FX

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

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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?

Sophia626366

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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.

Unlikely-Os

It’s similar to FX trades. Someone will arbitrage some price if the paired price is not aligned.

MachaMacMorrigan

Elsewhere, I commented that the BTC market most closely resembles FX. Another person added that these organizations aren't really exchanges, but **brokers**. I think this is correct. Here's the Wikipedia entry: Foreign exchange regulation is a form of financial regulation specifically aimed at the Forex market that is decentralized and operates with no central exchange or clearing house. FX brokers have requirements to which they should conform, and rightly so. A good example is a requirement to segregate client funds. I don't think it's necessary that the State do *regulating*, though. I'd prefer a reputable third-party do transparent and published audits to ensure conformance to requirements. But that's an Ancap vision.

MachaMacMorrigan

True this. The SEC also has ***not*** said that BTC is a commodity. Gensler has avoided this word. I understand that a commodity is (according to the CTFC, and excluding agricultural products) "A physical commodity such as an agricultural product or a natural resource as opposed to a financial instrument such as a currency or interest rate". It's seems to me that BTC falls in the latter class rather than the former. If that's the case then Bitcoin is neither a security, nor a commodity. It's closest to a foreign currency, I think. Who regulates FX?

oddlydikkied

At some point it will all be about institutions and their entry into digital asset trading. In my quest of finding institutional focused crypto projects I stumbled upon Definity Markets. They seem to be lightyears ahead in terms of product readiness. I read they recently had their first live trade by one of their big clients. I DYOR and think it could be a gem. I am no team member and not affiliated in any other way than owning a small bag of tokens. Below some information I gathered: Definity Markets is a London based fintech company with connections to big banks and several financial institutions. They have a team with long experience in TradFi including leadership roles in major financial institutions, led by Co-Founder/CEO Manu Choudhary (previously Director FX Sales at Lloyds Bank). They are owned by DMALINK who have been running a successful and rapidly scaling FX business (FX & precious metals) since 2017, with major international banks as partners and over $1T of completed transactions - currently over $1B+ per day (see more below). One of the major narratives in the upcoming bull market will most likely be based on institutions and this project has absolutely huge potential because of its institutional connections and technology! They have recently launched a world first trading model that allows institutions to trade crypto at lightning-fast speeds, while minimizing counterparty risk. They are NOT an exchange. DeFinity does NOT take custody of either crypto or fiat. The custody of fiat is with a European Investment Bank. Crypto custody is either self-custody on Fireblocks or via an accredited custodian such as BNY Mellon. They can do a maximum trade size of $100m and $500m via Algos (they will upscale later). They offer Fiat On/Off ramp services to crypto native firms. They are regulated through FSC Mauritius. Their institutional asset trading platform has been operational since September 26th. 6 institutional clients (for now under NDA) have been onboarded and are trading live. Definity has 60+ clients lined up to join the ecosystem. The platform is not for retail users, only for institutional clients. Institutions will hold $DEFX (native token) to get discounted trading fees among other features/benefits. A % of the fees paid to use the Definity platform will be used to buy back $DEFX from the open market and then burned. Buy backs will be a percentage of entire group revenue (incl. DMALINK revenue). Open market buys mean that a CEX with proper liquidity is essential (and in progress). With a current market cap of around $5 million and almost all tokens in circulation (a part is reserved for farming pools/liquidity/market making) there's quite a lot of upside to the token. With a real use product like this, combined with massive institutional clients (think Big EU banks for partners) this could be a true gem! In short / tldr: A London based crypto focused company called DeFinity Markets. Microcap: current mcap $5.1M and FDV $7.7M Their ecosystem token is $DEFX Available on BSC (Pancakeswap) & ETH Offering institutional crypto trading and Fiat On/Off ramp to crypto native firms Institutional clients using the platform will pay fees in $DEFX (new tokenomics document in progress) CEX is being worked on for buy backs on open market Their platform is designed to cater to the specific needs and expectations of institutional investors, such as banks, hedge funds, asset managers, and corporations DeFinity leverages blockchain technology for transparency and security while implementing high-frequency trading capabilities to meet institutional demands Owner DMALINK has 40 live institutional clients including 16 banks, including: Danske Bank, Nomura Bank, Crédit Agricole CIB, CME Group etc. It's also partnered with Tier 1 European investment bank for crypto trading As for additional tokenomics there currently are staking pools available through their dashboard (BSC & ETH pools) for staking rewards. Right now farming pools for liquidity are being prepared. The supply is fixed and future buy backs & burns will decrease supply.

