Cryptocurrency

[Jog On]

This is the book I'm trying to get through on EW theory..it's hard work!
https://www.amazon.co.uk/gp/product/...?ie=UTF8&psc=1

I've read that - it's a bit of a slog. They have it all in video format on their website as well. Must go through them again one day:

Education :: Elliott Wave International

I like EW a lot - although I do agree with Chris Capre when he says you can put 100 Elliot wave analysts in the same room and none of them will agree on the same chart

EW is good for overall market direction but not pinpoint entries & exits. Best to combine it with price action. It's a good tool and I spent hours learning it so must get back into it!

[VirtualMonkey]

Bittrex to start accepting FIAT (USD only for now):

https://cryptosumer.com/2018/02/02/b...-bill-shihara/

preparing for lift off...destination...moon

Edit:
all they need to do now is enable registrations again (assuming they havent)

[scooterscot]

For our protection seemingly. Why does the other part me think banks shall use this opportunity to buy in themselves, or am I being a paranoid android?


Major Banks Ban Buying Bitcoin With Your Credit Card

Most major U.S. credit card issuers have now banned the use of their cards to buy Bitcoin or other digital currencies, in a move intended to decrease both financial and legal risk.

Bank of America began blocking cryptocurrency purchases on Friday, according to Bloomberg. JPMorgan did the same on Saturday.

Citigroup also says it is halting cryptocurrency purchases on credit, and Capital One and Discover had already enacted their own bans. That means all of the top five credit card issuers have announced or implemented bans.

The moves are above all in the banks’ self-interest. As Fortune previously reported, the mania surrounding cryptocurrency late last year appears to have motivated many retail investors to use credit cards as leveraging tools, buying more cryptocurrency than they could afford. With Bitcoin down roughly 50% from December highs, many of those investors are likely underwater right now, and may not be able to pay off their initial Bitcoin purchases soon, if ever.

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Further, as Bloomberg points out, banks may be responsible for monitoring customers’ behavior to prevent money laundering after they make a credit-backed Bitcoin purchase, a tough standard for them to comply with.

The bans — or more to the point, the news of the bans — may exacerbate ongoing declines in cryptocurrency prices. After a hefty bounce Saturday morning, crypto markets broadly retreated on Sunday. Bitcoin is now trading at around $8,500 from a December high near $20,000.

In the longer term, however, tighter cryptocurrency investment controls, whether from regulators or lenders, seem likely to help mitigate the consequences of both hype and scams. For much of 2017, those threatened to overshadow the underlying promise of blockchain technology, which is still in the very early stages of evolution.

[DimPrawn]

Lloyds Bank in Bitcoin crackdown: credit card owners banned from buying cryptocurrency

Not just the USA. Banks want current crypto dead so they can market their own alternatives for a fee....

[scooterscot]

Lloyds Bank in Bitcoin crackdown: credit card owners banned from buying cryptocurrency

Not just the USA. Banks want current crypto dead so they can market their own alternatives for a fee....

VISA and Mastercard dead as well. Just tried both on one German and one UK account. Perfect time to get onboard too.

Feckers.

[munkee]

I'd use this opportunity as a time to look back at opportunities missed and buy in whilst the going is cheap. It's going to be a couple of years in my opinion before we see the regulations pushed through and become the "normal environment". Until that time its choppy seas and any gains are going to be marginal at best. Once the regulated market is in place I'd expect to see more legit gains and wider adoption.

[scooterscot]

I'd use this opportunity as a time to look back at opportunities missed and buy in whilst the going is cheap. It's going to be a couple of years in my opinion before we see the regulations pushed through and become the "normal environment". Until that time its choppy seas and any gains are going to be marginal at best. Once the regulated market is in place I'd expect to see more legit gains and wider adoption.

Agreed. Now is the time to use FIAT to get in, leave BTC traded assets in place - don't touch, you'll only be selling at a loss. However there's a number of good lprojects out there...

[DaveB]

Bitcoin falls below $5k. <placeholder>

[Hobosapien]

What are the current best methods of getting FIAT into the game?

Credit card fees are too high since they classed crypto purchases as cash advances, about 10% overall fees .

Debit card still working but that too at a cost of around 5%. I've used this as I drip small amounts in as I'm not in it for a 5% gain.

I suppose SEPA bank transfer is the next option, now the delays of a day or more may be an advantage while cryptos continue to fall. Apparently some banks offer SEPA transfers for 'free' (guess they claw it back in the exchange rate ) via online banking but charge £15/25 if via in branch.

Have a revolut account but that has a £4k annual limit unless jump through additional ID verification hoops. Want to keep some of that limit for euro holidays as apparently the debit card fees are competitive.

What are people's favourite routes of entry for dripping in FIAT that are still open to UK residents?

They may not be able to ban cryptos but they can sure make it difficult getting into them, for our own protection.

[tomtomagain]

Not just the USA. Banks want current crypto dead so they can market their own alternatives for a fee....

They don't need an alternative. They've already got a collection of largely digital currencies, all the infrastructure required to carry out thousands of transactions a second securely, a massive user-base, mechanisms to "mine" new currency as required and unparalleled brand-awareness.