SEC has made an anouncement to crack down on exchanges and attempt a full on crash of no recovery with Bitcoin. I think they are just butthurt. They can't really find an institution or body to talk to about this because everything is decentralized (hahahahaha) so they see harassing exchanges as their only option. I can understand what they are trying to do. SEC don't want another Mt. Gox incident again which is very frightening if you think about it. Millions of dollars worth of coins being hacked have an impact not only to the users of that exchange but also to the integrity of cryptocurrencies as a whole. Completely agree and to add even more to that. Sec is even more interested now because a lot of hedge funds are investing in crypto, which means that any large crypto failure or scam may have very wide range financial knock on effects. It’s called systemic risk and it’s what happened in the 2008 financial crisis when everyone and their mother started investing in shitty mortgage backed securities. The world suffered years of economic downturns because of how these shit securities were too connected with everyone and every financial institution |
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Datum is coming up at the end of the month and I think it has a great business case, especially since the equifax breach. Here is a very recent article (from a non blockchain business publication) about the potential of blockchain to solve the problem of who has access to your personal data http://www.journal.ky/2017/10/10/cayman-vies-to-lead-blockchain-digital-id-innovation/ Obviously I believe in Datum hence i wear their signature  |
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Very cool to read everyone’s responses! Some of you give me hope, some of you scare me (so many of you were scammed)
I’ve only been in crypto since July 2017. I heard about bitcoin a couple of years ago when I believe it was around $80 but I thought it was bound to crash. How I wish I’d taken a chance then!
I think the crypto currency world is just at its beginning. Lots of gains still to be made by us latecomers. I can’t wait to have the knowledge that some of you have after 2 or 3 years in the game.
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It would make me poorer if I sold my alts. Most of them are underwater except ripple, zcash, bat and ardor.
Whatever though. Right now it’s just a loss on paper. I’m not going to sell now. In fact I’m buying more. Everything i own will go back up soon and I will be richer than when I started.
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I'm into the crypto market for more than 2 years but there I was scammed before so I decided to quit and when I saw the value of Bitcoin last year, I was shocked of its growth so I decided to give it a try again but this time, I learned from my mistakes. As for your observations about the numbers of newbie accounts, I think most of them are just dummy accounts of other members here.
Getting scammed must suck. Sorry it happened to you. The reason I think there are so many newbie accounts is that the same questions keep coming back like what’s an airdrop or where do I buy a coin? If they were some members dummy account at least they could make their questions more interesting! |
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Just curious about the people on this forum. There seem to be a lot of newbies around, like myself. So tell me: how long have you been in the crypto market?
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Haven’t they just recently started issuing their cards and there was a problem with the cards for people outside Europe. I’m not sure that’s been resolved. The token price took a dive when that announcement was made and it has not recovered yet.
Despite that i also believe in TenX and as it is adopted more widely the price will rise.
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Many tokens sold during ico are securities and therefore icos should be regulated so that a minimum amount of investor protection is assured.
However, i don’t think they should be regulated like ipos. Ipos are super expensive (it costs about half a million usd to do an ipo because of all the regulation) and i think it is regulatory overkill. It stifles innovation and makes small companies unable to raise the funds they need. There has to be a better way than what we have now (no regulation and so many scams) and ipos, which are only for big rich companies
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I wouldn’t sell. I would buy cheap altcoins instead because you can find some great bargains at the moment. When the market rebounds after the fork, you could make more money than if you bought bitcoin, which is at an ath now, another reason not to buy it.
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I don’t think it will ever happen. Digitalization of fiat currency like many countries are doing is not the same as replacing fiat. Fiat forms the base of government control over its policies. Government decides how much money to print, what the interest rate will be, use that to either heat up or cool the economy. They use their currency to attract foreign investments. It’s hard to imagine that countries will ever give up that control.
But it’s really interesting to think about how all this would work if there was no fiat. Nothing short of a revolution.
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Aside from the speculation on price, can anyone sell me on ltc? Why is it going to rise in value? It’s a real question. I never understood the appeal of ltc when you can use btc. Why go for silver when you can have gold? Is it not just another crypto currency? What am I missing?
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Right now I’ll pick up some Waves, syscoin and zcoin. I’m stalking ETH, waiting for it to go a bit lower and ardor, which is one of the few coins still in the green (at least last time I checked today)
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Finance is the obvious one, especially remittances and payments systems.
But I also think healthcare has a lot of potential, particularly when it comes to record keeping. In the United States, poor record keeping and inability to share records between health care professionals is one of the main drivers of healthcare costs.
The other area is immigration and border control. I didn’t think of it at first but I was traveling through the usa last week and there were so many checks, passport verification etc. If that was decentralized and using blockchain it would be so much more trust worthy and it would change how people travel.
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I think you need a strategy. Which coins are long term hodls? Put those away and don’t touch them. Which coins are speculative buys? Also always have some cash holdings on the side in case some good deals come up. It sucks when there is a big dip and you have no money to invest.
Also, as a pp said, you need to not trade on emotions. Trading on emotions is a great way to lose lots of money (ie buy high when everyone else does and sell low when it dumps). Read about the projects, learn to read charts, learn how to evaluate fundamentals.
As for neo, personally this is one of my long term hodls. I believe in the project and I think it will grow. Waves is great but for the long term too.
I have bat but it’s in my speculative pile. I don’t see a long term future, for various reasons. I do like the brave browser though but not everyone does.
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Kyc is necessary to prevent dirty money (ie money that is the proceeds of crime) from entering the financial system, to prevent funding going to terrorist organizations and to prevent funding going to people on sanctions lists. It doesn’t matter if it’s a security or not. Even banks have to do kyc when you open a plain vanilla bank account at least in the usa, eu,Canada.
I do think it’s necessary because I’m really tired of global terrorism and terrorists can’t carry out their acts if they have no access to money.
Why is it awkward to do kyc on an ico?
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Interesting. Is that from a US perspective? Because just as there are many securities laws around the world now so different exemptions and tests apply in various countries.
Also, I’m not sure I understand the second option. If you buy out a company but still issue new tokens is that not a security?
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I’ve participated in 2 ico so far. The first one is now down more than 50% so that sucks. It’s a working company with an existing product so it’s not a scam but volume is very low and it’s not listed anywhere yet, it only trades on Waves dex. So I’m holding because I refuse to sell at that kind of a loss.
The second one was better. Not profitable yet but it is a long term hodl
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I agree that would be a useful feature. To prevent those phishing attempts from being successful, maybe a second confirmation from the registered user before the funds are transferred? For example if I want to take coins out of Bittrex, I not only have to enter all my info on Bittrex itself but Trex also sends me a confirmation email to click before any funds are released. Does such a wallet exist already?
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