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Exploring Jamie Dimon's Views on Bitcoin and Cryptocurrency


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Table of Contents

Introduction

In this two-part video, we explore the views of Jamie Dimon on Bitcoin and cryptocurrency. The second part will be released once we reach 2,000 likes. In the second part, we will provide undeniable evidence of JP Morgan's active investment in cryptocurrency since 2016. We will also discuss five cryptocurrencies that they are purchasing. Additionally, we will expose Dimon's public lies aimed at manipulating public perception.

Understanding Jamie Dimon's views is important because he is a billionaire who recently shared his latest Bitcoin forecast. Dimon believes that if the bad use cases of Bitcoin cannot be solved, governments may be forced to shut it down. However, he fails to acknowledge that governments actually approve and hold Bitcoin.

In this section, we will begin debunking Dimon's statements. We will address his claim that Bitcoin is used for fraud, money laundering, tax evasion, and human trafficking. In reality, only a small percentage of money laundering cases involve Bitcoin. The dominant currency for money laundering is the US dollar.

Jamie Dimon's Predictions and Statements on Bitcoin

Jamie Dimon, the billionaire CEO of JP Morgan, recently shared his latest Bitcoin forecast. Dimon believes that if the bad use cases of Bitcoin cannot be solved, governments may be forced to shut it down. However, he fails to acknowledge that governments actually approve and hold Bitcoin.

Dimon's prediction raises several important points to consider. First, he mentions the potential risks and scenarios associated with Bitcoin. He highlights the use of Bitcoin for fraud, money laundering, tax evasion, and human trafficking. While these are real concerns, it is essential to note that only a small percentage of money laundering cases involve Bitcoin. The dominant currency for money laundering is the US dollar.

In addition to his concerns about Bitcoin, Dimon also expresses a lack of understanding of quantitative easing. He questions whether we truly understand how it works and its potential impact on the stock market. He also acknowledges the influence of political and global events on stock markets, such as the situation in Ukraine, terrorist activities, and quantitative tightening.

Dimon's cautious approach towards the stock market is evident. He mentions the addictive nature of stock market gains, fueled by fiscal and monetary stimulus. He believes that the stock markets may face challenges in the coming years due to various global factors, including political instability and elections.

While Dimon remains skeptical about Bitcoin, he acknowledges JP Morgan's active involvement in cryptocurrency. JP Morgan is actively investing in cryptocurrencies, including Bitcoin and Ethereum. They have even developed their own cryptocurrency, JPM Coin, which is based on the Ethereum blockchain.

In conclusion, Dimon's predictions and statements on Bitcoin highlight the potential risks and scenarios associated with the cryptocurrency. While he remains cautious about the stock market, he acknowledges the growing importance of blockchain technology and its potential applications. As with any investment, it is important to weigh the risks and benefits before making any decisions.

Dimon's Opinion on Bitcoin and Cryptocurrencies

Jamie Dimon, the billionaire CEO of JP Morgan, has expressed skepticism towards the usefulness of cryptocurrencies. He believes that if the bad use cases of Bitcoin cannot be solved, governments may be forced to shut it down.

However, it is important to differentiate between cryptocurrencies that have utility and those that do not. While Dimon raises concerns about Bitcoin being used for fraud, money laundering, tax evasion, and human trafficking, it is crucial to note that only a small percentage of money laundering cases involve Bitcoin. The dominant currency for money laundering is the US dollar.

There are real-world use cases for cryptocurrencies that demonstrate their value. For example, cryptocurrencies can enable the tokenization of assets, such as real estate, which allows for efficient and secure transactions. This can have a significant impact on industries like finance and supply chain management.

Tokenization, facilitated by blockchain technology, has the potential to revolutionize the way we transact and transfer value. By representing assets as tokens on a blockchain, the process becomes more efficient, transparent, and accessible. This has implications for various industries, including finance, real estate, and intellectual property rights.

Contrary to Dimon's claim that Bitcoin is only used for illicit activities, it is important to recognize that Bitcoin can also be used for legitimate purposes. Many individuals and businesses use Bitcoin for everyday transactions, investments, and even remittances. Bitcoin offers advantages such as lower transaction fees and faster international transfers.

