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Messages - Faisal2202

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Bitcoin News & Updates / Re: CME Plans To Launch Spot Bitcoin Trading

« on: Today at 09:25:06 PM »

Quote from: Peter90 on May 17, 2024, 06:38:50 PM

CME trading - I guess - is more for institutions - companies -, not individuals.
Trading of one single bank can produce much more volume than 2.000 Faisals and Peters

Hy Peter I hope you are doing fine, thanks for giving me a heads up here, as I said I am not a user of CME but thanks for giving me a short tour now I understand the traffic of CME must not be counted if we want to compare CME with other tier 1 exchanges. BTW what's the minimum fund or assets or properties you need in order to open an account for spot trading in CME?

I read this article of Registration on CME the method to create an account ton CME is almost the same, but yeah you are right, to do trading we need multiple things, which I don't know what's the procedure to get them. (Trading procedure). I mean they ask for a clearing firm relationship, and etc. I guess Coinbase and Binance is better. Although considering this new information, I will say its a good thing that CME has allowed there investors or customers to do spot trading in BTC, it will definitely bring more money into BTC and demand will definitely increase.

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

« on: Today at 07:56:20 PM »

Quote from: TomPluz on Today at 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.

I am also not a user of Robinhood but recently saw a documentary video of it, like how two friends tried hard to raise funds for this, at first their motive was to give an exchange free of commissions, and the idea was so unique at that time, according to documentary, no such platform exists at that time, due to the uniqueness of idea, they were not getting any funds, but after trying again and again, they got it, and those investors not only give funds but made there idea more better by sharing more information.

And now I see this news, I am shocked to see from the start, they did not came up with such feature, although its a good thing that they did not, as you already aforementioned that, SEC don't go easy on staking based platforms. I think these Robinhood team is going very slow and steady and they can literally win the race as well.

News related to Crypto / Re: Two arrested for laundering $73 million in 'pig butchering' scheme

« on: Today at 07:51:09 PM »

Quote from: TomPluz on Today at 09:44:58 AM

This is my first time to encounter the "pig butchering" term for a scam involving fooling people to just send someone money and then run away with it. Well, the strategy is not something new but maybe the use of USDT in laundering the money can be a new twist. Now, these two sweet talking guys are now facing the full force brunt of the law for the things they did and I am wishing that all their victims will get the justice they all deserve. Let's see how many years these two crooked, evil personalities will be minting soon. Scammers are right now still having a feast and thanking heaven for the use of cryptocurrency but the law is watching them so they should be warned.

To be honest, the term "Pig Butchering" is also new to me, I was calling this scam phishing one till now, but did not know that, different methods have there unique names. Well, I like this name, although it did not suit best for the scam method, but still, its cools. Besides the cool name, I don't know how people can trust an unknown person and even send them your funds. This is definitely not a new thing.

Because till now I have read many such cases, where a victim first fished by these scammers, they either promise you huge returns or luxurious life, these people act a brokers, most people don't know how things works, so they give there money to these fake brokers, and end up a viticm of pig butchering. Its a great thing they have been captured, as with them other will also be captured, I hope the authorities will not go easy on them.

Bitcoin Forum / Re: Roger Ver has been arrested

« on: Today at 05:11:53 PM »

Quote from: NotATether on May 17, 2024, 08:13:53 AM

You have to pay a massive exit tax to renounce your American citizenship, so this is not viable except to really rich people who move to tax havens to keep their wealth (and they will not be allowed to enter the US again if tax evasion is the reason why they did that).

So, you are saying if a person moves to another city they have to tell the US official why they are going to a tax haven even if it's obvious to know or assume. Why would they not be welcome by them again? It's a little selfish well, if they are then they should not allow them to flee in such tax havens. Actually, this info is new for me as till now I have seen a lot of people using this facility and still, they are American citizens.

I think there is a need to pass the same bill as Oklahoma has approved. Besides, why would a person give up his status of US citizenship in order to go to tax havens he can also go there as a tourists or not?

News related to Crypto / Re: 90% of Ethereum, Tron, Solana Stablecoin Transactions Are ‘Inorgranic Activit...

