#News #Bitcoinnewhigh #ChinaCryptoban China Warns of Bitcoin Risks as Crypto Surges to New Highs: A state-owned Chinese newspaper cautioned investors about the dangers of bitcoin and reiterated the country’s ban on crypto trading, while bitcoin soared above $60,000. As bitcoin reached new record levels, a Chinese state-owned media outlet issued a warning to investors about the risks and challenges of the cryptocurrency. Economic Daily, a newspaper affiliated with the […] The post China Warns of Bitcoin Risks as Crypto Surges to New Highs appeared first on Coinscreed.
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It is appropriate or even urgent for State to alert and remind its citizens about the pitfalls and risks of entering a market rally that too for a high risk investment like Bitcoin ‐‐----- Bitcoin’s recent rally has sparked renewed warnings from Chinese state media about the risks of investing in cryptocurrencies, as interest around digital assets remains strong in the country despite a sweeping ban on crypto mining and trading.A rebound in bitcoin prices cannot “hide” the underlying risks of the digital asset, state-owned newspaper Economic Daily said on Sunday. ------ https://lnkd.in/ggrvhN42
Chinese state media warns against cryptocurrency as bitcoin rallies
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The Asian cryptocurrency market is witnessing a resurgence as South Korean crypto exchange Upbit secures a position among the top five global exchanges. Recent reports indicate that the Korean Won has overtaken the USD as the most-used fiat currency for trading BTC and other digital assets. Key Takeaways - Upbit now ranks among the top five global crypto exchanges.
Upbit Joins the Elite: Challenges Binance and Coinbase in Top Five Crypto Exchanges - EarlyMinter
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The Asian cryptocurrency market is witnessing a resurgence as South Korean exchange Upbit secures a position among the top five global exchanges. Recent reports indicate that the Korean Won has overtaken the USD as the most-used fiat currency for trading BTC and other digital assets. Key Takeaways - Upbit now ranks among the top five global crypto exchanges.
Upbit Rises to Top Five Crypto Exchanges, Challenging Binance and Coinbase - EarlyMinter
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The Asian cryptocurrency market is witnessing a resurgence as South Korean crypto exchange Upbit secures a position among the top five global exchanges. Recent reports indicate that the Korean Won has overtaken the USD as the most-used fiat currency for trading BTC and other digital assets. Key Takeaways - Upbit now ranks among the top five global crypto exchanges.
Upbit Joins the Ranks of Top Five Crypto Exchanges, Challenging Binance and Coinbase - EarlyMinter
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Working on something related to crypto, found a Wired article in July stating that ‘the US government owns more than 210,000 bitcoins that were seized via illegal operations like the online dark market Silk Road and the Ponzi scheme BitConnect’. As they are Wired, we wouldn’t expect them to note that Bitcoin itself is a Ponzi scheme. The late great Charlie Munger suggested that Bitcoin would be more accurately described by replacing ‘bit’ with a rhyming term that's commonly used for feces. "It's like somebody else is trading turds and you decide, ‘I can't be left out.’" 2,500 years ago, Confucius suggested that one of the most important things we can do in this world is to ‘rectify the names’. The crypto subverse has foisted upon the world another misnomer: ‘mining’, as a description of the creation of crypto. Mining properly refers to digging something out of the ground that already exists. Crypto doesn’t exist before some yahoos burn up a lot of electricity and programming time running a computer bank to ‘create’ it. No, the proper term for crypto creation is ‘cooking’ – creating something new through the application of heat, in this case in the form of electricity. ‘Cooking’, as in the manufacture of meth, with which crypto shares a few features. https://lnkd.in/gfJ99UmR
Charlie Munger Was Disgusted By Cryptocurrency, Deeming It Immoral And Worthless: 'It's Like Somebody Else Is Trading Turds And You Decide, I Can't Be Left Out'
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The Asian cryptocurrency market is witnessing a significant shift as South Korean crypto exchange Upbit has secured a spot among the top five global exchanges. This development positions Upbit as a formidable competitor to industry giants like Binance and Coinbase. Key Takeaways - Upbit now ranks among the top five global crypto exchanges.
Upbit Joins the Elite: Challenges Binance and Coinbase in Top Five Crypto Exchanges - EarlyMinter
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Hong Kong regulators may implement staking on Ethereum-ETFs this year According to Blockdaemon head Andrew Vranjes, Hong Kong regulators could ratify the steaking feature on spot Ethereum-ETFs as early as this year. This would be a further step for the region on its way to becoming a global cryptocurrency center. The specialist emphasized that his company actively interacts with clients and regulators. At the same time, many users are just interested in the function of steaking on spot funds. Despite the initial hype around spot Ethereum-ETFs in Hong Kong, their results were quite modest. They can't even be compared to what is happening in the US fund segment. However, this is not surprising because the Hong Kong market is considered to be relatively small. The key event of the current week was the Fed meeting. According to its results, the American regulator reduced the refinancing rate by 50 basis points at once. The cryptocurrency market reacted to this event with a sharp growth. Initially, most market participants assumed that the rate would be reduced by 25 basis points. However, the Fed's decision exceeded investors' expectations. The main digital currency rose sharply in price, confidently fixing above the round mark of $60,000. This was followed by growth, against which the quotes reached the level of $62,000. However, it should be noted that the spot funds on bitcoin lost more than $52 million. If we talk about funds on ether, they continue to actively lose money. Over the past 24 hours, users withdrew almost $10 million from them. It is also noteworthy that over the previous 24 hours, the total capitalization of the cryptocurrency market has grown by almost $100 billion. At the moment, it is estimated at more than $2.1 trillion. In turn, the capitalization of bitcoin is $1.2 trillion.
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The cryptocurrency market has faced a significant downturn recently, with major digital currencies like Bitcoin and Ethereum witnessing a sharp decline in value. This decline has raised concerns among investors and market analysts about the future of cryptocurrencies. Bitcoin dropped below $20,000 per coin, hitting its lowest level since November 2020. Ethereum also saw a […]
Digital Money Drops Amid Rules Chaos | US Newsper
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The cryptocurrency market has faced a significant downturn recently, with major digital currencies like Bitcoin and Ethereum witnessing a sharp decline in value. This decline has raised concerns among investors and market analysts about the future of cryptocurrencies. Bitcoin dropped below $20,000 per coin, hitting its lowest level since November 2020. Ethereum also saw a […]
Digital Money Drops Amid Rules Chaos | US Newsper
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