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Etoro have said that due to demand, they have a backlog etc
-
Contact the PP Team
Cryptocurrency trading strategies and updates
- Thread starter Cricketismylife
- Start date
Etoro have said that due to demand, they have a backlog etc
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https://www.theguardian.com/uk-news...-release-hostage-after-1m-bitcoin-ransom-paid
Kidnappers in Ukraine have released an employee at a UK-registered cryptocurrency exchange after getting more than $1m (£750,000) in bitcoin as a ransom, an adviser to the Ukrainian interior minister told Reuters on Friday.
Pavel Lerner, a leading analyst and blockchain expert, was seized by masked abductors on Boxing Day, according to a statement by his company, EXMO Finance, on its website.
“This is the first such case in Ukraine linked to bitcoin,” Anton Gerashchenko, an adviser to interior minister Arsen Avakov, said in a text message.
It was unclear who paid the ransom. Lerner’s work at EXMO did not involve access to the financial assets of its users, the company said, adding that the platform was operating normally.
“At the moment he is safe, and there was no physical harm inflicted on him,” the statement said. “Nevertheless, Pavel is currently in a state of major stress. Therefore, he will not provide any official comments in the coming days.”
News of the release came as bitcoin and other cryptocurrencies rebounded after two days of losses partly related to regulators toughening rules on digital currencies in an effort to curb excessive speculation. Many digital currencies surged in value this year.
Strana.ua, a local news website, had earlier reported that six gunmen wearing dark clothing and balaclavas had snatched Lerner and pushed him into a minibus with stolen number plates.
Kiev police have begun a criminal investigation after a man was kidnapped in the Obolon district, a police spokeswoman said by phone without revealing the name of the victim.
“We would like to note that the story of Pavel’s abduction has overgrown with rumours that might tamper with the official investigation,” EXMO said in its statement.
Separately, the company – which has 900,000 users according to its website – announced on Thursday that it had been hit by a denial-of-service attack.
Kidnappers in Ukraine have released an employee at a UK-registered cryptocurrency exchange after getting more than $1m (£750,000) in bitcoin as a ransom, an adviser to the Ukrainian interior minister told Reuters on Friday.
Pavel Lerner, a leading analyst and blockchain expert, was seized by masked abductors on Boxing Day, according to a statement by his company, EXMO Finance, on its website.
“This is the first such case in Ukraine linked to bitcoin,” Anton Gerashchenko, an adviser to interior minister Arsen Avakov, said in a text message.
It was unclear who paid the ransom. Lerner’s work at EXMO did not involve access to the financial assets of its users, the company said, adding that the platform was operating normally.
“At the moment he is safe, and there was no physical harm inflicted on him,” the statement said. “Nevertheless, Pavel is currently in a state of major stress. Therefore, he will not provide any official comments in the coming days.”
News of the release came as bitcoin and other cryptocurrencies rebounded after two days of losses partly related to regulators toughening rules on digital currencies in an effort to curb excessive speculation. Many digital currencies surged in value this year.
Strana.ua, a local news website, had earlier reported that six gunmen wearing dark clothing and balaclavas had snatched Lerner and pushed him into a minibus with stolen number plates.
Kiev police have begun a criminal investigation after a man was kidnapped in the Obolon district, a police spokeswoman said by phone without revealing the name of the victim.
“We would like to note that the story of Pavel’s abduction has overgrown with rumours that might tamper with the official investigation,” EXMO said in its statement.
Separately, the company – which has 900,000 users according to its website – announced on Thursday that it had been hit by a denial-of-service attack.
DeadlyVenom
Senior Test Player
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[MENTION=134018]Taarabt[/MENTION] Do the reverse convert it to btc and move back to coinbase.
Also I don't think etoro allows you to purchase coins you basically speculate and place a bet on price movement.
I'd avoid that.
Also I don't think etoro allows you to purchase coins you basically speculate and place a bet on price movement.
I'd avoid that.
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Ripple - the new bitcoin?
Abdul
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Have you bought any?
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Nah just watching from afar...
DonJee
Tape Ball Captain
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You're missing out! I can assure you!
CricketCartoons
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A beverage company had its stocks jump over 400% just by renaming itself to Long Blockchain from Long Island Iced Tea Company.
Asif khan
First Class Player
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They didn't ban trading, they are planning on regulating it. BTC is a good time to buy but it's still bearish and could drop further. if it wasn't for the Korean FUD BCH would be near 0.3. The volume it was generating, backed by the Chinese was immense.
R3verse Swing
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Crypto Currencies are in a massive bubble; referred to as a Melt-up, or better known as Euphoria phase.
Here's the problem : While the crypto coins are scarce (which is how the Crypto currency derives it's value), the number of currencies can be created at whim. This means investment will transfer from one ICO to another. This is why Bitcoin hit near $20000, now trades at $14432 because investors have cashed out and are investing in other ICOs, such as as Ripple and Etherum. Dot.com boom and bust anyone?
Plus, there is no intrinsic value. Zero. CC's are just code, which can be hacked like any other code. We've heard of wallets closing down and emptied out. Hmmm. Zero. So ICOs are indeed speculation.
Enter at your own peril!
Here's the problem : While the crypto coins are scarce (which is how the Crypto currency derives it's value), the number of currencies can be created at whim. This means investment will transfer from one ICO to another. This is why Bitcoin hit near $20000, now trades at $14432 because investors have cashed out and are investing in other ICOs, such as as Ripple and Etherum. Dot.com boom and bust anyone?
Plus, there is no intrinsic value. Zero. CC's are just code, which can be hacked like any other code. We've heard of wallets closing down and emptied out. Hmmm. Zero. So ICOs are indeed speculation.
Enter at your own peril!
PetroDollars
First Class Captain
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- Feb 29, 2012
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Was Bitcoin created by a rogue artificial intelligence to take over the world?
https://steemit.com/bitcoin/@facelikethesun/was-bitcoin-made-by-an-a-i
http://globalrealnews.com/bitcoin-created-rogue-artificial-intelligence-take-world/
PetroDollars
First Class Captain
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Interesting and scary theories here
Abdullah719
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Bitcoin sinks below $10,000 and is now 52% off all-time high as cryptocurrency sell-off deepens
Bitcoin fell below $10,000 for the first time since November, as a sell-off in cryptocurrencies continued for a second day.
The world's largest cryptocurrency was trading at $9,199.59 at about 10:34 a.m. ET on Wednesday, and was down almost 19 percent in the last 24 hours, according to CoinDesk data. CoinDesk tracks prices from cryptocurrency exchanges Bitstamp, Coinbase, itBit and Bitfinex.
The last time bitcoin fell below the $10,000 mark was November 30. The red-hot digital asset soared to a record high of $19,343 last month, but has since been on a gradual decline. At its current price, it is now down 52 percent from that all-time high.
More than $30 billion was shaved off the cryptocurrency's market value in the last 24 hours.
