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Messages - TomPluz

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News related to Crypto / Russia prepares for total crypto ban

« on: Today at 01:55:44 PM »

After China banned cryptocurrency years ago, I think we can be facing the same development in Russia which is supposedly a good market for cryptocurrency but because the government in Kremlin is not so friendly with it there had been some skirmishes against the industry players based in Russia and now this news that restriction will finally be imposed except digital financial assets issued in Russian jurisdiction starting in September 2024.

"Russia will enforce a strict ban on the general circulation of crypto assets such as Bitcoin, allowing only digital financial assets issued within its jurisdiction. This initiative, led by Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market, is part of a broader governmental effort to control the crypto ecosystem amid rising geopolitical tensions.
Aksakov stated that the forthcoming legislation aims to restrict non-Russian crypto operations to reinforce the ruble’s dominance."

Read more here: https://cryptobriefing.com/russia-crypto-ban-reinforce-ruble/

Though this is truly sad news, I would say that this development will not anymore have any impact with cryptocurrency in general as I think the market has had already discounted Russia and China years ago. Do you agree with me?

News related to Crypto / Re: Binance founder Changpeng Zhao sentenced to four months in prison

« on: Today at 01:44:50 PM »

I am very sympathetic to CZ on his case in USA and I was actually sad of learning that he is facing some possible jail time...now when the sentence finally came there is a big sigh of relief that it is just actually just four months. Of course, there can be some other penalties included that can affect how he can do business in USA however the most important thing is that CZ is not getting what SBF received. I am sure that the whole cryptocurrency industry is rejoicing with this bittersweet moment of CZ though, of course, we believe that the case should have never brought on against this pioneering figure that contributed a lot to the industry's development.

Bitcoin News & Updates / Re: Roger arrested

« on: Today at 01:35:25 PM »

This is a surprising turn of events of Roger Ver, one of the few people who really benefitted a lot in owning and subsequently selling BTC in its pioneering years and is very much known to be leading his own Bitcoin Cash (BCH), first of the Bitcoin forks. Arrested in Spain, the man is facing mail fraud, tax evasion and filing false tax returns alleged to have caused a loss to the IRS of at least $48 million. So right now, we are seeing a barrage of many cases against people who worked and made money in the cryptocurrency industry. Lat year, we witnessed the fall of FTX and later on the 25-year sentence of Sam Bankman-Friend and then Changpeng Zhao just got four months of prison terms for violating US money-laundering laws when Binance allowed transactions circling on child sex abuse, the illegal drug trade and ‘terrorism’. This case on Roger Ver is worth watching and let's wait how many months or years will he get as a sentence. I am just wondering if there is really a coordinated movement by the US government to go after people in cryptocurrency.

Bitcoin Forum / Re: Bitcoin Slips Under $62K as Hong Kong ETFs Disappoint

« on: Today at 01:11:50 PM »

So far, it is quite clear that ETFs for Bitcoin in any other country than USA failed to really make the market moves for BTC. Even before the approval and operation of ETFs in USA, there were already other countries that started their own ETFs but just like the recently opened Hong Kong market, they are not considered to be big players in the market all because of minuscule business volume, unlike the one we witnessed in USA. What is clear to me right now is that ETFs in USA is now becoming a major direct influencer for the price of Bitcoin in the global market and we can see how it can be affecting the asset in the next many years...where its ups and downs are inextricably linked to each other. Will there are those who assumed that ETFs in Hong Kong can be of big help for Bitcoin in terms of pushing demand, what happened is the opposite where its lackluster performance somewhat contribute to further weakening of the price of Bitcoin.

Bitcoin Forum / Re: Has the bear market started?

« on: Today at 12:59:55 PM »

Quote from: Power420 on Today at 12:26:50 PM

Do you think we are headed for a bitcoin bull market or a bear market?

Right now, BTC is at $57K and I would say that this is a dramatic fall as it was more than $60K some days ago. I am in fact quite surprised by this weakening stance of Bitcoin and I am sure that we can expect some further deterioration of its price as the market sentiment is now enveloped by a big bearish mood. Now, can we say that we are already in the bearish market? I would not speculate on that but judging by the coin's performance for the past many days, I think we are witnessing the return of the bear though it does not mean that the bull is already out as there can also be a big chance that the market will be reversing in a moment. The weakening of Bitcoin is happening partly due to the continuing outflows in ETFs so unless there can be a new direction in the market, most probably we can see BTC going backward as low as $40K...and that is something I dread and should not happen.

