It is being speculated that some original miners and early adopters are dumping their coins since December. Why they are doing this is unknown. However, I speculate that they might become early adopters of another project. That project might be the other coin that theymos accepts for copper memberships hehehe. This coin has also received a donation that came from a coinbase transaction of an original miner. Source https://twitter.com/n3ocortex/status/1364699416012222465?s=12
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It appears Allianz’s chief economic adviser is optimistic that central banks might begin accepting bitcoin or be involved. I reckon not before they have tried everything to stop it with their full power. The longterm might be shaky for the cryptospace because we are in a world where the governments have total interests on their monopoly on currencies. They will not give this without a war. Allianz's chief economic adviser sees three types of investors flocking to Bitcoin—and says all three should be concerning to central banks.
The first group of Bitcoin investors right now are those "who truly believe Bitcoins will become money," El-Erian said, "a currency as opposed to a commodity. If you're a central bank and you have a monopoly over money, that's not very reassuring at all."
The second party are those "who are adopting Bitcoin for negative reasons," El-Erian said. "They're being pushed out of everything else and pushed into Bitcoin. It's like being pushed into a marriage. Why are they doing that? Because they don't know how else to mitigate risk. Do you really want to invest in a government bond whose price has been artificially jacked up? So 'let's diversify, let's put 2% into Bitcoins.' You're doing it for negative reasons, to protect yourself; the first camp are doing it for positive reasons."
The third camp? Speculators, plain and simple. "Where else," El-Erian asked, "do you get 20% returns or losses in a single day?"
All three groups, El-Erian said, "should be concerning to central banks. When it's trading above $50,000, all three messages are problematic for central banks. So, we are going to see central banks look increasingly at cryptocurrencies as something they should be involved in, and not just stand on the sidelines."Read in full https://decrypt.co/59317/el-erian-bitcoin-3-things-concerning-central-banks
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@cfif. I disagree. One of the main arguments of Grin’s monetary policy is sound money has to do more with transparent emmission than limited supply. Cryptocoins with limited supply are hoarded as speculation with the dream that it will pump hehehe. Grin’s monetary supply wants to change this and to also make it as fair to the late adopters as to the early adopters.
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@joniboini. They are regulating exchanges. Some exchanges freeze your account if the source of funds is from a source that they do not like to remain compliant with the regulators.
This is why I speculate that Paypal might never allow their users to withdraw their funds in bitcoin and other cryptocoins. It would be a compliance nightmare for them.
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Here are a couple of tapes to watch if some of you guys are planning to bet on the main event. I really think Rozenstruik is being disrespected here. And Gane has like what.. 7 wins, no losses? I’m one of those people who believes that a fighter needs to lose in order to grow. But dunno if this is the spot to fade the favorite. Free Fight: Gane vs Junior Dos Santoshttps://www.youtube.com/watch?v=3uWta4RJ5TcFree Fight: Rozenstruik vs Junior Dos Santoshttps://www.youtube.com/watch?v=AZR5EVDE2m4Enjoy. Agreed. We have also witnessed this recently on the last main event battle between Razor Blaydes and Derrick Lewis. Many of the gamblers favored that it would be Blaydes. However, the winner was different hehehe. The result will be volatile because this is a heavyweight fight where fighters can knockout their opponents on any round. Where is @mich? He will like this. Montana, my sexy bet for this event hehe.
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@everyone. Where can we get more data on Asics for Grin and the sales data on them? I am speculating something hehehehe. There are old miners of bitcoin who are selling their coins since December. This might be their exit for good and might be on the search to become early adopters again on a new coin. I speculate that it might be Grin, speculating this on the coinbase transaction donations for Grin’s development team by old miners. The early adopters of bitcoin might be slowly supporting and developing the infrastructure for Grin. We also know that theymos is one of the early supporters. https://twitter.com/n3ocortex/status/1364699416012222465?s=12
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@Lorence.xD. However, will cryptocurrencies continue to be speculative investments? I am skeptical but how can ordinary people use this new type of currency if we are being regulated strictly from buying this?
