Is anyone else starting to become a bit excited?

Blueshoe · 27-08-2019 07:58PM

Recently updated my binance app. What is the big gold "M" beside some of the pairs?

JJJJNR · 27-08-2019 08:42PM

JohnnyFlash wrote: »

I’d say they plan to exit scam fairly soon.

they were giving 15 million dollars of seed capital to crypto projects a year ago, hello matic. they are now bridging their blockchain with other chains so hardly planning on going anywhere except remaining very much in crypto.

SauNewb · 27-08-2019 09:28PM

Blueshoe wrote: »

Recently updated my binance app. What is the big gold "M" beside some of the pairs?

It means you can trade on margin.

I tried it. Borrowed tether to buy other coins this weekend. They allow you to leverage 3:1. The interest on the loan is low.

I have lost money so far.
It is good to increase exposure without risking more capital.

makeorbrake · 27-08-2019 09:56PM

SauNewb wrote: »

It means you can trade on margin.
They allow you to leverage 3:1. I have lost money so far.
It is good to increase exposure without risking more capital.

Regular trading frightens the daylights out of me - for margin trading, I'd need my own personal defibrillator

Blueshoe · 27-08-2019 10:32PM

SauNewb wrote: »

It means you can trade on margin.

I tried it. Borrowed tether to buy other coins this weekend. They allow you to leverage 3:1. The interest on the loan is low.

I have lost money so far.
It is good to increase exposure without risking more capital.

Nice. Thanks for explaining.

cnocbui · 28-08-2019 03:18AM

Ouch!

I can't imagine how someone could bring themselves to make such a transfer. Typical US court happy to fleece foreigners.

The Australian man who claims to have invented bitcoin a decade ago submitted false documents and lied in a legal dispute with the estate of his former partner, a judge ruled, adding that Craig Wright has to surrender more than $US4 billion ($5.9 billion) of the cryptocurrency.
Australian Craig Wright claims to have invented bitcoin.

Australian Craig Wright claims to have invented bitcoin.Credit:AP

US Magistrate Judge Bruce Reinhart in Florida, ruled on Monday that the late Dave Kleiman owned half of all bitcoins that Craig mined through 2013, and half of all intellectual property he created, according to a court transcript. That would give title to more than 410,000 bitcoins to Kleiman's estate. One bitcoin was worth $US10,162 on Tuesday.

https://www.smh.com.au/business/markets/australian-who-claims-to-have-invented-bitcoin-ordered-to-surrender-5-9b-of-the-cryptocurrency-20190828-p52lff.html

Bob24 · 28-08-2019 08:13AM

cnocbui wrote: »

Ouch!

I can't imagine how someone could bring themselves to make such a transfer. Typical US court happy to fleece foreigners.

The US have several ways to coerce him into paying I suppose. First one coming to mind is that if he doesn’t want to end up in an American jail he has to mostly stay in his home country and can’t travel to any country which has an extradition treaty with the US for fear of being arrested and sent there.

Bob24 · 28-08-2019 08:22AM

stockshares wrote: »

Binance is launching a lending platform on 28th August.
15% apr if you lend out your BnB.
https://www.binance.com/en/support/articles/360032921211

And now they are launching futures trading in September: https://cointelegraph.com/news/binance-ceo-futures-trading-platform-to-launch-in-september

cnocbui · 28-08-2019 11:11AM

Bob24 wrote: »

The US have several ways to coerce him into paying I suppose. First one coming to mind is that if he doesn’t want to end up in an American jail he has to mostly stay in his home country and can’t travel to any country which has an extradition treaty with the US for fear of being arrested and sent there.

Well if I had been in his shoes, I would never have rocked up to a US court in the first place.

This is a civil matter - he can't be extradited. Go to France - nice food and they are not currently on good terms with the US.

Dohnjoe · 28-08-2019 11:23AM

Wow he really did stitch himself up

Wright claimed to the court that he couldn’t access the bitcoin because he doesn’t have a list of the public addresses of that bitcoin. He claimed in 2011, after seeing the cryptocurrency had begun to be associated with drug dealers and human traffickers, he put the bitcoin he mined in 2009 and 2010 into an encrypted file and into a blind trust. The encrypted key was divided into multiple key slices, and the key slices were given to Kleiman who distributed them to people through the trust.

Wright said this meant he could not decrypt the file until he gets access to the key from a bonded courier who will arrive in January 2020 – a claim Wright has made before in claiming to be Satoshi Nakamoto, the pseudonymous creator of bitcoin.

In the judgment, Judge Bruce Reinhart said Wright had not proved he could not comply and obtain the bitcoin. He said Wright made inconsistent statements and the whole story was “inconceivable” that he’d had a Dr Frankenstein-like revelation when his creation “turned to evil”.

