Cryptocurrencies and Bitcoin

[Holy Joe]

I have not heard of a single one of those crypto exchanges. Quite amazed that so many can actually make money, I wouldn't put my money into anything other than the big ones

Yeah, some appear to be based in hairdressers.

Looks like they're still adding to list though

World's largest cryptocurrency exchange Binance has been banned in the UK - SiliconANGLE

World's largest cryptocurrency exchange Binance has been banned in the UK - SiliconANGLE

siliconangle.com

 

[Ricky Otto]

Yeah, some appear to be based in hairdressers.

Looks like they're still adding to list though

World's largest cryptocurrency exchange Binance has been banned in the UK - SiliconANGLE

World's largest cryptocurrency exchange Binance has been banned in the UK - SiliconANGLE

siliconangle.com

Misleading headlines again, you can still buy and sell crypto on Binance. You just can't do leveraged trading

 

[Holy Joe]

Misleading headlines again, you can still buy and sell crypto on Binance. You just can't do leveraged trading

The fca notice isn't clear - it just mentions the firm is not authorised for regulated activities - as you say the trading of crypto is not regulated so would be allowed - but it appears perhaps the firm is offering derivatives or maybe funds linked to crypto which would be illegal. Not sure if these options get 'greyed out' or removed if you register and declare you're from the UK - if so no problem , if not then it's not exactly a ringing endorsement of a large firm to be operating illegally.

 

[Mad Cyril]

Misleading headlines again, you can still buy and sell crypto on Binance. You just can't do leveraged trading

Why would any retail investor want to get into leveraged trading?

 

[Ricky Otto]

Why would any retail investor want to get into leveraged trading?

No idea

 

[Holy Joe]

Why would any retail investor want to get into leveraged trading?

very popular in the US and Asia - the attraction is obviously to make outsized gains versus your stake - but very risky. Probably quite rightly heavily regulated in the UK

 

[SARF]

Spread betting , as leveraged trading for retail investors should be called , has been around for yonks and you can do it on pretty much everything. The disclaimers you have to negotiate are nothing special and I imagine the checks are negligible

 

[davewebbsbrain]

Just joined up to Pi, the latest crypto coin. The link below sets you up to mine Pi using an app downloaded to your phone and doesn't drain your battery.
I am sending you 1π! Pi is a new digital currency developed by Stanford PhDs, with over 23 million members worldwide. To claim your Pi, follow this link https://minepi.com/Webby37 and use my username (Webby37) as your invitation code.

 

[THE SEVENTIES NORTH BANK]

Just a warning to you investors. HMRC are sending out 'nudge' letters to crypto investors, as so many haven't paid the correct tax on their investments. They also warn not to ignore the letter.
Tax authorities are also including data on crypto investors in the information they collect across borders. A freedom of information request by Gherson Solicitors, a law firm, this year confirmed HMRC had used its powers to gather information about crypto investors in and outside the UK for the tax years 2017/18 to 2019/20 inclusive. Details included the names and addresses of investors and the value of crypto assets held.
An expert on the radio said HMRC wants their share of all the money made the last few years with the crypto boom.

 

[Mad Cyril]

Just a warning to you investors. HMRC are sending out 'nudge' letters to crypto investors, as so many haven't paid the correct tax on their investments. They also warn not to ignore the letter.
Tax authorities are also including data on crypto investors in the information they collect across borders. A freedom of information request by Gherson Solicitors, a law firm, this year confirmed HMRC had used its powers to gather information about crypto investors in and outside the UK for the tax years 2017/18 to 2019/20 inclusive. Details included the names and addresses of investors and the value of crypto assets held.
An expert on the radio said HMRC wants their share of all the money made the last few years with the crypto boom.

Just send them a 3.5" floppy disk and say the tax payment is on there.

 

[davewebbsbrain]

Get some XRP before it rockets.
SWIFT has 5T daily volume. If #XRP takes 10% (500B) of it then we will see the price at $50!

The XRPL is going to explode because of R3, CBDCs, Institutions, IMF, Payment Providers, Multi-Hop, Banks and more. XRP has to provide liquidity, means XRP needs a high price!

 

[Tangled up in Blue]

Capitalism at it's worst?

 

[pottster]

Get some XRP before it rockets.
SWIFT has 5T daily volume. If #XRP takes 10% (500B) of it then we will see the price at $50!

The XRPL is going to explode because of R3, CBDCs, Institutions, IMF, Payment Providers, Multi-Hop, Banks and more. XRP has to provide liquidity, means XRP needs a high price!

None of that makes any sense to me

 

[davewebbsbrain]

None of that makes any sense to me

Basically Ripple will take over from Swift as a payment system.. The more money goes thru Ripple, the more XRP will be worth

 

[Tangled up in Blue]

Basically Ripple will take over from Swift as a payment system.. The more money goes thru Ripple, the more XRP will be worth

Couldn't use a swift ticket machine at Cornellâ last night with my C/C.Had to use cash instead.Maybe the takeover was already in progress.

 

[Ricky Otto]

Capitalism at it's worst?

Not at all, some crypto is worthless and hype based but its no different from a gamble. Crypto is banking the unbanked, there are 2 billion people without a bank account in the world and crypto is opening up defi banking for them, all they need is a phone. Capitalism at its worst for me is how FIAT currency works! You can work hard, earn and save only for a central bank to increase the money supply and devalue the money you have earned. We are at a time of record breaking QE and it is no surprise that bitcoin, an alternative with limited supply that will never increase, has been so popular.

 

[Ricky Otto]

Get some XRP before it rockets.
SWIFT has 5T daily volume. If #XRP takes 10% (500B) of it then we will see the price at $50!

The XRPL is going to explode because of R3, CBDCs, Institutions, IMF, Payment Providers, Multi-Hop, Banks and more. XRP has to provide liquidity, means XRP needs a high price!

I've taken my eye off of XRP, what is the situation with the SEC case?

 

[Tangled up in Blue]

Not at all, some crypto is worthless and hype based but its no different from a gamble. Crypto is banking the unbanked, there are 2 billion people without a bank account in the world and crypto is opening up defi banking for them, all they need is a phone. Capitalism at its worst for me is how FIAT currency works! You can work hard, earn and save only for a central bank to increase the money supply and devalue the money you have earned. We are at a time of record breaking QE and it is no surprise that bitcoin, an alternative with limited supply that will never increase, has been so popular.

You might want to read about the various "bubbles" In capitalism from the infamous South Sea Island bubble right down to the more recent financial crash in Wall Street circa 2006.

 

[Ricky Otto]

You might want to read about the various "bubbles" In capitalism from the infamous South Sea Island bubble right down to the more recent financial crash in Wall Street circa 2006.

I'm fully aware of bubbles and IMO this will be more like the dot com bubble, it's going to crash and lots will go to zero but a few projects will come out the other side and be massive. I'm in no doubt we are in a bubble though, meme coins with multi billion £ market caps tell you that.

 

[davewebbsbrain]

I've taken my eye off of XRP, what is the situation with the SEC case?

Outcome been put back a month but from the sound of it Ripple don't have a case to answer and the SEC case will be thrown out.

Nice promo for Ripple, XRP and XRapid, 3 years old and Ripple has moved on a lot since
I think XRP is going to fly