Thread: RIP Bitcoin

Bitcoin tests a key level as the cryptocurrency falls below $33,000

The price of bitcoin slumped to a pivotal level after it fell to a two-week low early Monday.

Bitcoin hovered around $32,000 range throughout the day, down 50% from its April all-time high, following news that China has intensified its crackdown on crypto mining operations. Its central bank also ordered Alipay and other major financial institutions to de-risk cryptocurrency businesses.


The notoriously volatile cryptocurrency has struggled to reclaim its highs from earlier in the quarter.

The price first fell to $32,000 in early June and has been on a rollercoaster ride before briefly touching $40,000 last week ...

Bitcoin tests a key level as the cryptocurrency falls below $33,000

Originally Posted by David48atTD

China’s renewed crypto crackdown wipes nearly $300 billion off the market as bitcoin slides

Key Points

• China’s renewed crackdown on the cryptocurrency industry has wiped off nearly $300 billion in value off of the total digital currency market since Friday.
• Bitcoin, ether, XRP and other digital coins fell sharply.
• On Friday, authorities in China’s Sichuan province, ordered cryptocurrency miners to shut down their operations.
• The People’s Bank of China urged financial institutions not to provide services related to cryptocurrency activities.

China crypto crackdown wipes nearly $300 billion off market, BTC slides

What's the betting Mr. Shithole and his buddies are all diving in while it's low?

Originally Posted by harrybarracuda

What's the betting Mr. Shithole and his buddies are all diving in while it's low?

I wouldn't bet anything on that.

Originally Posted by harrybarracuda

What's the betting Mr. Shithole and his buddies are all diving in while it's low?

That's no way to talk about our Eddie

Fantastic time to buy.

not yet lu. will still go down. methinks

McAfee won't be eating his dick after all.

RIP.

Originally Posted by lob

not yet lu. will still go down. methinks

Note that its future looks so bad now that he's not even bullshitting about buying more.

Originally Posted by Edmond

McAfee won't be eating his dick after all.

do you know what killed him ?

if might have been him eating his own dick

True

Will have to watch that docu movie about the nutter again

Originally Posted by cyrille

buying

Sold some at 50, bought back at 32 yesterday. :-)


Fun.

^ That looks like the same template you use in the show us your gay workout thread

OOh, did it get a bit muddy too? *giggle*

I don't know where they think they are going to hide, monied or not.

Up to $3.6bn in Bitcoin has disappeared from a South African cryptocurrency investment outfit as well as the two brothers who ran it.

Africrypt, led by founder and CEO Raees Cajee and his sibling and COO Ameer, claimed two months ago it had been hacked and had to halt its operations. The biz also urged its investors – said to include celebrities, the rich, and the like – to keep quiet and not alert police as doing so would apparently derail the process of recovering any coins stolen from the biz's digital wallets.

A group of 20 or so of those investors have since hired a law firm to investigate the fiasco, and obtained from the South African courts a provisional liquidation order against Africrypt. Raees, 21, and Ameer, 17, have until July to appeal against the order, though we note they have essentially vanished.

And that’s not the only thing that has gone missing: some 63,000 Bitcoins, valued at nearly $4bn at the time they disappeared from Africrypt's wallets, according to South Africa's ITWeb this month. The publication was unable to obtain any comment or explanation from the siblings. The company's compliance officer reportedly said he didn't know for sure what had happened nor where the brothers were.

Africrypt's business model may not come as a surprise: it persuaded investors to hand over six or seven-figure sums, and promised them as much as ten per cent daily returns by investing the cash into crypto-coins.

In a memo to investors on April 13 before evaporating into thin air, the Cajees said "it is unknown to us the extent of personal client information breached during the attack," and they promised to keep all informed if they was able to pull back any "stolen funds and compromised information."

Then communications dried up, and that set alarm bells ringing. The company's tech staff also found themselves unable to access Africrypt's back-end systems a week before the alleged security breach, according to Bloomberg.

The website of the investment startup, which was founded in 2019, has also been taken down. It’s rumored the brothers have fled to somewhere in the UK.

The lawyers hired by the investors found, through blockchain analysis, that coins from Africrypt’s wallets had been run through Bitcoin mixers and tumblers to hamper any further tracing. Cryptocurrency exchanges were said to be on the look out for any signs of anyone trading the coins.

South Africa's financial watchdog, the Financial Sector Conduct Authority, is said to be mulling an investigation into Africrypt, with the main hurdle to launching a probe being whether or not the regulator can find any actual legal jurisdiction over the biz and its crypto-based offering.

Three things that have vanished: $3.6bn in Bitcoin, a crypto investment biz, and the two brothers who ran it • The Register

Originally Posted by Eddo Cheddo

Sold some at 50, bought back at 32 yesterday. :-)

Oh. If I know this was gonna upset Buy at 18 sell at 5 watch it go to 60 Dill and Old Woman Sybz, I wouldn't have mentioned it.

Originally Posted by harrybarracuda

Africrypt

Sounds like a necro website for Seth Efkin perverts.

Originally Posted by Edmond

Oh. If I know this was gonna upset Buy at 18 sell at 5 watch it go to 60 Dill and Old Woman Sybz, I wouldn't have mentioned it.

Like the stagnant old loser in Ladbrokes who tells any fucker who will listen about his wins but never his losses, Edmong takes it a step further with his tales of African student girlfriends from Craigslist Personal ads,
one up one down ruxury housing on the outskirts of Chiang Ding-dong, no expense spared minivan trips to Bang Saen and Hot wheels ferrari collection in his McAfee-esque self-cock-fellating wonderland

Originally Posted by Edmond

If I know this was gonna upset...

klondyke's obviously doing well with those skype lessons.

Originally Posted by Edmond

Oh. If I know this was gonna upset Buy at 18 sell at 5 watch it go to 60 Dill and Old Woman Sybz

Oh look, here they are now.

You old timers know all this ... but for the Newbies

PART 1

PART 2

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Beginner s guide to mining Bitcoins: How to mine Bitcoin step by step - Blog MasterDC.com

LONDON (Reuters) -Britain’s financial regulator has said Binance, one of the world’s largest cryptocurrency exchanges, cannot conduct any regulated activity and issued a warning to consumers about the platform, which is coming under growing scrutiny globally.

In a notice dated June 25, the Financial Conduct Authority (FCA) said Binance Markets Ltd, Binance’s only regulated UK entity, “must not, without the prior written consent of the FCA, carry out any regulated activities… with immediate effect”.

It also issued a warning to consumers about Binance Markets and the wider Binance group.

Britain bans Binance's UK ops in latest cryptocurrency crackdown - Metro US

I wonder if they realise that multiple instant swap crypto platforms source from binance ?

it seems to me, that a lot of the negativity ref crypto, is its volatility. wots rong with so called volatility. i love it . on crypto and the set. i see it as an opportunity.