NotTheNoobs

Cryptocurrencies => Cryptocurrencies => Topic started by: eddieb on September 23, 2019, 09:58:37 PM

Title: Bitcoin and Altcoins
Post by: eddieb 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?
Title: Re: Bitcoin and Altcoins
Post by: Kaitsu 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.”
Title: Re: Bitcoin and Altcoins
Post by: eddieb 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.
Title: Re: Bitcoin and Altcoins
Post by: Kaitsu 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.
Title: Re: Bitcoin and Altcoins
Post by: Magyar 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.
Title: Re: Bitcoin and Altcoins
Post by: eddieb 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
Title: Re: Bitcoin and Altcoins
Post by: Caesar on October 16, 2019, 06:16:06 PM
Crypto's fall after bust-up of paedo website
https://m.investing.com/news/cryptocurrency-news/newsbreak-bitcoin-sinks-after-us-south-korea-bust-child-porn-site-1997153
Title: Re: Bitcoin and Altcoins
Post by: Caesar 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.
(https://editorial.fxstreet.com/miscelaneous/BTC_USD%20(19)-637071651038581141.png)
Title: Re: Bitcoin and Altcoins
Post by: Magyar 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
Title: Re: Bitcoin and Altcoins
Post by: Caesar 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
Title: Re: Bitcoin and Altcoins
Post by: Caesar 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.
Title: Re: Bitcoin and Altcoins
Post by: Caesar 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.
Title: Re: Bitcoin and Altcoins
Post by: Caesar 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.
Title: Re: Bitcoin and Altcoins
Post by: Caesar 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.
Title: Re: Bitcoin and Altcoins
Post by: Caesar 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?
Title: Re: Bitcoin and Altcoins
Post by: Caesar on October 31, 2019, 06:44:04 PM
Chinese authorities have taken action to censor any anti views on Bitcoin and blockchain.
Communications around the criticism, opposing views are now banned by China

The Chinese made the decision to ban anti views towards Bitcoin and blockchain as they look to support the blockchain community and the crypto world, with their recent shift in view.

It has now seen authorities enforcing the criticism, opposition views or casting of aspersions on Bitcoin and blockchain technology.

Chinese President  Xi Jinping recently rocked the crypto industry with a speech exalting blockchain, praising the economic benefits and efficiencies available through the technology.
Title: Re: Bitcoin and Altcoins
Post by: Caesar on October 31, 2019, 09:17:50 PM
Not a great birthday for Bitcoin,  but a very decent week!
Title: Re: Bitcoin and Altcoins
Post by: Caesar on November 01, 2019, 09:18:08 PM
And on the week it celebrated its 11th birthday,  Bitcoin ends the week well in the green
Title: Re: Bitcoin and Altcoins
Post by: Caesar on November 04, 2019, 05:11:59 PM
Just had a bit of a start, googled Bitcoin and first thing I saw was today's price, 7214. Then realised that was in sterling and not dollars.
Think I need a cup of tea to relax.

Anyhow,  according to CNBC, following studies of them 2017 rise in Bitcoins price  2 finance professors in the US have attributed most of the rise to one individual!

https://www.cnbc.com/2019/11/04/study-single-anonymous-market-manipulator-pushed-bitcoin-to-20000.html
Title: Re: Bitcoin and Altcoins
Post by: Caesar on November 06, 2019, 08:03:34 AM
Bitcoin continuing its recent climb. 10, 000 might be a hard level to break, but with Crypto's you never really know. 
Title: Re: Bitcoin and Altcoins
Post by: Caesar on November 09, 2019, 02:10:17 PM
Supporters of cryptocurrencies, especially Bitcoin,  believe that, as a decentralised currency with millions of owners around the world, the crypto asset has a better long-term outlook because central banks or governments can’t manipulate it. Since only a limited amount of Bitcoins can ever be produced they say this implies its value is much less likely to be eroded by inflation over the long term.

However, Bitcoin has a lot of drawbacks as well. Price of the crypto asset is exceptionally volatile, so you can’t really use it on a day-to-day basis. Imagine leaving home with £20 only to find that when you get to the shop, it’s worth £10.

Transaction costs are quite high, and criminals have targeted owners repeatedly in the past, stealing hundreds of millions of dollars worth of the cryptocurrency.

Bitcoin is only worth as much as other investors are willing to pay for it. That can mean either $20,000 a piece or $1,000.

This year Bitcoin has pulled back some of last years fall, but nowhere near half of it, and it is difficult to put a finger on why it has risen or why it would continue.  My concern ith Bitcoin is that as things currently stand, it is like building a house on a foundation of sand, you just never know when its going to collapse beneath you.



Title: Re: Bitcoin and Altcoins
Post by: Caesar on November 10, 2019, 12:29:32 PM
Bitcoin halving

When it was first devised, bitcoin was programmed with a hard limit of 21 million, with new bitcoins entering the system as an incentive for network processors (“miners”) in a gradual and controlled rhythm. The initial reward rate for mining was 50 bitcoins and rate at which they are created is reduced by half every four years, ostensibly to mimic the increased difficulty of gold mining. On Nov. 28, 2012, this was halved to 25, and since July 9, 2016, miners have been receiving 12.5 bitcoins for each block successfully processed.

The next reduction, after which the network incentives will be 6.25 bitcoins per block, is expected in May 2020.

Previous halvings have triggered bull runs,  and followers of Bitcoin are expecting more of the same next time round, with some suggesting it has already begun. Others argue that it has not only begun, it has ended and that anticipated price growth based on the effect of halving is now priced in. If the 2nd group are right, then the only way is down for Bitcoin since there are no fundamentals to support a rising valuation.

Either way, all of this just further demonstrates the difficulty in judging the value of Bitcoin and determining whether to invest in it or cash in and run.





Title: Re: Bitcoin and Altcoins
Post by: Caesar on November 13, 2019, 05:50:16 PM
Mike McGlone, an analyst with Bloomberg Intelligence, says technical signals suggest the biggest cryptocurrency could face further headwinds ahead.

The trading range between Bitcoin’s 50- and 200-day moving averages has diminished to its narrowest since June, potentially indicating that an inflection point may be on the horizon. Though Bitcoin’s already fallen below its 50-day moving average, a drop below the 200-day could trigger a sell signal.

The most widely-owned-digital asset has erased much of the gains it posted after China’s President Xi Jinping said the country was inclined toward increasing investments of blockchain technology as it searches for industrial advantages. While crypto enthusiasts took that as a positive for Bitcoin, the token has subsequently traded lower, dropping near 5% this month. The Bloomberg Galaxy Crypto Index has lost more than 2% in the same period.

