Cryptocurrencies
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@antipodean Homeland Security confiscated his phone so he can't access his accounts
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Carnage out there in crypto land - US securities are talking regulation, while their IRS starts talking taxation leading up to the April 15 deadline.
Some platforms are budding to launch during the first half of this year. Will be interesting to see if they still get any momentum once the tax man has his say.
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@nta said in Cryptocurrencies:
Carnage out there in crypto land - US securities are talking regulation, while their IRS starts talking taxation leading up to the April 15 deadline.
Some platforms are budding to launch during the first half of this year. Will be interesting to see if they still get any momentum once the tax man has his say.
I hope you pulled the pin in time to take your winnings off the table mate
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@canefan what I had in there wasn't winning, so I just left it alone.
In fact, I've picked up a little more while the prices are shithouse. That way I only risk another handful of actual dollars, and might even pick up a few more if the magic internet dollars come good
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Things have come back a little toward the good in the NTA universe of crypto: a coin called Verge (XVG) recently did a crowdfund and got to their goal after some last minute push.
The idea was raising funds to help with marketing (which, TBH, they're shit at) and then developing a new partnership.
The partnership gets announced in a week, so the market on that coin today was up about 20%. The partnership is apparently a game-changer, but even if its not, the excitement is getting people moving on this coin.
I am about 60% of the way back to evens, and if this announcement comes through and the coin takes off, I'll be in rude profit. Going to be smarter this time, take out all the cash I've invested, and then play with house money.
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@nta said in Cryptocurrencies:
@jk in financial circles I suppose its something you need to keep an eye on. When people start bringing real-world uses that are demonstrably better than the status quo, it'll be interesting to see the response of regulators and institutions.
Yeah well been doing block chain related stuff for about 3 years now. There are definite benefits and with further efficiencies to come, things will only get better.
Regulators been slow to act here. A couple of guidance notes issued but nothing overly firm. And finally the IRD have stated their position re tax on crypto.
Much more to come...
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@nta said in Cryptocurrencies:
When people start bringing real-world uses that are demonstrably better than the status quo
Which isn't going to happen unless you can partner with a CC. Even then, what benefit is there? None. Crypto won't replace fiat.
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@antipodean fast, cross border transactions, with low fees would allow crypto to sit under fiat tho.
Contracts and trading speeds appear to be where the better proposals are running
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@nta said in Cryptocurrencies:
@antipodean fast, cross border transactions, with low fees would allow crypto to sit under fiat tho.
That technology already exists and is better than blockchain at doing it. I know this because I built some of it for one of the big four. International clearing houses only existed for this long because not enough consumers said we're tired of this bullshit
Contracts and trading speeds appear to be where the better proposals are running
The current high frequency trading infrastructure is better. Current blockchains don't scale well enough to compare.
Don't get me wrong, I like the technology and it definitely has its uses, some of which we still haven't worked out, but private coins replacing sovereign fiat it will never do.
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Elicited exactly the response I was expecting
But its a bit more serious than that: Pornhub isn't a payment platform as such, but Mindgeek (effectively parent of Pornhub and a few other sites like Brazzers) took something like 350M Euro last year. Everyone knows porn is big business. But once you understand who owns what, you realise just how big some of these are.
And Verge is designed to be a privacy protocol, so seems like a good fit.
The price yesterday got as high as 15c Aussie, but leading up to, and after, the announcement last night, there were big selloffs so its back to ~10c.
That's OK, because as things start to integrate we should see a rise (pun intended).
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