[Finance] The cryptocurrency (Bitcoin etc) thread

[Knocky's Nose]

Crypto could indeed be independent of existing financial systems. Completely.

However, do you think the banks and institutions will just shrug their shoulders, watch themselves go out of business, and walk away - or... will they realise that crypto and blockchain is the future of money and finance, then try to wrap their arms around it and 'own' it?

The real power is in the moneyed families and institutions worth Trillions. They then buy the politicians, who make the rules we must abide by.

I've done literally thousands of hours of research, from tinfoil hatters right through to the WEF, BIS and The Federal Reserve and beyond. The general pubic are, and always will be exit liquidity for them.

So, my odd view is based on common sense. Stack your penny next to their pound. Watch what they do. Follow their trades. Watch what they 'hide in plain sight'. Read the documents they legally have to produce, from start to finish.

As for Coinbase, they'll be ok. Look who owns them... They're untouchable, bar a token slap on the wrist at best.

COIN - Coinbase Global Inc Shareholders - CNNMoney.com

 

[beorhthelm]

so Coinbase announces new Ethereum layer 2 called Base, using Optimism. the Chainlink part didnt come through but cant win them all.

will be pretty big deal in the next wave giving an on-ramp from public to network, much liquidity (to dump on )

 

[Wardy's twin]

so Coinbase announces new Ethereum layer 2 called Base, using Optimism. the Chainlink part didnt come through but cant win them all.

will be pretty big deal in the next wave giving an on-ramp from public to network, much liquidity (to dump on )

Can you translate please.

 

[PILTDOWN MAN]

Can you translate please.

Get a bigger mattress maybe.

 

[beorhthelm]

Can you translate please.

i'll try.
Coinbase (large stockmarket listed crypto company) will release their own crypto network. this will drive revenue to them, should be good for the stock price.
this will use Optimism, driving use and revenue, should be good for the token price.
Coinbase is one of the larger entry points for retail (you) to get into crypto, this creates a deeper link into the crypto world, more money flows, more money to be made.

 

[Wardy's twin]

i'll try.
Coinbase (large stockmarket listed crypto company) will release their own crypto network. this will drive revenue to them, should be good for the stock price.
this will use Optimism, driving use and revenue, should be good for the token price.
Coinbase is one of the larger entry points for retail (you) to get into crypto, this creates a deeper link into the crypto world, more money flows, more money to be made.

thanks ... I thought crypto was less popular following on from Liz Trust and a few other issues, has it bounced back now ? I know saying crypto is the equivalent of saying stock market but whilst shares went down people generally are still 'happy' with the stock market.

 

[chickens]

thanks ... I thought crypto was less popular following on from Liz Trust and a few other issues, has it bounced back now ? I know saying crypto is the equivalent of saying stock market but whilst shares went down people generally are still 'happy' with the stock market.

It runs on Optimism, that’s really all you need to know.

 

[Half Time Pies]

Crypto could indeed be independent of existing financial systems. Completely.

However, do you think the banks and institutions will just shrug their shoulders, watch themselves go out of business, and walk away - or... will they realise that crypto and blockchain is the future of money and finance, then try to wrap their arms around it and 'own' it?

The real power is in the moneyed families and institutions worth Trillions. They then buy the politicians, who make the rules we must abide by.

I've done literally thousands of hours of research, from tinfoil hatters right through to the WEF, BIS and The Federal Reserve and beyond. The general pubic are, and always will be exit liquidity for them.

So, my odd view is based on common sense. Stack your penny next to their pound. Watch what they do. Follow their trades. Watch what they 'hide in plain sight'. Read the documents they legally have to produce, from start to finish.

As for Coinbase, they'll be ok. Look who owns them... They're untouchable, bar a token slap on the wrist at best.

COIN - Coinbase Global Inc Shareholders - CNNMoney.com

Banks are already using blockchain technology, JP Morgan has developed its own crypto currency and central banks are looking at their own digital currencies. There is no doubt that they see a potential value in the technology, and once it moves past the proof of concept stage of course they will wrap their arms around it and own it, but this doesn't mean that any of these shit coins that people are speculating on have a value in the long term. The technology will surely just end up getting integrated within the existing financial system.

 

[CheeseRolls]

Banks are already using blockchain technology, JP Morgan has developed its own crypto currency and central banks are looking at their own digital currencies. There is no doubt that they see a potential value in the technology, and once it moves past the proof of concept stage of course they will wrap their arms around it and own it, but this doesn't mean that any of these shit coins that people are speculating on have a value in the long term. The technology will surely just end up getting integrated within the existing financial system.

This is exactly what Knocky's Nose is backing. Financial transfers don't come for free today. If you can send and receive at lower cost and with greater functionality than say the SWIFT network, why would you not do it? assuming of course that the security is rock solid.

 

[Half Time Pies]

This is exactly what Knocky's Nose is backing. Financial transfers don't come for free today. If you can send and receive at lower cost and with greater functionality than say the SWIFT network, why would you not do it? assuming of course that the security is rock solid.

Just because the technology might have a use doesn't mean that that the specific shitcoins that he buys now are going to have a use and be worth more in the future.

 

[CheeseRolls]

Just because the technology might have a use doesn't mean that that the specific shitcoins that he buys now are going to have a use and be worth more in the future.

