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buksida
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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Tue Jan 09, 2018 9:15 am

Not sure what any of that has to do with cryptocurrencies so ...

Bitcoin speculation allowed for Thais

Phillip Securities Thailand has allowed Thai investors to speculate on bitcoin via an international global derivatives trading service, while Thailand's market regulators are in consensus that the move is legitimate.

Such service offers bitcoin futures trading on the Chicago Board Options Exchange (CBOE) and the Chicago Mercantile Exchange (CME).

Bitcoin futures kicked off in two of the world's major derivatives exchanges in mid-December.

Managing director Low See Kiong said some Thai investors are interested in bitcoin and able to accept the investment risks inherent in futures.

More: https://www.bangkokpost.com/business/fi ... -for-thais

For me this is pleasantly surprising since the dictator has clamped down on pretty much everything else in Thailand. Crypto is regulated or banned in South Korea, Indonesia, China, Russia and Vietnam so Thailand for once is a beacon of light.
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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Fri Jan 19, 2018 12:41 pm

January market crash was to be expected ...
https://www.newsbtc.com/2018/01/18/can- ... pto-crash/


Why regulation should not mean prohibition ...
http://bitcoinist.com/crypto-regulation ... ohibition/


South Korean crypto traders go batshit crazy ...
http://www.businessinsider.com/cryptocu ... th-2018-1/
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Re: Bitcoin mining and cryptocurrency thread

Post by hhinner » Fri Jan 19, 2018 3:20 pm

Haven't various governments warned that crypto is a bubble waiting to burst and investors will be hurt? And doesn't it seem that various governments are trying make the prophecy come true?

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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Fri Jan 19, 2018 3:25 pm

Governments hate it because they cant control or tax it. Many such as China, Indonesia and Vietnam are trying to completely ban it. Others such as Japan, Singapore and believe it or not Thailand are still open to crypto.

The bubble definition is a strange one, yes markets fell by 40% in three weeks but looking at a three month chart they're still up 2500%. They have now seemed to rebound a little so has the bubble really burst?
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Re: Bitcoin mining and cryptocurrency thread

Post by Bluesky » Fri Jan 19, 2018 4:18 pm

buksida wrote:
Fri Jan 19, 2018 3:25 pm
They have now seemed to rebound a little so has the bubble really burst?
You may very well be looking at what is commonly referred to as a "dead cat bounce" What you are possibly seeing is short sellers locking in some profit and coming out of the market (buying to cover short positions) Probably worth thinking about very carefully. There is nothing worse than trying to catch a falling piano should the bears continue their push.

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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Fri Jan 19, 2018 5:39 pm

Its possible - we'll find out in a couple of days, if it falls further its shopping time again!
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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Sat Jan 20, 2018 2:19 pm

Still no collapse, markets holding steady.
https://www.livecoinwatch.com/


Here is an interesting comparison of crypto millennials today to the yuppies of the 80s.
https://thenextweb.com/hardfork/2018/01 ... the-1980s/
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Re: Bitcoin mining and cryptocurrency thread

Post by johnjar » Sat Jan 20, 2018 10:47 pm

buksida wrote:
Fri Jan 19, 2018 5:39 pm
Its possible - we'll find out in a couple of days, if it falls further its shopping time again!
If you are buying bitcoin at these prices when the main huge economies are banning the trade , good luck! I,de rather sing and whistle while sitting on a thistle! You're a better man than I am Gunga Din :)

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Re: Bitcoin mining and cryptocurrency thread

Post by STEVE G » Sun Jan 21, 2018 9:06 am

buksida wrote:
Sat Jan 20, 2018 2:19 pm

Here is an interesting comparison of crypto millennials today to the yuppies of the 80s.
https://thenextweb.com/hardfork/2018/01 ... the-1980s/
Talk of Bitcoin millionaires ignores the fact that since the currency hasn't actually generated any revenue, every dollar taken out has been put in by someone else plus the cost of electricity to mine it. In other words, the only group that has made a net profit out of Bitcoin are electricity generating companies!

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Re: Bitcoin mining and cryptocurrency thread

Post by buksida » Sun Jan 21, 2018 9:10 am

johnjar wrote:
Sat Jan 20, 2018 10:47 pm
If you are buying bitcoin at these prices when the main huge economies are banning the trade , good luck! I,de rather sing and whistle while sitting on a thistle! You're a better man than I am Gunga Din :)
One main economy has banned it - and the price went up, go figure.
STEVE G wrote:
Sun Jan 21, 2018 9:06 am
Talk of Bitcoin millionaires ignores the fact that since the currency hasn't actually generated any revenue, every dollar taken out has been put in by someone else plus the cost of electricity to mine it. In other words, the only group that has made a net profit out of Bitcoin are electricity generating companies!
The millionaires are the ones that saw the potential when BTC was $100 and bought a bucket load. They then sold it when demand was through the roof and made a bucket load - supply and demand generates the price/revenue. Technically they are dollar millionaires, not bitcoin millionaires. Ether way they've got filthy rich out of it when everyone else is hoping that their governments and banks are going to look after them, good luck with that.

Edit: just re-read this:
STEVE G wrote:
Sun Jan 21, 2018 9:06 am
the only group that has made a net profit out of Bitcoin are electricity generating companies!
What about all the computer hardware companies supplying the mining gear, Nvidia stock went through the roof as they ran out of graphics cards. Mining pools and factories in Asia, crypto exchanges, companies such as Ledger offering hardware wallets, new crypto media outlets and associated advertising revenue, hundreds of new startups innovating solutions on the blockchain, thousands of new jobs created. Crypto is an entire new embryonic industry, just as the internet was in the early-1990s, it is not just about bitcoin.
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