Is anyone else starting to become a bit worried? mod note in first post

sexmag

Irish man (20) facing more than 100 years in US prison for alleged $2.5m cryptocurrency fraud

https://m.independent.ie/irish-news/news/irish-man-20-facing-more-than-100-years-in-us-prison-for-alleged-2-5m-cryptocurrency-fraud-38098424.html

crushproof

sexmag wrote: »

Irish man (20) facing more than 100 years in US prison for alleged $2.5m cryptocurrency fraud

https://m.independent.ie/irish-news/news/irish-man-20-facing-more-than-100-years-in-us-prison-for-alleged-2-5m-cryptocurrency-fraud-38098424.html

To say he is royally screwed is an understatement! Would not like to be in his shoes right now, foolish chap!

tcawley29

crushproof wrote: »

To say he is royally screwed is an understatement! Would not like to be in his shoes right now, foolish chap!

Good enough for him. No time for thieves

crushproof

Very nice jump for BAT today, no idea if any news or not.

lawred2

sexmag wrote: »

Irish man (20) facing more than 100 years in US prison for alleged $2.5m cryptocurrency fraud

https://m.independent.ie/irish-news/news/irish-man-20-facing-more-than-100-years-in-us-prison-for-alleged-2-5m-cryptocurrency-fraud-38098424.html

Harsh.. garlic man got a few years for deliberate tax evasion of 3 times that

They don't mess about with that stuff in the states

Bobeagleburger

Heading for 7k

kerplun k

Can anyone help me out here and give me some advise? So I have X amount of BTC and alt coins. Normally I’ve just been trying to buy in dips using Coinbase and holding.

I noticed Coinbase allows me to convert for free, so I was going to wait for what I think will be peak, and then transfer everything to a stable coin like USDcoin for free, then wait for drop and repurchase BTC, etc.

Is this a silly idea? Or does it seem okay.

Arrival

I CAN'T WAIT to laugh about all the doubters who just constantly talked **** about BTC continue to not acknowledge that they were wrong during the next bull run which IS 100% coming within the next 1.5-2 years. All you losers do is come online and try to explain how it is the next tulip mania and act like you're proving a point to people who don't care about your opinion instead of actually dedicating that time to informing yourself and putting a bit of money you can afford to possibly lose and seeing where it takes you along with the rest of us.

To everyone else who held throughout this last horrible bear market for the past couple of years, let's ****ing have it!!!

Blueshoe

Arrival wrote: »

I CAN'T WAIT to laugh about all the doubters who just constantly talked **** about BTC continue to not acknowledge that they were wrong during the next bull run which IS 100% coming within the next 1.5-2 years. All you losers do is come online and try to explain how it is the next tulip mania and act like you're proving a point to people who don't care about your opinion instead of actually dedicating that time to informing yourself and putting a bit of money you can afford to possibly lose and seeing where it takes you along with the rest of us.

To everyone else who held throughout this last horrible bear market for the past couple of years, let's ****ing have it!!!

That's the kind of talk that could back fire on someone. Especially in this unpredictable manipulated **** fest

Grumpypants

It will crash again. From 100+k back down to 25k and they will all be back telling us how we were suckers for getting nto a pyramid scheme.

Well, do you all still think Bitcoin is the future of money, about to take out the banks, or is it a speculative asset?

Have people been using it to buy stuff?

Blueshoe

[Deleted User] wrote: »

Well, do you all still think Bitcoin is the future of money, about to take out the banks, or is it a speculative asset?

Have people been using it to buy stuff?

Nobody is buying anything. All holding and hoping.
If it rises high again some people will cash out a profit while the majority will hold on a little bit too long due to greed and end up watching it sink again.
It's like the stock market at X10 speed

makeorbrake

Deleted User wrote: »

Well, do you all still think Bitcoin is the future of money, about to take out the banks, or is it a speculative asset?

Have people been using it to buy stuff?

Cryptocurrency is the future of money, yes. Sweden is probably the closest to going cashless and coming out with a central bank digital currency (CBDC). Facebook are launching their own crypto in Q3, 2019. JP Morgan have created their own crypto.
Where Bitcoin lies in the context of all of that remains to be seen. I don't have any time for centralised shítcoins but one of the side effects may be to condition people and educate people on the use of a digital wallet and a digital currency. This will empower them to venture into other cryptos should they have an interest.

As regards 'about to take out the banks' - I'm not sure if anyone ever made that claim on this thread. This will be a two track thing. There will be people who are comfortable with maintaining custody of their own crypto. There will be many who won't be comfortable with that. For the latter, banking will pivot to facilitate custody of both crypto and FIAT in the one account. There are already a couple of examples of this in Europe.

Banks aren't going anywhere. However, they may have to change their ways somewhat in the longer term. Personally, as long as people have the option of using them rather than having to use them, I'm happy. People deserve financial freedom when it comes to their own money. All this aml/kyc bs is a ruse for financial surveillance. The world will not collapse without it but peoples lives will improve (not having to be subject to it).

Is it a speculative asset? Of course it is. My expectation is that over time - as it goes through the process of price discovery, as market capitalisation broadens - volatility will fall away to a level that you'd expect with conventional assets. That's not going to be a fast process but it's already been happening as crazy as you may find BTC volatility to be.

As regards purely monetary transactional use, it remains minimal. The argument goes that people feel its done nothing and it will do nothing as it would have done it by now if it could. The other side of the argument is that the ecosystem is still being built and the technology is still being built (eg. lightning network). There's disagreement on whether BTC is best positioned in that regard within crypto circles - nevermind, outside of those circles. We will have to see how that develops.

