TheMotorcycleBoy wrote: Radical man!
Then presumably converted straight back into dollars so he can pay his mortgage, taxes etc?TheMotorcycleBoy wrote: The salary will be converted to Ethereum and Bitcoin, the statement added.
TheMotorcycleBoy wrote: Radical man!
Then presumably converted straight back into dollars so he can pay his mortgage, taxes etc?TheMotorcycleBoy wrote: The salary will be converted to Ethereum and Bitcoin, the statement added.
I guess so. Depends how persuasive he is. I certainly wouldn't want to mess with him.NotSure wrote:TheMotorcycleBoy wrote: Radical man!
Then presumably converted straight back into dollars so he can pay his mortgage, taxes etc?TheMotorcycleBoy wrote: The salary will be converted to Ethereum and Bitcoin, the statement added.
Well I hope he converted it quickly!TheMotorcycleBoy wrote:NYC Mayor Eric Adams to receive first paycheck in cryptocurrency via Coinbase
Jan 20 (Reuters) - New York City Mayor Eric Adams on Thursday said his first paycheck, to arrive on Friday, will be automatically converted into cryptocurrency via Coinbase Global Inc (COIN.O).
The salary will be converted to Ethereum and Bitcoin, the statement added.
Indeed.Clitheroekid wrote:Well I hope he converted it quickly!
I don't entirely disagree, but as with many other posts on this sort of thing, you probably should look at other things in context. For example, I own shares in Fevertree, who just reported pretty good earnings (albeit their guidance was uncertain due to Covid) and they fell 20% yesterday and are down a further *% today - going from £28 to £20 in two days, or almost 30%. Similarly I have shares in ITM Power who just reported great results and a new contract signed just today - 5 days ago their shares were £3.20 - today they hit £2.30. At the beginning of January they were £4.12.Pendrainllwyn wrote:
but investing in a "currency" that can lose 26.7% (Bitcoin) or 36.3% (Ethereum) of its value in 3 weeks (these are 2022 YTD price movements) for no too obvious a reason is too speculative for me even if it might double in the next 3 weeks. The same goes for non fungible tokens.
Pendrainllwyn
How can a crypto currency, with no business, no company running it, no "owners", no employees, have "insider trading"?1nvest wrote:
Much of Btc seems to be ramping/dumping 'insider trading' that regulation would otherwise prohibit.
I cannot speak for 1nvest, but I assumed he was referring to the fact that there are a small number of individuals who hold vast amounts of BTC (known as 'whales'). They can trade between themselves and drive (manipulate) the market direction if they choose. This is apparently known to have happened in the past. Not sure if that is legal with shares? I would imagine this is even more true for 'altcoins', but I am speculating (no pun intended....).seekingbalance wrote:How can a crypto currency, with no business, no company running it, no "owners", no employees, have "insider trading"?1nvest wrote:
Much of Btc seems to be ramping/dumping 'insider trading' that regulation would otherwise prohibit.
If "manipulation" was possible as you describe, and they are trading amongst themselves, and each own large holdings, why would one side of that trade "allow" themselves to be manipulated against?NotSure wrote:I cannot speak for 1nvest, but I assumed he was referring to the fact that there are a small number of individuals who hold vast amounts of BTC (known as 'whales'). They can trade between themselves and drive (manipulate) the market direction if they choose. This is apparently known to have happened in the past. Not sure if that is legal with shares? I would imagine this is even more true for 'altcoins', but I am speculating (no pun intended....).seekingbalance wrote: How can a crypto currency, with no business, no company running it, no "owners", no employees, have "insider trading"?
AIUI, to start a cascade of panicky sellers so they can (both) mop up cheaper BTC. (Or vice versa - to generate FOMO so they can offload).dealtn wrote:
If "manipulation" was possible as you describe, and they are trading amongst themselves, and each own large holdings, why would one side of that trade "allow" themselves to be manipulated against?