Title: Re: Bitcoin and Altcoins
Post by: Caesar on November 14, 2019, 05:51:43 PM
Cryptoqueen brother admits he played a role
https://www.bbc.co.uk/news/technology-50417908
Title: Re: Bitcoin and Altcoins
Post by: Caesar on November 21, 2019, 10:06:55 AM
Bitcoin has crashed below $8000 for the first time in a month and shows no sign of stopping any time soon.
It slipped below its 200-day moving average line, an event considered a sell signal by many analysts and chartists.
Part of the blame for this has been levied at China,  who announced a few weeks ago that it may start to embrace the blockchain technology that supports cryptocurrencies, and has since taken steps to curb crypto trading.
Watchdogs in Shanghai, for instance, issued notices calling for a cleanup of companies involved in trading of digital assets, while one in Beijing warned against illegal exchange operations.

Bitcoin was down 1.9% as of 9:03 a.m. on Thursday to trade at $7,938 and has dropped about 14% this month, data compiled by Bloomberg show. The Bloomberg Galaxy Crypto Index, which tracks major cryptocurrencies including Bitcoin and Litecoin, has lost 12% in November.
Title: Re: Bitcoin and Altcoins
Post by: eddieb on November 23, 2019, 08:36:15 AM
Bitcoins woes continued yesterday.
After dropping below $8000 earlier this week,  it dipped under $7000 yesterday.
It seems the Shanghai offices of Peoples Bank of China said it would tackle growing cases of illegality involving virtual currencies, following similar comments from their colleagues in Shenzhen
Chinese President Xi Jinping said last month that the world's second-biggest economy should accelerate the development of blockchain technologies,  and it seems that China will develop its own Crypto for this purpose.
Title: Re: Bitcoin and Altcoins
Post by: eddieb on January 26, 2020, 08:38:34 AM
Re-reading an article from November,  so this may not be news to everyone.
The New Zealand gov issued a tax bulletin giving companies permission to legally pay employees using cryptocurrencies 
The only proviso being that the cryptocurrencies used must be convertible to flat currency,  which is typically the case with the major cryptos
Title: Re: Bitcoin and Altcoins
Post by: Caesar on March 12, 2020, 09:05:30 PM
After a decent last few months,  Bitcoin has been hammered today and now sits just under $6000, from a high yesterday of $8000
Title: Re: Bitcoin and Altcoins
Post by: eddieb on March 20, 2020, 11:08:52 AM
After dropping down to the 4000's earlier this week, Bitcoin have had a resurgence, and is closing in on $7,000. And its not alone, Bitcoin is up around 20% over the last 24-hour trading period, while other major tokens, including ethereum, Ripple's XRP, litecoin and bitcoin cash, are up between 15% and 22%.

From what I read, this seems to be being driven by Stablecoin tether, which are tied to the currency they are designed to 'mirror'. Over the last 48-hours some $120 million worth of tether has been minted, though the company behind tether said this was just an "inventory replenish" that had not yet been issued , but Simon Peters of etoro thinks that if the entire $120 million of new tether went into the crypto markets, it "could move prices significantly."

Personally, there is too much here that is out of the hands of the ordinary guy in the street for me to even consider buying into crypto's. If a single, or small number of, people/companies can move the market to the degree we have seen over the past couple of days we should remember that they could just as easily get out and leave us holding huge losses.
Title: Re: Bitcoin and Altcoins
Post by: Kaitsu on March 20, 2020, 02:53:54 PM
I wonder where it will be in another 11 years?
Now that is a good question!  ;D I also wonder where we will be then, too! Will retail trading exist at all any more!

How actively are you trading bitcoin? I have never touched it yet, but I have occasionally looked at the charts provided by my broker for BTCUSD for example, but it hasn't lit the fuse for me yet for some reason - maybe just over-cautious and unfamiliar!
Title: Re: Bitcoin and Altcoins
Post by: Caesar on April 13, 2020, 04:03:31 PM
The amazing story of Dr Ruja, the cryptoqueen
https://www.bbc.co.uk/sounds/play/p07npk7p
Title: Re: Bitcoin and Altcoins
Post by: Caesar on May 25, 2020, 08:09:48 AM
Not wishing to appear negative,  but anyone thinking of getting in cryptos might want to read this article first
https://www.helpnetsecurity.com/2018/02/05/look-inside-cryptocurrency-fraud/
Title: Re: Bitcoin and Altcoins
Post by: Caesar on July 16, 2020, 08:01:09 AM
Major Bitcoin scam hits Twitter
https://www.bbc.co.uk/news/technology-53425822
Title: Re: Bitcoin and Altcoins
Post by: PipMeHappy on July 17, 2020, 07:51:15 PM
Not wishing to appear negative,  but anyone thinking of getting in cryptos might want to read this article first
https://www.helpnetsecurity.com/2018/02/05/look-inside-cryptocurrency-fraud/

Does this mean that staying away from 'altcoins' and sticking to the original flavour (Bitcoin)
is still safer?
Title: Re: Bitcoin and Altcoins
Post by: Caesar on July 18, 2020, 08:06:39 AM
Does this mean that staying away from 'altcoins' and sticking to the original flavour (Bitcoin)
is still safer
Hello Pipmehappy.
I haven't seen anything yet that gives me confidence any cryptocurrency is safe.
It seems every few months some site or other gets hacked and there does not seem to be any recourse which the traders can take since the very thing that attracts many of them, anonymity, means they cannot prove they ever owned the currency.
Hopefully the upcoming government backed cryptos will resolve this
Title: Re: Bitcoin and Altcoins
Post by: Pipstar on September 08, 2020, 10:00:08 PM
I was talking to a friend earlier. He bought some Bitcoin in February this year about 6 weeks before lockdown and kept the 16 digit code in a secure folder on his pc at work ( he is self employed).
Has just been allowed back into the rented service office he uses and realised he has forgotten his login details for the folder as he hasn't used it for months.
He says its " just a few thousand " worth of Bitcoin, but I was wondering is there any other way he can get access to his secure folder? Seems such a shame to waste it.
Title: Re: Bitcoin and Altcoins
Post by: Kim on September 09, 2020, 08:16:43 AM
Thats unfortunate @Pipstar I hope he remembers it.
Title: Re: Bitcoin and Altcoins
Post by: Pipstar on September 13, 2020, 09:47:54 AM
Thats unfortunate @Pipstar I hope he remembers it.
He isn't that concerned about it Kim, says its not a lot of value and if that's the cost of learning a lesson then he has to pay it.
You never know, it might come back to him one day like these things sometimes do.
I'll let you know if he remembers.  :D
Title: Re: Bitcoin and Altcoins
Post by: ElvisChute on September 17, 2020, 03:57:55 PM
Must be nice not to have to care about losing access to Bitcoins.  If only...
Title: Someone Just Emptied Out a Bitcoin Wallet With $964,000,000 In It
Post by: YenPounder on November 04, 2020, 08:36:49 PM
It's not yet clear if a hacker made off with a gigantic payday, or if the wallet's secretive and long-dormant owner just came out of retirement. https://www.vice.com/en/article/g5bbaj/someone-emptied-out-bitcoin-wallet-with-964000000-million

Bitcoin Tops $14k As Billion-Dollar 'Silk Road' Wallet Moves For First Time Since 2015: https://www.zerohedge.com/crypto/bitcoin-tops-14k-billion-dollar-silk-road-wallet-moves-first-time-2015
Title: Re: Bitcoin and Altcoins
Post by: eddieb on November 04, 2020, 09:05:06 PM
Either way, that is an incredible amount.
Somebody is going to have a very nice Christmas

I've not looked at bitcoin for a while, I've never really been convinced about the whole idea of cryptocurrency probably because of how its used by criminal organisations and the like.

