Facebook ☛ META
Bitcoin to $135,000 by December, Says PlanB
Provision 6050i of Infrastructure Bill = Felony & Crypto Ban?
Raoul Pal: Video
Twitter Memes of the Week
Facebook ☛ META
After nearly two decades, Facebook is receiving one of the biggest corporate makeovers in history, something that is sure to make the Fab Five jealous. Facebook will now be known as Meta.
Facebook/Meta aims to reflect the future ambitions of the company — products like Oculus, virtual reality, augmented reality, and other Web 3.0 products/services.
The rebranding only applies to the larger parent company; just as Alphabet is to Google, Meta will now be to Facebook.
Make no mistake, the name change is a big deal. Not only does it signal that crypto, NFTs, social tokens, blockchain technology and the Metaverse is here to stay, but it also means that we are on the precipice of major social change. We are about to on-board BILLIONs of people. Like it or hate it, Facebook is a major part of the story of how adoption takes place. You may not like the digital universe they are creating; you may choose not to participate in it, either way, Facebook going Meta is massively validating to this new digital economy. One of the best tweet threads, and there were a lot of them, came from Raoul Pal:
Bitcoin to $135,000 by December, Says PlanB
According to the Nostradamus of Crypto, PlanB believes Bitcoin is headed to new All Time Highs (ATH) this December. PlanB, a former institutional investor with more than 25 years under his belt, has become something of a legend on Twitter with his accurate price predictions of Bitcoin.
For example, he accurately called for a $1 trillion dollar market cap when Bitcoin was priced at sub $4,000; he also accurately predicted Aug $47K, Sep $43K, Oct $61K (all with less than a 3% rounding error). Now, his stock-to-flow model shows that Bitcoin is about to crack the $100,000 ceiling.
Provision 6050i of Infrastructure Bill = Felony & Crypto Ban?
Remember that $1T Infrastructure Bill?
Law Professor, Abe Sutherland, is sounding the alarms of a potentially much more insidious provision tucked inside the bill which could spell disaster for the entire digital asset space.
According to Abe, recipients of digital assets worth $10,000 or more (including NFTs) would be required to verify the sender’s personal info (SSN, DOB, Nature of Transaction, etc.) and then send a report to the US Gov within 15 days. Under the new provision, failure to do so would be a FELONY and could result up to 5 years in prison.
This proposal escaped the attention of the media because it uses an old law from 1984 which was intended" to discourage in-person transactions with large cash. Thirty years ago, $10,000 was worth between $25,000 to $67,000 depending on your inflation metrics. This provision would effectively be a legislative ban on crypto as no person would ever willingly give out their personal information to a stranger, let alone one savvy enough to navigate the crypto-verse.
THE TLDR: Raoul Pal