coinfeeds-bot

tldr; Ripple is partnering with payments fintech Onafriq to expand remittance capabilities in Africa and across its borders with Gulf nations, the UK, and Australia. This collaboration will open three new blockchain-based payments corridors, connecting Onafriq users in Africa with customers of PayAngel in the UK, Pyypl in the Gulf Cooperation Council (GCC), and Zazi Transfer in Australia. Ripple's goal is to cover 90% of FX markets and provide payment services to enterprises and SMEs. The price of XRP, Ripple's native cryptocurrency, has spiked due to recent developments, including approval by the Dubai Financial Services Authority and involvement in a central bank digital currency project with the National Bank of Georgia. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Anonymous_wins

What’s astrology got to do with these FX markets bro? I don’t believe in these bogus claims.

CondutorDeDomingo

They are going through a currency crisis. People in countries with stable currencies are not going to start gambling on FX trades.

JamesBondMI6007

Part 2: Table 1. Pros and Cons of Central Bank Digital Currencies on societal and individual level Societal Level Pros: Pros – Advantages of CBDC Loss Protection Convenience Improved Data Privacy Societal Level Cons: Compromised Data Privacy State Surveillance, Decrease in Economic Freedom Crowding out of Commercial Banks Destabilization of Financial System Depreciative Money & Holding Cap Social Credit System Hacks Attacks of Foreign Malicious Actor Poor Acceptance Electricity & Network Dependence Individual Level Pros: Financial Inclusion Reduction in Crime Less Tax Evasion Robustness of Financial System Efficient Monetary Policies Zero Counterparty Risk Efficiency Increased Seniorage Individual Level Cons: Spending Caps & Blocks Transfer Limits & Blocks FX Limits Capital Export Controls Consumption Controls Penalty Taxes Forced Loans Nudge Economics Negative Interest Geo Fencing & Curfew Enforcement III. ADVANTAGES OF CBDCS Financial inclusion, for instance, could be enhanced as this electronically issued legal tender can directly be credited to digital wallets which can be accessed via mobile phones or other digital devices. This may facilitate accessing financial services for individuals and businesses, especially those in remote or underserved areas provided they dispose of a mobile phone and network connectivity. This could make it easier and more convenient for citizens to access financial services and participate in the economy [2]. Moreover, CBDC would also allow for an efficient distribution of universal basic income should governments decide to introduce such subsidies [3]. A reduction in crime, especially financial fraud could be another advantage induced by CBDC: Should it become mandatory that digital wallets be linked to a person's national identification, allowing for easy verification of identity, financial fraud could be reduced substantially as all transactions would be traceable and thus adhere to higher AML and KYC standards as current cash [4]. Besides, physical cash, especially notes is prone to counterfeiting. Being digital and directly issued by the central CBDC would not be vulnerable to the conventional means of counterfeiting [5]. Moreover, if the CBDC design satisfies the public policy requirements of other supervisory and tax regimes, it is safe to say that a CBDC regime has the potential to induce a significant reduction of tax evasion as it would be the only legal tender in a scenario where CBDC has replaced physical notes and coins [6]. Moreover, the programmability of CBDC would allow entirely new and highly efficient methods of tax collection [7]. Virtually any tax could be charged at source, from VAT to income tax. Even import and export duties could be collected at source. CBDCs are issued by central banks. This fact eliminates the risk of default or counterparty risk that exists in traditional banking systems. Transactions with CBDCs would be settled directly with the central bank. The user can therefore rest assured that he or she will always get paid the balance that they are due, and any transaction would thus bear zero counterparty risk with commercial banks [8]. Arguably this reduction of counterparty risk would also increase of the security and stability of the financial system and thus enhance the robustness of the financial system as it would scale down the role of banks in money creation and thus moral hazard [9]. Furthermore, it is argued that the CBDC would further contribute to the stability of the financial system as it provides more possibilities to implement efficient monetary policies