Meanwhile, ethereum and ripple — the second and third-biggest digital assets respectively — continued to move lower. According to CoinMarketCap data, ethereum was trading almost 29 percent lower at $791.97 a coin. Ripple on the other hand fell 34 percent to about 91 cents.
Cryptocurrencies appeared to sell off shortly after South Korea's Finance Minister, Kim Dong-yeon, said the country was still mulling a shutdown of crypto exchanges. Initial reports of South Korea — one of the biggest cryptocurrency markets in the world — moving to clamp down on virtual currency trading last week sent the price of bitcoin and a number of other major digital assets down sharply.
"The action we're seeing may seem dramatic but is really quite normal for this market," Mati Greenspan, senior market analyst at eToro, told CNBC via email. "All in all, this drop has brought us back to the prices that were traded about a month ago for most coins."
Greenspan said Tuesday that South Korean and Japanese investors often pay a premium of "20 percent or more per coin," but on Wednesday said they appeared to be falling.
"The premiums that were being paid by Japanese and South Korean crypto traders is also coming down, so that's a good sign as well," he said.
'No other justification than fear'
China was also reportedly looking to deepen its crackdown on the cryptocurrency market this week. On Monday, Bloomberg reported that authorities in China were planning to block domestic access to Chinese and offshore cryptocurrency platforms that allow centralized trading. Regulators will also target people and companies that provide market-making, settlement and clearing services for centralized trading, the publication said, citing unnamed sources.
And on Tuesday, a Chinese central bank official reportedly said that authorities should ban the centralized trading of digital currencies, adding weight to concerns of further suppression of the country's cryptocurrency market.
Charles Hayter, chief executive of CryptoCompare, said that many expected the cryptocurrency market to decline.
"The market was very overheated and had significantly dislocated from trend. A large percentage of investors were expecting this correction and reversion to mean."
Hayter said that panic was "leading the herd to sell with no other justification than fear," but added that it was "difficult to say" where the market would be headed next.
Bitcoin and other cryptocurrencies are extremely volatile assets. Many experts believe that the introduction of futures contracts for bitcoin from the likes of CME and Cboe would tame the digital currency somewhat and bring in more institutional money.
https://www.cnbc.com/2018/01/17/cryptocurrency-sell-off-continues-as-bitcoin-ethereum-sink.html
Bitcoin fell below $10,000 for the first time since November, as a sell-off in cryptocurrencies continued for a second day.
The world's largest cryptocurrency was trading at $9,199.59 at about 10:34 a.m. ET on Wednesday, and was down almost 19 percent in the last 24 hours, according to CoinDesk data. CoinDesk tracks prices from cryptocurrency exchanges Bitstamp, Coinbase, itBit and Bitfinex.
The last time bitcoin fell below the $10,000 mark was November 30. The red-hot digital asset soared to a record high of $19,343 last month, but has since been on a gradual decline. At its current price, it is now down 52 percent from that all-time high.
More than $30 billion was shaved off the cryptocurrency's market value in the last 24 hours.
Meanwhile, ethereum and ripple — the second and third-biggest digital assets respectively — continued to move lower. According to CoinMarketCap data, ethereum was trading almost 29 percent lower at $791.97 a coin. Ripple on the other hand fell 34 percent to about 91 cents.
Cryptocurrencies appeared to sell off shortly after South Korea's Finance Minister, Kim Dong-yeon, said the country was still mulling a shutdown of crypto exchanges. Initial reports of South Korea — one of the biggest cryptocurrency markets in the world — moving to clamp down on virtual currency trading last week sent the price of bitcoin and a number of other major digital assets down sharply.
"The action we're seeing may seem dramatic but is really quite normal for this market," Mati Greenspan, senior market analyst at eToro, told CNBC via email. "All in all, this drop has brought us back to the prices that were traded about a month ago for most coins."
Greenspan said Tuesday that South Korean and Japanese investors often pay a premium of "20 percent or more per coin," but on Wednesday said they appeared to be falling.
"The premiums that were being paid by Japanese and South Korean crypto traders is also coming down, so that's a good sign as well," he said.
'No other justification than fear'
China was also reportedly looking to deepen its crackdown on the cryptocurrency market this week. On Monday, Bloomberg reported that authorities in China were planning to block domestic access to Chinese and offshore cryptocurrency platforms that allow centralized trading. Regulators will also target people and companies that provide market-making, settlement and clearing services for centralized trading, the publication said, citing unnamed sources.
And on Tuesday, a Chinese central bank official reportedly said that authorities should ban the centralized trading of digital currencies, adding weight to concerns of further suppression of the country's cryptocurrency market.
Charles Hayter, chief executive of CryptoCompare, said that many expected the cryptocurrency market to decline.
"The market was very overheated and had significantly dislocated from trend. A large percentage of investors were expecting this correction and reversion to mean."
Hayter said that panic was "leading the herd to sell with no other justification than fear," but added that it was "difficult to say" where the market would be headed next.
Bitcoin and other cryptocurrencies are extremely volatile assets. Many experts believe that the introduction of futures contracts for bitcoin from the likes of CME and Cboe would tame the digital currency somewhat and bring in more institutional money.
https://www.cnbc.com/2018/01/17/cryptocurrency-sell-off-continues-as-bitcoin-ethereum-sink.html
Syed1
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Bitcoin is dead and buried for the time being...
I think the big players, influencers and media bigwigs artificially hyped crypocurrency so that people will buy in haste and in fear of missing out.... this will rapidly raise the price of the currency and they will make millions. Once the hype died down Bitcoin and others have been in free fall. Just my 2 cents.
Feel sad for the people who actually took out mortgages/loans to buy bitcoins and now are in debt.
I think the big players, influencers and media bigwigs artificially hyped crypocurrency so that people will buy in haste and in fear of missing out.... this will rapidly raise the price of the currency and they will make millions. Once the hype died down Bitcoin and others have been in free fall. Just my 2 cents.
Feel sad for the people who actually took out mortgages/loans to buy bitcoins and now are in debt.
sensible-indian-fan
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I stopped feeling sad for idiots who invest with money they can't afford to lose.
Bitcoin has to rise after a while. It has to go to the top before crashing and bankrupting many.
corneredtiger85292
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i reckon its a good time to buy !
Gabbar Singh
Test Debutant
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Going back to the OP where it says ‘does anyone use bitcoin’?
It’s a fair question as bitcoin was created as a currency and payment method however now it seems to have become something to invest in, a storage of wealth, a sort of digital gold. This is the opposite it’s original idea.
Genuine question, anyone actually use these digital currencies to pay for goods or services?
It’s a fair question as bitcoin was created as a currency and payment method however now it seems to have become something to invest in, a storage of wealth, a sort of digital gold. This is the opposite it’s original idea.
Genuine question, anyone actually use these digital currencies to pay for goods or services?
Raf Pragmatic
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How many you want?
sensible-indian-fan
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Anyone watched this legendary video?
