Bitcoin gamblers what is elon musk up to

Wont be long before we get a digital Euro and pound, the ECB is already looking at doing the euro

so are the BoE

^^^^^the cryptotard right in there with an aftertime

Crypto could be a currency we can use to bet with offshore bookies if BF etc. ask for checks...

Sure. if you don't mind your winnings dropping by 20% between placing the bet and the horse winning.

And, more to the point, the bookie doesn't mind your stake dropping likewise on the losers.

screaming: its not always this unstable is it ?

It doesn't matter. It clearly can be, that's all that matters.

Besides, it fluctuates at least 5% every day. What bookie is going to accept stakes on that basis? He could be running a perfect book, yet end up doing his bollocks because of a couple of days going against him on a market over which he has no control,

at present its not really a currency,the vast majority just use it to gamble on but claim they are investing

lots licking wounds but cracking prices now glad i got out of bitcoin a while ago and loading up more other coins, you only lose if you sell you lose nothing if you hold them, the weak have sold done the money its a con the experienced gamblers used to ups and downs dont sell they hold

wallets no need use gemini very secure they text you a new log in every time you log in if you want and you lock the account so no withdrawls unless you contact them

Screaming, there are coins that are "stable coins" that are paired/married to a fiat currency ie $ for now but euro & gbp coming soon, for every coin issued/sold the same amount of "real" money is put aside to match it, so if can't dump/pump and moves up n down by 1 or 2 cents but generally stays 1 for 1, so it can be used and is esp in countries with super inflation

so whats the benefit if its paired to the dollar ? if the dollar goes up or down wouldnt the 'stable coin' do the same

no the dollar is always $1 whatever its trading in exchange markets, so the crypto coin is always worth $1 to, so in Venezuela their inflation is running at 2050% odd so their money worthless, people can use crypto dollars and avoid that, many do.

so the only benefit is you dont need physical dollars,a crypto dollar is just a dollar bill

Probably as a transfer of value, a decentralised system and no 3% (at least) surcharge?

That's one hell of a counterparty risk, cracked house. Do you really trust the spivs behind that sort of scheme to diligently buy dollars for ever more for every coin they sell?

If the coin is a success, they couldn't afford to, and you'd never see the coin-sellers again. And if the coin is a failure, well, that's your problem = after all, they've still got the dollars you initially invested to buy the coin.

Yes theres proof of the holdings in escro, goggle tether

https://www.tokens24.com/cryptopedia/basics/what-is-usdt-and-how-does-it-wor...

USDT is a Tether, which is a cryptocurrency that is tied to a fiat currency for stability. Read on to understand what it is used for, why it was created, and why you might want to get some.



What is USDT?
It is a cryptocurrency released on the Bitcoin blockchain through Protocol Omni. Its value is exchange rate is fixed or tethered, to the value of the US dollar.

The only reason why 1 USDT is actually worth $1 USD is that exchanges keep a reserve of USD to back every USDT in existence. USDT can be spent, traded, or transferred, like Bitcoins or any cryptocurrency. They can also be stored in specialized wallets that are Omni compatible.



Why Was USDT Created?
Tether currencies were created to handle three major issues: to help with national currency transfers, to provide a stable Bitcoin, and to provide another option for checking.

The blockchain can verify the USDT in circulation and the TUSD which is the total USDT in circulation at any time. This amount must equal the amount in the bank account used by Tether Limited to receive and send money to buyers or to pay tethers on the Tether platform.  They have regular audits by specialists to check balances, deposits, withdrawals, and transfer reports.



Why Invest in Tether?
If Tether is tied to fiat (national currency) and over time currencies naturally erode their buying power due to inflation, why invest in Tether?

It has a few good things going for it

Transaction times –
USD deposits and withdrawals often take 1-4 business days to complete in a traditional banking system. If a transaction has occurred at night or weekends when the bank is closed it could be longer.
Tether transaction times take place in minutes which is a boon for cryptocurrency traders who often want to rapidly trade in minutes not days.
Transaction fees –
SWIFT (Society for Worldwide International Financial Telecommunication) transfers are expensive at $20-$30+. Especially if you are using a fiat that is not supported by the exchange because you are then adding a fee for Forex conversion and a percentage on the transfer.
Tether charges zero transaction fees between Tether wallets
Price Stability –
Cryptocurrencies are volatile when you want to purchase them buy with Tether, not another currency. Currencies are not stable enough as assets.
Many exchanges do not take fiat but will take Tether.
Sidelining –
Taking no position while something is going on. “Cashing out” and waiting for another opportunity or the market timing to be right. Be ready with your Tether. No need to risk and leave money on exchanges.


