Forex/Cryptocurrency General Chit Chat Thread

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edwardZ

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Mr. Wood said:
Uncles and aunties make prataing great again!
All times in SST

Tue Aug 14
9:30am AUD NAB Business Confidence
2:00pm EUR German Prelim GDP q/q
4:30pm GBP Average Earnings Index 3m/y
GBP Claimant Count Change
GBP Unemployment Rate
5:00pm EUR Flash GDP q/q
EUR German ZEW Economic Sentiment
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some European news for liquidity later...watch your pairs :)
 
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hindsight

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CookieMonsta88 said:
Because these coins have no economic value, the first players are in BTC and gold, BTC and gold are similar, but the underlying security of its usage is, who has the most of it is king, otherwise it's really simply just a speculative vehicle. And the relationships between these are soft and flimsy, they arent gonna hold coz there is no true underlying economic value.
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Bitcoin usage has fallen off a cliff because transaction costs are too high and its too slow compared to other cashless payments like Visa/Mastercard, so if anything BTC is just as speculative as the other crypto currencies, its a bubble thats bound to burst at some point.

I don't think gold and BTC are similar at all, gold can be purchased in its physical form (usually as jewelry) and central banks around the world still keep a portion of their reserves as gold, the only thing they have in common is rarity, but rarity alone does not automatically make something a good store of value.
 
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CookieMonsta88

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havetheveryfun said:
they used to have more significant relationships as you could only use BTC to buy alt coins or sell alt coins into BTC

but now with the introduction of USDT, they do not have such a direct relationship to BTC anymore as ppl can buy or sell alt coins directly to dollars instead of BTC now
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Yep, what you indicated is exactly why the relationship is no longer held.
 
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CookieMonsta88

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hindsight said:
Bitcoin usage has fallen off a cliff because transaction costs are too high and its too slow compared to other cashless payments like Visa/Mastercard, so if anything BTC is just as speculative as the other crypto currencies, its a bubble thats bound to burst at some point.

I don't think gold and BTC are similar at all, gold can be purchased in its physical form (usually as jewelry) and central banks around the world still keep a portion of their reserves as gold, the only thing they have in common is rarity, but rarity alone does not automatically make something a good store of value.
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Yep, that is why BTC will always have a speculative nature, no government will want to use it if they have no effective control over it to prevent issues like currency war. Essentially anyone who hoard enough of BTC can control the entire thing. Also as you mentioned, the transaction cost is high.

So yea what you mentioned pretty much sums up why BTC can't replace gold/currencies. Because gold was there first and it's alot easier to safe guard a physical thing.
 
havetheveryfun

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Mr.Canberra said:
Only with EUR/CHF pair. No significant move with USD/CHF pair.

The flows into Forex are majority USD and then JPY.



This EM currencies rout is the warning shot only. This is how financial crises started. Mountain snow vibrated, start to snowball and then full blown avalanche. During 2008 GFC the stock market sell off lasted for one year until bottoming out around 2009.

Anyway up to individual. Your money, your call. If you have higher stakes like me you may execute plans differently. To me risk to reward ratio is not worth it now. Use $200 go and eat Din Tai Fung better. :s13:

You want to long TRY to gain swap? That is against the trend. Near, mid and long term!!! If someone hands me free money I will short TRY. This old extremist lunatic is going to be in charge for a long time unless someone or people power remove him. Also Trump will escalate tensions if opponent plays hard ball.

Initial margin has also increased for TRY and ZAR pairs.

I will not touch the cursed GBP and TRY.

Beginning of 7th Month Festival really give me one good one. 好兄弟 sibei ho! :D
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turkish lira goin back up again :s13:

is it a final bull trap to trap more retailers before going further down to 0 ? :s13:
 
Mr.Canberra

Mr.Canberra

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havetheveryfun said:
turkish lira goin back up again :s13:

is it a final bull trap to trap more retailers before going further down to 0 ? :s13:
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Every time this joker starts to talk the TRY will plunge. :s13:

Now start talking about boycotting American goods. :D

Frankly speaking if he just keeps his mouth shut at least TRY will stabilise.
 
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Mr. Wood

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Mr.Canberra said:
Every time this joker starts to talk the TRY will plunge. :s13:

Now start talking about boycotting American goods. :D

Frankly speaking if he just keeps his mouth shut at least TRY will stabilise.
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everyone talk about boycott America but no one got balls to do so. :s13:
 
Mr.Canberra

Mr.Canberra

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Mr. Wood said:
everyone talk about boycott America but no one got balls to do so. :s13:
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How to boycott USA when New York controls the SWIFT payment network? :s13:

If you do a legitimate business and once you tio ban by USA your business can up lorry liao. Proper businesses do not transact via Cryptos ok. :s13:
 
Mr. Wood

Mr. Wood

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Mr.Canberra said:
How to boycott USA when New York controls the SWIFT payment network? :s13:

If you do a legitimate business and once you tio ban by USA your business can up lorry liao. Proper businesses do not transact via Cryptos ok. :s13:
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dats why all NATO :s13:

emerging markets was the darling of fund managers. after they started selling em funds to retailers and this happen. :s13:
who say the market is not rigged?
 
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