Bitcoin vaults to 18-month highs on growing popularity

gotlost

Kap Chong R Us Member
Bitcoin vaults to 18-month highs on growing popularity





FILE PHOTO: A Bitcoin logo is seen on a cryptocurrency ATM in Santa Monica, California, U.S., January 4, 2018. REUTERS/Lucy Nicholson/File Photo



LONDON (Reuters) - Bitcoin jumped to its highest in eighteen months on Wednesday on safe-haven investment flows and growing expectations that Facebook’s Libra could turn cryptocurrency investments mainstream.



“It obviously does appear to be benefiting from some sort of flows that gold is benefiting too,” said Michael Hewson, chief market strategist at CMC Markets.



“You’ve got all this stuff about Libra going on which is renewing interest in bitcoin”.



Bitcoin traded last at $12,485 after reaching a high of $12,935 earlier in the Asian session. So far this year, the cryptocurrency has nearly tripled in value after being in the doldrums last year.



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-- © Copyright Reuters 2019-06-26

https://forum.thaivisa.com/topic/1108492-bitcoin-vaults-to-18-month-highs-on-growing-popularity/
 
If you like Bitcoin, up to you. Be aware it is not legal in many countries, however in Thailand it is legal but with bank cautions.
Legal / Banking ban

The initial position of the Bank of Thailand, mid 2013, was to discourage the use of bitcoin, however as of 2017, the Bank of Thailand is open to bitcoin provided proper controls are in place.[citation needed]

Thai based bitcoin exchanges can only exchange Digital Currencies for Thai Baht and are required to operate with a Thailand Business Development Department e-commerce license. They are also required to have KYC and CDD policies and procedures in place, in accordance with the Ministerial Regulation Prescribing Rules and Procedures for Customer Due Diligence, Reference Page 8 Volume 129 Part 44 A Government Gazette 23 May 2555 (2012).[89]

Suspicious activity must be reported to the Anti-Money Laundering Office (Thailand) (AMLO), of Thailand.[90]

The SEC Thailand encourages access to funding for businesses, including high potential tech startups, and realizes the potential of ICO in answering startups’ funding needs. In cases where an ICO constitutes offering of securities, the issuer will need to comply with applicable regulatory requirements[91]

The SEC Thailand issued a Public Consultation Document Aor Tor Ngor 34/2560 27 October 2017 Topic: Regulatory approach on Initial Coin Offering (ICO)[92]

As of February 2018 the Thai central bank has prohibited financial institutions in the country from five key cryptocurrency activities. These include 1) Investing or trading in cryptocurrency 2) Exchanging cryptocurrencies 3) Creating platforms for cryptocurrency trading 4) Allowing clients to use credit cards to buy cryptocurrencies 5) Advising customers on cryptocurrency investing and trading. Banks complying with these new rules include Bangkok Bank, SIAM Commercial Bank and Krungsri.[citation needed]
 
FOMO is great.

Keep it up GL:hearteyes::hearteyes:,

I have been asked by 10 people on Twitter this week how to get into Crypto, the virus is spreading. My mining contracts, I recently bought several more, are returning huge profits (huge like over 400%).

So glad I didn't listen to the experts on Surin Farang.

I filled my bags in January at $3500. This monopoly money has gone up 19.3% since someone called it monopoly money last Friday. I believe it is the future, you are all welcome to believe what you want. It is now $13,400, I expect a pull back soon. I'll make no more comment on this thread.
 
Pointless bragging.
"I have been asked...10 people" !!!
"Returning huge profits" !!!
"I filled my bags"!!!

I'll make no more comment on this thread....
 
Bitcoin made news recently by surpassing the $11,000 price barrier, up from under $1,500 at the start of 2017.

That's the good news—if you own Bitcoins. The bad news is that there are unique ways you can lose money—and indirectly lose critical personal data—when trading Bitcoin, if you don't know what you're doing.

Make no mistake, cryptocurrency trading is risky, security-wise, even as cryptocurrency advocates promote Bitcoin as a safe way to buy and sell goods and services. That's primarily because the investor usually has total control over transactions, with no central authority.

"Unfortunately, many people assume that digital Bitcoins are somehow more secure than regular financial transactions," says Jack Miller, chief information security officer at SlashNext, a Pleasanton, Ca.-based provider of Internet access protection systems. "But cryptocurrencies are actually riskier because there are no authorized regulatory bodies to regulate these digital financial transactions."

