Is anyone else starting to become a bit excited?

stockshares

Bob24 wrote: »

I’m not always a fan of Zhao, but that is nicely put :-)

I've edited my previous post to show BNB is now on KuCoin

q85dw7osi4lebg

http://waterfordwhispersnews.com/2019/06/19/facebook-launches-own-currency-military-hospitals-schools/

stockshares

Addison Fancy Macrame wrote: »

http://waterfordwhispersnews.com/2019/06/19/facebook-launches-own-currency-military-hospitals-schools/

Great stuff

"
"Me money now” shared a short circuiting Mark Zuckerberg as he announced Libra, and pitched his idea that the company you can’t trust with your data could be trusted with your money."

JJJJNR

makeorbrake wrote: »

Can they get their $50 mil back now that BookFace will be doing remittance transfers for free?

...and sell the transactional details to the highest bidder.

Banks like privacy..

makeorbrake

JJJJNR wrote: »

...and sell the transactional details to the highest bidder.

Banks like privacy..

I don't follow??

JJJJNR

With facebook you are the product, they will share the transactional data without consent, banks won't use it for that reason.

makeorbrake

JJJJNR wrote: »

With facebook you are the product, they will share the transactional data without consent, banks won't use it for that reason.

Banks don't have to. I was referring to Ripple's purchase of Moneygram. Moneygram/Western Union - and for that matter, the full buffet that has been international wire transfer (with it's inefficiencies and ridiculous fees) should be toast.

FB aren't going to be charging fees. The likes of WU and Moneygram charge a shed load. The Remittance market is huge...global remittances expected to be $715 billion in 2019. This usually hits poor people, immigrants sending money home.

I live in a developing country where a lot of people don't have bank accounts. Had reason to pay a couple of people recently - both turned out to be unbanked. There's a service here similar to Western Union. Offices everywhere and pretty convenient. However, it cost 17% to send the money!...and that was for an in-country transfer, no FX involved.

People who are getting screwed with these sorts of services right now won't care about privacy if the alternative is a free transfer.

stockshares

This is big. Russia legalising Crypto
https://beincrypto.com/russia-to-legalize-digital-assets-within-two-weeks-facebook-libra-not-included/

JJJJNR

makeorbrake wrote: »

Banks don't have to. I was referring to Ripple's purchase of Moneygram. Moneygram/Western Union - and for that matter, the full buffet that has been international wire transfer (with it's inefficiencies and ridiculous fees) should be toast.

FB aren't going to be charging fees. The likes of WU and Moneygram charge a shed load. The Remittance market is huge...global remittances expected to be $715 billion in 2019. This usually hits poor people, immigrants sending money home.

I live in a developing country where a lot of people don't have bank accounts. Had reason to pay a couple of people recently - both turned out to be unbanked. There's a service here similar to Western Union. Offices everywhere and pretty convenient. However, it cost 17% to send the money!...and that was for an in-country transfer, no FX involved.

People who are getting screwed with these sorts of services right now won't care about privacy if the alternative is a free transfer.

Ok yeah, but with XRP its fees are minimal also, so I'd say once implemented I for one would use moneygram over FB if given the option.

I'm allowing my hate of FB to take over here, but even still I'm not sure this is good for crypto, I think this throws the cat amongst the pigeons and will end up with a crack down on crypto, the classes know the wealth transfer bitcoin and other crypto currencies can bring and this is an obvious attempt to stop that, only time will tell I guess.

Separately if you were on Facebook does the thought of having a conversation about sending money to someone only to check your phone and see its already done, not freak you out..

Dohnjoe

JJJJNR wrote: »

With facebook you are the product, they will share the transactional data without consent, banks won't use it for that reason.

They won't share personal info, only that which is relevant to the transaction for KYC and AML purposes

makeorbrake

JJJJNR wrote: »

Ok yeah, but with XRP its fees are minimal also, so I'd say once implemented I for one would use moneygram over FB if given the option.

Well, up until the Moneygram deal, XRP were in a different market. They were focusing on bank to bank money movements. It appears that they've been more successful than anyone in establishing partnerships. However, with the advent of JP Coin and other solutions from within the industry, are they getting shut out by the old guard banking mob? I'm setting that out as a question - as I don't follow Ripple that closely and I know there are a few folks here that do and would be better informed.

As regards Moneygram, there fees are far from minimal - they're probably 10% or more. As I mentioned in my post, I used a rival service the other week and they charged 17%...and that didn't involve FX.

They can reduce their costs but Facebook are not even looking to make money on fees. Facebook can make enough cash from holding money that they will wave whatever transaction fee is involved. That means that moneygram is toast. Remember, with that model they have staff and premises.