Cryptocurrency discussions / Re: Again, Don't Ignore Security

« on: Today at 12:43:12 PM »

Quote from: Joseph Lee on April 30, 2024, 03:22:15 PM

These measures may seem elementary, yet it is astounding how easily they can be disregarded when one is fixated on chasing the "next 100x" gain.

Honestly speaking, the cryptocurrency industry has become the hotbed of innovations as well as scams and frauds...and we are witnessing it almost everyday when we heard of news of this platform and that site hacked and millions of dollars worth of assets were stolen - some were recovered while many were not. Sad to say, this industry is really representative of the phrase and the idea of the "fruit of both good and evil." We know that the blockchain and cryptocurrency can be the next step for humanity most especially when it comes to money, finance, banking and here we are talking of empowering people to decide their future right on their fingertips but there are so many dangers around with twisted people all fantasizing and planning to steal as many coins and tokens as they can and bringing chaos and havoc to many victims. With the new technology comes the very risk of being exposed to frauds with the aim to steal from platforms and people their digital assets. And it is so vital that we must be on our toe in making sure everything is secure so these evil people will not have any chance to get to us. Certainly, there is no point of experiencing the next x100 gains if one day they will all be gone to someone else we never authorized.

News related to Crypto / Hong Kong Bitcoin and Ether ETFs tough debut on first-day trading

« on: April 30, 2024, 12:15:33 PM »

Quote

Bitcoin and Ethereum spot ETFs began trading in Hong Kong, but day-one trading volumes were a fraction of those recorded in the United States in January 2024.

Bitcoin and Ethereum exchange-traded funds (ETFs) finally hit Hong Kong markets, but trading volumes suggest that the launch of Bitcoin ETFs in the United States set an exceptionally high bar to match.

The six new crypto ETFs' total trading volume at the closing bell on day one in Hong Kong was 87.58 million Hong Kong dollars ($12 million). This number pales in comparison to the first-day trading volume of U.S. Bitcoin ETFs, which was valued at $4.6 billion.

News related to Crypto / MircoStrategy’s Bitcoin Holdings Surge to $13.5B

« on: April 30, 2024, 12:11:16 PM »

Quote

MicroStrategy, often dubbed a prominent “Bitcoin development firm” has once again garnered attention following its financial update for Q1 2024. Despite reporting a net loss of $53.1 million, the firm remains steadfast in its pursuit of acquiring Bitcoin, further expanding its already significant cryptocurrency holdings.

Between April 1 and April 26, MicroStrategy went on to add a whopping 122 BTC to its reserves. This was worth $7.8 million. While this figure might be pale compared to previous purchases, it symbolizes MicroStrategy’s unwavering dedication to strengthening its Bitcoin portfolio. This comes amidst turbulent market conditions.

Cryptocurrency Trading / MOVED: ATH of bitcoin 2025 ??

« on: April 30, 2024, 12:04:15 PM »

This topic has been moved to Bitcoin Forum.

https://www.altcoinstalks.com/index.php?topic=316201.0

General Discussion / Re: Face reality

« on: April 30, 2024, 12:01:18 PM »

In my own understanding, facing reality means assessing ourselves in the light of our capabilities and potential, the resources at our disposal and the support that we can get from our family and loves ones as well as the community...all towards making our vision into the future come true. Without objectively analyzing what we got and what we lack, we can just be daydreaming which is one way to make our dreams stay as dreams and not one day be a big reality. Life is hard...and this is true whether one can be poor or even rich and we need to make sure we are all ready to roll the sleeves and even do some burdensome loads so we can carry ourselves to where we envision to be. As we know, we always look up to successful people most especially those who are already popular and we can learn many things on their rise and how they overcome many things to arrive at where they are now. Of course, getting there is never easy but will always be doable since we already have pioneers in different fields telling us that we can do it too.

Cryptocurrency discussions / Re: Is there still going to be a bull run?