Do you follow them or invest in them yourself?
Title: Re: Bitcoin and Altcoins
Post by: YenPounder on November 04, 2020, 11:04:38 PM
Do you follow them or invest in them yourself?

I find articles like this interesting, but I don't invest in crypto. I'm unconvinced about Bitcoin, but not for the same reasons. I don't understand it enough to trade, and I'm not sure of it as a store of wealth. It certainly didn't work out for the guy in the article, if his $1 billion dollars were stolen.
Title: Re: Bitcoin and Altcoins
Post by: Pipstar on November 05, 2020, 01:14:15 PM
I posted before about a friend who lost his wallet login key.
He 'only had a few thousand pounds worth, but this must happen to a lot of people.
Your $900m is a different story
Title: Re: Someone Just Emptied Out a Bitcoin Wallet With $964,000,000 In It
Post by: YenPounder on November 05, 2020, 06:04:24 PM
It's not yet clear if a hacker made off with a gigantic payday, or if the wallet's secretive and long-dormant owner just came out of retirement. https://www.vice.com/en/article/g5bbaj/someone-emptied-out-bitcoin-wallet-with-964000000-million

Bitcoin Tops $14k As Billion-Dollar 'Silk Road' Wallet Moves For First Time Since 2015: https://www.zerohedge.com/crypto/bitcoin-tops-14k-billion-dollar-silk-road-wallet-moves-first-time-2015

Initially, speculation had it that $1 billion worth of bitcoin might have just been stolen by hackers. It turns out the government was behind it all along.

The Justice Department this week reportedly seized that unprecedented sum, which sat dormant for years in a wallet linked to Silk Road, the online black market that was shut down in 2013.
Title: Re: Bitcoin and Altcoins
Post by: Caesar on November 05, 2020, 06:36:19 PM
the government was behind it all along.
Do they have the right to do that? Seems odd,to say the least.
(I can't follow your link, its flagged as unsafe)
Title: Re: Bitcoin and Altcoins
Post by: YenPounder on November 05, 2020, 09:06:08 PM
(I can't follow your link, its flagged as unsafe)

Thanks for the heads up. For some reason this forum website converts my link which was for Market Watch into something called markeTwitch.

Perhaps this forum does not allow links to that site directly.

Below is the ending for the URL. Try copying and pasting that into your browser after Market Watch DOT Com to see the article.

/story/somebody-may-have-just-gotten-away-with-stealing-1-billion-11604592280
Title: Re: Bitcoin and Altcoins
Post by: Caesar on November 05, 2020, 10:19:26 PM
There shouldn't have been a problem, maybe just autocorrect playing up.
Anyhow, got there in the end, thanks
Title: Re: Bitcoin and Altcoins
Post by: eddieb on November 26, 2020, 03:19:36 PM
After hitting highs of $20k yesterday, Bitcoin has dropped 12% today and is sitting at $17,233.
How much of this years rise is down to the 4-yearly halvening is anybodies guess, but this cycle does seem to repeat 2016 and if it continues the same way price could head towards or beyond $10k
Not one for the faint-hearted
Title: Re: Bitcoin and Altcoins
Post by: PipMeHappy on November 27, 2020, 08:02:20 AM
Caught about 2500 pips and as it seemed to be stalling
 I closed. the trade - I will leave it atthat for now.

Title: Re: Bitcoin and Altcoins
Post by: eddieb on November 27, 2020, 09:57:17 AM
I think there could be a fair bit of action here over the next few months
Title: Re: Bitcoin and Altcoins
Post by: PipMeHappy on November 29, 2020, 11:49:23 PM
BTC/USD up 13000 pipsin the last hour...

What a way to start thetrading week!

Title: Re: Bitcoin and Altcoins
Post by: eddieb on November 30, 2020, 08:51:48 PM
Good trade you grabbed there PMH.
I am hoping bitcoin will fall back, thats what happened last time it shot up like this.
I know the game has changed slightly since then, but I still feel this is too frothy.
I suppose we just have to wait and see. One thing for certain, there aren't many dull days when you trade Bitcoin
Title: Re: Bitcoin and Altcoins
Post by: Caesar on November 30, 2020, 09:17:03 PM
Did any of you know that PayPal now sell Bitcoin? This was news to me

Paypal bought up to 70% of all the newly mined bitcoin since the payments giant started offering cryptocurrency services four weeks ago.

Read the whole article here
https://news.bitcoin.com/paypal-bought-70-of-all-newly-mined-bitcoin-last-month-as-demand-rockets/
Title: Re: Bitcoin and Altcoins
Post by: eddieb on November 30, 2020, 09:46:05 PM
Did any of you know that PayPal now sell Bitcoin?
Yes, and its possibly partly why the price has shot up this month.

Is it a good idea? Not convinced yet.
Title: Re: Bitcoin and Altcoins
Post by: krugman25 on December 02, 2020, 03:08:47 PM
More major crypto news to hit the wire: Visa Partners With Ethereum Digital Dollar Startup.  I can't wait for this to be a thing.  When I close a position I almost always move my capital into USDC.  It would be really nice to be able to just use that USDC directly at retailers without needing to first convert it to USD and move it into my bank account.  I am sure this will require having the USDC on a centralized exchange like Coinbase, but it would be even better if we could do this while keep our money on-chain and in our own custody.

https://www.forbes.com/sites/michaeldelcastillo/2020/12/02/visa-partners-with-ethereum-digital-dollar-startup-that-raised-271-million/?sh=423b0c414b1f
Title: Re: Bitcoin and Altcoins
Post by: PipMeHappy on December 02, 2020, 07:29:34 PM
@krugman25  interesting...

There are rumours of a Coinbase IPO in 2021: could
this mean anything for cryptos?
Title: Re: Bitcoin and Altcoins
Post by: krugman25 on December 02, 2020, 07:59:00 PM
@krugman25  interesting...

There are rumours of a Coinbase IPO in 2021: could
this mean anything for cryptos?

