BITCOIN
- Thread starter Weather Man
- Start date
To risky for where I am in life, but hope you make a ton.
All the stimulus with more to come and inflation rearing its head and covid. man, it is hard to see the right investing path.
The swamp does not share power. I think Trump was amazed at how deep and vast the Federal tentacles reach.
Bitcoin slips amid freakout over language in infrastructure bill
Bitcoin slips amid freakout over language in infrastructure bill
- The initial version of the now agreed-upon $1T infrastructure bill in Congress doesn't call for any new taxes on crypto transactions, but does call for increased reporting from exchanges and other market participants. That doesn't sound like a big deal, but language in the bill apparently expanded the term "broker" to mean basically every digital market participant, including those to whom these new reporting requirements would be impossible to fulfill (think miners, software/hardware developers, decentralized exchanges, or even some random guy running a node in his basement).
- Were this language to remain, some in the digital world believe it could be a kill switch for much of the Bitcoin (BTC-USD) industry in the U.S. Recall, that China several weeks ago more or less banned bitcoin mining in that country.
- That all said, the bill isn't finalized, and the digital industry is marshalling its relatively modest lobbying power to try and soften the language. Coindesk this morning reports that effort is having some limited success.
- Coincenter's Jerry Brito is also reporting on the lobbying efforts.
- Checking price action, bitcoin over the weekend rose as high as $42.5K, but had a rough Sunday night, now down 5% for the day to $39.3K. Ethereum (ETH-USD) is flat at $2,560.
- Premarket action in bitcoin miners like Riot Blockchain (NASDAQ:RIOT), Canaan (NASDAQ:CAN), Marathon Digital (NASDAQ:MARA), Bit Digital (NASDAQ:BTBT) doesn't indicate too much concern - all are flat to modestly higher.
- For more on the infrastructure bill, read here.
SEC head Gary Gensler sees a pathway for a bitcoin ETF - Bloomberg
- U.S. SEC Chairman Gary Gensler indicates that there's a pathway for approving a bitcoin exchange-traded fund, Bloomberg reports, citing his prepared remarks for a session of the virtual Aspen Security Forum.
- Right now, he calls crypto a "highly speculative store of value."
- He highlights the importance of regulating crypto. "I fear that if we don't address the issues, a lot of people will be hurt," he said.
- Bitcoin (BTC-USD) slips to ~$38.2K.
- Developing... check back for updates.
SEC Chair Gary Gensler: Crypto is a speculative asset class that needs more regulation
- Gary Gensler, chair of the U.S. Securities and Exchange Commission, said Wednesday that cryptocurrencies like Bitcoin (BTC-USD) represent a "speculative asset class" that requires more regulation to meet its potential.
- Gensler told CNBC that he was "pro-innovation" but wanted "rules of the road" for crypto to provide adequate investor protection, maintain financial security and fight illicit activity, like fraud and ransomware.
- "If it's going to meet its potential, it needs to come within public policy frameworks," he said of the cryptocurrency market.
- The SEC chair said "it's alright" if people want to speculate in cryptocurrency, but he wanted to close gaps in regulatory authority -- a move he thinks will be "good for investors" and "good for technology."
- Gensler said that most tokens fall under the category of "securities," and therefore already come under the SEC's authority.
- However, the top securities regulator argued that the framework gets more complicated for other cryptos that fall under the category of "commodity." He said additional clarification could be necessary to have close enough oversight over exchanges that trade multiple types of cryptos.
- For more on the prospects for Bitcoin, check out commentary by SA contributor Victor Dergunov, who says the crypto is heading higher.
I love that this page is filled with the guy who won’t even buy into it
I think it was his post initially, he gets a pass IMO
Oh I agree.
I just compare it to the commentator who speaks about athletes and never played a sport.
I honestly am of the mind, no matter how much research you do, you don’t know something until you do it
I am not a fan, true, but I am happy for the guys that have made money. For where I am in life, just to much risk to put money into it. I count myself lucky that I escaped the dotcom collapse with only one banco loser.
I keep posting info on it because if I did own it, I would be asking myself what all these nation state moves mean in relation to the value of bitcoin. The trend isn't friendly, but that doesn't mean that consumers won't continue to like and buy it. China and the EU will probably be the canaries to watch.
Good news and bad news, LOL.
Can anyone explain the chain attack in plain English? Do all crypto's have a chain? Are all susceptible to attack?
Bitcoin gains as Google allows cryptocurrency advertising with limits
Can anyone explain the chain attack in plain English? Do all crypto's have a chain? Are all susceptible to attack?
