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  SW19 CPFC  Addiscombe West 11 Jan 21 9.09pm |
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If anyone is even slightly surprised that bitcoin etc. are starting to be looked at and regulated, I'd be amazed. As I've suggested many times before, regulation is simply the beginning of the path towards the ruling classes preferred solution – governments having their own digital currency, replacing or working with the existing fiat system. Quite how anyone can believe that governments would simply sit idly by while billions of dollars poured out of bank accounts and into unregulated, semi-untraceable anonymous digital wallets... is, to me, astounding. It's the internet hippy complex mk 2. Where does that leave unregulated bitcoin et al? Eventually, in the gutter. Not sure it will completely kill it in the short to medium term but certainly in the long term. In all likelihood any existing unregulated independent currency will just become a version of PayPal to survive. Or PayPal itself, if you look into how they're positioning themselves around crypto's. Would be interested to hear any opinions on how this somehow won't happen.
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| Badger11 Beckenham 11 Jan 21 10.05pm |
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I started in banking in the 1970's every few years there would be talk of a global currency and there were some serious attempts to get it off the ground. I think that eventually they will launch a cryptocurrency regulated and backed by the governments which initially will be by multinationals used for trade payments / exchange of goods. It makes sense if you are a multinational if you only have to deal in one currency, you then force your suppliers to accept that currency they in turn will force their suppliers. Eventually as more and more companies are added a retail element will be added for the public it maybe popular for countries with dodgy currencies. After that who knows. Edited by Badger11 (11 Jan 2021 10.07pm)
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| SW19 CPFC Addiscombe West 11 Jan 21 10.22pm |
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Originally posted by Badger11
I started in banking in the 1970's every few years there would be talk of a global currency and there were some serious attempts to get it off the ground. I think that eventually they will launch a cryptocurrency regulated and backed by the governments which initially will be by multinationals used for trade payments / exchange of goods. It makes sense if you are a multinational if you only have to deal in one currency, you then force your suppliers to accept that currency they in turn will force their suppliers. Eventually as more and more companies are added a retail element will be added for the public it maybe popular for countries with dodgy currencies. After that who knows. Edited by Badger11 (11 Jan 2021 10.07pm) Indeed. That may well be the endgame – a universally accepted, regulated, multi-government backed crypto. In the short to medium term it's potentially more likely that each country will initially want to hold onto its own currency within the fiat system, almost like a trial run with a viable backup, so they will then all have their own regulated 'fiat' crypto alongside the existing. Until eventually it all moves to one – which also fits into the globalist agenda pretty nicely. That approach does not leave much room for independent, unregulated cryptos of course. Much like the banking sector and unregulated finance.
Did you know? 98.0000001% of people are morons. |
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| mezzer Main Stand, Block F, Row 20 seat 1... 13 Jan 21 10.51am |
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Don't lose that password if you're in the bitcoin game!! "A Bitcoin owner has only two guesses left to unlock more than $220 million in cryptocurrency, the NYT reported. Stefan Thomas, a computer programmer in San Francisco, was given 7,002 Bitcoins more than 10 years ago, when they were worth between $2 to $6 each. Unfortunately for Thomas, the digital wallet where the Bitcoin is stored only allows 10 attempts before it seizes up and encrypts its contents forever. Thomas had kept the password on a piece of paper—which he lost years ago."
Living down here does have some advantages. At least you can see them cry. |
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| Badger11 Beckenham 13 Jan 21 11.03am |
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Originally posted by mezzer
Don't lose that password if you're in the bitcoin game!! "A Bitcoin owner has only two guesses left to unlock more than 0 million in cryptocurrency, the NYT reported. Stefan Thomas, a computer programmer in San Francisco, was given 7,002 Bitcoins more than 10 years ago, when they were worth between to each. Unfortunately for Thomas, the digital wallet where the Bitcoin is stored only allows 10 attempts before it seizes up and encrypts its contents forever. Thomas had kept the password on a piece of paper—which he lost years ago." See I don't get this. Why is there no password retrieval process? Why does Bitcoin care?
