Can we have a non-hate mail vs fanboy thread on trading Bitcoin?
invite response
2022 Mar 12, 4:27pm 22,308 views 189 comments
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182
Bitcoin
2022 May 3, 11:39am
Bitcoin
2022 May 3, 11:39am
Patrick, thats exactly the reason why Crypto is so powerful. The government cant touch it.
https://finbold.com/canadian-police-block-over-30-crypto-wallets-associated-with-the-freedom-convoy-truckers/?source=patrick.net
"However, while the authorities are keen to seize any funds associated with the Freedom Convoy, it is likely that this digital currency is outside the grasp of the government of Canada, assuming the funds are housed outside of an authorized Canadian cryptocurrency exchange."
The headline you posted can obviously be misleading because "crackdown" simply means the government can only force REGULATED EXCHANGES IN CANADA to do what the government wants. You can still send crypto to those addresses. You simply would have to do it via exchange or app thats not controlled by the canadian government.
Governments can freeze bank accounts. They cant freeze crypto addresses. Thats the power of crypto!
https://finbold.com/canadian-police-block-over-30-crypto-wallets-associated-with-the-freedom-convoy-truckers/?source=patrick.net
"However, while the authorities are keen to seize any funds associated with the Freedom Convoy, it is likely that this digital currency is outside the grasp of the government of Canada, assuming the funds are housed outside of an authorized Canadian cryptocurrency exchange."
The headline you posted can obviously be misleading because "crackdown" simply means the government can only force REGULATED EXCHANGES IN CANADA to do what the government wants. You can still send crypto to those addresses. You simply would have to do it via exchange or app thats not controlled by the canadian government.
Governments can freeze bank accounts. They cant freeze crypto addresses. Thats the power of crypto!
184
Bitcoin
2022 May 4, 11:06am
Bitcoin
2022 May 4, 11:06am
Patrick says
If you have a frozen bank account you cant transact against it
If you have a bitcoin address that is flagged by your local exchanges due to government targeting your address, then you have these options:
Its likely that the government will be tracking any movements on those wallet addresses. So simply moving the crypto from the flagged addresses to new addresses and from there to your local regulated exchanges wont work because they can easily track this.
What you could do is move the crypto to a non-regulated exchange. from there you wont be able to cash out in your country because non-regulated exchanges cannot do crypto to local currency trades. However, you can trade the crypto against a privacy coin on that non-regulated exchange. The privacy coin is much harder to track or even impossible. You can then trade back to say ETH or whatever and move that from a non-flagged address to your regulated exchange.
Or you could buy large ticket items from a privat seller. Buy a car with bitcoin, etc. Question is if the seller accepts that. He might get in trouble if he cashes out and they find out the BTC originated from a flagged address.
Or open up an exchange overseas and cash out to their local currency. I doubt certain countries care about the Canadian Government flagging your address.
How do you get cash out of Bitcoin then?
If you have a frozen bank account you cant transact against it
If you have a bitcoin address that is flagged by your local exchanges due to government targeting your address, then you have these options:
Its likely that the government will be tracking any movements on those wallet addresses. So simply moving the crypto from the flagged addresses to new addresses and from there to your local regulated exchanges wont work because they can easily track this.
What you could do is move the crypto to a non-regulated exchange. from there you wont be able to cash out in your country because non-regulated exchanges cannot do crypto to local currency trades. However, you can trade the crypto against a privacy coin on that non-regulated exchange. The privacy coin is much harder to track or even impossible. You can then trade back to say ETH or whatever and move that from a non-flagged address to your regulated exchange.
Or you could buy large ticket items from a privat seller. Buy a car with bitcoin, etc. Question is if the seller accepts that. He might get in trouble if he cashes out and they find out the BTC originated from a flagged address.
Or open up an exchange overseas and cash out to their local currency. I doubt certain countries care about the Canadian Government flagging your address.
185
clambo
2022 May 9, 11:57am
I feel the pain of the guys who loaded up on BTC at $69,000.
"Why did it go down?"
Who knows?
"Why did it go up?"
Nobody knows.
"What exactly is it?"
"You're too lazy to learn about it!"
"Why did it go down?"
Who knows?
"Why did it go up?"
Nobody knows.
"What exactly is it?"
"You're too lazy to learn about it!"
186
Rin
2022 May 10, 3:21pm
Rin
2022 May 10, 3:21pm
Rin says
As predicted, the Rus2K broke down & bitcoin went home.
I got +$4/share, getting out in the week between the Rus price breakdown and bitcoin's.
Keeping an eye on the Rus2K "holding its ground", as a barometer for the general market meltdown (or not), it's time for bitcoin to either go big or go home.
As predicted, the Rus2K broke down & bitcoin went home.
I got +$4/share, getting out in the week between the Rus price breakdown and bitcoin's.
188
just_passing_through
2022 May 10, 9:52pm
just_passing_through
2022 May 10, 9:52pm
I haven't seen anyone post about Terra yet. The loss of the peg is a pretty big deal and affected the other cryptos.
189
Cash
2022 May 11, 8:41am
@DooDahMan
Do you have to post all of every fuxxking article you glance at? Please learn to paraphrase a bit of the article, share "your own thoughts if you actually have any" and then share the link like 99.9% of the other Patnet'rs do.
Do you have to post all of every fuxxking article you glance at? Please learn to paraphrase a bit of the article, share "your own thoughts if you actually have any" and then share the link like 99.9% of the other Patnet'rs do.
« First « Previous Comments 182 - 189 of 189 Search these comments
Let me make a comparison to a more mature market.
The following is a multi-year chart of the EUR vs USD, with the 50 bar exponential moving average (EMA) as the indicator on the chart. As anyone can observe, when the spot price is above the 50 EMA, there are more bullish trading opportunities (in green) than below it. And when it's below the 50 EMA, bearish events (in red) tend to be more common.
Now, contrast the above with that of BITCOIN vs USD. Whenever the 50 EMA is tested, the bearish opportunities are sparse and really don't even given bonafide short sellers much time to maneuver w/o a near term rally taking 'em out.
All and all, that's a bullish market with a high amount of sentiment on the upside. So until we see a general overall market meltdown, I'm not calling curtains on the cryptos.