The Bitcoin (BTC) thread

Coja Petrus Uscan

Hummingbird
Gold Member

Molyneux has some good retorts to Captain Industry (Bill Maher)'s comments.


So are you saying BTC will be cratering soon? Is this a buying opportunity?

I have been looking for BTC to track down to around 30-35% dominance and then bounce back. This is mirroring 2017 activity, which is being fairly consistently followed this year. That would take us to the ballpark of $37K.


@wayfaringstranger - Interesting angle. For those who are interested you can import private keys into SafePal hardware wallets, which is probably the safest thing to do. My trust in any wallet provider is waning. The SafePal is airgapped. No need to ever connect it to a networked device.

My main query regarding the powers that be is regarding central banks. Some banks have either blacklisted crypto financial services and/or retail purchases. I think a good edge on this is that investment banks are driven by the greed of making money doing nothing. They are now wanting to get it. Commercial banks have nothing to gain from it, so it is no wonder some have moved against crypto. But it doesn't seem Western central banks have taken any action against crypto.
 

Coja Petrus Uscan

Hummingbird
Gold Member
Live Chart Link:

Do you have any of these prepared from ETH, BNB or others?
 

Deepdiver

Crow
Gold Member
Molyneux has some good retorts to Captain Industry (Bill Maher)'s comments.




I have been looking for BTC to track down to around 30-35% dominance and then bounce back. This is mirroring 2017 activity, which is being fairly consistently followed this year. That would take us to the ballpark of $37K.


@wayfaringstranger - Interesting angle. For those who are interested you can import private keys into SafePal hardware wallets, which is probably the safest thing to do. My trust in any wallet provider is waning. The SafePal is airgapped. No need to ever connect it to a networked device.

My main query regarding the powers that be is regarding central banks. Some banks have either blacklisted crypto financial services and/or retail purchases. I think a good edge on this is that investment banks are driven by the greed of making money doing nothing. They are now wanting to get it. Commercial banks have nothing to gain from it, so it is no wonder some have moved against crypto. But it doesn't seem Western central banks have taken any action against crypto.
Do you have any of these prepared from ETH, BNB or others?
i will do an ETH and BNB charts later this week and post them in the Crypto Lounge thread as this thread is for BTC.
 

budoslavic

Owl
Gold Member

Bitcoin is coming to hundreds of U.S. banks this year, says crypto custody firm NYDIG​

  • For the first time, customers of some U.S. banks will soon be able to buy, hold and sell bitcoin through their existing accounts, according to crypto custody firm NYDIG.
  • Banks are asking for bitcoin because they can see their customers sending dollars to Coinbase and other crypto exchanges, according to Yan Zhao, president of NYDIG.
  • After rolling out the initial bitcoin product, NYDIG plans on other services, including debit card rewards paid in bitcoin, and a new type of bank account that is FDIC insured, but pays interest in bitcoin, he said.
Bitcoin may be taking another step towards mainstream adoption, CNBC has learned.

For the first time, customers of some U.S. banks will soon be able to buy, hold and sell bitcoin through their existing accounts, according to crypto custody firm NYDIG.

The company, a subsidiary of $10 billion New York-based asset manager Stone Ridge, has partnered with fintech giant Fidelity National Information Services (FIS) to enable U.S. banks to offer bitcoin in the coming months, according to the two firms.

Hundreds of banks are already enrolled in the program, according to Patrick Sells, head of bank solutions at NYDIG. While the firm is in discussions with some of the biggest U.S. banks, many of the lenders that have agreed to participate are smaller institutions like Suncrest, a California-based community bank with seven branches.

“What we’re doing is making it simple for everyday Americans and corporations to be able to buy bitcoin through their existing bank relationships,” Sells said. “If I’m using my mobile application to do all of my banking, now I have the ability to buy, sell and hold bitcoin.”

Until now, bitcoin adopters have relied on apps from a new generation of fintech players like free trading brokerage Robinhood, payments giants PayPal and Square, or crypto-centric firms like Coinbase. Banks, on the other hand, have steered clear of bitcoin for retail customers, only recently announcing plans to allow rich wealth management clients to be able to wager on the cryptocurrency.

