Anyone here day trade Cryptocurrency?

jbj said:
That's massive for the future of it.

UK Chancellor has made some noises about accepting Bitcoin more widely this week...

Binance (in the UK at least) are getting pressured from the powers that be regarding regulation. My bank has actually started limiting transfers to them which is bullshit, if I'm campus, have done due diligence and I'm happy that it's not a scam / illegal I should be able to do whatever I want with my own money. To that end it's interesting that they're only being hassled now after years of trading and once they jump through the formalities and legal hoops I think it'll be all systems go for it being more widely accepted and utilised in the UK.
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The banks want to limit people's access to it so that they can hoard as much as possible and control it like they control fiat now...and then they get to keep their position(s).
 
smorgdonkey said:
The banks want to limit people's access to it so that they can hoard as much as possible and control it like they control fiat now...and then they get to keep their position(s).
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Rat bastards the lot of them. It did seem a bit questionable the fact they were focussed specifically on Binance, there must be tens of thousands or sketchy little exchanges out there open to abuse that they aren't paying attention to.
 
jbj said:
Rat bastards the lot of them. It did seem a bit questionable the fact they were focussed specifically on Binance, there must be tens of thousands or sketchy little exchanges out there open to abuse that they aren't paying attention to.
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Much theory that the banks and institutions were the ones behind the drop in Bitcoin prices as well. Get it down to a certain level so that they can buy.
 
so basically Cryptocurrency is like that issue of Rolling Stone magazine with Kurt Cobain on it when he wore the "Corporate Magazines sucks shirt"
 
BlockInlay said:
No, cryptocurrency is cryptocurrency. Kurt Cobain and Rolling Stone are overrated.
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well given that the issue of RS I mentioned was about 1992 that is just about 30 years ago......let's see cryptocurrency in 29 years. I could be wrong but you might be saying the same thing then about the currency.
 
DdBob said:
well given that the issue of RS I mentioned was about 1992 that is just about 30 years ago......let's see cryptocurrency in 29 years. I could be wrong but you might be saying the same thing then about the currency.
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Yeah I’m leaning towards you’re wrong, but check back with me in 29 years.
 
BlockInlay said:
Yeah I’m leaning towards you’re wrong, but check back with me in 29 years.
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ok , yeah Ill be sure to do that assuming that cash is not outdated cuz if my only option is crypto i will be living in a shack in the woods.......down by a river
 
DdBob said:
ok , yeah Ill be sure to do that assuming that cash is not outdated cuz if my only option is crypto i will be living in a shack in the woods.......down by a river
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Cash (hard cash) is already outdated, COVID has just sped up the cashless society.

It's not a huge jump from the populace dinging their card or phone wirelessly at the shops via their bank account to doing the same with a crypto balance.
 
jbj said:
Cash (hard cash) is already outdated, COVID has just sped up the cashless society.

It's not a huge jump from the populace dinging their card or phone wirelessly at the shops via their bank account to doing the same with a crypto balance.
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I disagree...I think it is a huge step until crypto becomes federally insured. The average joe (that'd be me) is not willing to put what little money they have in something that can lose it all so quick.II don't see banks and credit un ions going away anytime in the near future for that reason alone.....I want to store my money in a place that will back it up when the shit hits the fan and in all the years of mericuh they have not failed. I ain't making any profit in interest but I don't have shit to make on anyway so interest rates, etc are a non issue for me (the average joe)
 
DdBob said:
I disagree...I think it is a huge step until crypto becomes federally insured. The average joe (that'd be me) is not willing to put what little money they have in something that can lose it all so quick.II don't see banks and credit un ions going away anytime in the near future for that reason alone.....I want to store my money in a place that will back it up when the shit hits the fan and in all the years of mericuh they have not failed. I ain't making any profit in interest but I don't have shit to make on anyway so interest rates, etc are a non issue for me (the average joe)
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You're not of the generation this applies to.

I'll happily pay everything contactless now. I've never wrote a cheque, all my bills, income and outgoings are 1s and 0s. I'm 36.

The young team are even less tied to hard cash than me, the barrier to entry is very low for crypto and the banks have made a rod for their own back distancing people from actual branches.

I can only talk of my own experience in the States which is WAY behind Europe on modern banking so that may be skewing your point but in 15 years there'll not be such a thing as a walk in bank. I live in one of the biggest towns in Scotland and we went from 5 to 0 banks in around 9 months. We now have a "hub" each major bank gets a day to operate but it's dead because everything has gone digital.

My wife went in to Glasgow on Saturday and the bank, one of the biggest banks in the world, was only open for a few hours. I could go on.



We're moving away from brick and mortar banks and we're moving away from tangible cash in society. That's ripe for cryptos to get a hold.
 
jbj said:
You're not of the generation this applies to.

I'll happily pay everything contactless now. I've never wrote a cheque, all my bills, income and outgoings are 1s and 0s. I'm 36.

The young team are even less tied to hard cash than me, the barrier to entry is very low for crypto and the banks have made a rod for their own back distancing people from actual branches.

I can only talk of my own experience in the States which is WAY behind Europe on modern banking so that may be skewing your point but in 15 years there'll not be such a thing as a walk in bank. I live in one of the biggest towns in Scotland and we went from 5 to 0 banks in around 9 months. We now have a "hub" each major bank gets a day to operate but it's dead because everything has gone digital.

My wife went in to Glasgow on Saturday and the bank, one of the biggest banks in the world, was only open for a few hours. I could go on.



We're moving away from brick and mortar banks and we're moving away from tangible cash in society. That's ripe for cryptos to get a hold.
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I probably adopted earlier than most here using debit only. I was only writing one check a month since around 2012, perhaps earlier which was a rent check since I have an individual landlord and it's not a corporation. Starting 4 month's ago not even that , now I just send her via Zelle. I have been paying bills online since maybe 2005 or 2006
as far as deit cards I started using those back in 1994 and pretty much haven't carried cash since :shrug: maybe 98' or thereabouts. I only recently started using cash for the sole purpose of buying weed at the dispensary since that is a grey area with the feds even though it's legal in the state but for whatever reason they only accept cash.
i just can't get behind crypto. I will happily use apple pay, bank debity card or credit card or PayPal or a electronic transfer like Zelle...all that shit is insured.
FWIW I've only been inside a bank twice in perhaps the last tweny years. Once was when I had to get a new debit card immediatly and the other time was when i was laid off during teh covid early days and the state issued prepaid debit card i had i needed to get a bank check to send to my landlord.
 
https://www.pcmag.com/news/blockchain-provider-loses-600-million-in-cryptocurrency-hack
A hacker may have just pulled off the biggest cryptocurrency heist in history.

On Tuesday morning, blockchain provider Poly Networks reported it had come under attack, which allowed a hacker to loot cryptocurrency assets belonging to “tens of thousands” of users.

The hacker transferred the stolen funds to three wallets, which originally contained over $600 million in various cryptocurrencies, according to CoinDesk.




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