Also, this might only be the beginning. The government might also tell you to declare your wallets or you will be penalized. This is not what a currency should be. A currency should be free to trade.
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@Theb. Agreed! This is clickbait and more promotion of speculative investments for the people who do not know what most of these projects are. Bitcoin and 2 other cryptocoins might be the only coins that are not scams, however, these coins also does not escape the classification of speculative investments. Their price move similar to penny stocks. Also, a long time supporter of bitcoin has also begun to speculate that bitcoin is failing presently. This is because of its volatility and its volatility is caused by illiquidity because of hoarding. This is caused by its monetary policy. We should be realists and continue to be skeptical and ask questions. Nassim Nicholas Taleb, The Black Swan author and frequent tweeter, wrote today that he’s in the process of dumping his Bitcoin.
“A currency is never supposed to be more volatile than what you buy & sell with it,” he said. “You can't price goods in BTC.”Source https://decrypt.co/57628/black-swan-nassim-taleb-dumps-bitcoin
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I'm a bit surprised people still want to see Manny Pacquiao fight. Granted I'm a casual fan, so that is probably why... but I could live the rest of my life without ever seeing this guy in the ring again with anyone and be quite happy. If you can't tell, I'm still mad I sat through the Mayweather vs Pacquiao fight. Was such a pathetic excuse for a mega fight... I'd rather see Tyson's old ass in the ring than any of these lightweights, even in their prime.
Pacman is an active fighter and has won recently versus Keith Thurman also an active, younger and also a ranked boxer in his division. He cannot be compared to Mike Tyson, a retired heavyweight boxer who can only fight in exhibitions. Pacman can be argued to be the Tom Brady of boxing hehehehe. Pacquiao was already the Tom Brady of boxing (8 weight division champ), even before Tom Brady clinches his 7th ring. All we can do is really wait, perhaps they're already communicating back and forth or Bob trying to lure boxing investors for this super fight. Although $50 million is just a change for him, but as I have said, he is very cunning and well-experience in this boxing world and probably working to get the purse from sponsors. Hehehe. However, some fans might argue that Floyd is greater than Pacman, similar to basketball’s argument on Jordan versus Lebron. It will be an argument made for many years hehe. In any case, someone mentioned that Pacman should fight Ryan Garcia. Tim Bradley does not agree in this interview. https://www.youtube.com/watch?v=T_Ti25ZyROg
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I speculate that this might only be the beginning. Stop ordinary people from trading anything related to cryptocurrencies and the cryptospace on mainstream brokers then move on to stop cryptocoin exchanges located in their jurisdictions from providing their services to ordinary people. London-listed forex and derivatives trading platform IG Group (IGG) is asking retail clients to close their open spread bet and contract for difference (CFD) positions on cryptocurrencies.
According to a post from an administrator on IG’s forum Sunday, the firm has now reached its internal product limit for exposure to cryptocurrencies, and as a result, will be removing them from its offerings. Until then, IG will be increasing its margin requirements, the admin said.Source https://www.coindesk.com/uk-broker-ig-group-stops-retail-crypto-derivatives-trades-after-fca-ban
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News update. Bitfinex, iFinex, Tether has settled with the New York Attorney General’s office with the amount of $18.5 million, an agreement to submit quarterly reports of their operation and leave the state of New York. I am skeptical how the NYAG can enforce the submission of quarterly reports. This is out of their jurisdiction. This is only a slap on the wrist for Tether and it also implies that the NYAG surrendered. However, without audits, the questions remain. The company behind both Bitfinex exchange and the stablecoin Tether, iFinex, has ended its nearly two-year battle with New York State.
