Coinbase is opening the floodgates. Watch out. https://blog.coinbase.com/coinbase-institutional-deea317d23af
It's funny how all this legalized betting is getting hyped up on NYC sports radio when it won't change much of anything. What would really move the needle is a decentralized blockchain betting engine. You would need a network of line setters who would set the bet and confirm the outcome, but there would be no bookie or government involved. People would pay bitcoin upfront, and bitcoin would automatically be released to the winners. The only catch is you would have to have a counter bet for every wager so the payout is guaranteed. So for a 2-1 bet you would need two people on one side and one on the other to confirm three wagers. The setters would get a tiny mining fee. But the result is tax free, interference free betting on anything like making a shot from the free throw line or the number of inches of snow at a Bills game in December, pretty much whatever someone wants to bt on. Or this would work even better as a blockchain lottery or virtual slot machine. People pay to "roll" based on fixed odds and the random number generator eventually pays out. Blockchains can cut the government out of so many things
There are dApps out there that do this stuff with ETH smart contracts. example: https://sportcrypt.com/trade/browse/all Most people still aren't really aware of the crypto space. The sports betting rule is going to move money out of Vegas and distribute it across the country. The biggest needle moving there is the loss in Vegas but the states will gain business and tax revenue to waste on bullshit.
https://www.bloomberg.com/news/arti...ion-is-said-to-be-focus-of-u-s-criminal-probe I imagine this will continue to push the price down.
I've been filling some bags while the market moves sideways here. Looking to mix it up into something smaller that has potential. Any shillers want to shill me on some shit?
Pretty big news - confirmation that tether has more USD in banks than issued tether. https://tether.to/wp-content/uploads/2018/06/FSS1JUN18-Account-Snapshot-Statement-final-15JUN18.pdf
I could swear I read very recently that some Bitcoins were hacked to the tune of millions upon millions. Maybe a week ago? As in a big, major, super hack theft. Unclear if they just wanted to see if they could do it, or if they're somehow going to manage to get away with it. EDIT: Coinrail, that's it. It wasn't Bitcoin, though. It was the theft of other cryptocurrencies that made Bitcoin plunge. I think something similar happened in Japan a few months ago as well.
This thread originated from a huge bitcoin exchange hack. People keeping large amounts of any coin on an exchange are asking for trouble. Be your own bank.
Looks like we found a bottom around 6k and are now heading the other direction. There's what seems like a good chance one or more ETF's will be approved by the SEC late summer, early fall which would be pretty huge. Hopefully soxxx didn't hang himself already.
No Ive been through bear markets before, this hasnt been to bad. It actually broke the 4 month down trend line yesterday, Im not ready to say we are back in a bull market again but its getting there. I believe its past 20k by years end, actually upward of 50k. I dont think 100k is happening this year but its just a minor setback, im in it for the long term anyway. The ETF decision is on August 10th, I think we will be past 10k at that point, perhaps near 12k.
