Bitcoin price suddenly surges to 3-year high

[lexluthermiester]

Gaslighting, classic.

Not the first time you insist to be right with zero arguments either, so I didn't expect much from you other that to jump straight to trolling.

Ok, sure. Anything else? Or do you want to continue with the personal attacks?

 

[mtcn77]

Bitcoin has a few of the white collar workers here stressed. How befitting...

 

[64K]

While in general I can’t stand very much the crypto crowd (even though technically I’m part of it) I also can’t help but notice that there has been some heavy misinformation being spread around in the last few days. Seems like every morning there‘s a new “China crypto ban” or ”crackdown“, another word of choice news outlets love to use, which turns out to be not quite that. Markets move accordingly, of course.

How can you be technically be a part of it and not be a part of it at the same time?

 

[Final_Fighter]

Bitcoin is officially a new asset class: Goldman Sachs

Goldman Sachs makes the call: Cryptocurrency should now be considered an asset class.

finance.yahoo.com

 

[ZenZimZaliben]

Ok, sure. Anything else?

Let me try... IF the government is able to track and control crypto the way you want. Then the entire crypto market would crash world-wide and worse. This would mean the government has something capable of breaking the entirely encrypted, decentralized and anonymous blockchain and controlling it. You see it's not just the Currency that makes crypto so cool, it is actually the Block Chain ledger system that is even cooler and more powerful. The day the government can track and trace every transaction to an individual is the same day that Crypto and Digital Banking as a whole is corrupted and ruined. If our stupid government can do it then anyone out in the public will be able to as well, and we are now back to trading sea shells and shiny rocks for squirrel meat. Don't worry they are not even close to being able to do this and honestly they may never be able to.

 

[Chomiq]

You'll never get that 3090, just face the fact

I'd be happy with 3060 Ti but nowadays they match 3090's MSRP.

 

[trog100]

bitcoin is showing a nice steady rise up to 38K and eth a nice steady rise up to 2500..

nice and steady is good.. spikes not so good.. he he

purely my personnel opinion but i recon we are on the way up again.. the panic inducing fud is over..

trog

 

[64K]

Hell, I would be happy with a 3080.

 

[Hemmingstamp]

I'd be happy with 3060 Ti but nowadays they match 3090's MSRP.

No joy on getting one of those either. I made an enquiry at a few web stores and never got a reply. Probably thought I was mad even asking

 

[lexluthermiester]

Let me try... IF the government is able to track and control crypto the way you want. Then the entire crypto market would crash world-wide and worse. This would mean the government has something capable of breaking the entirely encrypted, decentralized and anonymous blockchain and controlling it. You see it's not just the Currency that makes crypto so cool, it is actually the Block Chain ledger system that is even cooler and more powerful. The day the government can track and trace every transaction to an individual is the same day that Crypto and Digital Banking as a whole is corrupted and ruined. If our stupid government can do it then anyone out in the public will be able to as well, and we are now back to trading sea shells and shiny rocks for squirrel meat. Don't worry they are not even close to being able to do this and honestly they may never be able to.

Ah, but your making it more complicated than it needs to be. The government doesn't need to track it all, just the transactions that come through the nation in question. Imposing regulations that require transactions to be declared and imposing strict penalties for violation is all that is needed. Governments don't need to track the cryptocoin itself, they can track the transactions that take place within their boarders by requiring all repositories to report transactions. This is how China is going to do it and there are no rules that restrict other governments, even the USA, from doing the same or similar. Anything that flies under the radar would be criminalized.

No financial institution will risk it's operations not complying.

Bitcoin is officially a new asset class: Goldman Sachs

Goldman Sachs makes the call: Cryptocurrency should now be considered an asset class.

finance.yahoo.com

Goldman Sachs is not a government entity. They have no authority to make such a call.

 

[ZenZimZaliben]

The government doesn't need to track it all, just the transactions that come through the nation in question. Imposing regulations that require transactions to be declared and imposing strict penalties for violation is all that is needed.

See that right there would break everything.

 

[lexluthermiester]

See that right there would break everything.

