FX

BioRobotTch

Algorand are supporting third parties to build the stablecoins & exchanges required for on chain FX. There are already several stablecoins. Algorand has native atomic swaps which are perfect for FX exchange so the Herstatt risk is eliminated. There are a few interesting projects building things which may enable more on chain FX by adding more stablecoin usecases. Immersve + Pera Wallet + Mastercard are enabling stablecoins to be used to make mastercard payments. Some mainnet transactions for USDC have already been seen. Public live is expected soon. The way Immersve have built their smart contracts will allow them to extend to other stablecoins. I can see EURC being the next one due to the Eurozone having relatively clear regulation about how to handle stablecoins in the MiCA legislation. Immersve have said public payments in the eurozone will be available this year. The UN + Circle + Hesabpay. Is one that intrigues me. Hesab pay was a phone based payment system serving Afghanistan originallty used by the UN to distribute aid payments. This was seen as a success and now many payments for goods and services can be made. The UN consider it a success and now plan to roll it out to Afghanistan, Yemen, Syria, Libya, Sudan and Somalia. I am not sure how closely Circle are involved maybe they plan to use USDC instead of a Hesabpay created stablecoin for these geographies where the monetry systems can be complex. In Yemen for example only coins/notes created before 2017 are accepted in the north but all are accepted in the south. There are crypto based lending platforms like Folks Finance and CompX too where decent returns can be made on USD and Euro stablecoins. As the stablecoins variety currencies increases FX will naturally increase too. It will give customers a cheaper alternative to highstreet currency exchange with lower fees and spreads.

BTC-100k

FWITW, this is not true. Since this is BTC -> BTC without FX, it would be comparable to a wire transfer in the same currency. That would cost a company ~$10 USD to send, and the receiving business would be charged about ~$5 USD by their bank. If it were individuals, that number would probably be ~$45 USD to send, and the person receiving it would be charged ~$20 USD. The other downside of being 100x more costly overall is that the wire would take 3-7 days to settle versus minutes to hours, depending on desired block confidence.

Shaglock

My portfolio values in local currency is down 10% due to USD being massacred. Whelp I hope crypto gains will rockets far beyond the FX losses, fml.

BioRobotTch

Considering how high fees and spreads are on FX for consumers I am sure there will soon be a mass migration to on chain trading for many people wanting to swap USD/EUR. Will be useful for many crossing the Atlantic for business or pleasure.

WineMakerBg

Yeah, FX trading bots are getting an update tonight.

Narrow_Elk6755

I think even fractional shares are disruptive to fiat, once you can pay with fractional shares people will just hold the S&P500 and pay with that.   The literature by central banks suggest digital payments overall are ripe for disruption, as FX gets cheaper you could even pay with Swiss Frank or Yuan.

pop-1988

> wont all their reserves be full of highly inflationary currency? No, they'll sell the poverty currency for USD immediately on normal FX markets. The rate you get will reflect the rate they're able to get

voces-chaos

Coming from FX originally, Bitcoin is so easy to scalp.

coinfeeds-bot

tldr; The Flare X Farming Game on Telegram is an engaging farm game on the Flare Network where players mine coins and explore new planets. Players can open the game every 3 hours to collect coins, upgrade planets, and unlock new ones by completing tasks and paying a fee in FX coins. These coins serve as in-game rewards and can be exchanged for other benefits in the future. The game also features an internal wallet for asset storage and offers the option to invite friends to expand one's mining empire. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Few-Relationship-895

Most probably (hopefully) Bitcoin will be the reference, no longer FEDs USD. Anyhow it’ll ONLY always be an asset that exist next to Altcoins, FX, raw material, shares, real estate… It‘ll always be part of the market, bid/take/buy/sell… It is safe like gold. USD is fake, just printed. Hilarious. But: Bitcoin will always be ‚just‘ an asset that is needed to be changed. It is not a property, it is not producing added value.

sinister-desires

What do you know about me to say that so confidently? I have been doing primary research on price dynamics for the past 4 years and algorithmically trading FX, commodities and indices profitably for the past 18 months. I know enough about statistical properties of the price and tendencies of the price.

FractalFreak21

Because there were medium-term stops. Check SME FX on yt.

