Looks like the Libra project is on the verge of falling apart. After Paypal announced their exit from the project last week, today's news is that Mastercard, Visa, eBay, Stripe and Mercado Pago are also jumping ship.
Five companies, led by Mastercard, Visa and eBay, pulled out of Facebook’s planned digital currency Libra on Friday, following sustained political pressure and just days before the project’s backers are due to meet for their first board meeting. The exit of Visa, Mastercard, eBay, Stripe and Mercado Pago came as a major blow to Facebook’s ambitions to shake up the global payments market and follows one week after PayPal announced it was also pulling out of the project. The withdrawals follow intense scrutiny from international regulators and politicians, some of which have called for the project to be halted altogether, citing money laundering concerns and worries about wider financial stability.
FT link
Someone who lies about the little things will lie about the big things too.
Just picked up this thread. Any QuadrigaCX investors here? The guy lived about 200 yards from me... I think his widow is still living here. I would have thought there would be a standardized protocol used / required that would allow at least one other person access to accounts instead of just one bloke memorizing a few passwords ....
Satoshi has made it onto the latest OED new words list. Credibility doesn't come much stronger than that. Buy, buy, buy...
Any OneCoin investors here?
In The Missing Cryptoqueen, Jamie Bartlett investigates the woman behind OneCoin, a scheme which managed to persuade investors around the world to part with as much as £4bn ($4.9bn). They had bought into the compelling vision of a new kind of money sold by Dr Ruja Ignatova, in a series of events in countries around the world. You can catch a flavour of the mixture of hoopla, hucksterism and blockchain balderdash in a video of her appearance at London's Wembley Arena in 2016. Dr Ignatova - or Dr Ruja to her fans - walks on to "This Girl is on Fire", tells an excited crowd that OneCoin is on course to overtake Bitcoin, and derides "all those Mickey Mouse coins that have copied our concept." Plenty of people were convinced, including one of the stars of the podcast, Jen McAdam from Glasgow. She invested €10,000 herself in the Bulgaria-based scheme and persuaded family members to put in €250,000 - that's about £220,000 at current exchange rates.
But in 2017, Dr Ruja Ignatova disappeared - and she hasn't been seen since. The investigation by the team behind the podcast has uncovered just how successful OneCoin had been in spreading its message around the world. Internal documents reveal that people in 175 countries invested, with much of the money coming in a six-month period in 2016 when Dr Ruja was on a global tour - including that Wembley appearance. In the UK, £26m was invested in that period, and the podcast team reckons that the total coming from British investors may have been as high as £96m.
BBC
Someone who lies about the little things will lie about the big things too.
Lol, that's fantastic.
Someone who lies about the little things will lie about the big things too.
love that song/video.
Good to hear Libra appears to be coming apart at the seams, the Zuck/Fbook are just not fit and proper entity to be trusted anywhere near 'currency'.
C'mon, you can do it, too:
How I got sucked into the cryptocurrency craze and walked away with $13 million
On a gray morning in May 2016, I left my office in downtown San Francisco and walked down Montgomery Street, to Wells Fargo. I swiveled open the two gigantic doors, walked up to the counter, and explained to the teller that I needed to send a money wire to Gemini Trust Company, LLC., a cryptocurrency exchange based in New York City. “Certainly,” she said. “How much will you be sending today, Mr. Conway?” “One hundred thousand dollars.”
My voice sped up as I said it: $100k. This represented my family’s entire life savings. It was money my wife and I planned to use to pay for our 3 kids’ college tuition, our eventual retirement, and emergency expenses. I was a middle-aged guy with a family who had never been on the cutting edge of anything. But I was about to bet everything I had on an unproven virtual currency called Ethereum. This could only end two ways: I’d lose everything I owned, or make a fortune.
(...) Unfortunately, it wasn’t long before I experienced the Earth-shaking volatility of the crypto market. In June 2016, a high-visibility project was hacked and Ethereum tanked: By December, our original $100k investment was worth less than $40k. Though I was $60k in the hole, my confidence in Ethereum was stronger than ever… and it was now at a bargain-basement-level price. So, I decided to double down. We didn’t have the cash. The only pool of funds available was the line of credit on our home. Racking up a big debt on our home equity line would very likely set us up for an unhappy ending. But I felt in my bones that this was my shot and I might not get another one.
