Coinsilium Share Discussion Threads

[powereddrones] 28/9/2021 07:32

I didn't buy the stamps, the wife did as a present. I told her about it a few months ago, and I had forgotten about it. She collects stamps as a small hobby. Yes I can't see the fascination myself! Not fast and furious enough for me. Well if it is good enough for Van Hoogstratten*, then er... anyways.

Also the cost of the NFT is variable:

"Please note that the prices for the NFT counterpart to the Cryptocurrency Stamp will be denominated in cryptocurrency and will be sold separately."

I've got stuff to do today, so I'll update on how it goes.


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*He started his buy to let empire, from his humble stamp collection that he auctioned off. He was a millionaire by 22.

[powereddrones] 27/9/2021 21:15

I received my Gibraltar / Coinsilium stamps in the post whoop! I'll have to get round to claiming the NFT. Pretty cool piece of history.

hxxps://www.gibraltar-stamps.com/index.php?controller=stamps&action=issue&id=742

[botak54] 27/9/2021 08:29

This is what you call ,FORESIGHT
Regulation
Having your offering established in preparation for the New regulatory Crypto Whirlwind to monetize your ventures

[commie bstard] 26/9/2021 15:13

I'm looking at this as an investor pure and simple. I'm not talking philosophically about how you control or put an end to money laundering, control criminal activity or stop tax evasion. Im simply looking which way the wind is blowing as an investor and thinking long and hard about the potential consequences of regulation on DeFi. I'm not thinking about centralised v decentralised. I'm thinking about what types of DeFi will be able to comply with future regulation in order to survive.DeFi that can't fit in with regulation will simply not be allowed to operate in markets where regulators have teeth. The US, UK, Europe and especially autocratic places like Russia China and India. What's left. South America? Africa? Those could be good places to live if you want to avoid regulation.Also a lot of DeFi platforms have built in design features to make them appeal to to people who want to avoid compliance - which is probably the largest part of the cryptosphere right now. The smart contracts are what they rely on to provide the excuse that they are simply offering 'software' for people to use, and they are not actually an exchange. That one wont wash with regulators. They know the walls are closing in and that's why many protocols are turning themselves into 'DAOs' and trying to move themselves away from having any kind of formal accountable legal entity. They might be buying themselves a bit of time but that's probably all.Also it's a misnomer to say DeFi is actually decentralised. The fact is every 'decentralised' protocol (except Bitcoin), is centralised somewhere, there is always some form of 'governance' (even if it's built into a smart contract) a team of developers and a business hierarchy or management that has raised funds from some kind of token sale - that's definitely not decentralisation. You will remember we even saw Ethereum in 2016 had to fork their blockchain after the DAO hack which caused uproar in the community and also the acknowledgement that even Ethereum can no longer be considered as decentralised. Http://www.gemini.com/cryptopedia/the-dao-hack-makerdaoBottom line is I expect so called DeFi to change radically very soon as regulators around the world know they have to do something.

[commie bstard] 26/9/2021 12:40

My take is that operating in Gibraltar jurisdiction they wanted to line up the ducks with Greengage first.

[botak54] 26/9/2021 12:35

That script has always been on the wall, It mystifies me why Coinsilium did not realize or did not undertake enough due diligence on the concept of DeFi, Before * Immediately realized * pursuing DeFi products in the raw form was not a Good idea
The fact that regulation will be introduced and implemented in The Crypto Sphere is not and hss never been in question ,It has to come
Some people made the necessary moves a long time ago,

[commie bstard] 26/9/2021 10:37

Right now I can go and sign up to a DeFi platform, put my money down and trade for ever and never pay the IRS/HMRC a cent/penny and live my entire life in the ether. What kind of example does that set? You've seen the public and media outcry with the tax dodgers exposés like the Panama Papers and even when big brands like Amazon and Starbucks offshore their profits to minimise tax. How can big governments put up with a global class of tech savvy DeFi tax dodgers and degenerates running rife? All the current DeFi offerings are going to be stigmatised and even the protocols will have to accept the unregulated DeFi party is drawing to an end. The only sustainable future will be new regulated products and services. Those that don't comply will simply be criminalised.

