Clarity Act flopping is the final nail in the coffin. It's over
Are you retardedThats bullish for LINK
the banks have ripped the bill apartthere will be zero interest in defi with no yield. at this point crypto is just tradfi 2.0 and even if this version passes, which is still an if, link token will barely move, same as all the other dead past cycle altcoinsthe last remaining boyscouts will finally realize they've been had. if only someone could've warned you
>>62025885>Thats bullish for LINKexplain in your own words why that is i've been trying to tell you people, no bank will ever hold link
>>62025894>if only someone could've warned youyou've been trying to for the last 6 years, but im just not gonna sell
>>62025913>cardano hodler refuses to fall for le fud, all of plebbit upvotesdamn you owned everyone by losing money
>>62025894isn't it just stablecoin yield. not protocol yield or whatever, all of that is exempted afaikrewards for active behaviour is allowed, but no idea what that would look like. I still see it bullish for link especially because they positioned so strongly on the banking and institutional side
seriously outside of a retarded spec pump there's really no avenue for funding token appreciation banks won't hold link so that's out, and any ccip transactions they do will be private offchain as they are currently, which clearly have no upwards pressure on the tokenso then your only hope is that 10% surcharge bullshit and the "reserve" which is even more bullshit and the 10% that will probably be negotiated away for big players. what happens when a jp morgan says fuck that you need to waive it for us. cl team isn't going to turn them away so you payment in usd followed by the bs "conversion" but then that link is immediately sold off by nodesall net zero buying pressure
>>62025952i havent gone through the entire thing in detail but yeah passive stablecoin yield is explicitly forbidden while active appears okdefi is largely undecided on this bill with trump's popularity continuing to nosedive i expect it get worse, and as i've said before, if it isn't passed soon, you can kiss 26 goodbye as the political focus shifts to midterm elections soon on another note, the name "clarity act" is perfect as it will finally give long time boyscouts the clarity they've been had
>duuuuuuude we're in dc writing le heckin laws!!!grim
>7 peels by this ID
im still in disbelief that link got classified as a commodity (when its clearly a security)
>>62025949>losing moneybelieve whatever helps you sleep at night
sigh. for all of you reading this who aren't obsessed with just fudding LINK, here's a counter-take:demand for the network is all that matters. currently, full-blown staking is still MIA and demand is extremely low compared to what CLL planned the network to function with, both of which translate into a low token cost because there aren't enough assets moving cross-chain to really have the supply/demand dynamics kick in. part of the hype surrounding the Clarity Act was that it could create a real incentive to hold/use/transact-business-in stablecoins which would make it extremely easy to buy tokenized assets, which would incentivize the creation of those tokenized assets, which would incentivize more stablecoin usage, etc etc. if what this literal-who on twitter is saying is true, then there won't be as much incentive to hold stablecoins because the yield would be lower than holding whatever banks hold (dollars, i think? idk, it's all fake and gay). that would suck because it would slow the growth of the on-chain market, but wouldn't actually be the death-knell this thread's peeler is implying. according to his own twitter screenshot, protocol rewards are still legit, and there will be trillions moving cross-chain *eventually*.the bigger the on-chain market, the more LINK benefits. currently CCIP fees are in the thousands of dollars per day. if the on-chain market moves from the tens of billions that it is currently into the trillions (which it will eventually if only for the efficiency gains DLT has proven to be capable of), CCIP revenue should move up proportionally to hundreds of thousands of dollars per day. assuming full-blown staking is released (yeah, i know i know), the combination of an on-chain market that rivals trad-fi with locked-up collateral should translate into, yes, $1kEOY.
>>62026181anon, the stablecoin thing is just the tip of the iceberg. banks HATE defi. they want to destroy it. in this bill are multiple provisions demanding that smart contracts must register with the government, and the bill also lays the groundwork for requiring KYC for ANY interaction with a smart contract. in short, they want to make every aspect of crypto permissioned. this will completely kill defi. and they're going after stablecoin yield too, because this will kill cexes attempt to become neobanks. they do not want defi, and by extension crypto, to succeed, and they want to codify its death into law with this bill. and they don't care if this bill fails, because they will simply gaslight and say "we guess crypto just isn't mature enough to participate in the financial system :^)" and a new bill will never be brought to the table. the current situation is much worse than people realize
>>62025880>>62025913>>62026181It's over bros, our Chainlink journey ends here. The Great Reset timeline has come at a crossroad with humanity. The magic is gone, the memes are stale, the shills have been uncovered, the agendas laid bare for all to see, i-i-it's over marines...only tears from here.
>>62026130oh did you short link? nice
>>62026120link and eth both, did ICOs and everything>>62026250post yfw banks agree to use cripple just because they hate defi enough kek
>>62026120lol same way xrp got classified as commodity and all those others on the list.They have someone in the whitehouse that said the correct words and put down the correct amount of money.
Thanks for keeping us up to date, Adem.
