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Messages - TomPluz

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News related to Crypto / Brazil crypto regulatory framework coming by end of year

« on: Today at 02:19:16 AM »

Taken from here!

Quote

The Central Bank of Brazil said Monday it will unveil a regulatory framework for cryptocurrencies by the end of this year.

Brazil’s central monetary authority said in a statement Monday that the development of its crypto regulatory framework will be divided into several phases. The staged rollout effectively delays the South American country's plans to regulate its burgeoning digital assets industry, a move that would provide much-needed clarity to token creators and virtual asset service providers (VASP).

Brazil has been ramping up its push toward regulating crypto in the past two years. In 2022, the country's lawmakers passed a law granting the Central Bank of Brazil authority over digital asset regulation. Last December, banking officials launched a public consultation on the matter.

This is a big good news for many Brazilians who are into cryptocurrency and for firms who are doing crypto-related business in the country and can also be attracting new players from other countries to come to Brazil. I am hoping that Brazil can be a model country who recognized the pivotal role cryptocurrency can be playing for the nation's progress. Right now, more and more Latin American countries are looking at how they can have a stake in the cryptocurrency industry and make it a big and helping hand to millions of people facing the force of poverty and economic challenges. With revenue in the cryptocurrencies market is projected to reach US$1,094.0m in 2024 and user penetration will be 21.29% in 2024 and is expected to hit 24.77% by 2028, there is definitely a big potential for more growth in Brazil. Do you see Brazil to become a powerhouse market for cryptocurrency in the coming years?

News related to Crypto / SEC is asking for amended 19b-4 filings for spot Ethereum ETFs

« on: Today at 02:05:09 AM »

Quote

Firms looking to list and trade shares of spot ether exchange-traded funds are being asked by the U.S. Securities and Exchange Commission to update and refile documents that are pivotal if those products were to be approved, according to news reports.

Those filings, called Form 19b-4, are filed to let the SEC know about a proposed rule change and are among the documents that need the agency's greenlight before spot ether ETFs can become effective.

The outlook for a spot ether ETF has taken an optimistic turn. Bloomberg ETF analysts James Seyffart and Eric Balchunas now say that the chances of the SEC approving such a product have increased from 25% to 75%.

Get more details here!

I am sure that this is a very positive development for the eventual approval of Ethereum ETFs in the market. The past months seem to be a little bit gloomy to the idea of its approval, yet now we are seeing some rays of light and that is why analysts put the chance for the approval at 75%. Of course, there is no definite way of determining if and when the approval can be...we don't know if SEC will decide on it come 2025 as the presidential election is nearing. The most important thing for now is that there is that big hope that ETFs will really be materializing for Ethereum soon, just like the big success of Bitcoin ETFs in the market.

News related to Crypto / Re: Nigerian Securities Regulator: Crypto Exchanges Complying With Naira Delisting

« on: Today at 01:57:35 AM »

What is happening in the cryptocurrency industry in Nigeria especially concerning cryptocurrency exchanges and its native currency Naira can be worth watching as I am sure we can be learning many lessons in here. I understand that there will no more be P2P so Nigerians may have a hard time to convert their digital assets to Naira...a situation that can directly hit the people who are into crypto. I am watching what can be the creative ways to get around with this development and if this can "kill" the fledging cryptocurrency industry in that African country. Now, instead of the government appreciating that people are getting involved with crypto, they assessed that it is a tool that undermined the country's currency. Since, the government made sure all crypto exchanges are complying, let's see if Naira will appreciate in value, otherwise it would be clear that the Nigerian government can just be delusional.

News related to Crypto / Re: Peter Brandt Says Peter Schiff Criticizes Bitcoin to Attract Attention

« on: Today at 01:47:47 AM »

I think that Peter Brandt is correct in his assessment that Peter Schiff is doing things - attacking Bitcoin - for his own gains and nothing really more. I really don't understand why he would continue to make Bitcoin bad when the asset has had proven itself to be strong, viable and am sure will be here today and into the future. There is nothing wrong with gold, either and if one prefers to invest on that then that is fine with me...just like what Robert Kiyosaki is advocating: investing with gold, silver and Bitcoin. There is no need to destroy one to make the other stand out. Of course, there are many risks with Bitcoin but for those who believed on it in the past are now smiling to the bank, as BTC made performance so astounding even compared to gold. Peter Schiff is just wasting his time convincing others that Bitcoin is not good as it is already approved by the mainstream financial system with the introduction of ETFs months ago.

Basic Questions about Cryptos / Re: Bitcoin Votality

« on: May 19, 2024, 05:14:33 AM »

Quote from: Dr.Bitcoin_Strange on April 18, 2024, 09:43:36 PM

Bitcoin's Volatility could actually be turned to your own advantage of you master the act of HODLing for a very longtime, even when the market experiences some shocking DIPs, that's the easiest way you can actually reap the actual reward bitcoin has to offer.

