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Expect regulations to tighten like they did in recent years that contributed to this.
Also, use regulated exchanges where possible. Don't blindly put faith in sites that seems to have a reputation and nothing else, no credentials or licenses. They are likely to get cracked down in the very near future.
It's completely warranted to stress the importance of holding your own private keys. I think that awareness has not been raised enough about this.
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I don't think that it's good naming either, but that's just the way it goes.
There are projects in crypto that are quite successful that have a degree of centralisation or even just flat out co-operate with banks anyways. It's not like crypto signifies complete decentralisation in the first place anyways.
Ultimately, it's the preference of the developers and team themselves - and if it doesn't concern them then there really isn't anything wrong with it.
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I don't think that it is a given. There is still a lot of what-ifs to get a altcoin run started.
I do think that major coins like ETH, LTC and XRP will likely see steady and sustained growth once the BTC bull market picks up once again. The same can't be said for coins that have low market cap and liquidity within the market that previously thrived.
Make sure you're prudent in regards to what you invest in. Don't invest your money in projects that promise too much, or vaporware in general.
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Is it only safe to play with top50 coins?
Are you also looking at coins which are not listed on CMc?
Thank you!
I don't think that you should be limited to top 50 coins. There are some good coins under rank 50 that are quite promising, including IOST and BTS for example. What I think you should steer clear of at all costs though are the coins that you mention that aren't even listed on CMC - those are the ones that you should be extremely careful about. Unless they're not listed for a good reason such as the fact that they may be a new project and CMC simply didn't have the time yet, you shouldn't be investing in coins that don't have any exchange liquidity or even basic recognition on a platform that essentially lists all coins if you pay them enough. |
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Absolutely. The fact is that most altcoin investors right now are looking for quick profits, and not long term fundamental developments.
This is why you see a lot of coins that have no real value or substance per se but being able to turn extremely quick profits as they are listed on exchanges. Exchanges provide liquidity to investors, and listings are obviously extremely bullish news.
This isn't necessarily the optimal state of the market, but it's just how it is.
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Let's see ETH hold up the 0.02 BTC support first, before jumping to conclusions.
But I do think that if BTC is bullish in the medium term, ETH will likely outpace BTC growth because of how much it depreciated against BTC in the previous market cycle. I think that given the state of ERC20 adoption and potentially ETH2.0 coming out soon, it's a matter of time before ETH does get a bull run of its own.
But short term, I'm not leveraging my trades on ETH. Just holding rn because it's still uncertain where the wider market will move (whether BTC will breach $10k, etc.)
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Yeah, these little events definitely may contribute to the public and any regulator's perception of the cryptospace being something that is largely unsecured and amateurish in terms of protecting users.
From an individual standpoint though, all this shows is the importance of switching up your emails when you sign up to different sites.
That way, if one site does get hacked, you don't need to reset every single password on different sites in order to protect yourself. It's a lot more secure, and convenient when things go south.
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It's probably a combination of both.
Xi's comments were the sparks, and a short squeeze was definitely imminent after such bullish rallies after that. Because of the sheer amount of shorts that people were taking out due to prices falling under $7.5k, that squeeze was extremely sizable.
This is why I think that prices may just regress again back to $8-9k before climbing back up in anticipation for halving next year.
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I know that p2pb2b is likely a scam, given the sheer amount of complaints that I've seen against them. So I would avoid them to say the least.
But all of these exchanges that you've listed are small scale operations with no clear regulatory compliance/jurisdiction. I'd rather be holding BNB and participating in Binance IEOs as opposed to one of those. The quality of the token project can be adversely affected as well.
Good tokens simply don't list on small exchanges, because they know that they can raise more elsewhere.
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I do think that DEX based projects will see some sort of bull run, especially when you take into the macro variables like the halving in BTC that will likely drag the entire market up along with it.
However, it's unlikely that institutional investors are going to be the cause of DEX projects being up. The reason being is simply that they have no vested interest in this field - most institutional investors prefer more mature technology, with some element of traditional banking integration.
That makes me think that platforms like XRP and IOTA who have real life partners will likely appreciate more than the rest.
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A contract and ID alone doesn't guarantee the lender anything.
You could default on the loan, and the ID would be absolutely worthless especially to a cross-border lender whose country's police have no jurisdiction on international matters concerning finances (not that they would care in the first place for such a low amount, anyways).
Granted, the lender can chargeback on paypal, but that's not possible all the time especially sending as F&F. I would suggest you look at /r/borrow if your only form of 'collateral' is your ID, because that's not acceptable here.
