Cryptocurrency Chat

Not sure how I missed this at the time, but found it rather interesting.

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Koda cryptocurrency made more news :grin:

Fiat top up made from :monzo:

Article includes some info on current state of FCA registrations. It’s a fairly long article, so hopefully ok to quote a small excerpt…

The cryptocurrency industry and the way it is marketed is not regulated by the FCA, which means buyers are not protected if things go wrong, but since January last year crypto firms need to register with the authority to prove that they meet anti-money laundering rules…
The FCA has identified 218 firms that “appear to be carrying on crypto asset activity” but are not registered. This is not an exhaustive list, the regulator said. The FCA has rejected authorisation for 126 firms wishing to offer crypto services…
There are a further 63 crypto firms listed by the FCA that have been registered or granted temporary permission to continue offering services while the regulator assesses their application for authorisation. Any firm wishing to continue offering crypto services in the UK must register with the regulator by the end of March.

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Hope so :grimacing::bar_chart:

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Experts were unable to make a “convincing case” for why the UK needs digital currency.

Maybe there are some people in our government who know what they’re doing after all :laughing:

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I wouldn’t like this regardless. That would probably cause more problems than it solves too.

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What a huge surprise :sweat_smile: They seem to have come to the same obvious conclusion as most people that structural instability in financial markets isn’t a good thing to trade off for possible slight convenience.

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Would a CBDC even be considered cryptocurrency?
Presumably it would be centralised and not even pseudo-anonymous.

This isn’t a rhetorical question - I haven’t properly wrapped my head around CBDCs yet so interested in hearing views.

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In my opinion it would effectively be a centralised stablecoin. It would act just the same except you could potentially pay fractions of a pence rather than within the 100p.

It would hardly cause instability as it would be controlled by the Bank of England and they would have as much control as the Royal Mint has control of the current UK coin supply, if not more.

If it was floated separately to Pound Sterling, that could be interesting but I would highly doubt it. One of the points a Central Bank would want to introduce it would be control.

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Curious to know what everyone’s biggest holdings are? Mine are:

  • CRO
  • ONE
  • VET

Looking to add Solana to the portfolio too, depending on the price action. :smile:

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At this point:

  • ETH2
  • BTC
  • ALGO
  • ADA

Currently earning a little interest on ETH2 and ALGO, which is nice.

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Nice, I used to hold Cardano initally bought in the 25-30p range and sold at £1.50, it’s another one on my list that I’ll buy if it drops and then I’ll Stake it on Kraken.

Having some good price movement today :+1:

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My biggest holdings :bar_chart:

AMP
ADA
XRP
VET
Shib
HOT

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Announcement is about plans to strengthen rules on crypto ads, but what I found most interesting were the pretty positive comments from Rishi Sunak about crypto space in general:

Cryptoassets can provide exciting new opportunities, offering people new ways to transact and invest – but it’s important that consumers are not being sold products with misleading claims … We are ensuring consumers are protected, while also supporting innovation of the cryptoasset market.

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So is now a good time to get started in bitcoin and ethereum, or do you guys think crash will continue? Thinking of putting in £200, probably in Revolut, just as i have an account already.

No one knows

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Very good answer as with any investments lol