Will the GENIUS act allow us to finally be free of the effects of Operation Chokepoint and stop Visa and Mastercard from censoring muh gaymes and muh porn?

I'm 27 years old. I don't play games.
https://m.youtube.com/watch?v=NVtuWqHpsLU

>>60649668
What do those 2 unrelated statements have to do with the thread topic?

>>60649690
Because you're worried about not being a able to buy/play games and buy(?) porn on a board centred around making money

>>60649721
This is the crypto shitcoin board, not the making money board. None of you people have more than 1000 dollars to your name and you're all financially illiterate.

>>60649724
>None of you people have more than 1000 dollars to your name
Nigger, this is the board where Chainlink sprung up and grew its wings. Where the fuck do you think you are?

>>60649724
I have 7.2 million dollars in crypto but work 5am-330pm 6 days a week as a forklift operator supporting my wife and two sons.
Nobody but this place knows this about me.
I am also all in on chainlink

>>60649724
See? >>60649751

>>60649663 (OP)
steam has low quality porn anyway, buy from DLsite

>>60649757
DLsite was also forced to pull things and rename tags by Visa and Mastercard

>>60649736
>>60649751
>link

>>60649762
they will force censorship anyway under the pretext of saving the children, a better solution for the publishers would be to just launch the NSFW patch separately and mark the game as safe

>>60649779
that's also not allowed currently
they need to stop trying to wiggle out of it and just destroy the visa mastercard monopoly

>>60649663 (OP)
>Buying games
You know those were supposed to be digital toys for children and you want to buy a porn version?

>>60649757
When did steam get into the porn industry? What is dlsite?

>>60649828
>When did steam get into the porn industry?
since always i guess, you have to enable the adult content in the settings if im not mistaken

>>60649663 (OP)
Yes. The reason banks and businesses were holding off on making their stablecoins public is because there was no clarity at the time for what a proper stablecoin looks like, so nobody wanted to make one and be wrong then get sued out the ass. Now that we have an actual guideline for what a fiat backed stablecoin looks like, expect in the next 6 months to see dozens maybe even hundreds of stablecoins touch the market from the biggest players. What do these guidelines say? That all stablecoins must have a proof of reserve. Pool's closed.

>>60649874
But does the act allow the sort of half-assed censorship card networks are doing? I assume since it's blockchain based transactions cannot be blocked

>>60649903
Not sure. But there will be so many stablecoins touching the market that you will be able to pick your preference. The competition alone will make it so they cater to what users want. It's up to us to not pick lame shit.

>>60649922
I'm worried if visa starts routing the stablecoins through their network too, it's simpler to accept a single point of conversion than support multiple coins

>>60649931
Technically yes supporting one is easier than supporting multiple, but when these multiple coins are all using the same set of guidelines laid out by the genius act then they can just route those coins as well since they use the same set of standards. The upside is worth it in this scenario because they don't know which stablecoin will be still around 5 years from now, so it's better to accept all of them (assuming legal clarity)

>>60649957
coinbase or some other crypto exchange should setup a system before the old guard does
this is a very good chance to neuter tradfi

>>60649663 (OP)
Excellent question. Would another provider eg a small bank require new payment/card reader handsets to be on the market or could they be updated to support the new card/payment type from this new bank?

>>60649663 (OP)
No, but xmr will eventually (and maybe wow along with it)
Its going to become the currency of the breakaway sub-society; more than just drugs

>>60649992
XMR is great but it will probably never get allowed in mainstream stores because it's TOO good at protecting privacy
I'm talking about mainstream purchases

>>60649787
Ripple/XRP are doing this already. The bank stuff was always high level fud.
The value of the ledger comes from VOLUME OF TX, not the amount of money running through it.
It's made to replace these old guard payment processors.
As soon as Ripple's banking license comes through they'll launch banking settlement services at a fraction of what BoA and their partners Visa/MC do right now.
I see over a million online each year and still pony up 2.7%. We're being robbed blind on every tx that ever happens.
It's not about the censorship. It's about a 3% grift off the top of everything that happens.

>>60650117
no it's literally about the censorship, I couldn't care less about some piddling 3% if they did their jobs
preventing me from spending money at all is equivalent to a 100% tax

>>60650125
But the fact that they'll have competition is what will keep them from doing this retard.
They can only get away with it when no other options exist.

>>60649967
>this is a very good chance to neuter tradfi
they realized that which is why they are adopting defi qualities. they aren't going full defi cypherpunk level fully anonymous but they realized people don't like the current system and won't just use a carbon copy of that on chain. this means they will have to change and cater to us

>>60650130
or they can just join the card network cartel with a new coat of paint

>>60649751
Did you claim the sxt airdrop with vpn?

