Cryptocurrency

[AtW]

Or you treat it like the lottery, you mine for years hoping to hit the jackpot. Current mining reward is 6.25 BTC I think, so that could be quite a lot of money for a permie if the miner is lucky.

Cheaper, easier and quicker to buy lottery tickets

[AtW]

“Financial watchdog bans crypto exchange Binance from UK
FCA also issues consumer alert against sprawling cryptocurrency group

The UK’s financial watchdog has ordered Binance to stop all regulated activities in Britain and imposed stringent requirements in a stinging rebuke of one of the world’s biggest cryptocurrency exchanges.

The intervention by the Financial Conduct Authority in recent days is one of the most significant moves any global regulator has made against Binance, a sprawling digital asset firm with subsidiaries around the world.

The exchange has until Wednesday evening to confirm it has complied with the watchdog’s demands, and removed its advertising. The intervention is a sign of how regulators are cracking down on the cryptocurrency industry over concerns relating to its potential role in illicit activities such as money laundering and fraud, and over often weak consumer protection.

The FCA also this weekend issued a consumer warning against both the Cayman Islands-registered Binance holdings company and Binance Markets Limited, a London-based affiliate that is controlled by chief executive Changpeng Zhao and is overseen by the UK regulator. “Binance Markets Limited is not permitted to undertake any regulated activity in the UK,” the FCA said, adding, “no other entity in the Binance Group holds any form of UK authorisation, registration or licence to conduct regulated activity in the UK.”

https://www.ft.com/content/8bc0e5e0-...5-acccaffaee87

They are dragging their feet on banning Scooter

[AtW]

They are not authorised but clearly being used by a lot of UK based consumers, so where is crackdown? Time to send Defender to Cayman Islands and demand all the documents/people hiding there

[Lockhouse]

It just said no Futures. Binance spot exchange carries on in the UK as normal. Clickbait.

[AtW]

It just said no Futures. Binance spot exchange carries on in the UK as normal. Clickbait.

Regulators and the police are coming to get you.

Flish your tulipcoins down the toilet whilst you have the chance.

[Jog On]

For anyone who's interested, coins which can still be mined from home:

https://bravenewcoin.com/insights/cr...-home-computer

POW mining is going the way of the dinosaur, If you want to generate crypto just buy some and stake it. POS is where it's all at now.

[AtW]

POS is where it's all at now.

It was POS from the very start and will be so until the (now imminent) end

[AtW]

“Binance: Financial watchdog FCA bans crypto-currency exchange

Binance, the world's biggest crypto-currency exchange, has been banned by the UK's financial regulator.

The Financial Conduct Authority (FCA) has ruled that the firm cannot conduct any "regulated activity" in the UK.

It also issued a consumer warning about Binance.com, advising people to be wary of adverts promising high returns on cryptoasset investments.

This comes amid pushback from regulators around the world against crypto-currency platforms.“

https://www.bbc.co.uk/news/business-57632831

Banned means banned - get over it.

[Lockhouse]

“Banned means banned - get over it.

From that same article:

However, they are still allowed to use the website to purchase and sell crypto-currencies, which is not regulated"

[Whorty]

From that same article:

However, they are still allowed to use the website to purchase and sell crypto-currencies, which is not regulated"

If someone is willing to accept that they may lose everything, with no protection and no recourse, then fine. But how many Joe Public understand this, and just fall for the hype that they will all become millionaires.

How many, in a few years time, will be looking to the "no win, no fee" ambulance chasers when they realise they didn't get what they thought they were?