In conclusion, while Dimon remains skeptical about the usefulness of cryptocurrencies, it is important to consider the potential benefits they offer. Differentiating between cryptocurrencies with utility and those without is essential. Real-world use cases, such as asset tokenization, demonstrate the value of cryptocurrencies. Additionally, Bitcoin is not only used for illicit activities, as it can also serve as a legitimate and efficient form of currency.

JP Morgan's Involvement in Cryptocurrency

Since 2016, JP Morgan, led by billionaire CEO Jamie Dimon, has been actively investing in cryptocurrencies, including Bitcoin and Ethereum. Despite Dimon's skepticism towards Bitcoin, JP Morgan's involvement in the cryptocurrency market cannot be ignored.

One notable aspect of JP Morgan's cryptocurrency involvement is their role as a leading authorized participant for Bitcoin ETF. BlackRock, a prominent investment management company, has named JP Morgan as their authorized participant for Bitcoin ETF. This highlights JP Morgan's recognition of the potential and importance of cryptocurrencies.

In addition to Bitcoin, JP Morgan has also embraced Ethereum as the foundation for their own coin, JPM Coin. By utilizing Ethereum's blockchain, JP Morgan has created a cryptocurrency that serves as a digital representation of fiat currency. This demonstrates JP Morgan's adoption of blockchain technology.

Since its launch, JPM Coin has gained substantial transaction volume. With a daily transaction volume of over a billion dollars, JPM Coin has become a significant player in the cryptocurrency market. This further solidifies JP Morgan's position as a key player in the industry.

JP Morgan's involvement in cryptocurrency reflects a broader trend among companies changing their views on cryptocurrencies. Companies like BlackRock, which previously held a skeptical stance, have now recognized the potential of cryptocurrencies and are actively participating in the market.

Overall, JP Morgan's investment in cryptocurrencies, their role as a leading authorized participant for Bitcoin ETF, their use of Ethereum for JPM Coin, and the substantial transaction volume of their coin all highlight their active involvement in the cryptocurrency market. Furthermore, the changing views of other companies demonstrate the growing recognition of the potential and value of cryptocurrencies.

Addressing Dimon's Past Statements on Bitcoin

Jamie Dimon, the billionaire CEO of JP Morgan, has made several statements about Bitcoin in the past, which have garnered attention and controversy. Let's take a look at some of his previous remarks and examine how they contrast with the actual market trends.

Compilation of Dimon's previous statements on Bitcoin

  • In 2015, Dimon referred to Bitcoin as a "fraud" and predicted that it would eventually "blow up."
  • In 2017, he stated that Bitcoin was "worse than tulip bulbs" and that it was only used for illicit activities such as money laundering and tax evasion.
  • Dimon also expressed skepticism about the long-term value of Bitcoin, stating that he would fire any JP Morgan trader who traded Bitcoin for being "stupid."

These statements reflect Dimon's initial skepticism and lack of understanding about the potential of cryptocurrencies, particularly Bitcoin.

The contrast between Dimon's past remarks and the actual market trends

Despite Dimon's negative comments about Bitcoin, the cryptocurrency has experienced significant market growth and adoption since he made those statements. Bitcoin's price has surged from around $200 in 2015 to over $60,000 in 2021, attracting numerous institutional investors and mainstream acceptance.

Furthermore, Bitcoin has proven its resilience and utility as a decentralized currency and store of value. It has demonstrated its ability to operate outside traditional financial systems and provide financial access to the unbanked population.

The potential for Bitcoin to have a shadow system based on blockchain technology

Dimon's concerns about Bitcoin being used for illicit activities are valid, but they fail to acknowledge the potential for blockchain technology to create a transparent and secure financial system. Bitcoin's underlying technology, the blockchain, has the potential to revolutionize various industries by enabling efficient and tamper-proof transactions.

With proper regulations and enforcement, governments can mitigate the risks associated with illicit activities and harness the benefits of a decentralized financial system. It is essential to recognize that the technology itself is neutral and can be used for both legitimate and illegitimate purposes.

The impact of government regulations on the future of Bitcoin

Dimon's statements also highlight the importance of government regulations in shaping the future of Bitcoin and cryptocurrencies. While he has expressed concerns that governments may shut down Bitcoin, it is crucial to note that governments around the world are increasingly accepting and regulating cryptocurrencies.

Regulatory frameworks can provide clarity and legitimacy to the crypto industry, making it more attractive to institutional investors and promoting its wider adoption. However, striking the right balance between regulation and innovation remains a challenge.