Which is why speculators are rewarded handsomly, when they get it right.

 

[pb21]

I'm not an expert on this, but my understanding is that blockchain and DLT don't require tokens that are publicly traded and there are permissioned/private blockchains.

If correct, wouldn't any future CBDC or settlement network run on a permissioned blockchain, so that the riff raff cant be involved?

 

[chickens]

Doesn’t look like our Parliamentarians have selected wisely:

Crypto investment scheme with links to UK Parliament vanishes

The Guardian published a report on Phoenix Community Capital, a cryptocurrency investment project that solicited investments in part based on credibility it built by ingratiating itself with parliament. The firm drew in approximately 8,000 investors, some of whom put in tens of thousands of...

web3isgoinggreat.com

 

[sparkie]

Can you translate please.

Part of the fascination I have with this thread is the gobbledegook language. Lol.

 

[Seagull58]

I am doing okay. I have previously mentioned SwissBorg on here and they are doing a shares issue as they try to go mainstream. I used some of my profit from selling some coins to invest. It might be amazing. It might tank. Not a lot of money and playing with profit so it feels like less of a gamble.

SwissBorg has also launched an option where you buy a bucket of coins in their portfolio and all the clever computer algorithms rebalance once a week so you own more of what is looking better in the long run. I just moved my coins in there and I am letting them do all the trading. It includes 13 coins.

I am too lazy and don’t have the time for all the analysis so I am letting others do it (as we all do with pensions etc).

I have just taken a look at SwissBorg, reading some of their Q&As. Is it really as simple as (once you open an account) depositing some GBP or EUR and then buying crypto coins entirely within their app without having to use my Binance wallet or any other exchange? Alternatively, just buying their portfolio and letting them get on with it?

 

[Marshy]

Crypto could indeed be independent of existing financial systems. Completely.

However, do you think the banks and institutions will just shrug their shoulders, watch themselves go out of business, and walk away - or... will they realise that crypto and blockchain is the future of money and finance, then try to wrap their arms around it and 'own' it?

The real power is in the moneyed families and institutions worth Trillions. They then buy the politicians, who make the rules we must abide by.

I've done literally thousands of hours of research, from tinfoil hatters right through to the WEF, BIS and The Federal Reserve and beyond. The general pubic are, and always will be exit liquidity for them.

So, my odd view is based on common sense. Stack your penny next to their pound. Watch what they do. Follow their trades. Watch what they 'hide in plain sight'. Read the documents they legally have to produce, from start to finish.

As for Coinbase, they'll be ok. Look who owns them... They're untouchable, bar a token slap on the wrist at best.

COIN - Coinbase Global Inc Shareholders - CNNMoney.com

Wise words Knocky

 

[Tom Hark Preston Park]

I have just taken a look at SwissBorg, reading some of their Q&As. Is it really as simple as (once you open an account) depositing some GBP or EUR and then buying crypto coins entirely within their app without having to use my Binance wallet or any other exchange? Alternatively, just buying their portfolio and letting them get on with it?

You don't really think their modus operandi is sustainable shirley? They'll quite happily shuffle different flavours of magic beans around for you, once they've got your GBP/EUR in their pockets, and it'll look on your screen like Number Go Up. The hard bit is to get that Number converted back into real money before the inevitable hack/rug-pull/insolvency. Might work for a little while, but like all such ponzi schemes, it won't work for everyone forever. And as with all things crypto, you'll have zero recourse to a regulator

 

[beorhthelm]

I'm not an expert on this, but my understanding is that blockchain and DLT don't require tokens that are publicly traded and there are permissioned/private blockchains.

If correct, wouldn't any future CBDC or settlement network run on a permissioned blockchain, so that the riff raff cant be involved?

pretty much right. a bank might use some tech for the underlying system, they are not necessarily needing the public network to secure, can run their own trusted chain. the primary use of chain tokens is to provide some reward for securing the state of the blockchain.

 

[Seagull58]

You don't really think their modus operandi is sustainable shirley? They'll quite happily shuffle different flavours of magic beans around for you, once they've got your GBP/EUR in their pockets, and it'll look on your screen like Number Go Up. The hard bit is to get that Number converted back into real money before the inevitable hack/rug-pull/insolvency. Might work for a little while, but like all such ponzi schemes, it won't work for everyone forever. And as with all things crypto, you'll have zero recourse to a regulator

I understand you comments. I am also a sceptic but if they are hooked in to the whales manipulating the crypto markets they are more likely to generate gains.
Edit: you can convert crypto back into fiat at any time and withdraw. I have done it previously with BTC through Binance. Whether they have any intrinsic value or not is irrelevant if you are able to sell to another sucker at a higher price than that which you paid.

 

[Berty23]

I have just taken a look at SwissBorg, reading some of their Q&As. Is it really as simple as (once you open an account) depositing some GBP or EUR and then buying crypto coins entirely within their app without having to use my Binance wallet or any other exchange? Alternatively, just buying their portfolio and letting them get on with it?

Yep. That is it. 100%. I have not been on an exchange for years. Whenever I sell it is in my bank in seconds. I have locked in some SwissBorg coins which get interest and then got that portfolio they have and manage for you. It is a lazy approach and relies on others but then doesn’t most share dealing/pensions?