>>62026298>post yfw banks agree to use cripple just because they hate defi enough kekclown world making a bunch of reddit collecting funkopop wowzers "they'll all use xrp because ummm they just will ok?" would be the most insane timeline shift
>To stay legal, DeFi yields must be "activity-based." This means rewards must be tied to specific actions, such as providing liquidity to a pool, participating in governance voting, or validating transactions. Purely "passive" rewards are now legally restricted to prevent crypto from competing directly with bank savings accounts
>>62026494Its only "yield" if its paid in dollars or other fiat currency. This is just nonsense.
>>62026520semantics, they put out a law and its on the crypto companies now to find ways to exploit it
>>62026531So I guess calling it the "clarity" act is just a humiliation ritual
I'm so crazy for you excited chuddie kiddos
>>62026520>>62026563Lol don't care, I'll be fine staking my link
>>62025952Yes I'm pretty sure all this negative bullshit is specifically for stablecoins. Chainlink stands to benefit as long as the bill passes in some form or other.
>>62026116yikes
>>62025894Bullish for xrp. Ripple is a bank.
>>62025894too bad for burgers I guess
>>62026039
>>62026250The points here are news to me but not at all surprising. Banks have absolutely nothing on DeFi beyond the customers and the assets. DeFi renders them wholly obsolete. So of course they'll fight tooth and nail for survival. And they're winning. This has me so demoralized despite owning Link, ultimately being a beneficiary of the bill.
>>62025894> which is still an if, link token will barely move, same as all the other dead past cycle altcoinswholeshinnanigans is about stablecoin yield, nothing to do with link staking, link will be the plumbing to the while shenanigans, stablecoin held by banks or by cexes, this whole clarity act is good thing if banks become the sole providers of STABLES yields, because those yields will still happen on chain even if they are "provided" by banks, you are dumb fucking jeet who doesn't understand how all this is playing out, the one blocking the clarity act are the fucking nigger jews who own the CEXES, cexes are and will always be cryptos ennemies, banks are just eating on their turf, and they are getting mad that people won't have to use cexes anymore if banks provide exactly the same services or even more.you're just a nigger, link isn't about crypto anyways, it's about fees recovered from global transactions interbank and interchains and inter bank and chains. the nigger cexes kabaal is losing, not us, we are actually winning with the clarity act wich will bring custody by banks and making link central to tradfi.
>>62027081oh wow another retarded take, no wonder /biz/ since 2019 have brought low iq dumb fucks who wouldn't understand simple concepts like tying shoes.the central think in this whole debacle isn't banks being obsolete, or cexes being right, you fuck (you're not a crypto OG obviously) but a dumb fucking retard jeet who doesn't understand what's at play here.for people like you ( gamblets and degens) you love cexes, because it cust the ETH fees for example, and you have basically more slots in your gambling machine when it's all happening offchain. but let me remind you something, i'm an OG let me speak i'm superior to you.CEXES ARE OUR FUCKING ENNEMIESCEXES are the ennemies of crypto holders.stop thinking those people are fighting for you, they are fighting to keep their monopole that's all there is, the fact that banks want to remove STABLECOIN YIELDS for them is actually a good thing, all this time we made nigger chinbk jews like CZ billionaires because they were profiting from regulatory hole, that's all there is, and those CEXE fucks are just manipulating scamming pieces of shit, who are basically rogue actors in this whole industry, people like me nowadays have to feed fucks like you because the IQ of biz have dropped significantly i'm not even sure you fucks even recognize yourselves in a mirror anymore, it's cringe as hell, i have to fucking wait for 50 fucking seconds and put shapes in holes so i could insult you niggers.keep it in mind crypto has nothing to do wil CEXES, cexes are just leeches, jewish klosher fucking leeches. the fact that banks endorse crypto is good for crypto in general FUCK cexes it legitimizes the whole crypto industry, cexes arn't crypto actors, they are scamming fucks that's all there is, it's not because you gamble your 10 rupees on a cexe that they are good.
>>62027206Anon, I cashed out on peer.xyz today
>>62027206>>62027149good postscexes are somehow even scummier than banks so fuck them, glad they're getting fucked over in the clarity act
>>62027232>>62027247this whole negotiation thing between cexes and banks is making my blood boil, implying that the jewish owners of cexes are the spokespersons, or the people who hold authority on crypto, it's cringe as hell to see CZ or that coinbase bald fuck act like he owns the whole crypto industry, implying they are the ones who decide for everybody, when in reality they just fucking leeches, i can't follow this whole cringe shit, because i can't see those people's faces.this whole thing, isn't about banks being obsolete and the heroes of cexes billionaires are gonna save crypto. WE DONT NEED SAVING FFS, we made ourselves, and we are an alternative to banks, literally, just go see in countries who are in a war or any 3rd world countries, even in dubai...people are selling ral estate foir crypto, so they cant be fucked by banks.cexes don't follow any rule, they are jew scams, and manipulating fucks, i had very big issues with the cexes, when i cashed out, banks were more accepting of my cash than the cexes, the cexes are the ones that will fuck you over when youcashout, because many of those platforms don't have the liquidity, and when they see cash getting out, they flip the shit out, sure pajeets can withdraw 10 bucks from cexes, but try 6 to 7 figures you will see how those jews will shrink back into the little balls of scamming fucks they are.the fact that banks are in the game right now, is just gonna cutoff their buisness, why would i ever go through a scamming cex that will literally try to jew me by liquidating my position, scam wiking my positions or just block my money for no reason, when i could go through banks who follow the rules and where my crypto will be safer?they know this, they will lose, people will stop giving money to these scammin cex jews, and it's a good thing
>>62027329Anon, DeFi =/= Central Exchanges.WHY DO I HAVE TO SPELL THIS OUT FOR YOU?
