Crypto thread

Crypto exchange FTX has announced an endorsement deal with Tom Brady & Gisele Bündchen.

Both Brady & Bündchen will receive equity in FTX and a signing bonus in crypto.

In total, FTX has committed to spending over $350M on sports partnerships in the last 6 months alone

I know this is happening already but I am a little surprised a significant move hasn't happened yet.  

How do people in China get around the crypto ban? It can’t be as simple as just using a vpn? 

Im pretty retarded in this area ... can anyone explain like I’m 5? 

Im curious if they’ll just use a vpn and decentralized exchanges like Uniswap. Or if the restrictions in China will make things more difficult? 

I think they’ll stay in crypto. I’m trying to figure out what path they’ll take. Because I think investing in that path somehow is the way to go. 

WallStreet knows this stuff pretty good but he’s mad at me because I’m hostile 

"We've gotta keep pace with China. China is close to banning all cryptocurrencies. ... If we fail to keep up with China we will fall behind."

-Brad Sherman, US congressman (Democrat) 

@I_Need_A_Detox

 We all should know BTC is the new chinese currency. They are not as backward as American think they are. Don't believed me? All those sports betting sites in the past years adopted Bitcoin before it was all time high. Plus, Binance probably the largest exchange of all is also originated from China. I am pretty sure there are plenty big whales there to manipulate crypto price.

A lot of the mining farms over there have been shut down. Riot, Hive, and Mara will benefit. 

Public mining companies are in a really interesting spot right now. Share prices are highly correlated to bitcoin. But their profitability should go up (with all other miners) even though the cryptocurrency market is still down bad. We'll see if shareholders understand this. 

How many people understand hashrate? How many stock people understand that with the China ban shutting down so many mining farms the remaining farms will now get a larger piece of the bitcoin pie? 

Probably a good bet. 

Riot $37 

Hive $3.54 

Mara $31.37 

JPMorgan says Ethereum upgrades could jumpstart $40 billion staking industry

https://www.forbes.com/sites/emilymason/2021/07/01/jpmorgan-says-ethereum-upgrades-could-jumpstart-40-billion-staking-industry/

Visa says crypto linked card usage tops $1 billion in first half of 2021 - CNBC

INAD, besides UNI and ATOM, anything else your interested in? That UNI was a nice call. Thanks  

I’m interested in FTT but waiting to get a better price. I think the exchange FTX will start taking over in the US. 

The owner was the 2nd biggest donor to Bidens campaign and I expect them to cash in on that in the next year or two. 

Other than that just waiting. I’m afraid of $30k breaking and everything going to hell tbh. 

I’ll be more comfortable with BTC over $40,000 and trending up. 

Do you have a price point you’d get in?

I’d like to BTC pumping and alts getting no love or dumping. Basically what we saw when bitcoin went on it’s big run. If that happens I would start going in on alts again. 

Peter Thiel-backed crypto firm Bullish to go public in a $9 Billion SPAC merger

https://www.bloomberg.com/news/articles/2021-07-09/thiel-backed-crypto-firm-to-go-public-in-9-billion-spac-merger

I'm a dinosaur... where can I read about crypto in layman's terms... I have no clue about this...thank you in advance

Sometimes this coming wk I believe Apple will announce they bought some BTC and that might help kickstart crypto market rally, at least I’m hoping it will.

Grayscale also has 16000 BTC being unlocked on July 19th. Lots of speculation that we could see a sell off to 25-29k and after we will see the next run to all time highs. Lots of shorting going on looking at the chart. On chain metrics need to improve as well after miners were forced out of China. Hash rate is the lowest it has been since 2019. Once the network strengthens back to earlier levels, we should be able to get back to previous levels.

I’d say volatility is coming and my guess would be to the downside 

Shorting btc here at $32,850 

Don’t think tapping support 10 times is bullish 

Plus I’m bored 

I got in earlier this week large (for my standards) at 33,600. Shucks. 

Alldub, I’ve been following crypto on Twitter for 4 years now and I think one of my only advantages now is I know who is a good trader (not many) and who is full of shit. 

@CanteringClark is almost always right. 

He went short so I went short. 

Of course he could be wrong but I suggest giving him a follow. 

I’ll check him out. Thanks man. 

Powell: Stablecoins Are Like Money Market Funds, Other Investments, But Without Regulation