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Are members invested in Bitcoin/crypto?

Walrus
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chief3630 chief3630
I took payment for a watch in Bitcoin. I like the idea of the value still having legs after the sale. It went up for awhile, and then back down...
Cool you do that. Me and my wife sell various items and I always notate crypto accepted although usually just btc or eth but I did make a transaction in Solana. If people don’t feel comfortable with crypto I understand completely it certainly ain’t for everyone. I was converting to stable coins but tbh they worry me a bit as that’s where Elizabeth Warrens and Janet Yellens focus seems to be, I’m not against regulation but too much regulation can be problematic.
Anyway leaving all that aside maybe 10% of my sales were in crypto. It wasn’t a lot a couple TV’s some tools and some jewelry but I sat on that and like you I experienced some downs but it’s well up now. I’ve been in for a while I’m willing to ride this out see where it goes. There is always the possibility it will go to 0, I guess it’s safe to say “investment” these days with the major players getting in but there is still a lot of speculation with the thousands of little coins popping up but time will answer all our questions I think there is a strong possibility adoption will continue and certain crypto will be a benefit but I’ve been living on ethereum hopium since it was 70.00 usd and it’s been cool to be part of.
 
stonestone
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Walrus Walrus
I read that as well but a different viewpoint presented by a “crypto expert” was it was due to algorithmic trading seeing percentage moves then everything starts chasing each other driving it up more. In the WSJ Monday they stated institutional investors have poured 1.4 trillion into crypto while retail traders have about 530 billion in. So it’s prob more likely the institutions are the movers. Hopefully the whales leave us a few crumbs as they pump and dump.
Interesting. I hadn’t realized institutional participation had already grown so large as a percentage of total trading activity. Then again I think it’s still the case that most of the BTC out there is held by hodlers who don’t trade at all.
 
Walrus
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stonestone stonestone
Interesting. I hadn’t realized institutional participation had already grown so large as a percentage of total trading activity. Then again I think it’s still the case that most of the BTC out there is held by hodlers who don’t trade at all.
Yes, we crypto holders are a strange bunch at act contrary to self preservation
B4EBA4F0-320E-4C0F-8C38-759E96CEC732.jpeg BE297A56-A7A9-4527-A7A3-C4F4D4DD1681.jpeg
 
stonestone
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Remarks from Janet Yellen, from today's WSJ: "We will continue to look at how the sanctions work and evaluate whether or not there are leakages, and we have the possibility to address them,” Ms. Yellen said at an event at the University of Illinois Chicago.

Some Senate Democrats wrote in a letter to Ms. Yellen Wednesday raising concerns that cryptocurrencies could be used to undermine the wide-ranging penalties, which have targeted Russian financial institutions, its central bank and individuals. Ms. Yellen said the Treasury was monitoring that possibility.

“I often hear cryptocurrency mentioned and that is a channel to be watched,” she said. Ms. Yellen added that many participants in cryptocurrency networks are subject to anti-money laundering and sanction rules. “It’s not that that sector is completely one where things can be evaded,” she said.
 
Walrus
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stonestone stonestone
Remarks from Janet Yellen, from today's WSJ: "We will continue to look at how the sanctions work and evaluate whether or not there are leakages, and we have the possibility to address them,” Ms. Yellen said at an event at the University of Illinois Chicago.

Some Senate Democrats wrote in a letter to Ms. Yellen Wednesday raising concerns that cryptocurrencies could be used to undermine the wide-ranging penalties, which have targeted Russian financial institutions, its central bank and individuals. Ms. Yellen said the Treasury was monitoring that possibility.

“I often hear cryptocurrency mentioned and that is a channel to be watched,” she said. Ms. Yellen added that many participants in cryptocurrency networks are subject to anti-money laundering and sanction rules. “It’s not that that sector is completely one where things can be evaded,” she said.
Probably why most of the major exchanges don’t touch privacy coins. I’m curious to see what will happen with litecoin if it’s “optional” privacy setting is enacted.

There was another article, I forget from where at the moment that the DOJ and other three letter government bodies have “refined their skills” at tracking crypto. The majority of people buy from KYC exchanges. Crypto is a platform like any other, you will have a bad element involved to an extent but after that credit Swiss breach we learned just how big “trusted” banking institutions can support and assist criminal activity it appears cash will always be king when it comes to criminal activity.
 
Observer
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Walrus Walrus
I read that as well but a different viewpoint presented by a “crypto expert” was it was due to algorithmic trading seeing percentage moves then everything starts chasing each other driving it up more. In the WSJ Monday they stated institutional investors have poured 1.4 trillion into crypto while retail traders have about 530 billion in. So it’s prob more likely the institutions are the movers. Hopefully the whales leave us a few crumbs as they pump and dump.
You were correct to put crypto expert in quotes considering that those two numbers are in excess of the combined crypto market cap.

