I'd rather have someone who is in charge when the stuff hits the fan.
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My personal forecast is that one day it will all come crashing down in some huge hack / theft /scandal and we will wonder how it ever got as big as it did...
Edit: Just looked up this https://en.wikipedia.org/wiki/Cryptocurrency_and_crime
There have been many cases of bitcoin theft.[8] As of December 2017, around 980,000 bitcoins have been stolen from cryptocurrency exchanges.[9]
One type of theft involves a third party accessing the private key to a victim's bitcoin address,[10] or of an online wallet.[11] If the private key is stolen, all the bitcoins from the compromised address can be transferred. In that case, the network does not have any provisions to identify the thief, block further transactions of those stolen bitcoins, or return them to the legitimate owner.[12]
Theft also occurs at sites where bitcoins are used to purchase illicit goods. In late November 2013, an estimated $100 million in bitcoins were allegedly stolen from the online illicit goods marketplace Sheep Marketplace, which immediately closed.[13] Users tracked the coins as they were processed and converted to cash, but no funds were recovered and no culprits identified.[13] A different black market, Silk Road 2, stated that during a February 2014 hack, bitcoins valued at $2.7 million were taken from escrow accounts.[14]
Sites where users exchange bitcoins for cash or store them in "wallets" are also targets for theft. Inputs.io, an Australian wallet service, was hacked twice in October 2013 and lost more than $1 million in bitcoins.[15] GBL, a Chinese bitcoin trading platform, suddenly shut down on 26 October 2013; subscribers, unable to log in, lost up to $5 million worth of bitcoin.[16][17] In late February 2014 Mt. Gox, one of the largest virtual currency exchanges, filed for bankruptcy in Tokyo amid reports that bitcoins worth $350 million had been stolen.[18] Flexcoin, a bitcoin storage specialist based in Alberta, Canada, shut down in March 2014 after saying it discovered a theft of about $650,000 in bitcoins.[19] Poloniex, a digital currency exchange, reported in March 2014 that it lost bitcoins valued at around $50,000.[20] In January 2015 UK-based bitstamp, the third busiest bitcoin exchange globally, was hacked and $5 million in bitcoins were stolen.[21] February 2015 saw a Chinese exchange named BTER lose bitcoins worth nearly $2 million to hackers.[22]
A major bitcoin exchange, Bitfinex, was hacked and nearly 120,000 bitcoins (around $60M) was stolen in 2016. Bitfinex was forced to suspend its trading. The theft is the second largest bitcoin heist ever, dwarfed only by Mt. Gox theft in 2014. According to Forbes, "All of Bitfinex's customers,... will stand to lose money. The company has announced a cut of 36.067% across the board."[23] Following the hack the company refunded customers.[citation needed] On 6 December 2017, more than $60 million worth of bitcoin was stolen after a cyber attack hit the cryptocurrency-mining platform NiceHash. According to the CEO Marko Kobal and co-founder Sasa Coh, bitcoins worth US$64 million were stolen, although users have pointed to a bitcoin wallet which held 4,736.42 bitcoins, equivalent to $67 million.[24][25]
On May 7, 2019, hackers stole over 7000 Bitcoins from the Binance Cryptocurrency Exchange, at a value of over 40 million US dollars. Binance CEO Zhao Changpeng stated: "The hackers used a variety of techniques, including phishing, viruses and other attacks.... The hackers had the patience to wait, and execute well-orchestrated actions through multiple seemingly independent accounts at the most opportune time." [26]
Thefts have raised safety concerns. Charles Hayter, founder of digital currency comparison website CryptoCompare said, "It's a reminder of the fragility of the infrastructure in such a nascent industry."[27] According to the hearing of U.S. House of Representatives Committee on Small Business on April 2, 2014, "these vendors lack regulatory oversight, minimum capital standards and don't provide consumer protection against loss or theft."[28]
Roku now almost double the price we paid for it back at the start of December, this is nuts.
Credit card fraud in the US in 2018 alone was just shy of $10bn.
Looking forward to seeing bitcoin fanbois, who don't want government oversight, crying for the government to sort them out when the bubble bursts.
Bit like all those self employed people and company directors who loved playing games with the tax bills for years and then wanted all the help the government could give when Covid struck and their livelihoods were in trouble. Nope, can't have it both ways.
I know not everyone who is self employed or a company director fiddles their tax, but many do.
Organised crime will have moved over to zcash and monero.
The Bitcoin blockchain can be analysed by law enforcement and they have done so. Crooks in the know have got wise to it and moved on to the secure crypto options.
Crooks not in the know will be leaving a trail and that can be used to find them.
Every single large ransom demand over the past years, whether related to computer hacking or child abduction, has been in bitcoin.
No crypto does it better than the original.
https://twitter.com/nypost/status/13...247408135?s=20
Cannot keep my hands from SPACs at the moment. Buying CLA and CGRO.
It was how I got into bitcoin actually. My NAS got hacked with ransomware. Had to download the TOR browser and pay 0.6 bitcoin. This was 2014 so cost me £360 at the time. Had 0.1 BTC left over that was worth £40 so just left it in my wallet and ignored it for years. Now, I suppose I should thank the hacker!
Don’t get why the SPACs price moves around so much when there’s no news at all.
You’d imagine they’d sit at $10 until there’s a merger announced and then spike.
Is the movement based solely on rumours of a merger, or have the two that you mention above already agreed mergers?
They have both announced mergers already with two lidar manufacturers. Honestly, I don't understand why this isn't already being chased by the momentum crowd, as every serious (= non-Tesla) player in the self-driving car space has acknowledged that there is no way you can build self-driving cars without lidar. Add all the drone applications and you have a proper future market.
I think the mania will start as soon as they change tickers, which usually happens within days of the respective EGMs approving the merger. Both scheduled to happen during Q1/2021.
Sitting and waiting, and the shares trading up and down with general market sentiment, order flow and rumours. It's all part of the game.
TLRY had a good run state side for months another one I sold too early
28% of Americans bought GME, AMC or another meme stonk in January.
Wow.
https://finance.yahoo.com/amphtml/ne...213609595.html
It'd be interesting to know who, of the 28% made profit and who lost.
Seems what ever you chuck your money into stateside the only way is up..............
If anyone is with me in KPTI - just a heads-up that they will release earnings tomorrow before market opening. Might see some volatility either side of the closing price.
I think I will just hold and see what happens.
Just bought some GameStop for the fun of it. $53.00
TIGR has been another good one Raffe! Do you think there’s a bit more fuel in it still?
I stopped myself out of my SP500 futures position, it was within 20 points of my target price when the market suddenly collapsed. [emoji22]
Not a good idea to be too attached to those overlay positions as they exacerbate losses in the underlying long portfolio - so it had to go.
Anyone following my SPACs will have noticed that LEAP just leaped by $2 - nice.
Somewhat scathing piece from the FT with a first pass analysis on how the Bitcoin purchase will affect Tesla's accounting reports. (Headed with a cracking photo of the main man.)
Surely GameStop is only going down from here!
Must say I expected a bit more momentum, dropped to $48 minutes after I bought at $53 and $52. Still, managed to print an intra-day high of $62.83 afterwards, only to fall back to $53.
I can still see a dead-cat rally over the next couple of days, target anywhere between $70 and $100.
NAKD would have been the better choice, up by $0.30 (=25%) since I bought GME.
I'll confess I also bought some GME today at $51 per share. Only 66 shares so mo Lambos for now but there are still a load of diamond hands merchants so I'm expecting a 50% bounce.
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