not least because central banks can bypass intermediaries and directly target sectors or groups [10]. For instance, helicopter money could be distributed in a highly efficient manner [9], but governments could also take advantage of CBDCs’ programmability to manipulate the value of the currency which could be used to manage economic instability, stimulate economic growth, or support certain industries [11]. Most notably, however, central bankers suggest that it is easier to implement negative interest rates on cash holdings under a CBDC regime and thus reduce the money in circulation [12]. In general, it is also argued that CBDCs would boost the efficiency of payment systems altogether as CBDCs would lower not only settlement costs, but also reduce frictions and fees associated with payments as fewer middlemen are involved and thus risks reduced [13]. A consumer could for instance pay at the point of sale and the vendor would immediately receive the funds without delay and free of risk. Since banks would be disintermediated their role in the monetary system in general and for money creation in particular would be significantly reduced. As a result, commercial banks would create less money and central banks would increase their money creation. Consequently, government, respectively the public would benefit from collecting increased seniorage instead of a range of privately owned commercial banks [9]. On an individual level then following advantages can be identified for the consumer: As all accounts and their balances are logged centrally, CBDC will also safeguard users from the loss of money. Should a device on which CBDCs are stored get lost or corrupted, the bookkeeping at the central bank will serve as a loss protection. A consumer could therefore no longer “lose” cash. [14, 15]. Another argument in favor of CBDC is convenience: CBDCs could potentially facilitate the development of new financial products and services, such as peer-to-peer transactions, digital payments, and micro-lending as it offers possibilities to aggregate balances in a fashion that do not exist for cash and traditional bank accounts [16]. Improved data privacy is oftentimes given as another argument for the introduction of retail CBDC: when a monetary transaction is made among contracting parties, banks or payment providers can gather information on the deal itself and on the buyer and seller. Gathered at large scale this information is extremely valuable and at times sold on to interested parties without the user profiting the sales of his or her data. CBDC would put an end to rent generation as central banks would not engage in such data gathering and sales thereof [17]. The end-user would no longer give away valuable information to private entities for free and run the risk that they are traded on.

Adventurous_Factor20

An options strategy can be used as a portfolio performance booster with a small amount relative to the portfolio size. Advantage of the Bitcoin network is that the profitability is very high compared to FX or precious metals options with a small investment size. More info is at the end of this article https://medium.com/@pidigital.swiss/current-state-of-derivatives-in-digital-assets-4a9276ee4b7e I started a community https://reddit.com/r/Digital_Options/

dani6465

Yes, it is to keep inflation down. They don't change the policy rate for many other reasons. You have FX reserves to adjust spot price. Because inflation and deflation can ruin an economy? I justify since they are heavily regulated, transparent, and have solid backgrounds. They even have monthly meetings and reports. I would lend money to complete strangers as secured or covered. I am already doing so through bonds. They don't force you to make unnecessary purchases. 2% is nothing, you earn more than that in your bank account. And yes, they stimulate spending based on inflation. Gold standard was shit since it made fiscal and financial regulation to a halt. How the hell did you see pre 1930 growth and post 1930 growth and conclude pre 1930 was better? You are pulling so much stuff out your ass. Inflation doesn't control anyone, average people haven't cared about inflation for 30 years. And again... inflation increase the value of all your assets/investments as well, while your cash in banks increase with a rate higher.... To be honest, I feel like you are not even close to being enough educated to talk about any of this.

nyaheh

Exchange (EUR-BTC) -> SEPA transfer to Revolut (EUR) -> currency exchange to GBP in Revolut -> bank transfer to your bank. I don’t know how much money your talking but you can pay a sub to revolut for reasonable FX.

