Cryptocurrency

[chef]

Of course the government may take away my UK bank accounts after March next year, so Bitcoin it is.

You might wanna get a Babb account then

[TheGreenBastard]

You might wanna get a Babb account then

Where's Babb going? Down 90%, were tokens issued on a free or have folk spunked away dinero?

[scooterscot]

https://medium.com/babb/banking-lice...e-2839aa70f213

Banking license application deep dive
The low-down from CIO Paul about BABB’s progress with the regulators.

This post is the second in a new series of deep dives into the different areas of activity within BABB. This week, we focus on the banking license application, and Annie caught up with Paul to find out how it’s going.
A: Hey Paul. Can you give us an update on the current state of the two banking license applications we’re preparing?
P: Hello. Of course. We are progressing with banking license applications in two jurisdictions: the UK and Lithuania.
To update you first on the UK license application; we’ve had some feedback from the Bank of England regulator, the Prudential Regulation Authority (PRA), over the last couple of weeks. As a consequence we have made some final tweaks to the regulatory business plan (RBP). We’ve been working to ensure that we are clear about why we intend to be a credit institution requiring a banking license, and not an e-money institution. This comes down to a difference in service offering; a bank provides credit (i.e. loans) whereas an e-money institution primarily provides payment services.

[FrontEnder]

Bitcoin back over 7k. Interesting to see what happens from here. It's refusing to drop below 6k for very long.

[scooterscot]

Still expect it to crash down a chunk and give up dominance for a month or so. If it goes north of $7.2k and stays up there for at least 24 hours, then all bets are off and I've no idea.

[DimPrawn]

Bitcoin back over 7k. Interesting to see what happens from here. It's refusing to drop below 6k for very long.

Lambo's all round then.

[DimPrawn]

wibble.... I've no idea.

The only honest thing you've said since you started this thread.

Let the dreamers keep dreaming though.

Are we still looking at $100K BTC by the end of the year?

[scooterscot]

yes

[DimPrawn]

yes

[scooterscot]

You know what the news tells you... and that ani't much. I know what institutions like ICE are up to in the background, and it's ground shaking.

You've got to remember there's a limited amount of BTC in circulation, current count around 11m in circulation. I know coin market says 17m, but 6m of that is tied up or lost.

I expect the market capital of crypto to be trillions later this year. For BTC to be $100k per coin it would need only have a market capital of $1.1t and even that would be less than 50% of dominance if the crypto market capital was around $2.5t, which will easily happen by the end of the year.

you're a stage 2 kind of guy, ATW is already on 3