[Finance] The cryptocurrency (Bitcoin etc) thread

[Titanic]

I know very little about it (other than an interest in blockchain technology), but this came up on BBC News this morning...

https://www.bbc.co.uk/news/business-57632831

Binance, the world's biggest crypto-currency exchange, has been banned by the UK's financial regulator.

The Financial Conduct Authority (FCA) has ruled that the firm cannot conduct any "regulated activity" in the UK.

It also issued a consumer warning about Binance.com, advising people to be wary of adverts promising high returns on cryptoasset investments.

 

[beorhthelm]

I know very little about it (other than an interest in blockchain technology), but this came up on BBC News this morning...

https://www.bbc.co.uk/news/business-57632831

Binance, the world's biggest crypto-currency exchange, has been banned by the UK's financial regulator.

The Financial Conduct Authority (FCA) has ruled that the firm cannot conduct any "regulated activity" in the UK.

It also issued a consumer warning about Binance.com, advising people to be wary of adverts promising high returns on cryptoasset investments.

its a shame BBC along with other news providers cant read. nothing has been banned, FCA states that the exchange isnt regulated and there are no protections using it. the FCA release itself says "Consumer warning..."

 

[sydney]

Battle to reclaim that $34k resistance zone. Personally I don't think it will and expect a drop back, range for a bit, then off to the races again toward end of Summer.

do you have your eye on anything in particular ....i have some Kai and Xrp which have lost about 30% so i am looking to double up at some stage....

 

[CheeseRolls]

The last 6 weeks have been really messy, with bitcoin crashing and everything else following. I am down almost a third, which means I now need 50% gains to break even. No panic, I have time as an ally fortunately.

My portfolio is now sprawling and there are a few for the chop, starting with SXP, where it now looks like a token burn isn't happening until September. I have been focussing on staking and experimenting with providing liquidity. Whilst this hasn't really stemmed my losses, I think it may be beneficial if and when things go into reverse.



I will figure this out.

 

[KeegansHairPiece]

Battle to reclaim that $34k resistance zone. Personally I don't think it will and expect a drop back, range for a bit, then off to the races again toward end of Summer.

Seems to have maintained at $35-36k average for BTC since 19 May. My pot has recovered to only a marginal loss from looking a bit bleak at the start of the w/e. How long will this flat line continue?

 

[chiefkickass]

Anyone invested in AMC? Missed the 500% increase in may and it's dropped back 20% from it's high but many YT videos suggesting still a HODL and could treble again by end of July when a lot of options expire

Been in for about 5 months. Bought a few at 8 to 10 bucks. I think this week could get very interesting considering AMC is now on the threshold list as FTDs haven't been cleared. Hoping it will squeeze before GME so I can sell and go all in on GME.

 

[beorhthelm]

despite gains today, expecting one last leg down to around 31500-32000 he wyckoff formation to complete. everyone is watching for this, so it has to happen right? (have theory the large shorting on Friday was deliberate to produce the next bottom, it sold and stopped selling in quite a controlled fashion).

i have called the last two bottoms wrong, selling just before the reversal, so i might be a bit of a inverse indicator (i dont know how to trade against myself)

 

[Marshy]

despite gains today, expecting one last leg down to around 31500-32000 he wyckoff formation to complete. everyone is watching for this, so it has to happen right? (have theory the large shorting on Friday was deliberate to produce the next bottom, it sold and stopped selling in quite a controlled fashion).

i have called the last two bottoms wrong, selling just before the reversal, so i might be a bit of a inverse indicator (i dont know how to trade against myself)

No one gets the bottoms or tops right, if you do in my opinion its luck.

Not that i care. I HODL all day long. The prices would have to go insane for me to sell. Although fire works are coming over the next 5 months, it will be impossible to lose money unless you are stupid.