MikeCagney

To be the exchange of everything - not just crypto, but equity, fixed income, alternatives, FX, commodities, prediction markets. There is a tremendous opportunity to leverage decentralized custody and cross collateralization in a way that would have avoided the bankruptcy issues from years back.

zizwiz_1111

From my understanding - only $2.9 billion moved on Friday (FX Street)… with a total of $9 billion to be paid out (CNBC). More dips to buy, perhaps?

wiredmagazine

By Joel Khalili On February 28, 2014, Mt. Gox [filed for bankruptcy](https://www.wired.com/2014/03/bitcoin-exchange/). Hundreds of thousands of bitcoin—back then worth around $400 million, now $45 billion—had been stolen in an [elaborate heist](https://www.reuters.com/article/business/mt-gox-files-for-bankruptcy-hit-with-lawsuit-idUSBREA1R0FX), the company said. It had practically no remaining funds with which to process withdrawals. Ten years later, Mt. Gox customers are about to be reunited with their bitcoin. On June 24, the trustee responsible for managing the estate, veteran bankruptcy lawyer Nobuaki Kobayashi, [announced](https://www.mtgox.com/img/pdf/20240624_announcement_en.pdf) that crypto repayments would begin to filter through from July onwards. On Friday, the coins began to move. Read the full story: [https://www.wired.com/story/after-a-10-year-wait-mt-gox-bitcoin-is-finally-being-returned/](https://www.wired.com/story/after-a-10-year-wait-mt-gox-bitcoin-is-finally-being-returned/)

wiredmagazine

By Joel Khalili On February 28, 2014, Mt. Gox [filed for bankruptcy](https://www.wired.com/2014/03/bitcoin-exchange/). Hundreds of thousands of bitcoin—back then worth around $400 million, now $45 billion—had been stolen in an [elaborate heist](https://www.reuters.com/article/business/mt-gox-files-for-bankruptcy-hit-with-lawsuit-idUSBREA1R0FX), the company said. It had practically no remaining funds with which to process withdrawals. Ten years later, Mt. Gox customers are about to be reunited with their bitcoin. On June 24, the trustee responsible for managing the estate, veteran bankruptcy lawyer Nobuaki Kobayashi, [announced](https://www.mtgox.com/img/pdf/20240624_announcement_en.pdf) that crypto repayments would begin to filter through from July onwards. On Friday, the coins began to move. Read the full story: [https://www.wired.com/story/after-a-10-year-wait-mt-gox-bitcoin-is-finally-being-returned/](https://www.wired.com/story/after-a-10-year-wait-mt-gox-bitcoin-is-finally-being-returned/)

nostop_loss

what banks use ripple labs Several major banks and financial institutions have adopted Ripple's technology for cross-border payments and settlements: 1. Bank of America (USA) - One of the largest banks in the US, Bank of America has partnered with Ripple to improve its network speed and international payment capabilities[1][3]. 2. Santander Bank (USA) - Santander has been using Ripple since 2018 to launch its One-FX service for cross-border payments between US and EU customers[1][3]. 3. Standard Chartered Bank (UK) - This UK-based bank partnered with Ripple in 2016, allowing it to open payments to customers in over 50 countries[1][3]. 4. PNC Bank (USA) - PNC joined Ripple in 2016 to improve its network speed and facilitate quick payments for its 12 million users[1][3]. 5. Siam Commercial Bank (Thailand) - SCB adopted Ripple in 2020 to launch its outward remittance service, SCB Easy, facilitating payments to 12 countries[1][3]. 6. Canadian Imperial Bank of Commerce (Canada)[2] 7. Kotak Mahindra Bank (India)[2] 8. Itaú Unibanco (Brazil)[2] 9. IndusInd (India)[2] These banks use Ripple's technology for various purposes, including cross-border payments, liquidity management, and improving transaction speed and efficiency[1][3]. Ripple's solutions, such as RippleNet, xCurrent, and xRapid, offer banks advantages in terms of faster settlements, lower costs, and enhanced liquidity management[2]. From perplexity ai app

