Is anyone else starting to become a bit excited?

q85dw7osi4lebg

Wicked off the bottom of bullish pennant which commenced 9th June.

I'm not overly fond of TA and crypto but it's clear as day there on trading view.

rapul

Breaking: Bakkt’s Bitcoin future contract gets green light from CFTC; will be launched on September 23
https://cryptonews.net/203580/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

Apologies first time adding a link via phone, but this is defo great news!

cnocbui

Personally I think futures trading is a red rag to a whale for encouraging manipulation, so don't welcome it. The world would be a better place without financial garbage like futures trading and derivatives.

el diablo

cnocbui wrote: »

Personally I think futures trading is a red rag to a whale for encouraging manipulation, so don't welcome it. The world would be a better place without financial garbage like futures trading and derivatives.

Yep I agree. I've no idea why so many are celebrating all this institutional money and derivatives etc. these moonboys only care about the short term price. It goes totally against the original premise of Bitcoin. It'll just lead to massive price manipulation and suppression in the future.

makeorbrake

el diablo wrote: »

Yep I agree. I've no idea why so many are celebrating all this institutional money and derivatives etc. these moonboys only care about the short term price.

These will be physically settled - so it means that they have to go out onto the actual market and physically buy/sell Bitcoin. There is also some interest in their hookup with Starbucks and how that will develop.

el diablo wrote: »

It goes totally against the original premise of Bitcoin. It'll just lead to massive price manipulation and suppression in the future.

Well, I agree - but then this sub-forum is coming under the investments section. It's all part of the speculative sideshow. It probably still needs all this though to get it pushed out. Using the same rationale, Libra is a ****coin but it just might be useful in getting further Bitcoin adoption. Wall Street knows how to manipulate - but if the market gets bigger then single actors can't move the market so easily (and therefore, can't manipulate as easily).


If you want to just look at Bitcoin in the way that the cypherpunks did/do, then that's admirable. At the end of the day, we can all use Bitcoin right now. But the reality is that we need more people to be acquainted with it in order to use it effectively - and I see all of the above helping with that (even though that world doesn't care less about the original ethos of the crypto movement).

I look forward to the opportunity where I can manage the bulk of my finances in crypto and can stick the finger up at retail banking - but for various reasons, we're not there yet. Broadening the market will help a lot. Using the reach of some of these big tech/fintech/financial companies will also help to get it out to more people (either directly or indirectly). Those things will be good on the whole in the longer term even if we can never trust the wall street set.

stockshares

Binance to issue their version of Libra.
https://www.theblockcrypto.com/2019/08/19/binance-planning-to-launch-venus-similar-to-facebooks-upcoming-cryptocurrency-libra/

Bob24

stockshares wrote: »

Binance to issue their version of Libra.
https://www.theblockcrypto.com/2019/08/19/binance-planning-to-launch-venus-similar-to-facebooks-upcoming-cryptocurrency-libra/

Details are scarce for now, but it seems more like a platform to support the creation of multiple localised Libra competitors than being a direct Libra competitor (they are saying “Venus is an open blockchain project to develop localized stablecoins and digital assets pegged to fiat currencies”).

stockshares

Bob24 wrote: »

Details are scarce for now, but it seems more like a platform to support the creation of multiple localised Libra competitors than being a direct Libra competitor (they are saying “Venus is an open blockchain project to develop localized stablecoins and digital assets pegged to fiat currencies”).

This is their release
https://www.binance.com/en/support/articles/360032604131

" Binance today announced its plans to initiate an open blockchain project, Venus, an initiative to develop localized stablecoins and digital assets pegged to fiat currencies across the globe. Binance is looking to create new alliances and partnerships with governments, corporations, technology companies, and other cryptocurrency companies and projects involved in the larger blockchain ecosystem, to empower developed and developing countries to spur new currencies.

With its existing global blockchain ecosystem, Binance has already reserved its public chain technology and cross-border payment system for secure operations of new stablecoins. Since its launch last April, Binance Chain has been running securely and robustly and has issued a range of stablecoins, including a BTC-pegged stablecoin (BTCB) and the Binance BGBP Stable Coin (BGBP) pegged to the British Pound. Binance will provide full-process technical support, compliance risk control system and multi-dimensional cooperation network to build Venus, leveraging its existing infrastructure and regulatory establishments.