<iframe width="560" height="315" src="https://www.youtube.com/embed/1YCVZPBhrjQ" frameborder="0" allow="autoplay; encrypted-media" allowfullscreen></iframe>
)
<iframe width="560" height="315" src="https://www.youtube.com/embed/1YCVZPBhrjQ" frameborder="0" allow="autoplay; encrypted-media" allowfullscreen></iframe>
)
Sirris
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No, I don't.
and after given thought to it and talking with friends I don't think there is a big demand for a decentralized currency. However the blockchain technology the thing behind bitcoin is an innovation like none before and will survive. Blockchain based services will be huge one day.
Couch Cricketer
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I think one day blockchain technology will be used in a centralised currency issued by the state bank of a country Estonia I think is already looking into it as the surveillance and monitoring how every cent is moving or spent in the economy is something all government want no matter how privacy conscious they are.
The Winklevoss Twins Have Lost Nearly $1 Billion in the Bitcoin Meltdown
Think you’ve taken a bath in the Bitcoin’s recent plunge in value? Be glad you’re not Tyler and Cameron Winklevoss.
The twins, most famous for trying and failing to gain control of Facebook after alleging that it had been appropriated from them, have seen the value of their cryptocurrency holdings fall by $922 million in the past month.
With a wallet that holds an estimated 120,000 bitcoins, the Winklevosses were arguably more exposed than anyone to the severe market fluctuations the cryptocurrency has seen of late. But don’t shed too many tears for them. They’re still remarkably rich — and still bitcoin billionaires.
Four years ago, the two made an $11 million investment in bitcoin. To date, they have reportedly not sold a single one, sitting on them and watching them accrue value. It’s been a stunning thing to witness. When the Winklevosses used a portion of the $65 million they won in a lawsuit against Facebook (FB, +0.80%), the currency was trading at just $120. As of Thursday morning, bitcoin’s value was $11,854, according to CoinMarketCap. That puts the estimated value of their holdings at $1.4 billion.
The twins have bigger designs on Bitcoin than just collecting wealth in their holdings, though. Last year, they attempted to create an ETF for bitcoin, but fell short after the U.S. Securities and Exchange Commission rejected the application, citing the possibility of fraud. Had they been successful, it would have opened the door to institutional investing in the currency.
Source link:http://fortune.com/2018/01/18/winklevoss-twins-bitcoin-crash/
Think you’ve taken a bath in the Bitcoin’s recent plunge in value? Be glad you’re not Tyler and Cameron Winklevoss.
The twins, most famous for trying and failing to gain control of Facebook after alleging that it had been appropriated from them, have seen the value of their cryptocurrency holdings fall by $922 million in the past month.
With a wallet that holds an estimated 120,000 bitcoins, the Winklevosses were arguably more exposed than anyone to the severe market fluctuations the cryptocurrency has seen of late. But don’t shed too many tears for them. They’re still remarkably rich — and still bitcoin billionaires.
Four years ago, the two made an $11 million investment in bitcoin. To date, they have reportedly not sold a single one, sitting on them and watching them accrue value. It’s been a stunning thing to witness. When the Winklevosses used a portion of the $65 million they won in a lawsuit against Facebook (FB, +0.80%), the currency was trading at just $120. As of Thursday morning, bitcoin’s value was $11,854, according to CoinMarketCap. That puts the estimated value of their holdings at $1.4 billion.
The twins have bigger designs on Bitcoin than just collecting wealth in their holdings, though. Last year, they attempted to create an ETF for bitcoin, but fell short after the U.S. Securities and Exchange Commission rejected the application, citing the possibility of fraud. Had they been successful, it would have opened the door to institutional investing in the currency.
Source link:http://fortune.com/2018/01/18/winklevoss-twins-bitcoin-crash/
Abdullah719
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Turkish football club pays new signing in Bitcoin
A Turkish amateur league football club has transferred a player by paying him with Bitcoin, in what the club chairman said is the first signing of a player in cryptocurrency.
Harunustaspor chairman Haldun Sehit told Turkey's state-run Anadolu Agency late Tuesday that the club paid player Omer Faruk Kiroglu 2,000 Turkish liras worth of Bitcoin (0.0534 Bitcoin) in addition to 2,000 Turkish Lira ($540).
Sehit told Anadolu the club decided to sign Kiroglu with the cryptocurrency to make the team known “in Turkey and the world.” Sehit said: “God willing, Bitcoin will bring us the championship.”
The club competes in the first division of Sakarya's Amateur League.
Bitcoin, the world’s most popular virtual currency, allows people to buy goods and services and exchange money without involving banks, credit card issuers or other third parties.
It has a fuzzy history, having been used by hackers to demand ransom and for the purchase of illegal drugs online. But recently it’s become more popular with a different crowd: speculative investors.
https://www.dawn.com/news/1386432/turkish-football-club-pays-new-signing-in-bitcoin
A Turkish amateur league football club has transferred a player by paying him with Bitcoin, in what the club chairman said is the first signing of a player in cryptocurrency.
Harunustaspor chairman Haldun Sehit told Turkey's state-run Anadolu Agency late Tuesday that the club paid player Omer Faruk Kiroglu 2,000 Turkish liras worth of Bitcoin (0.0534 Bitcoin) in addition to 2,000 Turkish Lira ($540).
Sehit told Anadolu the club decided to sign Kiroglu with the cryptocurrency to make the team known “in Turkey and the world.” Sehit said: “God willing, Bitcoin will bring us the championship.”
The club competes in the first division of Sakarya's Amateur League.
Bitcoin, the world’s most popular virtual currency, allows people to buy goods and services and exchange money without involving banks, credit card issuers or other third parties.
It has a fuzzy history, having been used by hackers to demand ransom and for the purchase of illegal drugs online. But recently it’s become more popular with a different crowd: speculative investors.
https://www.dawn.com/news/1386432/turkish-football-club-pays-new-signing-in-bitcoin
in_cutter
Senior T20I Player
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Is it still worth investing in?
Gabbar Singh
Test Debutant
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It’s carnage on the cryptocurrency markets at the moment. No doubt all the shrewd ‘investors’ saw this coming and will now tell us that they sold just before the huge drops.
I’ve found the whole bitcoin and cryptocurrency phenomenon very interesting however, and perhaps I’m wrong, I get the feeling that a lot of time when we hear about people ‘investing’ in x, y, and z what they’re really doing is more gambling than investing (nothing wrong with that of course however perhaps we should all be a bit more honest to ourselves).
I’ve found the whole bitcoin and cryptocurrency phenomenon very interesting however, and perhaps I’m wrong, I get the feeling that a lot of time when we hear about people ‘investing’ in x, y, and z what they’re really doing is more gambling than investing (nothing wrong with that of course however perhaps we should all be a bit more honest to ourselves).
R3verse Swing
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It's bloodbath McGrath! yeeee haaaa!