Andrew McDonnell, president of AsTech, a San Francisco-based security consultancy firm, notes that "holding bitcoin requires maintaining the confidentiality of a Bitcoin address' private key," a secret password, stashed in a digital wallet, that allows cryptocurrencies to be transacted and spent.

"Bitcoin hacking is a popular criminal enterprise because if that key is compromised, the attackers can send all of the victim's Bitcoin to themselves or an intermediary or simply delete the key and digitally eliminate the Bitcoin," he says.

Bitcoin exchanges have been tempting targets for these attackers, as their digital wallets often manage vast sums of the cryptocurrency.

The infamous Mt. Gox exchange data breach of 2011 triggered a reported loss of approximately $450 million worth of Bitcoin in 2014, partially through the compromise of investors' wallets and keys. At the time, it was estimated that Mt. Gox processed 70% of all Bitcoin transactions, McDonnell notes.

A big key to better understanding Bitcoin security is knowing where hackers are targeting their attacks, says Jared Nishikawa, director of immersive programs at SecureSet, a Denver, Col.-based cybersecurity academy.

"As with nearly every major cryptographic attack in recent history, including SSLStrip, Heartbleed, and Padding Oracles, 99% of the time, hackers are not attacking the underlying cryptographic algorithms," Nishikawa says. "Instead, they are attacking vulnerable implementations of these algorithms."

Nishikawa says there are multiple known cases of cryptocurrencies being "hacked."

"In the case of Mt. Gox, hackers exploited a bug in the wallet software to gain access to private keys," he says. "This almost certainly involved a rogue employee or physical theft of some kind."
 
Hmmm @mario299 , your post reads as the best way to make a windfall. ;)

I'm just wondering if each bitcoin is 'encrypted' then when you buy something wouldn't the encryption be "tagged" by the bitcoin-exchanges at the time of transaction as stolen bitcoins ?

Unless I'm purchasing illegal items how do I cash in my stolen bitcoins ? :mask:

Oh well...I'll never hit that jackpot. I'm not big on sharing cots with strangers behind prison walls.
 
@Coffee: I don't understand how you read that post as "the best way to make a windfall", as it was intended as a caution. It stated: "cryptocurrencies are actually riskier because there are no authorized regulatory bodies to regulate these digital financial transactions."

You might check with other posters regarding the "huge profits" to find your windfall, or a cot, whatever...
 
Here we go again, the self titled "Professional Technologist" and my stalker, jumping in with doom and gloom.

It won't ruin my day, have a great day fellas:grinning::hearteyes:

Go and look at some tittie pics......
 
Hmmm @mario299 , your post reads bitcoin hacking as the best way to make a windfall. ;)

I'm just wondering if each bitcoin is 'encrypted' then when you buy something wouldn't the encryption be "tagged" by the bitcoin-exchanges at the time of transaction as stolen bitcoins ?

Unless I'm purchasing illegal items how do I cash in my stolen bitcoins ? :mask:

Oh well...I'll never hit that jackpot. I'm not big on sharing cots with strangers behind prison walls.

@mario299 , I should have written bitcoin hacking in my post above.
 
Nomad 3 weeks ago it was $7700, so to be trading right now at $11800 is not a bad increase is it. If you read my first post in this thread, I said that I expect a pull back.

Guys, why all the negativity? It is almost as if you want Bitcoin to fail.

Well I don't think it will and nothing any of you old fellas on a tiny rural forum in Thailand say will change my view.

Keep happy boys, I am, because I'm heading home for 3 weeks today.

I hope you all have a blessed day:grinning:
 
@adam ,same shyte as my Amazon call in the $400's approx four years back.

You have to call your basis (buy plus reinvestment) price.
You only make your money when you sell.

If I recall your past posts correctly ('if') you were investing into the mining side of the cryptocurrency phenomena.
 
No worries as I purchased Halliburton at around the same time around $40 after a market pullback. I use my dividends to repurchase shares.

Now HAL is in the low $20's. As opposed to taking a loss against capital gains I'm contemplating buying additional shares for 5-year term looking ahead.

In the end it only matters when you sell.
Not everything in a portofolio hits a home run.
 
Here we go again, the self titled "Professional Technologist" and my stalker, jumping in with doom and gloom.

It won't ruin my day, have a great day fellas:grinning::hearteyes:

Go and look at some tittie pics......

Self titled is it? So what degree do you have?, and what in? I don't personally attack you. So pull your head in.
 
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