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Cryptos
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I work for an international payments company and we wont let individuals/business pay to cryptocurrency businessescafcfan said:
Virgin Money. I think (but I'm not sure) it just applies to credit cards. (But they wouldn't work for trading anyway would they because of the merchant's fee?)Rothko said:
Although it is now reported in the FT that Barclays has banned UK customers from making card payments to Binance.0 -
My holding coins price on 10th May
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Today 😢
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The FUD, followed by the bounce - at some point ;-)
mine are pretty much the same. Just get out on the next time round when they go up again0 -
If you are convinced it’s going up, why wouldn’t you buy more now and lower your average?1
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You might be confusing 'convinced' with 'hoping'.ThreadKiller said:If you are convinced it’s going up, why wouldn’t you buy more now and lower your average?
Anyway, I've learned two basic approaches here:
1) HODL
2) Buy low and sell high
Sounds good to me.0 -
Put what I could afford in at the time. Sitting on a loss at the moment, so haven’t got any spare capital to invest now. That’s why I just have to wait.ThreadKiller said:If you are convinced it’s going up, why wouldn’t you buy more now and lower your average?0 -
Not suggesting you should now, but the mistake a lot of investors make is not having stop losses.cabbles said:
Put what I could afford in at the time. Sitting on a loss at the moment, so haven’t got any spare capital to invest now. That’s why I just have to wait.ThreadKiller said:If you are convinced it’s going up, why wouldn’t you buy more now and lower your average?
BTC etc is so volatile, IMHO you either buy and forget for a long term hold, understanding the risk/reward. Or you trade properly with stop loss/limit sales etc. It even with the former, you should have an idea of exit point.
Basically have a plan!! Quite a few of my mates have been very happy to tell me they are up 20k, but of course never had a plan so are now £10-15k down and less happy!!2 -
I've bought BTC atThreadKiller said:If you are convinced it’s going up, why wouldn’t you buy more now and lower your average?
£42,250,
£39,000
£35,000
£31,000
£29,000
£27,000
£22,000
There's my averaging, sadly 60% was at £42,250.1 -
current plan: short eth when it hits $2446, its about to hit some major resistance and will probably come down before it can even break through it. May come all the way down to $2,0000
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Didn’t hit my entry but entered a position anyway with a tight stop, so was right about the first bit (it coming back down again). Just gotta be patient to see where it stops.kentaddick said:current plan: short eth when it hits $2446, its about to hit some major resistance and will probably come down before it can even break through it. May come all the way down to $2,0000 -
It is difficult to see the tweet about the FCA notice as anything other than a lie. Binance offers derivatives in cryptos which are regulated products. Without authorisation in the UK it would be illegal for Binance to offer those products or even advertise them to UK-based punters.
The only way the tweet can be considered accurate was if Binance are saying they already knew what they are doing is illegal and don't care. It is beyond my comprehension that anybody would willingly give actual real money to these people.
Edited to add: Apart from the stuff about BML, the FCA notice could not be clearer in saying: No other entity in the Binance Group holds any form of UK authorisation, registration or licence to conduct regulated activity in the UK.0 -
binance is not a uk based business. Any uk based business is unable to offer crypto derivatives to uk retail customers.cafcfan said:It is difficult to see the tweet about the FCA notice as anything other than a lie. Binance offers derivatives in cryptos which are regulated products. Without authorisation in the UK it would be illegal for Binance to offer those products or even advertise them to UK-based punters.
The only way the tweet can be considered accurate was if Binance are saying they already knew what they are doing is illegal and don't care. It is beyond my comprehension that anybody would willingly give actual real money to these people.0 -
In my opinion, the FCA's rules possibly make the actual location of Binance irrelevant. It is the location of the punter that is key and in particular that Binance's web site is targeting UK punters with financial promotions on its web site. The FCA's prohibition is clear in that it bans crypto derivatives from being provided in or from the UK and bans them from being advertised. Now, of course, the difficulty for the FCA is actually getting hold of anyone from Binance to prosecute.kentaddick said:
binance is not a uk based business. Any uk based business is unable to offer crypto derivatives to uk retail customers.cafcfan said:It is difficult to see the tweet about the FCA notice as anything other than a lie. Binance offers derivatives in cryptos which are regulated products. Without authorisation in the UK it would be illegal for Binance to offer those products or even advertise them to UK-based punters.