Attorney General Letitia James announced Tuesday morning that Tether and Bitfinex will pay $18.5 million in fines and be required to submit quarterly reports about the state of their operation. They also must stop doing business with “any New York persons or entities”—that’s anyone who regularly trades in New York, and any company that’s headquartered or incorporated in New York.Source https://decrypt.co/58793/tether-bitfinex-settlement-takeaways
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It might be a little early, agreed. However, can we really predict when this bubble will burst? The overbullishness and the madness of the herd that acts like nothing in the cryptospace will dump should be concerning.
We should be realists and be ready for the next bear market.
I can't say like anyone else when this bull run will end, but I think it will last at least most of this year. We just recently came out of a bear market that has been going on for years, and now we need to expect a new one again? We need to be realistic, but we don’t need to panic every time a small correction happens - or invoke the bear market a few months after halving - it doesn’t make any sense. I don't know where you see the madness of the herd if this bull run is started by big players? The little ones mostly watch from the sidelines and wait for a correction because they have already sold everything they had... I am not invoking a bear market or telling everyone to panic. I only said we should be realists and prepare ourselves for the bear market. The madness of the herd is the stage of the bubble where people do not consider that a bear is waiting to pounce anytime hehe. You might be correct, however. We might not yet be in that stage.
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I'm a bit surprised people still want to see Manny Pacquiao fight. Granted I'm a casual fan, so that is probably why... but I could live the rest of my life without ever seeing this guy in the ring again with anyone and be quite happy. If you can't tell, I'm still mad I sat through the Mayweather vs Pacquiao fight. Was such a pathetic excuse for a mega fight... I'd rather see Tyson's old ass in the ring than any of these lightweights, even in their prime.
Pacman is an active fighter and has won recently versus Keith Thurman also an active, younger and also a ranked boxer in his division. He cannot be compared to Mike Tyson, a retired heavyweight boxer who can only fight in exhibitions. Pacman can be argued to be the Tom Brady of boxing hehehehe.
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I am not certain why everyone remains bullish on Ripple. Janet Yellen appears to be serious in cracking down on the cryptospace. She might have some success on bitcoin, however, it might be easier to take down a cryptocoin centralized towards a company that issued it. This article represents the sentiment on XRP. MoneyGram is stepping back from its partnership with Ripple Labs citing the legal uncertainty swirling around the blockchain startup’s XRP token.
The money transfer company said Monday it “is not planning for any benefit from Ripple market development fees in the first quarter” of 2021, a break from last year’s Q1 when MoneyGram banked $12.1 million in such fees.
Ripple has been paying MoneyGram to use the XRP (+2.38%) token in international settlement since 2019 and first engaging in a pilot agreement with the service in 2018. Since then, MoneyGram has netted $61.5 million in “market development fees” from Ripple.Source https://www.coindesk.com/moneygram-puts-relationship-with-ripples-xrp-on-hold
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If they do have a sample of 30 000 respondents, then this is something that can be considered very serious research - if we take into account the fact that there are usually 1000-2000 respondents in such surveys. As far as I can remember, US citizens have been very positive about Bitcoin in the past, and I am not at all surprised by this figure of as many as 50% of those who now consider such an investment safe. It is possible that such a percentage was greatly influenced by the fact that it is the large US companies that have launched a bull run in the last few months, as well as the fact that fewer and fewer US citizens believe in their national currency.
@acquafredda. This is the skeptical me speaking, however, on what I have observed from reading news articles during 2017, it is news similar to what you have posted that signals that the bubble is ready to burst.
Don't you think it's a little early for that? It seems to me that the whole thing is just beginning, especially since we are in the year after halving. If you’re already comparing 2017 to 2021, then you know for sure that the bubble burst at the end, not the beginning of the year. It might be a little early, agreed. However, can we really predict when this bubble will burst? The overbullishness and the madness of the herd that acts like nothing in the cryptospace will dump should be concerning. We should be realists and be ready for the next bear market.