Dear-Dream8711

I'd say BTC adoption is still early here but majority of digital investors who could look into Money Market Funds 40%(mostly Millennials and up) FX Trading like 40% to crypto's 10%. Most of who are in crypto just for Worldcoin and Notcoin airdrops, they just cash out and leave the space . Id say bitcoiners are 1% of the digital investors in Kenya

biba8163

> So even though there aren’t regulations in place yet No regulations in place yet. YET Ripple has been shilling that tipping point of major banks all using XRP was reached in 2016, 2017, 2018....and bamboozling gullible crypto investors to buy their token... **2016** > "We’ve reached a tipping point where financial institutions are moving beyond blockchain experimentation and projects to real world applications that are driving significant bank-to-bank volume,” said Ripple CEO and co-founder Chris Larsen...Ripple’s growing, global network includes 12 of the top 50 global banks, 10 banks in commercial deal phases, and over 30 bank pilots completed, among many others also using Ripple’s solutions. https://web.archive.org/web/20220518122127/https://ripple.com/ripple-press/financial-institutions-join-ripples-global-network/ Ripple scammers **deleted** this page and all the hype and lies https://ripple.com/ripple-press/financial-institutions-join-ripples-global-network/ **2017** > Forty Seven Japanese Banks Move Towards Commercial Phase Using Ripple...Over 90 banks globally are working with Ripple, including top global banks such as Santander, Bank of America and Axis Bank. http://web.archive.org/web/20170603165808/https://ripple.com/insights/forty-seven-japanese-banks-move-towards-commercial-phase-using-ripple/ Ripple scammers **deleted** this page and all the hype and lies https://ripple.com/insights/forty-seven-japanese-banks-move-towards-commercial-phase-using-ripple/ **2018** > "major banks will use XRP as a liquidity tool in 2018" and "an order of magnitude dozens of banks" will be using XRP in 2019 - Brad Scamminghouse https://www.cnbc.com/2018/06/05/cnbc-interview-with-brad-garlinghouse-ripple-ceo.html ...with Ripple and its founders dumping billions and billions on those gullible investors who bought they hype. It's not a bad coin, it's a scam. One wallet dumping ONE Billion XRP or 1% of the supply on Korean exchanges between January-Februrary 2018 when prices where in the $2-3 range. https://bithomp.com/explorer/rDahLhHJaowRYn4hRkS9S2YpAeiTR8mjBF Ripple founder Jed McCaleb dumped most of his 9 BILLION or 9% of the supply mostly after the SEC lawsuit in 2020 https://pbs.twimg.com/media/FX70nLiXgAIoHAn?format=png&name=large

Substantial_Bear5153

I am using ethereum primarily for sending around stablecoins and onchain FX and could not care less about the price of ETH. In fact, the lower it goes, the happier I am.

ScrappyJedi8

I’ve utilized Galileo FX for almost four months and have had tremendous success. I did play with the settings until I found what I liked and went live. Overall using the risk management tools and setting it as a moderate-aggressive trader has been my preference and I’ve seen 5-10% return per week

AddressWinter3046

I bet on Bitcoin because I think the US government at a minimum , but other countries too will have to print money to pay for military, social welfare, paying of government employees, infrastructure projects both at home and abroad, banks generating personal and business loans for clients as well as any country or private company with the ability to print currency being given permission to. England can't just quadruple it's money supply and expect the same foreign currency exchange rate, which is what Bitcoin is. The regulators want to call it an asset so they can tax you to hold it, tax you to spend it and swap it. If it was a FX currency (which it is) then you wouldn't be getting scammed on taxes for using better money

drapper3

So if USDT/C are not authorized/compliant what are our options ? I see only transferring EUR in the marketplace, converting to USDT/C, trading, back to USDT/C once trade is over and convert back to EUR ? Binance specifically is very bad in EUR transactions (I transfer my USDT to Nexo and then convert to EUR). Doing this frequently over time will eat up a lot of profits due to FX (instead of changing a chunk of USDT once. Moreover, it seems we will not even be allowed to transfer USDT/C out of exchange if not MiCA authorized. Starting to think I need to liquidate all me trades now, get them back to my wallet and wait

