Bitcoin regained its composure this week to jump to a record high above $60,000, with many analysts pointing to a new wave of institutional interest as the driver.
Goldman Sachs restarting its crypto desk, JPMorgan launching a "crypto exposure" product, and crypto firm NYDIG raising money from Morgan Stanley and others are the latest signs of growing interest in bitcoin.
Skeptics argue that bitcoin is too volatile for investors to start buying in any meaningful quantities and has next to no use value, putting it in line for another collapse.
But a rising number of firms are testing the crypto-waters. Bitcoin enthusiasts argue that "this time is different" for the world's biggest cryptocurrency, because big-name firms are supporting the price and lending legitimacy to the project. https://markets.businessinsider.com/currencies/news/bitcoin-btc-institutional-interest-cryptocurrencies-wall-street-tesla-microstrategy-jpmorgan-2021-3-1030194067A nice recap of what happened lately in the bitcoin / institutional investors world. Among the plethora of nonsensical articles that can be found in the MSM this one is quite good. The optimistic news certainly gives a nice feeling when we read them, however, we should not let our awareness on the market decline. Enjoy the price pumps but be ready for the bear that pounces without announcement. Market bubbles have always been created and have always later burst in time. |
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@acquafredda. However, the service of traders as liquidity providers for bitcoin and the whole cryptospace should be acknowledged as positive. There should also be more of them to provide more liquidity and more price stability for the users.
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Not just 'Binance actually. After Bitmex, every exchange would be on their toes to make sure they're not allowing US citizens to go trade on their platforms. Can't imagine they still would let them though. I think VPN users aren't a good reason for US regulators apparently. Hello strict KYC at some point I guess?
Agreed. However the American government cannot take down all the exchanges at once. Different government agencies will take down only one at a time and I reckon it will be the biggest one to scare all the other exchanges. |
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@South Park. However, it was also mentioned by other news articles that Bill Belichick still is looking for a quarterback despite extending Cam Newton for another year. Jimmy Garoppolo was also mentioned to be wanted by the Patriots.
This is disappointing. I was speculating that Cam would transfer to the Redskins to be with Ron Rivera again and Garoppolo to be with Belichick again.
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I reckon that this might be the best time for sportsbooks to begin promoting other cryptocoins for lower fees for its users. Bitcoin’s mempool has never been this consistently high and transactions consistently expensive before. There is no fix for this except less usage.
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This is the type of harrasment that this American government does to try the service and if they can find something to use as pressure against the service. Wait for the SEC and the IRS to come after binance.us also. I speculate Binance is next target after Bitmex?  Crypto exchange Binance is reportedly being investigated by the U.S. Commodity Futures Trading Commission (CFTC) over concerns surrounding whether it allowed U.S. investors on the platform.
According to a Bloomberg report on Friday, which cited anonymous sources, the CFTC is seeking to determine whether Binance has allowed residents in the U.S to buy and sell crypto derivatives products while not being registered under the government agency's oversight. The report noted that the exchange "hasn't been accused of wrongdoing."Read in full https://www.theblockcrypto.com/linked/98138/binance-us-investigation-report |
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@cr1776. It might be correct for a company to put a very small portion in bitcoin for their treasury, however, 20-40% as protection against inflation might put themselves on a wrong position. Bitcoin behaves like a penny stock. They should only hold bitcoin because it is presently a good investment during this bull market. CEOs who become maximalists might lose their job during the bubble burst hehehe.
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@KIZILAGA. I reckon it is not seen as a theat presently, however, I predict after 2 more bitcoin halvings everyone might begin to see the purpose of Grin’s monetary policy. Wei Dai saw it. I do not know why many of the smart people in the cryptospace avoid this issue.
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I keep repeating myself, I know, this whole US dollar addiction is not turning good.
The cryptospace will also be having its own addiction hehehe. It will be in stablecoins and the storyline for this is beginning. Cryptonews media will begin to praise undercollaterized stablecoins and criticize overcollaterized stablecoins. They might have forgotten the undercollateralization lessons from the 2008 credit crisis hehehehe. “We are basically trying to say, ‘What’s good about Tether and what’s good about MakerDAO?’ and take the good things,” he said. The mistakes the team wants to avoid repeating include “Tether being opaque and MakerDAO being governance-heavy and over-collateralized.”
Variant Fund’s Jesse Walden said its modest governance scope and less-weighty collateralization make FEI “more socially and financially scalable.”Source https://www.coindesk.com/coinbase-naval-framework-ventures-19m-raise-fei-stablecoin |
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+160% in last month. That seems a very good price performance.
Less than 900 AEON are mined per day. That makes current price ridiculously cheap. There are 14.4 million doge mined a day. There are 86.4k Grin mined a day. If any of these 3 coins is ready fro x100, that is AEON.
The volume and liquidity is not much and should be considered, however. This can be argued that this +160% of ours is the beginning of a pump and dump. @bigslimvdub. Grin mimblewimble is also private by default. |
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The NFT is next big thing in crypto. We can easy say 2021 will be NFTs era. With a lot of stuff happening in world it's a really good time for the. ENJ and RARI already had big rise and they will keep growing.
I have a riddle for the next big thing in crypto. If the blockchain where the sold NFT was forked and the fork became the dominant chain then which chain does the real ownership belong? The original chain or the fork? |
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@KIZILAGA. I am not so certain if they are testing the waters and have bought Grin, however, I am wuite certain this is in their list of coins to follow. I reckon theymos’ support should be enough that everyone should give it some attention.