CricketCartoons
Senior T20I Player
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Going to hold 4 bitcoins I have. Those who invested early 2017 are still in huge profit.
R3verse Swing
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I would sell. Simple reason being there is a difference between Bitcoin and Blockchain.
CricketCartoons
Senior T20I Player
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I have already recovered my money and also got a vacation, so can afford to hold this for long. Will see what happens in a year.
Asif khan
First Class Player
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- Aug 7, 2005
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I'm loving it...guys...buy the dips! We're in a bull trap so wait around 6.5k and then we go the moon haha.
R3verse Swing
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Since India vowed to eliminate the use of Bitcoin and other cryptos early Thursday, that means those who live in India are most likely selling all of their Bitcoin holdings.
The government of India on Thursday morning said: "The government does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate use of these cryptoassets"
The government of India on Thursday morning said: "The government does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate use of these cryptoassets"
kingusama92
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Understand the technology and the dips won't scare you.
Asif khan
First Class Player
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They are not banning cryptos...far from it.
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- Oct 2, 2004
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Rumors are good enough.
Asif khan
First Class Player
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Only for the ignorant.
R3verse Swing
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From the Financial Times :
https://www.ft.com/content/9fc05f8e-0720-11e8-9650-9c0ad2d7c5b5
(Article behind paywall)
If Bitcoin is not considered a legal tender, there is no use for it other than underground blackmarket/criminal use.
https://www.ft.com/content/9fc05f8e-0720-11e8-9650-9c0ad2d7c5b5
(Article behind paywall)
If Bitcoin is not considered a legal tender, there is no use for it other than underground blackmarket/criminal use.
R3verse Swing
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The issue is not the dips. The issue is that there are now more than 1000 crypto currencies, and new ones are being setup on a daily basis. This means money will outflow from one CC to another CC.
The trick is not to invest in the Cryptocurrencies, but the technology behind them such as Blockchain.
Asif khan
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Arun Jaitley had been saying the same for last couple of years that crypto currencies are not legal tender in India, which means it can't be used to buy any products but it doesnt mean that crypto is banned in India. No one in India uses crypto for anything other than investment purposes like Stock market.
R3verse Swing
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Bitcoin Ban Expands Across Credit Cards as Big U.S. Banks Recoil
https://www.bloomberg.com/news/arti...l-cryptocurrency-transactions-on-credit-cards
A growing number of big U.S. credit-card issuers are deciding they don’t want to finance a falling knife.
JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc. said they’re halting purchases of Bitcoin and other cryptocurrencies on their credit cards. JPMorgan, enacting the ban Saturday, doesn’t want the credit risk associated with the transactions, company spokeswoman Mary Jane Rogers said.
Bank of America started declining credit card transactions with known crypto exchanges on Friday. The policy applies to all personal and business credit cards, according to a memo. It doesn’t affect debit cards, said company spokeswoman Betty Riess.
And late Friday, Citigroup said it too will halt purchases of cryptocurrencies on its credit cards. “We will continue to review our policy as this market evolves,” company spokeswoman Jennifer Bombardier said.
https://www.bloomberg.com/news/arti...l-cryptocurrency-transactions-on-credit-cards
A growing number of big U.S. credit-card issuers are deciding they don’t want to finance a falling knife.
JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc. said they’re halting purchases of Bitcoin and other cryptocurrencies on their credit cards. JPMorgan, enacting the ban Saturday, doesn’t want the credit risk associated with the transactions, company spokeswoman Mary Jane Rogers said.
Bank of America started declining credit card transactions with known crypto exchanges on Friday. The policy applies to all personal and business credit cards, according to a memo. It doesn’t affect debit cards, said company spokeswoman Betty Riess.
And late Friday, Citigroup said it too will halt purchases of cryptocurrencies on its credit cards. “We will continue to review our policy as this market evolves,” company spokeswoman Jennifer Bombardier said.
DeadBall
First Class Captain
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- Jan 26, 2018
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A friend of mine has already made 1.2 million off bitcoin, has sold about 400k worth and even invited me to a week in Vegas with the proceedings. He is a really nice guy and used to work as a waiter before he quit it once bitcoin went past 8000 dollars. He is totally into researching and investing in crypto currencies now. Also his Romanian GF whom he met through me and who dumped him saying he had no vision in life keeps calling me to try to get them back together again. 
kingusama92
ODI Captain
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- Jan 9, 2008
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You're spot on about the overflow of new cryptocurrencies.
Some of the coins/tokens sound great until you dig deeper and realize they serve no purpose as an asset.That's where people will get killed in the end.
For example, Ether has a clear role in accessing/using the Ethereum blockchain. Its value is straightforward.
Bhaag Viru Bhaag
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Yeah only JioCoin will be considered a legal tender in India. Just wait and watch.
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Crossed 10k barrier after a long time
gazza619
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- 13,145
Bitcoin crashes to lowest this year, losses top 25 percent in a week
LONDON: Bitcoin slumped on Tuesday to its lowest this year, tumbling as much as 10 percent to breach $4,300 and taking losses in the world's best-known digital coin to 25 percent within a week.
Other smaller coins also skidded sharply as a broader cryptocurrency sell-off, said by traders and market makers to be rooted in heavy selling at leveraged Asian exchanges, gathered steam.
The fall followed a sudden plunge last week that shook bitcoin out of a period of relative stability, where prices had hovered around the $6,500 mark for several months.
Bitcoin sunk as far as $4,327, its lowest since October 2017. By mid-afternoon, it was trading around $4,750 on the Bitstamp exchange.
"We'd been waiting for a break-out," said Mati Greenspan, senior market analyst at eToro. "When you have the price moving so steadily you had lots of stop-loss orders building up - and now you are seeing them being liquidated."
Ripple's XRP and Ethereum's ether, the second and third-largest coins, fell as much as 14 and 16 percent respectively before clawing back losses in U.S. trading hours.
Tuesday's falls coincided with broader drops in financial markets. European shares fell as poor retail results and weakness in Apple Inc dragged down Wall Street.
Bitcoin has plummeted over 75 percent this year from a peak of $20,000 touched in December as retail investors piled into a one of the largest bubbles in history.
"CASINO MENTALITY"
Traders and market makers blamed bitcoin's slide on heavy selling at leveraged exchanges in Asia such as Hong Kong-based OKEx and Bitmex. Few exchanges in the West lend bitcoin to traders, making the Asian venues popular with speculators.
"The presence of leverage makes day traders attracted to Asian markets," said Michael Moro, CEO of Genesis Global Trading in New York, one of the biggest over-the-counter trading desks.
"Folks who are risking 100X type of leverage, it’s really difficult to think of that as an investment – it’s a casino mentality."
Others blamed fears that last week's "hard fork" in bitcoin cash, where a software upgrade split the fourth-biggest coin into two separate currencies, could destabilise others.
The price of bitcoin tends to be sensitive to debates over how its underlying network evolves. Last year the suspension of hard fork planned by major developers and investors proved a major catalyst to its breakneck rise.
