Author Topic: Bitcoin and Altcoins  (Read 2960 times)

eddieb

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Bitcoin and Altcoins
« on: September 23, 2019, 09:58:37 PM »
Just under 2 years ago, Dec 2017, I posted on another  forum this;
“...crypto currencies have exploded through 2017. Are prices set to fall drastically...or can growth continue throughout 2018 and beyond?”

Bitcoins stood at $19,343

Been a bit of a rollercoaster since then, anyone ridden it?
Disclaimer. Posts are just my thoughts,  not recommendations.  Do your own due diligence before trading

Kaitsu

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Re: Bitcoin and Altcoins
« Reply #1 on: October 02, 2019, 03:21:48 PM »
This was an interesting comment on Reuters today:

ST. LOUIS (Reuters) - It is “inevitable” that central banks including the U.S. Federal Reserve will start issuing digital currency, Philadelphia Federal Reserve bank president Patrick Harker said on Wednesday, while cautioning that the U.S. should not be the nation to lead such a move.

“Frankly I don’t think we should be the first mover as a nation to do this,” Harker said at a community banking conference here. But he added: “It is inevitable ... I think it is better for us to start getting our hands around it.”
Ships are safe in harbour - but that is not what ships are for......

eddieb

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Re: Bitcoin and Altcoins
« Reply #2 on: October 02, 2019, 05:09:45 PM »
It is interesting.  Slightly surprised that the US wouldn't want to take the lead on it.
Might Pres Xi see it as an opportunity for China to gain first mover advantage?  Certainly in other areas of finance China are embracing technology more comfortably than I would have expected.
Disclaimer. Posts are just my thoughts,  not recommendations.  Do your own due diligence before trading

Kaitsu

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Re: Bitcoin and Altcoins
« Reply #3 on: October 03, 2019, 08:26:36 AM »
It is interesting.  Slightly surprised that the US wouldn't want to take the lead on it.
Might Pres Xi see it as an opportunity for China to gain first mover advantage?  Certainly in other areas of finance China are embracing technology more comfortably than I would have expected.
A quick look at Googled "Central Banks and cryptocurrencies" seems to suggest there have already been many studies of this issue. I don't claim to have any idea about this but a quick glance seems to suggest one issue is what would central banks use it for that normal currencies cannot already achieve. Regulation is one serious aspect, but finding uses for it in monetary policy is yet another.

I do not know anything much about cryptocurrencies, but this is an interesting aspect to follow, I think, and does seem to follow the general trend of things towards digital alternatives.
Ships are safe in harbour - but that is not what ships are for......

Magyar

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Re: Bitcoin and Altcoins
« Reply #4 on: October 03, 2019, 09:20:08 AM »
Central governments and banks will have to find a way to make use of it, and a number are looking at this.
They probably feel they need to do something if only to counter the criminal element and tax-avoiders currently using unregulated cryptos, as well as offer more support to innocents who want to invest/speculate in them.

eddieb

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Re: Bitcoin and Altcoins
« Reply #5 on: October 07, 2019, 07:03:12 PM »
Big jump (almost 6%) today for Bitcoin. Still on its roller coaster ride, definitely not for the faint-hearted
Disclaimer. Posts are just my thoughts,  not recommendations.  Do your own due diligence before trading

Caesar

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Caesar

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Re: Bitcoin and Altcoins
« Reply #7 on: October 20, 2019, 06:48:34 PM »
Bitcoin continues to struggle to break the $8000 resistance. With a descending trend line and SMA's suggesting price could go lower,  now may not be the best time to be going long.
« Last Edit: October 20, 2019, 06:52:13 PM by Caeser »
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Magyar

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Re: Bitcoin and Altcoins
« Reply #8 on: October 21, 2019, 09:47:11 PM »
I just donot understand why so many peoples like bitcoin? It has no real value and no proper regulaton. I donot think I could risk my own money in this

Caesar

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Re: Bitcoin and Altcoins
« Reply #9 on: October 22, 2019, 09:50:53 PM »
Bitcoin struggling to get out of the 7700-8100 zone, with fall more likely than a rise looking at the hourly charts
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Caesar

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Re: Bitcoin and Altcoins
« Reply #10 on: October 24, 2019, 08:07:47 AM »
Bitcoin is down around 8% this week and some analysts are expecting further falls to around the $7100 level.
Even the pro-Bitcoin websites are finding it difficult to be bullish right now.
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Caesar

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Re: Bitcoin and Altcoins
« Reply #11 on: October 24, 2019, 10:10:05 PM »
Bitcoin Price Approaching Dangerous Levels ( CNN)
Although bitcoin’s most vocal supporters are unfazed by the recent pullback, the king of cryptocurrencies is approaching a critical inflection point that could trigger a deeper nosedive in price. At least one closely-followed trader is calling for a steeper correction back down to the $6,250 region – a move that would wipe out another 17% from current levels.

One doesn’t have to look very far to know where the dangers are, as even the most basic technical setup reveals the possibility of another violent selloff. At any moment now, bitcoin’s 50-day moving average is about to cross below the 200-day moving average. The so-called “death cross” is an overwhelmingly bearish indicator for everyone except long-term holders of the virtual currency.
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Caesar

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Re: Bitcoin and Altcoins
« Reply #12 on: October 27, 2019, 08:11:50 AM »
Breakthrough for Bitcoin?
There was a strong rise in bitcoin price from above $8,000 and $9,000 against the US Dollar.
The price even spiked above the $10,000 resistance, but it failed to hold gains and declined.
There is a short term bullish trend line forming with support near $9,080 on the 4-hours chart of the BTC/USD pair
The price could bounce back as long as it is trading above the $8,600 and $8,500 support levels.
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Caesar

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Re: Bitcoin and Altcoins
« Reply #13 on: October 27, 2019, 08:13:02 AM »
BEIJING (Reuters) - China's parliament has passed a new law on cryptography as the country gears up to launch its own digital currency, state media reported late on Saturday.

China's central bank set up a research team in 2014 to explore launching its own digital currency to cut the costs of circulating traditional paper money and boost policymakers' control of money supply.

China's proposed new digital currency would bear some similarities to Facebook (NASDAQ:FB) Inc's Libra coin and would be able to be used across major payment platforms such as WeChat and Alipay, a senior central bank official said last month.

China's cryptography law, which takes effect on Jan. 1, is aimed at "facilitating the development of the cryptography business and ensuring the security of cyberspace and information", the official Xinhua news agency said, citing parliament. The law states that the state encourages and supports the research and application of science and technology in cryptography and ensures confidentiality.

Facebook's proposed cryptocurrency has sparked concerns among global regulators that it could quickly become a dominant form of digital payment and a channel for money laundering given the social network's massive cross-border reach.

Libra will be a digital currency backed by a reserve of real-world assets, including bank deposits and short-term government securities, and held by a network of custodians. Its structure is intended to foster trust and stabilize the price.

Like other cryptocurrencies, Libra transactions will be powered and recorded by a blockchain, which is a shared ledger of transactions maintained by a network of computers.

Chinese President Xi Jinping said last week that the country should accelerate the development of blockchain technology as a core for innovation.
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Caesar

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Re: Bitcoin and Altcoins
« Reply #14 on: October 31, 2019, 02:21:18 PM »
Happy birthday Bitcoin!
Its 11 years today since publication of the Bitcoin white paper by the still-unknown person or group only known as Satoshi Nakamoto.
On its eleventh birthday, Bitcoin is priced at $9,110 following a 2.50 percent decrease over the past 24 hours. Not the best birthday present for investors.
I wonder where it will be in another 11 years?
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