Bitcoin and Crypto Talk (Merged)(includes NFT) (2 Viewers)

[Tapxe]

I think standoffish refers to unfriendly, right? Hands-off maybe? The ECB also said early this morning that regulating crypto isn't a high priority. Both of these comments should be positive for the crypto market.

I picked up some ETH yesterday at $715.

Yes, I just meant they are signalling an approach of careful application of regulation while targeting any fraud found and considered that as being distant from regulation. Had to look it up and had never heard standoffish used to describe unfriendly... my bad.

 

[Tapxe]

Eth back up to 950~ this morning. Glad I hodl'ed. Wish I could say the same for the rest of my coins, but still hodl on em just because.

The Commodity Futures Trading Commission (CFTC)'s Technology Advisory Committee hosted back-to-back panels on cryptocurrencies, blockchain and regulation during its meeting Wednesday.

The meeting brought together influential figures from both the public and private sectors, with participants primarily raising issues related to markets, the regulation of the new technologies and the role of regulators in participating in the development of the technologies.

Indeed, the event had one tangible outcome from the get-go – just prior to the break, the committee approved the creation of two subcommittees, with one devoted to cryptocurrencies and the other on broader application of distributed ledgers in the finance space.

https://www.coindesk.com/us-commodities-regulator-establishes-crypto-dlt-committees/

Hopefully that's good news and will help me get rich quick...

 

[rsmith2783]

I think standoffish refers to unfriendly, right? Hands-off maybe? The ECB also said early this morning that regulating crypto isn't a high priority. Both of these comments should be positive for the crypto market.

I picked up some ETH yesterday at $715.

You should be in the green at this point.

 

[superchuck500]

Eth back up to 950~ this morning. Glad I hodl'ed. Wish I could say the same for the rest of my coins, but still hodl on em just because.



Hopefully that's good news and will help me get rich quick...

It certainly shows that they're being serious about it and want to make it work within our regulatory structure rather than relegating it to pariah status with minimal discussion.

 

[Tapxe]

It certainly shows that they're being serious about it and want to make it work within our regulatory structure rather than relegating it to pariah status with minimal discussion.

I wonder if this is enough to overcome the bubble talk. I mean, BTC or ETH could easily go the way of myspace or geocities, but surely blockchain is becoming more legitimate.

 

[rsmith2783]

I should have purchased when it was down.

 

[Tapxe]

Well, if you think it's going back to 1400, it's still down...

 

[superchuck500]

I wonder if this is enough to overcome the bubble talk. I mean, BTC or ETH could easily go the way of myspace or geocities, but surely blockchain is becoming more legitimate.

I think blockchain is valuable and here to stay. The value of various blockchain manifestations will likely be far more ephemeral. The more secure long play is to invest in firms that are developing and selling blockchain applications to various sectors (like IBM and Overstock).

The crypto plays are far riskier and more like gambling. So far, it has been a craze that has inflated the value of all of the players, but as the market gets more saturated, it also destroys the underlying investment premise. Some coins have a better "story" than others but I'm not sure any of them are that well positioned. Bitcoin is the most professional of them and now that it has a management organization, perhaps they can be nimble enough to evolve as blockchain-crypto evolves and not be put out by a new advancement.

 

[superchuck500]

Potentially big news for Ripple:

Western Union, the world’s largest money transfer service, has revealed that it is conducting a blockchain-based payments trial with Ripple.

Western Union CFO Raj Agrawal confirmed the long-rumored partnership during an interview with Bloomberg, stating that the company was testing the efficiency of blockchain transactions.

Agrawal told the publication that its blockchain efforts are still in a “testing phase” and are not a key part of the 167-year-old firm’s business. He added that, despite industry bullishness surrounding the promise of blockchain technology, the trial has yet to bear any fruit that would be a “big unlock” for Western Union.

https://www.ccn.com/western-union-taps-ripple-for-blockchain-trial/

 

[superchuck500]

This bull run has been a nice turn - I think it started around 2/5.

 

[SaintInBucLand]

Had a good discussion today about cryptocurrencies and their impact on the environment.

Have many people considered the enormous drain of resources it takes to mine crypocurrencies?

http://money.cnn.com/2017/12/07/technology/bitcoin-energy-environment/index.html

https://themarketmogul.com/environmental-impact-bitcoin-mining/

 

[Tapxe]

What do you guys think about Faceter?

https://www.trackico.io/ico/faceter/

 

[PayOrPlay]

Gates and Wozniak have something in common

Bill Gates: cryptocurrencies have 'caused deaths in a fairly direct way' . . . and a word from Wozniak as well . . . (The Guardian)

Speaking during a Reddit AMA, Gates argued that “the government’s ability to find money laundering and tax evasion and terrorist funding is a good thing.

“Right now cryptocurrencies are used for buying fentanyl and other drugs so it is a rare technology that has caused deaths in a fairly direct way.” In contrast to cash, which is also untraceable, cryptocurrencies can be used remotely, which removes another avenue of control, he added.

Gates also suggested that investing in the sector is a bad idea: “I think the speculative wave around ICOs and cryptocurrencies is super risky”.

Gates is not the only former tech executive to have a negative view of cryptocurrencies. Steve Wozniak, the co-founder of Apple, revealed on Tuesday that he had lost seven bitcoins to a scammer.

“Somebody bought them from me online through a credit card, and they cancelled the credit card payment,” he told a conference in India. “It was that easy. And it was from a stolen credit card number, so you can never get it back.”

 

[Brennan77]

I take Gates' point. But that is very definition of an indirect cause. It's not fairly direct at all.

Sent from my Pixel 2 using Tapatalk

 

[superchuck500]

I take Gates' point. But that is very definition of an indirect cause. It's not fairly direct at all.

Sent from my Pixel 2 using Tapatalk

Agreed.

I'm pretty sure the black-market fentanyl dealer isn't going to say "Sorry, I only accept bitcoin."