Bitcoin....who's gotten into it?

[shera]

^Yeah, at some point it just becomes a grind. Unless you're a yolo type idiot, then maybe you belong on wsb - at least you can get your karma for posting loss porn, hahaha. I see these people in Vegas at the poker table too, with no clue of the theory of the game and how to win. It's not sexy at all, a tough way to make an easy living...

Really, if someone just dcas for a couple of years they will be fine. I look forward to the next protracted bear because I will do just that, via mining. Still have to consider exit strategy, but you have to make the same calculations with your trad retirement account.

[shera]

I hooked a small buy at 33.3, bottom of the range. I wonder where we are going - up, down, sideways, interesting times. If we run up into the 40s, I will be selling.

[bennymac]

Will the retail/meme/WSB’rs switch focus to travel/reopening stocks this summer?

Pump and dump on LiveNation or a cruise line etc

[Bunion 2020]

A strong push by Wall Street to open up access to Bitcoin investment is meeting resistance from a bipartisan group of lawmakers and regulators in Washington, setting up a lobbying fight over the future of digital currency.

Major financial industry players including Fidelity Investments and Anthony Scaramucci’s SkyBridge Capital are pressing the Securities and Exchange Commission to approve their plans to launch funds on public stock markets that would let small investors tap into the rise of Bitcoin prices.

Wall Street says it’s getting in the game and trying to launch so-called exchange-traded funds linked to cryptocurrency in response to surging demand, with the market for Bitcoin alone exceeding $670 billion. Firms are pouring money into lobbying to shape regulation and to convince skeptical policymakers that digital currency is viable for wider adoption for the masses.

But lobbyists face an uphill battle that has gotten even tougher after dramatic price swings in recent days, with Bitcoin plunging nearly 40 percent since early May. The investor risks are building on broader concerns about whether cryptocurrency fuels money laundering, aids tax evaders and could threaten the safety of the financial markets themselves if broadly adopted.

What could possibly go wrong.

[Benny Profane]

What could possibly go wrong.

How about CDSs designed to insure crypto swings? And most western banks playing in that sandbox, because profit. Then, the rating agencies get involved by saying, hey, for a fee, we'll give it all a triple AAA rating. When has that ever happened? True innovation!

Of course Scarmucci wants to legitimize this garbage. He talked up Trump, after all. Fidelity doesnt surprise me, they're snakes.

[pureantigravity]

JPMorgan Chase
===============
CEO Jamie Dimon said in House testimony Thursday that his company — the nation’s largest bank — was debating how to make it available in a safe way. But Dimon's personal advice? “Stay away from it.”

“That does not mean the clients don't want it,” Dimon said. “It goes back to how you have to run a business. I don't smoke marijuana, but if you make it nationally legal I'm not going to stop our people from banking it.”

HSBC
=====
We don't want anything to do with that crack. We don't want our clients to touch it in any form. No crypto. No crypto exposed stocks. Fuck that shit.


Ah. Principles. Some have it. Some don't.

[pureantigravity]

Proof of Prose!



Prosecoin. The first blockchain secured by an ever expanding chain of prose.

[pureantigravity]

Hold My Beer token. The first crypto to be secured by a novel new scheme called Delegated Proof of Slake. If the beer doesn't slake your thirst, then the transaction is invalid. Likewise, if the beer does slake your thirst, then the next transaction probably is invalid. It's the beauty of balancing of user interests that is constantly at play that secures this and makes it so efficient. Once someone holds your beer, the best thing to do is look at someone elses beer. I haven't produced the whitepaper yet. We are a little too drunk right now to think about technical details.

[Skidog]

Tiger king started an eth to help with legal fees. #tothemoon #diamondhands #apes

Sent from my Pixel 4a (5G) using TGR Forums mobile app

[TahoeJ]

Did you seriously just cite Jamie Dimon as a man of principles? Lol... I mean.

[pureantigravity]

Did you seriously just cite Jamie Dimon as a man of principles? Lol... I mean.

Well, I guess everyone actually has them. They just differ.

[TahoeJ]

Sorry but that guy is a huge douchebag piece of shit... so anything he says can be pretty much disregarded immediately. Financially too - that motherfucker had to get bailed out so he can't talk shit about anything.