Binance welcomes additional government partners, companies and organizations with a strong interest and influence on a global scale to collaborate with us to build a new open alliance and sustainable community. We encourage like-minded people and organizations to contact us and discuss the infinite possibilities of the digital world together: "

Bob24

Binance’s view might be that they can’t beat Facebook at creating a widely adopted global stablecoin, so instead they will bet on Facebook getting swamped with regulatory/public concerns for a while, and try to position themselves as the platform of choice for anyone who wants to create localised stablecoins which are more acceptable to the public and regulators.

Bob24

On a more short sighted and purely financial side of things, that announcement might also bring closer to us the date when BNB takes over LTC in terms of market cap.

Arrival

A while back I posted saying Satoshi himself said Bitcoin couldn't scale to be a complete cash replacement. So it wasn't actually Satoshi who said it, but with all the suspicions of Hal being Satoshi...it was Satoshi who said it:

https://mobile.twitter.com/PilotDaveCrypto/status/1165256398701285376/photo/1

cnocbui

That's an interesting idea. A bitcoin would be worth as much as a small country if all banking went that way.

Bob24

Arrival wrote: »

https://mobile.twitter.com/PilotDaveCrypto/status/1165256398701285376/photo/1

Yep that’s pretty much the same as what I was saying here: https://www.boards.ie/vbulletin/showpost.php?p=110991941&postcount=3967

But if it goes that way I think it has to be a mixed environment whereby people use what he describes as bitcoin banks for small daily transactions but also do self storage with their own keys for large balances/transactions. Otherwise it partly defeats the purpose of bitcoin aiming to give individuals direct control.

stockshares

Binance is launching a lending platform on 28th August.
15% apr if you lend out your BnB.
https://www.binance.com/en/support/articles/360032921211

Bob24

stockshares wrote: »

Binance is launching a lending platform on 28th August.
15% apr if you lend out your BnB.
https://www.binance.com/en/support/articles/360032921211

Is there anything Binance doesn’t plan to do? They have a new announcement every week :-)

JohnnyFlash

Bob24 wrote: »

Is there anything Binance doesn’t plan to do? They have a new announcement every week :-)

I’d say they plan to exit scam fairly soon.

Dohnjoe

JohnnyFlash wrote: »

I’d say they plan to exit scam fairly soon.

Presume you are being sarcastic..

Bob24

I think they need to focus and breath a bit more though. Looks like to me they are trying to do too many things too quickly, to a point it could damage some of their products and cause impactful mistakes.

Blueshoe

JohnnyFlash wrote: »

I’d say they plan to exit scam fairly soon.

Funds are safu buddy

stockshares

Bob24 wrote: »

I think they need to focus and breath a bit more though. Looks like to me they are trying to do too many things too quickly, to a point it could damage some of their products and cause impactful mistakes.

I thought it suspicious when the staff sold their BnB holdings instead of burning a percentage of the available coins to cover the recent coin burn.

They are taking a lot on and the price continues to drop.

Blueshoe

Recently updated my binance app. What is the big gold "M" beside some of the pairs?

JJJJNR

JohnnyFlash wrote: »

I’d say they plan to exit scam fairly soon.

they were giving 15 million dollars of seed capital to crypto projects a year ago, hello matic. they are now bridging their blockchain with other chains so hardly planning on going anywhere except remaining very much in crypto.

SauNewb

Blueshoe wrote: »

Recently updated my binance app. What is the big gold "M" beside some of the pairs?

It means you can trade on margin.

I tried it. Borrowed tether to buy other coins this weekend. They allow you to leverage 3:1. The interest on the loan is low.

I have lost money so far.
It is good to increase exposure without risking more capital.

makeorbrake

SauNewb wrote: »

It means you can trade on margin.
They allow you to leverage 3:1. I have lost money so far.
It is good to increase exposure without risking more capital.

Regular trading frightens the daylights out of me - for margin trading, I'd need my own personal defibrillator

Blueshoe

SauNewb wrote: »

It means you can trade on margin.

I tried it. Borrowed tether to buy other coins this weekend. They allow you to leverage 3:1. The interest on the loan is low.