In December of 2016, I visited Wells Fargo 3 times, transferring an increasing amount of money from our home equity line to Gemini. After each transfer, I went home and bought ETH slowly so I didn’t cause a run-up. (The order books were thin with limited liquidity in those days; a rush of sales could cause the other traders and their bots to snatch up all the available coins.) That winter, I borrowed $200k on my home and used it to buy more ETH. I now owned 26,750 ETH total, at an average buy-in of $11.21/coin. And I was $300k in the hole.
(...) I watched the price climb to $915. Then, over the course of two hours, I sold 11k ETH, the majority of my remaining stack, for $10m.
(...) I banked everything I had on a relatively unproven technology and got out at the right time. For every story like mine, there are hundreds of others about people who lost it all. I know that could’ve easily been me. At the same time, I’m no blackjack player. My investment wasn’t purely a blind gamble that came up aces. I was, and am, a true believer in crypto — and I had the right mix of courageousness and craziness to take a big risk.
The Hustle
Well then, now you know. You can thank me later (I'll take a very reasonable 5% of your gains).
Someone who lies about the little things will lie about the big things too.
I'm afraid I find the below story hard to believe - it reads like something that was made up to convince people to invest in crypto.
Some find it through religion.
https://www.huffingtonpost.co.uk/ent...b0eb0ef22b13d8
"Crypto-traders", Rolex watches, Boris Johnson, a church which holds its services at the The Valley and a pastor called George Jumbo. What else could you possibly ask for? (There's even Louboutin shoes in there too.)
Agreed. 99% sure that’ll be 99% BS.
And what an absolute moron, to risk his whole family’s life savings and house (!) on a total gamble. Idiot.
If you feel that your Rolex watches are a bit financially exposed at the moment, then how about this Franck Muller?
BTC up around 25% this year - well timed entries can yield epic returns, just super risky compared to other asset classes.
Anyone else "investing" or "trading" Crypto at the moment?
nope - just HODL still since a couple of years ago, floating around at about break even.
Make sure you don't forget to declare that profit, because they know where you are. Well, they hope they will before long anyway - https://www.contractsfinder.service....3636cf2f82?p=1
I bought some ETH, the ass dropped out of it literally a few days later... couldn’t have timed it worse Hahahaha.
Holding on to them for now... God loves a trier!
Sent from my iPhone using Tapatalk
Last edited by T1ckT0ck; 21st January 2020 at 21:55.
How's it goin' for the hodlers? Long and strong?
Because they soon won't be making (m)any more - https://www.bitcoinblockhalf.com/
Whilst John McAfee's second statement may be open to some debate, I believe that the first will find considerable consensus.
Never Ever invest in anything or comment on something you don’t fully understand..
Sent from my iPhone using Tapatalk
bump - what's happened in the last 24hrs?
10%+......10%- .....Just a regular day in the crazy world of BTC, isn’t it?
For the previous Bitcoin buyers here...I am thinking of getting into Bitcoin in a small way (maybe couple of grand ish) can any users point to a stable and safe platform / exchanges to buy Bitcoin recently? Thanks
...
Last edited by studly; 16th July 2020 at 01:10.
See if I get this right: total market cap is 13 Mio USD, of which about 20% (= USD 2.6m) is held by the general public.
So how many hundreds do you own? Rich anytime soon?
Best of luck mate.
I will never understand why cryptocurrencies are expected to show super-high value increase if the main design property is document authentification or some such. Yes, scarcity is part of the security design, but why do I have to expose myself to this volatility if all I want is to document a contract?
Similarities to Tesla, where I think we have now firmly established that the product is the shares, not the cars?
Well, on Friday BTC closed within 1% of where it closed when vgc posted on 14 June.
It traded about 4% higher over this weekend, which takes extremely small volume to achieve, so before you celebrate that I would wait for tomorrow.
And maybe you could enlighten me what it is that is 'expected to happen in the coming weeks'?
Someone who lies about the little things will lie about the big things too.
One hypothesis - containing 'two main reasons'.
Not holding Bitcoin, not planning to celebrate anything - what made you think I was?
As for what is 'expected to happen' - no idea - just a lot of noise around at the moment re: a rally, per petethegeek 's post above. The last line of my post may have given away I am none the wiser, hence the question around speculation or news or facts or...
Last edited by cman; 26th July 2020 at 17:06.
Someone who lies about the little things will lie about the big things too.
I'd say the simultaneous slump of altcoins is a strong hint that there is market manipulation going on. Suppose somebody bought it up in order to sell to expected stops above 10,000. Nice job on a weekend. We will see over the next days of there is any follow through buying or if it collapses from here.
Oh, and the article confuses long and short positions.
Someone who lies about the little things will lie about the big things too.
Did you click through to Joseph's summary cv by any chance?