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Cryptos

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  • Rothko
    Rothko Posts: 18,798
    kentaddick said:
    Rothko said:
    kentaddick said:
    fyi i've mentioned this on savings and investments, but fluid.ch app is live, you can create a uk bank account and get interest rates up to 4%. The interest comes from distributing trading fees from their swap function. Basically a bank account with the ability to on ramp into crypto. 
    Do they have an e-money license in the UK? 
    Their banking partner is currencycloud (revolut's banking partner as well), if that's what you're asking?
    Yeah, you need a banking partner as an E Money license holder, which they are, had a look on the FCA website. 

    Just a bit itchy about these things, after seeing mates get royally fucked with celsius 
  • kentaddick
    kentaddick Posts: 18,729
    Rothko said:
    kentaddick said:
    Rothko said:
    kentaddick said:
    fyi i've mentioned this on savings and investments, but fluid.ch app is live, you can create a uk bank account and get interest rates up to 4%. The interest comes from distributing trading fees from their swap function. Basically a bank account with the ability to on ramp into crypto. 
    Do they have an e-money license in the UK? 
    Their banking partner is currencycloud (revolut's banking partner as well), if that's what you're asking?
    Yeah, you need a banking partner as an E Money license holder, which they are, had a look on the FCA website. 

    Just a bit itchy about these things, after seeing mates get royally fucked with celsius 
    fair enough! But fluid doesn't use fractional reserve - every dollar/pound/euro in your account is in your account, they don't take it and re-invest it somewhere else. They're also insured against fraud/theft, so even if currencycloud and/or fluid goes bust, you'll still be able to recover 100% of your funds.
  • kentaddick
    kentaddick Posts: 18,729
    edited July 2022
    if you bought the last three or four weeks, congrats, think we're on our way to $35k in the next few weeks/months before nuking again near the end of the year.
  • LonelyNorthernAddick
    LonelyNorthernAddick Posts: 2,421
    kentaddick said:
    if you bought the last three or four weeks, congrats, think we're on our way to $35k in the next few weeks/months before nuking again near the end of the year.
    So frustrating - I've had a very expensive last month or two so had no expendable to drop into it, I get a tax rebate from HMRC and it bounces up immediately before it hits the bank for me be able to use the money!
  • kentaddick
    kentaddick Posts: 18,729
    LonelyNorthernAddick said:
    kentaddick said:
    if you bought the last three or four weeks, congrats, think we're on our way to $35k in the next few weeks/months before nuking again near the end of the year.
    So frustrating - I've had a very expensive last month or two so had no expendable to drop into it, I get a tax rebate from HMRC and it bounces up immediately before it hits the bank for me be able to use the money!
    Still time imo. Just popped out of the range and looking like another move up. Will probably get another big dip around 27k. 
  • kentaddick
    kentaddick Posts: 18,729
    Dipped my hand into NFT’s - just bought the etihad NFT yesterday that’s launched, they’re having transaction problems (doing the launch via web2 rather than web3) but they’re saying 40% of the supply has now been bought and they failed so many transactions it would’ve completely sold out. The NFT gives you silver membership and other future real world benefits. Thought it seemed a good start to buy from a reputable company. 
  • Numbers
    Numbers Posts: 834
    As this thread is so long and I can’t spend months going through it, looking for views and advice about Bit Index Prime. Has anyone registered and what do people think about it?

  • shine166
    shine166 Posts: 13,914
    edited July 2022
    I purchased a Otherside plot just before the crash lol. The project is by Yuga labs (bayc etc) so you'd like to think itl ride the wave out. 
  • kentaddick
    kentaddick Posts: 18,729
    Numbers said:
    As this thread is so long and I can’t spend months going through it, looking for views and advice about Bit Index Prime. Has anyone registered and what do people think about it?

    I don't trust anything that claims to use bots etc for trading to make profits, could too easily be a ponzi scheme. If it's that profitable, the founders wouldn't open it up for everyone - they'd just make boatloads of money themselves. I tried getting into arb bot projects during the bull run, but literally every single one was/is a scam.

