Cryptocurrency

[d000hg]

Very easy to get verified. Did it the other day to avoid a 0.06BTC withdrawl limit.

Boom-town today in crypto-land. Haven't checked why.

[AtW]

It is remarkable how many binance customers seem unable to withdraw actual cash from their systems...

It’s a common practice in all pyramid scams - the amount of real cash available to let people cash out is limited and used mostly by the scam organisers - in this case amount of real money behind “stable coins” isn’t enough to cover even large fraction of redemptions, it was that unchecked emission of “stable coins” that allowed to prop up the “market” when it needed buyers.

Ironically banks preventing withdrawals help prolong this scam.

[d000hg]

So what crypto are people investing in? Might as well use this thread for something other than Atw's ignorant rambling ("limited real money", oh dear he doesn't even know how markets work)

I currently am split fairly evenly between:

• Bitcoin
• Ethereum
• Ripple (XRP)
• Cardano (ADA)
• Shiba Inu

I missed the big dip so this is as a couple of weeks back, prior to that I sold everything before it went too far to ****. I would ideally add DOGE but missed it when assigning funds. SHIB is a total punt-coin.

[jimjamuk]

Wow looks like AtW is a fan then!

Been dabbling with crypto for a few years and have turned a few hundred into 15k in that time. Currently holding BTC, ETH, CAKE, 1INCH, ATOM and some odds.

Would have had alot more but sold most of the 3BTC I had back then for a family holiday

Not managed to use any of it for fraud, money laundering, drug / hookers yet. And not broken the CGT threshold in any year yet so a nice side hobby

[d000hg]

Wow looks like AtW is a fan then!

Been dabbling with crypto for a few years and have turned a few hundred into 15k in that time. Currently holding BTC, ETH, CAKE, 1INCH, ATOM and some odds.

Would have had alot more but sold most of the 3BTC I had back then for a family holiday

Not managed to use any of it for fraud, money laundering, drug / hookers yet. And not broken the CGT threshold in any year yet so a nice side hobby

I don't know CAKE or 1INCH. I like the idea of NANO, surprised it hasn't done more with all the talk about transaction efficiency and still languishes just outside the top 100.

[AtW]

Not managed to use any of it for fraud, money laundering, drug / hookers yet. And not broken the CGT threshold in any year yet so a nice side hobby

You've most likely taken part in money laundering by buying and/or selling tulicoins, well done on not breaking tax laws in the process.

Thank you for supporting cybercriminals, terrorists and just general scambags.

[jimjamuk]

You're welcome....

Thankfully FIAT is a safe option to avoid all those things... oh wait!

[jimjamuk]

It’s a common practice in all pyramid scams - the amount of real cash available to let people cash out is limited and used mostly by the scam organisers - in this case amount of real money behind “stable coins” isn’t enough to cover even large fraction of redemptions, it was that unchecked emission of “stable coins” that allowed to prop up the “market” when it needed buyers.

Ironically banks preventing withdrawals help prolong this scam.

While this is true the three main stable coins arent backed 1:1 with USD, do you think the banks would fare any better if there was a run on a bank and everyone started to pull their money out. You bet they would put up a "temporary" halt to money being withdrawn until they could cover their deposits as we all know they lend it out to make a margin on it

[AtW]

do you think the banks would fare any better if there was a run on a bank and everyone started to pull their money out. You bet they would put up a "temporary" halt to money being withdrawn until they could cover their deposits as we all know they lend it out to make a margin on it

Yes, banks will do a lot better as Central Banks will bail them out to prevent banking system from folding, there is only one exception to this - in 3rd world countries when deposits are in foreign currency which Central Bank may not have in full to cover deposits.

For local currency it's not a problem however, so banks far far safer, and since people know that (it got tested in 2009) they won't be doing bank run in the first place, especially with cash transations going down.

[ladymuck]

So I see PayPal is now allowing crypto via its platform in the UK

https://www.theguardian.com/technolo...ereum-litecoin