I think it will be really bullish for DeFi coin prices tbh.  For example, Uniswap now does more than double the daily trading volume of Coinbase (see https://www.coindesk.com/defi-flippening-uniswap-topples-coinbase-trading-volume (https://www.coindesk.com/defi-flippening-uniswap-topples-coinbase-trading-volume)).  As a matter of fact Uniswap collects more fees per day than the entire Bitcoin network (see https://twitter.com/JohnTodaro1/status/1331033818581569536?s=20 (https://twitter.com/JohnTodaro1/status/1331033818581569536?s=20)).  Uniswap's current market cap is 800 million.  How I think the Coinbase IPO could help Uniswap and other DeFi protocols token prices are by creating a market cap reference point for a very similar product.  If Coinbase IPO's for $50B and Uniswap is valued at $5B at the time then it could cause some upward pressure on UNI's token price over time.  Especially if Uniswap's trading volumes are 2x or 3x higher than CB's and even more so if Uniswap starts transferring part of the trading fees to UNI token holders as profit sharing which some protocols have already started doing such as Harvest Finance and Yearn.
Title: Re: Bitcoin and Altcoins
Post by: PipMeHappy on December 03, 2020, 09:18:23 AM
Thanks, that is. a great post and I hope everyone is reading it because an IPO from one
of the founding companies of the whole venture capital commercialisation of early cryptocurrencies is the closest we have to fundamentals and a centralised volume dataset
for the sector. In fx for example there are currency futures and options, whicheven though do
not lead cash price and have a smaller share of its size at least offer a centralised volume and open interest dataset for reference when looking at support and resistance at key price levels, not to mention central bank actions and their measurable consequences in trading the spot charts. With cryptos there is little such centralised data and it does feel like throwing. darts into a dark whole...I am curious to see some of your videos and Learn something new.
Title: Re: Bitcoin and Altcoins
Post by: eddieb on December 07, 2020, 01:34:13 PM
The FCA are banning all retail clients fron trading Cryptocurrency CFD's from Jan 1st, 2021
Title: Re: Bitcoin and Altcoins
Post by: PipMeHappy on December 07, 2020, 07:50:37 PM
The FCA are banning all retail clients fron trading Cryptocurrency CFD's from Jan 1st, 2021

Seriously?I guess they are knocking this one on the head early
as there is plenty of evidence of scams. Smart
traders will find a way around the ban, I am sure.
Title: Re: Bitcoin and Altcoins
Post by: Caesar on January 03, 2021, 01:42:51 PM
The FCA are banning all retail clients fron trading Cryptocurrency CFD's from Jan 1st, 2021
This from the FCA website seems to explain it
https://www.fca.org.uk/news/press-releases/fca-bans-sale-crypto-derivatives-retail-consumers
Title: Re: Bitcoin and Altcoins
Post by: eddieb on January 04, 2021, 10:22:43 AM
After tripling in value over the past 3 months to over $34k, Bitcoin has taken back a chunk this morning and now sits at £29k.
How much is just profit-taking we'll have to wait and see.
The last time it shot up like this it reversed and wiped out all its past gains.
Must be a nervous time for anyone who jumped in late and paid top dollar.
Title: Re: Bitcoin and Altcoins
Post by: BWS on January 08, 2021, 11:32:10 AM
Has anyone seen Bitcoin and other Cryptocurrencies today? Prices ripping up as uncertainties persist in the US and the dollar lacks direction.
Over $41k for Bitcoin, which was around the $4k mark a in early 2020. Totally unjustifiable IMHO, anyone buying in now is taking on helluva risk. The old FOMO syndrome.
Title: Re: Bitcoin and Altcoins
Post by: BWS on January 08, 2021, 11:46:16 AM
Don't forget the taxman!

With the surge in Bitcoin price, some may be thinking about cashing in. If you do, remember to check the tax rules in your country and make sure you declare if required. You don't want the taxman looking into your finances.
For example, here are the rough rules in the US:

First, the IRS will most likely know about your activities, or at least it can check and confirm them. All Bitcoin transactions are permanently stored in the Bitcoin network, and the network is public.
You'll no doubt receive a notice from the IRS if you neglect to pay taxes on this income. You'll be charged interest at the rate of 0.5% on the amount of tax you owe, up to a cap of 25% of the unpaid balance. You'll also be penalized at the rate of 5% a month as of 2020.
The IRS additionally has numerous enforcement options for collection, from liens against your property to levies on your income and bank accounts.
(https://www.thebalance.com/thmb/7HZ5I-KS9XWUB8VzazPLanABTxo=/1600x0/filters:no_upscale():max_bytes(150000):strip_icc():format(webp)/how-bitcoins-are-taxed-3192871-FINAL-5ba4fd734cedfd0025e1a3ae.png)
Title: Re: Bitcoin and Altcoins
Post by: PipMeHappy on January 09, 2021, 04:19:03 PM
Bitcoin from a technical point of view has gone hyperbolic,which in my view makes it difficult to trade...As a currency trader I find it easier to work with historic levels,and in our time most Majors operate within historic levels. This makes it easier from a TA point of view both in trend trading and range trading; trading endlessly into higher highs like with Bitcoin/USD means you have only Fib extensions or similar tools, but no previously tested resistance to wotk. with. I find that it does not fit my trading style... which is why I am dropping Turkish Lira or the S&P500 off my radar, as their endless one-directionality makes me very nervous.

Good luck to all you Bitcoin buyers and sellers out there, I take my hat off. to. you!!
Title: Re: Bitcoin and Altcoins
Post by: Caesar on January 09, 2021, 08:12:14 PM
in my view makes it difficult to trade
I think you have to treat it as a punt. Only put into it spare money that you are prepared to lose or wait for however long it takes to fall back to levels you are comfortable with before buying.
I think its been said on here before that only 3 or 4 percent of Bitcoins are actually in circulation, the rest are being held by a tiny number of owners. This means little liquidity and huge fluctuations in price.
With little fundamental reason to buy and, as you say, noTA point if view, anyone buying now is taking a massive risk.
Title: Re: Bitcoin and Altcoins
Post by: BigJtradeslikeaPro on January 11, 2021, 11:39:48 AM
The FCA are banning all retail clients fron trading Cryptocurrency CFD's from Jan 1st, 2021
This from the FCA website seems to explain it
https://www.fca.org.uk/news/press-releases/fca-bans-sale-crypto-derivatives-retail-consumers

Yes but you can still trade them with an offshore broker. Which is where most people will trade them anyway? Better leverage and 24/7etc.
Title: Re: Bitcoin and Altcoins
Post by: BigJtradeslikeaPro on January 11, 2021, 11:41:00 AM
Big fall on Bitcoin in the past few days, was to be expected though.
Title: Re: Bitcoin and Altcoins
Post by: BigJtradeslikeaPro on January 11, 2021, 11:42:40 AM
Personally I have enjoyed trading XRP the most in the past 12 months.

I bought in at 0.2 and sold at 0.55.

Bought in again last month at 0.22 and sold at 0.35
Title: Re: Bitcoin and Altcoins
Post by: Caesar on January 11, 2021, 01:17:20 PM
Big fall on Bitcoin in the past few days, was to be expected though.