Dimon's changing perspective on cryptocurrencies and blockchain

It is worth noting that Dimon's perspective on cryptocurrencies and blockchain has evolved over time. Despite his initial skepticism, JP Morgan has actively invested in cryptocurrencies and developed its own digital currency, JPM Coin, based on blockchain technology.

This shift in perspective reflects the growing recognition of the potential of cryptocurrencies and blockchain in the financial industry. As more companies and financial institutions embrace these technologies, it further validates their importance and potential for the future.

The Future of Bitcoin and Cryptocurrency

As we look ahead to the future of Bitcoin and cryptocurrency, there are several key factors to consider. These factors include the limited supply and halving of Bitcoin, the potential influence of Satoshi, the characteristics of Bitcoin compared to gold, and the long-term price trajectory of Bitcoin.

The Limited Supply and Halving of Bitcoin

One of the unique aspects of Bitcoin is its limited supply. There will only ever be 21 million Bitcoins in existence. This scarcity drives its value and makes it a deflationary asset. Additionally, every four years, there is a halving event, where the rate at which new Bitcoins are created is cut in half. This further reduces the supply of new coins entering the market, potentially driving up the price over time.

The Potential for Satoshi to Influence the Future of Bitcoin

Satoshi Nakamoto, the pseudonymous creator of Bitcoin, remains a mysterious figure. While their true identity is unknown, they have had a profound impact on the cryptocurrency space. There is speculation that Satoshi still holds a significant amount of Bitcoin and could potentially influence the future of the currency. Whether through selling or further development, Satoshi's actions could have a significant impact on the market.

Comparing the Characteristics of Gold and Bitcoin

Bitcoin is often compared to gold due to its store of value properties. Both assets are finite in supply and can serve as a hedge against inflation. However, Bitcoin offers several advantages over gold. It is more easily divisible, transferable, and can be stored digitally. Additionally, Bitcoin's transparent and immutable blockchain provides a level of security and traceability that gold does not possess.

The Long-Term Price Trajectory of Bitcoin

While the price of Bitcoin can be volatile in the short term, many analysts and investors believe in its long-term potential. As the adoption and acceptance of Bitcoin continue to grow, its value may increase over time. This belief is supported by the limited supply, increasing institutional adoption, and the potential for Bitcoin to serve as a global store of value.

The Endorsement of Tezos as a Stable Coin

One stable coin that has gained endorsement is Tezos. Tezos is a cryptocurrency that aims to provide stability and security by pegging its value to a fiat currency, such as the US dollar. The author of this blog has expressed their support for Tezos, citing its substantial transaction volume and the transparency of its assets and obligations.

In conclusion, the future of Bitcoin and cryptocurrency holds many possibilities. The limited supply and halving of Bitcoin, the potential influence of Satoshi, the unique characteristics of Bitcoin compared to gold, and the long-term price trajectory all contribute to the evolving landscape of cryptocurrency. Additionally, the endorsement of stable coins like Tezos further highlights the potential of cryptocurrencies to provide stability and value in the future.

The Importance of Blockchain and Smart Contracts

Blockchain technology and smart contracts play a crucial role in the world of cryptocurrencies and beyond. Understanding their significance is essential for anyone interested in this rapidly evolving field.

Reiterating the Reality and Potential of Blockchain Technology

Blockchain technology is a reality that has been in existence for over 12 years. It has the potential to revolutionize various industries by enabling efficient and secure transactions. Blockchain can transfer money and data, offering a transparent and decentralized approach.

Differentiating Between Cryptocurrencies and Blockchain Technology

It is important to differentiate between cryptocurrencies and blockchain technology. While cryptocurrencies like Bitcoin may have gained attention for their volatile nature and potential use in illicit activities, the underlying blockchain technology itself has far-reaching applications beyond financial transactions.

The Benefits of Smart Contracts and Blockchain 3.0

Smart contracts, which are self-executing contracts with predefined rules, are one of the key benefits of blockchain technology. They eliminate the need for intermediaries, reduce costs, and increase transaction efficiency. Additionally, blockchain 3.0 platforms are built with advanced features that enhance scalability, security, and privacy.

Addressing Misconceptions and Fraudulent Activities in the Crypto Space

While there have been instances of fraudulent activities in the crypto space, it is important to remember that these are isolated incidents and do not reflect the entire industry. By educating oneself and following best practices, individuals can mitigate the risks and engage in legitimate activities within the crypto space.

