Is anyone else starting to become a bit worried? mod note in first post

cnocbui

https://www.boards.ie/discussion/comment/118688254#Comment_118688254

Maybe I was being ironic, you know, using 'thank' instead of 'blame'.

I am doing very well on paper. Most spectacular performance of any investment I have made.

Donald Trump

https://www.boards.ie/discussion/comment/118688983#Comment_118688983

That's fair enough. As I said, I might have misunderstood your intentions and mixed it up with other posters who were explicitly saying they were happy it was going down.

I genuinely hope you do well with it. I watch it but I don't put money into it and I don't have any regret when it goes up. I also wouldn't like to see people lose money if it went down drastically. I would hope that if it were to tank, that people would be able to get out (even though I recognise that getting out means someone else buying in). I don't mind seeing the big guys getting burned.

fritzelly

TBH The Trump doesn't lambast or ridicule people and talks sense regards investing in general - so he is a reasonable voice in a sea of hyperbole by some

Potatoeman

It’s limited supply means it’s only going to increase in price overtime. It may have dips and even prolonged slumps but it’s supply being finite means it will increase in price. To understand the technology better even look at a miner running then realise it can’t be shut down as they are everywhere. It’s that simple. The uncertainty is 10-20 years time as technology improves.

Those E.T. The Extra Terrestrial games on the Atari were limited supply to.

And now they're worth a fortune.

Donald Trump

https://www.boards.ie/discussion/comment/118691575#Comment_118691575

I might do a limited edition and sell 100 jars of my own sh1te. They will be all come with a serial number {0-99}, and a contract prohibiting me from producing any more.

Do ya wanna buy one? Limited supply so they'll only ever go up in value

(The weird thing is that if I was an "artist", that might actually be correct!)

Any of ye think the oul' BTC might get a temporary lift from Western based Russians trying to bypass their western based wealth from being seized? I'd say they probably have better ways around them though

antimatterx

https://www.boards.ie/discussion/comment/118703467#Comment_118703467

How I miss the ignore function on the old site. You talk such shite.

Donald Trump

https://www.boards.ie/discussion/comment/118703801#Comment_118703801

You're free to believe that "finite supply" alone is sufficient for someone to perpetually increase in value if ya want. I shouldn't need to point out to you (although maybe you aren't aware) but there are literally thousands of "coins" out there with finite supply that haven't been increasing in value!

Any opinion on the other point? I personally don't think it will lift the price temporarily, but I'd imagine that there will be some Russians with assets in Western Banks that might be worried about being seized who might instead like to exchange them for tokens.

As I said though, there are probably better ways to liquidate that money.

Donald Trump

There you go. Money from Russians apparently actually did cause it to spike. I didn't think there would be enough volume to do it. I'd expect any spike that is caused by that to pull back fairly quickly unless the jump pulls enough others into it to keep it pumping up for a little bit longer.

https://www.bloomberg.com/news/articles/2022-02-28/bitcoin-volume-spikes-in-russia-and-ukraine-as-sanctions-hit

https://nypost.com/2022/02/28/bitcoin-surges-9-3-over-demand-from-russians-and-ukrainians/

Thargor

The NY Post lol, was the National Enquirer too busy covering the latest Princess Diana sighting? Anyone with the slightest clue knows you can take literally any position you want in crypto and a quick Google will find you plenty of clickbait articles to support your position, it doesnt mean you arent as clueless as all the other white knights come to save us, was Russia invading in the October and December spikes in the Bloomberg piece aswell?

If the bear is still alive it just means its time to buy more, stop being so irritating.

Donald Trump

https://www.boards.ie/discussion/comment/118714189#Comment_118714189

The BB one is probably behind a paywall if you don't have access. Maybe you have it from your work but not everyone would. I think it's against boards rules to copy and paste full articles. So I googled for an alternate source as some on here seem like they'd have difficulty using google. I couldn't find anything on the metro (if that's the one ya usually get your news from)

Do ya have any opinion yourself or reason why you think it's wrong?

dirk_dangler

I would be worried about CBDC's (central bank digital currency)

The Russian SWIFT ban may have unintended consequences. Countries could dump their Dollar holdings, might be the reason for the crypto market pump?