    Nice pump overnight, waiting for my short order to be filled for a scalp. But think we're on our way to a bear market rally. 
  • kentaddick
    kentaddick Posts: 18,729
    a good step imo, crypto doesn't really fall into any tax category (as the differences between assets are so vast) and need their own laws.

    https://www.bloomberg.com/news/articles/2022-07-27/crypto-should-get-its-own-laws-to-aid-ownership-claims-uk-says
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  • kentaddick
    kentaddick Posts: 18,729
    edited July 2022
    kentaddick said:
    Numbers said:
    As this thread is so long and I can’t spend months going through it, looking for views and advice about Bit Index Prime. Has anyone registered and what do people think about it?

    I don't trust anything that claims to use bots etc for trading to make profits, could too easily be a ponzi scheme. If it's that profitable, the founders wouldn't open it up for everyone - they'd just make boatloads of money themselves. I tried getting into arb bot projects during the bull run, but literally every single one was/is a scam.

    Nice pump overnight, waiting for my short order to be filled for a scalp. But think we're on our way to a bear market rally. 
    Short not filled, oh well. Waiting for $22000 to go long.

    edit: looks like a whale had the same plan as me, short filled :D 
  • Covered End
    Covered End Posts: 51,981
    I hope no one on here fell for this one.
    https://www.theguardian.com/technology/2022/jul/01/fbi-offers-100000-reward-for-help-finding-onecoin-cryptoqueen-ruja-ignatova
  • shine166
    shine166 Posts: 13,914
    These have been spotted on our shorts, I've joined the discord and apparently there will be some perks for cafc fans soon

    https://discord.gg/A937QWCr
  • kentaddick
    kentaddick Posts: 18,729
    - Big announcement and reveal *FOOTBALL EMOJI*

    on their q3 roadmap...
  • shine166
    shine166 Posts: 13,914

  • Covered End
    Covered End Posts: 51,981
    Cryptocurrency: Has the Bubble Burst C4 10 pm tonight (Tuesday 9th August). 
  • FishCostaFortune
    FishCostaFortune Posts: 10,773
    Covered End said:
    Cryptocurrency: Has the Bubble Burst C4 10 pm tonight (Tuesday 9th August). 
    My QNT bag is up 52% in a month so at the moment I’m super positive about Crypto and have decided it’s the best thing ever. 
  • kentaddick
    kentaddick Posts: 18,729
    Covered End said:
    Cryptocurrency: Has the Bubble Burst C4 10 pm tonight (Tuesday 9th August). 
    that's good that they've found something that can be re-run in 4-5 years time after the next bull cycle is over.
  • Covered End
    Covered End Posts: 51,981
    It's C4, it'll likely be a waste of time, but I thought I'd post in case anyone was interested.
  • Rob62
    Rob62 Posts: 1,200
    edited August 2022
    Rob62 said:
    PolzeathNick said:
    Just a thought...if I was a criminal/money launderer/terrorist etc....  I probably wouldn't use a completely immutable transparent traceable network to move my assets around
    True of BTC, but not of things like Tornado Cash and Monero. Systems like those do pose a threat in the eyes of govs/regulators, and they're not just going to sit by and roll over. The unique issue they face is what can they actually do? Tornado cash is code, it's a smart contract on Ethereum that has no admins. The people who wrote the code don't have the power to change it or take it down. As long as one person is hosting it somewhere it will always be live.

    We are already at the stage where anyone can have a completely private, cryptographically secure account to hide their money, without the risk of a panama paper paper style whistleblower. As more and more people realise that these ZK proof secured systems are 100% safe, the more money that will flow into them. For govs that's pretty terrifying.
    Took another year, but as predicted, they didn't just sit by. The US government declared Tornado Cash transactions illegal a few days ago, the USDC in the contracts were frozen, and the original Tornado Cash developer was arrested in Holland today...
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  • kentaddick
    kentaddick Posts: 18,729
    Eth merge all but confirmed for 15th september - equivalent to a 3x halving. If you're not buying up eth atm, what are you even doing?
  • wwaddick
    wwaddick Posts: 121
    I have just started work at a crypto firm, after many years in the investment banking world. It’s interesting to say the least. It’s not exactly the Wild West but I think it’s fair to say that crypto markets have been operating without significant and fundamental controls in place but are now waking up. So far, regulatory bullets have been dodged in the UK but once the FCA get their act together, it could become a bit tasty. I spoke with one of the traders to try to understand the fundamentals behind price movements in crypto, he said mainly just demand and supply. From an investment perspective that’s the bit that would concern me most. I used to trade for a living and not having good fundamentals to base trading decisions on seems alien to me. I’m only a few weeks in as a crypto person and learning more by the day. I suspect these markets have got a long way to go before they mature and provide solid and sustainable areas for investment but it’s interesting to see the action from the inside.