>>60649874
>>60649922
>hundreds of stablecoins
you really think so? I'd think most corps would be more interested in dealing with established issuers like Circle.

>>60650197
No. I am stupidly not even staked.

>>60650173
Anyone can use the ledger.
Maybe you could be right eventually. But you don't get everyone on there by doing it first.

>>60650202
I personally think each bank will have it's own stablecoin because they will be able to audit their own coin. I also think banks and companies saw the success of tether and realized having a stablecoin is a good business model. I can't imagine a world where just usdt and usdc are the main stablecoins when they make the money they do. Other players will want a piece of that pie imo.

>>60650388
yes, there are already banks talking about their own stablecoins

>>60649736
>Nigger, this is the board where Chainlink sprung up and grew its wings.
that's precisely why nobody here has over $1000

The year is 2030 -

>link staking 1.0 has been released, although build rewards are still "coming soon" for US users. "We are still recovering from Gary Gensler's operation chokepoint in 2022"

>rory's update on discord: hey guys, thanks for your patience, we're finalizing a few final items and then hoping to release preliminary build for select users by q1 '2031 at the latest

>a marine asks if the build rewards have been accruing for stakers this whole time...he's immediately kicked and banned

>rory then reposts the website faq reminding community members they will be sued by chainlink labs for negative comments

>linkdrake chimes in on how it's ridiculous people expect a return in under 15 years of holding something

>link price: $9, market cap at all time high

>buying games 2025
>>>porn games
>>>consuming porn in general
All the porn is AI garbage now and video games haven't been good in years. Modern video games and the porn shitted out nowadays are just distractions for people without money ex. everyone on this website, especially on /v/

>>60649663 (OP)
no that shit is sick degeneracy and finance will always be ran by genuine conservatives that will swiftly kick out the pervs

>>60651672
I know that tourists like you are dumb and have the intelligence of slugs, but how is Operation Chokepoint, an illegal government operation to suppress legal industries like firearms and initiated by Obama and continued by Biden to target crypto, have anything to do with "conservatives" or "pervs"? Are you underaged?

>>60649663 (OP)
>playing videogames
I’ll get addicted to civ 5 for a week or two per year but other than that I don’t play them
Only losers spend significant time on them

>>60651723
Ok but this is about debanking and financial censorship by tradfi, why are you tards so obsessed with saying "oh I'm a big boy I don't play videogames teehee"? Nobody cares you were bullied as a kid, do you have any opinions on how stablecoins will develop?

>>60651718
yeah but they are democratically elected so people don't want those filthy disgusting pervs all over the place

>>60651745
biz has truly fallen after all the refugee waves

>>60651752
yeah no longer are all rich people perverted predator uncles like all those old rich men turn out to be one after another

>>60649663 (OP)
>he doesn't realize that Visa was part of the GENIUS act lobby.

Top signal

>>60651778
VISA obviously wants to use stablecoins under their existing systems, but there's a very strong possibility of competition that traditional card networks no longer have
You don't need VISA to settle tether transactions

>>60649663 (OP)
No. If you think a law is going to help you over them you might be retarded and need to seek medical help.

>>60651785
>tether
Won't exist for much longer given that they are printing money out of thin air and refuse to prove they are now.This regulatory act now allows tether to get strangled as there is no way they are going to pass their reserve audit. Anyone still holding any sort of crypto right now is in for a very rude awakening.

>>60651739
>gaymer cope
That’s a yikes from me

>>60651810
You're missing the point, I don't care if it's called tether or mether or shitfartcoin or stinklink
This stablecoin legislation should allow blockchain settlement for transactions and totally bypass the existing merchant infrastructure setup by VISA and Mastercard

>>60651809
Thank you for your high quality contribution to the thread

>>60651824
>should allow blockchain settlement for transactions and totally bypass the existing merchant infrastructure setup by VISA and Mastercard
The legislation requires entities to be supervised by regulatory bodies such as the OCC. It also further requires entities to be bank subsidiaries or federally chartered nonbanks. The only thing this legislation did was further entrench pre-existing legacy financial companies and cut off any further competition.

>>60651842
But multiple cryptos have already applied for bank status and banks that only deal with stablecoins will definitely pop up. These banks won't be using VISA.

>>60651890
>multiple cryptos
I think you're conflating exchanges with cryptos. I highly suggest you do some additional research

>>60651890
Here's some light spoonfeeding for you, just a quick question to think about.
>if banks like JPMorgan can now issue stablecoins under GENIUS, why use Coinbase when Visa or bank apps offer seamless integration? Why switch from BoA, Charles Schwab or any other legacy bank to a random digital exchange in San Francisco?