« on: Today at 05:04:06 PM »

Quote from: ABCbits on May 15, 2024, 12:47:52 PM

I think we can make guess of their purpose by reading their blog post on https://usa.visa.com/visa-everywhere/blog/bdp/2024/04/24/making-sense-of-1713984605043.html. Visa wants to say stablecoin is still far from reaching Visa's volume.

Now it makes sense, +1 for you dude. Actually, I was confused because Visa is a financial infrastructure or platform providing financial services or allowing us to perform financial activities, it is not a currency so why they are comparing themselves with Fiat or Bitcoin? As Fiat and Bitcoin is a currency, assets or whatever a person call them. But they are not providing financial infrastructure there aim was not to? or is it?

That's why I asked the real purpose of this data, well, they made this dashboard with the help of Allium labs, which seems to me a good thing, as such things must need to be brought in front of our eyes, now with the help of this dashboard they can still remain in the third place. Nice move BTW.

Cryptocurrency discussions / Re: How much % of your assets are allocated to crypto?

« on: Today at 04:55:55 PM »

Quote from: dekafee79 on May 12, 2024, 02:54:51 AM

When investing, it's best to do it in lots of coins if you want to be successful in the crypto world. BTC is a favorite coin and safe to hold, but many altcoins make bigger profits than bitcoin. Everyone has their own analysis and strategy. Good luck

You are 100% right, diversification is the best strategy to minimize the risk as if one coin is going down, and all of your assets is invested in it, then you will feel more stress, even if you have invested with the funds that you don't care to lose (the most famous quote we all used to say to each other 😋) So to minimize the risk and increase the ROI I moved some of my funds into alts. But as I said not so very happy with this plan as I invested in some tokens at some good point but end up a victim of a fud and sold some good assets for instance Near I bought it at 1.75 maybe and since that point it has been trading at $7 or near it.

This is just a one example, I made some mistakes so I think I should not blame alts for that 😁😂. I am still investing in some tokens but the amount which I care not to lose. But to be very honest many tokens are so under value at the moment that they look so true to be invested (so good to be true).

Basic Questions about Cryptos / Re: Are Bitcoins a good investment?

« on: Today at 04:48:54 PM »

Quote from: MrSpasybo on May 12, 2024, 12:00:13 AM

I think only short-term investors care too much about price fluctuations and temporary losses with BTC. For long-term investors, willing to hold BTC for 2 years or more, all they need to care about is the main trend of BTC: uptrend or downtrend, bullrun or bearsleep. BTC is a special asset in this market: BTC has continuously set new ATHs in the past cycles, meaning that as long as investors hold BTC long enough, they will make a profit. Therefore, we always hear that: have BTC in crypto portfolio to ensure safety and profit in the future. For me, this is still true, especially during the market recovery phase: BTC.D rising means that BTC's price performance is better than most ALTS in the market. So: don't throw BTC from our portfolio!

I can't agree more with you, I then started to invest in BTC my only goal was to become a holder but they are the ones who have plans to hold for more than 3 to 4 years, but my accumulation is from 2023, so I should not call myself a holder yet, but my main plan was to make money also, so that's why I planned to book profit at $32k and at $72k.

But end up missing the opportunity to buy again, although I did not planned to sell all, as I planned to book half of the seed profit I have made, as my plan is to withdraw the funds I invested from the pocket and only hold the amount of BTC I have made in profit to minimize the risk and stress. But I guess that's not a thing in crypto haha. Well, still waiting for the ATH of this bull season. What you think can BTC make it to the $100k?

Bitcoin Forum / Re: Halving - Do you still believe in the previous pattern?

« on: Today at 04:29:34 PM »

Quote from: bayu7adi on May 11, 2024, 09:29:03 AM

Therefore, I am even sure that some people feel motivated by the brightness of Bitcoin in the future considering that this seems to be a special encouragement for people who have felt a little loss recently. I also have the same belief as you, where predictions based on history cannot be 100% accurate, but at least this gives us another view that there is a few percent possibility of historical data becoming a benchmark again because we always see ATH always related to the Bitcoin halving.