Like I said, I'm no crypto fan boy, but using the words of institutional dicks like that who have screwed up on a much higher level is hardly a counter argument.

[pureantigravity]

Sorry but that guy is a huge douchebag piece of shit... so anything he says can be pretty much disregarded immediately. Financially too - that motherfucker had to get bailed out so he can't talk shit about anything.

Like I said, I'm no crypto fan boy, but using the words of institutional dicks like that who have screwed up on a much higher level is hardly a counter argument.

Just to clarify, I was stating that HSBC has principles (in this case at least). I guess it wasn't clear. My second point was that even unprincipled people have principles - they are just the wrong ones. Now I'm not saying it is right/wrong to list cryptos as a banking/investment company -- as long as the risks are made clear and clients are not misled. HSBC has made the right decision as far as I see it and they can still reconsider at a later date.

[pureantigravity]

"Downtime"

[Bunion 2020]

Like I said, I'm no crypto fan boy, but using the words of institutional dicks like that who have screwed up on a much higher level is hardly a counter argument.

You should look back at how many times you have felt the need to write that.

BTC and Crypto have officially jumped the shark when the mainstream and the Markets all want a piece.

[Benny Profane]

[stalefish3169]

JPMorgan Chase
===============
CEO Jamie Dimon said in House testimony Thursday that his company — the nation’s largest bank — was debating how to make it available in a safe way. But Dimon's personal advice? “Stay away from it.”

“That does not mean the clients don't want it,” Dimon said. “It goes back to how you have to run a business. I don't smoke marijuana, but if you make it nationally legal I'm not going to stop our people from banking it.”

HSBC
=====
We don't want anything to do with that crack. We don't want our clients to touch it in any form. No crypto. No crypto exposed stocks. Fuck that shit.


Ah. Principles. Some have it. Some don't.

Just to clarify, I was stating that HSBC has principles (in this case at least).

What about this case?


https://www.icij.org/investigations/...undering-fine/

Sent from my Pixel 4 XL using Tapatalk

[TahoeJ]

You should look back at how many times you have felt the need to write that.

BTC and Crypto have officially jumped the shark when the mainstream and the Markets all want a piece.

Enlighten me to WTF you’re talking about.

I’ve been very clear I don’t think crypto is saving the world. Just another stock at this point.

[skaredshtles]

Just another stock at this point.

...

[Hott Butt Mud]

When a "YouTuber Influencer" goes on an old timer podcast and spends majority of time spewing off on why cryptocurrency is 'The Future', we now know that this entire charade is largely being built-up by those who "bought in early".

[TahoeJ]

What about this case?


https://www.icij.org/investigations/...undering-fine/

Sent from my Pixel 4 XL using Tapatalk

Uhh... not to mention HSBC was found to be heavily involved with hiding away money stolen by the Nazis from Jews. Principles... hahaha.

[splat]

How about CDSs designed to insure crypto swings? And most western banks playing in that sandbox, because profit. Then, the rating agencies get involved by saying, hey, for a fee, we'll give it all a triple AAA rating. When has that ever happened? True innovation!

Of course Scarmucci wants to legitimize this garbage. He talked up Trump, after all. Fidelity doesnt surprise me, they're snakes.

Wait. Haven't you ever heard of a Federal bailout?
Isn't that the safety net premise all banks and funds operate on these days?

[4matic]

Wait. Haven't you ever heard of a Federal bailout?
Isn't that the safety net premise all banks and funds operate on these days?

Good point and a reason for caution on BTC. There is no backstop or support. Not that other currencies should.

[Benny Profane]

Wait. Haven't you ever heard of a Federal bailout?
Isn't that the safety net premise all banks and funds operate on these days?

If there was a fed bailout for banks because they fucked up all around crypto, I'd fucking storm congress along with the Trumptards.

[pureantigravity]

What about this case?
https://www.icij.org/investigations/...undering-fine/

Uhh... not to mention HSBC was found to be heavily involved with hiding away money stolen by the Nazis from Jews. Principles... hahaha.

Which is to say ... if a bank that sees no problem with money laundering and Nazi loot decides to ban your pet rock, then maybe they are actually really really coincerned about it! Perhaps they really do think about protecting their customers and reputation. It is a slippery slope but there is only so low a bank can go. The crooks limbo is a game best lost.