  • kentaddick
    kentaddick Posts: 18,729
    wwaddick said:
    I have just started work at a crypto firm, after many years in the investment banking world. It’s interesting to say the least. It’s not exactly the Wild West but I think it’s fair to say that crypto markets have been operating without significant and fundamental controls in place but are now waking up. So far, regulatory bullets have been dodged in the UK but once the FCA get their act together, it could become a bit tasty. I spoke with one of the traders to try to understand the fundamentals behind price movements in crypto, he said mainly just demand and supply. From an investment perspective that’s the bit that would concern me most. I used to trade for a living and not having good fundamentals to base trading decisions on seems alien to me. I’m only a few weeks in as a crypto person and learning more by the day. I suspect these markets have got a long way to go before they mature and provide solid and sustainable areas for investment but it’s interesting to see the action from the inside.

    What crypto firm have you started working for, @w@wwaddick? Don’t need to say in what capacity if you don’t want to dox yourself 
  • wwaddick
    wwaddick Posts: 121

    kentaddick said:
    wwaddick said:
    I have just started work at a crypto firm, after many years in the investment banking world. It’s interesting to say the least. It’s not exactly the Wild West but I think it’s fair to say that crypto markets have been operating without significant and fundamental controls in place but are now waking up. So far, regulatory bullets have been dodged in the UK but once the FCA get their act together, it could become a bit tasty. I spoke with one of the traders to try to understand the fundamentals behind price movements in crypto, he said mainly just demand and supply. From an investment perspective that’s the bit that would concern me most. I used to trade for a living and not having good fundamentals to base trading decisions on seems alien to me. I’m only a few weeks in as a crypto person and learning more by the day. I suspect these markets have got a long way to go before they mature and provide solid and sustainable areas for investment but it’s interesting to see the action from the inside.

    What crypto firm have you started working for, @w@wwaddick? Don’t need to say in what capacity if you don’t want to dox yourself 
    Happy to say the capacity - surveillance and monitoring - but would prefer to keep schtum on the firm.
  • cabbles
    cabbles Posts: 15,254
    Dogecoin looks a better bet than the pound right now 
  • kentaddick
    kentaddick Posts: 18,729
    IMO this is a great place to buy and start accumulating. 
  • FishCostaFortune
    FishCostaFortune Posts: 10,773

    Covered End said:
    Cryptocurrency: Has the Bubble Burst C4 10 pm tonight (Tuesday 9th August). 
    My QNT bag is up 52% in a month so at the moment I’m super positive about Crypto and have decided it’s the best thing ever. 
    Me changing my ZIL into QNT is still looking like a rare good move in my poor crypto career so far.
  • cabbles
    cabbles Posts: 15,254
    kentaddick said:
    IMO this is a great place to buy and start accumulating. 
    Crypto or the pound ;-)
  • kentaddick
    kentaddick Posts: 18,729
    cabbles said:
    kentaddick said:
    IMO this is a great place to buy and start accumulating. 
    Crypto or the pound ;-)
    crypto... wouldn't want to fx trade into GBP just yet.
  • kentaddick
    kentaddick Posts: 18,729
    Like an episode of succession - Binance are to buy ftx - the last 48 hours have been pretty insane in crypto. Two of the largest exchanges went to war with each other. Binance started dumping their bag of FTT - FTX’s token on the open market, dumping the price. Seems like FTX were using their tokens as leverage to buy/short other tokens, meaning that they suddenly had a giant black hole on their balance sheet. To stop going insolvent, ftx were forced to ask Binance to step in and help them. 

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