“During his testimony, Dr. Wright’s demeanor did not impress me as someone who was telling the truth. When it was favorable to him, Dr. Wright appeared to have an excellent memory and a scrupulous attention to detail. Otherwise, Dr. Wright was belligerent and evasive,” Reinhart said.

https://www.theguardian.com/technology/2019/aug/28/australian-who-says-he-invented-bitcoin-ordered-to-hand-over-up-to-5bn

Bob24 · 28-08-2019 11:56AM

cnocbui wrote: »

This is a civil matter - he can't be extradited. Go to France - nice food and they are not currently on good terms with the US.

Agree on principle, but if they really want to do it (and given the amounts involved), I think they could find ways. Might be OK for a while but living with this potential threat will be uncomfortable become increasingly uncomfortable I think.

stockshares · 28-08-2019 12:41PM

Chinas Crypto launch
https://www.forbes.com/sites/michaeldelcastillo/2019/08/27/alibaba-tencent-five-others-to-recieve-first-chinese-government-cryptocurrency/#26f4d0e81a51

from cryptocompare
Up to Eight Institutions In on Chinese Cryptocurrency Launch

"China’s central bank will launch its state-backed cryptocurrency within the coming months, Forbes reported, citing independent research Paul Schulte. A former global head of financial strategy for China Construction Bank, Schulte told Forbes that “the largest bank in the world, the Industrial and Commercial Bank of China, the second largest bank in the world, his former employer, the Bank of China, the Agricultural Bank of China; two of China’s largest financial technology companies, Alibaba and Tencent; and Union Pay, an association of Chinese banks, will receive the cryptocurrency.”

Schulte’s information was confirmed by a second, unnamed source who is involved in the development of the cryptocurrency—which is being dubbed DC/EP (Digital Currency/Electronic Payments). This source added that an eighth institution could also be among the first tier of recipients listed in the above paragraph, and that the cryptocurrency may possibly launch on November 11 (i.e., Singles Day, China’s—and indeed the world’s—biggest shopping holiday of the year in terms of sales turnover)."

cnocbui · 28-08-2019 01:07PM

China issues debt backed Crypto - the project is said to be managed by Yee Haw.

stockshares · 28-08-2019 03:17PM

cnocbui wrote: »

China issues debt backed Crypto - the project is said to be managed by Yee Haw.

Binances opinion on it
https://www.binance.com/en/amp/blog/373418172457308160/Binance-Research-Examines-What-Chinas-Digital-RMB-Might-Look-Like

cnocbui · 28-08-2019 03:28PM

China would never go with something that allowed for capital outflows, it therefore would necessarily be highly restricted so would be self-defeating.

Bob24 · 28-08-2019 03:56PM

cnocbui wrote: »

China would never go with something that allowed for capital outflows, it therefore would necessarily be highly restricted so would be self-defeating.

I am curious to see what they come up with. As you said it would have to include some sort of capital control, but on the other hand they most likely will want to use it as a USD/Swift alternative for international transactions so it can’t be too restrictive.

Maybe it will include a permission system with different profiles of users which have different type of restrictions (domestic individual, domestic state entity, domestic enterprise, foreign individual, foreign enterprise, etc).

makeorbrake · 28-08-2019 06:43PM

cnocbui wrote: »

China would never go with something that allowed for capital outflows, it therefore would necessarily be highly restricted so would be self-defeating.

Yup, it certainly won't be a decentralized crypto in any case. So for the most part, makes no odds to the development of actual crypto as to what they come out with.

Bob24 · 28-08-2019 09:12PM

makeorbrake wrote: »

So for the most part, makes no odds to the development of actual crypto as to what they come out with.

Indeed probably not for the development of Bitcoin like crypto which are meant to be decentralised and out of government controls. But if they come up with something which is both flexible enough to be used in international trade and ease up digital payments domestically while giving the government some control, it could actually become a template for other nations in terms of crypto/digital currency strategies.

stockshares · 29-08-2019 07:36AM

Coinbase report on the Leaders in Crypto Education
https://blog.coinbase.com/highereducation-c4fb40ecbc0e

]

JJJJNR · 29-08-2019 08:27AM

They give and they take away.. I would have transferred the whole lot into bitcoin and first flight out of here.

https://www.buzz.ie/news/co-wexford-man-e200m-richer-due-technical-error-336157

JJJJNR · 29-08-2019 09:56AM

P.s. another accumulation period.. Load up crypto bros.

q85dw7osi4lebg · 29-08-2019 10:13AM

Just bought the dips dip

vargoo · 29-08-2019 10:33AM

JJJJNR wrote: »

P.s. another accumulation period.. Load up crypto bros.

Nope, not unless they finally drop it to 6.

Bob24 · 29-08-2019 10:59AM

stockshares wrote: »

Chinas Crypto launch
https://www.forbes.com/sites/michaeldelcastillo/2019/08/27/alibaba-tencent-five-others-to-recieve-first-chinese-government-cryptocurrency/#26f4d0e81a51

from cryptocompare
Up to Eight Institutions In on Chinese Cryptocurrency Launch

"China’s central bank will launch its state-backed cryptocurrency within the coming months, Forbes reported, citing independent research Paul Schulte. A former global head of financial strategy for China Construction Bank, Schulte told Forbes that “the largest bank in the world, the Industrial and Commercial Bank of China, the second largest bank in the world, his former employer, the Bank of China, the Agricultural Bank of China; two of China’s largest financial technology companies, Alibaba and Tencent; and Union Pay, an association of Chinese banks, will receive the cryptocurrency.”