Highlighting the Transparent and Open Nature of Bitcoin's Code

Bitcoin, the first and most well-known cryptocurrency, operates on an open-source codebase. This means that anyone can review the code, verify its security, and contribute to its improvement. The transparent and open nature of Bitcoin's code enhances trust and allows for community-driven development.

In conclusion, blockchain technology and smart contracts have immense potential to transform various industries. By understanding the distinction between cryptocurrencies and blockchain technology, addressing misconceptions, and embracing the benefits of smart contracts, individuals can navigate the crypto space more effectively and leverage its advantages for their own needs.

Jamie Dimon's Final Thoughts on Bitcoin

Jamie Dimon, the billionaire CEO of JP Morgan, has been dismissive of Bitcoin and has expressed his personal opinion on the cryptocurrency. He believes that if the bad use cases of Bitcoin cannot be solved, governments may be forced to shut it down. However, it is important to question the relevance of Dimon's opinion on the value of Bitcoin.

While Dimon is a prominent figure in the financial industry, his personal opinion should not be the sole determining factor in assessing the value and potential of Bitcoin. Market trends and adoption of Bitcoin have shown a different reality, with the cryptocurrency gaining significant traction and investment from institutions.

Contrasting Dimon's views with the market trends reveals a disconnect between his dismissive attitude towards Bitcoin and the growing acceptance and adoption of the cryptocurrency. Bitcoin's price has surged from around $200 in 2015 to over $60,000 in 2021, attracting numerous institutional investors and mainstream acceptance.

The potential consequences of government intervention, as mentioned by Dimon, cannot be overlooked. However, it is important to consider that governments around the world are increasingly accepting and regulating cryptocurrencies. Regulatory frameworks can provide clarity and legitimacy to the crypto industry, making it more attractive to institutional investors and promoting its wider adoption.

It is crucial for individuals to form their own opinions on Bitcoin and cryptocurrencies, taking into account multiple perspectives and conducting thorough research. While Dimon's opinion carries weight in the financial industry, it is essential to consider the broader market trends, adoption, and potential of cryptocurrencies.

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FAQ

Can cryptocurrencies be regulated by governments?

Yes, governments have the ability to regulate cryptocurrencies. While Bitcoin and other cryptocurrencies operate on decentralized networks, they still exist within the framework of existing laws and regulations. Governments around the world are increasingly accepting and regulating cryptocurrencies to ensure consumer protection, prevent illicit activities, and promote financial stability.

What are the risks associated with Bitcoin?

Bitcoin, like any investment, carries certain risks. Some of the risks associated with Bitcoin include price volatility, regulatory uncertainty, technological vulnerabilities, and potential for fraud or hacking. It is important for individuals to carefully assess these risks and consider their risk tolerance before investing in Bitcoin.

Is Bitcoin used for illicit activities?

While Bitcoin has been associated with illicit activities in the past, such as money laundering and tax evasion, it is important to note that the majority of illicit activities still occur using traditional fiat currencies, such as the US dollar. The blockchain technology underlying Bitcoin actually provides a transparent and traceable record of all transactions, making it less anonymous than cash.

What is the future of Bitcoin's price?

The future price of Bitcoin is uncertain and subject to various factors, including market demand, regulatory developments, technological advancements, and macroeconomic trends. Some analysts and investors believe in the long-term potential of Bitcoin and expect its price to increase over time due to its limited supply, growing adoption, and store of value properties. However, it is important to note that investing in Bitcoin or any cryptocurrency carries inherent risks and should be approached with caution.

What is the role of blockchain technology in the crypto space?

Blockchain technology plays a fundamental role in the cryptocurrency space. It is a decentralized and transparent ledger that records and verifies transactions across multiple computers or nodes. Blockchain technology enables secure and efficient transactions, eliminates the need for intermediaries, and provides transparency and immutability. Beyond cryptocurrencies, blockchain technology has the potential to revolutionize various industries, including finance, supply chain management, healthcare, and more.

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It's worth considering Jamie Dimon's skepticism toward Bitcoin and cryptocurrency.

While his insights are valuable, it's crucial to approach them with a critical mindset, considering his position as a traditional finance figure.

