Cryptocurrency

[seafoid]

Punters  need to look under the bonnet in order to understand how robust their investments are likely to be under pressure

https://www.ft.com/content/7e0e2e24-cb4c-4694-be86-5cad9fc26d3e



Regulators need to extend some oversight. In America, tokens that act like funky derivatives or mutual funds are best overseen by the Commodity Futures Trading Commission or Securities and Exchange Commission. Coins that operate like mini banks are better monitored by the Office of the Comptroller of the Currency. (Circle, which issues USDC coins, is now in active discussions with the OCC for precisely this.)

If regulators get involved, they should require stable coin issuers to provide audited, detailed statements about their assets, and impose big reserve requirements. That sounds obvious. But it is notably not what Tether, the largest stablecoin issuer, has done.

Regulators should demand that crypto exchanges uphold basic listing standards.

And finally, clarity is urgently needed around custody, given that the exchanges are not just acting as platforms for cutting deals, but often holding customers' assets as well. This oft-ignored concentration of power makes a mockery of the decentralisation mantra that supposedly drives the crypto dream (and, as I recently noted, is just one contradiction in this sector's creation mythology.) But it also creates a practical risk: failure could spark market panic. Some small non-US jurisdictions have custody rules that protect investors if an exchange goes bankrupt.
Not so on a federal level in America, as Coinbase executives were forced to admit to investors last week. This definitely needs to change.

[Armagh18]

Crypto isn't scalable in a world of climate change

https://www.ft.com/content/446e0e6a-6858-4e33-a6cf-8c2e302dc75d

According to a New York Times analysis, bitcoin mining uses 0.5 per cent of all the world's electricity. That's seven times more than that used by all of Google's global operations. There is also a growing e-waste problem: a recent study by researchers from MIT and the Dutch central bank estimated that the waste produced by every single bitcoin transaction — there are usually about 300,000 each day — is equivalent to that of two iPhones, due to the short lifespans of the mining hardware

Holy feck.

[bennydorano]

Another attack? Dropping again - Ethereum related tokens

[screenexile]

BTC Tanking lads... buy the dip!!

[bennydorano]

The game is up

[Milltown Row2]

BTC Tanking lads... buy the dip!!

It's like a big  pyramid scheme scam.. All those that got in at the start are still winning I'd say... well he said


Is investing in Bitcoin a pyramid scheme?
"But if you look beyond the hype, you'll find nothing more than a pyramid scheme posing as currency." He criticizes the way cryptocurrencies are sold to budding investors. "Since cryptocurrencies are too volatile to be used as an actual currency, people treat it as a sort of investment scheme,

[Smokin Joe]

It's pretty simple lads, Bitcoin is viewed as a risk-on asset by the market.  And with the current macro conditions all risk-on assets are getting destroyed.  Bitcoin is the currently the most volatile (to both the upside and downside) of the risk-on assets.
That's it, as far as Bitcoin is concerned.

Other crypto type stuff, including defi is a sharkpit with companies trying to make a profit wherever they can.  Bitcoin is different.
I'm holding on a little bit longer (I haven't been buying the dip just yet) and will certainly buy some more BTC at what I think are really low prices.  I think the economy will tank so much, just look at 2 and 10 year US Treasury rates today that the Fed will have to turn dovish in a little while and we'll be back to a risk-on environment.

EDIT - I'm not aftermining this now.  Look at what I posted here in May on this thread a few pages back: http://gaaboard.com/board/index.php?topic=28150.msg2122683#msg2122683

[Mikhail Prokhorov]

It's pretty simple lads, Bitcoin is viewed as a risk-on asset by the market.  And with the current macro conditions all risk-on assets are getting destroyed.  Bitcoin is the currently the most volatile (to both the upside and downside) of the risk-on assets.
That's it, as far as Bitcoin is concerned.

Other crypto type stuff, including defi is a sharkpit with companies trying to make a profit wherever they can.  Bitcoin is different.
I'm holding on a little bit longer (I haven't been buying the dip just yet) and will certainly buy some more BTC at what I think are really low prices.  I think the economy will tank so much, just look at 2 and 10 year US Treasury rates today that the Fed will have to turn dovish in a little while and we'll be back to a risk-on environment.

EDIT - I'm not aftermining this now.  Look at what I posted here in May on this thread a few pages back: http://gaaboard.com/board/index.php?topic=28150.msg2122683#msg2122683

concur, bitcoin is a digital property asset that will replace gold at the standard inflation hedge

it can be moved anywhere in the world in seconds which gives it a significant advantage over gold

10k would be a good price to get in imo if you haven't already 

[marty34]

I see a lad in north has lost his life savings, 6 figure, in a complex crypto scam.