Hello BigJ and welcome to the forum.
With you on Bitcoin dropping, there was always going to be a pullback and Bitcoin doesn't do them by half.
How do you see it moving over the coming month? Rising to new highs again, fluctuating depending on dollar strength, or a full blown drop?
Title: Re: Bitcoin and Altcoins
Post by: PipMeHappy on January 11, 2021, 08:56:29 PM
https://amp.theguardian.com/business/2021/jan/11/bitcoin-be-prepared-to-lose-all-your-money-fca-warns-consumers-risk-productis-cryptoassets

Title: Re: Bitcoin and Altcoins
Post by: Kaitsu on January 12, 2021, 07:53:27 AM
That is a severe warning to all new investment in such instruments. As always, one should only part with one's money if one is aware of the full extent of the risks involved.

Potentially large gains are usually shadowed by equally potentially large losses. Too often, it seems, the glitter of the former blinds people to the latter.....

The sad thing is that whenever ordinary folk start to lose big and important money (life savings, pensions, etc) due to ignorance of the risk potential, the authorities step in and make the markets even more rigid, limited and narrow - which affects all participants.
Title: Re: Bitcoin and Altcoins
Post by: Caesar on January 12, 2021, 08:23:20 AM
It doesn't help when experienced traders on other forums are coming out with statements saying it could hit $400k and encouraging newer members to get in while they can.
Totally irresponsible
Title: Re: Bitcoin and Altcoins
Post by: Caesar on January 12, 2021, 09:48:42 PM
I don't think I would be telling the world my story if this were me
https://www.dailymail.co.uk/news/article-9139527/Computer-programmer-2-password-guesses-left-access-220m-Bitcoin-locks-FOREVER.html?ns_mchannel=rss&ns_campaign=1490&ito=1490
Title: Re: Bitcoin and Altcoins
Post by: eddieb on January 13, 2021, 05:35:41 PM
Currently, about $140bn worth of Bitcoin is lost or left in wallets that cannot be accessed, according to cryptocurrency-data company Chainanalysis.

And businesses helping retrieve digital currency receive multiple requests each week, there are many documented takes of unfortunate owners.

An entrepreneur lost about 800 bitcoins when a colleague reformatted a laptop containing the private keys to his wallet.

And in 2013, a Welsh man desperately searched a landfill site after throwing away a computer hard drive containing 7,500 bitcoins.

At the time worth more than £4m, this would now be valued at more than £250m.
Title: Re: Bitcoin and Altcoins
Post by: ElvisChute on January 13, 2021, 08:36:18 PM
140bn worth of Bitcoin is lost or left in wallets that cannot be accessed
That sure is a whole chunk of Bitcoins
Title: Re: Bitcoin and Altcoins
Post by: LuckyMac on January 15, 2021, 12:55:37 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.”

Only got in the middle of last year but even that has been fun lol :)
Title: Re: Bitcoin and Altcoins
Post by: eddieb on January 15, 2021, 01:04:01 PM
Only got in the middle of last year but even that has been fun lol
Nicely timed, you must be pleased with the rise this past few months.

Title: Re: Bitcoin and Altcoins
Post by: Max on January 15, 2021, 04:00:26 PM
A 10% drop today, after just falling short of all time highs, illustrates exactly why I dont  trade this!
As far as I can see, there is no more reason to sell today than there was to buy earlier in the week.
Good luck to anyone here who is holding Bitcoin, I hope you bought in very cheap and not at the top
Title: Re: Bitcoin and Altcoins
Post by: PipMeHappy on January 15, 2021, 09:12:34 PM
Ah... this man here definitely needs a bit of luck...

https://amp.theguardian.com/uk-news/2021/jan/14/man-newport-council-50m-helps-find-bitcoins-landfill-james-howells

YOU COULD NOT MAKE THIS UP... :-[  :-[  :-[  :-[  :-[
Title: Re: Bitcoin and Altcoins
Post by: Caesar on January 15, 2021, 09:17:30 PM
Yes, I read about him earlier.
Unbelievable. I hope they didn't cost him much, so his actual loss ( rather than his paper loss) isn't problematic.
Title: Re: Bitcoin and Altcoins
Post by: eddieb on January 29, 2021, 09:50:40 PM
Bitcoin jumped about $4,000 today after Elon Musk added #Bitcoin to his Twitter profile. It’s fair to say that the regulators and the system are struggling to copy with the pace of change in the market.
There's something seriously wrong when something as trivial as a tweet can do this, not to mention the possibility of this being used by an unscrupulous "celebrity" for his/her own financial gain. Think about it for a moment.
Title: Re: Bitcoin and Altcoins
Post by: PipMeHappy on January 30, 2021, 09:32:11 AM
yes, thought technically it is a failed downside breakout:
when the previous triangle was broken to the downside
we were waiting to see if this would snowball into a more
sustained trend reversal but this jump has negated the
previous breakout.

Fundamentally there is very little to go on, so TA
and using stops is all there is for trading this...

I agree with you, if a tweet. like that is all it takes then
there is no point paying any attention to Bitcoin news.

Title: Re: Bitcoin and Altcoins
Post by: Gazza on February 16, 2021, 01:13:23 PM
WOW!!
Bitcoin just hit $50k for the first time.
I know Tesla and others seem to think this has got a real future, but all I see if bubble with no substance. For those who have joined late, please be careful. Bitcoin has dropped like a stone before and could easily do so again.
Title: Re: Bitcoin and Altcoins
Post by: Caesar on February 25, 2021, 11:35:17 AM
Personally I have enjoyed trading XRP the most in the past 12 months.

I bought in at 0.2 and sold at 0.55.

Bought in again last month at 0.22 and sold at 0.35
Hi @BigJtradeslikeaPro
How's your trading lately? Prices have moved a lot since you last posted, hope you banked some bucks!
Title: Re: Bitcoin and Altcoins
Post by: eddieb on February 25, 2021, 02:31:27 PM
Coinbase, the big crypto exchange, has confirmed that it intends to go public via a direct listing rather than an IPO.

Choosing to go with a direct listing means that Coinbase will be selling shares directly to the public with no intermediaries or underwriters involved, as is the case with a traditional IPO. It also means the company will not be issuing new shares.
Title: Re: Bitcoin and Altcoins
Post by: Caesar on March 06, 2021, 09:01:21 AM
It seems there are no limits to what the rich will do to get even more money.

Businessman John McAfee, creator of the McAfee anti-virus software, has been charged in the US with conspiracy to commit fraud and money laundering.

Mr McAfee and his bodyguard Jimmy Gale Watson Jr are accused of promoting cryptocurrencies to Mr McAfee's large Twitter following to inflate prices.