From Bloomberg

Western leaders have agreed on an ambitious move to punish Russian President Vladimir Putin for invading Ukraine: Cut some of Russia’s largest banks off from the international financial system by excluding them from SWIFT, the messaging service that facilitates the vast majority of money transfers globally.

If only the logic of their initiative matched its boldness. Although it will deal Russia a brutal blow, it will also wreak havoc elsewhere in a way that traditional sanctions do not. The allies should be mindful of setting a dangerous precedent with this historic intervention.

The Society for Worldwide Interbank Financial Telecommunication plays a crucial role in international trade and investment. The Belgium-based cooperative, overseen by a global group of central banks, provides a secure network and standardized language for sending and receiving payment instructions — allowing for much larger volumes and greater automation than the error-prone telexes that prevailed before its inception in the 1970s. The actual money moves separately, wending its way through a web of correspondent banks before reaching its destination.

Suppose a Detroit-based machine shop wants to pay an aluminum supplier in Russia. Its local bank sends a SWIFT message to a larger bank — let’s say Citibank — with all the necessary information, including the alphanumeric address of the receiving institution. This sets into motion a series of transactions — moving funds, say, from the local bank’s account at Citi to a European institution such as Deutsche Bank to the Russian bank and ultimately to the supplier.

Financial sanctions usually target the latter, money-moving part. Consider last week’s U.S. measures against Sberbank, Russia’s largest: They require American banks to close any correspondent accounts, effectively cutting Sberbank and its clients off from the U.S. dollar financial system. Law-abiding banks won’t hold or move funds for the sanctioned institutions, no matter how many SWIFT messages they send.

Such traditional measures also have flexibility to limit collateral damage. The U.S. sanctions, for example, include an exception for Russian energy exports, to avoid aggravating a surge in global oil and gas prices that has weighed particularly heavily on Europe. They also make allowances for existing business — so Sberbank’s foreign creditors, for example, can get their loans repaid.

Exclusion from SWIFT is a much blunter weapon. It doesn’t on its own prevent foreign banks from dealing with their Russian counterparts, but it does severely impair the Russian banks’ ability to exchange any payment instructions whatsoever with thousands of SWIFT-connected institutions in more than 200 countries. To some extent, Russia has prepared for this by setting up its own messaging system and trying to link up with China. Russian banks can also attempt to transmit payment instructions by phone or fax. But such workarounds can’t support anywhere near their current volumes of business.

The repercussions are potentially severe within Russia and abroad. Without the exceptions that traditional sanctions allow, the excluded banks will struggle to process payments for exports to Europe, impeding Russian trade — possibly including energy exports to Europe. Payments through the sanctioned banks to all Russian creditors, including holders of Russian stocks and bonds, will at the very least be disrupted, if not shut down completely.

Aside from the immediate collateral damage, excluding Russian banks from SWIFT risks longer-term consequences for international finance. As with any network (think Facebook), the value of SWIFT depends on the number of banks that use it. To that end, the cooperative seeks to encourage the broadest possible participation by maintaining neutrality. Only Iran, which was already isolated financially, has ever been cut off. The example of Russia could prompt others — such as China — to turn to alternatives, fragmenting the payments system and potentially even undermining the U.S. dollar’s dominance as the global reserve currency. One could even imagine a future in which rival nations turned similar financial weapons against the U.S.

So far, at least, the decision to focus on specific institutions rather than the entire country will mitigate the immediate blowback, allowing some necessary flows through unaffected banks. Still, Europe will bear the brunt: Its banks are more exposed to Russia, and it’s more dependent on imports of Russian natural gas. The U.S. must provide what support it can — for example, by stepping up efforts to supply liquefied natural gas. It also needs to resist the urge to unilaterally wield access to the dollar system as a geopolitical bludgeon, so it can credibly argue that harsh measures like these will be used only in extreme scenarios.