You are right, this prediction if not 100% accurate but at least they give us some idea or hope that this could happen, or there is a slight chance of it to happen. I have a bad history with charts like these, i.e when I was a newbie and did not have good knowledge of crypto, I took these charts for granted and thought that, its already been happened in 2016 (in this case) and chart is making the same pattern again, if I would be a newbie today, I would even say the pattern was noticed on Monday in 2016 and its also noticed on Monday in 2024 haha.

Well, that's why I added we should not take these charts for granted, so if any newbie would be reading my post will know that.

Quote from: bayu7adi on May 11, 2024, 09:29:03 AM

As @Lucius said, we must be prepared for unexpected circumstances. The ETF ahead of the halving did change the pattern a bit, but we still don't see much in terms of future surprises. Keep our eyes on the market and also several news portals to get updates regarding Bitcoin movements.

Yeah, market's behavior is 50% depends on the mindset of the holders and investors, so if we are keeping patience and belief in the market that if will follow the same patterns as before, like ATH/Bull Run after the halving then it will repeat that pattern again in this cycle too.

Basic Questions about Cryptos / Re: [GUIDE] What are Crypto Airdrops?

« on: Today at 03:32:51 PM »

Quote from: Paldo.io on May 11, 2024, 02:49:25 AM

Not really lol I wouldn't be recommending these airdrops if there was a higher chance of losing money (e.g. Tensor, etc). 90%+ of the LP airdrops listed on Paldo.io are lending-based and inverse-traders PnL from PERPs, not AMM-LP based as you're describing.

Yeah, I see that now, BTW its a good thing you know well about airdrops and only bring the ones that have the most potential. I know its secret but what's your method to outsource these airdrops, I have joined multiple telegram groups and I pick the airdrops from there, do you use the same method or use icoanalytics to see the latest investments or seed funding on new or old projects. If you don't mind to share your own experience in this airdrop hunting time.

Quote from: Paldo.io on May 11, 2024, 02:49:25 AM

Most of the liquidity-based airdrops are using a point system simply because it's the best way to track progress.

Point system is not new, its very old and of course very effective to see the involvement of the users and assess the reward given to them on the basis of these points. I am into airdrops from January or the end of December maybe before that, these platforms calculating reward on the basis of volume or other factors, but points are also calculated on the basis of volume or other factors.

Bitcoin Forum / Re: Why do people panic and sell their bitcoin when it falls in value?

« on: May 17, 2024, 09:21:58 PM »

Quote from: NikeFit_7777 on May 10, 2024, 09:57:33 AM

P.S. What do you think about news like this? Do you take them seriously? Don't you think we are being manipulated by such a method?

They are really obfuscating people's BTC via this method, they are waiting for the right moment or waiting for the right spot to catch people on, once they find a mistake that people are making, they suddenly opens a case against them, and seize there accounts. They are doing it from a long time, the fun is they are still holding onto most of the funds they have seized yet.

I think they are playing the bigger game here, I think they also trust the potential of BTC and must be believing that BTC can make then way more than that they are holding right now or obfuscating right now. We should really take events like these seriously and consider to take proper action to save ourselves, the new legislation that oklahomo has approved is a big steps against such method used by authorities.

Bitcoin Forum / Re: BTC and ETH ETFs approved by the Hong Kong Securities and Futures Commission

« on: May 17, 2024, 09:18:05 PM »

Quote from: Ambatman on April 15, 2024, 09:32:51 AM

The effect is already showing on the price Now. Volatility currently is wow. People already buying the news, with that fall of Saturday I think we should be seeing a new ATH anytime soon. But with all this the threat of Israel retaliation is around the corner though not happening anytime soon but the possibility is nerve wracking.

You are saying people are buying the news, but TBH I did not think people really did, although the stats also show the same you should read my last post it was also on the same topic where the OP shared some stats that shows all the hype was just a bubble although I shared my POV that I did not raised any hopes that's why I was no disappointed from the downtrend caused by this event.