I have lost money so far.
It is good to increase exposure without risking more capital.

Nice. Thanks for explaining.

cnocbui

Ouch!

I can't imagine how someone could bring themselves to make such a transfer. Typical US court happy to fleece foreigners.

The Australian man who claims to have invented bitcoin a decade ago submitted false documents and lied in a legal dispute with the estate of his former partner, a judge ruled, adding that Craig Wright has to surrender more than $US4 billion ($5.9 billion) of the cryptocurrency.
Australian Craig Wright claims to have invented bitcoin.

Australian Craig Wright claims to have invented bitcoin.Credit:AP

US Magistrate Judge Bruce Reinhart in Florida, ruled on Monday that the late Dave Kleiman owned half of all bitcoins that Craig mined through 2013, and half of all intellectual property he created, according to a court transcript. That would give title to more than 410,000 bitcoins to Kleiman's estate. One bitcoin was worth $US10,162 on Tuesday.

https://www.smh.com.au/business/markets/australian-who-claims-to-have-invented-bitcoin-ordered-to-surrender-5-9b-of-the-cryptocurrency-20190828-p52lff.html

Bob24

cnocbui wrote: »

Ouch!

I can't imagine how someone could bring themselves to make such a transfer. Typical US court happy to fleece foreigners.

The US have several ways to coerce him into paying I suppose. First one coming to mind is that if he doesn’t want to end up in an American jail he has to mostly stay in his home country and can’t travel to any country which has an extradition treaty with the US for fear of being arrested and sent there.

Bob24

stockshares wrote: »

Binance is launching a lending platform on 28th August.
15% apr if you lend out your BnB.
https://www.binance.com/en/support/articles/360032921211

And now they are launching futures trading in September: https://cointelegraph.com/news/binance-ceo-futures-trading-platform-to-launch-in-september

cnocbui

Bob24 wrote: »

The US have several ways to coerce him into paying I suppose. First one coming to mind is that if he doesn’t want to end up in an American jail he has to mostly stay in his home country and can’t travel to any country which has an extradition treaty with the US for fear of being arrested and sent there.

Well if I had been in his shoes, I would never have rocked up to a US court in the first place.

This is a civil matter - he can't be extradited. Go to France - nice food and they are not currently on good terms with the US.

Dohnjoe

Wow he really did stitch himself up

Wright claimed to the court that he couldn’t access the bitcoin because he doesn’t have a list of the public addresses of that bitcoin. He claimed in 2011, after seeing the cryptocurrency had begun to be associated with drug dealers and human traffickers, he put the bitcoin he mined in 2009 and 2010 into an encrypted file and into a blind trust. The encrypted key was divided into multiple key slices, and the key slices were given to Kleiman who distributed them to people through the trust.

Wright said this meant he could not decrypt the file until he gets access to the key from a bonded courier who will arrive in January 2020 – a claim Wright has made before in claiming to be Satoshi Nakamoto, the pseudonymous creator of bitcoin.

In the judgment, Judge Bruce Reinhart said Wright had not proved he could not comply and obtain the bitcoin. He said Wright made inconsistent statements and the whole story was “inconceivable” that he’d had a Dr Frankenstein-like revelation when his creation “turned to evil”.

“During his testimony, Dr. Wright’s demeanor did not impress me as someone who was telling the truth. When it was favorable to him, Dr. Wright appeared to have an excellent memory and a scrupulous attention to detail. Otherwise, Dr. Wright was belligerent and evasive,” Reinhart said.

https://www.theguardian.com/technology/2019/aug/28/australian-who-says-he-invented-bitcoin-ordered-to-hand-over-up-to-5bn

Bob24

cnocbui wrote: »

This is a civil matter - he can't be extradited. Go to France - nice food and they are not currently on good terms with the US.

Agree on principle, but if they really want to do it (and given the amounts involved), I think they could find ways. Might be OK for a while but living with this potential threat will be uncomfortable become increasingly uncomfortable I think.

stockshares

Chinas Crypto launch
https://www.forbes.com/sites/michaeldelcastillo/2019/08/27/alibaba-tencent-five-others-to-recieve-first-chinese-government-cryptocurrency/#26f4d0e81a51

from cryptocompare
Up to Eight Institutions In on Chinese Cryptocurrency Launch

"China’s central bank will launch its state-backed cryptocurrency within the coming months, Forbes reported, citing independent research Paul Schulte. A former global head of financial strategy for China Construction Bank, Schulte told Forbes that “the largest bank in the world, the Industrial and Commercial Bank of China, the second largest bank in the world, his former employer, the Bank of China, the Agricultural Bank of China; two of China’s largest financial technology companies, Alibaba and Tencent; and Union Pay, an association of Chinese banks, will receive the cryptocurrency.”