jst3t

I get it, it’s fair to be weary of counterparty risks and I know it’s not covered. My point is RH is going to be one of the safer places to leave btc in a hot wallet. RH is just a broker there was no more liquidity for them to purchase GME shares on the street to cover their risk so they could no longer offer a price. I work in finance and this is super common in FX markets too. Brokers will frequently stop making markets when there is no liquidity. The probability of your bitcoin getting stolen on some wallet you own by a hacker, thief, or losing your bitcoin somehow moving it on the blockchain is likely higher than the probability robinhood goes under as they are extremely financially sound and they are not allowed to lend out their liabilities (your shares or crypto) without getting your permission.

Unlikely-Os

Cross pair trading. Similar to FX trading, there’s an arbitrage opportunity. Example using FX, YEN/USD and USD/EURO, and EURO/YEN.. that’s why you also see many traders are/were previously FX traders

freistil90

„Huge“ is an absolute overstatement. You have some projects and some experiments. In sum the project notionals in sum barely exceed the balance sheet of a small local bank and are more often than not silently dropped again after some years. A good friend of mine did some actual project work over three years and told me that it’s a lot of loud marketing, then barely working and unprofitable project phase (since through no regulation the seed money is sucked out by the investors who want to delete a tax asset from their balance sheets and are happy to have a project fund whose accounting practices they can control and even get a lot of external seed money). It’s often a massive front in the few cases where the project survives 6 months or just an experiment because why not. No larger financial infrastructure projects from central banks have made it far. Sounds always good and you can push every ESG label on it you want and it’s in 9 out of 10 cases an absolutely abusive shit show behind the curtains. You have just as much corruption there, maybe even more because it’s even less regulated than developing FX markets.

Tasigur1

>"We think the path higher for ETH prices may take longer than for BTC, but we see ETH eventually reaching a higher price multiple than BTC relative to current levels (**5.0x versus 3.5x**)," Head of FX Research, West, and Digital Assets Research Geoff Kendrick wrote You know what, I take it. **BTC 3.5x** **ETH 5x** Let's go ;-)

Smiling_Jack_

>**By the end of 2026, ether could reach $8,000, or a 400% jump from today's price of around $1,600.** > >"We think the path higher for ETH prices may take longer than for BTC, but we see ETH eventually reaching a higher price multiple than BTC relative to current levels (5.0x versus 3.5x)," Head of FX Research, West, and Digital Assets Research Geoff Kendrick wrote. > >**But that's only a "stepping stone" to a larger long-term valuation of $26,000-$35,000, though this estimate assumes use cases and revenue streams that have not yet come about, the note said.** > >The forecast partially stems from expected improvements to the Ethereum blockchain.

coinfeeds-bot

tldr; The Bank for International Settlements (BIS) and the central banks of France, Singapore, and Switzerland have successfully completed a CBDC initiative called Project Mariana. The project tested cross-border trading and settlement of wholesale central bank digital currencies (wCBDCs) using decentralized finance (DeFi) technology on a public blockchain. The collaboration validated the trading and settlement of hypothetical euro, Singapore dollar, and Swiss franc wCBDCs, and explored the use of automated market makers for spot FX transactions. The project aims to improve cross-border payments and may be a forerunner for the functioning of future cross-border payments. Further research and experimentation will continue. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

CranklinBeans

Oof.. thems were the days 😂 Veteran of the silk wars usually escaped with penny's or millions, depending on which side of the tape you found warmer. I often look over at the PC I bought. Its FX series AMD chipset and compatible motherboard. The cheap case it came with.. It haunts me. That PC is like 35,000 usd just sitting there collecting dust. I can't wait until bitcoin is 7 figures and that PC is the most expensive thing I own. Then maybe I'll turn it on and play some CS:GO at 60 fps tops 🥲