JJJJNR wrote: »

I'm allowing my hate of FB to take over here

I can't stand facebook - I went years without using it - but have been forced back into using it in recent years in order to participate in a few facebook groups. Even then, I don't access under my own name.

JJJJNR wrote: »

I'm not sure this is good for crypto, I think this throws the cat amongst the pigeons and will end up with a crack down on crypto, the classes know the wealth transfer bitcoin and other crypto currencies can bring and this is an obvious attempt to stop that, only time will tell I guess.

Without a shadow of a doubt. There are all sorts of twists and turns to be taken yet. The crackdown is coming any way - that's beyond doubt.
That would always happen even if FB don't launch. But there are all manner of battle lines opening up here.....between real crypto and central banks and governments, FB and central banks and governments, FB and traditional banking, you name it...grab the pop corn because there's all sorts of outcomes possible with this.

JJJJNR wrote: »

Separately if you were on Facebook does the thought of having a conversation about sending money to someone only to check your phone and see its already done, not freak you out..

I'm not sure what you mean on that one? I think instant online form of payment - peer to peer (ish) is great. If you mean the monitoring and data, of course I dont like that and would use decentralised crypto given the choice. But remember that if you have immigrants that want to send money home as millions of them around the world do every day, then if they get the opportunity to send without cost, they will lap that up (regardless of privacy).

The hope would be as people get accustomed to digital currency and other issues arise (with data privacy, with governments, with controls), some will then filter through to decentralised peer to peer crypto. That may or not pan out that way...we will have to see.

JJJJNR

Dohnjoe wrote: »

They won't share personal info, only that which is relevant to the transaction for KYC and AML purposes

we don't share your data with anyone only the thought police.

Bob24

Dohnjoe wrote: »

They won't share personal info, only that which is relevant to the transaction for KYC and AML purposes

Facebook saying they won’t share/use personal data and then getting caught actually sharing it has happened too many times in the past for me to be able to trust them TBH. They also promised they would never match Facebook identifiers to WhatsApp ones to the European Commission to break that promise a couple of months later. And so on ...

Added to fact even without personal data they will have massive matrix of international payments from which they will be able to gather massive insights, privacy implications are huge.

Dohnjoe

Bob24 wrote: »

Facebook saying they won’t share/use personal data and then getting caught actually sharing it has happened too many times in the past for me to be able to trust them TBH. They also promised they would never match Facebook identifiers to WhatsApp ones to the European Commission to break that promise a couple of months later. And so on ...

Added to fact even without personal data they will have massive matrix of international payments from which they will be able to gather massive insights, privacy implications are huge.

Am aware of the issues, outside of internet hysteria and isolated cases, most people don't care enough for it to matter. Metadata goes to advertisers all the time. It's only when individual information gets abused as policy for political/criminal reasons do people really start to pay attention

Financial info is sensitive, FB have laid out their policies, it's likely they'll have to stick to them. Also FB has to go through a "hurricane" of regulatory scrutiny - the end product might be different from what we know now

From a community that will trust anonymous Russian ICOs, the current sentiment against FB coin is pretty interesting to say the least

Bob24

Dohnjoe wrote: »

From a community that will trust anonymous Russian ICOs, the current sentiment against FB coin is pretty interesting to say the least

People buying into ICOs are going for a very highly speculative and risky bet which they hope will make them a lot of money quickly but they know has a high chance leading to a complete loss in the medium term. Almost everyone knows 99% or more of these coins will end up being useless but people still like to speculate on them which is fair enough.

That is very different from one of the most powerful tech companies in the world coming in with an ambition to introduce their own global money (and with the means to to so).

I think this explain why people look at those two things very differently.

JJJJNR

makeorbrake wrote: »

I'm not sure what you mean on that one? I think instant online form of payment - peer to peer (ish) is great. If you mean the monitoring and data, of course I dont like that and would use decentralised crypto given the choice. But remember that if you have immigrants that want to send money home as millions of them around the world do every day, then if they get the opportunity to send without cost, they will lap that up (regardless of privacy).

The hope would be as people get accustomed to digital currency and other issues arise (with data privacy, with governments, with controls), some will then filter through to decentralised peer to peer crypto. That may or not pan out that way...we will have to see.

