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Author Topic: Bitcoin Discussion  (Read 232933 times)

Online diyforexskills

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Re: Bitcoin Discussion
« Reply #870 on: May 13, 2021, 05:43:36 AM »
A welcome intervention. Or is Elon just playing the markets?

Breaking News Bitcoin Drops as Tesla Suspends BTC purchases

Early Thursday several hours after the New York closing bell Bitcoin made a sudden and sharp drop. Teslas CEO Elon Musk tweeted a statement announcing the suspension of Bitcoin payments for Tesla vehicle purchases. Mr Musk noted the environmental impact, saying We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel. Teslas stock was down just over 1% in after-hours.

Bitcoin dropped over 7% on the news, and while not necessarily an unusual move for the volatile crypto asset, it does showcase that Mr. Musks statement caught traders off guard. BTC/USDs technical posture was weakened, with the 100-day Simple Moving Average (SMA) being breached. Support from near the 61.8% Fibonacci retracement appeared supportive, but MACD and RSI are signaling a weak stance.
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Offline drunkfx

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Re: Bitcoin Discussion
« Reply #871 on: May 13, 2021, 07:04:24 AM »
Financial authorities in South Korea are demanding customer data from all local banks. The reason for this is for the authorities to locate and ultimately identify all crypto exchanges in the country. The Korean Herald reports that many of the nations financial regulators are currently summoning major banks so that they can give away vital data on the banks businesses with South Korean crypto exchanges. These authorities are even seeking corporate accounts, going as far as evaluating the banks monitoring methodologies.

Apparently this is one of the reasons of sell-off happened yesterday.

Offline Humble Trader's Fx

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Re: Bitcoin Discussion
« Reply #872 on: May 13, 2021, 08:01:05 AM »
Financial authorities in South Korea are demanding customer data from all local banks. The reason for this is for the authorities to locate and ultimately identify all crypto exchanges in the country. The Korean Herald reports that many of the nation’s financial regulators are currently summoning major banks so that they can give away vital data on the banks’ businesses with South Korean crypto exchanges. These authorities are even seeking corporate accounts, going as far as evaluating the banks’ monitoring methodologies.


Apparently this is one of the reasons of sell-off happened yesterday.


More than the South Korean action is that of Musk: All of a sudden he has become environmentally conscious; what a joke! He played the system, bought low, created a stir making the crypto jump and sold at a very large profit. End of story. Good for him, bad for the suckers who jumped in, after his announcement that Tesla would accept BTC as payment for cars; I hope you bought yours in time. 8)


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« Last Edit: May 13, 2021, 08:03:54 AM by Humble Trader's Fx »
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Offline Eliza Abrams

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Re: Bitcoin Discussion
« Reply #873 on: May 17, 2021, 12:26:49 PM »
Market analysts are divided about the Elon Musks motives. Some say the move has been made to assuage the concerns of environmentally focused investors, who are worried about the climate footprint bitcoin miners leave, especially in China, where the bitcoin mining industry relies heavily on electricity generated by burning coal. After all Tesla is presented as a clean energy focused company, they say.

Others however, believe that the tweet is yet another trick by Elon Musk to influence the highly volatile crypto currency markets.

The man is playing with the market, in my opinion. There was no way he wasn't aware of these things when he started hyping Bitcoin just a few months ago.

It also goes to show how unstable and easy to manipulate cryptos are, if Bitcoin crashes because one influential guy tweeted about him. Can you imagine his tweets affecting Coca Cola's stock like that? Or Disney's?

Offline Humble Trader's Fx

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Re: Bitcoin Discussion
« Reply #874 on: May 17, 2021, 01:56:47 PM »
Just received an email from my friend Soshi in which he states he will launch another crypto that will use 1/5 of the energy used by BTC. He further goes on to say that he has been in touch with Musk and he will physically launch the crypto computer which will generate the first block next year on April 1st. Anyone interested should send their initial bid(s) to:
Lalaland Inc.
999666 Lalaland,
H882UTOO, Greenland

I hope this announcement helps all those who are serious true and intelligent investors.