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      Why is a strong WiFi password important?
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      Table of Contents
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      Take profit levels were determined based on previous support and resistance levels, as well as the trader's analysis of the price action. These levels were set to secure gains and maximize profitability.
      Review of the second trade on LTC and its quick execution
      The second trade on LTC was executed quickly. The trader identified a range pattern and entered the trade when the price broke through the range. The trade was filled in just one candle and resulted in a profit of around $950.
      This trade demonstrated the importance of being aware of market volatility, especially when trading range patterns. The trader took advantage of the volatility during the New York trading session, which created a quick opportunity for profit.
      Overall, these trades showcased the profitability of the trading strategies used by the trader. The careful analysis of trends, indicators, and market conditions allowed for successful trades and significant profits.
      Understanding the System
      In order to fully grasp the live crypto trading experience and the strategies used, it is important to understand the system behind it. Here are some key points to help you understand the system:
      Explanation of Trend Analysis and Break of Structure
      Trend analysis is a crucial part of the trading system. Traders look for trends in the price movement of cryptocurrencies to identify potential trading opportunities. By analyzing trends, traders can determine the direction in which the price is likely to move and make informed trading decisions.
      One aspect of trend analysis is the "break of structure," which refers to a significant change in the price movement pattern. Traders pay close attention to breakouts or breakdowns of key levels of support or resistance, as they can indicate the start of a new trend or a reversal in the current trend.
      Analysis of the Impact of New York Session on Volatility
      The New York session, which opens at around 8:00 AM EST, often brings increased volatility to the crypto market. This is because the New York Stock Market has a significant influence on global markets, including cryptocurrencies. Traders need to be aware of this volatility and adjust their trading strategies accordingly.
      During the New York session, there may be sudden price movements or large price swings, which can create both opportunities and risks for traders. It is important to understand how to navigate this volatility and take advantage of potential trading opportunities that may arise during this time.
      Importance of Economic Events in Trading Decisions
      Economic events, such as interest rate decisions, inflation rates, and GDP growth rates, can have a significant impact on the crypto market. These events can affect the monetary policy of countries and, in turn, influence the stock market and crypto market.
      Traders need to stay informed about upcoming economic events and understand how they might impact the market. By keeping track of these events and analyzing their potential effects, traders can make more informed trading decisions and adjust their strategies accordingly.
      Insights into Risk Management and Win Rate
      Risk management is a crucial aspect of any trading system. Traders need to manage their risk by setting stop-loss orders and determining their risk tolerance. This involves carefully calculating position sizes and setting realistic profit targets.
      Win rate, which refers to the percentage of winning trades, is also an important factor to consider. A high win rate can contribute to overall profitability, but it is important to strike a balance between win rate and risk-reward ratio. Traders need to maintain a consistent win rate and ensure that their winning trades outweigh their losing trades.
      By understanding the system behind live crypto trading, including trend analysis, volatility during the New York session, the impact of economic events, and the importance of risk management and win rate, traders can make more informed trading decisions and increase their chances of success in the market.
      Applying the System
      Now that we have discussed the breakdown of the trades and the strategies used, let's explore how to apply this system to your own trading.
      Example trade on Ethereum and its execution
      One of the trades we executed was on Ethereum. We followed the trend and used moving averages as confirmation. By entering the trade just below the entry point, we were able to secure a profit of around $4,000 in just a few hours. The key here is to identify the trend, use the right indicators, and execute the trade at the right time.
      Dollar cost averaging and risk profile
      A key component of this system is dollar cost averaging (DCA). This strategy involves buying more shares or units as the price goes down, lowering the average cost of the investment. By gradually adding to losing positions, you reduce the risk profile of the trade. However, it is important to be meticulous and calculate position sizes to determine your risk tolerance.
      Explanation of gradual profit withdrawal strategy
      In order to take profits out of the system, a gradual profit withdrawal strategy can be implemented. By taking a fixed percentage of the profits on winning trades, you can gradually increase your profitability over time. For example, taking 25% of the profits on each winning trade allows for consistent growth while still maintaining a high win rate. This strategy is still being developed and refined, with the goal of potentially automating the process.
      Importance of discipline and attention to detail
      One of the most important aspects of successful trading is discipline and attention to detail. It is crucial to follow your trading system consistently and pay attention to the small details that can make a difference in your trades. Successful traders are meticulous in their approach and have a structured process that they follow rigorously.
      Remember, trading is not about finding a magical solution or relying on luck. It is about having a disciplined structure, refining your process, and paying attention to meticulous details. By understanding the system, applying dollar cost averaging, implementing a gradual profit withdrawal strategy, and maintaining discipline, you can increase your chances of success in the market.
      Future Developments
      As we continue to revolutionize retail trading, we have some exciting developments planned for 2024. Here's a teaser of what's to come:
      Full Automation: We are working towards achieving full automation in our trading system. This means that trades will be executed automatically based on pre-set criteria, eliminating the need for manual intervention. This will enhance the trading experience and make it more efficient for our community. Fixed Percentage Profit Withdrawals: We are currently developing a system that will allow for fixed percentage profit withdrawals. This means that traders will be able to take a predetermined percentage of their profits on winning trades. This strategy aims to gradually increase profitability over time while maintaining a high win rate. We believe that this approach will provide consistent growth for our traders. Free Trades in the Discord Community: Starting in 2024, we will be offering some of our trades for free in our Discord community. This will allow traders to participate in our trades and learn from our strategies without any financial commitment. It will be a great opportunity to experience live crypto trading and gain valuable insights. If you're interested in staying updated on these developments and joining our amazing trading community, we encourage you to join our Discord. In our Discord community, you'll have access to trade alerts, learning resources, and a supportive community of traders.
      We are excited about the future of retail trading and look forward to sharing these developments with you. Together, we can achieve financial success in the crypto market.
      How to Participate
      Are you interested in joining our live crypto trading community and participating in trade alerts? Here's how you can get involved:
      Explanation of the Discord community and trade alerts
      Join our Discord community to stay connected with us and receive trade alerts. We provide real-time updates on the trades we execute, including the exact entry and exit points, as well as the thought process behind each trade. This allows you to follow along and learn from our strategies.
      Access to trade ideas and participation in alerts
      Once you join our Discord community, you will have access to trade ideas and alerts in the public trading and analyst tab. We share the specific criteria for each trade, and you can participate by inputting the necessary information into the provided tools. However, please note that this information is for educational purposes only and should not be considered financial advice.
      Disclaimer about the information not being financial advice
      It's important to understand that the trade alerts and information we provide are not financial advice. We are sharing our strategies and trades for educational purposes and to help you learn from our experiences. It's crucial to conduct your own research, consider your risk tolerance, and make informed trading decisions.