But banks are now asking for bitcoin because they can see their customers sending dollars to Coinbase and other crypto exchanges, according to Yan Zhao, president of NYDIG.

“This is not just the banks thinking that their clients want bitcoin, they’re saying `We need to do this, because we see the data,’” Zhao said. “They’re seeing deposits going to the Coinbases and Galaxies and Krakens of the world.”

Peer pressure

As hundreds of smaller banks sign on, giants like JPMorgan Chase and Bank of America could face pressure to offer crypto to their retail banking customers, according to Rob Lee, head of digital banking at FIS.

In March, Morgan Stanley was first among banks to offer bitcoin funds to its clients, CNBC reported last month. Goldman Sachs quickly followed with an announcement of its own, and JPMorgan is reportedly looking at its own product in conjunction with NYDIG.

But in those cases, banks have relegated bitcoin to ultra-high net worth individuals and family offices with tens of millions of dollars.

“Most people can’t invest in things that institutional investors get to invest in,” Zhao said. “With bitcoin available through your bank to be purchased with as little as $1, now you have an attractive asset that’s available to be owned by anyone in any amount. We think that’s huge for economic empowerment.”

While FIS, which is a vendor to banks with nearly 300 million checking accounts, will handle the link to lenders, NYDIG will take care of bitcoin custody and trade execution. Disclosures will make it clear that it is NYDIG, and not the banks, that handles the bitcoin, and the cryptocurrency won’t be FDIC-insured, according to Zhao.

FIS, based in Jacksonville, Florida, caters to banks, providing access to services like chatbots or Apple Pay. It’s also a heavyweight in the payments industry, and two years ago bought processor Worldpay for $35 billion in the sector’s biggest acquisition to date.

Banks will determine how much to charge their customers for bitcoin trades and will retain most of that fee revenue, according to Sells. After rolling out the initial bitcoin product, NYDIG plans on other services, including debit card rewards paid in bitcoin, and a new type of bank account that is FDIC insured, but pays interest in bitcoin, he said.

More people would own bitcoin if they could do so through their existing banks, according to a survey commissioned by NYDIG. That allows them a single view of their financial assets and avoids the need to sign up with another institution and fund the account with a money transfer that typically takes three to five business days.
 
My main query regarding the powers that be is regarding central banks. Some banks have either blacklisted crypto financial services and/or retail purchases. I think a good edge on this is that investment banks are driven by the greed of making money doing nothing. They are now wanting to get it. Commercial banks have nothing to gain from it, so it is no wonder some have moved against crypto.
as it becomes an alternative currency, and cutting payment processing fees and decentralizing control- basically you don't need state (private bank really) controlled fiat currency- they will start to get very greedy and very nervous.

I am sure brighter minds than me have thought of this but:
a. to be a bookkeeper requires processing power -it is currently decentralized but some clusters (mining) have emerged.
b. as i understand it a ledger is 'voted on' based on the most bookeepers (?)

- so in this case central banks colluding with mega server farms like AWS, and controlling/throttling bandwidth - could corner the ledger market and thus gain control or have undue influence on BTC - they have the capital and influence to dwarf whatever bookkeepers out there are using now.
and of course determining market price they can do with mega buys and sells as well.....
 

Deepdiver

Crow
Gold Member
Is this the wrong link?
Oooops Right Thread Wrong Page see bottom page 67 of the Crypto Lounge Thread...

 

Cervantes

Woodpecker
Why is Bitcoin trending sideways and Ethereum rocketing?

Because smart money is buying Bitcoin, but the even smarter money is selling Bitcoin and buying Ethereum.
 
When the EIP 1559 hype dies down, it'll likely be the opposite.
I used to think Monero or something might supplant BTC, (and something may at some point.) But I see the war on stateless money coming very soon, and BTC is like the Battlestar Galactica. XMR, ETH, all other legit projects, are the Vipers. We need them to help draw in more money and interest in the concept of stateless money, and some of them may blow up, but if the Cylons are able to nuke and destroy the BSG, that could be a generational setback.
If the cockroach Bitcoin doesn't succeed, that would be bad.
 
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