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HumbleTrader
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Offline Humble Trader's Fx

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Re: Bitcoin Discussion
« Reply #875 on: May 22, 2021, 02:04:43 PM »
FROM BLOOMBERG:

"The wild ride of Bitcoin this week, fueled by Elon Musks tweets, snuffed out speculative excesses and led to a broader reckoning for the troubled asset. While some crypto hedge funds are buying the dip, Bitcoins savage swings may deter mutual funds and pension funds from jumping in. The price fluctuation also means Bitcoin cant be used as a viable form of money, Bloombergs Editorial Board writes. Lawmakers in Washington are struggling with what to do about crypto, and the U.S. Treasury tightened tax enforcement on crypto transfers. One Bloomberg editor watched as two people made him a cryptocurrency in under 10 minutes."


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HumbleTrader
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We humbly approach the Forex Market and take only what is earned through our hard work and intelligence.

Offline fxopen78

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Re: Bitcoin Discussion
« Reply #876 on: May 23, 2021, 11:45:12 PM »
seems in recent days the prices of Bitcoin decline, now price at $34,317.42
Maybe this decline also triggered by China's policy about cryptocurrency, government banned all society to use cryptocurrency because they have reason will make instability in finance

Offline Humble Trader's Fx

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Re: Bitcoin Discussion
« Reply #877 on: May 24, 2021, 07:24:26 AM »
seems in recent days the prices of Bitcoin decline, now price at $34,317.42
Maybe this decline also triggered by China's policy about cryptocurrency, government banned all society to use cryptocurrency because they have reason will make instability in finance


I wouldnt use the word finance, better in gambling.

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Offline Eliza Abrams

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Re: Bitcoin Discussion
« Reply #878 on: May 25, 2021, 01:15:11 PM »
Well, that ship sank fast and some are fleeing the sinking ship - HSBC announced they won't create a BTC trading desk, stating that the biggest reason is its constant state of volatility. I have little doubt other companies will follow suit.

Offline fxopen78

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Re: Bitcoin Discussion
« Reply #879 on: May 26, 2021, 12:32:30 AM »
Bitcoin still continues to drops in recent days, not only Bitcoin but almost cryptocurrency seems bearish

Offline Super Andrew

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Re: Bitcoin Discussion
« Reply #880 on: May 27, 2021, 11:25:21 PM »
Load the boat!

Online diyforexskills

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Re: Bitcoin Discussion
« Reply #881 on: May 30, 2021, 04:08:08 AM »
I am still not a convert to crypto but Chris has written a well-researched and persuasive case here even if it ignores some important aspects  https://digitalslowmad.com/

So I keep following this crypto development knowing how easy it is to ignore impending change from my own career history and how valuable this little book was during those years to keeping an open mind  https://www.booklibrarian.com/pdfepub/who-stole-my-cheese
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Offline fxopen78

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Re: Bitcoin Discussion
« Reply #882 on: May 30, 2021, 11:53:46 PM »
Maybe cryptocurrency get so much pressure from the government, and I don't know will the crypto world will end, but I think this industry growth from the root, in one edge government, banned crypto or create strict regulation, in other edges, market participant come from any investor, and they like volatility, I think the developer will looking the way for a solution.

Offline Humble Trader's Fx

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Re: Bitcoin Discussion
« Reply #883 on: May 31, 2021, 03:14:54 PM »
Maybe cryptocurrency get so much pressure from the government, and I don't know will the crypto world will end, but I think this industry growth from the root, in one edge government, banned crypto or create strict regulation, in other edges, market participant come from any investor, and they like volatility, I think the developer will looking the way for a solution.

Most crimes in the past have been solved by "following the money". The existence of cryptos goes against a civilized society of openness and trust, especially giving criminals a way to further their crimes against society. It's not a question of whether cryptos will be banned but how soon cryptos will be banned outright.

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HumbleTrader
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Offline Eliza Abrams

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Re: Bitcoin Discussion
« Reply #884 on: June 01, 2021, 12:23:29 PM »
South Korean government officials have reached a decision to impose a 20 percent tax on all crypto gains. The new regulations will be put into force in 2022. Profit from digital coin transactions will be classified as miscellaneous income, and will have to be reported in the May 2023 general income taxes reports.

The plan to act so swiftly was originally announced sometime earlier in 2021 during a vice-ministerial interagency summit, that was overseen by Koo Yoon-Cheol, head of the government policy coordination.

It was decided then that the South Korean Financial Service Commissions (FSC) will be the central watchdog to regulate the nations crypto ecosystem. The FSC is the official South Korean financial and FX regulator.

 

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