Guys I just want to know 2 things.
When moon?
And
When Lambo?
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They could.
Sub prime was not the same. Few people understood what was happening until it was too late. What could have been 'shut down'? Do you mean refusing to bail out banks?
There was nothing that could be easily shut down. Obama later shut it down by implementing new regulation, which Trump waived again. Nothing the SEC could do.
Someone who lies about the little things will lie about the big things too.
Explain to me how the US Fed could shut down bitcoin?
And are you really saying no one knew what was happening with the sub prime crisis? That’s laughable! The bigger banks were actively shorting the funds they were also promoting which they knew were about to default. Maybe they were just guessing?
Edit: I wouldn’t have bailed out the banks. Bail them out once, and what do think happens the next time they have a risky call to make? Not rocket science.
Last edited by demonloop; 25th June 2021 at 22:17.
And what would I know anyway, as a bonefide tinfoil-hat-wearing conspiracy theorist?
https://web.archive.org/web/20081216...s.ap/index.htm
They could legislate against it. Like the Chinese are doing. I'm not saying they will, but it is a possibility.
Now, on sub prime I believe I'm on firmer ground. What you are describing happened near the end game, when more people understood what was going on and, understandably, took action to limit losses or to not be the bagholder. Again, how could that have been 'shut down'? I assume you mean by legislators?
Seriously?
It was the government that refused to implement legislation. Nothing the Fed or the SEC could do without a legal basis. You can accuse Bush and his lobbyist-infested administration, they were on Finance's payroll and worked actively against regulatio - as did the Trump administration again when they gutted all the work of Obama.
Today we have an outright fraud and the Fed has watched this circus already far too long. About time they act, and I am convinced they will shut tether down during the next weeks.
Someone who lies about the little things will lie about the big things too.
Got stopped out of another 200 contracts, was making the mistake to drag the stop too close and a $32,500 stop was taken out this morning at 7:00h CET just before the price finally collapsed. Rookie mistake, I had completely misjudged price action after if went through $32k yesterday and should have left a bit more space for erratic moves.
Now $30.8 and I am only short 200 contracts.
Account balance 0.355 BTC = EUR 9,165
Someone who lies about the little things will lie about the big things too.
When are you thinking to go long again?
Another bounce off $28,500?
Lot's of activity to defend the $30k line. Low volume at the moment, let's wait until the US wake up.
Arrow shows where my stop was liquidated.
Someone who lies about the little things will lie about the big things too.
40k incoming. I can feel it in my water.
Someone who lies about the little things will lie about the big things too.
It could all be down to a few whales like Max Kieser sat at home slowly making themselves the richest people on the planet.
Sell £1bn worth of BTC…..price drops, buy £1.1bn worth of BtC for £1bn……and repeat. Eventually you’d become the richest bloke on earth.
He’s never told anyone how many Bitcoins he owns, but given that he was creating crypto coins long before Bitcoin was invented and he started mining and buying Bitcoin on day 1……..one would imagine he has quite a few and would find it child’s play to manipulate the markets on a daily basis.
https://en.m.wikipedia.org/wiki/Max_Keiser
Someone who lies about the little things will lie about the big things too.
Typing error on the trade? Or is that too simplistic?
Thousands of trades, not one.
Meanwhile, in the real world:
The UK’s financial watchdog has ordered Binance to stop all regulated activities in Britain and imposed stringent requirements in a stinging rebuke of one of the world’s biggest cryptocurrency exchanges. The intervention by the Financial Conduct Authority in recent days is one of the most significant moves any global regulator has made against Binance, a sprawling digital asset firm with subsidiaries around the world. The exchange has until Wednesday evening to confirm it has complied with the watchdog’s demands, and removed its advertising.
The intervention is a sign of how regulators are cracking down on the cryptocurrency industry over concerns relating to its potential role in illicit activities such as money laundering and fraud, and over often weak consumer protection.