I mean when you talk about a product it magically appears in your news feed (put your phone next to a german speaking channel and see what happens) the next step for facebook will be sending money to people via the same algorithm

Dohnjoe wrote: »

Am aware of the issues, outside of internet hysteria and isolated cases, most people don't care enough for it to matter. Metadata goes to advertisers all the time. It's only when individual information gets abused as policy for political/criminal reasons do people really start to pay attention

Financial info is sensitive, FB have laid out their policies, it's likely they'll have to stick to them. Also FB has to go through a "hurricane" of regulatory scrutiny - the end product might be different from what we know now

From a community that will trust anonymous Russian ICOs, the current sentiment against FB coin is pretty interesting to say the least

Its always been the sentiment.

https://www.theverge.com/2019/6/19/18681845/facebook-moderator-interviews-video-trauma-ptsd-cognizant-tampa

makeorbrake

JJJJNR wrote: »

I mean when you talk about a product it magically appears in your news feed (put your phone next to a german speaking channel and see what happens) the next step for facebook will be sending money to people via the same algorithm

Good! Maybe between that and other reasons, those who get disaffected can shuffle across to proper crypto at that point.

People have not been motivated by privacy (to the point of acting on it)....we put up with the intrusion for convenience. However, we are already reaching a minority report stage (chinese and their facial recognition and social scoring - and protesters in hong kong last week going out of their way to try and evade these advanced measures).....it might be enough to get people motivated enough to push back.

stockshares

Bitcoin is the 8th largest currency in the World going by Monetary Base.

https://bitcoinist.com/bitcoin-russia-monetary-base/

q85dw7osi4lebg

Not directly related, but not unrelated either.


https://finance.yahoo.com/news/bank-of-america-brian-moynihan-cashless-society-210717673.html

q85dw7osi4lebg

Damnit

q85dw7osi4lebg

https://www.cnbc.com/2019/06/19/bitcoins-digital-gold-but-facebooks-libra-is-the-digital-dollar.html

Dohnjoe

Addison Fancy Macrame wrote: »

https://www.cnbc.com/2019/06/19/bitcoins-digital-gold-but-facebooks-libra-is-the-digital-dollar.html

The best takeaway from that article

"Facebook shares fell by less than 1% by the end of Wednesday’s trading session amid some political pushback, but are still up more than 3% this week. Bitcoin prices rose by nearly 2% by the end of the day’s trading session and are up 140% for the year to date."

Whatever people think about crypto, the potential gains are highly attractive. Few other assets can match the net performance of BTC and other cryptos over the last 6 years

q85dw7osi4lebg

Dohnjoe wrote: »

The best takeaway from that article

"Facebook shares fell by less than 1% by the end of Wednesday’s trading session amid some political pushback, but are still up more than 3% this week. Bitcoin prices rose by nearly 2% by the end of the day’s trading session and are up 140% for the year to date."

Whatever people think about crypto, the potential gains are highly attractive. Few other assets can match the net performance of BTC and other cryptos over the last 6 years

Yes, great to see a major news site being up front with the gains that can be made in crypto.

Arrival

Dohnjoe wrote: »

Addison Fancy Macrame wrote: »

https://www.cnbc.com/2019/06/19/bitcoins-digital-gold-but-facebooks-libra-is-the-digital-dollar.html

The best takeaway from that article

"Facebook shares fell by less than 1% by the end of Wednesday’s trading session amid some political pushback, but are still up more than 3% this week. Bitcoin prices rose by nearly 2% by the end of the day’s trading session and are up 140% for the year to date."

Whatever people think about crypto, the potential gains are highly attractive. Few other assets can match the net performance of BTC and other cryptos over the last 6 years

But TULIPS!!!

JJJJNR

Here we go! Trump tweets kicking in.

q85dw7osi4lebg

Stacking Satoshis every day now.

When looking back, it could be the best decision of my life, or the worst decision of this year. Good risk / reward IMO.

JJJJNR

Yea buying back in now think I'm over exposed in xlm with recent developments. Stellar is getting hammered.

q85dw7osi4lebg

Playing around on google trends.

Thought this overview of Bitcoin v Brexit searches in Ireland was interesting. I’d have thought brexit would be running away with it.

12 month chart.

grindle

Addison Fancy Macrame wrote: »

Playing around on google trends.

Thought this overview of Bitcoin v Brexit searches in Ireland was interesting. I’d have thought brexit would be running away with it.

12 month chart.

Reality isn't so bad though... Almost hitting the BTC/BRXT Golden Cross.
Bitcoin will surely moon once BRXT dips.

q85dw7osi4lebg

Iceland.....fml


Meanwhile $9500 broken

grindle

Addison Fancy Macrame wrote: »

Meanwhile $9500 broken

JJJJNR

Fomo!!!

Dohnjoe

If it hits 10k, there'll be a lot of coverage

q85dw7osi4lebg

Significant milestone (again). It's been a great battle all evening, but the resistance will be huge. That said, after 10k and 11.5 there isn't a whole pile of resistance to ath from what I can see.

makeorbrake

Dohnjoe wrote: »

If it hits 10k, there'll be a lot of coverage

The crypto media is not to be trusted. However, one of the (winklevi) twins tweeted the other day that if it hits 10k, then 15k will follow. That sounds very logical to me.

