallet. But I wouldn't rush into something like that if you aren't familiar with it, it's not hard to get scammed on a P2P exchange, especially if you are avoiding the ones with excessive Identification requirements.
But Def. talk to a lawyer. Even if the sanction punishments don't apply retroactively, I would still expect that wallet address to be on a watch list and would do my best to avoid tying it to your ID, SSN, or mailing address in the future while finding ways to deprecate the wallet and move funds to a "clean" wallet.
The IP address thing above is how the authorities eventually caught the $3.6 billion bitfinex hackers from 2016... in 2022. It took them 6 years to identify the IP address of the thieves this way. It's time consuming, but absolutely possible, and for large crimes it's worth it. For small crimes or users not necessarily associated with any specific crime, it's unlikely that they would do this to identify you. Just so you are aware of the difficulty factor involved here from the authorities side.
Can you post a guide on how to sell without selling using derivative?
“If you do this and want to “sell to cash” without swapping your coins you can use the futures market. This may cost a small amount or you might even make a few bucks depending on how you structure it.”
Can you recommend a good breakdown on this for those less familiar with futures?
https://defieducation.substack.com/p/perpetual-swaps-intro-to-derivatives
So if holding <$10k worth of USDC on a ledger best to just buy ETH/BTC? (I have been waiting for dip) or swap for USD via futures?
What is your goal? If your goal is to own crypto btc/eth is fine. If your goal is to "hold stables" either sell to cash or buy btc and use the futures market to get to neutral
Will 83(b) elections be affected with the new carried interest tax?
Honestly no clue on what 83(b) is
MetaMask isn’t part of that group right? That’s where I buy/keep all my BTC/ETH
Metamask is a hot wallet so you should still have a hardware wallet for large amounts.
Metamask should only be used for small amounts you're willing to lose in a hack/someone gets into your computer
Are you at all concerned about the possibility of Ledger’s app having spyware in it? If I’m not mistaken you’re relying on their nodes and infra to process TXs. Are there interoperable anon apps that can be used?
You can always use a Ledger in combination with a wallet like Electrum (for BTC) and Metamask (for ETH) and not rely on Ledger's software to transact at all. The only need for Ledger Live will be to install the respective apps on the hardware wallet.
Thanks. I’ll look into getting a ledger