Bitcoin Thread

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L-Dog said:
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Bulls4it. They FSCA just don't want us having control over our own money and what we do with it. After Coinbase, Binance is the most reliable crypto exchange there is. Exchanges that are compliant with the FSCA are obliged to hand over any information about SA citizens uses their services to SARS and the FCSA. That's their agenda.
 
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Seriously guys, its a warning thats all. TLDR its not registered with the FSCA and if you lose your money its your problem. Pretty much like all things crypto related....

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Snyper564 said:
Seriously guys, its a warning thats all. TLDR its not registered with the FSCA and if you lose your money its your problem. Pretty much like all things crypto related....

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The FSCA has never helped anyone who has lost money in the Financial sector with registered companies so why should people care...
 
SA gov is just parroting the UK, it seems the FSCA is trying to seem proactive yet the FSCA had no issue taking their sweet fking time to get involved at all in MTI drama until it imploded.

I find it remarkable all the pressure being put on Binance all of a sudden yet ponzi scheme after ponzi scheme pop up , strip idiots of all their money and then vanish before the FSCA do any sort of work.

Useless organization.
 
The FSCA received information that BINANCE GROUP, an international company situated in the Seychelles which has a telegram group that members of the South African public can join to gain access to their cryptocurrency exchange platform.
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lol what? They need to check their information. They making Binance seem like some kind of shaddy company where you have to join their telegram first to gain access. Meanwhile Binance is one of the biggest, most trusted exchanges.
 
dsi said:
lol what? They need to check their information. They making Binance seem like some kind of shaddy company where you have to join their telegram first to gain access. Meanwhile Binance is one of the biggest, most trusted exchanges.
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Ye, that baffled me as well.

Not sure if the FSCA were made aware of some scam operating as if they are binance then directing people to their telegram group where they have a bot that steals actual binance login details.

If thats not the case this just shows how little investigation the FSCA actual do when they report on things, looks pathetic at best.
 
John Tempus said:
Ye, that baffled me as well.

Not sure if the FSCA were made aware of some scam operating as if they are binance then directing people to their telegram group where they have a bot that steals actual binance login details.

If thats not the case this just shows how little investigation the FSCA actual do when they report on things, looks pathetic at best.
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I think this just illustrates a lack of understanding by local authorities on the crypto space. The FSCA is probably aware many South Africans use Binance, but I think whoever wrote that report did some quick investigation, saw Binance was registered in the Seychelles, and that they have a community Telegram group and this was confirmation enough that it was a risky company. Any boomber, or newbie to crypto reading that report would think it's a scam company by the way it's worded.
 
dsi said:
Any boomber, or newbie to crypto reading that report would think it's a scam company by the way it's worded.
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Exactly, just scare tactics to keep the pleb sheep in line. Never mind that Binance has 10x the trading volume of our JSE, Africa's biggest stock exchange.
 
Dylan_G said:
We buy now? Is that how this works?
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Depends if this is a trend reversal or fake out. The dip got bought up pretty quickly. Probably best to average in, incase it goes lower.
 
For a "decentralized" system its seems pretty easy to manipulate the price of the bitcoin
 
L-Dog said:
For a "decentralized" system its seems pretty easy to manipulate the price of the bitcoin
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Not sure what you mean. The whole point of a decentralised system is to ensure the market regulates itself without intervention. There was a massive sell off which drove the price down (simple economics) so it’s working as it should. Bitcoin is nearly worth a trillion dollars in market cap so when whales sell, the market will follow suit. The same would happen in the traditional stock exchanges so what’s your point?
 
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