Bitcoins and Security clearance!


#1

I was reading https://news.clearancejobs.com/2018/01/29/can-bitcoin-cost-clearance/

and I was wondering how much is too much bitcoins? I recently started to get myself into cryptocurrencies, as I wait for my security clearance. I want my clearance more than anything. I am willing to put aside bitcoin in the name of a clearance and show my allegiance to the US.


#2

An interesting article and I will need some time to absorb it . . . But, the fact that I need some time to think about likely means that the author is right. The government and then the cleared sector will likely look at it with suspicion for a while.

I really don’t see a big difference between this and many other everyday transaction systems. Ebay and Paypal? You MIGHT be buying that sweater or old guitar from terrorists trading to earn money. But, the slight anonymity means that you likely CAN’T know. Craigslist (for merchandise and services, NOT the other stuff!) is pretty much the same. The guy that you found to replace your iPhone screen for $60 could be doing the work to launder money or some other nefarious purpose.

The 7-11? The pizza shop? The laundromat? Cash businesses have been used by criminal organizations for years. Even accountants and tax prep businesses.

Has anybody here owned Apple stock? The value isn’t only affected by U.S. domestic policies but it is affected by foreign policy and our relations with China. If you are heavily invested in Apple, wouldn’t you prefer that China do well?

Personally, I think that cryptocurrency is a huge bubble (that I DO wish I had had the foresight to jump into) that will eventually collapse under its own weight and supposed features. The U.S. dollar is no longer backed by gold and silver but Bitcoin is STILL backed by even less.


#3

7-11 ironically is a Japanese business. Some have suspected that some of the money that is earn goes into the Yakuza. I know that is random but I love Asian Cultures.

I realize Cryptos are a bubble but if you can get in at the bottom floor make some money you are good. Cryptos remind me of the rise and fall of the tulips in Holland in 1620.


#4

What about those who hold crypto via an American exchange. I invest heavily in my companies 401k, and consider crypto coins just another form of investment outside of the 401k.

In total I’ve got maybe 5,000 in USD value in a spectrum of crypto including BitCoin, Ethereum, BitCoin Cash, and LiteCoin. Which was obtained from like a $400 investment last year All of these are stored in an IRS vetted, American based and regulated exchange called CoinBase.

I can’t imagine this being a concern, but would like opinions.

Its a digital asset that the IRS acknowledges and taxes profits on (assuming you sell, which I haven’t).


#5

I use Coinbase as well. I did use Binance until recently. I decided not to have anything from the Hong Kong base company. So Coinbase is fine?


#6

I would imagine so. I can’t imagine the gov severing ties with the pretty much all crypto holders lol, especially if they intend to hire any developers or technical professionals / engineers under the age of 35.


#7

This was posted by DSS yesterday: DSS has fielded a number of questions from industry as to whether ownership of cryptocurrencies, such as Bitcoin, should be reported by cleared persons or clearance applicants. There is no current Department of Defense guidance related to the reporting of ownership of cryptocurrencies. DSS is working with DoD policy offices for further clarification and once such guidance is issued,


#8

Well, I make sure I use coinbase which is a US based company. Thank you for the update.