Bitcoins/Litecoins/Virtual Currencies

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Edaw

Edaw

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Mist said:
Generally "enforcement action" means a specific raid or seizure. Not a new regulation.
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Screenshot 2023-01-18 at 11-28-39 Justice Department Treasury to set forth 'major' internation...png


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Hmmm
 
Sanrith Descartes

Sanrith Descartes

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Break

Break

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Is there any good news on the horizon for Crypto, honestly? It seems to me like we're entering a period of paper cuts by regulation and traditional banking refusing to do business with exchanges. I'm no oracle but my gut is telling me there will be many more paper cuts and even some pretty heavy handed regulation that will basically turn Crypto into an inferior stock market except that technically, some how, some way people can still take private ownership of their tokens but they're going to try with all their sadistic might to stop this.
 
Rangoth

Rangoth

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Bitcoin has gone up a bit but I see the same thing. The US is on a current path to rape crypto in general if the tempo of the politicians doesn’t change.

I’m not “all in”, never was. But tens era of shitcoins is mostly over. There will always be another pump and dump scheme but it won’t be a popular or accessible activity for non technical people for a while.

I do still think crypto as a financial concept has legs so I’m long on Bitcoin and a bit of ETH waiting on the winner.
 
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Ranak

Ranak

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While 2022 seemed to be the emphasis on self-custody and expensive lessons for those that trusted CEX/CeFi, I think 2023's emphasis is going to be wallet tech. There are already self-custody wallets hitting the market that are recoverable via account abstraction with MPC/TSS (no seed phrase), don't require you to hold a native chain token for gas, have DeFi built in for access to top yield opportunities within an app (DeFi for retail/grandma), have native on/off ramp instead of using Transak, Moonpay etc. MetaMask has 30-40 million users, Trust Wallet 10m+ etc. Lots of room for innovation in the space and it's moving at hyperspeed to add new features/tech. Reports this week claim 29% of millenials own bitcoin, so there is a real need for this too.
 
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Zefah

Zefah

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Rangoth said:
Bitcoin has gone up a bit but I see the same thing. The US is on a current path to rape crypto in general if the tempo of the politicians doesn’t change.

I’m not “all in”, never was. But tens era of shitcoins is mostly over. There will always be another pump and dump scheme but it won’t be a popular or accessible activity for non technical people for a while.

I do still think crypto as a financial concept has legs so I’m long on Bitcoin and a bit of ETH waiting on the winner.
Click to expand...

Crypto always existed at the whims of governments. Why would any decently powerful central government that controls its own currency ever allow Bitcoin or any other decentralized cryptocurrency to become a legitimate thing outside of their control?
 
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Rangoth

Rangoth

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Agree completely. But there Is a strong group of people that believe in it, which thus far continues to give it value. I figure if my messy 50k or whatever can have a small chance to skyrocket to a million, fuck it, I’ll try. I did try to swing shit coins a bit on Binance trying to on one of those glorious overnight skyrockets of 1500% lol. I didn’t lose money but I never made more than I did in the actual market so I stopped. I never followed the trends close enough and there were so many rugpulls I paperhands that stuff like a little bitch, up 5%!, I’m out! But it was rather easy to do that surprisingly.
 
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Kuro

Kuro

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Zefah said:
Crypto always existed at the whims of governments. Why would any decently powerful central government that controls its own currency ever allow Bitcoin or any other decentralized cryptocurrency to become a legitimate thing outside of their control?
Click to expand...
Bitcoin just needs a mercenary army larger than the United States army to assert dominance yo
 
Caliane

Caliane

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doing taxes. so decided to look at where I stood with crypto. tl/dr eth is a big winner, everything else lost.

this as starting in 12/23/20.
First, I looked at the price I sold my mutual fund at. $34.31. its current value is $31.25. so, if I had left my money in that account it would be down 9%.
(my IRA frustratingly is down even more. $113.08/share back in 12/31/20. $96.04 today. down 15%.)

should note here, a bit dumb holder. should have sold at highs for major profits. /shrug.

Eth was bought 12/23/20-8/13/21 prices between 600 and 1,982. majority at 1,120. on 1/13/21.
price now is 1,523. overall 31% up still. +staking rewards. which is an additional 12.5% eth. for 34.9% increase.

Btc is a major loss. down 39%. 12/23/20-1/13/21. $23,603 to 36,467. hold on money transfer really hurt.. even the Eth, really.. if I could have gotten in on jan1st...
21,747 now.

got some nano. down 85%.
ada -65.5%
matic down 50%

Since Eth was the one I invested the most in, my total is up 4.32%. certainly not great compared to the high of 190% increase...
but, as noted, since the mutual fund is down 9%, and my IRA is down 15% still. it is technically still a win.
 
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reavor

reavor

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Seems one of the big new narratives coming are the ordinals on bitcoin chain. Basically bitcoin native NFTs that are more integrated to the actual chain than regular eth/polygon/whatever NFTs.
 
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