 

[Charlies Shinpad]

Anyone else got a few quid in NIO ?
The Chinese equivalent of Tesla Cars and have now got their foot in the European market.
Doing very nicely at the moment for me

Sent from my EML-L09 using Tapatalk

 

[CheeseRolls]

Things have picked up over the last couple of days and possibly more to come, barring another big bitcoin shock.

If you are thinking of investing go take a look at ALBT, the next couple of months could be huge.

 

[Tyrone Biggums]

Anyone else got a few quid in NIO ?
The Chinese equivalent of Tesla Cars and have now got their foot in the European market.
Doing very nicely at the moment for me

Sent from my EML-L09 using Tapatalk

Won't own anything that is supported by the CCP.

Any crypto that's allowed to operate in China is in bed with the dogs. That includes VET.

 

[helipilot]

Anyone else got a few quid in NIO ?
The Chinese equivalent of Tesla Cars and have now got their foot in the European market.
Doing very nicely at the moment for me

Sent from my EML-L09 using Tapatalk

Yes I have a lot of shares in NIO (from Apr this year) and doing very well for me indeed. I think we will break $80 before the end of the year which will be nice. I live in China so had an early warning of what their potential is and have driven in one, they really are very well made and very high end quality. Their patented battery swap technology is going to be worth more than the car building business too I expect.... still a strong buy at $53 for people wanting a tip.

 

[helipilot]

Won't own anything that is supported by the CCP.

Any crypto that's allowed to operate in China is in bed with the dogs. That includes VET.

Well it's not crypto, it's a normal share in a thriving company that is branching out around the world. So you won't own anything that is supported by the CCP.... so anything that is made in China then? Everything made in China is supported by the CCP as they own all of the land. Companies such as General Motors, Hilton etc are all part owned by Chinese companies (many of whom the CCP have shares in).

 

[beorhthelm]

Won't own anything that is supported by the CCP.

Any crypto that's allowed to operate in China is in bed with the dogs. That includes VET.

you'd better log off then. your computer or phone will be full components from China.

 

[Tyrone Biggums]

you'd better log off then. your computer or phone will be full components from China.

When I built my comp I used as many parts from Taiwan as I could.

When I bought a phone I went for the one with as little Chinese association as possible

When I buy crypto I don't have to buy crypto from projects who are sucking the dicks of those pieces of shit CCP


It's strange that crypto is all about decentralisation yet people want to buy shit associated with a vile totalitarian government and its billion minions

 

[Charlies Shinpad]

Won't own anything that is supported by the CCP.

Any crypto that's allowed to operate in China is in bed with the dogs. That includes VET.

It's not Crypto

Sent from my EML-L09 using Tapatalk

 

[Tyrone Biggums]

It's not Crypto

Sent from my EML-L09 using Tapatalk

But this is the cryptocurrency thread.

 

[Tom Hark Preston Park]

Seems to have maintained at $35-36k average for BTC since 19 May. My pot has recovered to only a marginal loss from looking a bit bleak at the start of the w/e. How long will this flat line continue?

Only for as long as the Tether scam is allowed to keep frantically doggie paddling in a doomed attempt to keep its head above water. When it finally sinks it takes the Good Ship Crypto down with it. Oh well

 

[Charlies Shinpad]

But this is the cryptocurrency thread.

Sorry didn't realise there were strict rules that apply to any threads on here

Sent from my EML-L09 using Tapatalk

 

[beorhthelm]

despite gains today, expecting one last leg down to around 31500-32000 he wyckoff formation to complete. everyone is watching for this, so it has to happen right? (have theory the large shorting on Friday was deliberate to produce the next bottom, it sold and stopped selling in quite a controlled fashion).

i have called the last two bottoms wrong, selling just before the reversal, so i might be a bit of a inverse indicator (i dont know how to trade against myself)

if we are seeing Wyckoff playing through, looks like we just tapped line from earlier lows, move to the next phase and up. yep everyone in crypto now a Wyckoff expert having never heard of it until last month