TOUGH BILLING
Mainstream investors have stayed clear of bitcoin, with concerns over scant regulatory oversight and undeveloped market infrastructure compounded by frequent swings in price.
That lack of involvement has seen bitcoin struggle to live up to its billing as something that will revolutionise world finance. Its usage as a payment currency has shrivelled this year.
At the same time, bitcoin's plunge in value has calmed the fears of regulators and central bankers that it could one day pose a risk to financial stability.
According to industry tracker Coinmarketcap.com, the total value of cryptocurrencies is now around $154 billion, down from a peak of around $800 billion in January.
Cryptocurrency advocates say bitcoin is still young and price volatility is to be expected. Many predict the need for virtual currencies that operate beyond mainstream banking will outlast any short-term price falls.
By late afternoon, XRP and ether were trading around $0.45 and $142 respectively on the Luxembourg-based Bitstamp exchange.
"The euphoria has died and prices have consolidated with lower lows and lower highs," said Fawad Razaqzada, an analyst at Forex.com "A lot of people have lost interest."
https://timesofindia.indiatimes.com...25-percent-in-a-week/articleshow/66713814.cms
LONDON: Bitcoin slumped on Tuesday to its lowest this year, tumbling as much as 10 percent to breach $4,300 and taking losses in the world's best-known digital coin to 25 percent within a week.
Other smaller coins also skidded sharply as a broader cryptocurrency sell-off, said by traders and market makers to be rooted in heavy selling at leveraged Asian exchanges, gathered steam.
The fall followed a sudden plunge last week that shook bitcoin out of a period of relative stability, where prices had hovered around the $6,500 mark for several months.
Bitcoin sunk as far as $4,327, its lowest since October 2017. By mid-afternoon, it was trading around $4,750 on the Bitstamp exchange.
"We'd been waiting for a break-out," said Mati Greenspan, senior market analyst at eToro. "When you have the price moving so steadily you had lots of stop-loss orders building up - and now you are seeing them being liquidated."
Ripple's XRP and Ethereum's ether, the second and third-largest coins, fell as much as 14 and 16 percent respectively before clawing back losses in U.S. trading hours.
Tuesday's falls coincided with broader drops in financial markets. European shares fell as poor retail results and weakness in Apple Inc dragged down Wall Street.
Bitcoin has plummeted over 75 percent this year from a peak of $20,000 touched in December as retail investors piled into a one of the largest bubbles in history.
"CASINO MENTALITY"
Traders and market makers blamed bitcoin's slide on heavy selling at leveraged exchanges in Asia such as Hong Kong-based OKEx and Bitmex. Few exchanges in the West lend bitcoin to traders, making the Asian venues popular with speculators.
"The presence of leverage makes day traders attracted to Asian markets," said Michael Moro, CEO of Genesis Global Trading in New York, one of the biggest over-the-counter trading desks.
"Folks who are risking 100X type of leverage, it’s really difficult to think of that as an investment – it’s a casino mentality."
Others blamed fears that last week's "hard fork" in bitcoin cash, where a software upgrade split the fourth-biggest coin into two separate currencies, could destabilise others.
The price of bitcoin tends to be sensitive to debates over how its underlying network evolves. Last year the suspension of hard fork planned by major developers and investors proved a major catalyst to its breakneck rise.
TOUGH BILLING
Mainstream investors have stayed clear of bitcoin, with concerns over scant regulatory oversight and undeveloped market infrastructure compounded by frequent swings in price.
That lack of involvement has seen bitcoin struggle to live up to its billing as something that will revolutionise world finance. Its usage as a payment currency has shrivelled this year.
At the same time, bitcoin's plunge in value has calmed the fears of regulators and central bankers that it could one day pose a risk to financial stability.
According to industry tracker Coinmarketcap.com, the total value of cryptocurrencies is now around $154 billion, down from a peak of around $800 billion in January.
Cryptocurrency advocates say bitcoin is still young and price volatility is to be expected. Many predict the need for virtual currencies that operate beyond mainstream banking will outlast any short-term price falls.
By late afternoon, XRP and ether were trading around $0.45 and $142 respectively on the Luxembourg-based Bitstamp exchange.
"The euphoria has died and prices have consolidated with lower lows and lower highs," said Fawad Razaqzada, an analyst at Forex.com "A lot of people have lost interest."
https://timesofindia.indiatimes.com...25-percent-in-a-week/articleshow/66713814.cms
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corneredtiger85292
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this
Ashraful_Rox
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Cryptocurrencies
Do we have any Bitcoin Millionaires over here?
Do you believe in decentralizing the Internet?
Which cryptocurrencies have you invested in
Do we have any Bitcoin Millionaires over here?
Do you believe in decentralizing the Internet?
Which cryptocurrencies have you invested in
Ashraful_Rox
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- Feb 28, 2010
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There are some good projects which everyone can look into, right now is the best time to invest as it's a bear market and in the next bull run Bitcoin will be worth at least $30,000 if not more.
ElRaja
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my views havnt changed much from the first page, fundamentally i liked the idea but have had reservations throughout.
as it is now, it has pbly become one of the biggest lay person centric destroyers of wealth ive ever seen. i know poeple who made good money in bitcoin, but i also know people who lost money.
the problem is those who made 15, 20 grand, there life dont change much, but for those who lose similar amounts it can be a massive problem.
the cult of bitcoin i have a huge problem with however, no one can attach any intrinsic value to bitcoin, as a means of exchange its pretty rubbish, as a store of value it has failed.
it is the cult hodlers who have made this problem, no one sits on sterling or dollars out of a fundamental conviction that it is the most superior investment available, bitcoin will never function as a currency until people accept it has very limited upside and actually trade with it rather than sitting on it.
do i regret not getting in when it was about $10, yeah, but i never fully understood it then, and tbh i dont really understand how to value it now, and having spoken to a lot of people who have "invested" in bitcoin, especially around the mania phase, they had very little idea of what bitcoin was fundamentally worth, if anything.
anyhoo, thats my six penneth worth.
as it is now, it has pbly become one of the biggest lay person centric destroyers of wealth ive ever seen. i know poeple who made good money in bitcoin, but i also know people who lost money.
the problem is those who made 15, 20 grand, there life dont change much, but for those who lose similar amounts it can be a massive problem.
the cult of bitcoin i have a huge problem with however, no one can attach any intrinsic value to bitcoin, as a means of exchange its pretty rubbish, as a store of value it has failed.
it is the cult hodlers who have made this problem, no one sits on sterling or dollars out of a fundamental conviction that it is the most superior investment available, bitcoin will never function as a currency until people accept it has very limited upside and actually trade with it rather than sitting on it.
do i regret not getting in when it was about $10, yeah, but i never fully understood it then, and tbh i dont really understand how to value it now, and having spoken to a lot of people who have "invested" in bitcoin, especially around the mania phase, they had very little idea of what bitcoin was fundamentally worth, if anything.
anyhoo, thats my six penneth worth.
