$33k this morning. $28k by lunchtime. $33k now.
Mad!
BITCOIN as an alternative to regular currency
- Realrocknrolla
- Posts: 1903
- Joined: Fri Jun 05, 2020 7:15 pm
Yep… just click the link i posted above and see what volume is being used. Knocks the socks off of BF
- MobiusGrey
- Posts: 294
- Joined: Fri Nov 23, 2018 8:10 pm
When the 'big boys' pull out and realise their gains a LOT of people are going to get caught with their pants down. It's the ones who can't afford to lose that have invested heavily in crypto thinking that they're trading who I feel sorry for the most.
Crypto for show, trading options for dough
Crypto for show, trading options for dough
Looks like the UK is starting to crack down on crypto. Binance is one of the biggest ones so I'm surprised they are going after them and not sure what it means for us UK users
https://www.ft.com/content/8bc0e5e0-270 ... ccaffaee87
https://www.ft.com/content/8bc0e5e0-270 ... ccaffaee87
- wearthefoxhat
- Posts: 3221
- Joined: Sun Feb 18, 2018 9:55 am
Slippery slope for UK users.alexmr2 wrote: ↑Sun Jun 27, 2021 6:32 pmLooks like the UK is starting to crack down on crypto. Binance is one of the biggest ones so I'm surprised they are going after them and not sure what it means for us UK users
https://www.ft.com/content/8bc0e5e0-270 ... ccaffaee87
However, usually Bitcoin jumps on bad news....
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Why the ‘Big Short’ Guys Think Bitcoin Is a Bubble
https://nymag.com/intelligencer/2021/10 ... ubble.html
https://nymag.com/intelligencer/2021/10 ... ubble.html
- Realrocknrolla
- Posts: 1903
- Joined: Fri Jun 05, 2020 7:15 pm
Usually alt coins follow Bitcoin (I assume people hedge on them at the high) but most of them seem to be remaining weak on this run except ETH.
I've been more interested in privacy coins recently as they can't be tracked (big advantage for lots of people). I'm trying Monero, Dero and Pirate Chain in the hope that more people switch to them over the next few years
I've been more interested in privacy coins recently as they can't be tracked (big advantage for lots of people). I'm trying Monero, Dero and Pirate Chain in the hope that more people switch to them over the next few years
Fake transaction buying from himself at inflated price with borrowed money paid back as part of the transaction !
https://www.coindesk.com/tech/2021/10/2 ... -for-530m/
Looks like the general market rout has begun.
Jezza Grantham, who has called 20 of the last 5 bubbles , called it out. Shiller Index screams it out.
Now the make believe world of crypto seems more correlated than spruikers (sp?) “promised”. All is not well in fairy land.
Jezza Grantham, who has called 20 of the last 5 bubbles , called it out. Shiller Index screams it out.
Now the make believe world of crypto seems more correlated than spruikers (sp?) “promised”. All is not well in fairy land.
In recent times I'm starting to see more reasons why increasing numbers of people may favour decentralised currencies.
1. Inflation being higher than normal in general with low interest rates in banks.
2. Crypto assets basically being in a constant long-term bull trend/stock market on steroids with many outperforming other asset classes.
3. Tightening tax laws, did you know that America recently lowered one of the tax thresholds from $20k to $600? This means that anyone selling just over $600 worth of items on ebay will automatically get a tax bill from the IRS with the assumption that they had a zero-cost basis and all $600 was profit unless they can prove their expenses. This was purposely introduced to go after the poor because they are an easier target who are less likely to challenge it.
4. Banks in general deciding what people can do with their own money or creating more barriers and intrusive checks, also blocking donations to certain causes deemed unacceptable by the state.
Disadvantages are potential future regulations (at least stopping the average person from swapping between FIAT and crypto), risk of losing it all, doesn't seem to be any way to have buyer protection online unless you complete a transaction in person.
My view is that there is less risk/potential loss of opportunity cost by owning at least some crypto than not having any at all. Personally I am happy to have 1-3% of a long-term portfolio in it but not any more due to the high risk, as it would not be an amount I am comfortable with losing.
https://www.cnbc.com/2021/03/26/its-goi ... sales.html
https://www.dailymail.co.uk/news/articl ... order.html
1. Inflation being higher than normal in general with low interest rates in banks.
2. Crypto assets basically being in a constant long-term bull trend/stock market on steroids with many outperforming other asset classes.
3. Tightening tax laws, did you know that America recently lowered one of the tax thresholds from $20k to $600? This means that anyone selling just over $600 worth of items on ebay will automatically get a tax bill from the IRS with the assumption that they had a zero-cost basis and all $600 was profit unless they can prove their expenses. This was purposely introduced to go after the poor because they are an easier target who are less likely to challenge it.
4. Banks in general deciding what people can do with their own money or creating more barriers and intrusive checks, also blocking donations to certain causes deemed unacceptable by the state.
Disadvantages are potential future regulations (at least stopping the average person from swapping between FIAT and crypto), risk of losing it all, doesn't seem to be any way to have buyer protection online unless you complete a transaction in person.
My view is that there is less risk/potential loss of opportunity cost by owning at least some crypto than not having any at all. Personally I am happy to have 1-3% of a long-term portfolio in it but not any more due to the high risk, as it would not be an amount I am comfortable with losing.
https://www.cnbc.com/2021/03/26/its-goi ... sales.html
https://www.dailymail.co.uk/news/articl ... order.html