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BlueJay  UK 13 Jan 21 11.24am |
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Originally posted by mezzer
Don't lose that password if you're in the bitcoin game!! "A Bitcoin owner has only two guesses left to unlock more than 0 million in cryptocurrency, the NYT reported. Stefan Thomas, a computer programmer in San Francisco, was given 7,002 Bitcoins more than 10 years ago, when they were worth between to each. Unfortunately for Thomas, the digital wallet where the Bitcoin is stored only allows 10 attempts before it seizes up and encrypts its contents forever. Thomas had kept the password on a piece of paper—which he lost years ago." Jesus. I almost feel ill on his behalf from just reading this.
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ASCPFC  Pro-Cathedral/caravan park 13 Jan 21 2.23pm |
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Originally posted by mezzer
Don't lose that password if you're in the bitcoin game!! "A Bitcoin owner has only two guesses left to unlock more than 0 million in cryptocurrency, the NYT reported. Stefan Thomas, a computer programmer in San Francisco, was given 7,002 Bitcoins more than 10 years ago, when they were worth between to each. Unfortunately for Thomas, the digital wallet where the Bitcoin is stored only allows 10 attempts before it seizes up and encrypts its contents forever. Thomas had kept the password on a piece of paper—which he lost years ago." More generous than my bank. I only get three chances. I don't quite have that balance though.
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| Stirlingsays 13 Jan 21 2.52pm |
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Still doing alright at the moment. Edited by Stirlingsays (13 Jan 2021 2.53pm)
'Who are you and how did you get in here? I'm a locksmith. And, I'm a locksmith.' (Leslie Nielsen) |
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| Stirlingsays 13 Jan 21 3.26pm |
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I'm hearing that the Bitcoin crash of a few days ago was a coordinated dump by all the large Bitcoin holders....or whales as they are called. The principle aim being to panic the market into getting out of Bitcoin and lowering the price significantly.....at some point they want they all start buying up the bitcoin and it slowly recovers back. I fell for it myself and ended up transferring to Ethereum where I'm holding steady. If that's all true it's a bit of a rookie's mistake on my behalf to fall for that, which no doubt will net these millionaires more money....I guess I have to learn this stuff and wise up. But there's quite a lot to it. Edited by Stirlingsays (13 Jan 2021 3.29pm)
'Who are you and how did you get in here? I'm a locksmith. And, I'm a locksmith.' (Leslie Nielsen) |
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| chris123 hove actually 13 Jan 21 4.07pm |
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Originally posted by Stirlingsays
I'm hearing that the Bitcoin crash of a few days ago was a coordinated dump by all the large Bitcoin holders....or whales as they are called. The principle aim being to panic the market into getting out of Bitcoin and lowering the price significantly.....at some point they want they all start buying up the bitcoin and it slowly recovers back. I fell for it myself and ended up transferring to Ethereum where I'm holding steady. If that's all true it's a bit of a rookie's mistake on my behalf to fall for that, which no doubt will net these millionaires more money....I guess I have to learn this stuff and wise up. But there's quite a lot to it. Edited by Stirlingsays (13 Jan 2021 3.29pm) Money Box Radio 4 this afternoon - 30 minutes on crypto currencies.
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| Stirlingsays 13 Jan 21 4.10pm |
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Originally posted by chris123
Money Box Radio 4 this afternoon - 30 minutes on crypto currencies. Tips hat.
'Who are you and how did you get in here? I'm a locksmith. And, I'm a locksmith.' (Leslie Nielsen) |
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| Badger11 Beckenham 13 Jan 21 5.01pm |
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Originally posted by Stirlingsays
I'm hearing that the Bitcoin crash of a few days ago was a coordinated dump by all the large Bitcoin holders....or whales as they are called. The principle aim being to panic the market into getting out of Bitcoin and lowering the price significantly.....at some point they want they all start buying up the bitcoin and it slowly recovers back. I fell for it myself and ended up transferring to Ethereum where I'm holding steady. If that's all true it's a bit of a rookie's mistake on my behalf to fall for that, which no doubt will net these millionaires more money....I guess I have to learn this stuff and wise up. But there's quite a lot to it. Edited by Stirlingsays (13 Jan 2021 3.29pm) So a cartel of nameless individuals who have a monopoly have rigged the currency market. Hang on isn't that what Tux was always complaining about mainstream markets?
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