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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@Cryptotourist. It would depend on the miners, I reckon. They should presently mine Grin at cost and sacrifice profit at present to cause the coin to be more valuable and to be an economic success in the future.
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Many of the replies in this thread hurt my eyes hehe. This is either they only want to post for posting sake without research or they do not care.
@MUG1WARA. ETH holders should hope that Ethereum 2.0 will be released this year before it is too late. BNB is coming for Ethereum’s market share. Lower fees matter for a decentralized smart contract network and developers will go to where people will have the best user experience. High fees is an impairment to this.
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@acquafredda. This is not about what they get or do not get. They might not even care if they get it or not get it, I reckon. They only publish news depending on what is the sentiment of the herd for any given time. They only want your clicks!
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@acquafredda. This is not about what you care or do not care about. This is about bitcoin’s own issuance being a danger or becoming a failure in itself. Also, I am not directly comparing bitcoin to premined altcoins. I love bitcoin, it is the best project in the cryptospace. However, its issuance is becoming very comparable to premined altcoins. I would also argue on the statement that the bitcoin market is mature. It is still very much volatile and behaves similar to a penny stock. In any case, the argument about the failing issuance on bitcoin is not new. Wei Dai has argued about this before already. I would consider Bitcoin to have failed with regard to its monetary policy (because the policy causes high price volatility which imposes a heavy cost on its users, who have to either take undesirable risks or engage in costly hedging in order to use the currency). (This may have been partially my fault because when Satoshi wrote to me asking for comments on his draft paper, I never got back to him. Otherwise perhaps I could have dissuaded him (or them) from the "fixed supply of money" idea.)Source https://www.lesswrong.com/posts/P9jggxRZTMJcjnaPw/bitcoins-are-not-digital-greenbacksI defend my current stance and in any case the issuance of bitcoin gave EVERYONE over an 10 years lifespan the possibility to acquire them at any possible acquisition cost. Those who were smart enough to see the future bought and held hard whatever the circumstances. Now big sharks are rushing to buy as much as they can still I fail to see any resemble with a pre-mined ETH for example. That is the way I see it. That is not the point of the argument because it still does not change that bitcoin’s monetary policy is flawed. Also, did it really give everyone a chance? The limited supply argues against this. A limited supply cryptocoin only gave early adopters the chance to get ahead and get rich. In any case, let us agree to disagree and remember this argument in 10 years. |
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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. |
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Forbes are sending out mixed signals.... before the whole Tesla and PayPal buy-in ..they were all Doom and Gloom and Bitcoin is going to collapse ...and now that the big boys are climbing in..they did a whole 180 degree ...and they are suddenly, "Bitcoin is going to Boom soon"  I guess it takes large corporations to open their eyes to the future of money? Well... we know "big" media always have an agenda... so the powers behind these platforms are obviously hyping Bitcoin for some reason now..(which is dangerous) This is how the media works. It will always publish articles according to which mood will give them more clicks and views. In any case, doom and gloom will be back when the bubble bursts. Also, I predict those people who larped for Saylor and Elon as heroes of bitcoin will be very disappointed. |
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@acquafredda. This is not about what you care or do not care about. This is about bitcoin’s own issuance being a danger or becoming a failure in itself. Also, I am not directly comparing bitcoin to premined altcoins. I love bitcoin, it is the best project in the cryptospace. However, its issuance is becoming very comparable to premined altcoins. I would also argue on the statement that the bitcoin market is mature. It is still very much volatile and behaves similar to a penny stock. In any case, the argument about the failing issuance on bitcoin is not new. Wei Dai has argued about this before already. I would consider Bitcoin to have failed with regard to its monetary policy (because the policy causes high price volatility which imposes a heavy cost on its users, who have to either take undesirable risks or engage in costly hedging in order to use the currency). (This may have been partially my fault because when Satoshi wrote to me asking for comments on his draft paper, I never got back to him. Otherwise perhaps I could have dissuaded him (or them) from the "fixed supply of money" idea.)Source https://www.lesswrong.com/posts/P9jggxRZTMJcjnaPw/bitcoins-are-not-digital-greenbacks |
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I was so surprise with the price, it's really pumping like crazy and I think BNB is already in the place it should be. It's a working platform with a lot of major development, so this isn't just a hype but the reality of the future of this coin, it maybe dump for a while but it has already taken its spot and I believe it will come back at this ranking.
However, I don't think it will be able to dethrone ETH.
Many people cannot picture it in their minds at present, however, when Defi projects like Uniswap, Sushiswap and others begin to transfer to Binance smartchain, I predict we would be witnessing a great migration of developers. Binance also has the money for marketing and promotions. This is a very underestimated fact. The pump we are witnessing now might only be the beginning. |
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78% of bitcoin that do not go on sale it is a LOT! The potential supply is very low if those figures are correct. We all know that at some point daddy btc will cool down a bit and to avoid troubles a small stop loss could be put in place as a small insurance cover.
It can be presently argued that bitcoin’s issuance has become something similar to some premined altcoins. Why do you say that? I do not think so and I would never make such a comparison  There is a big portion of bitcoin holders who saw this coming before others and I see no problem in the fact they were able to concentrate some insane amounts of btc. I really do not get your point. I am only saying that the issuance is beginning to look similar to premined altcoins if much of the coins are held by the whales with the biggest wallets. Are you implying that a large concentration of the coins towards the rich is okay for a healthy ecosystem? |
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