The FCA also this weekend issued a consumer warning against both the Cayman Islands-registered Binance holdings company and Binance Markets Limited, a London-based affiliate that is controlled by chief executive Changpeng Zhao and is overseen by the UK regulator. “Binance Markets Limited is not permitted to undertake any regulated activity in the UK,” the FCA said, adding, “no other entity in the Binance Group holds any form of UK authorisation, registration or licence to conduct regulated activity in the UK.”
(...) As part of the FCA’s actions, the regulator ordered Binance to display by next Wednesday on its website that, “BINANCE MARKETS LIMITED IS NOT PERMITTED TO UNDERTAKE ANY REGULATED ACTIVITY IN THE UK.” Binance Markets Limited also must “secure and preserve all records and/or information . . . relating to all UK consumers from its systems” and halt any advertising and financial promotions.
Financial Times
Someone who lies about the little things will lie about the big things too.
Spot trading is unaffected, just leverage trades being banned. Looks like your fun is over Raffe. Shame, it was interesting to watch from the sidelines while it lasted!
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In that case, let the show resume!
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Indeed, by all accounts there’’s a wall of buyers at/just below 30k (me being one of them )
I’m keeping some dry powder for it going down to 20k, which I consider a 50/50 chance with it blasting up to 100k by September. I’m happy either way
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Looks impressive, the moment CME futures opened it was off to the races. I considered buying at $33.5, but then thouight better. Will wait until tomorrow and decide then. Still an unfilled gap in the low $32s.
Someone who lies about the little things will lie about the big things too.
Bought a small position this morning. Not that I have a strong opinion, but the market feels like it wants up and in the absence of strong conviction I will just go with the flow.
Someone who lies about the little things will lie about the big things too.
What does the 25X mean?
I notice on my Binance the BTC/GBP has a 3X after it and I have no idea what that means.
I thought it had something to do with the leverage, but in my case, it does not.
Someone who lies about the little things will lie about the big things too.
Well played, Sir!
Actually, I designed my trading framework to prepare against a collapse of tether, I chose coin-based futures so that I would never hold and stable coins or cash with Binance and my thinking was that whatever happened, I would somehow get my bitcoin out to either another exchange or cold storage. But the more I have read up on tether and Binance's involvement in the fraud, the more I lost trust whether the whole thing isn't entirely made up from hot air. After all, Binance is not regulated and not audited according to financial standards. In a regulated environment, I wouldn't need to worry about my assets becoming embroiled in a Binance collapse: banks and other regulated firms hold assets for clients on a fiduciary basis, only cash is a claim against the counterpart (it becomes a bit muddier when leverage comes into play, the key word is rehypothecation). But can I trust that this applies to my assets with Binance?
I wouldn't bet a penny on it, and that's why I decided yesterday to close down the arrangement.
It was fun while it lasted, but no point playing if I lose it all when my core market hypothesis (bitcoin is worthless) proves true.
PS: just got the confirmation from my bank: money has arrived safely.
Someone who lies about the little things will lie about the big things too.
Since when are they stoping us making withdrawals??
I read that they're just stopping leveraged trading while they seek the relevant approvals from the FCA.
I've had no communication from them about any changes and it all still seems to work as usual. (Not tried trading)
Binance customers frozen out of withdrawals via key UK payment network
They don't seek FCA approval anymore, they have withdrawn their application because the FCA has told them they won't get it:
The suspension comes after the UK’s Financial Conduct Authority on Friday ordered Binance’s regulated UK affiliate to halt any financial activities in traditional currencies in the UK. The group also withdrew its application to be a registered crypto exchange last month after extensive discussions with the FCA. The regulator’s primary focus when reviewing such applications is practices and controls related to preventing money laundering and the financing of terrorism.
Someone who lies about the little things will lie about the big things too.
Stating that it’s due to concerns over money laundering and financial terrorism is somewhat laughable, given that Binance need to know exactly who you are and have photo ID and a mug shot which you have to upload to open an account (which has to match up well enough to your photo ID)
Also, and deposits and withdrawals go into and out of a regulated bank account.