Scared-Demand-5797

I've been using Galileo FX on a week now and seeing positive outcome. Still testing on demo account though to backtest before moving into a live account. Join me in my journey

uncapchad

PlanB and the stock-to-flow model (2021) [https://x.com/100trillionUSD/status/1403701397774811138](https://x.com/100trillionUSD/status/1403701397774811138) The $288,000 price tag refers to an average value called for by the Stock-to-Flow Cross-Asset (S2FX) iteration, while a previous version requires a more modest $100,000 average. Both are based on the current halving cycle, a four-year period between block subsidy halvings due to end in April 2024 [https://charts.bitbo.io/s2fx/](https://charts.bitbo.io/s2fx/)

kwijibokwijibo

More like 7.5k The 2:1 FX rate days are long, long gone

drhus

Yes and no, it's not literal shopping -as much as symbolic for me, * the throughput (yes you may shop on L2 but FX statement of millions no one would want it to be L2 primerly -FX daily trading volume 7 Trillion/day! * The fee: 0.01 USD maybe little and isn't even reality of today ulbut yet still a far high fee in other countries

JSt3ttr

I know coinbase has the largest market share, but there's a ton of exchanges you can sign up for a buy bitcoin/other crypto on. I wouldnt say it's any more "obstructed" than the rest of the brokerage industry. The spread on trades is lower than I've quoted corporations for regular FX trades. I used to work at bank that banked thousands of corporations making markets/trading in crypto and settling in the fiat system in massive amounts.

subjectzer00

I… don’t mind that the model is tweaked. New data is gathered, model is updated. What I do mind is people thinking this is Proof(TM) that BTC to teh MUUn rather than what it is. It’s an interesting model that failed to predict the last cycle’s price because it doesn’t take into account all kinds of market forces. It very roughly does indicate the effect the halving cycle’s effect on price (if you ignore the predicted price) based on past performance. Besides, who remembers his S2FX cross asset model where we should have been at 300k last cycle and predicted $5 million for this cycle?

Financial_Design_801

US, JAPAN REPORTEDLY AGREE ON FX INTERVENTION From bailing out companies to entire nation states 😂 fkn fiat money system, joke of an idea & in practice Fed has to open a swap line and flood them with dollars basically https://twitter.com/peruvian_bull/status/1788213908164972574?s=46&t=ihVglVXC0BQSbw6j57EoaA

amadmongoose

It's not really possible for Bitcoin to become a reserve currency on the same level as fiat because the network just doesn't scale well. We're talking hundreds of thousands if not millions of times as many transactions would have to go through the network, bitcoin just isn't built for that. As a store of value similar to gold, sure. But as a way to facilitate international transactions (which is what reserve currency is for, it's not used to park a countries money but to manage FX and international trade), hard no. Could cryptocurrency in general fill that roll? Maybe. Bitcoin, hard no.

EastEndCockney

Because I have USD and I will pay on the FX to get it into GBP in my bank account and then there is a conversion again at Coinbase.

mastermilian

"So little history"? I think 10 years is a very decent sample size. In fact, if you back-test any FX symbol more than 5 years, most likely you will be over-fitting. What's more, because Bitcoin has a transparent ledger, you can see the flows of money. There is a correlation between number of coins on exchange and sell-pressure, for example. Lack of supply (eg. Halvings) with unchanged demand naturally causes a price increase. Of course, you also need to need to define how long you plan to hold a trade. Short term movements are easier to predict based on fundamentals such interest rate announcements and so forth. There's plenty of information out there and you can bet people are using it to make profit in this market. It's only the normies that are just sitting around on social media wondering who can hand them a 100% accurate prediction.

jail_grover_norquist

"where do you work?" "BITCOIN TRADER. TRADER. BIT_CO_IN_TRADER. TRADER TRADER. FX TRADER. BITCOIN." "uh...ok"

benjaminchodroff

Bitcoin on lightning is ultra low fees, and becoming more widely adopted by exchanges (kraken, river) and clients (Nostr - Damus, primal, others) that often make a currency conversion simple to any other local FX (usd, euro, anything). Some wallets are allowing a self custody model - check out some like Zeus. This allows a great marketing campaign: prove your work and get paid with Bitcoin.  If not this, I would encourage stablecoins on a Ethereum layer2. You could look at layer2beat for a list of the top 10. I’m fairly bullish on Linea since it is backed by consensys, but all of these layer2 are still very young and not yet widely adopted.  

