Are we excited yet?

Antares35

Bob24 wrote: »

No sure it will be getting anyone excited, but it looks like SF are trying to get the EU to strongly regulate crypto: https://cointelegraph.com/news/irish-mep-calls-for-stringent-crypto-regulations-in-europe

Would they ever just feck right off.

djan

A lot of that is not enforceable, especially in decentralised systems where as long as you have an internet connection you can transfer and exchange coins/tokens as you wish.

The only regulation can be in on/off ramps and centralised exchange providers which is already mostly in place.

Donald Trump

djan wrote: »

A lot of that is not enforceable, especially in decentralised systems where as long as you have an internet connection you can transfer and exchange coins/tokens as you wish.

The only regulation can be in on/off ramps and centralised exchange providers which is already mostly in place.

Do you not think it gives prices a lift when a company (say a large electric vehicle manufacturer in the US) says it will start to accept the "currency" as payment?
Price rises and people say it indicates acceptance.


Now on the flip side, suppose a large government bans any company from accepting or possessing that asset? So that it can no longer be used as a currency? (if it ever had been)



Hypothetical situation - suppose the US government made it illegal to possess or trade Bitcoin, or even to convert to or from US dollars to bitcoin. If you are a US citizen, you can of course continue activities online in another jurisdiction. But you would be technically breaking US law and at some stage you might want to bring your profits back.


To be clear, I'm not talking about the ability to completely stop any particular activity worldwide. Just to disincentivize it.

GooglePlus

This thread seems more excitable when things are going down and quiet when they're on the up. I've pulled back into stable and waiting for another buy in but I could be made a fool by the gods.

Bob24

djan wrote: »

A lot of that is not enforceable, especially in decentralised systems where as long as you have an internet connection you can transfer and exchange coins/tokens as you wish.

The only regulation can be in on/off ramps and centralised exchange providers which is already mostly in place.

I don't want to go too much into politics as this isn't the right forum, but I would say that whether it is enforceable or not is most likely irrelevant to the MEP in question ;-) (he probably understands very little about blockchain and cryptos)

What he is after is probably more visibility and virtue signalling.

weemcd

Back to neutral now after being down about 50%. Only in since January. Had this been me looking at shares even last year I probably would have sold at a loss and got out altogether.

Let's get some massive gains locked in now for everyone who didn't sell at the bottom.

I moved around some funds yesterday and staked $4k worth of CRO to get their Jade Green card. My god have mercy on my soul.

Chris_5339762

weemcd wrote: »

Back to neutral now after being down about 50%. Only in since January. Had this been me looking at shares even last year I probably would have sold at a loss and got out altogether.

Let's get some massive gains locked in now for everyone who didn't sell at the bottom.

I'm down about 15% But then I'm new at this and not very good yet. Picked a lousy time to start investing but I'll hold out and hopefully it'll break even.


Then it can go to the moon!

BrandonBay86

Another 1,000,000 sats acquired at $38,000 ish.

It’s that simple.

weemcd

Chris_5339762 wrote: »

I'm down about 15% But then I'm new at this and not very good yet. Picked a lousy time to start investing but I'll hold out and hopefully it'll break even.


Then it can go to the moon!

When I got in everything was unbelievably easy. Gains every day especially on the Alts. I shifted from BTC and ETH to all Alts and wondered if I'd made a mistake when they both hit ATH. Then they all crashed. Complete luck on my part, brought my enty prices wayy down. This was definitely a very difficult period to start off but hopefully a learning experience that will hold you in good stead for the future.

/EDIT BTW I think being down 15% is still not a bad position considering some people were shook out completely, or took 70%+ losses.

Chris_5339762

Yeah could be worse. Will take it handy for now. I did grab some ETH when it was low (not that much mind, only a few hundred euros) and thats gone up a nice little bit already so I'll ignore all the other lines on the exchange portfolio page!!!

I have some GME for my sins. Bought it to take advantage of the margin lending on ftx.com (was at 300% for a while!). I went to set some stop losses on ftx as I don't trust GME long term. I'm relatively new to trading on ftx. I set two limit orders at roughly -$50 and -$75 of the market value. I did this all the time on kraken. It would sell if the market value reached this limit. Apparently ftx does it differently. The two orders sold instantly at the limit, not the market rate. I effectively threw away $500 and I've accidentally taken out my initial investment. Least happy person to ever take profit :pac:

Thargor

BrandonBay86 wrote: »

Another 1,000,000 sats acquired at $38,000 ish.

It’s that simple.

Remember a while back one of the experts who always show up during the dips thought you were claiming to have topped up by a million BTC not Sats and called you a bullsh1tter

FFVII

https://www.theblockcrypto.com/linked/106721/more-than-5-million-eth-has-been-sent-to-ethereum-2-0s-deposit-contract

Anybody do this?

BrandonBay86

Thargor wrote: »

Remember a while back one of the experts who always show up during the dips thought you were claiming to have topped up by a million BTC not Sats and called you a bullsh1tter

No doubt there will be more !

Xaniaj

FFVII wrote: »

https://www.theblockcrypto.com/linked/106721/more-than-5-million-eth-has-been-sent-to-ethereum-2-0s-deposit-contract

Anybody do this?