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Ashraful_Rox
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Fair Enough. I am looking into genuine projects at the moment. The bubble has bursted and a lot of people became millionaires while a lot also lost their life savings. Innocent investors who invested in a ponzi scheme like Bitconnect are burned to the ground
There are more than 2000 projects at the moment and many more will be listed, most of these projects will die out and I think we are going to be left with 100 or lower. Most are scams. It's risky at the moment to invest in Bitcoin but a bull run will come in 2019. ICO's were the cause of the bull run last year, let's see how long we need to wait for the next wave.
I like using the Brave browser as it cuts out the adds. Steemit is a good addition as well even though they laid off 70% of their employees. Sirinlabs launched their new crypto phone which I haven't tested out but thinking of ordering one. There's also a debit card which was launched by crypto.com, I think adoption will start happening in the next financial crisis. I do agree I don't find Bitcoin as a store of value, just because of hype alone people bought it. The transaction fees are more expensive than banks at the moment.
There are a few coins that I am looking into as I believe It will be big in the coming years. I don't want to put my money in the bank where it's values depreciates anyway yearly. Why not put my money in something which will appreciate in value overtime.
This is how I have distributed my wealth. Bitcoin 40% Alt Coin 30% Fiat 30%
ElRaja
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disagree, the last wave come off the back off mainstream awareness of bitcoin, i had cab drivers telling me to invest in it, thats usually a sign things have done haywire.
only a few months ago bitcoin was being driven by hopes of adoption and integration into the mainstream financial system, but at the same time people say its a hedge against the monopoly of the mainstream financial system, this contradiction has pervaded bitcoin narrative in the last year.
then what utility makes it worth $30k in a years time?
This is how I have distributed my wealth. Bitcoin 40% Alt Coin 30% Fiat 30%
if you are happy with that risk profile, i.e. significantly comfortable with taking losses i would put far more of my money in high risk equities than cryptos.
Gabbar Singh
Test Debutant
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XRP @ $0.37, what happened? For a long time it was being hyped as the best thing since sliced bread.
Ashraful_Rox
Test Debutant
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Don't like Ripple man, it will never get listed on coinbase. Stellar Lumens and Cardano ada are next to be listed. Can get a 30% profit easily
as it's a bear market there is a dip in $$$
Asif khan
First Class Player
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I've been margin trading on bitmex for a while. Really need to get into a game plan and studying technical analysis and with proper risk management you can make a lot of money on a regular basis.
Fundamentally, there's way too many over-hyped projects that need to get washed out as they serve no purpose whatsoever. I can see the market makers dropping bitcoin to sub 2k levels and completely destroying many alts before we start a new cycle.
Fundamentally, there's way too many over-hyped projects that need to get washed out as they serve no purpose whatsoever. I can see the market makers dropping bitcoin to sub 2k levels and completely destroying many alts before we start a new cycle.
Ashraful_Rox
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The cycle has already started, Steemit has laid off 70% of their employees not to mention Bread (wallet) got delisted from one of the exchanges. Then there's ETC closing down their developer meetings, more bad times ahead. It's good for the long run as a lot of the alts are scams
Asif khan
First Class Player
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Steemit was created by Dan Larimer (Eos) a notorious hit and run guy and now he's on about starting his 5th project which has caused a large drop in Eos too. Absolutely, most are scams and with stocks having a meltdown it's gonna get far worse before it get's better. It really is better to margin trade and make more btc whilst this continues. Do you have an eye on some projects in the long run?
Bhaag Viru Bhaag
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Do we have any Bitcoin Millionaires over here?
Do you believe in decentralizing the Internet?
Which cryptocurrencies have you invested in
[MENTION=136588]CricketCartoons[/MENTION] is.
CricketCartoons
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[MENTION=136588]CricketCartoons[/MENTION] is.
Rupees millionaire doesn't count.
Ashraful_Rox
Test Debutant
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Hi brother, apologies for the late reply. I think Elastos will be big once the ban has been lifted from China. I am waiting for the next dip and going to grab a bag of Elastos. You can look into travala as well. It has a smaller market cap and their team is very active in telegram. Travala was built on the Neo. Thinking of picking up some Cardano ada as well, they recently have released their card in South Korea partnership with Metaps.
My bags are 1:BTC 2: ETH 3: ADA 4: ELA 5: NEO 6: ICX (another dip i'll buy some more)
I have also bought some Pundi X as you get a nice airdrop, it's a long time wait but they already have released their product also working hard on real adoption.
You can look into Ontology as well, will give you a passive income.
Asif khan
First Class Player
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I'm a huge fan of Elastos and believe it will be massive in the future, they have been coding the damn thing for 18 years, blockchain was just the missing sauce. Btc and Eth are guaranteed but not a fan of the others to be honest. Ont have only unlocked 16% of their overall supply and at some point will unlock another 40% or so which will significantly effect eh price imo.
Another section I'm closely keeping an eye on are STOs...SEC compliant and full regulated they are gonna take over from the ICO craze. During this crash, CHX casually did a 7x over the last month and a while back RVN went crazy too.
I'll have to check out Travala, never heard of that one but finally...it's nice to see some green at last.
Ashraful_Rox
Test Debutant
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Hey bro I bought Eth at 90 and today it's mooning. Made 2 k, good gains
Ashraful_Rox
Test Debutant
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Sto's are the new ICO's and it's going to be big in 2019, good call. Eth I have a feeling will take us to the moon.
Asif khan
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Awesome bro I longed with leverage on bitmex at 10x, made some tidy profit too. Be careful bro, I have a feeling next week might be bloody, we are close to serious overhead resistance and getting there whilst being overbought can cause a sudden sharp drop.
I checked your Travala recommendation. am I right in saying it's done over 800% over the last month or so? I think you picked a gem there.
Asif khan
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Well, it is obvious that Bitcoin is not dead. Many people are still invested in it's success. However I consider it to be quite risky and untrustworthy. You see, I have been trading for a couple of years already and have a reliable broker (IC Markets https://fx- list.com/broker/ic-markets) It has never let me down and I haven`t lost a penny. So why should I change the situation? I believe a bird in the hand is worth two in the bush
The thing with crypto if you use strict risk management you really can make life changing money in a year. I don't believe you can in any other asset class although they may give you safer returns.
Asif khan
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Eth hard fork next month, journey from POW to POS and I think it may put a lot of pressure on Btc next year.
Ashraful_Rox
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Let's make some gains together brother
I am holding my eth tight, every morning seeing green Alhamdullilah life is good. I am holding till jan 16 then sell but as some people are saying we haven't reached the bottom yet is making me a little scared but Inshallah we can get out with good returns. Yeah I bought Ava when it was 0.07 from Switcheo, Switcheo has a few gems which can boom next year, haven't invested much. Travala is cheaper compared to booking.com & hotels.com which is refreshing. Wouldn't recommend buying now, maybe in the next crash we can accumulate more.
