Crypto Ocean

2023-06-08 13:42:42 Why crypto?

Crypto offers:
Clear and open rules for everyone
Free access to the financial system for everyone

Fiat currencies like dollars and euros and all that are managed by Central Banks with unclear and non-transparent rules.
Whose interests are they serving?

In recent years, an unprecented amount of money was printed. And they might start the printing again.

Nowadays, you need to make 15% more every year to outrun the money printing press.
But that's only possible for the rich, while average folks in traditional markets don't have that chance (unless they get lucky).

Bitcoin, as the most popular and largest (for now) crypto, solves this issue.
It has a max supply of 21 million, which is part of its protocol – no more Bitcoin after that.
Sure, it can be changed, but it's a super complicated, and transparent process that needs approval of loads of participants.

Even better, crypto allows anyone anywhere to access the financial system for free. It also cuts out middlemen, giving people the maximum profit.

Crypto_Ocean Open / Comment

2023-06-08 13:00:01 Crypto speak: Looks rare

“Looks rare” is an ironic way of saying that your NFT may be valuable (without actually knowing it).

Since the value of most NFTs is determined by their rarity, the one that looks rare and is rare could bring you profit.

Therefore, you can go to social networks and brag about your NFT with the comment “looks rare,” hoping it is true.

By the way, a competitor of the most popular NFT marketplace, OpenSea, called Looks Rare, used this meme to launch its token.

Crypto_Ocean Open / Comment

2023-06-07 18:01:33 SEC attacks are a step toward digital currency adoption

Cardano founder Charles Hoskinson said that the SEC's case against Binance is motivated by the regulator's "political opposition" to the very existence of cryptocurrencies.

The SEC's attacks are a step in the implementation of "Checkpoint 2.0." The final step in this "program" will be the adoption and launch of a central bank digital currency, Hoskinson believes

Crypto_Ocean Open / Comment

2023-06-07 16:46:16 What is volatility?

In the context of crypto, “volatility” describes the ebbs and flows of cryptocurrency prices. High volatility is a hallmark of the crypto market, whereas traditional stock exchanges are relatively stabler.

The following has a profound impact on volatility:

— Market sentiment
— Liquidity
— Speculation
— Regulation
— News.

However, myriad other unpredictable factors may also impact volatility

Therefore, investors of all levels should take into account influencing factors that could sway the markets to reduce risks.

Crypto_Ocean Open / Comment

2023-06-07 16:02:01 Court grants SEC request to freeze assets of Binance US

The exchange was ordered to return all fiat currencies and cryptoassets to customers within 10 days.

In Binance US itself say that the input and output work in normal mode

Recall that Binance.us and Binance.com are different platforms. Binance US is set up for US customers with regards to legal requirements and it has a limited choice of coins and trading instruments

Binance.com is working in normal mode according to CZ

Crypto_Ocean Open / Comment

2023-06-07 14:23:02 “We need to educate governments that bitcoin is bitcoin and everything else is something else. All of them, except for bitcoin, are securities,” Samson Moe.

Crypto_Ocean Open / Comment

2023-06-07 11:15:00 MicroStrategy is near the breakeven line for its bitcoin assets at the current value of BTC

Crypto_Ocean Open / Comment

2023-06-06 20:46:30 SEC challenges cryptocurrency and Coinbase responds to lawsuit

Speaking on CNBC, SEC head Gary Gensler said:

"We don't need more digital currency. We already have a digital currency. It's called the U.S. dollar. It's called the euro. It's called the yen. They're all digital now."

Coinbase responded to the lawsuit filed by the SEC by stating that they will continue to do business as usual.

Coinbase has 28 days to prove that it did not violate securities laws.

Crypto_Ocean Open / Comment

2023-06-06 17:12:01 Bloomberg analyst predicts crypto's fall
⠀
Bloomberg Intelligence analyst Mike McGlone suggests that the worst days are yet to come for Bitcoin. Based on current trends and the actions of the Federal Reserve, he sees a downtrend for Bitcoin.

He also points to a possible further drop in the price of Bitcoin. At the end of 2019, the cryptocurrency was trading around $7,000, after which its price soared. Now, Bitcoin's value is around $25,000-27,000, indicating a 52-week average decline.

Mike McGlone notes that Bitcoin's recent price swings, when it dipped to $15,000 in 2022 and rose to $30,000 in April, are similar to historical ups and downs caused by changes in liquidity. That's another factor that could speak to the cryptocurrency's possible decline in value.

McGlone doubts Bitcoin's ability to withstand a shrinking U.S. economy because the cryptocurrency is relatively young and considered a high-risk asset.

Do you believe in Bitcoin's growth?

Yes -
No -

Crypto_Ocean Open / Comment

2023-06-06 14:42:01 BTC volatility is lower than Meta and Amazon, but higher than gold and Apple

Volatility shows the rate of change in the price of an asset over a period. The higher it is, the more the price can change and the riskier the investment in this asset

The value of the average 30-day volatility:

Gold - 15%
Apple - 23%
Bitcoin - 32%
Amazon - 40%
Meta - 49%

Crypto_Ocean Open / Comment