The only way the tweet can be considered accurate was if Binance are saying they already knew what they are doing is illegal and don't care. It is beyond my comprehension that anybody would willingly give actual real money to these people.
The rationale for the FCA action is that their analysis shows that retail punters do not understand crypto derivatives and that many of them have made significant losses dabbling in something they do not comprehend.
Binance is based in the Cayman Islands - is that right? Yet they have no authorisation to trade derivatives there either! The phrase including the words barge pole springs to mind.1 -
I mean, i'm not defending binance - they're easily the shadiest of the crypto exchanges, but they're also the largest. I agree with the FCA, that not a lot of people know how to use crypto derivatives and essentially turn it into a casino.cafcfan said:
In my opinion, the FCA's rules possibly make the actual location of Binance irrelevant. It is the location of the punter that is key and in particular that Binance's web site is targeting UK punters with financial promotions on its web site. The FCA's prohibition is clear in that it bans crypto derivatives from being provided in or from the UK and bans them from being advertised. Now, of course, the difficulty for the FCA is actually getting hold of anyone from Binance to prosecute.kentaddick said:
binance is not a uk based business. Any uk based business is unable to offer crypto derivatives to uk retail customers.cafcfan said:It is difficult to see the tweet about the FCA notice as anything other than a lie. Binance offers derivatives in cryptos which are regulated products. Without authorisation in the UK it would be illegal for Binance to offer those products or even advertise them to UK-based punters.
The only way the tweet can be considered accurate was if Binance are saying they already knew what they are doing is illegal and don't care. It is beyond my comprehension that anybody would willingly give actual real money to these people.
The rationale for the FCA action is that their analysis shows that retail punters do not understand crypto derivatives and that many of them have made significant losses dabbling in something they do not comprehend.
Binance is based in the Cayman Islands - is that right? Yet they have no authorisation to trade derivatives there either! The phrase including the words barge pole springs to mind.
I think some one asked who's the loser when there's so many winners with crypto, the answer is: Bears (short sellers), shit coin buyers and leverage traders - two of the three groups are derivatives.
I don't think they should be banned (crypto derivatives) but leverage should be restricted to 5x at most. If you're scalping you might want and need to use higher leveraged positions.0 -
Its the heat that the FCA are putting on banks to block payments into Exchanges which is worrying0
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I cant see it being some kind of conspiracy by the traditional financial institutions to bring down crypto. There must be good reason behind these moves. I think people should be wary if they have more than they can afford to lose at stakeRothko said:Its the heat that the FCA are putting on banks to block payments into Exchanges which is worrying0 -
I’ve got a bit of money in ZIL through Binance. Bit worried now! 😬0
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Should I be moving my coin off binance onto either my ledger or another exchange?0
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Can’t wait for crescofin to launch their accounts now. Proper bullish on defi banks after these shenanigans.0
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BTC daily RSI looks like its going to break out of a 6 month long trend soon. Big move incoming.0 -
Rylo said:I’ve got live got a bit of money in ZIL through Binance. Bit worried now! 😬
Nothing to worry about gents, no need to panic.FishCostaFortune said:Should I be moving my coin off binance onto either my ledger or another exchange?
Ledger always a good idea but if you are happy with keeping them on an exchange then no reason to move off Binance.2 -
Is that forecast (which way incidentally?) really based on those two blue lines (one of which is a straight line between two points - who would have thought it?)?kentaddick said:
BTC daily RSI looks like its going to break out of a 6 month long trend soon. Big move incoming.
And I'd hope that 'technical analysis' would be a bit more sophisticated than the diagram shows.
Umpire's call, I reckon.1 -
https://www.investopedia.com/articles/trading/06/trendlines.aspDave Rudd said:
Is that forecast (which way incidentally?) really based on those two blue lines (one of which is a straight line between two points - who would have thought it?)?kentaddick said:
BTC daily RSI looks like its going to break out of a 6 month long trend soon. Big move incoming.
And I'd hope that 'technical analysis' would be a bit more sophisticated than the diagram shows.
Umpire's call, I reckon.