krakensupport

Hey u/MyThrowawayImmortal 👋 Fees on the pro platform are fixed, but they vary depending on whether you're trading stablecoins or FX pairs. Read more [here](https://www.kraken.com/features/fee-schedule#spot-crypto). Don't hesitate to reach out with any other questions! Many thanks, Harley from 🐙

Cptn_BenjaminWillard

Why don't you just combine two data points? Use the USD price that you already have access to, and then combine it with the FX published aggregate closing price on the USD/GBP conversion for the same date. If you're using commonly accepted published data, that should be considered a valid data point by most tax compliance officers examining your approach.

bbiittccooiinn

Belarusian-Latvian entrepreneur Aliaksandr Klimenka was apprehended on December 21, 2023, in Latvia by US authorities. He now faces charges of money laundering conspiracy and operating the unlicensed cryptocurrency exchange BTC-e (xBTCe) According to a release by the U.S The Department of Justice (DOJ), from 2011 to 2017, Klimenka together with his partner Alexander Vinnik and others, controlled the BTC-e exchange, and laundered around $4B worth of proceeds. Allegedly, he also controlled the tech company Soft-FX, and financial company FX Open. The 42-year entrepreneur made his initial appearance in a San Francisco federal court on January 31. If found guilty, he faces a maximum sentence of 25 years in prison.

GrandioseEuro

Just fyi if you would trade currencies (FX) you would also pay tax on the profit. Did you think trading FX was some sort of free money hack that is tax exempt? Sometimes this sub is so dull.

GanacheImportant8186

Crypto is great and stablecoins are great, but FX is appalling. High fees and terrible rates will crush you. I do alt of USD to GBP conversions of 6 figures sums - I have found IBKRs rates to be very good. 

pdx1086

Plan b blocks anyone who challenges his models. Dude been wrong so many times. What ever happened to S2FX?

ShillbaneOfSlavyansk

And you should go onto your Robinhood or Trading212 account and click on any instrument you own for its "FX impact" and read what it means. Dumb bitch.

MachaMacMorrigan

> When enough politicians start holding their wealth in Bitcoin, they will soon make it tax-exempt. Politicians hate paying tax. Excellent point. Don't have to make it "tax-exempt". Just note that BTC is legal tender in several countries (at some point in the future) and therefore it's a currency (technically a CFTC regulated financial instrument) . . . and CGT does not apply to FX transactions.

MachaMacMorrigan

Tax implications? You pay tax on Yen? Euros? Any other FX currency? Nah, the whole notion of BTC as a *commodity* is so that The State can double whammy you via CGT, on (a) selling your personal property and (b) from the money debasement that occurs over the period you hold the 'property'. [Consider that a house is likely the same price today *in ounces of gold* that you paid for it. Sell it, and you're liable for CGT in the inflated fiat currency of the land. You just got shafted. Twice. No lube.]

Areshian

AFAIK, Santander launched One Pay FX in collaboration with Ripple. There aren't many news about it, but it seems several articles specify that although part of the technology is from Ripple Labs, XRP is not used at all

Diligent_Advice7398

It’s because everyone is treating it like a commodity to trade. Or they lie to themselves it’s an investment. BTC is a currency like anything else traded at the FX. You make bets on a currency appreciating over another due to macroeconomic conditions between the two. Buying BTC is making a bet against your currency. Just like the people that short the VND to the USD because Vietnam is becoming an exporting powerhouse and history says that when a country wants to incentivize foreigners to buy more of their goods/services they should devalue their currency against the foreigners. Everyone knows that the VND is depreciating to the USD so you make a bet using FX futures. Buying BTC is just like that. There is no intrinsic value. It’s purely speculation.

Allanpleasanton001

No I am not asking you to sell your BTC What I just said in all is I will love to teach you how to double your BTC with FX-trading

Caesars7Hills

I think that seeing the charts of other currencies vs the dollar ath in BTC was eye opening. The dollar was the last all time high to fall. There is a world that business would denote their treasury in bitcoin but transact in dollars. I am not sure this would work, but I wouldn’t rule it out at this point. You hold onto bitcoin and perform contracts in dollars. There is no way that 200 currencies can be supported. Maybe there are 5 or less. FX brings in a lot of volatility for corporations. If you could unify an inflationary asset for spend and deflationary asset for saving may work? But, then again, maybe your employees, contractors and suppliers demand payment in BTC.