I have my ETH staked which locks it in until 2.0 but I plan on holding long term so it's a no brainer for me with the 6-8% interest on the stake.

Dohnjoe

Been creeping up since Monday, expecting a weekend drop. Looking back on the 2018 panic/crash I'd say the next 2 or 3 weeks are pretty crucial.

BrandonBay86

Dohnjoe wrote: »

Been creeping up since Monday, expecting a weekend drop. Looking back on the 2018 panic/crash I'd say the next 2 or 3 weeks are pretty crucial.

Lmao relax man, will be $100k within the year (9 months more likely )

SortingYouOut

Dohnjoe wrote: »

Been creeping up since Monday, expecting a weekend drop. Looking back on the 2018 panic/crash I'd say the next 2 or 3 weeks are pretty crucial.

On the button Friday morning

pc7

I’m lost with the Elon Musk thing, is he trying to crash BTC and get people in on doge? Or is he just mad as a badger? His tweets baffle me? (Very new to all this) thanks

SortingYouOut

pc7 wrote: »

I’m lost with the Elon Musk thing, is he trying to crash BTC and get people in on doge? Or is he just mad as a badger? His tweets baffle me? (Very new to all this) thanks

https://twitter.com/elonmusk/status/1400620080090730501?s=20

It looks like he's broken up with Bitcoin and is letting people know. I could be wrong though but it spooked the market anyway.

Going to follow into tomorrow and Sunday, see about buying back in.

Phoebas

pc7 wrote: »

I’m lost with the Elon Musk thing, is he trying to crash BTC and get people in on doge? Or is he just mad as a badger? His tweets baffle me? (Very new to all this) thanks

Personally I think he just does it for his own enjoyment, a mix of trolling and power trip.

It does raise serious questions about BTC and crypto in general being an investable asset when obscure tweets can move the market like this.

SortingYouOut

I wonder if Satoshi Nakamoto envisioned a world where masses could be swayed in mere seconds few words. Social media is mad when you think about it but this is a great example of how it can be used for bad, whether intentionally or unintentionally. He should be investigated and all his buy/sell times checked against tweets.

pc7

Phoebas wrote: »

It does raise serious questions about BTC and crypto in general being an investable asset when obscure tweets can move the market like this.

Yeah its almost like insider trading if he actually manipulates it.

djan

SortingYouOut wrote: »

I wonder if Satoshi Nakamoto envisioned a world where masses could be swayed in mere seconds few words. Social media is mad when you think about it but this is a great example of how it can be used for bad, whether intentionally or unintentionally. He should be investigated and all his buy/sell times checked against tweets.

While he won't be investigated for market manipulation as it is not a regulated asset class, I definitely would not want my company associated with him.

It does baffle me how people give his opinion so much weight esoecially given that Tesla has huge actual losses and only offsets them by selling emissions credits (madness of a system).

Does show that we are some way away from adoption and that a lot of people only see crypto as a method to increase their FIAT holdings.

cnocbui

pc7 wrote: »

I’m lost with the Elon Musk thing, is he trying to crash BTC and get people in on doge? Or is he just mad as a badger? His tweets baffle me? (Very new to all this) thanks

I think he's exercising his ego to be centre of attention all the time, so it doesn't have to make sense so long as it gets him talked about.

pc7

cnocbui wrote: »

I think he's exercising his ego to be centre of attention all the time, so it doesn't have to make sense so long as it gets him talked about.

The replies to his tweets are even odder than he is! Wish he'd give it over

Jafin

I found the whole Musk thing amusing at first, watching Doge skyrocket every time he mentioned it (I don't have a single Dogecoin so I have no investment in whether it does good or bad), but reading through the comments it reminds me a lot of the WallStreetBets subreddit when GameStop shares took off. It makes me feel like there are a ton of people being taken for a ride, unwittingly dumping their life savings into a meme thinking they are going to get rich quick, when in reality whales are probably just waiting for people to drive up the prices so that they, the already rich, can sell and get even richer. Seeing people in the comments follow him like he's a cult leader is...not great.

circadian

pc7 wrote: »

I’m lost with the Elon Musk thing, is he trying to crash BTC and get people in on doge? Or is he just mad as a badger? His tweets baffle me? (Very new to all this) thanks

Basically Tesla bought over $1billion worth of BTC earlier in the year. Musk tweets that they'll accept BTC as payment, pumping the price through the roof and then they sell something like 10% (about $272 million) to "test liquidity" or some other BS. Then earnings reports from Tesla show that if they hadn't made money from selling BTC they would have been at a significant loss and that would be including regulatory credits.

So here we are, he's dropped BTC and pushed DOGE for either personal gain or for ****s and giggles. Either way, since they hold a significant amount in BTC still (apparently) I'd expect several attempted pumps over the next 6 months or so. I suspect people will soon learn to ignore him in this regard, especially because a decent portion of BTC holders would be Tesla owners (or would be owners) so the brand will inevitably take a hit as a result of Musk causing people to lose money.

cc87

BTC is back to the same value it was less than 48hrs ago.
Seems like normal fluctuations to me.

It has a lot of resistance around the 39/40k mark which it spent a lot of time around yesterday before selling off.

The reaction to this drop is way over the top I think.