      Promotion of other learning resources and community support
      In addition to trade alerts, our Discord community offers a wealth of learning resources and a supportive environment. You can find valuable tools, such as the TCL Max, and access other free learning materials. Engage with the community, ask questions, and learn from experienced traders to enhance your trading skills.
      By participating in our community and utilizing the resources available, you can gain insights into live crypto trading, learn from our strategies, and improve your trading abilities. Remember, trading requires discipline, attention to detail, and constant learning. Take advantage of our community and embark on a journey towards financial success.
      Conclusion
      In conclusion, the live crypto trading experience has demonstrated the effectiveness of our strategies and the potential for substantial profits. Through careful analysis, trend following, and strategic entry and exit points, we were able to achieve a 100% win rate and generate significant returns.
      We encourage you to engage in the comments section to share your thoughts, ask questions, and learn from our experiences. Our trading community is filled with knowledgeable individuals who can provide valuable insights and support.
      We want to express our gratitude to all our viewers and subscribers for their continued support. Your engagement and participation inspire us to continue sharing our trading strategies and insights.
      If you found this blog helpful and informative, we invite you to watch our next video for more live crypto trading and strategies. Stay updated on the latest trading and investing insights by subscribing to our channel and following us on social media.
      Join us in revolutionizing retail trading and embark on a journey towards financial success in the crypto market. Together, we can achieve great things.
      FAQ
      Answers to frequently asked questions about the trading system
      What is the win rate of the trading system? The win rate of the trading system is currently 100% for the trades discussed in this video. However, it's important to note that win rates can vary and it's crucial to maintain a high win rate in order to be profitable in the long run. What is dollar cost averaging (DCA) and how does it work? Dollar cost averaging is a strategy that involves buying more shares or units as the price goes down, lowering the average cost of the investment. This strategy allows traders to gradually add to losing positions and reduce the risk profile of the trade. By gradually adding to positions, traders can lower the price at which the instrument needs to reach in order to make a profit. What is the gradual profit withdrawal strategy? The gradual profit withdrawal strategy involves taking a fixed percentage of the profits on winning trades. For example, taking 25% of the profits on each winning trade allows for consistent growth while maintaining a high win rate. This strategy aims to gradually increase profitability over time. Explanation of key concepts and strategies
      What is trend analysis and how does it work? Trend analysis is an important part of the trading system. Traders analyze trends in the price movement of cryptocurrencies to identify potential trading opportunities. By analyzing trends, traders can determine the direction in which the price is likely to move and make informed trading decisions. What is the impact of the New York session on volatility? The New York session, which opens at around 8:00 AM EST, often brings increased volatility to the crypto market. This is because the New York Stock Market has a significant influence on global markets, including cryptocurrencies. Traders need to be aware of this volatility and adjust their trading strategies accordingly. What is the importance of economic events in trading decisions? Economic events, such as interest rate decisions and GDP growth rates, can have a significant impact on the crypto market. Traders need to stay informed about upcoming economic events and understand how they might influence the market. By analyzing the potential effects of these events, traders can make more informed trading decisions. What is risk management and why is it important? Risk management is a crucial aspect of any trading system. Traders need to manage their risk by setting stop-loss orders and determining their risk tolerance. By carefully calculating position sizes and setting realistic profit targets, traders can minimize potential losses and protect their capital. Tips for beginners and managing risk
      What tips do you have for beginners in live crypto trading? For beginners in live crypto trading, it is important to start with a disciplined structure and follow a well-defined trading system. Pay attention to the small details and constantly refine your process. It is also crucial to manage risk by setting appropriate stop-loss orders and determining your risk tolerance. How can traders manage risk in their trades? Traders can manage risk by setting stop-loss orders to limit potential losses. It is important to calculate position sizes based on risk tolerance and set realistic profit targets. By maintaining a consistent win rate and ensuring that winning trades outweigh losing trades, traders can effectively manage risk and increase their chances of success. Resources for further learning and development
      What resources are available for further learning about live crypto trading? In addition to the information shared in this video, there are several resources available for further learning about live crypto trading. Joining the Discord community mentioned in the video provides access to trade alerts, learning resources, and a supportive community of traders. Engaging with the community, asking questions, and learning from experienced traders can greatly enhance trading skills. Where can traders find additional learning materials and tools? Traders can find additional learning materials and tools within the Discord community. The community offers a wealth of resources, including the TCL Max tool, which can assist with trade ideas. Taking advantage of these resources and engaging with the community can help traders improve their trading abilities.
         1 comment
      So, this little article is sparked by a ton of questions about how invites work in channels. Today, we're diving into all the possible answers to that question.
      How do you invite more than 200 initial users to a channel?
      YOU CAN'T, LIKE, AT ALL!!! Well, that's pretty much the gist of it...
      Okay, technically you can't do it now, but there used to be this thing where you could ban and unban users to boost numbers. That bug's long gone, though.
      BUT! What if you find yourself in a channel with over 200 members without subscribing? Let's look at how you might have ended up there:
      You were invited before the channel hit 200 members, then they just cranked up the numbers. You clicked to join a channel that requires approval. The thing is, you can sit in the approval queue for weeks, and then they'll just approve everyone at once. Some channels even sell this service separately. The channel you were subscribed to got taken over and flooded with new posts. So those are the ways you might end up in random channels. As you can see, no magic involved.
      As for known bugs in channel adds, there's no data or mentions of any. All investigations have consistently pointed to these three scenarios
         2 comments
      Understanding Malware-as-a-Service (MaaS) Information Stealers
      The Malware-as-a-Service (MaaS) model offers aspiring cybercriminals a cost-effective and relatively simple means to execute advanced cyber attacks and achieve their malicious objectives. Among these services are information stealers, which focus on extracting and exfiltrating sensitive data—such as login credentials and financial details—from compromised devices, potentially causing significant financial damage to both individuals and organizations.
      What is the Lumma Information Stealer?
      The Lumma information stealer, which has been marketed and sold on various dark web forums since 2022, exemplifies this type of MaaS. Lumma specifically targets cryptocurrency wallets, browser extensions, and two-factor authentication (2FA) mechanisms, ultimately siphoning sensitive information from infected systems. The distribution of Lumma on dark web platforms is increasing, with over a dozen command-and-control (C2) servers detected in the wild.
      From January to April 2023, Darktrace monitored and analyzed several instances of Lumma activity across its client base. Leveraging its anomaly-based threat detection, Darktrace DETECT™ effectively identifies and provides insight into activities related to such info-stealers, from C2 operations to the exfiltration of sensitive data.
      Background on Lumma Stealer
      Previously known as LummaC2, the Lumma stealer is a subscription-based information theft tool that has been active since 2022. It is believed to have been created by the threat actor “Shamel,” using the alias “Lumma.” The stealer is marketed on dark web forums and through a Telegram channel with over a thousand subscribers as of May 2023. It is also available on Lumma’s official sales page for as low as $250.