I don't think Bitcoin will be as famous today if there is no volatility attached to it. We have to remember that volatility can mean the asset can go up or go down in no time at all...and we have to understand that within volatility there is always that opportunity to make money and traders know and fully grasp this concept and they are taking advantage of it. Now, if Bitcoin has been running like gold, I don't think there can be more people to get interested with it as an asset as right now Bitcoin definitely is more popular than gold (though gold is way so above in marketcap). The most important thing to do is to continue investing with Bitcoin and then hold for a long time...so take advantage if there is an obvious dip in the market and be a winner years from now.

Cryptocurrency discussions / Re: What's the best NFT utility you've ever seen?

« on: May 19, 2024, 05:02:51 AM »

Quote from: Joseph Lee on May 17, 2024, 02:31:55 PM

Curious to know which ones you've found most interesting since you started dealing with NFTs.

I am not actually a big fan of NFT as I find less value with them and I think the market is agreeing with me as NFT sales is down these past few months even if Bitcoin and other coins experienced some good run...in fact it is memecoins that got benefitted with the bull run before the halving. And it can be because most of the NFTs lack utility cases...and unlike real art like paintings that you can display for others to stare and appreciate, NFTs is another category. I am looking though for innovations on this front so that it would also be making big and skyrocketing showing in the coming months. I heard that NFT can very much be used for land titling or an authenticated certificate identifying the owner and can even make sale of the same a lot easier since it would be recorded in the blockchain and can be viewed by anyone...protecting the owner's rights and safeguarding from anyone attempting to tamper with its authenticity. I think this is one area NFT can be made more useful.

Cryptocurrency discussions / Re: The impact of crypto on our lives

« on: May 19, 2024, 04:52:24 AM »

Quote from: IvugeoEvolutionCoin on May 18, 2024, 09:59:26 AM

Quote from: luckyledger on May 17, 2024, 05:01:42 PM
Yeah, crypto gives a lot of opportunities. It also allowed to many people earn much more than average wage in their country, so it is a great thing that was invented, but also a lot of scams exists, so be careful!
Cryptocurrency helps those who want to earn extra money, but for those who don't want to put effort into cryptocurrency, they won't get anything. It all depends on the efforts we make. When we fight hard we will definitely get maximum results.

I think they can just be hodlers or just buy some good coins or tokens and forget them for some years...viola am sure they would be happy one day to see the value of their assets gone to the moon. Of course, one has to be careful on what coins to get into so the best bet will always be BTC, ETH or even SOL and some of the top coins in CMC. Now, this strategy involves some capital as we are not anymore in the faucet and airdrop era of Bitcoin - this can be the drawback for many who don't want to put the effort so they must have the money to buy the coins. However, compare to just depositing the money in the bank, this can be a lot better and can make someone financially free years after investing.

Cryptocurrency discussions / Would you buy TRUMP?

« on: May 19, 2024, 04:44:02 AM »

Well, this is just another memecoin centered on Donald J. Trump, the 45th president of the United States and is now the presumptive Republicans presidential nominee running against the current president Joseph Robinette Biden Jr (unless he is replaced by someone else due to his obvious dementia and lack of energy).

Just recently, TRUMP coin surges over 100% in a month which is really amazing and made many holders of the asset smiling to the bank. Right now, the price of TRUMP is $8.41 and with DJT leading many polls compared to Biden, there is a big chance this coin will continue on escalating in price and of course if Trump will win in November there can be a very dramatic rise of TRUMP in the market.

Now, am sure that TRUMP is attracting support mostly from the people who are conservative and many of them can be supporters of TRUMP but then again if you are looking with something that has the potential for more growth this can be a good option - though risks will always be there, of course.

Bitcoin News & Updates / Re: China's Largest Funds Apply For Spot Bitcoin ETF In Hong Kong

« on: May 19, 2024, 04:22:17 AM »

Quote from: Peter90 on April 11, 2024, 10:31:21 AM

The move reflects growing institutional interest despite China's previous hostility towards Bitcoin. Harvest Fund manages over $230 billion in total assets, while Southern Fund oversees over $280 billion.

Of course, it was only the government of China that banned Bitcoin and the rest of the cryptocurrency industry that is not really interested with Bitcoin and cryptocurrency...the people and many financial institutions are so into Bitcoin and they were actually upset with the ban yet there is nothing they can do with it as they fear the dictatorial power of the current regime. Go against the wishes of the government and soon you can find yourself either in a hot water or in the middle of the ocean swimming with no boat to rescue you. Now, there is now a new opportunity for them to enter Bitcoin again though indirectly vis the ETF approved in Hong Kong but they could not get involved directly hence the use of linked subsidiaries can be necessary. I am not sure though if the China government will not be reacting to this badly if they could find one day that many are now into Bitcoin ETF in Hong Kong.