XRP is mooning again. Yesterday it was ETh and today it's xrp. I am holding ada, hope tomorrow is Cardano's day. Only thing is Cardano doesn't have a working product yet and it's all hype. Also their Daedalus wallet doesn't function properly.
Asif khan
First Class Player
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Let's make some gains together brother
Yeah I bought Ava when it was 0.07 from Switcheo, Switcheo has a few gems which can boom next year, haven't invested much. Travala is cheaper compared to booking.com & hotels.com which is refreshing. Wouldn't recommend buying now, maybe in the next crash we can accumulate more.
XRP is mooning again. Yesterday it was ETh and today it's xrp. I am holding ada, hope tomorrow is Cardano's day. Only thing is Cardano doesn't have a working product yet and it's all hype. Also their Daedalus wallet doesn't function properly.
InshAllah brother and it's one of the reasons why I can't invest in Ada. There's no working project so in my mind it's overvalued although it does have a fantastic idea.. Sadly we definitely haven't found the bottom from a technical point of view and Bitcoin seems to be doing a bottoming out phase like it did in 2014. Having said that we can easily do a rally to 5k+ but the 200 day moving average will take some breaking.
Nice brother, you made some killer profit on Travala and it's one of the beauties of crypto. At any pint some coin can just take off (pnd) aside and give a fantastic return. You just can't do that in any other market. The smaller exchanges have some fantastic innovative projects which are legit gems. I had great gains with hydro on idex a while back.
I wonder what your thoughts are on the stock market crash, do you think there's a chance they can switch over to bitcoin has a safe haven or is that wishful thinking?
Quadriga: Cryptocurrency exchange founder's death locks $140m
Canada's largest cryptocurrency exchange is unable to access millions in digital currency following the sudden death of its founder.
Quadriga has filed for creditor protection and estimates that about C$180m ($137m; £105m) in cryptocurrency coins is missing.
It has not been able to locate or secure its cryptocurrency reserves since Gerald Cotten died in December.
Cotten, 30, had sole responsibility for handling the funds and coins.
In court documents filed with the Nova Scotia Supreme Court on 31 January, his widow Jennifer Robertson, says the laptop on which Cotten "carried out the companies' business is encrypted and I do not know the password or recovery key".
"Despite repeated and diligent searches, I have not been able to find them written down anywhere," the affidavit states.
The company hired an investigator to see if any information could be retrieved but ongoing efforts have had only "limited success in recovering a few coins" and some information from Cotten's computer and phone.
The company is also investigating whether some of the cryptocurrency could be secured on other exchanges, according to court files.
They say about 115,000 Quadriga users hold balances in their personal accounts in the form of cash obligations and cryptocurrency.
The company estimates it owes about C$250m ($190m; £145m) - including C$70m in hard currency.
The affidavit says the majority of the cryptocurrency was kept by Quadriga in a "cold wallet" or "cold storage", which is located offline and used to secure cryptocurrency from hacking or theft.
Liquidity problems for the British Columbia-based company began in January 2018 when Canadian bank CIBC froze C$25.7m linked to its payment processor after the bank had difficulty determining who were the owners of the money.
Those problems have been compounded by Cotten's passing.
The founder died unexpectedly due to complications with Crohn's disease while travelling in India, according to court documents.
In a statement posted online last Thursday, Quadriga said it is working to address its "liquidity issues, which include attempting to locate and secure our very significant cryptocurrency reserves held in cold wallet".
The company is due in court in Nova Scotia on Tuesday for a preliminary hearing on appointing firm Ernst and Young as an independent monitor to oversee the proceedings.
https://www.bbc.com/news/world-us-canada-47123371
Canada's largest cryptocurrency exchange is unable to access millions in digital currency following the sudden death of its founder.
Quadriga has filed for creditor protection and estimates that about C$180m ($137m; £105m) in cryptocurrency coins is missing.
It has not been able to locate or secure its cryptocurrency reserves since Gerald Cotten died in December.
Cotten, 30, had sole responsibility for handling the funds and coins.
In court documents filed with the Nova Scotia Supreme Court on 31 January, his widow Jennifer Robertson, says the laptop on which Cotten "carried out the companies' business is encrypted and I do not know the password or recovery key".
"Despite repeated and diligent searches, I have not been able to find them written down anywhere," the affidavit states.
The company hired an investigator to see if any information could be retrieved but ongoing efforts have had only "limited success in recovering a few coins" and some information from Cotten's computer and phone.
The company is also investigating whether some of the cryptocurrency could be secured on other exchanges, according to court files.
They say about 115,000 Quadriga users hold balances in their personal accounts in the form of cash obligations and cryptocurrency.
The company estimates it owes about C$250m ($190m; £145m) - including C$70m in hard currency.
The affidavit says the majority of the cryptocurrency was kept by Quadriga in a "cold wallet" or "cold storage", which is located offline and used to secure cryptocurrency from hacking or theft.
Liquidity problems for the British Columbia-based company began in January 2018 when Canadian bank CIBC froze C$25.7m linked to its payment processor after the bank had difficulty determining who were the owners of the money.
Those problems have been compounded by Cotten's passing.
The founder died unexpectedly due to complications with Crohn's disease while travelling in India, according to court documents.
In a statement posted online last Thursday, Quadriga said it is working to address its "liquidity issues, which include attempting to locate and secure our very significant cryptocurrency reserves held in cold wallet".
The company is due in court in Nova Scotia on Tuesday for a preliminary hearing on appointing firm Ernst and Young as an independent monitor to oversee the proceedings.
https://www.bbc.com/news/world-us-canada-47123371
sweep_shot
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OneCoin Scam: Pakistanis disproportionately affected, lost millions of dollars in world’s biggest cr
The OneCoin scam was among the world's biggest crypto-scam that hit the digital world this year.
As it turns out that the multi-billion dollar cryptocurrency built by Dr Ruja Ignatova was nothing more than a pyramid scheme. Back in March, Ignatova, the founder of OneCoin, was charged by US for securities fraud, wire fraud, and money laundering, but as yet is not under arrest.
Back in 2015 Ignatova build a team of Multi-Level-Marketers, which turned out to be a success from the beginning.“We made in our first month almost 90,000 euros out of nothing," said Igor Albus, one of the world's highest-earning Multi-Level-Marketers and former OneCoin top seller to BBC Speaks.
Talking about the working of OneCoin, Igor revealed that the team was made up of thousands of professional network marketers, they would built OneCoin packages and became independent marketing associates; they will then sell packages to other people making money via commission__ 40 percent would come in OneCoin whereas 60pc came in Euros.
So how did Muslims became the target of this scheme? As the lawfulness of the newly emerged cryptocurrencies has been much of a debate among Islamic scholars, Muslims seek Shariah-compliant certificate to carry out investments in such currencies.
