Consolidated Crypto Traders/Chat Thread

Discussion in 'Blockchain & Cryptocurrency Mining' started by Optimus., Dec 15, 2017.

  1. douver

    douver Member

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    Go LTC! Now at it's highest price in over a year. Still 55 days till the block halving.

    An LTC pump imho is very important, not only because in the short term it will bring in lots of money into crypto (which it would). But because the story that a block halving makes a coin go up hard needs to be continued for BTC to pump hard before it's next halving in about a year. If we don't get much more action from LTC, I'll be getting pretty skeptical of any prospect of a new BTC ATH next year.
     
  2. koss

    koss Member

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    India has lost the plot.
    https://www.indiatoday.in/business/...-dealing-in-cryptocurrency-1544709-2019-06-08
    https://www.globalgovernmentforum.com/modis-indian-election-win-clears-way-for-cryptocurrency-ban/

    India has been infiltrated at the government level by the bankers, more so than most other governments.
    You can see this when they canceled the 500 and 1,000 rupee notes from circulation back in 2016.

    Both these moves benefit nobody except the bankers. The government claims that it's to prevent the black market, but what they do will only encourage greater use of the black market, but adding crypto to it.

    I am surprised that India's population are not screaming out more about this.
     
  3. Gunna

    Gunna Member

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    You do realise how poor the majority of people are in India so Crypto doesn't impact them, why would they scream about something that they have probably no idea on.

    600 million Indians face a water crisis, Crypto is so far down the list......
     
  4. douver

    douver Member

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    Another shot fired at unregulated crypto exchanges by the US. Looks likely Binance is being to be forced to start blocking US customers from it's main exchange. I'd guess a US regulated Binance exchange won't have 3/4's of the coins on Binance (pretty much all the coins listed there but not on a US exchange). Bad news for them being blocked from the US market and especially BNB which wouldn't profit share from a regulated exchange.


    [​IMG]

    https://www.coindesk.com/binance-says-its-launching-a-us-exchange-with-fincen-registered-partner
     
  5. whatdoesthisdo

    whatdoesthisdo Member

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    Pffft it's not like Americans really use Binance anyway.

    upload_2019-6-14_22-3-36.png
     
  6. dirkmirk

    dirkmirk Member

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    I never felt the need to join Binance....
     
  7. douver

    douver Member

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    Well, story got confirmed - US Binance users have 90 days before they are locked out of trading on binance.com. Seemed to have sparked mass altcoin dumping and a bitcoin jump.

    I'm not sure Binance was ever really good for altcoins - Binance wasn't the 'top' exchange until the bear market started. I think their social media spam has been very effective at getting users, but in reality they're not that good for the market generally.

    It looks like for better and for worse we are headed into a period where only coins that pass US regulation get a chance to shine.
     
  8. koss

    koss Member

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    Meh, people in the US will just use a VPN or Tor etc.
     
  9. Gunna

    Gunna Member

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    Glad I'm 90% all in for POWR then.
     
  10. dirkmirk

    dirkmirk Member

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    Pretty risky strategy:Paranoid:, you gotta go for tokens that were designed as a currency isn't power just a tokenised business?
     
  11. douver

    douver Member

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    I don't think most people would bother, plus if Binance doesn't use every available method to block those kind of users them they will get their asses sued.

    They will need to do some more compliance work if they want in the US, POWR is getting blocked from bittrex US in a couple of weeks. As is about 75 others, pretty sad really. I think tokens are in a weak spot generally in regards to regulation, they aren't really decentralised yet as a central team got the ICO money and a lot of their plans are essentially running a business looking to make money for the token holders - which makes them vulnerable to normal business laws.

    https://bittrex.zendesk.com/hc/en-us/articles/360029523891
    https://bittrex.zendesk.com/hc/en-us/articles/360028996652

    Meanwhile Facebook coin testnet launching next week. This is surely going to be massive, so many partners.

    https://www.theblockcrypto.com/2019...in-testnet-next-week-backed-by-libra-reserve/
     
  12. koss

    koss Member

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    Sif Binance knows how to block Tor, do you?
     
  13. shredder

    shredder Member

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    If Facebook takes over crypto and the whole world starts using it... what relevance Bitcoin? Seems like the crypto libertarian's nightmare - "corporate behemoth set to take over crypto space".

    That huge picture of Facebook-crypto-affiliated corporations - guess what that giant ring of partnerships will take commercial and political aim at, as their "illegitimate" competition?
     
    Last edited: Jun 15, 2019
  14. whatdoesthisdo

    whatdoesthisdo Member

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    Why would facebook take over crypto?
     
  15. koss

    koss Member

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    They can't it's FUD.
    Facebook's Globalcoin is centralized and they can censor it, so it's just a digital currency like a bank's not crypto by a long shot.
     
  16. shredder

    shredder Member

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    Not aware of the perhaps the biggest rumour/news currently in crypto?

    https://www.wsj.com/articles/facebooks-new-cryptocurrency-gets-big-backers-11560463312
    (sorry, that's a subscriber article, but I'm sure you can google other sources)

    https://www.theblockcrypto.com/2019...btained-the-entire-list-of-inaugural-backers/

    [​IMG]

    Announcement rumoured Tuesday, US time I assume.

    Serious charters have been predicting the next bitcoin correction for weeks now (looking for a peak in this 8000-9000 area, before returning to mid-7000s, and possibly further to 6000-very-roughly-ish), and we are currently in the golden zone for it to begin soon, *IF* it will. The main question in that scenario (and I stress it is just one possible scenario) is whether or not it upwicks further first to pull in a final glut of overconfident longs.
     
    Last edited: Jun 15, 2019
  17. whatdoesthisdo

    whatdoesthisdo Member

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    I am fully aware of it, just don't see why it would take over crypto. It's just another centralised and closed product. There's plenty of them already out there that already way ahead. It might have a huge launch as people get ICO fever but I just don't see what it offers over bitcoin and will struggle with TPS, privacy, and security.
     
  18. shredder

    shredder Member

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    In the eyes of the average dumb consumer: legitimacy, immediate use cases, and intensive marketing aimed at the billions of fb (+ consortium) users.
     
    Last edited: Jun 15, 2019
  19. douver

    douver Member

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    For basic transfers I can't see how crypto can compete with a facebook coin. So tether etc are potentially without a usecase (and maybe bsv?).

    However, surely facebook coin will be pegged to fiat, so no speculation. It also will be fully government surveilled and they could potentially seize your funds. So most of the current crypto usecases are not covered imho. There is no reason to hold a facebook coin, it's like holding funds in a paypal account.
     
    sanjeevlives and whatdoesthisdo like this.
  20. dirkmirk

    dirkmirk Member

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    I'm thinking of major currencies like USD/GBP/AUD, etc these are all pretty much correlated.....

    So I say to people who think FIAT is bad take a look at Greece as part of the EURO who cant influence monetary policy as a sovereign nation....

    Think outside the square for a second, they are part of a strong system who have no ability to influence monetary inflation....Did it help their economy?

    I get majorly p!ssed off when people think a peg to gold or Bitcoin will solve the worlds problems in regards to the creation of dollars/pesos/etc.

    I'll be beating my head against a brickwall but fiat money was NEVER supposed to retain value..... YOu spend the money to create productivity or grow wealth or loose it.

    Think of money(fiat) as a tool to create wealth or exchange goods and services, store of value and fiat are a completely different concept.
     

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