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Bitcoin Thread
- Thread starter Dan C
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Fulcrum29
Honorary Master
The only exchange I have ever had issues with was LocalBitcoins. Not going into it here, but basically I have an unrecoverable account.
For those who still have crypto on there, you have 12 months.
For those who still have crypto on there, you have 12 months.
SauRoNZA
Honorary Master
US Banking Giant BNY Mellon Says Cryptocurrency is Here to Stay
US Banking giant BNY Mellon has stated their belief that cryptocurrency is here to stay, based on a survey of institutional investors
watcher.guru
Fulcrum29
Honorary Master
US Banking Giant BNY Mellon Says Cryptocurrency is Here to Stay
US Banking giant BNY Mellon has stated their belief that cryptocurrency is here to stay, based on a survey of institutional investors
Crypto is gaining momentum, but better regulation is still necessitated.
https://www.coindesk.com/policy/202...ion-sues-kraken-over-crypto-staking-services/
I wonder what they were doing to protect investors from FTX, Celsius and other failed institutions... But hey, atleast people are safe from Kraken
I wonder what they were doing to protect investors from FTX, Celsius and other failed institutions... But hey, atleast people are safe from Kraken
Agent_Smith
Honorary Master
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And now...?
Buy?
Wouldn't dare say because I am so often wrong. I AM surprised at the strength of the fall-out of the Silvergate thing and now the heavy selling today. If this were a shytecoin I would strongly suspect manipulation.Buy?
Isn't the main selling point that it's not regulated?
what's the point of crypto if it's regulated.
Fulcrum29
Honorary Master
What is crypto’s selling point, its use case or being speculative?
Mostly speculation, but that can't last forever.
As far as use cases go, the main area where crypto beats the existing financial system is evading exchange controls, dodging taxes, demanding ransom, buying drugs etc. Everything else is generally better done with banks.
So regulating it really kills the main use cases.
Fulcrum29
Honorary Master
Those are the use cases viewed by the privacy advocates. Most people have no idea about crypto's application in the 'real' world. Just as much as most people can only see ETH and BTC, and whichever other crypto turned scandal. It remains a very accessible exploitative market without proper regulation.
Silvergate collapse, Kucoin being sued by New york AG, bad macro, DOJ allegedly selling thousands of seized btc, mtgox monthly fud, Biden proposing 30% mining tax... US going guns blazing, all in the name of protecting consumers
So our favourite multi billion hedge funds/institutions can join the party and finally show retail what being dumped on really means
SauRoNZA
Honorary Master
Crypto will never work in the mass market without regulation.
It needs to happen to have legitimacy.
Don't forget protecting Wall Street and the big banks.Silvergate collapse, Kucoin being sued by New york AG, bad macro, DOJ allegedly selling thousands of seized btc, mtgox monthly fud, Biden proposing 30% mining tax... US going guns blazing, all in the name of protecting consumers
IMO crypto in the sense of cryptocurrencies will remain a marginal use (almost like store cards) with or without regulation. Regulation would certainly make public use and acceptance of cryptocurrencies more widespread but that still isn't enough. Who knows, Dogecoin might become te payment method for purcahsing dogs and pet products - at least it would have a use tied to something more real than Musk's Tweets.
Blockchain technology already shows use cases that are mostly behind the scenes. The ethereum platform might make the grade, but bitcoin is, again IMO, destined for an existence as a speculative asset.
Blockchain technology already shows use cases that are mostly behind the scenes. The ethereum platform might make the grade, but bitcoin is, again IMO, destined for an existence as a speculative asset.
Fulcrum29
Honorary Master
There are so many currencies which have exceeded Bitcoin. Zelcoin which was forked from Bitcoin that later became Flux, is a phenomenal project and very much undervalued, but they are committed to slowly building their platform. I am in the view that Flux has some security concerns they need to iron out. This is one example coming from Bitcoin, but there are many others with proper use cases which are largely VC funded. I am a huge backer of Kadena because I believe in its trajectory of success. Fantom is growing well, Cardano needs to gain momentum, but is all competition to Ethereum.
If you look at what will displace Bitcoin from a true use perspective, then Kaspa has all the hallmarks for it, and it competes with both Ethereum and Kadena. Then also the newcomer, Nexa, which is likely to succeed Bitcoin Cash and is the baby of Bitcoin Unlimited, and also being a competitor to Kaspa.
To touch base with all other projects will take me many posts.
At the end, there is so much cash pumped into Bitcoin and Ethereum that I don't think that they will be toppled any time soon. Bitcoin needs innovation to survive in the long-term. The same is applicable to Ethereum which rely on layer solutions for meeting demands.
Fulcrum29
Honorary Master
Stablecoin depegging happens, but the movements happening now are dangerous. A certain stablecoin has trust issues... I am sure that it will stabilise, but people should watch when they trade under the conditions.
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