Lagi senang mau cuci duit ini machiam lo, no need mossack fonseca di

But why only USDT gets the flak? Wouldn't USDC, DAI and all the rest be just as risky?

Ah, ok. And thx for sharing, definitely food for thought. Fair enough, the risk could potentially be more detrimental to usdt vs usdc. However, the way the knock on effect would work, if something like evergrande really hits the fan i honestly don't see anything being altogether safe. Having said that, I personally keep my stables in USDC and DAI, but accept the fact that if shit happens they all can go down. That seems rather morbid but its a risk that needs to be accepted.

We can all agree that USDT is highly questionable instrument to begin with, run by questionable ppl with questionable backgrounds (to put it mildly). Problem is it serves as a major backbone of present day crypto trading. If it sinks, the industry would take a hit too.

This is very true - u can't catch the bottom perfectly. The best thing to do is to buy in portions/batches while keeping an eye on the market. If u don't want to lose out, just DCA bit by bit, even now. Does it matter if the price is 50-60k, when one is anticipating an upside to 100-200k?

Senang cerita, u do this la if u r really concerned about missing out on the gravy train but still have qualms about high price: keep converting fiat to stable coin every so often, park the coins in an interest yielding account (typically stables would yield the most APY returns), have those returns be paid out in BTC or a coin of ur preference. These yield accounts usually pay out interest weekly, so u will be able to accomplish ur DCA, have stablecoins on standby in case market does dip to attractive levels, generate interest on ur coins AND not miss out. All done fairly autonomously. Good luck.

This post has been edited by pleasuresaurus: Oct 8 2021, 01:38 PM

Sleep la bro, market ain't running anywhere, bangun esok ada lagi 😅

I would assume that it shouldn't be an issue - u r a non-US citizen, utilizing a non-US platform exchange? If its really that much of an issue, just break it up into 2 tranches and wire it to an interest yielding acct, park it for a while to regenerate the coins lost to gas fees.

Wah, so spot on one! 😯

Yeh ur right. But hey, its teh internetz! Eberibody get to be wat they wantz kan?

I wish my elliot wave and fib retracement skills were up to snuff. Oh well....

I look at it this way la: there's now a significant amount of interest in crypto institutional players, and the composite man plays to win. We can see this fairly clearly in the way the price action responds to thenkinds of TA that composite man employs - elliot wave, wyckoff distribution, fib retracements. They're quite happy to sell to retail buyers at these price levels and earn their premium, stoking fomo, letting price go up further, profiting from it. And then orchestrate a price drop, wiping retail out and accumulate again once the dust settles at lower price levels. They'll never let retail win. I don't see this current peak season as the moonshot.

In light of this, I just let my existing positions ride, but I'm not opening any new positions until I see an attractive movement. Accumulate stablecoins, preseve capital, and earn interest while waiting.

Granted this is pretty much looking at the larger crypto assets like btc, eth, the smaller stuff and meme coins would work on different dynamics. YMMV. End of the day, trade safely n don't go all in with more than u can afford to lose.

Excellent case in point right here. What fuckwittery is this?!



Stoploss hunting at its finest. The game is rigged gents, but its the only game in town. Play wisely.

Good to see that price seems to hold around ATH range despite overall crypto market cap recede almost 200b from last night, very encouraging.

This post has been edited by pleasuresaurus: Nov 2 2021, 09:34 AM

Anybody following the DOT parachain auctions? What projects r u guys looking to support?

Not sure la tbh. Acala seems to be the main thing ppl r talking about, but Efinity looks good too

Like that means just leave it on exchange with a profitable stoploss n just let it run. But bear in mind, if got volatility means u might get closed out la.

This is actually a deceptively simple question but really tough to answer la tbh. My knee jerk reaction would be “ala, use common sense la” but that’s the thing, our points of view and sense would not necessarily relatable. I got into trading more than a decade ago studying Forex markets, making mistakes, learning the hard way, and can translate all that into crypto today.

In these days of fake news/hype/fomo-mongering, u really have to be critical of the media u consume. This is especially so in the crypto space. Otherwise, as bro ljken so aptly put, u will just become exit liquidity to someone else. Trading is a zero sum game – for u to win, some one else MUST lose. And knowing that the big institutional traders – whose job is literally to make money from markets and have every resource at their disposal - are now in the crypto space, they will be playing the game to win – at our expense. So. What to do?

Filter.

I will try to make this simple, maybe others can help chip in. First, u need to put in the time and learn the basics of trading, well. Understand the process, the underlying asset, the psychology, the market. U don't need to know everything, just enough to know what u don't know and where to find the info when u need it. If u find it too difficult or tedious, ur better of just dollar cost averaging rather than trading – safer and u will still end up with a good outcome over a long term period. Then, whatever media (vdo, audio, text) u consume on whatever subject also, u split into 2 categories:

1. Fact
e.g. sky is blue. world is round (flat-earthers assemble!). Bitcoin is deflationary. Proof of Stake uses less energy than Proof of work.

2. Speculation
e.g. Indicators say buy/sell/hold. TA says buy/sell/hold. This meme coin is gonna moon.

When u have enough knowledge to know what u don’t know, u would be able have a hunch what is real and what is sus. Somebody saying a token will be utilized in a certain manner and having numerous enefits its very different from saying a token is going to be onboarded by Visa or Mastercard and its gonna go boom – u will kknow that this needs to be critically viewed and verified.

Some legit crypto sources that are reliable: Coin Bureau (for vdos), CoinTelegraph, CoinDesk.

Good luck.

There's a Huobi Labuan? What is that?

They would still have time to contest and repeal this before it is legislated and implemented, much the same way as 6050I. But I'm not complaining, the screen is so gloriously red, I'm feeling wonderful 🤣 Time to warm up n standby the stablecoins.

Actually Luno, Remitano and other local exchanges aren't really the major issue - they appear in the MY system as far as IRB is concerned, are governed by the system and are compliant to the system. Hence when IRB officer sees a significant influx into an account and proceeds to investigate, they would clearly be able to see the detailed sum, number of transactions (to justify trade/non-trade) etc. Whatever happens between registered entities like local exchanges and banks are flagged and observable.

What WILL invite scrutiny, however, is monies appearing from nowhere deposited via P2P that cannot be explained or justified. Especially so if the transactions are large, numerous, repetitive, trigger's Benford's Law etc.. This, I think, is the bigger concern. Notice that "explained and justified" can be equally as gray as "occasionally and frequently". The officer's would do as they see fit and have a lot of leeway in exercising their authority in investigating matters. That's saying if they want to cari pasal, they can.

Ultimately, I agree, it's safer to just declare.

This post has been edited by pleasuresaurus: Nov 17 2021, 04:52 PM

If u held it for 4 years, it can be explained as capital gains from investment. Would make things easier if u have the transaction information still available. If the sum amounts to <MYR20k it shouldn't trigger red flags and you could probably stagger it into smaller chunks through out a period of time more easily. #NotFinancialAdvice