I doubt cryptocurrencies will help Russia bypass sanctions to any meaningful degree. There's just not enough liquidity in the market to move that kind of money.
Edited:
 
stonestone
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Observer Observer
You were correct to put crypto expert in quotes considering that those two numbers are in excess of the combined crypto market cap.
The figures actually refer to trading volume. They are from a State Street report.
 
Observer
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stonestone stonestone
The figures actually refer to trading volume. They are from a State Street report.
That makes a lot more sense.
 
Walrus
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https://www.bloomberg.com/news/arti...tist-earns-60k-in-switch-from-spotify-to-web3

This may be hidden behind a paywall if so I tried but I was looking for the thread specifically about NFT’s but I can’t find it. I think the general tone towards NFT’s were negative at the time I thought it may be too early to pass judgment. One of my coworkers is really into them so he shows me his “collection”. The art is cool but it just doesn’t really do much for me and I don’t get the value factor. However I think the tech of NFT could become more useful and practical over time rather than just pictures of apes etc. it may be interesting to see if this evolves into more useful things. By the way I’m not criticizing those who are into NFT’s in their current incarnation I really don’t get the whole thing.
 
Walrus
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Observer Observer
I’d be very careful about donating to war efforts on the blockchain. Attitudes change, but that donation will be public forever.
They have a lot of people to track down
 
Walrus
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Observer Observer
Another milestone for institutional involvement.
https://www.cnbc.com/amp/2022/03/21...ces-otc-crypto-trade-with-galaxy-digital.html
https://www.coindesk.com/business/2...bridgewater-investing-in-crypto-fund-sources/
found another one. I knew Dalio has said he finds Bitcoin to be mindblowing looks like he’s poking around to get it in his fund.
It’s been an interesting couple weeks Bitcoin and eth had some pretty strong moves. I got a little taste of that ape coin going crazy 1,800% in hours then the inevitable back to earth. One of my coworkers went over the edge with NFT’s and if he shows me one more ape NFT and points out the different whisker set up than the one he showed me a second prior I am going to flip. I don’t think all that is necessarily good for crypto although it has helped in ETH becoming deflationary. I’m pretty sure the guys down the street from me made a killing when apecoin went nuts as they were up for several days.
Some interesting news with millions of eth being moved off exchanges and some final testing being done for POS. I’ll just stick with the big boys they treated me well this far I’m not rich but I haven’t been down in years. It’s fun speculating a bit on some of the hype but man chasing all that is nuts. Living in front of a computer screen (usually three or four) just following the latest hype. I guess it’s their job now but it seems the opposite of enjoyable. To each his own I guess.
 
Jayrock26v2
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bitcoin and ethereum will be part of the future of currency. get it before it becomes a world reserve and skyrockets 😲😁
 
Walrus
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Jayrock26v2 Jayrock26v2
bitcoin and ethereum will be part of the future of currency. get it before it becomes a world reserve and skyrockets 😲😁
608FA5FC-F6C2-459F-B045-1AB362D740DD.gif
 
Walrus
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I had a kinda comical exchange today. When my wife arrived back from a short business trip she was with the VP of engineering for her company which is a multinational Fortune 500 company so I would think his salary is pretty stratospheric. I guess crypto became on discussion on their 5 hour ride and the company is looking at ways to utilize it but in the mean time he is doing it on his own. Apparently he’s down pretty big I think he bought at the top of the last pump but has been active since. He wanted my opinion on what he may be doing wrong.

Damn I hate when people put you on the spot how the hec am I going to advise someone who’s probably making seven figures. So I just asked him what he does he said “oh, I just look at the top gainers every day and buy some of them.” Yup that’s his problem chasing shit coins. You would think someone who is obviously a smart dude would figure out quickly enough that’s how you get caught in rug pulls and hype.

I just told him unfortunately I’m not an expert or adviser but chasing green candles and hype usually doesn’t work out research things see what is either proven or has true promise more than just “going up at the moment.”

He did seem pretty amazed at possibilities to come in the realm of crypto got himself a nano for storage so hopefully he is just messing around with it see how it goes and when he is talking about being “down” it’s probably just chump change to someone like him but I know it can hit some almost like a gambling addiction I didn’t get that impression.
 
Observer
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I’d tell him to look to the long term future (if I told him anything at all), which is a picture getting clearer all the time. Buy it and forget it. Leave gambling to the pros. People who try to get rich only increase their chances of getting rekt.
 
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