Schulte’s information was confirmed by a second, unnamed source who is involved in the development of the cryptocurrency—which is being dubbed DC/EP (Digital Currency/Electronic Payments). This source added that an eighth institution could also be among the first tier of recipients listed in the above paragraph, and that the cryptocurrency may possibly launch on November 11 (i.e., Singles Day, China’s—and indeed the world’s—biggest shopping holiday of the year in terms of sales turnover)."

cnocbui

China issues debt backed Crypto - the project is said to be managed by Yee Haw.

stockshares

cnocbui wrote: »

China issues debt backed Crypto - the project is said to be managed by Yee Haw.

Binances opinion on it
https://www.binance.com/en/amp/blog/373418172457308160/Binance-Research-Examines-What-Chinas-Digital-RMB-Might-Look-Like

cnocbui

China would never go with something that allowed for capital outflows, it therefore would necessarily be highly restricted so would be self-defeating.

Bob24

cnocbui wrote: »

China would never go with something that allowed for capital outflows, it therefore would necessarily be highly restricted so would be self-defeating.

I am curious to see what they come up with. As you said it would have to include some sort of capital control, but on the other hand they most likely will want to use it as a USD/Swift alternative for international transactions so it can’t be too restrictive.

Maybe it will include a permission system with different profiles of users which have different type of restrictions (domestic individual, domestic state entity, domestic enterprise, foreign individual, foreign enterprise, etc).

makeorbrake

cnocbui wrote: »

China would never go with something that allowed for capital outflows, it therefore would necessarily be highly restricted so would be self-defeating.

Yup, it certainly won't be a decentralized crypto in any case. So for the most part, makes no odds to the development of actual crypto as to what they come out with.

Bob24

makeorbrake wrote: »

So for the most part, makes no odds to the development of actual crypto as to what they come out with.

Indeed probably not for the development of Bitcoin like crypto which are meant to be decentralised and out of government controls. But if they come up with something which is both flexible enough to be used in international trade and ease up digital payments domestically while giving the government some control, it could actually become a template for other nations in terms of crypto/digital currency strategies.

stockshares

Coinbase report on the Leaders in Crypto Education
https://blog.coinbase.com/highereducation-c4fb40ecbc0e

]

JJJJNR

They give and they take away.. I would have transferred the whole lot into bitcoin and first flight out of here.

https://www.buzz.ie/news/co-wexford-man-e200m-richer-due-technical-error-336157

JJJJNR

P.s. another accumulation period.. Load up crypto bros.

q85dw7osi4lebg

Just bought the dips dip

vargoo

JJJJNR wrote: »

P.s. another accumulation period.. Load up crypto bros.

Nope, not unless they finally drop it to 6.

Bob24

stockshares wrote: »

Chinas Crypto launch
https://www.forbes.com/sites/michaeldelcastillo/2019/08/27/alibaba-tencent-five-others-to-recieve-first-chinese-government-cryptocurrency/#26f4d0e81a51

from cryptocompare
Up to Eight Institutions In on Chinese Cryptocurrency Launch

"China’s central bank will launch its state-backed cryptocurrency within the coming months, Forbes reported, citing independent research Paul Schulte. A former global head of financial strategy for China Construction Bank, Schulte told Forbes that “the largest bank in the world, the Industrial and Commercial Bank of China, the second largest bank in the world, his former employer, the Bank of China, the Agricultural Bank of China; two of China’s largest financial technology companies, Alibaba and Tencent; and Union Pay, an association of Chinese banks, will receive the cryptocurrency.”

Schulte’s information was confirmed by a second, unnamed source who is involved in the development of the cryptocurrency—which is being dubbed DC/EP (Digital Currency/Electronic Payments). This source added that an eighth institution could also be among the first tier of recipients listed in the above paragraph, and that the cryptocurrency may possibly launch on November 11 (i.e., Singles Day, China’s—and indeed the world’s—biggest shopping holiday of the year in terms of sales turnover)."