Western leaders should be wary of going further and ejecting Russia from SWIFT completely. The effect would be utterly indiscriminate: Supplies of Russian oil, gas and other commodities could collapse, foreign creditors would suffer heavy losses, and even Russians who scorned Putin’s actions and sought to emigrate would have to resort to laundering techniques to get their money out of the country. Putin might well interpret such a cutoff as an act of war and respond accordingly.

As the conflict continues, the international community should work together to coordinate more traditional sanctions aimed at an increasing number of Russian banks, which would impose similarly harsh punishment without such dire unintended consequences — and on measures (such as those already announced) aimed at limiting the Russian central bank’s ability to support targeted institutions. Western nations’ desire to do something big and bold is correct, but they — and the U.S. especially — should be wary of taking actions that they’ll regret.

CorkRed93

https://www.bloomberg.com/news/articles/2022-03-11/hedge-fund-fir-tree-bets-big-with-short-of-stablecoin-tether

Hedge Fund Fir Tree Bets Big With Short of Stablecoin Tether

hmmmm

buzzerxx

Has anyone here had any dealings or info on Kryptex.org Miner?

fritzelly

https://www.boards.ie/discussion/comment/118858383#Comment_118858383

Why bother when there are plenty of better miners out there that you can control yourself?

antimatterx

And down we go again

erlichbachman

Looks like its buying time again, anywhere between now 40 and 38 has to be good

CorkRed93

every time it drops, its a time to buy.

CorkRed93

nasdaq rises bitcoin rises , daq falls so does the cultcoin.

Hearing more and more noise about impending recessions. How do people think crypto will do? I'm not optimistic. For all the talk of bitcoin being some inflation hedge, I think it will crash with everything else

Potatoeman

https://www.boards.ie/discussion/comment/118914156#Comment_118914156

It’s not good, inflation with interest rate hikes and a shrinking global economy not to mention increasing fuel and food prices which could lead to famine in ME and Africa. People will have less money but money printing may see large investors look for alternatives.

CorkRed93

inflation is at its highest since the 70s and bitcoin is down 20k+ from its highs in 2021. its simply not a hedge, its a tech stock rife with manipulation.

Slideways

Bitcoin fanbois

Market goes up “yay, look at it run, I’m making bulk monies”

Market crashes “Wayhey!! Great news, time to buy more”

FFVII

https://www.boards.ie/discussion/comment/118915086#Comment_118915086

Lol

Thargor

https://www.boards.ie/discussion/comment/118915086#Comment_118915086

Works for me (with Ethereum), many 1000s % gains so far, you have a better strategy to offer?

Potatoeman

https://www.coindesk.com/business/2022/04/12/former-ethereum-developer-virgil-griffith-sentenced-to-5-years-in-prison-for-north-korea-trip/

For a smart guy this is pretty dumb.

If that implies that Ethereum can be used for violating sanctions in general then that is bad news for Ethereum.

Donald Trump

I thought this was a funny story. He'll probably get bid more for it at some stage.

TLDR summary. Man buys NFT for $2.9m . Later lists it for resale at $48m, confident he'd be offered at least $25m. 50% of the proceeds over $25m were to go to charity. Highest bid at auction close was $280.

https://www.coindesk.com/business/2022/04/13/jack-dorseys-first-tweet-nft-went-on-sale-for-48m-it-ended-with-a-top-bid-of-just-280/

Potatoeman

https://www.boards.ie/discussion/comment/118922862#Comment_118922862

He was discussing how crypto in general could be used to bypass sanctions, but that would be BTC and privacy coins. Eth going POS would be a less viable option.

tldr: don’t go to North Korea and give crypto talks if you want to live and work in the US.

Potatoeman

https://www.coindesk.com/policy/2022/04/14/eus-crypto-activism-gets-mixed-reception-at-paris-blockchain-week/

This is unworkable. Politicians making laws with no understanding of what’s required from the exchange or regulators.