Mindful of this, OneCoin publicised their own Shariah-compliant certificate, issued by the Pakistan-based Al-Huda Center of Islamic Banking and Economics, bringing in great relief for British Muslims.
However as it was expected the certificate proved to be fake. “There was no evidence of any research carried on, it was just a blank certificate saying this okay," said Mufti Mohammad Amjad, a scholar from Bradford.
The mufti then issued a fatwa- a religious ruling, saying that Muslims should not invest in OneCoin.
“OneCoin does not exist so it is a fraud, I would say engaging in OneCoin is not Shariah compliant," he added. Meanwhile, the Al-Huda Center has since published a press release clarifying that it did not certify OneCoin as Shariah compliant.
Even SBP had warned as far back as May 2018, specifically mentioning OnceCoin in a list of cryptocurrencies, " Virtual Currencies (VCs) like Bitcoin, Litecoin, Pakcoin, OneCoin, DasCoin, Pay Diamond etc. or Initial Coin Offerings (ICO) tokens are not legal tender, issued or guaranteed by the Government of Pakistan. SBP has not authorized or licensed any individual or entity for the issuance, sale, purchase, exchange or investment in any such Virtual Currencies/Coins/Tokens in Pakistan," the circular had said.
As per Amjad people used to recruit their close friends and family into OneCoin which is why a lot of victims might not now go to the authorities, because the people who recruited them into the scheme are family members.
As per reports, British Asians have lost millions of pounds to OneCoin.
https://www.brecorder.com/2019/10/3...ollars-in-worlds-biggest-cryptocurrency-scam/
The OneCoin scam was among the world's biggest crypto-scam that hit the digital world this year.
As it turns out that the multi-billion dollar cryptocurrency built by Dr Ruja Ignatova was nothing more than a pyramid scheme. Back in March, Ignatova, the founder of OneCoin, was charged by US for securities fraud, wire fraud, and money laundering, but as yet is not under arrest.
Back in 2015 Ignatova build a team of Multi-Level-Marketers, which turned out to be a success from the beginning.“We made in our first month almost 90,000 euros out of nothing," said Igor Albus, one of the world's highest-earning Multi-Level-Marketers and former OneCoin top seller to BBC Speaks.
Talking about the working of OneCoin, Igor revealed that the team was made up of thousands of professional network marketers, they would built OneCoin packages and became independent marketing associates; they will then sell packages to other people making money via commission__ 40 percent would come in OneCoin whereas 60pc came in Euros.
So how did Muslims became the target of this scheme? As the lawfulness of the newly emerged cryptocurrencies has been much of a debate among Islamic scholars, Muslims seek Shariah-compliant certificate to carry out investments in such currencies.
Mindful of this, OneCoin publicised their own Shariah-compliant certificate, issued by the Pakistan-based Al-Huda Center of Islamic Banking and Economics, bringing in great relief for British Muslims.
However as it was expected the certificate proved to be fake. “There was no evidence of any research carried on, it was just a blank certificate saying this okay," said Mufti Mohammad Amjad, a scholar from Bradford.
The mufti then issued a fatwa- a religious ruling, saying that Muslims should not invest in OneCoin.
“OneCoin does not exist so it is a fraud, I would say engaging in OneCoin is not Shariah compliant," he added. Meanwhile, the Al-Huda Center has since published a press release clarifying that it did not certify OneCoin as Shariah compliant.
Even SBP had warned as far back as May 2018, specifically mentioning OnceCoin in a list of cryptocurrencies, " Virtual Currencies (VCs) like Bitcoin, Litecoin, Pakcoin, OneCoin, DasCoin, Pay Diamond etc. or Initial Coin Offerings (ICO) tokens are not legal tender, issued or guaranteed by the Government of Pakistan. SBP has not authorized or licensed any individual or entity for the issuance, sale, purchase, exchange or investment in any such Virtual Currencies/Coins/Tokens in Pakistan," the circular had said.
As per Amjad people used to recruit their close friends and family into OneCoin which is why a lot of victims might not now go to the authorities, because the people who recruited them into the scheme are family members.
As per reports, British Asians have lost millions of pounds to OneCoin.
https://www.brecorder.com/2019/10/3...ollars-in-worlds-biggest-cryptocurrency-scam/
sweep_shot
T20I Captain
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- Mar 30, 2016
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These digital currencies are quite dodgy and I advice people not to try these until things get stabilized.
I used to buy Bitcoin a few years ago but I left after seeing the extreme uncertainty. You can't really predict anything with Bitcoin.
I used to buy Bitcoin a few years ago but I left after seeing the extreme uncertainty. You can't really predict anything with Bitcoin.
corneredtiger85292
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- Sep 19, 2012
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Respect the opinion of Admin's post above, but i am of the opinion that now is in fact the perfect time to buy. Never buy more then you can afford to lose but there are big events occuring in 2020 RE crypto and especially Bitcoin. No doubt there are a number of dodgy projects in the crypto space but stick to Bitcoin and again, buy only what you can afford to lose. Buy and hold for 3 years, i am in confident it has a role to play in the years ahead. Just my my opinion but i have certainly put my money where my mouth is
Technics 1210
Test Debutant
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It's better to hold positions in Crypto Indexes, and not coins. This way you are betting on the crypto industry rather than specific crypto-currency.
Bitcoin technology however might be sound but in practice is a failure. For Bitcoin to be practical it must process 10 millions of transactions per second, this is just not possible with Bitcoin.
Bitcoin technology however might be sound but in practice is a failure. For Bitcoin to be practical it must process 10 millions of transactions per second, this is just not possible with Bitcoin.
The Viper
T20I Debutant
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Bitcoin rises above $10,000 for first time since early June
After several weeks of trading in narrow ranges, bitcoin breached $10,000 on Sunday for the first time since early June.
In addition to suffering pricing blows due to the economic fallout from the coronavirus outbreak, the virtual currency went through its third so-called halving on May 11, which cut the rewards given to those who "mine" bitcoin BTC=BTSP to 6.25 new coins from 12.5.
The “halving” has affected the supply side of bitcoin and increased the time needed for miners to find their break-even point.
On Sunday, the cryptocurrency hit highs of $10,200.
https://uk.reuters.com/article/uk-c...irst-time-since-early-june-idUKKCN24R0QC?il=0
After several weeks of trading in narrow ranges, bitcoin breached $10,000 on Sunday for the first time since early June.
In addition to suffering pricing blows due to the economic fallout from the coronavirus outbreak, the virtual currency went through its third so-called halving on May 11, which cut the rewards given to those who "mine" bitcoin BTC=BTSP to 6.25 new coins from 12.5.
The “halving” has affected the supply side of bitcoin and increased the time needed for miners to find their break-even point.
On Sunday, the cryptocurrency hit highs of $10,200.
https://uk.reuters.com/article/uk-c...irst-time-since-early-june-idUKKCN24R0QC?il=0
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