Bitcoin Thread

Status
Not open for further replies.
Slootvreter said:
What is this summit about and what is it's relevance? There's always something. Chinese new year, G20 summit, futures, whatever.
Click to expand...

It's actually quite an important one focused on regulation.

http://www.cityam.com/282465/world-leaders-discuss-cryptocurrency-crackdown-weeks-g20

Finance ministers and central bankers from around the world will discuss new regulations for cryptocurrencies at this week's G20 summit in Buenos Aires.

The discussion comes amid concerns that digital currencies are fuelling money laundering and other criminal activity.

Thomas Hulme, a solicitor at London law firm Mackrell Turner Garrett, said that policymakers are likely to focus their discussions on anti-money laundering and consumer protection issues.

These could include regulatory measures such as the UK Financial Conduct Authority's (FCA) decision last week to issue a licence to US crypto exchange Coinbase.

Coinbase's e-money licence from the FCA was an endorsement that its business meets certain anti-money laundering and processing standards.

"In the last month, there have been several examples of government and regulatory actions towards cryptocurrencies. This shows acknowledgement that cryptocurrencies and blockchain have a potential to be used in a positive and productive way but also that the illegal activity within cryptocurrencies needs to be addressed," Hulme said.

Michael Harris, director of financial crime compliance at Lexis Nexis Risk Solutions, added that the regulation of cryptocurrencies will present many challenges, and there will "likely be jurisdictional differences within the G20 countries' regulations, and those outside of the G20 too".

“No single entity has tried to define regulation of this purely digital ecosystem, and it is unclear how this will be undertaken," Harris said.

"Governments will be looking for a way to align regulation as much as possible. Unless there is uniformity of regulation on a global basis, even at a high level, businesses will struggle to manage the continuing financial crime risk coming from customers’ cryptocurrency investments."

Last week, bitcoin tumbled below $8,000 (£5,700) after Google announced it would crack down on cryptocurrency and initial coin offering (ICO) advertisements, following a move by Facebook in January to do the same.

The digital currency's price was down 5.75 per cent at $7,409.83 at the time of writing.
Click to expand...
 
I guess this is what's known as a short squeeze. We went from 7.5k to 8.3k in just over an hour. People keep shorting but the price keeps going up and they are forced to buy to cut losses which pushes up the price further and more people short etc.
 
GoB said:
90% of traders lose money
Click to expand...
Many of those are:

1.) Day traders riding percentage points so small they lose money in the long run
2.) Employed / freelance traders who are under pressure to perform and make gains for other people
3.) Traders who don't stick to a few basic rules of the trade, especially when markets get volatile.
 
biometrics said:
I predicted $1,000 in April but it may take a bit longer, definitely this year.
Click to expand...

$20K by the end of 2018, and $50K by the end of 2019. I'm hodling. If you truly believe that it will go to $1K this year then I assume you are shorting.
 
GoB said:
90% of traders lose money
Click to expand...

Take the time to learn properly and stick to principles without just jumping into trades and you'll be part of the 10% taking the 90%'s money. Even if you don't actively trade though, you can get a sense of what is expected and not panic when you suddenly see the market going down.
 
GoB said:
90% of traders lose money
Click to expand...

of-course they do because on the other side is a winner....

if everyone is a winner there would be no market.

but above all the TA, FA and chart painting - what most lack is patience. every newbie trader thinks its easy to get rich quick, and they get whipsawed till their accounts are empty.
 
Last edited:
Slootvreter said:
Made more than 4 times profit that I put in, that which I am left HOLDING is still more than my initial input. If it tripples again, nice. If it doesn't, no biggie. It wasn't debt, or bond, or college fund I put in to start with.

Besides, VEN has been better to me than BTC.
Click to expand...
I bought VEN in October, and sold in November. My second regret. Good thing you're still holding.
 
*SynergyX* said:
of-course they do because on the other side is a winner....

if everyone is a winner there would be no market.

but above all the TA, FA and chart painting - what most lack is patience. every newbie trader thinks its easy to get rich quick, and they get whipsawed till their accounts are empty.
Click to expand...

Yeah patience is king. I remember when I first started trading. The price was about R112k back then in early November. Made a few trades and 3 days later we dropped to R80k. My last buy was at R111k and I just held for 4 days whilst the price recovered instead of panic selling and taking a massive loss.
 
Looks like an inverted head and shoulder pattern forming over the last 6 hours. So the tea leaves say sideways between 8.2k and 8.3k for another couple hours and then liftoff.
 
SaiyanZ said:
Looks like an inverted head and shoulder pattern forming over the last 6 hours. So the tea leaves say sideways between 8.2k and 8.3k for another couple hours and then liftoff.
Click to expand...

Nahh. There is an upcoming Songkran New Year. And probably many other events. Like Gulf coast open championship, Wrestlemania, perhaps a new mister Bean movie. BTC will only pick up around July/August.
 
johnnyenglish said:
Nahh. There is an upcoming Songkran New Year. And probably many other events. Like Gulf coast open championship, Wrestlemania, perhaps a new mister Bean movie. BTC will only pick up around July/August.
Click to expand...

Nah SummerSlam is around then, will only be after that
 
damn my greed again, had a big buy order just slightly lower than the point it took off from. Dammit I even saw this jump coming - well not nearly this quickly though.
 
Last edited:
wowzer ---- volume out the wazoooo 1000 coin orders

shorts getting rekt

/moon soon :crylaugh:
 
Last edited:
Status
Not open for further replies.
Back
Top
Sign up to the MyBroadband newsletter
X