Conclusion
Tether has its place among cryptocurrency filling a niche where fluctuations will not do. As with any cryptocurrency be vigilant and continue to research and keep your eye on the news for any information as you begin investing.

Citcon partners with Flexa to bring digital currency payments to merchants worldwide, thats yesterday paypal and the like all doing it, you can even spend doge coin lol

just like betfair, just like new things it takes time to adopt until the mainstream population get it then it will go very big, i think we all know the banks and governments are bankrupt, inflation and interest rate rise will devalue paper money

Its a very dangerous game when fiscal principles cant be used to control the economic outlook.
When the central bank cant raise interest or print money to warm up or cool the system there would be massive ramifications.
Thats why it wont be allowed to become what the supporters want it to be.
The centralised version will squash it, everyone will have much more confidence in the centralised bank quarenteeing deposits....the only drawback is that the state will know everything about every individual....but Im not buying that they dont know that already.

The argument that privacy would be in danger if the state knew everything is a defunct bit of logic.
In I think 2016 the Communications Act gave license for a whole list of organisations the right to sift through any individuals financial affairs under the argument that there was reason for suspicion you were attempting to 'harm the UK finances' (thats not the eact term I forget what it was off the top of my head)
It was a pretty open subjective argument that allowed for any interpretation for example tax avoidance.
A judge would only be notified you were being audited after the event and as long as the process was in general order of the law you'd never even know you were being investigated.

OK. I googled tether.

Deltec, Tether’s Bahamas-based bank, announced Thursday it was investing some customer funds in bitcoin. A lawyer for Tether denied that any of those funds were Tether’s.

Well, that's a relief. Because otherwise that would be a Ponzi scheme.


Deltec made headlines in 2018 after Tether published a letter from the bank announcing it had $1.8 billion in cash and other assets, roughly matching the amount of USDT in circulation at the time.

A Deltec executive later confirmed that the letter, which was unsigned, was authentic.

The next year, the New York Attorney General’s office revealed that Bitfinex, Tether’s sister company through shared ownership and executives, had lost close to $1 billion after its payment processors’ bank accounts were frozen and funds seized. Bitfinex had been covering up the losses by borrowing from Tether’s reserves, which are meant to back the stablecoins it has in circulation.

The companies are currently under an injunction to cease any further loan activities between themselves, though this injunction is set to expire on Jan. 15.

What's that about the funds being held in escrow? I guess they must have just been resting in the Bitfinex account.

https://www.coindesk.com/tethers-bank-says-it-invests-customer-funds-in-bitcoin

Think it’s fair to say the crypto moon trip is cancelled.
The ‘establishment’ ringing it in from all sides.
IRS forcing companies to declare 10k and over transactions...won’t be long until its taxed directly to make way with the ‘official’ centralised coin.

The beatniks had their fun, now it’s time to roll up the carpet and put out the josticks

Buy gold

you lose nothing if you dont sell, the get rich quick newbies bought, sold and lost, the markets always been up and down, when you see goverments starting to panic then you know crypto will disrupt goverments and banks

But the government and banks hold all the cards.
And you don’t lose what you never cashed out, but that ethereal number those that didn’t looks in great threat now.

didnt musk say tesla will stop using bitcoin a few days before the chinese government gave a bit of a warning about it not being a currency,sounds like they had a word with him

"buy gold"


...and silver

physical not paper

the goverments think they hold the cards and rushing to try to tax it but you can still have a wallet that they cant touch or tax there is even bitcoin atms all over so can cash out other ways 199 in the uk and 114 in london, no bank account no identity, cash in or out

a year ago bitcoin was 7k now even after the crash 28k

But the playingfield has been clearly defined; they wont allow it to be used as a transfer of value, the state version will be the one for that.
The price speculation was based on its potential. High finance wont give it a seconds thought when all you can do is day your online dealer.

pay

Youve made just about all you are going to with it Im predicting

Gold ?
PAX Gold (PAXG) is a commodity-backed, gold stablecoin issued by Paxos. Each token is backed by 1 fine troy ounce of gold kept in Brink’s vaults managed by Paxos. PAXG allows for exposure to Gold markets without using an ETF, futures contract, or other derivative product.