The currencies were then allegedly sold, making the pair $2m (£1.45m), prosecutors said.
Title: Re: Bitcoin and Altcoins
Post by: ElvisChute on March 29, 2021, 02:53:17 PM
Looks like more and more companies are prepared to accept Bitcoins as a currency.
The Oakland A’s baseball team recently announced it had priced full-season, luxury suite packages for one Bitcoin. In dollars, the full-season suite package costs around $65,000, so the A’s are offering a discount to those paying with the cryptocurrency.

They are the first sports franchise to price their tickets in Bitcoin. Other sports teams, including Mark Cuban’s Dallas Mavericks of the NBA, accept Bitcoin as payments. The A’s have extended their Bitcoin offer until Apr. 1. As the token was trading at under the $54,000 level at the end of last week, it is a bargain.

Whatever Central Banks and governments might think, business looks like it might force them to accept Bitcoin whether they like it or not
Title: Re: Bitcoin and Altcoins
Post by: eddieb on April 06, 2021, 01:37:00 PM
A new milestone today as the value of cryptocurrencies totalled $2 trillion for the first time.
Oddly, flows into Bitcoin funds are down to about 10% of their value at the end of 2020, although prices of Ether and XRP have soared recently to new highs
Title: Re: Bitcoin and Altcoins
Post by: Sharkie on April 08, 2021, 04:28:42 PM
Hello all.

In 2010 Bitcoin was under 10c, today its around $60k, so a $1 investment would today be worth about $600,000.
Whats the chance of this happening to another crypto? Pretty slim, but is it worth putting $1 into 100 different cryptos? For a $100 risk, you could make a lot of money if just one of your cryptos becomes the next big thing
Worst case scenerio, you lose $100.

Worth thinking about? What do you think?
Title: Re: Bitcoin and Altcoins
Post by: Gazza on April 09, 2021, 09:57:19 AM
Southampton FC have a sponsorship deal with Coingaming where, if performance bonuses are hit, the football club can opt to take payment of these bonuses in Bitcoins if they like.

A bit unusual, but maybe a sign of things to come?

Gazza
Title: Re: Bitcoin and Altcoins
Post by: BWS on April 09, 2021, 11:03:34 AM
Hello all.

In 2010 Bitcoin was under 10c, today its around $60k, so a $1 investment would today be worth about $600,000.
Whats the chance of this happening to another crypto? Pretty slim, but is it worth putting $1 into 100 different cryptos? For a $100 risk, you could make a lot of money if just one of your cryptos becomes the next big thing
Worst case scenerio, you lose $100.

Worth thinking about? What do you think?

That is actually a decent idea, I might give this some consideration
Title: Re: Bitcoin and Altcoins
Post by: Kim on April 16, 2021, 04:05:51 PM
Hiya!

Have you seen how much Dogecoin has gone up?  183%!!!! and 502% over 7 days.
 :o ???
Title: Re: Bitcoin and Altcoins
Post by: eddieb on April 19, 2021, 04:10:02 PM
UK Chancellor Rishi Sunak tweeted one word, 'Britcoin' after the Finance Minister announced a new Uk taskforce to look into a central bank digital currency.

The more nation central banks do this, the harder it is to see a future for Bitcoin anywhere near as good as its proponents hope for.
Title: Re: Bitcoin and Altcoins
Post by: Max on May 04, 2021, 03:35:50 PM
Hi all!
Any one else see that the auction house Sothebys are going to accept bitcoins as payment for one of Banksy's pieces?
It doesnt say if this is just a one off or something they will do again, but its a start
Title: Re: Bitcoin and Altcoins
Post by: BWS on May 06, 2021, 03:38:55 PM
I saw this chart earlier showing year-on-year performance of the various cryptocurrencies.
Absolutely bonkers, this can surely only end in tears, it simply isnt sustainable.
Title: Re: Bitcoin and Altcoins
Post by: Caesar on May 09, 2021, 09:48:59 PM
I saw this chart of Dogecoin and couldn't resist sharing, plus it sort of follows on from Ben's point about over-inflated prices
Title: Re: Bitcoin and Altcoins
Post by: BWS on May 11, 2021, 02:11:42 PM
I see that hacker group DarkSide have demanded payment in Bitcoins for the ransomware attack on the Colonial Pipeline.
This seems likely to draw attention to the 'anonymity' of cryptos, and could well lead to further regulation against them - not good news if youre a HODLer.
Title: Re: Bitcoin and Altcoins
Post by: Sharkie on May 16, 2021, 10:54:12 AM
I've been hearing a lot about Filecoin.
Have any of you come across this and what's your thoughts.
Title: Re: Bitcoin and Altcoins
Post by: BWS on May 17, 2021, 12:05:21 PM
I've been hearing a lot about Filecoin.
Have any of you come across this and what's your thoughts.
Hi Sharkie.

Ive come across this.

Currently if you need to use cloud computing the majority of this is provided by the big US tech giants, I believe Amazon and Microsoft have over half the market between them. Filecoin is a way of offering cloud storage using blockchain technology, and the cost of this is negotiated between providers and users directly, cutting out the middle men and offering prices as much as 3 or 5% of what is currently available.
The tech giants have the power of their brand behind them, and will not let big users leave easily, but the potential for Filecoin is immense even if this only takes a small portion of the market. The Filecoins themselves are the only way to sell or buy Filecoin cloud, so there is an almost guaranteed market and use for the coins, something many other cryptocurrencies do not have.

Hope that helps

Ben
Title: Re: Bitcoin and Altcoins
Post by: eddieb on May 17, 2021, 02:19:34 PM
Elon Musk (again) has tweeted Bitcoin down. This time he has reasserted his dislike for the environmental impact of Bitcoin mining, adding that Dogecoin is better placed to become mainstream.
Bitcoin down 7.3%, dragging most other cryptos with it, including Dogecoin which is down 4%
Title: Re: Bitcoin and Altcoins
Post by: eddieb on May 19, 2021, 02:40:56 PM
Another terrible day for holders /hodlers of cryptocurrencies.
Bitcoin is down 20% today alone, 37% down since this time last week. Sitting at $35245 it seems the heady days of $60k are a long time ago.
Other cryptos faring similarly. Eth down 26% today/43% 7 days, ICP down 38% /66% 7 days, Dogecoin -24% /34%  7 days.
My heart goes out to anyone who went in late.
Title: Re: Bitcoin and Altcoins
Post by: eddieb on May 19, 2021, 03:14:56 PM
Not great when the biggest cryptocurrency platform, Coinbase, is telling users upon login that they should expect to wait for an hour before they can access their accounts!

Reminds me of when Northern Rock crashed and customers where queueing outside branches in the hope of withdrawing their money
Title: Re: Bitcoin and Altcoins
Post by: PipMeHappy on May 20, 2021, 06:24:29 AM
booooooooom

https://www.theguardian.com/technology/2021/may/19/bitcoin-falls-30-after-china-crackdown
Title: Re: Bitcoin and Altcoins
Post by: BWS on May 21, 2021, 11:00:31 AM
Yesterday the US Treasury Department announced that it would require any transfer of cryptocurrency worth $10,000 or more to be reported to the IRS, the first sign that the US is considering clamping down on cryptocurrency markets.