Significant_Beat_790

I preach about it but only teach it when people actually willing to listen. There's a bunch that goes it's speculative trading. Currencies value is almost entirely speculative, don't have a value but even in 1997, only like 5% is used for transaction, rest are all in FX market trading. This entire problem of people hating it isn't just missing out, but a complete unwillingness to learn anything about money itself, not just Bitcoin

Significant_Beat_790

btc ETF is not even 50% of gold etf market cap, let alone the market cap of gold itself (gold is 14trillions) The FX market is also insanely larger than any other market, it has a daily trading volume of 6trillions USD. If nothing changes, I have complete confidence it will go upto $100k within this or next Bull market. Very confident in 10years time it will be higher, imo $250k will be within the next 5 cycles.

korypostma

S2FX did, S2F did not.

DefiantStatement9724

I can help you trade your FX market DM me 👇

DefiantStatement9724

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DefiantStatement9724

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DefiantStatement9724

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DefiantStatement9724

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firl21

This is the best answer. The value is from the fact dollars are a medium of exchange. Not because of any other thing. Case in point. Hypothetical currency C from Ctopia could be fixed at 100k units. If C is a nation that needs imports but has no desired exports, then the value for C will drop as people wont want it because there is nothing to buy with it, thus its value can drop despite being fixed to 100k units. Lets say they discover unobtanium on Ctopia, now EVERYONE wants it, they will be willing to pay more and more for C because thats how you can buy this magical material. Obviously FX markets are more complicated, but the general principal is the same. The value of a currency is derived from the demand of the product of which you can buy with it. Mind you I mentioned the Currency which we can say is L1, not the value of a unit of currency. which can best be described as a L2. L2 is L1/Units. ​ So in short, Transact in bitcoin. Sell unique things for bitcoin, and its price will go up. ONLY cash out to pay taxes. Start a company with the shares defined in a par value in bitcoin. The market will correct immediately as arbitrage withers away.

chloe_priceless

Can someone Explain to me the FX Parts of the IBIT Holdings ? Why is it there, did they try to Short Bitcoin or what was the Idea about that.

ForumHelper

BlackRock lists their holdings here: [https://www.ishares.com/us/products/333011/ishares-bitcoin-trust](https://www.ishares.com/us/products/333011/ishares-bitcoin-trust) Can anyone explain what the negative FX entries are?

Personal-Finance21

If you believe the powers that are in charge are going to let a bunch of technologists somehow supersede fiat money, it would be impossible to explain it to you. There is no way major governments will ever allow their monetary systems to be superseded. It provides too much economic power. If ever there became a risk of a non-government controlled currency dominating transactions in an economy, the government would prohibit its use. Or they will introduce their own crypto currency, change the laws so only theirs can be used. You're right. All governments ultimately depreciate their currency. Without exception. Even the Romans started watering down their coins by the end. To preserve purchasing power you need productive assets. Crypto produces nothing. Literally, zero. Your purchasing power is better preserved by buying good businesses or rental properties. The only way to increase your purchasing power with crypto is for the price to increase by selling it to someone else at a higher price than you paid....which is literally the definition of speculation. Think about it -- do you see people tracking the price (outside of FX traders) of other actual currency? No. The entire world runs on currency but people are hyped about crypto because the price is going up in a nice geometric bubble fashion. In the same way they were despondent when the price cratered. It's speculation. There's nothing evil or immoral about it. Just don't fool yourself into pretending you are doing something else. You're speculating. Own it.

tomcusackhuang

I attended an algo trading course a few years ago and they said long/short fx. I.e. USD/GBP, in this FX pair you’re long the dollar and short the pound. I never really saw it this way before and now when I price things in BTC/USD, I always think “I’m long Bitcoin, short dollar”. Maybe I’m not the only noob out there who doesn’t know this?

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all-and-nothing

Especially when the alternative was paying tons of fees for international transfers and FX exchange and waiting forever for the funds to arrive.