How so?

 

[ZenZimZaliben]

Because to Track Some you have to be able to Track All. The block chain is 1..entity and to be able to read some of it, means you can read all of it.

 

[phill]

Gaslighting, classic.

Not the first time you insist to be right with zero arguments either, so I didn't expect much from you other that to jump straight to trolling.

Ah, you're flame baiting. Gotcha.

Come on guys.... Be a little bit less, er, what's the PC term....... Catty?? If you both don't see eye to eye, put each other on ignore rather than waste a page of forum battling between each other...

Don't make me get Mr " @Solaris17 " Clamps in here clamping away.... Please be civil It's just Bitcoin...

 

[lexluthermiester]

Because to Track Some you have to be able to Track All. The block chain is 1..entity and to be able to read some of it, means you can read all of it.

You missed my point, the government doesn't need track the blockchain itself, they just have to track the transactions being made with it. Far easier and very doable task.

 

[ZenZimZaliben]

You missed my point, the government doesn't need track the blockchain itself, they just have to track the transactions being made with it. Far easier and very doable task.

No it's not. It's encrypted and decentralized. To be able to track transactions to an individual in a country at their house means breaking encryption and the block chain. Otherwise it's just random packets on the internet. You have to be able to man-in-the-middle every packet coming into a country and then decrypt every packet to see if it is blockchain, then decrypt the blockchain to trace to an individual.

ANY tracking and Idenifying of the blockchain means you have the ability to decrypt it in transit, which means you just broke crypto, blockchain and digital banking.

You might think it's easy, but it isn't at all. If you have a very secure house, but give the keys to a friend and say don't go in my bedroom, that's fine but they CAN still go in the bedroom if they want. Same thing. Once you can track/trace/identify blockchain you have the keys to house and I guarantee you will not stay out of the bedroom/blockchain.

 

[lexluthermiester]

No it's not. It's encrypted and decentralized.

You still have to use a financial institution of some kind at some point to "cash out" . So yes, it IS traceable.

ANY tracking and Idenifying of the blockchain means you have the ability to decrypt it in transit, which means you just broke crypto, blockchain and digital banking.

You're arguing a different point. I'm not saying OWNing cryptocoin can be tracked(though I'm VERY certain there is a way). I'm saying USING it can be tracked, very easily, especially if regulations require businesses to report such use. It becomes a trivial task if businesses report cryptocoin usage. Requiring such is itself a trivial task.

 

[thesmokingman]

China's starting to crackdown on all those miners in Greater Mongolia... there's goes 90% of btc's power.

 

[Hemmingstamp]

Up again it goes.....

 

[trog100]

eth is up 34% on the day and still rising... there is still a lot of buying power still lurking in there..

trog

 

[dorsetknob]

The US governement has treaties and agreements with nearly half of the nations of the world. So as a general rule, when the US government makes a law about something that has international implications, especially were finances and taxation is concerned, partner nations generally follow suit.

Anyone who Trades with USA will generally comply closely regarding US law except those that have both the political and financial clout to go their own way.
The USA is too big a market for others to ignore for many.

 

[Chomiq]

Up again it goes.....

Expect it to go down within the next 12 hours.

You don't need to be financial analyst to see the trend, you just have to look past the 24h period:

 

[Hemmingstamp]

Expect it to go down within the next 12 hours.

You don't need to be financial analyst to see the trend, you just have to look past the 24h period:

Maybe.....

I have live data but thanks all the same.
You still aint having that 3090 @ MSRP

 

[Vya Domus]

A function follows a trend until there's an inflection point, technical analysis is notorious for failing to predict these points precisely quite often since they are typically the result of an unpredictable event out in the world. But when they're not and many gang up with the same strategy and sell orders it tends to become a self fulfilling prophecy and many investors get burned at their own hands. This is in part explains why really bad crashes occur out of the blue.

What I'm saying is don't just watch the trends, they can be misleading.

 

[Hemmingstamp]

What I'm saying is don't just watch the trends, they can be misleading.

I don't. But Chomiq does.