To your point, adding that extra digit (10k) will put crypto right back in the conventional media (again, following the couple of days Libra-coin related coverage). I have no doubt that greed/fomo will kick in.

Bob24

Now $9700.

Been reading different views about the 10000 mark. Some saying it will put BTC back in the mainstream media and trigger massive FOMO, others that it will trigger a temporary retreat with short term investors starting to book profits.

Or maybe nothing special happens, we might known soon :-)

q85dw7osi4lebg

I think 10k will be similar to 9k a few weeks ago, instant selloff with a retreat possibly back to 9k in the very short term, followed by the beginning of mainstream fomo. I think we really need to see 20k again before non believers (most of my aquaintences) can be convinced.

9790 at time of posting.

Frozen Veg

Bob24 wrote: »

Now $9700.

Been reading different views about the 10000 mark. Some saying it will put BTC back in the mainstream media and trigger massive FOMO, others that it will trigger a temporary retreat with short term investors starting to book profits.

Or maybe nothing special happens, we might known soon :-)

Controlled growth hopefully.

Not bubble and burst again.

makeorbrake

Frozen Veg wrote: »

Controlled growth hopefully.

Not bubble and burst again.

We're quite a few years away from controlled growth in crypto land!

q85dw7osi4lebg

$150 to go, what an exciting day! I remember the worried thread the day we breached 10k going the other way, seems a lifetime ago.

q85dw7osi4lebg

ETH on a run to $300

Frozen Veg

makeorbrake wrote: »

We're quite a few years away from controlled growth in crypto land!

I'm all for a good bull but just now a collapse of the market again. Would be hard to recover from a 2018 like bear.

If it's to be a long term currency, there needs to be some kind of stability where it's value will not collapse.

Bob24

Frozen Veg wrote: »

I'm all for a good bull but just now a collapse of the market again. Would be hard to recover from a 2018 like bear.

If it's to be a long term currency, there needs to be some kind of stability where it's value will not collapse.

Both you and makeorbrake are right IMO. You are right in saying controlled growth would be better and he is right in saying the crypto space is probably not mature enough for controlled growth.

makeorbrake

Frozen Veg wrote: »

I'm all for a good bull but just now a collapse of the market again. Would be hard to recover from a 2018 like bear.

If it's to be a long term currency, there needs to be some kind of stability where it's value will not collapse.

I hear ye. I never bought in to crypto for speculative gains originally. And I'd much rather see slow steady growth. However, it is what it is ...and it means you can end up the extreme of either side of it financially and get an ulcer along the way. We have to work with whats there.

vargoo

2017 - $10,000 8 days later 15 8 days later 20.

Hodl all the way down for so many lost there knickers.

Get ready to sell.

Arrival

vargoo wrote: »

2017 - $10,000 8 days later 15 8 days later 20.

Hodl all the way down for so many lost there knickers.

Get ready to sell.

We'll probably see similar movement to this after the halvening next year. While we probably will get some nice jumps in the meantime I think the proper leaps like in 2017 will happen next year, but for even larger sums again just the same way the last ATH run-up was multiple times bigger than the previous ATH. Imagine if we end up seeing $2,500-5,000 jumps each day for a bit

q85dw7osi4lebg

vargoo wrote: »

2017 - $10,000 8 days later 15 8 days later 20.

Hodl all the way down for so many lost there knickers.

Get ready to sell.

But we are at 2015 in the cycle. The next bear market bottom will be higher than current ATH’s.

stockshares

Wasn't sure which one of the threads to put this in but as the conversation is occuring here I'll post it in this one.

US chair of Finance Committee requests Facebook halt Libra
https://www.coindesk.com/rep-maxine-waters-says-us-cant-let-facebooks-libra-compete-with-the-dollar?utm_source=twitter&utm_medium=coindesk&utm_term&utm_content&utm_campaign=Organic%20&amp&__twitter_impression=true

vargoo

Addison Fancy Macrame wrote: »

But we are at 2015 in the cycle.

??

What makes you think that?

Bob24

vargoo wrote: »

??

What makes you think that?

I’m not sure where we are in the cycle or even whether there is a cycle. However I think the current situation is very different from the few weeks which lead to the 2017 ATH.

The reason I am saying that is that back then you could read/hear about the bitcoin price in the mainstream media pretty much everyday, which is not the case today. And on a more anecdotic side everyone in my office (IT department) was talking about it, with people checking their Coinbase account a few times a week.

I don’t think we are nearly near that level of excitement today. However at the same time volumes seem to be higher so I am certainly not saying nothing is happening; but my feel is than it is different.