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Hello grinners. Been playing around a bit with grin lately. Thought I would fire up my old BCT account and check out the thread here. I never buy an altcoin early because of that early inflation. I watched grin for a while for a bottom. Finally just bought hoping I caught the bottom. It's a really cool project. Criminally undervalued at rank #500+. I hope the wider crypto community recognizes. this.  But what ever, I'm willing to gamble a little on the hopes that they will. Bitcoin user from 2010 reappears and posts on Grin announcement thread. I reckon this coincides with the data that the earliest of bitcoin holders are exiting bitcoins to invest somewhere else. This might also not only be an investment on the coin, it might be an investment on the infrastructure also. Follow the hashrate and watch it grow. It might begin this year. |
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We should always remember that if a politician or a government official defend their policies by saying that it is for the public’s own good, this is never true. The create policies to control you and limit your freedom. This is never for your own good. Consumer protection is also another way of saying limit the consumer. I reckon when the real time comes where bitcoin becomes really needed, it might only be barely available for the common people. It should always be open access. Should he be confirmed, Gensler will shape crypto policy over the next several years, though it’s an open question if the industry will love the rules he implements. Under his tenure, the CFTC approved nearly 70 rules or pieces of guidance, and he may just regulate the hell out of crypto. He told the Senate Banking Committee he intends to continue focusing on consumer protection at the SEC.Source https://www.coindesk.com/gary-gensler-sec-crypto |
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@stomachgrowls. I reckon you really want Elon Musk to become bald from stress hehehe. Tesla’s investment capabilities do no exceed more than $15billion hehehe. Tesla has never had a full year of profit in the car business except on 2020.
Also, they are certainly not investing in bitcoin because they want adoption. Would that make their move on bitcoin less serious?
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Ok, so the news desk at Bitcoin.com acknowledge the trend of big companies. One of China’s top internet app makers, Meitu Inc., is adding up to $100 million worth of cryptocurrencies to its treasury, joining a growing list of companies worldwide to do so. It is hard to know how these companies will react to a bear market. I recon there wont be one or a prolonged one. If there is one will the pricing in the bear market be lower than their buy price? Also why would they sell back into a presumably hyperinflated FIAT system? These moves we are seeing are about preserving wealth ahead of weakening FIAT systems It might be easier to know with public companies because if the company is a public company then its shareholders can pressure the company’s board of directors. In any case, I reckon with big companies holding bitcoin, it is beginning to place itself as a mainstream asset for speculation. This is very incredible for an opensource project. |
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Israel Adesanya left foot and ankle are screwed after fight with Blachowicz and he could face up to six months medical suspensions and Jan Blachowicz is suspended only for 30 days! In comparison with best acting performance of the night Sterling who was suspended only for 60 days after that knee in his head, that is much less than Adesanya. Is something wrong here?  Everyone is still talking about this past event but we must move on to next UFC 187 starting in few days with Leon Edwards vs Belal Muhamad main event. Rise of Belal Muhammad: https://www.youtube.com/watch?v=FxhUUWZTfWQIs uncle Dana promoting Belal more than Leon hehehe. I reckon Dana does not like Leon Edwards because he is similar to Tyron Woodley. They are very selective on their next opponent. Also, for Amanda Nunes, I reckon she should challenge the men in bantamweight or featherweight for an intergender championship hehehehehe. |
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This Chinese company has also begun buying bitcoin to store in its treasury reserves. Anyone who reads my posts knows that I have always been skeptical on many things. I reckon that we have to speculate if these companies are buying bitcoin to dump later or to hodl. We can trust their hodl in this bull market but in the bear market?Chinese Public Company Adds Bitcoin and Ethereum to Treasury Reserves
Chinese public company Meitu Inc. announced Sunday:
The group has purchased 15,000 units of ether and 379.1214267 units of bitcoin (BTC), both cryptocurrencies, in open market transactions at an aggregate consideration of approximately US$22.1 million and US$17.9 million respectively, on March 5, 2021.
Founded in 2008, Meitu is one of China’s top internet enterprises utilizing AI-driven image-and-video processing technologies for editing user-generated mobile content.Source https://news.bitcoin.com/publicly-listed-maker-billion-user-chinese-app-meitu-40-million-bitcoin-ether-treasury/ |
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I reckon the only reason why the Indian government has changed from a full ban to regulation is because a ban is very difficult to enforce. They would only make criminals of their citizens.
I was hoping for a full ban so that it would be made an example of what a government should not do on behalf of saving themselves from the cryptospace hehehe. The full ban would have made cryptocoins closer to what they should be.
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This is where the attack on the cryptospace begins in America. This will be done first though the IRS. However, the truth might be that they do not care about the taxes. America can print much fiat. The government only wants to invade everyone’s privacy to gain more control over their citizens. This makes it very clear that an attack on the cryptospace is a hidden attack on the people. The IRS is launching a new anti-tax fraud initiative called Operation Hidden Treasure, Forbes reports. A joint effort from the IRS’ Fraud Enforcement Office and its Criminal Division, the task force will dig up unreported crypto transactions and hold would-be tax evaders accountable.
Roger Brown, head of tax and regulatory affairs at the crypto data company Lukka, told Decrypt that Operation Hidden Treasure is the IRS’ way of “raising the stakes” when it comes to enforcement.
Since the effort is being jointly handled with the criminal division, said Brown, it’s going to be looking specifically at intentional concealment, rather the kinds of underreporting that might be categorized as civil tax fraud.Source https://decrypt.co/60654/irs-operation-hidden-treasure-crypto |
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