Bitcoin gains as Google allows cryptocurrency advertising with limits
- Bitcoin (BTC-USD) rises, flirting again with $40K, on the day that Google (GOOG -0.3%) starts allowing ads related to the world's largest cryptocurrency and other crypto on its network, Coindesk reports.
- Google has restrictions on the type of crypto ads it will allow.
- First, companies seeking to advertise crypto products and services to U.S. customers through Google must be registered with the U.S. Treasury's Financial Crime Enforcement Network or a federal or state chartered banking regulator.
- Certain types of ads or ad destinations that compile or compare crypto service providers won't be allowed.
- Ads for initial coin offerings and DeFi trading protocols are also prohibited.
- In other crypto news, the Bitcoin SV chain (BSV-USD) was the target of a "massive" 51% attack on Tuesday, Cointelegraph reports, citing Coin Metrics' Lucas Nuzzi. For more than three hours, attackers took over the chain, Nuzzi said. As a result, "all exchanges that received BSV deposits during that time might have been double spent," he said.
- Bitcoin rises to $39.4K. Ethereum (ETH-USD) rises 6.7% over the past 24 hours, Binance Coin (BNB-USD) gains 2.6%, litecoin (LTC-USD) +2.6%, dogecoin (DOGE-USD) +1.3%.
- Most crypto-related names rise in midday trading, with Bit Digital (BTBT +20.3%) and Galaxy Digital Holdings (OTCPK:BRPHF +4.8%) making the biggest gains. Others benefiting: Marathon Digital (MARA +6.8%), MicroStrategy (MSTR +5.4%), Riot Blockchain (RIOT +5.2%), Coinbase (COIN +2.7%) and SOS (SOS +3.9%).
- Crypto trusts: Grayscale Bitcoin Trust (OTC:GBTC +4.2%), Grayscale Digital Large Cap Fund (OTCQX:GDLC +9.1%), Grayscale Ethereum Trust (OTCQX:ETHE +8.8%), Osprey Bitcoin Trust (OTCPK:OBTC +0.7%).
- SA contributor The Asian Investor s
Haha. It's like you're in my head.
All copy and paste, except one post where he says he's not interested in buying it.
But that post count though lol
You simply are not that old or broke. Bitcoin was penny's and now? Or had you sold when it was above 40K and you invested 100 bucks. Crazy what a 100 bucks can do in the right place. Once again...no one is investing their life savings....that's dumb. I still....throw in 50 a week into Bitcoin. That's change...I eat out more than that a week. It doesn't take much to invest...even if it's a risk. Greater the risk greater the reward
And yet you find it interesting enough to read and if the copy/paste is interesting enough, discussion follows. And if a member clicks on some other threads or sale ads, that my friend is a win for everyone on here who looks at what has happened to all the other online forums and shudders.
In the end, I am just sharing something interesting with people, I think, who might also find it interesting or useful. It is a fun byproduct of my voracious daily reading habit.
There are certainly plenty of guys interested in crypto for instance.
You simply are not that old or broke. Bitcoin was penny's and now? Or had you sold when it was above 40K and you invested 100 bucks. Crazy what a 100 bucks can do in the right place. Once again...no one is investing their life savings....that's dumb. I still....throw in 50 a week into Bitcoin. That's change...I eat out more than that a week. It doesn't take much to invest...even if it's a risk. Greater the risk greater the reward
Your risk versus benefit model is reasonable.
Never invest in something you don't like.
I would add, never invest in something you don't fully understand, but I am guilty as charged on that. Some of the REITs I invest in I can just barely grasp how they combine loans and leverage and time to make very good money. I usually very carefully read the quarterly reports for tone and analyst's evaluations to develop a consensus when faced with that. Oh, and 10 to 15 year track record.
Just pray that Klaus does not start posting in this thread more. Once he does you might as well sell all your crypto since he will jinx it 100% guaranteed!
There is money to be made, but for how long, that is the question. It might be for a while, more trading houses setting up operations. It will be extremely interesting watching it play out.
Fair enough, they won't interest everyone.
Same.
Honestly, I’ve learned more about the market from posts on here where normal guys like us talk. Not some random copy paste.
Legit I just starred in January .. and I’m sure some of you remember how clueless I was .
in 8 months.. I’ve learned so much on here and off here ( but talking to people from here ) that I’m seeing trends now.. making calls. Things like that
all the copy paste is.. is nothing but click bait bull shit