Stoopiddogface

That's pretty bullish if they're going to be w BIS. Settling FX markets is a lot of traffic

milonuttigrain

It was FX at first then move to crypto, start with BTC, ETH and then BNB. Profit for the whole year was $2000. That’s why I stopped.

milonuttigrain

I started with FX and it is already foolish enough, but day trading crypto is another level. People trying to outsmart the market often get rekt.

nightfly13

Yeah I'm in another nation where there's an 8-10% price premium. Fewer sellers in said currency than buyers, and not enough FX liquidity to arb the differential.

basic_user321

Sanctions, remittance fees, hi FX fees, mayhe OP is in syria, and no banks have cross boarder transfers.

rjm101

What's bigger and is wider reaching? A German company which produces cars Or.. An open source global form of money It's like comparing the stock market to the FX market. FX market is way bigger.

BlondSquad

SCAM ALERT!!!!!!!!!!!! So this happened to me 3 weeks ago and it was a complicated moment for me, I was going through my Facebook feed and saw a post concerning investing with one FX Trader, The Facebook user said she invested $10,000 and got back 10times the amount in 5days, I decided to give it a try because the Offer was too good to reject, within a period of a month I had paid $20,000+ in total and each time I tried to withdraw they always ask me to pay for something else with the reason why I needed to pay to get my money and profit that had accumulated also telling me to refer someone before withdrawing my profit. I became tired and complained on a group luckily for me a user told me about a crypto recovery expert. I hesitated but then contacted him and he asked for the transaction history and details and within 7 hours they asked for my wallet address and sent me a whooping $20,000, I can't thank him enough. it's super incredible how they got mine back, you do all you can to help every victims!!! Just amazing, I applaud your ability to counter so many scammers with detailed measures and still be keeping it all cool without taking any credit from us, and if you already in one of this cases then you shouldn't hesitate to contact the recovery @wrath_hacker on Instagram

BlondSquad

SCAM ALERT!!!!!!!!!!!! So this happened to me 3 weeks ago and it was a complicated moment for me, I was going through my Facebook feed and saw a post concerning investing with one FX Trader, The Facebook user said she invested $10,000 and got back 10times the amount in 5days, I decided to give it a try because the Offer was too good to reject, within a period of a month I had paid $20,000+ in total and each time I tried to withdraw they always ask me to pay for something else with the reason why I needed to pay to get my money and profit that had accumulated also telling me to refer someone before withdrawing my profit. I became tired and complained on a group luckily for me a user told me about a crypto recovery expert. I hesitated but then contacted him and he asked for the transaction history and details and within 7 hours they asked for my wallet address and sent me a whooping $20,000, I can't thank him enough. it's super incredible how they got mine back, you do all you can to help every victims!!! Just amazing, I applaud your ability to counter so many scammers with detailed measures and still be keeping it all cool without taking any credit from us, and if you already in one of this cases then you shouldn't hesitate to contact the recovery @wrath_hacker on Instagram

BlondSquad

SCAM ALERT!!!!!!!!!!!! So this happened to me 3 weeks ago and it was a complicated moment for me, I was going through my Facebook feed and saw a post concerning investing with one FX Trader, The Facebook user said she invested $10,000 and got back 10times the amount in 5days, I decided to give it a try because the Offer was too good to reject, within a period of a month I had paid $20,000+ in total and each time I tried to withdraw they always ask me to pay for something else with the reason why I needed to pay to get my money and profit that had accumulated also telling me to refer someone before withdrawing my profit. I became tired and complained on a group luckily for me a user told me about a crypto recovery expert. I hesitated but then contacted him and he asked for the transaction history and details and within 7 hours they asked for my wallet address and sent me a whooping $20,000, I can't thank him enough. it's super incredible how they got mine back, you do all you can to help every victims!!! Just amazing, I applaud your ability to counter so many scammers with detailed measures and still be keeping it all cool without taking any credit from us, and if you already in one of this cases then you shouldn't hesitate to contact the recovery @wrath_hacker on Instagram