      Emergence of Lumma Stealer in the Russian Market
      Research into the Russian market for stolen credentials has identified Lumma stealer as a notable emerging threat since early 2023. Lumma has joined the ranks of rising info-stealers, alongside other threats like Vidar and Racoon [1].
      Like other info-stealers, Lumma can extract data from compromised systems, including system and application information, as well as sensitive data such as cookies, usernames, passwords, credit card numbers, browsing history, and cryptocurrency wallet details.
      From January to April 2023, Darktrace observed Lumma malware activity across multiple customer environments, primarily in the EMEA region but also in the US. This activity involved data exfiltration to external endpoints associated with Lumma malware, likely originating from trojanized software downloads or malicious emails containing Lumma payloads.
      Lumma Attack Methods and Darktrace Detection
      Lumma is often distributed disguised as cracked or fake versions of popular software like VLC or ChatGPT. More recently, threat actors have also used emails with attachments or links pretending to be from well-known companies to deliver the malware. For instance, in February 2023, a South Korean streamer was targeted by a spear-phishing email that mimicked the video game company Bandai Namco [4].
      Lumma primarily targets Windows operating systems (Windows 7 to 11) and at least ten different browsers, including Google Chrome, Microsoft Edge, and Mozilla Firefox [5]. It also targets cryptocurrency wallets such as Binance and Ethereum, as well as crypto wallet and 2FA browser extensions like Metamask and Authenticator [6]. Additionally, the malware can exfiltrate data from applications like AnyDesk and KeePass [7].
      Infection with Lumma can lead to fraudulent use of the stolen credentials, potentially resulting in significant financial losses, such as bank account hijacking.
      Once the targeted data is captured, it is exfiltrated to a C2 server. Darktrace has detected this process in multiple affected environments. Through Darktrace DETECT, instances of data exfiltration via HTTP POST requests to known Lumma C2 servers were identified. During these connections, DETECT frequently noted the URI “/c2sock” and the user agent “TeslaBrowser/5.5”.
      In one case, Darktrace flagged a device using the “TeslaBrowser/5.5” user agent, which was new for the device, making an HTTP POST request to an unusual IP address, 82.117.255[.]127 (Figure 3). Darktrace’s Self-Learning AI recognized this as a deviation from expected behavior and alerted the customer’s security team.

