BITCOIN as an alternative to regular currency

[Michael5482]

Current AML standards are stifling but completely pointless when Bitcoin exists. It's a farce.

Just shows you how far behind Governments are behind criminals when it comes to money, our Government for example is till messing about with AML legislation in betting and property in suburbia while criminals are moving billions around the world in Crypto

I'd say criminals are always about 10 years ahead of legislation, when Government get around to Crypto they'll be on to something else, one thing can be said for criminals and money they run rings around Governments and have done for donkeys years.

[Euler]

And so it shall pass

[Michael5482]

And so it shall pass

Makes you wonder what would happen to Crypto if Governments pull their fingers out and seize illegal Crypto money probably end up the same value as the rouble.

I'll stick to trading and investing in company shares, Nuclear Energy and Space are my recent two new long-term investments I'll stick with them over Crypto.

[Michael5482]

Strange how I've came across two crypto currency articles in the same day maybe it's a sign to stay away from it

490million to 60 million in 20 minutes, looks like she's done em all up like kippers

https://www.bbc.co.uk/news/articles/c89xvjkzzyvo

[firlandsfarm]

Imagine logging into an account to see you have 600 million of Bitcoin in it and can't access it

https://www.bbc.co.uk/news/articles/c77jx4d5748o

That is an old story, he's been banging away at it for years. I don't blame him but if he got access who would fund the cost of shifting through all the rubbish?

[BFDon]

New highs and we now have an official Trump Coin

[Naffman]

IMG_9453.png

Trump scamming everyone along with the Argentinian president has been bad for the market, who’d have thought

[jimibt]

IMG_9453.png

Trump scamming everyone along with the Argentinian president has been bad for the market, who’d have thought

the same thing has been true of USD pairs in forex, and in particular, gold (xauusd) has had a mad ride in both directions. definitely the trump factor. I never hold over the weekend any more - just too risky!!

[Naffman]

IMG_9453.png

Trump scamming everyone along with the Argentinian president has been bad for the market, who’d have thought

the same thing has been true of USD pairs in forex, and in particular, gold (xauusd) has had a mad ride in both directions. definitely the trump factor. I never hold over the weekend any more - just too risky!!

It seems people were buying the ‘Trump will be good for the market’ factor before he even got in, now he’s in I think they believe he’ll actually be worse (tariffs, isolationism)

[Euler]

Are there any coins that don't have wild price swings, ones that hold some sort of stable value?

[GranpaChook]

Stablecoins do. USDT is the biggest I think. They're always pegged to the dollar.

[Euler]

Stablecoins do. USDT is the biggest I think. They're always pegged to the dollar.

How do they peg it?

Wasn't there one that was supposed to be pegged but suddenly wasn't?

[jimibt]

Stablecoins do. USDT is the biggest I think. They're always pegged to the dollar.

How do they peg it?

Wasn't there one that was supposed to be pegged but suddenly wasn't?

i believe the Tether is secured against physical dollars. therefore, if the usd fluctuates, then usdt does so also (and ripples down thro the coins paired with it)

[Euler]

Thanks, just had a deep dive on it to see how it works. Just looking at a bridge to Crypto betting platforms.

[GranpaChook]

Stablecoins do. USDT is the biggest I think. They're always pegged to the dollar.

How do they peg it?

Wasn't there one that was supposed to be pegged but suddenly wasn't?

Yep, I think that was the Terra-Luna one. I think that was really dodgy as they had their own stable coin and native token. So the stable coin was backed by the token (which was obviously worthless). When the token crashed the stablecoin was no longer stable and the whole thing went caput. The owner was arrested for fraud in the end I believe.

To be honest, anything outside of Bitcoin is a total scam and should be veered clear of. Bitcoin itself you can debate for hours but it is at least decentralized and doesn't have a CEO or owners manipulating the supply at the drop of a hat. Genuine stablecoins do have their use (as you have alluded to as a bridge to Crypto betting platforms) and they *should*, theoretically be stable.