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

Dohnjoe

Lex Luthor wrote: »

Not verified so waiting to hear back
My account ok

Market hasn't moved, zero news on this.

q85dw7osi4lebg

Checked the 10 year US Treasury yield and bought some Bitcoin for breakfast.

Lex Luthor

Dohnjoe wrote: »

Market hasn't moved, zero news on this.

ya nothing extra on it from my source...

he's sacked

rapul

Hmm I see Link has frozen on coinbase, over 11 euro on Binance but stuck at 9.99 on the former, was looking to swap some around but can't!

rapul

rapul wrote: »

Hmm I see Link has frozen on coinbase, over 11 euro on Binance but stuck at 9.99 on the former, was looking to swap some around but can't!

Never mind back on!

KilOit

rapul wrote: »

Never mind back on!

Yeah that was weird, had link selling for .031 ETH then coinbase cancelled it and i put it back up for .035 ETH and sold before the dip

Lex Luthor

Think I seen something yesterday that coinbase has zero supply of Chainlink

Stormington

Lex Luthor wrote: »

Think I seen something yesterday that coinbase has zero supply of Chainlink

Not heard that, but if they have to market buy to meet demand they'll do what they can to push the price back down before filling up. Makes sense if demand in the US rocket has rocketed.

I had heard Binance were running low on Tezos due to payments on staking (overdelegated).

https://twitter.com/xdcdreamz87/status/1292400562760228864

Thelonious

It looks like bitcon is stalling out short of resistance at 12k .

Lex Luthor

Grayscale have ads running on mainstream media in the US next week about Bitcoin

It could start another buying spree

Lex Luthor

It’s just too risky taking any profits at moment from Chainlink

Swipe native token SXP had a decent weekend

Stormington

Lex Luthor wrote: »

It’s just too risky taking any profits at moment from Chainlink

I think there's two weeks of choppy waters as it ranges Then it will move again. Probably after Dave Portnoy figures out how to buy it.

Tango One

Lex Luthor wrote: »

It’s just too risky taking any profits at moment from Chainlink

Swipe native token SXP had a decent weekend

Good call on SXP I dump SNX for them hope I don't regret it.

maninasia

Tango One wrote: »

Good call on SXP I dump SNX for them hope I don't regret it.

I would buy back some SNX, they are one of the most promising of all cryptocurrency platforms .:cool:

Tango One

maninasia wrote: »

I would buy back some SNX, they are one of the most promising of all cryptocurrency platforms .:cool:

It was actually you who got me on to SNX, I'm having seller's regret, it's still on a nice run

el diablo

No, a quantum computer won't instantly reward you with 69,000 Bitcoins ... yet

https://cointelegraph.com/news/no-a-quantum-computer-won-t-instantly-reward-you-with-69-000-bitcoins-yet

stockshares

Kucoin hacked

https://www.coindesk.com/hackers-drain-kucoin-crypto-exchanges-funds

Lex Luthor

stockshares wrote: »

Kucoin hacked

https://www.coindesk.com/hackers-drain-kucoin-crypto-exchanges-funds

just goes to show you how strong the market is, if this was a bear market right now, the whole space would have tanked after that hack

stockshares

https://www.reuters.com/article/g7-stablecoin-idUSKBN26X26B

Quote
Financial leaders of the world's seven biggest economies will say on Tuesday that they oppose the launch of Facebook's Libra stablecoin until it is properly regulated, a draft G7 statement showed.

Bob24

stockshares wrote: »

https://www.reuters.com/article/g7-stablecoin-idUSKBN26X26B

Quote
Financial leaders of the world's seven biggest economies will say on Tuesday that they oppose the launch of Facebook's Libra stablecoin until it is properly regulated, a draft G7 statement showed.

If they could hold it long enough for a few dozen large corporate entities to have added BTC holdings to their balance sheet, that would be great :-)

Whelo79

Further Axion update from Discord.

@everyone
Certik suspects that the exploit was an inside job on the side of the contract deployment team (Contracts were deployed by RockNBlock)

"the attack was likely planned from the inside, involving an injection of malicious code at the time the code was deployed by altering code from OpenZeppelin dependencies"

All code, besides the altered OpenZeppelin dependencies, is sound. In the github, RockNBlock had imported the correct library but when they deployed, they swapped it out with one that has a backdoor.
The auditors had no way of checking that and must've assumed they would use the real library.

We're unsure whether the entire RockNBlock team was complicit in regards to execution of this exploit or if it was a single rogue member of RockNBlock. We'll be discussing the situation further with them and re-evaluating our plan to move forward. More updates to come.

Reminder, do not buy AXN/HEX2T.