A spokesman for the Treasury said “Cryptocurrency already poses a significant detection problem by facilitating illegal activity broadly including tax evasion.”

It concerns me that some are trying, desperately, to push the current situation as a buying opportunity. Only time will tell, but I was disappointed that my own broker was one of those pushing this idea.
Title: Re: Bitcoin and Altcoins
Post by: PipMeHappy on May 21, 2021, 09:37:31 PM
I saw this chart earlier showing year-on-year performance of the various cryptocurrencies.
Absolutely bonkers, this can surely only end in tears, it simply isnt sustainable.

It sure did, @BWS !!!!  I hope nobody here got too badly burnt by the fallout . . .  :(  :(
Title: Re: Bitcoin and Altcoins
Post by: Caesar on May 22, 2021, 07:58:53 AM
disappointed that my own broker was one of those pushing this idea.
Hi Ben.
I sympathise 100%, but I suppose the bottom line is that our brokers are out to make profits and its clearly in their best interests to encourage clients to trade. I'm not saying I agree with this in any way, but that's just how it is.
Title: Re: Bitcoin and Altcoins
Post by: eddieb on May 24, 2021, 10:40:10 AM
there is a speech due later from Fed Governor Lael Brainard about digital currencies. Analysts and traders will be listening keenly for any clues as to what the Feds position on this is and what future plans are or may be put into place.
 
In China, crypto miners have halted mining after the governments announcement last week as part of its strategy to achieve carbon neutrality by 2060. With Chinese miners accounting for an estimated 70% of all crypto mining, it will be interesting to see how this affects crypto prices. I would expect that if fewer cryptos are being mined, then the prices of those available already would rise, but we all know cryptos live in a world of their own and behave in ways we do not always understand
Title: Re: Bitcoin and Altcoins
Post by: BWS on May 24, 2021, 11:49:37 AM
Here's one for you.

11 years ago on Saturday just gone, May 22, 2010, the first purchase of a physical product with Bitcoin was made. (you may wish to sit down before you read any more)
Laszlo Hanyecz traded 10,000 Bitcoin for two Papa John’s pizzas in Florida.
Let me say that again - 10,000 Bitcoin for two Papa John’s pizzas!!
At todays price of $32k per Bitcoin, thats $320,000,000 and at Bitcoins peak a few weeks ago, it would have been over $620M
Title: Re: Bitcoin and Altcoins
Post by: Caesar on May 24, 2021, 12:18:45 PM
Here's one for you.

11 years ago on Saturday just gone, May 22, 2010, the first purchase of a physical product with Bitcoin was made. (you may wish to sit down before you read any more)
Laszlo Hanyecz traded 10,000 Bitcoin for two Papa John’s pizzas in Florida.
Let me say that again - 10,000 Bitcoin for two Papa John’s pizzas!!
At todays price of $32k per Bitcoin, thats $320,000,000 and at Bitcoins peak a few weeks ago, it would have been over $620M

I hope they were good pizzas!
Title: Re: Bitcoin and Altcoins
Post by: Sharkie on May 24, 2021, 04:23:44 PM
10,000 Bitcoin for two Papa John’s pizzas
I didnt know that. Incredible. I just hope the guy who did it had another few thoiusand stashed away somewhere that he didnt spend on pizza.
Title: Re: Bitcoin and Altcoins
Post by: BWS on May 27, 2021, 04:30:17 PM
Another day, another crypto critic raises his head.

Denmarks central bank governor, Lars Rohde, told Bloomberg that he thought cryptos were just a fad that we should all ignore! He said. “I think the term ‘currency’ is badly used here. Most currencies are stores of value or means of transactions.”

“It is a very speculative asset at best.”

This follows China banning crypto mining and Bank of England governor Andrew Bailey warning investors that they should only invest in cryptocurrencies if they are prepared to lose all their money.
Title: Re: Bitcoin and Altcoins
Post by: PipMeHappy on May 28, 2021, 10:14:39 PM
Here's one for you.

11 years ago on Saturday just gone, May 22, 2010, the first purchase of a physical product with Bitcoin was made. (you may wish to sit down before you read any more)
Laszlo Hanyecz traded 10,000 Bitcoin for two Papa John’s pizzas in Florida.
Let me say that again - 10,000 Bitcoin for two Papa John’s pizzas!!
At todays price of $32k per Bitcoin, thats $320,000,000 and at Bitcoins peak a few weeks ago, it would have been over $620M


You can have too much dosh but you can never have enough dough.


Pizza is a great store of value anyway -

though compared to a ten-year bond...

it may not mature very well


 :o :o :o
Title: Re: Bitcoin and Altcoins
Post by: ElvisChute on June 04, 2021, 10:20:12 AM
I've been hearing a lot about Filecoin.
Have any of you come across this and what's your thoughts.

Hi Mate.
I bought a small amount of these, just $100. I had read about and though it looked like something useful so might have some intrinsic value. Any how its had its ups and downs in the few weeks Ive had it but today it shot up after this news
https://decrypt.co/69841/filecoin-launches-decentralized-storage-service-for-nfts?&utm_medium=referral&utm_campaign=feed&utm_source=coinbase

My plan is to hold onto this for years and hope it goes flying one day like bitcoin. If it does not then ive only lost 100 bucks so no biggie
Title: Re: Bitcoin and Altcoins
Post by: BWS on June 09, 2021, 10:31:13 AM
El Salvador have passed a law making Bitcoin legal tender. Details are a bit thin, but its the first positive thing Ive seen on Bitcoin for a while and price has gone up around 3% this morning.
A case of 'watch this space' I think
Title: Re: Bitcoin and Altcoins
Post by: Gazza on June 10, 2021, 04:10:23 PM
The crackdown in China of cryptos has resulted in 1000 arrests. The Chinese Ministry of Public Security said that it has arrested about 1,100 individuals for laundering money through cryptocurrencies. The money launderers allegedly charged a commission of 1.5% to 5% to convert criminal proceeds to cryptocurrencies using crypto exchanges. The Ministry did not provide details over how much money was laundered, nor which trading platforms were used. I imagine this will have a lot of people worried, not just in China.
Title: Re: Bitcoin and Altcoins
Post by: eddieb on June 11, 2021, 10:57:54 AM
More news on Bitcoin today, positive or negative depending on your take on this.

The Basel Committee on Banking Supervision has classified Bitcoin as a very risky asset (What a surprise!)

The committee, basically the regulator for international banking, proposed that a 1,250% risk weight be applied to a bank’s exposure to Bitcoin and certain other cryptocurrencies. 