« on: April 30, 2024, 10:44:22 AM »

Quote from: Fivestar4everMVP on April 30, 2024, 12:41:34 AM

"hi bud, is there still going to be a bull run this year?" I am as well putting out the same question out here for the community, is there still going to be a bull run this year? Or should we just pack our bags and go home? 😬😁

We are not going home...because we are already home! I can understand why you are hesitant to tell 'YES" to that guy's inquiry for the possibility of a bull run and it is because even if we can see some precedents in the history of Bitcoin this is a very unpredictable asset and anything can happen into the future. Based on what I know, the real bull run will be happening after the halving and not before it. So the next concern is whether the bull run we just witnessed before the halving is already the one or should we wait for another one. Now, humans as we are, it would be so difficult to predict the future and that is why whatever we are thinking can just be speculations, at best. the best thing to do then is to continually invest with Bitcoin most especially if there is a dip in the market and just wait and see for what may come.

Random Crypto Giveaway / Airdrop / Re: [FREE RAFFLE] - Custom UniJoin Card, (#15)!

« on: April 29, 2024, 08:24:56 AM »

3 - TomPluz

NFTs & Collectibles / Re: NFT thoughts

« on: April 28, 2024, 07:11:11 AM »

Quote from: LogitechMouse on March 30, 2024, 05:38:38 PM

I believe that there are some investors who learned from their mistakes investing into some JPEGs and JPGs that has no actual value at all. Yes, we are in a bull market, and like other projects, NFTs might get some hype as well, but not the same as the last time.

I am sure that for some NFTs to really shine and get the limelight in the next few months. there must be enough level of hypes and FOMO circling around particular NFTs and there must be new investors that should be convinced and buy the story that soon what they can buy will be skyrocket in value and they can get as much ROI as possible. Without hypes and new buyers, nothing will happen with the market. While recognizing that there are NFTs that can be so valuable and will remain profitable in the market, I think 99% of them are just worthless. In fact, in between NFTs and memecoins, I would prefer the latter. Memecoins done right and with enough support of its own community of supporters can have more chances of making it big in the crypto market. Still, I would rather invest with proven coins on the top list of CMC.

Bitcoin Forum / Re: The 134th reason why you should not use Wasabi Wallet.

« on: April 28, 2024, 06:49:06 AM »

Quote from: yhiaali3 on April 28, 2024, 06:23:28 AM

I have a feeling that there is no real decentralization anywhere.

I am sure that we in the cryptocurrency industry will be facing this issue more and more as years will pass and the more that crypto will be going into the mainstream population. The more that crypto will be popular, the more we might learn that decentralization is going to be redefined in ways we don't want to agree with. And the way I am seeing it is that there are two big factors here: the people behind the platform specifically in question and the continuing push of the government to retain control and influence everything its eyes lay on. The first factor is very unfortunate as it is nuking the very fabric of the platform and the level of trust and confidence the users bestowed on them. Decentralization is at the central of all things cryptocurrency and of the blockchain...without decentralization then we are just dealing with the usual stuffs. I am really wondering if there can a time when decentralization is something that we could not anymore enjoy and that people will be forced to accept that reality, otherwise be on the path of the government and its legal overreach.

Bitcoin Forum / Re: Phoenix Wallet to be removed from US app stores

« on: April 28, 2024, 06:19:58 AM »

Quote from: Mr. Magkaisa on April 28, 2024, 06:03:42 AM

This is not good for us crypto believers, to be honest. Everything that is of no use to the US government is actually being dispatched because they want to benefit themselves and don't care if it helps the citizens under their jurisdiction or not.

A move like this is not good for the cryptocurrency industry and the many small users of this particular wallet in question. This is what we are getting when the government is exerting its legal and regulatory power to run after platforms and people whom it think is doing something against the law. And when you are just a small developer, you would naturally get nervous of the things that can happen to you in case a case can be filed in court just like what recently happened with Samourai Wallet where its two founders are facing money laundering raps. After after this Phoenix Wallet story, I am there can be more and many of them will either be closing down or shrinking their operation to avoid the lawfare waged by the government on privacy-protecting platforms that can hinder them from looking at all the things people are into. After the saga of Bitcoin Fog, Tornado Cash, Samourai Wallet, we are witnessing this development in Phoenix Wallet where its wings are clipped to effectively make it an inutile one.