As regards store of value use case, it is slowly proving to be digital gold. Many will agree and many will disagree. The point will be made as regards how can that be the case with the volatility but again, you can't expect something (as in decentralised digital asset) to come into this sector and not be volatile until it finds it feet and truly establishes itself.

That's Bitcoin and that's a consideration of transactional money or store of value use cases. There are other cryptos that have found use cases for a whole host of stuff across a whole host of industries. Most still in trial/pilot phase but many initial real world usages are up and running too. And strangely, it seems that even Bitcoin could have a role to play there too through secondary layer...but all of that remains to be seen.

Arrival

Grumpypants wrote: »

It will crash again. From 100+k back down to 25k and they will all be back telling us how we were suckers for getting nto a pyramid scheme.

Spot on. People like that are pretty sad. Just stand on the sidelines shouting "you're wrong" and deriving some kind of weird temporary pleasure by saying "tOlD yOu So" during the crashes and corrections -- which most people who've invested money acknowledge can, and most probably will occur again and again -- and then shutting up during the bull runs when those with actual skin in the game are in positions to change their financial lives completely. I pity them like, there are way better ways to spend your free time. Fair enough if you don't believe in the technology and use it and think it's a scam or whatever, but leave it at that, go away and stop wasting your breath just for the chance to be able to feebly say you were right (temporarily) during the crashes.

grindle

Deleted User wrote: »

Have people been using it to buy stuff?

Used BCH to buy a subscription last night. Basically gave me a 45% discount after CGT is considered because I bought the BCH in January. Handy out.

grindle

grindle wrote: »

Used BCH to buy a subscription last night. Basically gave me a 45% discount after CGT is considered because I bought the BCH in January. Handy out.

Does it make sense to spend it on anything at the start of the bull run?

cnocbui

If the bull run amounts to less than a 45% increase, it certainly does. Another way to look at it is cashing out to bank some profit, though the amount 'spent' here is probably trivial.

grindle

Deleted User wrote: »

Does it make sense to spend it on anything at the start of the bull run?

Replaced what I spent with fiat, don't worry. Just using it so I wasn't leaving any real details with some website I wouldn't trust with my scrote flakes (that's normal, right?).

Do the same any time I'm buying beer or...beer in Amsterdam.

cnocbui wrote: »

If the bull run amounts to less than a 45% increase, it certainly does. Another way to look at it is cashing out to bank some profit, though the amount 'spent' here is probably trivial.

Exactly. Would've been a 63% discount ignoring CGT but the subscription was only worth $100 so I bought the sub and sold $50 worth to withdraw for the tax porpoises. Out of the cryptos they accept BCH had increased the most out of what I had - it amounted to a hefty discount & I could sub from a dummy email so it made sense.

q85dw7osi4lebg

BTC $7250 how on earth

Arrival

As delighted as I am to see the price increasing, it's worrying how quickly it's going. Nice, gradual growth is always better to avoid mass irrationality

el diablo

Arrival wrote: »

As delighted as I am to see the price increasing, it's worrying how quickly it's going. Nice, gradual growth is always better to avoid mass irrationality

Yeah, it's all moving too fast. I'd prefer if we had slow, sustainable growth while building support along the way. Otherwise we'll have more 80%+ crashes in the future.

cnocbui

I'll take what I can get.

q85dw7osi4lebg

A great day for the parish.

Pintman Paddy Losty

Anyone know what has caused this spike?

Think it has something to do with the 800m tethers created in the last couple of weeks?

Dohnjoe

Pintman Paddy Losty wrote: »

Anyone know what has caused this spike?

Think it has something to do with the 800m tethers created in the last couple of weeks?

The largest exchange was hacked, shortly before that Tether admitted it's now only 74% backed and another large exchange is under investigation in conjunction with that - that's all bad news

The rise seems to be due to a positive outlook for BTC, Fidelity, one of the world's largest asset managers is apparently due to offer BTC custody in a few weeks, they will be targeting only institutional investors (a study released by Fidelity indicate around half of institutional clients are interested in digital assets directly (72% interested in products that contain digital assets)

There have been hints that the BTC ETF will be accepted (eventually). Bakkt is still in the pipelines. "Positivity" on the horizon tends to push prices up in a purely speculation psychological market like this

SteelyDanJalapeno

Dohnjoe wrote: »

The largest exchange was hacked, shortly before that Tether admitted it's now only 74% backed and another large exchange is under investigation in conjunction with that - that's all bad news

The rise seems to be due to a positive outlook for BTC, Fidelity, one of the world's largest asset managers is apparently due to offer BTC custody in a few weeks, they will be targeting only institutional investors (a study released by Fidelity indicate around half of institutional clients are interested in digital assets directly (72% interested in products that contain digital assets)

There have been hints that the BTC ETF will be accepted (eventually). Bakkt is still in the pipelines. "Positivity" on the horizon tends to push prices up in a purely speculation psychological market like this

I do appreciate your genuine reply to Paddy, but he's probably baiting

Dohnjoe

SteelyDanJalapeno wrote: »

I do appreciate your genuine reply to Paddy, but he's probably baiting

Or considering putting cash in "for the laugh to trade some ****coins"

Pintman Paddy Losty

Lads. Take the gains you can while the market is artificially inflated. There'll be another correction soon enough I'd say.

Dohnjoe

Pintman Paddy Losty wrote: »

Lads. Take the gains you can while the market is artificially inflated. There'll be another correction soon enough I'd say.

Quite possibly. Short it if you are confident.

Dohnjoe

Market crashes over a year after insane bull "it's going to zero"

Market goes up over 100% since Xmas, some top coins up 200% to 400% - silence

Market drops 10% or 15% - "get out while you can"