Schulte’s information was confirmed by a second, unnamed source who is involved in the development of the cryptocurrency—which is being dubbed DC/EP (Digital Currency/Electronic Payments). This source added that an eighth institution could also be among the first tier of recipients listed in the above paragraph, and that the cryptocurrency may possibly launch on November 11 (i.e., Singles Day, China’s—and indeed the world’s—biggest shopping holiday of the year in terms of sales turnover)."

The Chinese state controlled English language newspaper is now saying on Twitter that the above report is incorrect.

https://twitter.com/globaltimesnews/status/1166544019192549376?s=20

Strange ...

Dohnjoe · 29-08-2019 04:13PM

JJJJNR wrote: »

P.s. another accumulation period.. Load up crypto bros.

"Crypto sale! big discounts! time to load up!" - 2018

Blueshoe · 29-08-2019 04:24PM

JJJJNR wrote: »

P.s. another accumulation period.. Load up crypto bros.

Ahh. Is it though?

Iv been sitting in fiat for a good while now. Burned enough of times.
The market jumps unpredictability too often and regularly to the downside in more recent times.

It's a bag of pïss

makeorbrake · 29-08-2019 04:36PM

Blueshoe wrote: »

Ahh. Is it though?

It's not quite there for me yet. A bit further to go.

There's a lot to be positive about - surrounding crypto - but it remains the wild west. But with high risk and volatility comes great opportunity also. You can't have one without the other regrettably.

I have not been comfy with buying at these levels as the potential on the downside is too big. I'll probably learn from last year and go in partially - leaving some scope to buy further if it drops further (rather than having bought in one hit, then finding i was a smidgen too early and having to pass up the opportunity of buying the cheapest of BTC as I would have been over-extended on the one asset).

We can all get over-exuberant also (me included). That's what seems to be happening recently in crypto circles. It all seems logical as to how things will progress but for people that buy into that and the tech, I think there's a lot of potential to get far too far ahead of ourselves.

Things can take longer than we expect to happen but then when they actually happen, things roll faster than expected.

Blueshoe · 29-08-2019 04:42PM

makeorbrake wrote: »

It's not quite there for me yet. A bit further to go.

There's a lot to be positive about - surrounding crypto - but it remains the wild west. But with high risk and volatility comes great opportunity also. You can't have one without the other regrettably.

I have not been comfy with buying at these levels as the potential on the downside is too big. I'll probably learn from last year and go in partially - leaving some scope to buy further if it drops further (rather than having bought in one hit, then finding i was a smidgen too early and having to pass up the opportunity of buying the cheapest of BTC as I would have been over-extended on the one asset).

We can all get over-exuberant also (me included). That's what seems to be happening recently in crypto circles. It all seems logical as to how things will progress but for people that buy into that and the tech, I think there's a lot of potential to get far too far ahead of ourselves.

Things can take longer than we expect to happen but then when they actually happen, things roll faster than expected.

People used rant on about Blockchain requiring crypto to exist. That is untrue and a simple Google search of Blockchain brings up endless results of companies using and or in development of their own systems. No unregulated and manipulated crypto currency required

Blockchain is promising
Crypto currency market is looking like junk

My opinion which obviously means nothing but that's what it is

makeorbrake · 29-08-2019 04:46PM

Blueshoe wrote: »

People used rant on about Blockchain requiring crypto to exist. That is untrue and a simple Google search of Blockchain brings up endless results of companies using and or in development of their own systems. No unregulated and manipulated crypto currency required

Blockchain is promising
Crypto currency market is looking like junk

My opinion which obviously means nothing but that's what it is

There are use cases for all types of cryptocurrency. From permissioned and private to decentralized and public and everything in between. As an example, I don't particularly like Ripple but it's already been proven to have a use case. It may or may not end up being used so much - but the tech will i.e. some project will use blockchain - it just may be done from within the original banking cartel.

The same with Libra - I both detest and welcome it in equal measures. They can do tremendous damage with it (whilst accidentally doing plenty of good with it too).

It's a question of using the right tools for the job.

Blueshoe · 29-08-2019 04:48PM

makeorbrake wrote: »

There are use cases for all types of cryptocurrency. From permissioned and private to decentralized and public and everything in between. As an example, I don't particularly like Ripple but it's already been proven to have a use case. It may or may not end up being used so much - but the tech will i.e. some project will use blockchain - it just may be done from within the original banking cartel.

The same with Libra - I both detest and welcome it in equal measures. They can do tremendous damage with it (whilst accidentally doing plenty of good with it too).

It's a question of using the right tools for the job.

I agree. The companies themselves may have success in the business world but the market is junk. Its basically buy and hope.

Is anyone else starting to become a bit excited?

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