BlondSquad

SCAM ALERT!!!!!!!!!!!! So this happened to me 3 weeks ago and it was a complicated moment for me, I was going through my Facebook feed and saw a post concerning investing with one FX Trader, The Facebook user said she invested $10,000 and got back 10times the amount in 5days, I decided to give it a try because the Offer was too good to reject, within a period of a month I had paid $20,000+ in total and each time I tried to withdraw they always ask me to pay for something else with the reason why I needed to pay to get my money and profit that had accumulated also telling me to refer someone before withdrawing my profit. I became tired and complained on a group luckily for me a user told me about a crypto recovery expert. I hesitated but then contacted him and he asked for the transaction history and details and within 7 hours they asked for my wallet address and sent me a whooping $20,000, I can't thank him enough. it's super incredible how they got mine back, you do all you can to help every victims!!! Just amazing, I applaud your ability to counter so many scammers with detailed measures and still be keeping it all cool without taking any credit from us, and if you already in one of this cases then you shouldn't hesitate to contact the recovery @wrath_hacker on Instagram

milonuttigrain

Not only crypto but stock market and FX heavily depends on the US economy. Though I hope for a trend reversal, even though it will be slow.

milonuttigrain

Not only crypto but stock market and FX heavily depends on the US economy. Though I hope for a trend reversal, even though it will be slow.

krakensupport

Currencies supported? GBP/EUR via PayPal balance, bank transfer and plastic cards. 💷 💶 Processing times? Near instant. Please note that funds deposited through PayPal will not be eligible to be withdrawn for 7 days. 🗓️ Limits? There will be a €1,000 daily rolling limit on PayPal deposits (GBP equiv. based on our static FX rate), and minimum transfer of €1. Fees? PayPal does charge a fee which we outline to our clients in the UI before account connection and deposit initiation: - UK is 2.40% - EU is 3.39% I hope this answers some questions you may have! Keep em' coming! Bill from Kraken Support 🐙

mcfreiz

Invest answers is my number 1, I’ll have to check out FX

badadadok

Sorry, all three are on my not to watch list. Here's my daily watchlist 1. FX Evolution 2. James Invest Answer, Ben Cowen, Rob Digital Asset News, CTO Larsson 3. David Lin Report 4. Stansberry Research 4. PensionCraft 6. Wealthion

damianivan

Crypto is not the only volatile investment as you said. I trade FX and it's volatile though it's not the case of buy and hold. Stocks and crypto are mostly buy and hold. I'm holding a few stocks hoping they appreciate over time as well as cryptos like Matic, Hero and Ride which are currently developing on what they already have. So we should expect their prices to pump over time.

Tajo990

"Alexandre recruited many of his investors by exploiting his position of trust within his church and the Haitian community, even going so far as to enlist members of the church to help recruit Emini FX investors. As today’s sentence demonstrates, cryptocurrency executives who lie and cheat their customers will be held to account for their crimes." Amen to that

coinfeeds-bot

tldr; Eddy Alexandre has been sentenced to nine years in prison for running a $250 million crypto fraud scheme. Alexandre operated a crypto trading company called Emini FX and defrauded 25,000 individuals by fabricating investment returns and falsely claiming to use AI trading technology. He recruited investors by exploiting his position of trust within his church and the Haitian community. This case highlights the need for accountability for cryptocurrency executives who deceive their customers. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*

JugobetrugoN1

I think the Middle East has a lot of potential for crypto and FX, especially with the UAE’s progressive approach to regulation

LiftingandCooking

Thank you. This is a massive flaw in the CBDC cross border payment studies also. They bypass one of the major reasons trade is denominated in dollars (nobody wants long term exposure to your shitcoin, I mean currency) and magically solve it by inserting a magical FX broker into the CBDC system willing to take the shitcoin side of the liquidity pair, seemingly with unlimited liquidity.

nonameattachedforme

Yeah, I think if you are skilled at using technical analysis to make winning trades on forex, then crypto is easily the next best thing. Why? Arbitrage - there are fewer people in this space and an experienced trader can take advantage of the information asymmetry. 24/hr trading The volume is getting significant enough for many alts and especially the blue-chips that the spreads will rival that of FX.