PAXG was initially issued in September, 2019 and has seen significant growth in market capitalization and volume as gold prices have fluctuated significantly in 2020. PAXG’s advantages over other gold trading products include abilities such as 1) redemption for physical, allocated gold 2) fractional ownership 3) no holding fees (fees charged upon creation/redemption/transfer) and 4) instant settlement.

These features have helped the market capitalization of PAXG grow to over $50M.

In fact you have to wonder if even the West will allow it once the state has a version, after all why would people be using it?
Its like the Tor browser or end to end encryption.
Where do you think the spooks start looking?
At joe blogg's convos with his grandma over facebook?

PAXG
PAX Gold
PAXG
£1,344.36 GBP
+
£67.59
(5.31%)
i can buy or sell instantly with a debit card or transfer it was 1500 a few days ago but generally steady

bitcoin its untraceable if you want it to be goverments coins will be taxed capital gains and the like and all eu goverments are bust

You have to go to great lengths to make it untraceable, and there will be areas along the way that highlight to those interested that somebody is going to such lengths. Many things that are assumed to be private, arnt.
Besides the point was they'd force even small payments to be declarable making it pointless.
You pay capital gains on speculative profits from crypto do you not already?
Governments being 'bust' is the type of argument that inspirational types give, the point is they are lenders of last resort backed by tax revenues and the law. If BoE cant print money when the economy needs it or raise interest rates it will be like the wild west.

You, as a few others have made a few quid poncing off a speculative market while tech types have promised you a new future vision.
Well the banks and government have the real power to piss out all those fire.
Take your profits and thank yours lucky stars

May 22, 2021 -- 2:07PM, dustybin wrote:

You have to go to great lengths to make it untraceable, and there will be areas along the way that highlight to those interested that somebody is going to such lengths. Many things that are assumed to be private, arnt.Besides the point was they'd force even small payments to be declarable making it pointless.You pay capital gains on speculative profits from crypto do you not already?Governments being 'bust' is the type of argument that inspirational types give, the point is they are lenders of last resort backed by tax revenues and the law. If BoE cant print money when the economy needs it or raise interest rates it will be like the wild west.

You could use a tumbler for anonymity

wouldn't a bucket be better?

Silver squeeze brigade expect the end of June/start of July to be the next spike in silver price, $30 per ounce +

Basel3 getting a lot of hype.

up and down like a yo yo but patience in gambling is required

latest company up 75% in a month and still 300% below its highest, people suggesting silver and bitcoin as good investments

was reading an article about how technology will speed up the process of buying shares ect, so retail investors can execute trades faster and how the big institutions are still able to get the best deals and reap the rewards before the retail investors get a slice of the pie

DMA has been around a while but if you get it through a broker you arn’t buying stock you are taking out a CFD. In most cases it will serve a similar need, except it gives the broker the chance to either front end your purchase or take you on, and since you don’t own stock it’s non transferable and therefore could become problematic if you have to close it with the same broker.
L3 is available but I think you need a license. Non of this matters to the vast majority unless they want to become a market maker.

On crypto. Wow, there’s still some blind optimism here. Even supporters believe this is the next crypto winter, except this time there are a whole litany of objections and me thinks a smelly scandal large enough to sink it completely. Their erratic ‘poster boy’ seems to have had his head turned (while authorities again question his actions) and development of state coins are well under way around the world.
I’d not go near Bitcoin.

Cryptocurrencies continue to be volatile as they plunged on Tuesday morning amid a sell-off after former US president Donald Trump said bitcoin was a "scam".

“Bitcoin, it just seems like a scam,” he told Fox Business. “I don’t like it because it’s another currency competing against the dollar… I want the dollar to be the currency of the world. That’s what I’ve always said.”