Full details on Certik's findings in this article:
https://cointelegraph.com/news/certik-dissects-the-axion-network-incident-and-subsequent-price-crash

Whelo79

Wow, this is interesting from RockNBlock developers involved with Axion. They have identified the culprit from within their organisation and provided all details.

https://drive.google.com/file/d/1RXCQNOwNUbUQTD34bctcNb29Y-vRTJxU/view

Whelo79

The next steps from the Axion developers.

https://www.docdroid.net/c39ie02/next-steps-for-axion-1-pdf

I have to say I think they are dealing with this excellently so far, with a commitment to try ensure as many people as possible are compensated.

It's amazing that one slimey **** can destroy 10,000 people in a matter of seconds.

el diablo

I've opened an AXION thread for all Axion related stuff.

This thread is getting clogged up with stuff that the vast majority of posters here have no interest in.

Whelo79

el diablo wrote: »

I've opened an AXION thread for all Axion related stuff.

This thread is getting clogged up with stuff that the vast majority of posters here have no interest in.

Clogged up? 3 posts in this one (which hasn't been used for 3 weeks) because people suggested it should no longer be in the 'excited' thread.

I'll keep the updates to myself. A mod can lock the other thread if they wish.

el diablo

Whelo79 wrote: »

Clogged up? 3 posts in this one (which hasn't been used for 3 weeks) because people suggested it should no longer be in the 'excited' thread.

I'll keep the updates to myself. A mod can lock the other thread if they wish.

I assumed all the updates were on the one thread. Anyway, didn't intend to vex you.
I don't see what the issue with a dedicated Axion thread though.

Grumpypants

el diablo wrote: »

I assumed all the updates were on the one thread. Anyway, didn't intend to vex you.
I don't see what the issue with a dedicated Axion thread though.

We can't go making threads for every individual coin. The place would be overblown. Axion is the story this week that's why it's being discussed in the main threads. It will be something else next week.

makeorbrake

Grumpypants wrote: »

We can't go making threads for every individual coin. The place would be overblown. Axion is the story this week that's why it's being discussed in the main threads. It will be something else next week.

I can't see why not. Doesn't cost anything extra, it keeps all
relevant info together... what's not to like?🙃

FFVII

Whelo79 wrote: »

The next steps from the Axion developers.

https://www.docdroid.net/c39ie02/next-steps-for-axion-1-pdf

I have to say I think they are dealing with this excellently so far, with a commitment to try ensure as many people as possible are compensated.

It's amazing that one slimey **** can destroy 10,000 people in a matter of seconds.

Will people lose out??

JohnnyFlash

Whelo79 wrote: »

Clogged up? 3 posts in this one (which hasn't been used for 3 weeks) because people suggested it should no longer be in the 'excited' thread.

I'll keep the updates to myself. A mod can lock the other thread if they wish.

I'm probably not the voice of positivity you wanted, but you did not a thing wrong that others didn't do.

JohnnyFlash

FFVII wrote: »

Will people lose out??

Almost certainly.

grindle

FFVII wrote: »

Will people lose out??

A very good reference to look at here would be Oyster Pearl.

Big hype, hitting $100m+ cap at one point. Dev falls out with rest of team through 2018, tweaks contract to give himself 3m tokens, sells into crowd.

Remaining Oyster Pearl team changes name to Opacity, hopes that faith can be rebuilt and previous heights can be reached again. Current market cap is $636k.

Not saying that'll definitely happen again, but there are many more stories like Oyster Pearl than there are stories where a project tanks and makes it back.

rapul

Think coinbase has just crashed?! Usual shenanigans is it

grindle

There is approx. one month's worth of people who bought at these levels in 2017 when they were newbies and might want to gtfo right now - if they were smart enough to hold.

Or just CB doing it's thang, you can't sell the peak if it's down.

Lex Luthor

grindle wrote: »

There is approx. one month's worth of people who bought at these levels in 2017 when they were newbies and might want to gtfo right now - if they were smart enough to hold.

Or just CB doing it's thang, you can't sell the peak if it's down.

I would imagine a small minority sold back out and made small profits back then, less than 10% I'd say

and the rest, well I'd say most sold up at a loss and there is only about 10% still holding

KilOit

Lex Luthor wrote: »

I would imagine a small minority sold back out and made small profits back then, less than 10% I'd say

and the rest, well I'd say most sold up at a loss and there is only about 10% still holding

Sold my initial investment back at the jan 2018 peak but kicking myself I didn't sell more. Would of took years off my mortgage

Bob24

KilOit wrote: »

Sold my initial investment back at the jan 2018 peak but kicking myself I didn't sell more. Would of took years off my mortgage

Problem with large disposals which would make a massive dent on a mortgage is CGT.

Lets say someone with great foresight bought 10k euros worth of BTC at the beginning of 2017, and wants to sell at the end of the year when their holdings have turned into 150k which will clear their mortgage. The idea of gifting almost 50k to Revenue as part of the transaction kind of makes you think twice about something which might otherwise be a no-brainer :-/

Lex Luthor

Bob24 wrote: »

Problem with large disposals which would make a massive dent on a mortgage is CGT.