The Chinese state controlled English language newspaper is now saying on Twitter that the above report is incorrect.

https://twitter.com/globaltimesnews/status/1166544019192549376?s=20

Strange ...

Dohnjoe

JJJJNR wrote: »

P.s. another accumulation period.. Load up crypto bros.

"Crypto sale! big discounts! time to load up!" - 2018

Blueshoe

JJJJNR wrote: »

P.s. another accumulation period.. Load up crypto bros.

Ahh. Is it though?

Iv been sitting in fiat for a good while now. Burned enough of times.
The market jumps unpredictability too often and regularly to the downside in more recent times.

It's a bag of pïss

makeorbrake

Blueshoe wrote: »

Ahh. Is it though?

It's not quite there for me yet. A bit further to go.

There's a lot to be positive about - surrounding crypto - but it remains the wild west. But with high risk and volatility comes great opportunity also. You can't have one without the other regrettably.

I have not been comfy with buying at these levels as the potential on the downside is too big. I'll probably learn from last year and go in partially - leaving some scope to buy further if it drops further (rather than having bought in one hit, then finding i was a smidgen too early and having to pass up the opportunity of buying the cheapest of BTC as I would have been over-extended on the one asset).

We can all get over-exuberant also (me included). That's what seems to be happening recently in crypto circles. It all seems logical as to how things will progress but for people that buy into that and the tech, I think there's a lot of potential to get far too far ahead of ourselves.

Things can take longer than we expect to happen but then when they actually happen, things roll faster than expected.

Blueshoe

makeorbrake wrote: »

It's not quite there for me yet. A bit further to go.

There's a lot to be positive about - surrounding crypto - but it remains the wild west. But with high risk and volatility comes great opportunity also. You can't have one without the other regrettably.

I have not been comfy with buying at these levels as the potential on the downside is too big. I'll probably learn from last year and go in partially - leaving some scope to buy further if it drops further (rather than having bought in one hit, then finding i was a smidgen too early and having to pass up the opportunity of buying the cheapest of BTC as I would have been over-extended on the one asset).

We can all get over-exuberant also (me included). That's what seems to be happening recently in crypto circles. It all seems logical as to how things will progress but for people that buy into that and the tech, I think there's a lot of potential to get far too far ahead of ourselves.

Things can take longer than we expect to happen but then when they actually happen, things roll faster than expected.

People used rant on about Blockchain requiring crypto to exist. That is untrue and a simple Google search of Blockchain brings up endless results of companies using and or in development of their own systems. No unregulated and manipulated crypto currency required

Blockchain is promising
Crypto currency market is looking like junk

My opinion which obviously means nothing but that's what it is

makeorbrake

Blueshoe wrote: »

People used rant on about Blockchain requiring crypto to exist. That is untrue and a simple Google search of Blockchain brings up endless results of companies using and or in development of their own systems. No unregulated and manipulated crypto currency required

Blockchain is promising
Crypto currency market is looking like junk

My opinion which obviously means nothing but that's what it is

There are use cases for all types of cryptocurrency. From permissioned and private to decentralized and public and everything in between. As an example, I don't particularly like Ripple but it's already been proven to have a use case. It may or may not end up being used so much - but the tech will i.e. some project will use blockchain - it just may be done from within the original banking cartel.

The same with Libra - I both detest and welcome it in equal measures. They can do tremendous damage with it (whilst accidentally doing plenty of good with it too).

It's a question of using the right tools for the job.

Blueshoe

makeorbrake wrote: »

There are use cases for all types of cryptocurrency. From permissioned and private to decentralized and public and everything in between. As an example, I don't particularly like Ripple but it's already been proven to have a use case. It may or may not end up being used so much - but the tech will i.e. some project will use blockchain - it just may be done from within the original banking cartel.

The same with Libra - I both detest and welcome it in equal measures. They can do tremendous damage with it (whilst accidentally doing plenty of good with it too).

It's a question of using the right tools for the job.

I agree. The companies themselves may have success in the business world but the market is junk. Its basically buy and hope.