Back in 2019 when he was president, he had said he was “not a fan” of cryptocurrencies.

In a tweet, he had said at the time cryptos “facilitate unlawful behaviour, including drug trade and other illegal activity”

Bitcoin was down 8.5%, to trade at $32,871 ($23,252).

Ethereum (ETH-USD) — the world's second largest crypto by market cap — fell about 9% and was trading at $2,498. Meme-inspired dogecoin (DOGE-USD) plunged 12.6% to trade at $0.324.

i dont hold bitcoin, sold mine before this crash at a great profit and ive no need or want to purchase it again, ive bought into a token with purpose and have a large bag just holdling and accumalating at these low prices

whats el salvador like to live in as bitcoin legal tender shortly, when something disruptes the worlds money and all the nations are bankrupt what happens to real money, inflation and intrest rate rises which is coming

El Salvador is nice. What makes you think all (or any) nations are bankrupt, know all?

take away the stimulus today and tomorrow you will see how many are not bankrupt

Musk is a tool.

take away the stimulus today and tomorrow you will see how many are not bankrupt - GAZO

Firstly, it won't happen, the Fed have been quite explicit in saying it will print $ when times suit.

Secondly, all the money in the world couldn't buy Wyoming, so the USA can back up the dollar in a way that nobody can back up bitcoin.

Not everything in economics is a cycle, most things change for good - Alaska is never going back to its purchase price and you'll have a long wait before you can buy a Van Gogh for a bottle of Absinthe.

All national curriencies diminish over time its an effect of growth, even Voltaire wrote about it.
The idea that speculative bitcon in a realm that makes up its own rules for the betterment of extortionists will be the answer, when the likes of state run digital dollars will exist is whimsy of the highest order.

There are so many reasons state coins will win. They will be assignable to the exact purpose for what they are intended, meaning benerfits will be paid in tokens that will only be accepted in certain places for eg
plus theyd be underwritten by the state, why would anyone put money in speculative ventures that has nothing but air underneith?

think bitcoin will reach a 100k eventually, only a matter of time, nothing to do with crypto currencies, there are already people who ary buying digital art for £80 million

https://www.politico.com/news/2021/06/07/us-colonial-pipeline-ransom-payment-492058

This is interesting. 

But the FBI was able to recover the money only because it had separately obtained the private key for the wallet where the money ended up. Without that key, the money would have remained locked away, as is true in many other ransomware cases. Officials did not say how they obtained the key in this case.

I wonder how they got the key?

The police hijacked that european criminal messaging app a few months ago, perhaps its that.

Infiltrated perhaps the word.

I think "created" is the word

The FBI and Australian officials developed an encrypted device company which eventually gave them access to hundreds of criminal networks.

https://www.nbcnews.com/news/world/hundreds-arrested-around-world-global-organized-crime-sting-n1269920
.

El Salvador is nice. What makes you think all (or any) nations are bankrupt, know all?

when you print money like they are all doing, you cant borrow the numbers they are printing, its which small number arnt bust, we nearly fell uk in 2008 think they had 24 hours before we failed, think you might find covid is the plan to maybe sieze wealth why would they be ruining the likes of the travel business on purpose making up variants as they scare us all to death, june 21 was never going to happen from day 1, they know that its control, as for bats which they ate for thousands of years ffs of coure its man made

Some crackpottedness going around.
Central banks print money in return for government gilts and the government then uses the funds to buy corporate bonds.

What is a better way?
Having a crypto that has nothing underpinning it other than 'scarcity'?
I seem to recall bitcon already having to have its basecode or whatever its call rewritten once before as it contained errors, whats to stop an even greater flaw being found in the future?

Quite a lot to unpack, there, know all.

Cannot see central Bank CBDC'S  Being much danger to BTC
When all they do is sit there loosing value.

know all, I thought you said that you weren't going to sell until bitchcoin reached $100k?

dustybin,when do you suggest they stop printing money to do that ?

They perhaps never will, just as one of the mechanisms used by many nations with large economies (and some pokey banana republics)
But inflation can be controlled in large economies so its not such an issue.
Ofc the nagative is that holders of wealth are actually having their esates dwindled in the process, but whats the alternative?
There is no perfect remedy.

negative

how do they control inflation ?