[clarshack]

I see a lad in north has lost his life savings, 6 figure, in a complex crypto scam.

https://www.bbc.co.uk/news/uk-northern-ireland-61789747

if you trade crypto you will get lucky a few times but you will lose out more often than not whether you trade yourself or especially having some dodgy company doing it for you. imo best strategy is to pick a few coins stick them on a ledger nano (so that you are in control of your crypto) and hodl until the market recovers. It sounds like this guy got greedy tbh.

[Main Street]

It's pretty simple lads, Bitcoin is viewed as a risk-on asset by the market.  And with the current macro conditions all risk-on assets are getting destroyed.  Bitcoin is the currently the most volatile (to both the upside and downside) of the risk-on assets.
That's it, as far as Bitcoin is concerned.

Other crypto type stuff, including defi is a sharkpit with companies trying to make a profit wherever they can.  Bitcoin is different.
I'm holding on a little bit longer (I haven't been buying the dip just yet) and will certainly buy some more BTC at what I think are really low prices.  I think the economy will tank so much, just look at 2 and 10 year US Treasury rates today that the Fed will have to turn dovish in a little while and we'll be back to a risk-on environment.

EDIT - I'm not aftermining this now.  Look at what I posted here in May on this thread a few pages back: http://gaaboard.com/board/index.php?topic=28150.msg2122683#msg2122683

concur, bitcoin is a digital property asset that will replace gold at the standard inflation hedge

it can be moved anywhere in the world in seconds which gives it a significant advantage over gold

10k would be a good price to get in imo if you haven't already 

I'd say what you both are talking about is a speculative investment, that's definitely not a replacement hedge against inflation.
Why has bitcoin not acted like it was claimed to do  n these times instead of the big dip?
In inflationary times what is needed is a hedge item of relatively constant value where currencies decrease in value around that inflation hedge. Has gold risen in actual value this past year or have currencies decreased in value?
Just asking like?

[rosnarun]

I see a lad in north has lost his life savings, 6 figure, in a complex crypto scam.

anyone follow the OneCoin scam. they reckon it could end up being the biggest scam ever and no often howoften people are told its a Busted Scam they still find New investors.
I get i little worried by this thread when i see Poster with a handful of post all on this Subject.
Cyrpto currency is the Tupperware or herbal life for the new generation. pretty new Dress but same scam

[trailer]

I put a few £ into this. Took some profit initially but am down I'd say £2k.
It is a complete nonsense. None of the projects do anything. Etherium, Cardano, Luna, Tezos, Enjin, Dogecoin etc etc all Ponzi shite. I sort of get the idea behind bitcoin as digital gold but it is difficult to see it as something that'll be adopted by the masses.
All the coins rise and fall based on Bitcoin which says everything. I'll hold until the thing rebounds probably a few years and am not to worried.

Anyone who talks about this in any sort of serious way to you, you should stop immediately and get them professional help.

[CiKe]

It's pretty simple lads, Bitcoin is viewed as a risk-on asset by the market.  And with the current macro conditions all risk-on assets are getting destroyed.  Bitcoin is the currently the most volatile (to both the upside and downside) of the risk-on assets.
That's it, as far as Bitcoin is concerned.

Other crypto type stuff, including defi is a sharkpit with companies trying to make a profit wherever they can.  Bitcoin is different.
I'm holding on a little bit longer (I haven't been buying the dip just yet) and will certainly buy some more BTC at what I think are really low prices.  I think the economy will tank so much, just look at 2 and 10 year US Treasury rates today that the Fed will have to turn dovish in a little while and we'll be back to a risk-on environment.

EDIT - I'm not aftermining this now.  Look at what I posted here in May on this thread a few pages back: http://gaaboard.com/board/index.php?topic=28150.msg2122683#msg2122683

concur, bitcoin is a digital property asset that will replace gold at the standard inflation hedge

it can be moved anywhere in the world in seconds which gives it a significant advantage over gold

10k would be a good price to get in imo if you haven't already 

I'd say what you both are talking about is a speculative investment, that's definitely not a replacement hedge against inflation.
Why has bitcoin not acted like it was claimed to do  n these times instead of the big dip?
In inflationary times what is needed is a hedge item of relatively constant value where currencies decrease in value around that inflation hedge. Has gold risen in actual value this past year or have currencies decreased in value?
Just asking like?

I thought this thread was quite good on discussing whether BTC is an inflation hedge or speculative investment.

https://twitter.com/Suitpossum/status/1536330065599922176?t=Gk_Bi7EnJuEYh-JtlGhXog&s=08

[seafoid]

   https://www.ft.com/content/60a8a0ad-3946-4aeb-a0f5-f32a1b3d2637

   The crypto market has come under strain following months of declines in its biggest coins, shrinking the value of the market from a high of $3.2tn in November to just under $1tn.