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No KYC is relative. Not absolute.
All sites will have clauses in their ToS in terms of being able to hold user funds if they suspect illegal actions, and identify the users before they are able to withdraw.
Sites like Nitrogen and others who are known for "no kyc" simply are more lax on this front than others. While others like sportsbet.io and cloudbet seems to have some form of history with holding user funds.
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It was so annoying... They were just driving away traffic from their site since people couldn't get the info they wanted whenever there was any bech32 address involved. It's kind of shooting yourself in the foot. Anyways, I'm using blockchair as well since they supported bech32 addresses long ago. Blockchain.com has really regressed. |
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The fact that funding is allowed to go on for up to 1 year while investors can pull out makes no sense to me.
Doesn't that essentially mean that funds cannot be utilised on the project itself until 1 year later?
Then, what would be the point of having an initial offering at all if it delays the progress of development by that long? And what incentive will investors have to invest in something that won't generate them income for a year? Makes no sense imo.
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There seems to be still significant resistance at the $10k level.
Prices did shoot up above $10.3k but didn't hold that level for long, which would suggest that there are still some bearish sentiment within the market that hasn't been washed away from this rally alone.
It should be a matter of time before this happens, but BTC could potentially regress to the $8.5-9k level extremely soon as it tests the support there.
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Probably not in particular.
However, Libra has had a long record of being prosecuted by governments and regulatory agencies worldwide. It's not really surprising that new legislation is still popping up that is essentially targeting the existence of Libra.
I don't really see how a centralised project like Libra can survive without government endorsement. Especially when they see it as a threat to current frameworks.
Without the support of the government, Libra coin is still constrained by regulations in several countries. If you get approval from financial and government authorities, I think the potential of Libra coin is very large because it is supported by the large number of Facebook members worldwide. The problem here is that they *aren't* getting any approvals from financial regulators. If they did, then yes, there is no doubt that there is significant potential here for widespread adoption. However, right now they don't have the support of the decentralised crypto community nor the regulatory authorities, a double whammy. Unless they can somehow fix that, they're not going to find success the same way Wechat or Alibaba did in the Chinese market. |
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I personally can see ETH breaking out as well.
The fact that BTC is likely going to hover around the $9k level is going to help in terms of giving room for other alts to pick up. When BTC pumps significantly or when it falls significantly, alts usually fall faster. While when BTC is sideways, alts are able to have some room to grow.
ETH also has already broke above the 0.02 BTC psychological barrier, which is a good sign.
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If I'm being honest, margin trading when you don't know what the hell you're doing is probably the worst decision that you can make. More so than investing in alts blindly.
Your losses are simply magnified proportional to your leverage, which makes your trades inherently more risky. Your mindset of holding existing positions also completely change, meaning that you are now more likely to be a part of the "weak hands".
Anyhow, only do margin trading when you truly understand the product/derivative that is being traded, and have a general understanding of the market conditions. Not prior.
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Anyone have any thoughts on coins that have their own DEX's as far as future price?
I know Bitshares has a good one. It's an easy two step process to sign up, Just pick a user name and they give you a password which you then have to copy and paste in. One can print that out as a type of hard wallet.
I don't know about other coins except that Komodo I thought was working on one about a year ago.
Definitely something that should be looked into. Although I think that Binance will probably continue to dominate this space with their own token because of the fact that they have such a big existing userbase right now. BTS has the potential to pump extremely hard in the short run, as demonstrated previously by its historical rallies, but in the long run I don't think that the pegged assets that they offer on their exchange is sufficient. Besides, the liquidity on their exchange is significantly lacking making it unfeasible for anyone to seriously use it. |
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All the talks this week are all about China launching its own coin, they can easily do that because China's main man Xi Jinping is the one who wants China to create one, while Facebook's Libra coin is having a hard time to convince the Congress to let them launch Libra Coin,
It's different between the two coins, one will launch easily while the other is having a hard time with the regulator
On a positive note, I think China's plan will be considered of those who are opposing Facebook plans to launch their coin but of course, it
will be highly regulated compared to China's coin who will be under the supervision of China's Central bank.
What's your thought on this?
Of course. China's potential crypto project has the backing of a government, while Libra is the opposite of that - the FED, the SEC, and a bunch of regulatories agencies are all of their tails for trying to launch their token. These inherent structural differences between the two projects are what is causing this. But either way, both cryptos will not be decentralised which is why this news doesn't really interest me at all. |
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