Ultimate_Pickle

I’m with (and I love your username by the way!) GI-JoeExotic. Unless you have deep pockets, leverage trading is a minefield and you’re wearing clown shoes. I tried some leverage FX trading last year and got screwed. I wouldn’t even touch crypto leverage as exchanges can really set any price to manipulate liquidation. They control the order book, so know exactly what it takes to hit a trigger price.

thinkingperson

This. [https://www.reuters.com/technology/standard-chartered-bumps-up-bitcoin-forecast-120000-2023-07-10/](https://www.reuters.com/technology/standard-chartered-bumps-up-bitcoin-forecast-120000-2023-07-10/) >LONDON, July 10 (Reuters) - The value of top cryptocurrency bitcoin could reach $50,000 this year and $120,000 by the end of 2024 Standard Chartered (STAN.L) said on Monday, predicting the recent jump in its price could encourage bitcoin "miners" to hoard more of the supply. Standard Chartered published a $100,000 end-2024 forecast for bitcoin back in April on the view the so-called "crypto winter" was over, but one of the bank's top FX analysts, Geoff Kendrick, said there was now 20% "upside" to that call.

behind25proxies

Bro you are asked about the negatives of nano and the only thing you can come up with is 'yeh price action aint good' What about the fact that the NF has only 170k usd left in the known dev fund? Or i dont know, maybe perhaps the fact that basically nobody but the NF build on nano? Or maybe mention the fact that the NF is literally suing coinbase over using the word Nano? What about the fact that the NF and its overly enthusiastic community hyped up a bunch of use cases or adoptions, call it what you will, that all turned out to be nothing. Let me refresh your memory: 465di ❌ Dead after 2+ years with no updates. Flowhub ❌ Seemingly dead, at least for the foreseeable future by Kyles own admission. Razer ❌ Quite possibly never happened. Reportedly under "NDA", no updates in almost 2 years. Coinbase Listing ❌ Now in legal battle with CB, likely to lose, listing also likely off the table forever. Kappture ❌ No updates since late 2021. No real world traction. Poki ❌ Believe this never made it out of the "maybe this is kinda interesting" hackathon type project stage, but correct me if I'm wrong. Unnamed FX project ❌ See 465di. Amazon/AWS ❌ Was never anything more than a LinkedIn post. CoinCloud ATMs ❌ ? CoinCloud is still active but as of June 2023, Nano is not listed on their website as a supported currency. Need to confirm if still supported to be sure. Appia ❌ Dead, last update almost 2 years ago. XNOPay ❌ ? Website still states 'coming soon' as of June 2023.

Smiling_Jack_

https://support.kraken.com/hc/en-us/articles/201352466-How-to-buy-and-sell-cryptocurrencies-and-FX-on-Kraken

TheHoodOG

Before or after you told her?🕺 

4bidden450

Don’t pay fees to on ramp. You can walk into hundreds of thousands of MoneyGram locations and hand them local currency and immediately get USDC deposited into your Stellar wallet (1:1 no fees in US, no fee but FX spread elsewhere). You can then transfer to Coinbase or any other CEX that supports Stellar USDC.

coinfeeds-bot

tldr; Quick Take A potential global currency crisis is materializing, characterized by escalating FX movements. The DXY index, a measure of the U.S. dollar’s value relative to a basket of foreign currencies, has exceeded 103 – a peak unseen since July’s dip below 99. Concurrently, the GBPUSD has recoiled to 1.26 from a peak of 1.31. […] The post Dollar surge rings global currency crisis alarm as BTC holds strong appeared first on CryptoSlate. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*

lucho_p_12

Just.. look at this pair and you will understand. [https://www.tradingview.com/chart/?symbol=FX\_IDC%3AUSDARS](https://www.tradingview.com/chart/?symbol=FX_IDC%3AUSDARS) This is the power of printing money, in the hands of corrupt politicians year, after year. Argentinians have in their possession around 250 million USD in physical for a reason.