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I speculate that the Biden administration will not only restrict ordinary people that do not meet their criteria from buying bitcoin and other cryptocoins, I reckon the bitcoin miners which are registered businesses are also in the list of a government shutdown. What is the Monero development team’s stance on Asic resistance presently? Will it continue to hard fork to stop Asics? I might have made a mistake in my support for embracing Asics for Aeon. It is only a small coin and it might not matter, however, giving up on mining with ordinary hardware might be a mistake. Yellen sounds warning about ‘extremely inefficient’ bitcoin
Yellen said there remain important questions about legitimacy and stability.
“I don’t think that bitcoin … is widely used as a transaction mechanism,” she told CNBC’s Andrew Ross Sorkin at a New York Times DealBook conference. “To the extent it is used I fear it’s often for illicit finance. It’s an extremely inefficient way of conducting transactions, and the amount of energy that’s consumed in processing those transactions is staggering.”Source https://www.cnbc.com/2021/02/22/yellen-sounds-warning-about-extremely-inefficient-bitcoin.html
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@Cryptotourist. It sounds similar to the creation and rise of bitcoin? Agreed. It was a community before it became commercialized and money oriented.
However, if the bitcoin miners and Asic manufacturers cared for their businesses, they should diversify to other cryptocoin projects. A project where they can mine infinite coins hehehe.
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@acquafredda. This is the skeptical me speaking, however, on what I have observed from reading news articles during 2017, it is news similar to what you have posted that signals that the bubble is ready to burst. Remember Brian Kelley? He taught his viewers how to buy XRP live on CNBC when the price was on the all time high hehehehehe.
Let us be realists and not surrender to the madness of the herd. We have experienced the bear market. They only came in during a bull market. They will become loyal community members of their coin by becoming bagholders. We certainly all have experienced this. They also will hehe.
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$10 million is a bit low isn't it? Is this amount even confirmed? I heard that Manny is asking for $40 million. If he manages to get a fight against Floyd (looks impossible as of now) or GGG (the weight difference is an issue), then he can easily rake in at least $100 million. Anyway, if he wants to use the fight against Terence Crawford as a preparation, then it is OK. In that case he don't need to worry much about the money.
It is very low if we consider that Terrence Crawford is also a champion and the best boxer in his weight division. I reckon $30 million for Pacman and $20 million for Terrence Crawford would be fair. However, Pacman’s team might be speculating that Crawford is eager for this fight. I don't think it will happen, $20 million? His net worth according to https://www.essentiallysports.com/tag/terence-crawford/ is $8 million only,"For his fights against Jose Benevidez Jr and Jeff Horn, he earned a combined $6.625 million." So this will be his biggest pay check if the fight happens and he shouldn't push his luck with $20 million because he won't get close to that in his next fight, not even fighting in the next 2-3 years. However, who is Jose Benavidez or who is Jeff Horn if we compare these names to Manny Pacquiao? The money created from a fight like Pacman versus Crawford will be much greater than all of Terrence Crawford’s last fights. Also, who else can give Pacquiao an opponent that would induce interest? Only Crawford and Errol Spence, I reckon.
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There it is. Right from the dragon’s mouth hehe. What investor protection certainly implies is you cannot use your own money and trade it with another form of money without the government’s permission. This is my prediction, the cryptospace will be the bankers and the rich’s playground. They will remove you from participating in it unless you meet their criteria. The recently appointed US Treasury Secretary Janet Yellen called Bitcoin a “highly speculative asset” and pointed to the asset’s high volatility in an interview with CNBC on Thursday.
When asked if cryptocurrencies like Bitcoin need a special regulatory environment, Yellen said that the authorities are focusing on protecting investors and ensuring that cryptocurrencies are not used in criminal activity.
“I think it’s important to make sure that it is not used as a vehicle for illicit transactions and that there’s investor protection,” said Yellen.Source https://decrypt.co/58248/janet-yellen-calls-bitcoin-a-highly-speculative-asset
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