Does Anyone Here Trade Cryptocurrencies... Or Is that a dirty word?

This is a discussion on Does Anyone Here Trade Cryptocurrencies... Or Is that a dirty word? within the Cryptocurrencies forums, part of the Markets category; I'll wait for the banks to leap into it then I will follow. I have a personal rule: always follow ...

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Old Jul 29, 2017, 11:31pm   #9
Joined Apr 2016
I'll wait for the banks to leap into it then I will follow. I have a personal rule: always follow the merchants. They are never wrong.

Now, if I try to deposit any cryptocurrency into my bank account, they will probably call the police and have me arrested for bank fraud. That's too much work.
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Old Jul 30, 2017, 3:41am   #10
 
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Originally Posted by EnlightenedJoe View Post
I'll wait for the banks to leap into it then I will follow. I have a personal rule: always follow the merchants. They are never wrong.

Now, if I try to deposit any cryptocurrency into my bank account, they will probably call the police and have me arrested for bank fraud. That's too much work.
Depends on where you live and how much you've pulled...

Less than 12K per annum is gratis para CG tax...

Sit on earnings for a year and, well, depends on your nationality

Grey area stuff, like the tech, like the whole thing, but kinda fun too no?
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Old Aug 2, 2017, 12:30pm   #11
 
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Once I tried trading cryptocurrencies, but it didn't result in anything good. ..
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Old Nov 12, 2017, 5:07pm   #12
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Which exchange you tried trading crypto..! I guess many forex brokers like hot forex had started accepting bitcoins as well as it is now a commodity paired against USD and EUR too.
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Old Nov 12, 2017, 8:26pm   #13
FXX
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To trade an instrument a market is required. The crypto currency market isn't really a market its just a bunch of people buying something for no other reason than other parties buying it. There is no purpose for the market like there is in futures, equities, bonds, or currencies. For this reason, trading crypto currencies is a fools game and has similarities with pyramid schemes. The appreciation in bitcon is nothing short of a greed bubble fueld by criminal activity. It won't take much for it to fall apart and will probably will lose most of its value as soon as regulation comes in to prevent criminal activity. While I don't have any stats support my opinion of the value mostly being driven by criminal activity, it is clear that its use in the dark web and ransomeware provides evidence to support it. There is no way crypto currencies can be traded using any means that we traders use. All the fundamental drivers are absent and all movement is driven by greed.
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Thanks! The following members like this post: Quantt
Old Nov 17, 2017, 1:18am   #14
 
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Originally Posted by FXX View Post
To trade an instrument a market is required. The crypto currency market isn't really a market its just a bunch of people buying something for no other reason than other parties buying it. There is no purpose for the market like there is in futures, equities, bonds, or currencies. For this reason, trading crypto currencies is a fools game and has similarities with pyramid schemes. The appreciation in bitcon is nothing short of a greed bubble fueld by criminal activity. It won't take much for it to fall apart and will probably will lose most of its value as soon as regulation comes in to prevent criminal activity. While I don't have any stats support my opinion of the value mostly being driven by criminal activity, it is clear that its use in the dark web and ransomeware provides evidence to support it. There is no way crypto currencies can be traded using any means that we traders use. All the fundamental drivers are absent and all movement is driven by greed.
Damn, so much bull**** makes me angry, but... it's your deal friends, I have some cryptos with 2000% gain. My greed is proportional to your stupidity, so I'm holding just like I used to hold cable and gold in others days.
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Old Nov 17, 2017, 2:40am   #15
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Damn, so much bull**** makes me angry, but... it's your deal friends, I have some cryptos with 2000% gain. My greed is proportional to your stupidity, so I'm holding just like I used to hold cable and gold in others days.
My stupidity will be paying me long after crypto currencies are gone. When a wobble can move price $2000 in a couple of days, imagine what its going to do when there is a proper event. Then the only thing proportional to my amusement will be your stupidity for getting involved in the first place.
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Old Nov 17, 2017, 12:06pm   #16
FXX
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so much for the bull****

https://www.armstrongeconomics.com/w...lion-vanishes/


Thanks to a string of screw-ups and bugs, an unsuspecting developer recently took possession of an estimated $US390 million worth of the Ethereum cryptocurrency by accident. In an attempt to give back the money, however, the guy ended up locking up the funds permanently. Essentially, the money has just evaporated.

It turns out that hackers started the trouble getting into the cryptocurrency wallet service stealing about $42 million. To then patch the vulnerability to their block-chain technology, they introduced a bug that affected multi-signature wallets. These are wallets which require several people to enter keys before funds get transferred. This was intended to be top security for Ether which is the second largest cryptocurrency. Somehow, a guy called “devops199” triggered the bug and took control of all multi-sig wallets unintendedly. Then devops199 attempted to reverse the process to give back the money which then triggered they bug. The result was the destruction all of the funds. The bug caused a chain reaction of events that locked all multi-signature wallets that cannot now be unlocked
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