"I'm not trolling" - @Dave Rudd
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So, no answer then?kentaddick said:
https://www.investopedia.com/articles/trading/06/trendlines.aspDave Rudd said:
Is that forecast (which way incidentally?) really based on those two blue lines (one of which is a straight line between two points - who would have thought it?)?kentaddick said:
BTC daily RSI looks like its going to break out of a 6 month long trend soon. Big move incoming.
And I'd hope that 'technical analysis' would be a bit more sophisticated than the diagram shows.
Umpire's call, I reckon.
"I'm not trolling" - @Dave Rudd
You do realise, don't you, that when there is an apparent downward trend, there are only three possibilities next?
1) The downward trends continues
2) The downward trend levels off
3) There is an upturn in the downward trend
Nice 'technical analysis' to sort out that minefield.
'Trolling'? I'm not sure that we need that. It's far too easy using science.0 -
No answer to what?Dave Rudd said:
So, no answer then?kentaddick said:
https://www.investopedia.com/articles/trading/06/trendlines.aspDave Rudd said:
Is that forecast (which way incidentally?) really based on those two blue lines (one of which is a straight line between two points - who would have thought it?)?kentaddick said:
BTC daily RSI looks like its going to break out of a 6 month long trend soon. Big move incoming.
And I'd hope that 'technical analysis' would be a bit more sophisticated than the diagram shows.
Umpire's call, I reckon.
"I'm not trolling" - @Dave Rudd
You do realise, don't you, that when there is an apparent downward trend, there are only three possibilities next?
1) The downward trends continues
2) The downward trend levels off
3) There is an upturn in the downward trend
Nice 'technical analysis' to sort out that minefield.
'Trolling'? I'm not sure that we need that. It's far too easy using science.
Yes, a downward trend, which is then getting squeezed by higher lows - what happens then? Sure, it could mean a big downward break out, but it could also mean a big upward break out. If it was to break downward to a lower low - this is unsustainable - as this is the RSI, not the price action, RSI can't go to 0, eventually the downward trend would be broken, meaning a bigger break out. If there's a downward break out and rejection from the top trendline, it's easy, just use risk management and set a tight stop.
Yes, trolling. Your entire contribution to the thread has been condescending concern trolling, with sarcastic quoting in quotation marks.
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Are they trendlines on the relative strength of the market? It shows the RSI as 56.73, which is fairly neutral. The RSI won’t say much until it gets above 70ish or below 30ish.kentaddick said:
BTC daily RSI looks like its going to break out of a 6 month long trend soon. Big move incoming.I’m just not sure RSI trendlines add anything0 -
Is that forecast (which way incidentally?) really based on those two blue lines (one of which is a straight line between two points - who would have thought it?)?kentaddick said:
No answer to what?Dave Rudd said:
So, no answer then?kentaddick said:
https://www.investopedia.com/articles/trading/06/trendlines.aspDave Rudd said:
Is that forecast (which way incidentally?) really based on those two blue lines (one of which is a straight line between two points - who would have thought it?)?kentaddick said:
BTC daily RSI looks like its going to break out of a 6 month long trend soon. Big move incoming.
And I'd hope that 'technical analysis' would be a bit more sophisticated than the diagram shows.
Umpire's call, I reckon.
"I'm not trolling" - @Dave Rudd
You do realise, don't you, that when there is an apparent downward trend, there are only three possibilities next?
1) The downward trends continues
2) The downward trend levels off
3) There is an upturn in the downward trend
Nice 'technical analysis' to sort out that minefield.
'Trolling'? I'm not sure that we need that. It's far too easy using science.
Yes, a downward trend, which is then getting squeezed by higher lows - what happens then? Sure, it could mean a big downward break out, but it could also mean a big upward break out. If it was to break downward to a lower low - this is unsustainable - as this is the RSI, not the price action, RSI can't go to 0, eventually the downward trend would be broken, meaning a bigger break out. If there's a downward break out and rejection from the top trendline, it's easy, just use risk management and set a tight stop.
Yes, trolling. Your entire contribution to the thread has been condescending concern trolling, with sarcastic quoting in quotation marks.
Try to keep up.
And what you call 'trolling' others might call 'counter-argument'.
May I respectfully suggest that you seem to have a problem with 'interpretation'.
You should work on that. It might serve you well in the crypto-market.
I'll leave it there, as I clearly upset you.0