>>62027375And now that I said this: read >>62027081>>62026250both over.
>>62027378>Banks have absolutely nothing on DeFi beyond the customers and the assetsstfu you fucking nigger, banks have EVERYTHING, trillions of $ transit over their networks you're just a nigger and have no idea what you're talking about>DeFi renders them wholly obsoletewrong, it's the other way around, banks could have destroyed all of defi simply by refusing the money that comes off of defi, the only thing you'd be able to do if banks didn't allow it is buy coffee with your bitcoins>So of course they'll fight tooth and nail for survivalwhat the fuck are you even talking about about you fucking retard, the total marketcap of crypto is smaller than some of the banks AUM, they are not threatened by crypto AT ALL, in fact it improves on their current systems which 80% run on cobol, they need the tech to become more modern that's all there is, nothing prevents them from embracing dtl tech without having to rely on defi, the fact that are willing to coop with asset management firms to tokenize assets is just an openness they are showing, they arn't threatened you fucking retard.>DeFi =/= Central Exchanges.what the fuck are you talking about you fucking jeet, the two arn't comparable you fucking retard, central exchanges are just exchanges, defi is decentralized finance, the fact that you think i confuse the two makes me want to slap the shit out of your jeet face, why am i even answering to someone with a iq lower than a bonobo
acts are just little plays the prostitutes in government put on the for tax paying cattle slavesdon't really give a fuck what happens
for the*
>>62025976>seriouslykek fuddie
>>62026039Listen no one cares about your effeminate brownoid rants about link after you lost everything on wormhole and linksolJust explain what it means to "peel back" the layers of your "porn identity." How do Bram and Edem feel about their family member being an actual faggot who sits in a twitter goonchat all day with other sissies?
>>62028158honestly the naming lore of this is oddly biblical and has me questioning the validity of it
>>62028242>biblicalHe's a middle eastern cockroach leeching off of NL along with the rest of his filthy parasite family, nothing biblical about them
Nine years of hodling just to get cucked to death
>>62027149>>62027206>>62027329Thanks for spoon feeding posts
>>62027917>stfu you fucking nigger, banks have EVERYTHING, trillions of $ transit over their networks you're just a nigger and have no idea what you're talking aboutWhat do you think > beyond the customers and the assetsmeans? They have the assets, they have the customers, equating to billions and trillions or whatever being processed. WE KNOW. However, the actual logic, the reliability, and the efficiency, everything is better through smart contracts.>wrong, it's the other way around, banks could have destroyed all of defi simply by refusing the money that comes off of defiThey literally CANNOT stop DeFi. Why would they want it to exist in the first place? Smart contracts replace the middleman and THEY ARE THE MIDDLE MAN. They know DeFi does what they do more reliably and better. And whatever DeFi doesn't do right now better than them (which is just custody at this point), tech will progress and catch up and surpass them.>>62027917>what the fuck are you talking about you fucking jeetNotice how you immediately jumped on thinking I was talking about Central exchanges in the conversation here >62027081 but not once did you speak on this: >62026250>in this bill are multiple provisions demanding that smart contracts must register with the government, and the bill also lays the groundwork for requiring KYC for ANY interaction with a smart contract.Which is 100000x more damning and industry crippling than lolgives a shit CEXes. This is why I mentioned I just used Peer to cash out, which IS NOT a CEX. You didn't recognize it. All of which says to me that you're just a piece putrid shit midwit who has never deployed a smart contract before who needs to sit down and shut the fuck up.
>>62027917>>62027329anon, I hate CEXes too, but banks are not your friend, this is grade A cope. CEXes are not "spokespeople for crypto", they are just the only people getting airtime because this industry is fucking dead. What this bill *should* do is enshrine DeFi as a concept, instead of opening the door to permissioning every aspect of the blockchain. We are heading for a future where "blockchain" just exists as a settlement layer for tradfi, and things like self custody, sovereignty, control over your own money become things of the past. Where every user must ask permission to perform a swap. And eventually, where users must ask permission to perform any transaction at all, or even run nodes.
>>62028675how is any of that enforced lmaopost the exact provisions and languageI find that all very hard to believe
>>62028732 I'm looking at the bill again and I feel less doomy about it. Obviously there is some permissioning in there. But there are also many exemptions for searchers, front end maintainers, oracles, node operators, and so on, specific carveouts saying that blockchain operators are not money transmitters, also specifically making illegal smart contracts that are solely intended for fraud, and of course, requiring digital commodity exchanges (i.e. CEXes) to register and not engage in fraud and market manipulation. So there is probably more good than bad in here