Bitcoin News & Updates / Re: BTPI Launches Study on Bitcoin’s Impact on Financial Freedom in Authoritarian...

« on: May 19, 2024, 04:07:02 AM »

This can be a good study to find out how people under an oppressive governments are and can be using Bitcoin to help them in their financial goals. Maybe they should also go into the details on how people in these countries are able to get into Bitcoin and how they gonna be converting them into their national currency since am sure there can be restrictions on popular cryptocurrency exchanges operating overseas to enter their countries. I am looking forward to see and read the final outcome of this research. As an empowering tool for the people, there can be things we need to know more on how people are taking advantage of Bitcoin actually not just on the financial side but on showing people they can get away from the control of the people who are supposed to be serving them, in the first place.

News related to Crypto / Re: Robinhood Launches Its First Crypto Staking Product

« on: May 18, 2024, 05:19:41 PM »

I am not so familiar with Robinhood but I am aware that this now a very popular exchange platform and from time to time find its way into news be it positive or negative. I used to have its app in my phone but I deleted it since I understand it got no legal standing here in my country. Now, I am sure that its staking program can be a good opportunity for many to enter and make more money compared to traditional investment vehicles. Since it is launching in Europe, I can see that it can be purposely avoiding the USA market so as not to entangle itself with SEC who see staking programs as selling securities. At any rate, good luck to Robinhood.

General Discussion / Re: Reason why people do not believe in mining

« on: May 18, 2024, 05:12:53 PM »

I am sure OP is referring here to mining coins in computer or smartphone and which is so much different than say mining Bitcoin or any other cryptocurrency with the use of sophisticated and expensive equipment. Now, I am also into mining using my smartphone and I already made some money with one of the oldest mining opportunities and it is still ongoing right now. Yes, it is true that there are so many scammers and frauds in this type of mining business and I witnessed many of them most especially those who made their add just for the purpose of playing advertisements...the developers made the money but the miners don't because the project is lousy and will never make it to exchanges. We have to be careful as this can be a time waster, in the first place. I understand that there is also a risk of a malware attack here which can gather our necessary details and can even compromise our digital wallets.

General Discussion / Re: The Profitable Side of Telegram App Engagements

« on: May 18, 2024, 04:54:50 PM »

Quote from: BattleAxe1 on May 17, 2024, 12:54:49 PM

Apart from tapping to mine crypto gaming tokens, are there other profitable engagements one can be involved with on Telegram that can help boost earning an extra income? I'll be glad to read your recommendations.

I am sure there will be more ways than one that Telegram can be use profitably. Notcoin really opened the Pandora's box and I know that there can be more coming as success in the field of cryptocurrency will surely be gaining more and more copycats hoping to also ride on the trend. Now, I am so curious if Telegram can be used in conjunction with WEb3 or should be already consider Telegram to be a part of the Web3 movement. However, in my own opinion, as far as a communication or messenger tool I am not so much impressed with Telegram, the same thing with Discord. I still prefer Facebook groups for the same purpose.

General Discussion / Re: Why crypto?

« on: May 18, 2024, 04:47:59 PM »

Quote from: Daiana on May 14, 2024, 12:56:41 AM

When, how, and why did you get involved in crypto? Is it because of earning some cash with trading or because of a job? Or do you believe it is the next big thing?

I started getting involved with cryptocurrency many years ago and I think I should have been rich right now because at that time BTC was just around $500...alas many things went wrong and here I am still looking for my proverbial pot of gold. I believe bought my first 2 BTC all because I used it to join money-scheme programs (that later on turned to be all dead) and it was then easier to use BTC for those programs. At that time, I had no real idea what cryptocurrency is and the many things it stands for. Later on as I got educated on it, I learned that Bitcoin came about into existence because of the distrust of the government and the usual financial institutions that failed to work for the people. Now, I am seeing that Bitcoin is the top cryptocurrency and is now recognized by Wall Street as an asset just like gold and that many traditional finance firms are getting into it. Bitcoin should be the best alternative to fiat money and it is empowering the people to decide their own destiny away from the power and control of the government.

Bitcoin News & Updates / Re: Over 50,000 Traders Liquidated as Bitcoin Price Surges Past $66,000 Amid Bullish

« on: May 18, 2024, 10:24:57 AM »

Well, these traders betted on the wrong side of Bitcoin and so they were liquidated but no worries I am sure they can still make a good comeback and bet again and who knows BTC can be friendlier to them next time around. Bitcoin surged to $66K the past days and is right now standing at $67K which is actually a little bit surprising to many, even me including. Now, we are seeing one of the most important attribute of Bitcoin and it of course its famous volatile nature...it can go down and it can go up without a notice anytime. And this all makes trading in Bitcoin really so exciting.