The ruling could be seen as a double-edged sword, as although it brought cryptocurrencies further into the mainstream financial world, it also made them extremely costly for banks to hold on their balance sheets, potentially delaying a wider adoption.
Title: Re: Bitcoin and Altcoins
Post by: BWS on June 17, 2021, 03:46:59 PM
El Salvador have passed a law making Bitcoin legal tender. Details are a bit thin, but its the first positive thing Ive seen on Bitcoin for a while and price has gone up around 3% this morning.
A case of 'watch this space' I think

Stumbling block #1
The World Bank has refused a request from El Salvador to assist in the country’s implementation of Bitcoin as legal tender, saying it is concerned about transparency and the leading cryptocurrency’s impact on the environment. Earlier this month, the International Monetary Fund (IMF) said that El Salvador’s decision raises several “macroeconomic, financial, and legal issues that require very careful analysis.”
Title: Re: Bitcoin and Altcoins
Post by: Caesar on June 21, 2021, 09:04:42 AM
Another bit of bad news for cryptocurrencies
https://www.reuters.com/technology/cryptocurrencies-tumble-amid-china-crackdown-bitcoin-miners-2021-06-21/
Title: Re: Bitcoin and Altcoins
Post by: BWS on June 21, 2021, 02:00:03 PM
A very interesting article, and another kick in the teeth for bitcoin holders
Title: Re: Bitcoin and Altcoins
Post by: BWS on June 22, 2021, 10:39:31 AM
Ive been reading about Mike Berners-Lees 2020 update of 'How Bad are Bananas?', a book about the carbon footprint of 'everything'.
No surprise, Bitcoin takes a hammering. Currently it accounts for 0.3% of all global electricity usage, with all cryptos totalling 0.5%, and he estimates that within 20 years if growth in Bitcoin mining continues, Bitcoin alone could push the world over 2 degrees global warming.
Title: Re: Bitcoin and Altcoins
Post by: PipMeHappy on June 25, 2021, 11:31:58 PM
https://uk.finance.yahoo.com/news/bitcoin-el-salvador-cryptocurrencies-price-latin-america-230140891.html
Title: Re: Bitcoin and Altcoins
Post by: Caesar on June 26, 2021, 02:04:15 PM
Another Bitcoin scam?
https://www.thescottishsun.co.uk/news/7311105/bitcoin-brothers-vanish-with-2-5billion-in-investor-funds/amp/
Title: Re: Bitcoin and Altcoins
Post by: PipMeHappy on June 27, 2021, 10:48:34 AM
Total scum because they knew exactly what they were doing all along...

May the law come down on them hard and strip them of everything they accrued so unethically.

This does nothing for the BitCoin brand, though it cannot be blamed (it is just another vechicle

and has no morality per se).

Title: Re: Bitcoin and Altcoins
Post by: Caesar on June 27, 2021, 07:22:13 PM
LONDON (Reuters) -Britain's financial regulator has ordered Binance, one of the world's largest cryptocurrency exchanges, to stop all regulated activity and issued a warning to consumers about the platform which is coming under growing scrutiny globally.

In a notice dated June 25, the Financial Conduct Authority (FCA) said Binance Markets Ltd, Binance's UK entity, "must not, without the prior written consent of the FCA, carry out any regulated activities...with immediate effect".

The FCA has told Binance that by June 30 it must display a notice stating "BINANCE MARKETS LIMITED IS NOT PERMITTED TO UNDERTAKE ANY REGULATED ACTIVITY IN THE UK" on its website and social media channels.
Title: Re: Bitcoin and Altcoins
Post by: PipMeHappy on June 28, 2021, 11:03:36 PM
@Caesar @krugman25  @Kim  @Leebax

Do you think this spells the end of retail crypto trading in the UK?

PipMe
Title: Re: Bitcoin and Altcoins
Post by: Leebax on June 29, 2021, 10:53:59 AM
@Caesar @krugman25  @Kim  @Leebax

Do you think this spells the end of retail crypto trading in the UK?

PipMe

No, i dont see why it would?

i dont trade crypto on exchanges anyway its far to complicated to just place a simple order

I trade crypto on offshore brokers instead, its much better
Title: Re: Bitcoin and Altcoins
Post by: PipMeHappy on June 29, 2021, 10:02:52 PM
All retail CFD-based crypto trading on FCA-regulated brokerages has been banned in the UK, that is why:

https://ftof-finance.co.uk/investment/the-fca-bans-bitcoin-derivatives-all-the-details-you-should-know/

You are left with off-shore or unregulated UK  brokers or just holding actual crypto tokens for real-life purchases,
but other than that, I think this spells a huge decline in the gold-rush of people betting on crypto derivatives
in the regulated sense here in the UK.

The fact that it CAN be done does not mean it will be of a scale that was done before, is my guess.

Let us remember that the Klondike gold rush lasted three years (1896-1899) and then died away: the crypto rush
will also die away. I see this as a craze that will not stop people from holding cryptos (tokens etc.) but some of the
more popularised retail bets that we have seen in the recent past have already fizzled out after the massive tumble
from BitCoin.

Just my uneducated opinion.

:)

Title: Re: Bitcoin and Altcoins
Post by: BWS on July 09, 2021, 11:08:47 AM
This was in the FT...

"The UK’s advertising watchdog said it will clamp down on misleading marketing for crypto investments as part of a wider move by regulators to prevent harm to consumers who decide to trade unregulated digital assets.

The Advertising Standards Authority told the Financial Times it will begin a major effort this month to seek out and take down misleading or irresponsible crypto advertisements, particularly online and on social media platforms.

“We see this as an absolutely crucial and priority area for us,” said Miles Lockwood, director of complaints and investigations at ASA. “Where we do find problems we will crack down hard and fast.”

He said the agency has identified crypto as a “red alert” priority within financial advertising. Companies will be issued with warnings and may be required to include disclaimers on their advertisements.

The advertising industry’s self-regulatory body has been thrust to the forefront of efforts to supervise cryptocurrency advertisements because most crypto investments fall outside the scope of the UK’s strict rules for promoting traditional financial products, scrutinised by the Financial Conduct Authority.

The FCA has issued warnings that consumers buying popular crypto products “should be prepared to lose all their money”, but those have failed to filter through to most consumers.

The ASA in May criticised crypto app Luno over an ads campaign on London public transport with the tagline: “If you’re seeing Bitcoin on the Underground, it’s time to buy.” The watchdog said it was “misleading” and underplayed the risks of investing in volatile digital assets like Bitcoin."
Title: Re: Bitcoin and Altcoins
Post by: PipMeHappy on July 09, 2021, 01:38:29 PM
Excellent .......

Title: Re: Bitcoin and Altcoins
Post by: Caesar on July 13, 2021, 06:42:13 PM
https://metro.co.uk/2021/07/13/metropolitan-police-seize-180m-of-crypto-in-record-breaking-sting-14919633/