As this news did not brought too much volume. I don't think that the approval of ETF from HK will play a big role in acheinving ATH for BTC. Speaking of war it really plays an important role as it can cause big dump if war happens. Besides it BTC is not fully prepared for the flight yet, I think we need more volume and more adoption, considering this factor we can count the HK ETFs but still not play a big role, we need something big, maybe something from Elon twitter handle (IYKYK).

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

« on: May 17, 2024, 09:08:07 PM »

Quote from: Stanlosky on April 30, 2024, 03:46:44 PM

Spot ETFs allow investors to take exposure to cryptocurrency without having to own it. They are considered a better option than futures-based ETFs, which are subject to rollover costs.

Thanks for sharing this data with us, the reasons of the lesser volume in compared to USA ETFs are a lot, first the market of the US is bigger, they are the first who approve the ETF, so all eyes were on them. More eyes means more trading volume. Plus the hype was so much and I don't think people even knew about HK ETFs until they see the news that they have been approved.

If you were in the market from the start of this ETF drama, then you must have known the emotions of people and what they were thinking, assuming from BTC ETFs. I don't disappoint from this event, as I was not linked any hopes with them. I knew the hype is over, and market of HK has no match with the US one, that's why I did not hoped.

Bitcoin Forum / Re: The anti-mixer arm of Congress

« on: May 17, 2024, 07:43:30 PM »

You say the bill they are trying to pass is already dead in the water, but I don't think that's actually happened, I mean SEC, DOJ, and other authorities are keeping an eye on all mixers, they are studying them, seizing them, not doubt they are doing the good stuff by keeping an eye on these mixers, because people using, promoting, building them, don't want to be a part of something that fakes everything, (means that fakes its real purpose of ML).

So for the wise adoption of the BTC and crypto overall, such steps are welcomed by me, but speaking of this particular legislation so-called as dead, I don't really think it is, or maybe it has given a purpose to authorities to keep an eye on all the mixer possible. They are doing everything to hold onto something so that they can seize another one. The points discussed in the quoted post, are valid that its quite hard to pick the infected tx from the last 2 years, although not impossible.

Bitcoin Forum / Re: Focus on knowledge, build up belief, then investment plan, success will come.

« on: May 17, 2024, 07:30:30 PM »

Quote from: tranthidung on April 18, 2024, 07:04:38 PM

People say Bitcoin is too volatile but see the chart, and discover that Gold gets a correction about 40% and it needs about 10 years to have another bull run.

I did not know before that a bull run takes 10 years to come for Gold, that's a lot of time, but still, people prefer it. I can't agree more with you on the fact that there is less luck and more knowledge, but OP I was once a newbie, everybody was, and I have read many confessions from newbies that, they said, they get lucky with their BTC investments. Some say, their relatives or friends near them ask them to buy BTC, and at the time they bought they did not have any knowledge but were still able to make a profit.

Just because those who invested in the bear market, are in profit right now, and those who bought near $73k are in loss right now. The time of buying the assets is the most important thing, and that knowledge comes with proper time spent in the market.

Urdu (Pakistan) / Re: Sab Sy Zyada Karma Hasil Karny Waly Top 100 Members Ki List

« on: May 17, 2024, 07:10:43 PM »

Quote from: msz900 on May 03, 2024, 07:04:41 AM

Originally Karma kis based pr milty hy? koi specific contribution?

Orginally karma contribution base pr milty hain, contribution mtlb kisi ko helping reply dy diya, kisi ki kisi problem my help kr di, log kafi questions pouchty hain unko jawab diya. is ky ilawa, agr kisi ny koi post ki us my koi mistake nazar ai to wo mention kr di, bhr hal, main maqsad yeh hai ky sirf senior members hi karma dy skty hain. Or ap ny koshish krni hai, ky ap asy contribute krain ky log apko hs kr karma dain.

Achi achi contribution krain new postain bna kr like jo helping ho chahy technical ho ya koi achi news ho, lekin kisi kism ki gurantee nhi hain, ky asa krny sy apko karma milain gy ya nhi. As yeh hr bndy ki apni marzi hai ky apko karma dy ya nhi. Baki karma milty rhty hain zayda active rhain, bs autmatically contribution hoti rhni.