There are a number of ways, each under their own economic theory. You are better seeking those answers on the internet.
We are largely caught up in a cycle of creative destruction where enterprise is given the leeway of wealth creation through corporate efficiencies, following investment from the state which improves product and (hopefully increases wages)

I suspect you are about to tell my your alternative where pretend wealth that is primarily used by people with things to hide convince the world crypto money should retain the same confidence in it as establised currencies of nations backed up by GDP?

no interest and have no idea about bitcoin,crypto or whatever it is call or how it even works

BITCOIN is Deflationary.

Its a commodity
The idea it's a store of wealth has largely hit the buffers since the first fart of inflation and people return to gold....after all it has tangibility.

*I just have to add to that before somebody jumps down my troat

It is tangible, but like all financial mechanisms within opportunism it is also nothing more than a contract if bought the same way as crypto. Which itself is largly worthless if s hit hits the fan

If you buy sovs then you are really buying gold, but that rarely actually happens

Anyone holding a year would be happy to call it
a store of value.

Store of wealth
Transfer of value

Both highly suspect and waiting for the child to call 'no clothes'....or for a scandal to appear big enough to rock the boat.

I hear supporters refering to 'institutional investors' and have to laugh like them having a desk in the odd merchant bank simply because people were buying it is some kind of vindication.
Merchant banks akin toe Sachs etc dont do things for the good of community, they do things for profit. Theyd have bought and sold ostrich feathers.

Been through the "Kings's got no clothes" hundreds of times
and they have cried" wolf" as many.
Bitcoin is the gift that keeps giving.

Until it isnt.
Everthing has a life cycle, even daft ideas.

im in very very big with amp/flexa on gemini 1p and 2p now 3.2 p and major news just out going to be listed on thursday on coinbase its a token with a great use im hoping its better than the frankels with the 40/1 tip on saturday maybe not as much but its not financial advice but its a big price winner lol

Some crackpottedness going around.
Central banks print money in return for government gilts and the government then uses the funds to buy corporate bonds

if you really think that what is happening lol no a chance in hell


i got rid of bitcoin as it has to double to get 100% my 1p-2p amp/ flexa has to go to 2p-4p for the same return and its 3-32 now and just about to increase how much lets just see lol i do have hundreds of thousands but you can at 1-2 p
gambling at its finest lose the lot or win it all

Know all

You are told to think the virus was man made, and no doubt a world of other YouTube crazy 5hit
I’m not sure you even know what to think beyond some influencer bumrot no c unt.
You think there’s glory in opportunism, and to a certain extent there is, but if all you can do is parrot some sponsored chancer forwarding a message of some new tangled twaddle then you will find the time you get burned hard.
You may well make money as the collective idiots run with the crowd, all believing the impecunious have a chance of something.

We will find out soon enough
I have watched cryptocasey on YouTube. She has a slanted view of economics, yet in the process of ‘information’ where she reads a selection of biased views she has 7 double adverts and 3 implied adverts which she gets a percentage of.

And btw, musk is no less a populist than all the previous admonished typed, except this one appeals in kind to the baseless simply because the majority have nowt.
It’s pretty poor to be told you can’t use Twitter without an adult lawyer diving your tweets, but that’s the reality.
But even he is realising the arse could fall out of crypto any moment and has tried to worm his way out of responsibility.

Cutting through all the crap, there are 2 cryptos that matter
Bitcoin and etherium.
One of those goes down, everything fails, never mind tokens ffs.

on chain analysis shows btc wallets holding 1000+ btc have been snapping up all the cheap btc, while the newbies small stash holders have been dumping, its a false flag dump, just the rich removing btc from lettuce hands new buyers who've **** themselves.

#Bitcoin whale addresses holding 1k+ $BTC
are back to holding 7.88M tokens. This is the largest amount of $BTC held by whales since Mar 14. This coincides with just 2.65M $BTC held by addresses with 10 or less $BTC, their SMALLEST amount in 6 months.  https://app.santiment.net/s/K7i6FZdQ?utm_source=twitter&utm_medium=post&utm_...

