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BITCOIN
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Grenage said:Regardless of anyone's take on cryptocurrency, Elon is scum.No, he's just a bog-standard billionaire securities fraudster. If you buy crypto tokens because a guy with form for pumping the price of his own company by tweeting about imaginary private equity bids said you should, you deserve what you get.Like the guy said, "Ever heard of PayPal? I know more than you realise about how money works." We can safely assume what Musk knows about money includes 'punters' money in == punters' money out'.0
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snooloui said:China has effectively banned financial institutions from transacting in cryptocurrencies. I am sure other Governments will follow suit in time, especially as many will seek to establish their own digital currencies. I don't knock anyone who has made a handsome profit so far, but I wouldn't want to be the one left holding the bag.Link on this here:What do crypto fans say about this? They were saying last week it will never happen.
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I'm not sure how they predict that kind of thing. I bet they are feeling a little uneasy at the moment and not that confident.HansOndabush said:snooloui said:China has effectively banned financial institutions from transacting in cryptocurrencies. I am sure other Governments will follow suit in time, especially as many will seek to establish their own digital currencies. I don't knock anyone who has made a handsome profit so far, but I wouldn't want to be the one left holding the bag.Link on this here:What do crypto fans say about this? They were saying last week it will never happen.
Save £12k in 2019 #154 - £14,826.60/£12kSave £12k in 2020 #128 - £4,155.62/£10k0 -
Banning crypto is a bullmarket tradition in China. Not like it's the first time for these headlines to be plastered all over the place.2
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Down another 10%.
That's another $80 billion of wealth gone in a day. Must impact stock markets.0 -
Do you mean a rotation of assets into stocks or that the drop in crypto will cause stock markets to follow suit?ZingPowZing said:Down another 10%.
That's another $80 billion of wealth gone in a day. Must impact stock markets.
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China has 'reiterated' its bans from 2013 and 2017, nothing has actually changed since 2017.HansOndabush said:snooloui said:China has effectively banned financial institutions from transacting in cryptocurrencies. I am sure other Governments will follow suit in time, especially as many will seek to establish their own digital currencies. I don't knock anyone who has made a handsome profit so far, but I wouldn't want to be the one left holding the bag.Link on this here:What do crypto fans say about this? They were saying last week it will never happen.
Crypto so far has followed a roughly 4 year cycle, 2017/2018 being the last real bear market so many fear another one coming soon 2021/2022 so non-news like this causes an irrational fear response.1 -
Some would say it has got to where it is because of an irrational manic response. Or maybe FOMO.Atlas234 said:
China has 'reiterated' its bans from 2013 and 2017, nothing has actually changed since 2017.Crypto so far has followed a roughly 4 year cycle, 2017/2018 being the last real bear market so many fear another one coming soon 2021/2022 so non-news like this causes an irrational fear response.1 -
Shows little people understand about the Chinese Communists Party mindset. A very different form of capitalism to the West.RichTips said:Banning crypto is a bullmarket tradition in China. Not like it's the first time for these headlines to be plastered all over the place.1 -
It must have a negative impact on stock prices imo.HansOndabush said:
Do you mean a rotation of assets into stocks or that the drop in crypto will cause stock markets to follow suit?ZingPowZing said:Down another 10%.
That's another $80 billion of wealth gone in a day. Must impact stock markets.1
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