BitcoinBaller420

Treasuries and FX as well just off the top of my head. I don't know the details for sure, but I think the trillion number may be based on asset class, so perhaps real estate and other assets where the value of the asset class is over a trillion even if the exact thing you're buying isn't might be acceptable. Anyways clearly I don't know for sure, #dyor. Good luck to you.

Maleficent_Wing9845

In FX they're called bull and bear traps. Price is up and you're feeling FOMO and buy shares, price dips and you exit at a loss. Liquidity can be found like this in all markets

ukiyo3k

You’re not going to save on gas fees swapping BTC for pesos in Mexico. You’re going to lose to the spread via P2P or the ATM. Trading some BTC to USD and being mindful of the FX to Pesos the way.

shadowdax

Every single week day the largest futures exchange in the world, CME Globex, shuts for a one hour maintenance window. [https://www.cmegroup.com/trading-hours.html#foi=F&tradeDate=2024-02-19&pageNumber=1](https://www.cmegroup.com/trading-hours.html#foi=F&tradeDate=2024-02-19&pageNumber=1) Then it shuts all weekend. Imagine having an open position in S&P e-mini futures, or 10-yr US bonds (ZN), or WTI crude oil futures... and an earthquake happens in Japan or Russia crosses the border in Ukraine during that hour... TradFi has been like this forever. It's even moreso in Europe. The third largest futures exchange (Eurex) traditionally was shut from 22:00 to 08:00, and only extended hours for some products a few years back. And then you have stock exchanges that are only open 8 hours a day on weekdays, and FX markets that close on weekends. And yes you get liquidated on the open, unless your broker gives you an opportunity to post more margin.

firkraag79

You would do the same in his shoes. They never talk about the mere fact that, if the US was 133 Trillion in debt, that every household on paper has not only had 1 million debt, it also has 1 million worth of cash. (if the debt wasn't sold to foreigners) On paper, everybody would be a millionaire. Look both ways. A billionare today in a 34 trillion national debt world has the same allocation power as a millionare in a 34 billion national debt world back a few decades. It's all smoke and mirrors. A distraction, you could say. Nothing but a game of monopoly for a few tycoons, all assets are at play. The only real issue is that all this balance expansion causes asset inflation and the cantillion effect, meaning a massive divide between rich (asset owners) and poor (non owners/workers). It requires more and more force/money/political actions to keep the later from rebelling and destroying all assets. So the more money you print, the more of that money goes into "keeping the status quo". If you can't do this anymore (including defending the currency exchange rate on the FX market) your currency breaks. But as Kashkari said - there is no limit to their ability to print money. They are just smart enough not to it (all the time), unlike Argentina, Venezuela or Turkey. Dumb people do dumb shit. Sometimes out of desperation. Or plain greed. I'll give you that.

TheCryptoIsMine

I use Wise for lower value business FX. They have held my last couple of transactions. I answered all their questions, they asked more. This is a long established, limited company, paying other established businesses in other territories and currencies. They've just told me the payments I sent at the start of the month haven't gone either. Suppliers emailing me asking why they haven't been paid. Based on this new course they are taking, with my business at least, I'd think twice about them.

JoeOpus

For your first part - Yea, we all have opinions on where the market could go. Invest as you see fit. Second part - Banks would hold XRP. Customer acquisition would mean more banks are holding XRP. If XRP price increases, there's more incentive for banks to buy and hold as part of a treasury strategy as well as the main benefit of instant liquidity. They can hold XRP instead of dozens of FX. Fairly clear benefit of holding

JoeOpus

I mean, you’re saying you don’t understand, and that’s fine. Then this might not be your thread. Your statement on FedNow makes me not want to read the rest of your post as FedNow is strictly for domestic payments and has nothing to do with cross-border, liquidity marketplaces, and working with providing liquidity to FX conversions. Anyone moving money across countries or countries facilitating payments in their FX to another FX have wanted something real-time cross border payment, settlement, and liquidity for years Bitcoins clear use case is that it’s an “unstoppable ledger”? Interesting.