       
      A detailed analysis of the packet captures (PCAP) from HTTP POST requests on one device confirmed that various types of data were being exfiltrated from the customer's network. This included browser data, such as Google Chrome history files, system information stored in a System.txt file, and program data like AnyDesk configuration files.
       


      Additionally, Darktrace identified malicious external connections on a particular device that were associated with other malware strains, such as Laplas Clipper, Raccoon Stealer, Vidar, and RedLine info-stealers, alongside the Lumma C2 connections. These info-stealers are commonly offered as Malware-as-a-Service (MaaS) and can be purchased and deployed by even relatively inexperienced threat actors. It is also likely that the developers of these info-stealers are working to integrate their malware into the activities of traffer teams [8], organized cybercrime groups specializing in credential theft.
      Conclusion
      Reflecting the broader trend of increasing information stealers in the cyber threat landscape, Lumma stealer remains a significant threat to both organizations and individuals.
      As another example of MaaS, Lumma is easily accessible for threat actors, regardless of their expertise, which is likely to lead to a rise in incidents. Consequently, it is crucial for organizations to implement security measures that can detect unusual behavior indicative of an info-stealer compromise, rather than relying solely on static indicators of compromise (IoCs).
      Darktrace DETECT’s anomaly-based detection capabilities have successfully uncovered Lumma infections across various customer environments, regions, and industries. By identifying unusual connections to C2 infrastructure and the exfiltration of data, Darktrace provided comprehensive visibility into Lumma infections, enabling affected customers to pinpoint compromised devices, mitigate further data loss, and reduce the risk of substantial financial damage
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