[botak54] 25/9/2021 17:40

We should all welcome regulation . For our protection

[commie bstard] 25/9/2021 17:32

Global Regulators are gearing up right now for a major crackdown on all unregulated DeFi type offerings and that's because they see all unregulated activity as an existential threat to the centralised legacy monetary system. Irrespective of what benefits the technology can bring to track and trace money-laundering. And we all know that most of the money laundering is facilitated through the banks and global financial institutions. But that's not the argument and it's not going to prevent the crackdown on an activity that regulators see as out of control. There's also the consumer protection issue because DeFi scams are now off the scale. Where do victims go to complain when they've been scammed? The regulators- even though the market is unregulated, It doesn't stop them complaining when they've become victims of a scam. Https://www.google.co.uk/amp/s/www.techrepublic.com/google-amp/article/dont-get-rugged-defi-scams-go-from-zero-to-129-million-in-a-year-to-become-top-financial-hack/Thats where I'm coming from - The SEC, the FCA, and all the regulators around the world have been watching this unfold for the last few years with little effect. Now we can see the signs they're going to act. You can see it in the language coming of China and US, and everywhere else. The lines have been drawn between those who are looking to operate within regulatory systems and those who are looking to operate on the outside. Bottom line is there is no avoiding regulation. The issue is not going to go away and Investors would do well to recognise which way the wind is blowing.

[commie bstard] 25/9/2021 14:43

Another great article on the subject httpS://www.wsj.com/articles/cryptos-defi-projects-arent-immune-to-regulation-secs-gensler-says-11629365401DeFi projects generally don't have safeguards against money laundering, or "know your customer" measures in which an exchange confirms the identity of traders using the platform. That also could raise red flags for authorities.

[commie bstard] 24/9/2021 10:53

This is why it's so important for DeFi to be able to work in harmony with regulation. Important for investors to recognise which way the wind is blowing. htTPs://apple.news/Ae0VFEyw7SSWlsYOpJDixGQChina Deems All Crypto-Related Transactions Illegal in Crackdown

[botak54] 22/9/2021 16:05

KR1 have just invested near on $4.4 million in Basilisk .KR1 KSM was a free gift for participation in the Polkadot seed funding .the return for contributing those 11.111k ksm will be off the scale .measured in millions of dollars with the first returns rolling in soon .next few months .what are coinsiliums expectations for the recent investments .does anyone have a scooby .if so.please share

[botak54] 22/9/2021 16:04

KR1 have just invested near on $4.4 million in Basilisk .KR1 KSM was a free gift for participation in the Polkadot seed funding .the return for contributing those 11.111k ksm will be off the scale .measured in millions of dollars with the first returns rolling in soon .next few months .what are coinsiliums expectations for the recent investments .does anyone have a scooby .if so.please share

[botak54] 22/9/2021 15:57

So as the people reading these poste.Please clarify just exactly what is Coinsilium involvement in DeFi .what and who have they invested in and what are the forecasted returns to.swell the NAV .we can't establish the net worth to Coinsilium without knowing a forecasted return

[botak54] 22/9/2021 15:39

You can pratoe on and on and on and on .it makes no difference .I've heard it all before and some the last 5 years . Let me see some significant financial mark up then I might conced to a favourable view they are in the right direction . Until then it's just more Hot air .Period ! .

[commie bstard] 22/9/2021 15:18

where did they say they are going to 'hell for leather' to incorporate defi products? I'm not sure what you mean by lack of foresight? If anything I think it shows great foresight predicting all the problems that the current products are having right now. (Coinbase, Celsius, etc) . Everyone knows a regulatory crackdown is coming and the best thing to do is to stay out of the way.As far as I can see they announced DeFi as strategy and that hasn't changed has it? They are now just starting to talk about deploying DeFi in a regulatory compliant way. With RSK behind them (16% shareholders in COIN) I would have thought they are still very embedded in the DeFi space. All they are saying is that the current products are operating in a regulatory 'grey zone' and are not going to survive in mature markets if they aren't able to work within a regulatory on-boarding. It's not a philosophical thing. Personally I can't stand the KYC process mostly it's bullsh*t but I know that in order to operate commercially you need to be compliant with regulation. Besides the fact is that there is not one truly decentralised protocol out there apart from bitcoin. So everything under the sun in DeFi has an element of centralisation. Just to be clear, if you are talking about ATOM/ Cosmos that's a Protocol - not a DeFi product or service. The protocols themselves have their own challenges, but it's the DeFi platforms that are built on these protocols who are in the firing line now.And when you refer to the other regulated digital asset products out there - they are all in the 'securities' arena - not in Staking, loans, yeald- farming etc. None of those are regulated at all.