coinfeeds-bot

tldr; Claims about crypto exchange Huobi’s financial health and its executives’ legal entanglements have fueled market speculation over the weekend. Huobi has been witnessing continued outflows from its total locked-up value (TVL), dropping to $2.4 billion from a level of $3 billion in July. As reported by FX168 Financial News, there have now been rumors that […] The post Huobi insolvency rumors as USDT reserves decline on all exchanges except Binance appeared first on CryptoSlate. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*

GranPino

Not even 1000$ would be enough to be really a global asset. Only 250k tx per day. Only in the FX market, everyday there is 6.6 trillions in movements. Even if bitcoin only processed 1% of that amount, it would mean 66b, or 26,400 USD on average per tx, assuming that nobody is using bitcoin for anything mundane Do you want bitcoin to be the currency of the 0.1%? Really? The fact that you believe DOGE and LTC has any real future filling the gap, although they have less daily tx than years ago, it’s very naive. Do you realize that peak daily tx of DOGE was almost a decade ago? Doge only has a value as a meme coin that can be pumped again with Elon Musk Reality is barely anybody is using any of those coins for daily tx. Most of the people invest and hold, mostly using exchanges because they don’t want to actually interact with the blockchain. Unfortunately too many people hold unrealistic expectations about their own pet projects. Including myself

ColdColdMoons

As a trader, I can say fee free payments boost profitability trading 100x. If everyone used it as a currency FX traders would make a killing. Nano is profitable as a currency. The reason it is being silenced is a lot of money is against it. Plenty of people want to buy it or a searching for fee free coins. We have to start talking about the source of our problems. Shadow banning and deboosting. Instead of promoting fee free coins I will spend all my energy and my money calling this out. If Twitter censors me for it, I will find another way. This tech should not be silenced.

mikeb550

Pick your favorite fiat currency and use the appropriate FX rate to convert the entire worlds wealth into.

tchuckss

It's actually a coin. Made of bits. So it's currency. Trading bitcoin is now FX.

5alzamt

Thats a goos question. What does crypto exist for? What is its purpose? I view blockchain technology as a tool to remove the reliance on trusted third parties, increase speed, reduce transaction cost for simple (send money) to more complex (e.g. derivatives) transactions. I am totally convinced that the technology can serve many more purposes (efficient way to administer land register, concert or airline tickets, proof of origin of goods, …) All of this is done faster, and with less cost on Algorand compared to other chains. Bitcoin maxis will say it has to be a „store of value“. Well BTC value has proven to produce wild and unpredictable swings, too. As long as holding a token does not let you participate in a cash flow or represents ownership in something which represents value outside crypto world it is solely dependent on the hope someone will be willing to pay you a higher price to buy it from you in the future. In the absence of a central bank which holds FX reserves or gold and general adoption as legal tender it resembles participation in a ponzi scheme more than being proper „store of value“. We need more real life application of blockchain technology. This will create demand for the native token of the chain to pay for transaction fees. Chains on which more real life applications are built will thrive and their tokens will be a better long term investment than crypto which remains stuck in the proof of concept phase where we currently stand.

Qwahzi

I haven't been downvoting you, I appreciate the good discussion! I brought up the confirmation time mainly because of volatility. Prices don't usually change significantly in 500ms. Besides, even with market maker fees, transaction cost can be [<0.4%](https://twitter.com/mira_hurley/status/1654438032915701762) Of course most of crypto is too small for some large institutions & large transfers, but that's solved by time & adoption. That doesn't stop people from starting with smaller usecases (e.g. personal remittances) I don't think the world will operate on a single crypto, but I do think that cost & speed matter. There will always be a niche for 0 fees + <500ms full settlement. Imagine if there was an exchange and/or FX operator that settled in Nano - nothing else would be able to compete on cost or speed Here is an example of using Nano to convert to Nigerian Naira at the local rate - funds in the bank account within 10 minutes: https://twitter.com/mira_hurley/status/1653419450740224002