Lets say someone with great foresight bought 10k euros worth of BTC at the beginning of 2017, and wants to sell at the end of the year when their holdings have turned into 150k which will clear their mortgage. The idea of gifting almost 50k to Revenue as part of the transaction kind of makes you think twice about something which might otherwise be a no-brainer :-/

I hear you but profit of that much from a 10k investment is unheard of in such a short period

Bob24

Lex Luthor wrote: »

I hear you but profit of that much from a 10k investment is unheard of in such a short period

As I said, definitely agreed that one would have needed great foresight to buy and sell a full allocation exactly at those times. But the figures I am giving are based on the real world exemple of the profits one would have gotten for buying BTC in the first quarter of 2017 and selling their holdings at the beginning of December the same year.

cnocbui

I didn't sell and still have what I bought in 2016 and early '17. Current theoretical profit is around 970%

seannash

What I cant reconcile is massive unemployment worldwide yet people are buying bitcoin.
Its not a phenomenon only prevalent in crypto. The company I'm working for has smashed all sales targets this year. Do people not realize that their jobs may not be returning after Covid?


Is truely a strange time.
I know people will say institutions are now investing, but haven't we always suspected they were anyway.

makeorbrake

seannash wrote: »

What I cant reconcile is massive unemployment worldwide yet people are buying bitcoin.
Its not a phenomenon only prevalent in crypto. The company I'm working for has smashed all sales targets this year. Do people not realize that their jobs may not be returning after Covid?

I came across some stat earlier in the year which demonstrated that there's more disposable income in circulation this year that there was last year. Makes sense - those money printers are red hot!

seannash wrote: »

Is truely a strange time.
I know people will say institutions are now investing, but haven't we always suspected they were anyway.

I'm not sure if they're fully in yet. We've been waiting on them for a few years. I think it's more well heeled renegades that have come over from that world for the moment. The rest will follow.

Bob24

makeorbrake wrote: »

I'm not sure if they're fully in yet. We've been waiting on them for a few years. I think it's more well heeled renegades that have come over from that world for the moment. The rest will follow.

Yes, I believe for now it is only the institutions which are the most agile and not restricted by regulations or prudential rules in terms of what assets they can buy (i.e. we are talking the likes of family offices and some hedge funds). Things like pension funds are a lot more restricted and conservative in their allocations, and probably won’t be jumping in for quite a while.

Whelo79

People who have not lost their jobs have WAY more savings than they had previously, therefore way more money to play around with.

People are unable to go out and blow a few hundred euros weekly on dinners and drinks. People are not friviously spending money on clothes and gadgets that they don't really need.

A lot of people are spending money on new cars, house renovations and others I guess are pumping some money into the crypto market.

There's definitely way more institutional money going into this market than there was in 2017 also.

seannash

Whelo79 wrote: »

People who have not lost their jobs have WAY more savings than they had previously, therefore way more money to play around with.

People are unable to go out and blow a few hundred euros weekly on dinners and drinks. People are not friviously spending money on clothes and gadgets that they don't really need.

A lot of people are spending money on new cars, house renovations and others I guess are pumping some money into the crypto market.

There's definitely way more institutional money going into this market than there was in 2017 also.

I get that but surely with so many being furloughed and made unemployed it would stand to reason people aren't so optimistic about coming out the other side and not going straight into a massive recession

q85dw7osi4lebg

A massive recession right now would be too predictable and there would be too much money to be made IMO.

seannash

Gerald Obedient Manicurist wrote: »

A massive recession right now would be too predictable and there would be too much money to be made IMO.

I'm not sure hat you mean by too predictable

q85dw7osi4lebg

seannash wrote: »

I'm not sure hat you mean by too predictable

By too predictable I mean everyone is somewhat expecting one given Covid and lockdowns. But the stockmarket is doing great, the property market is doing well, vast majority of my acquaintances are also saving more than ever, so when lockdown ends there's money to be spent. Celtic tiger 2.0 on the way (bar for those who lost their jobs obviously - whom I sympathise with).

dxhound2005

The figures do show that savings are increasing during the pandemic. And they doubled between 2014 and 2019. But I wouldn't have a clue how much any of my acquaintances are saving.

seannash

Gerald Obedient Manicurist wrote: »

By too predictable I mean everyone is somewhat expecting one given Covid and lockdowns. But the stockmarket is doing great, the property market is doing well, vast majority of my acquaintances are also saving more than ever, so when lockdown ends there's money to be spent. Celtic tiger 2.0 on the way (bar for those who lost their jobs obviously - whom I sympathise with).

I thought it was widely believed to be on the cards before covid.
I sincerely hope we dont but most economists are saying we are headed or already in an economic recession despite what you say above.
I guess I'm wondering if all this spending is wise due to whats generally considered to be looming on the horizon.


I might be veering off topic here