So I’m fact, I’d say that in terms of money laundering at a personal level, I’d find it way more transparent that using one of the old tried and tested methods with cash/gold/ebay sales/artworks/diamonds/etc.
What’s the real reason they’re causing trouble?
Keep drinking the cool aid.
Crypto is riddled with money laundering, it is indeed it's main value proposition. Binance's account opening routine is a laughable joke, believe me I did it a month ago. Never has a firm been less interested who I am and what I do. Have you opened a traditional bank account lately? Banks will ask you to prove the origin of your money, including tax statements. A typical account opening at a private bank takes more than a month nowadays. Binance? One minute. It's nothing but an alibi.
Also, leaving this here: https://archive.ph/W5DCj
And if you want to know what Binance is really about: https://twitter.com/cz_binance This is supposed to be an exchange, yet all they do is pumping all cryptos. Have you ever seen the NYSE pumping equities and telling people to hodl or buy the dip? Thought so.
Someone who lies about the little things will lie about the big things too.
I will have to find another way to implement my bearish view on bitcoin. Just stumbled across this blog post, really saves me typing it myself because this is exactly my point of view.
Will look into the options later today. Not sure about shorting Coinbase, but MicroStrategy is made to go short bitcoin, with a downside accelerator (= full payout) already when bitcoin goes below $25k and the company will have to file for bankruptcy.
More later.
Someone who lies about the little things will lie about the big things too.
Maybe it’s different in Luxembourg.
Took me a while and had to wait for verification of all ( a lot!) of my personal details. To the point that I felt a bit uncomfortable giving them so much info!
It’s odd that Binance is being globally targeted by the authorities as being bad and a hot bed of money laundering and scams, while Coinbase is being lorded up on the Nasdaq and even has a licence to operate in New York. (The hardest place to get a crypto license)
Don’t get it.
https://www.coinbase.com/legal/licenses
Last edited by mr noble; 29th June 2021 at 10:01. Reason: Added link
There is no country in the world with higher AML standards than Luxembourg. Try opening an account here.
Binance has the same non-existent standard in every country they operate, absolutely no difference where you live (they even allow NY residents, despite being banned for business in the state and GTC provisions that they don't offer accounts to residents of NY).
Someone who lies about the little things will lie about the big things too.
Obviously I know nothing, but I'd be just as nervous to short or buy puts as I would be to go long just now.
The naysayers have been naysaying since the inception of BTC in 2008, and so far, they've all been proven wrong and none of them has been proven right.
Place your bets.
The Binance stuff is odd. The likes of Natwest limiting money movements to any crypto firm is odder still - if you have the money in the account, let people move it how they see fit.
All in all the upside is for Coinbase, Kraken, Luno and newer apps like Ziglu (in the UK) that have their act together.
I am sure it's only FUD.... Kep hodling.
Binance customers have now lost both of the channels they use to withdraw sterling from the system, marking a significant outage for the crypto exchange that uses London as one of its main links to the region’s traditional financial network.
The Cayman Islands-registered entity said on Binance.com that the ability to remove or add sterling to its main platform using bank cards had been “suspended for maintenance”. Earlier in the week, the Financial Times reported that customers were also frozen out of Faster Payments, a major UK payments network that provides quick transfers between the country’s banks, a restriction that the exchange also said was due to “maintenance”.
Together, that closes off the only two methods for pulling sterling from the platform, according to Binance’s website. Binance said on Tuesday that it expected Faster Payments “should be available” again later in the morning. It did not immediately comment on when or if card payments would be restored.
Financial Times
Someone who lies about the little things will lie about the big things too.
Email I received earlier, seems like withdrawals aren't affected:
"We wanted to let you know that GBP Bank Deposits (via Faster Payments) and GBP Bank Card Deposits have been temporarily paused.
GBP Bank Withdrawals (via Faster Payments) are still available for users to cash out. In the meantime, you can still buy cryptocurrencies with GBP via Credit/Debit cards on Binance.com"
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Someone who lies about the little things will lie about the big things too.
Faster payments, whilst convenient, isn’t the only way to skin a cat