Advanced-Guard-4468

That's not something I would brag about (interning at FX)

soks86

No, yeah, no, I agree. Your point is correct, countries with any clout/planning need a central bank and a currency. BTC just gives you something to measure against rather than depending on the USD and thus the US government and all of its officers/commissioners. Sweden, for example, sold Swedish Kroner (?) denominated mortgages to the French and Polish. They (the French and Polish) got screwed when the Kroner got stronger and suddenly no one could afford their mortgage. It's a well understood issue if you don't deal in your local currency then you have FX risk you have to hedge. Anyone saying BTC will replace USD for day to day use is, in my opinion and many others, wrong.

PartyRight7425

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DeviljhoFood

>AND it has to be "forced" on us by the Govt (eg. taxes in local FX) If your definition of "money" is that **it must be fiat**, then you're right. Bitcoin is not money **by that definition**. But that's not the actual definition of money, so who cares.

RohanRunner

An E92 BMW M3. I had to sell anyway as it was a UK reg and I was moving to the Netherlands (Brexit didn't help there). Found someone who was willing and it helped a lot with FX. At the time BTC was worth around 35k so it hasn't been a bad decision so far, I haven't bought a new car since as not needed in Amsterdam.

MachaMacMorrigan

If Bitcoin us a commodity, then it is an asset like a piece of artwork and subject to capital gains tax. This is the case in most(?) Western countries right now. If BTC is a currency like GBP or EUR then FX rules apply. For Joe Average, here's the deal: "Spread betting is tax-free as it’s speculative and classified as gambling.". Can't see governments ever admitting BTC is a currency. Of course, once wealth gets converted from Fiat to Bitcoin, two things can happen: 1. BTC collateralized fiat loans just suck more wealth out of the Fiat system. 2. BTC circulates via LN (or other L2) in an opaque circular economy. Eithet way means Fiat gets screwed.

Neophyte-

tradtional payment rails already have these privacy concerns and can already be frozen at least domestically and with countries who play ball with each other CBDCs are just another payment rail that has a few advantages - speed - ie instant when settlement can take days - lower error rates - efficiency / money saving for banks - no need for nostro / vostro accounts in different fiat denominations for FX settlement pairs. - trustless escrow CBDCs will likely never be exposed directly to consumers, its a business to business payment rail. so the end consumer will end up using cbdc's without relaising, all these anti CBDCs dont really understand what the purpose of it is and how it will be used. source i worked on the australian CBDC pilot in the fintech industry here.

SurfSnowInvest

Yes have seen I’m actually an FX trader as my profession. Wish you the best hopefully Milei can turn things around.

Substantial-Skill-76

Ooh yeah. I could place them with FX Choice maybe?

HypnoticMango

Source? Define 'works'? I can't even imagine how that is quantified as a piece of research, I would love to read it though. Technical analysis is not a magical solution, and the majority of people (like on this sub for example) don't put the work in to understand it, and would rather claim it's voodoo than spend some time understanding it. Each to their own, but I can't be that laid back about my money. Prservation of funds shopuld be the no.1 priority. Don't give bacxk what you have made etc. I got involved in 2020, and like a lot of people, I got rinsed in May 21 with the big crash. I watched my portfolio disappear before my eyes, and wasn't educated enough to know how to react. I decided then that I wasn't going to let myself be in that position again, so I stopped investing blindly, and started educating myself. Once the bear properly kicked in, I branched out to Forex, which provides daily opportunities to practice and refine your trading skills. I jopurnal my trades. I learned risk management. I have been trading FX alongside crypto for 2 years now, learning the whole time, and I would absolutely recommend doing this to anyone that is serious about learning about the market. I'm not being big headed when I say I believe I will smash the next bull market, because I have put in the long hours to learn. Depending on your strategy, you only need \~50% success rate to be profitable. You can create a strategy and use historical data to test it, giving you a % success rate. Crypto will always be more volatile and unpredictable than Forex, but a lot of the same principles apply. I use my trading profits to build spot positions, so best of both worlds.

DamageAny5994

Even if it's not the global currency but your countries. Their would be considered realised profit already. Similar to FX gains if you hold the currency (not just a forward or swap).

TigerSharkDoge

The issue is more that Argentina lacks the FX reserves to officially switch over to any currency.