False flag and lettuce hands should be all normal folk need to hear

diamond hands from thursday lol i wish

i've been thru every crash since 2017 they're par for the course, weeds out the weak.

if mine goes to a pound im off to el salvador you will all be glad to here, more like 5 pence lol 43 million coinbase users have a chance to buy it for the first time at 3p on thursday fingers crossed every 1-2p increase means 100%, its flipping exiting just like a winner but at what odds

Like penny shares
Most go tits up

bitcoin to penny shares, the wolf of wall street

licking my wounds and cant sleep with the exitement of the listing the champange will be sweet or will it be pomagne lol thursday will tell, the congratulations will flow im sure

One of the appeals of cryptocurrency is that its not, well, err.. the US Dollar.

The USD is subject to market fluctuations by the second. ITs a very incovnenient system to do business. Mark Carney, former governor of the bank of england has stated that outright. Furthermore he said its a belief held universally by international bankers.

What we are seeing here, in the current wave of negative crypto stories, is a king-canute-style pushback against the inevitable by the Mainstream media.

At some point the dollar is going to have to make way. The world is not run by banks and oil producers. Its run by Tech behemoths that bestride nation states.
They know as do our governments and all the ultra rich, that the future is technology. The future is crypto.
And at the moment that means bitcoin.
Something may supersede it, but there is nothing in the offing. The odds would have to be in favour of bitcoin should the world switch from the dollar to a cryptocurrency to do its business. As they know and we all know is going to happen.

Keep the faith.

Dot com crash

The centralised versions will win, I’m incredulous in thinking anyone actually believes the authorities will allow the version of crypto at present to become somehow mainstream.
It’s pure whimsy.
People used to say the beatniks of Californian tech industry would free the world, they floated their tech companies, got sued on employment issues just like any other company and ultimately created a world that actually tracks everything you do.
You tend to find the dystopian prophesies are the ones that prevail. China are pushing ‘Skynet’.
Remember in terminator, there was a skynet in that too, not entirely different to the authoritarian AI of the real world.
Do the daftie s honestly think populist musk will save them? Pmsl.

'the usd is subject to market fluctuations by the second' and bitcoin is not

I just read about El Salvador

That’s going to be such a car crash. Apparently businesses there will have to take Bitcoin....which means there will be plenty of opportunity to get ripped off, I can imagine they’ll close on the highs. The government will act as backstop, which I’m certain they’ll end up regretting.

But the line that defined the whole affair was this one.
‘70% of the population don’t have a bank account’

So Dewsbury then.

bitcoin you dont need a bank account you just need a phone and in a few years we will all use them for payments

The data also revealed mobile payments made up 44.5% of all e-commerce transactions last year — double that of credit cards and three times more than debit card payments. Credit cards and debit cards are expected to hold the same market share in the next two years, making around 22% of POS payments each. However, cash transactions projected to experience a significant dip, from 20.5% in 2020 to 12.7% in 2024.

my flexa/amp tokens tip is a mobile payment decentralised solution that you can spend bitcoin or dodgecoin, other crypto and the merchant/ shop gets paid in any currency he wants, its a instant transanction just flash your phone at the card machine, and no fraud or chargebacks the merchant pays 1%, your current banks charges that merchant 4-5% to use cards or mobile payment,and you will all be glad to know the amp tokens just hit 4.5p and climbing from my tip i gave at 3.2p on tuesday, so it is champagne for now the crypto market is down but amp is well up.
The volume transanctions in amp token was $65 million in 6 hours on the new coinbase exchange most were to buy 93% buy 7% sell

more countries will adopt crypto its amazing that bitcoin is now a countrys official currency its more secure than the bust banks imo

70% not having bank accounts ffs.
Do they wear shoes?

They are so confident that they will retain the dollar.
Has Bitcoin hit the moon yet in response?

isnt that flexa/amp company just gambling on the bitcoin price ? i assume they get your bitcoin if the merchant doesnt want them

What's wrong Chaps,Bitcoin going the wrong way  ,or Sumfing?

not bad amp/flexa gone from my tip 3.2pence to 5.6pence in a week, can cash out instantly, if it goes to 6.4pence bitcoin would have to double from 27k to 54k that why some gamblers are not in bitcoin, things can change quickly in crypto take some profits enjoy life , the work has paid off same as the horses, exiting stuff with more to come