The “RESTRICT Act” under consideration in Congress is horrible legislation and must not pass.
Gives the President powers to deem just about anything as a threat to National Security and thus illegal under this Act.
It is been sold as a protection from China via apps such as Tick Tock but can be abused to classify Bitcoin users as criminals.
Totalitarianism increases with this bill.
More oddities in the ACH banking space for me this month. Today, I was expecting to see my paycheck from the fiat mine appear in my account. It is not there. Technically tomorrow is payday but for the past 4 years at this job the deposit appears by 3 pm the day before. Not today though.
Banking issues I’ve seen in the last two weeks: my kid’s paycheck was a day later than usual. My transfer to Fold took 2 days longer than usual, and now my paycheck is going to be a day later than usual.
I’m thinking many banks are struggling to function as they traditionally have.
The legacy banking world can’t die fast enough for me. I hate waiting for transfers from my bank account to another. For example, the transfer of $ to my Fold card from AppleCash traditionally has taken 2 business days max, with the majority completing in the same day assuming I initiated it early in the day. I’m currently in an email thread with Fold support asking for help tracking down a missing transfer that was initiated early Friday morning. So far the response has been : “It can take 5 days. We can investigate if it has been more than 5 days”
CashApp sets a high standard that other companies should try to match. I could have zero $ in my CashApp account and tap “Buy $50 Bitcoin”. The buys happens instantly and CashApp collects the $ via my linked bank debit card in a couple days. Fold could do the same for deposits.
Rant over.
Thanks for coming to my Ted Talk
Gave a friend a copy of The Bitcoin Standard when we met for lunch. He was pretty interested. I think the banks are doing some good marketing for Bitcoin this week.
CONTAGION:
Shares of First Republic, a San Francisco-based bank, sank more than 16.5%
Zion Bancorp dropped more than 12%
SPDR S&P regional banking ETF slid 8% after hitting its lowest point since January 2021.
Major U.S. banks were also hit, with Wells Fargo down 6%
JPMorgan Chase & Co down 5.4%,
Bank of America Corp 6% lower
Citigroup Inc 4% lower
I have an automatic daily DCA process.
And I buy the dip when I see one.
Just double stacked. It just happens to be payday at the fiat mine as well.
Sats Sale too good to pass up.
Wallet of Satoshi is one wallet that works great with Zaps here on Damus.
What others are known to work well?
I was unable to get the persistent lnd address for receiving zaps to work with Blue and Muun.