Bitcoins
- Thread starter Ne Obliviscaris
- Start date
[ame]https://www.banking.senate.gov/public/_cache/files/a5e72ac6-4f8a-473f-9c9c-e2894573d57d/BF62433A09A9B95A269A29E1FF13D2BA.clayton-testimony-2-6-18.pdf[/ame]
So
this is
78 fucking pages
and im skimming
but the jist seems to be
Closer watch on ICO's
and no intent to add rules to the other side
they believe it's a incrediblely powerful new tech that will make major waves
and they don't want to stifle the growth at all
So
this is
78 fucking pages
and im skimming
but the jist seems to be
Closer watch on ICO's
and no intent to add rules to the other side
they believe it's a incrediblely powerful new tech that will make major waves
and they don't want to stifle the growth at all
right. icos are very risky and i agree with regulations on icos. since people can literally just scam you and run off. But at the same time. These scammers are usually easy to tell apart if you DYOR. There is still risk with any investment though.
Glad the U.S. is in support! Other countries are trying to stamp out bitcoin it feels like, but I don't think you can stamp it out so easily. Look at the stock market crashed hard today. So it may just be a bad time for investments all together which sucks but just keep positive. And if we lose it all. Well. We knew the risks. But hopefully the opposite happens. I got in this for the gains, but I've learned so much now. As long as It bounces back I'm thankful for the turmoil because I learned so much more than I would have otherwise!
Glad the U.S. is in support! Other countries are trying to stamp out bitcoin it feels like, but I don't think you can stamp it out so easily. Look at the stock market crashed hard today. So it may just be a bad time for investments all together which sucks but just keep positive. And if we lose it all. Well. We knew the risks. But hopefully the opposite happens. I got in this for the gains, but I've learned so much now. As long as It bounces back I'm thankful for the turmoil because I learned so much more than I would have otherwise!
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I once watched about 6k disappear being too stubborn to pull it out of an investment. I’m down 11k this week because of the stock market. Shit happens. The key is more good shit than bad shit. All the advice u ever heard and didn’t listen to starts to make sense when ur stack dwindles in front of ur eyes
BTW this sec that everyone was worried about is fucking awesome. They are shilling blockchain hard.
They basically want ICOs to start being treated as a security and want more protection for the investors. This is not a bad thing. It's fucking legit.
It's live, on recess right now though.
Best thing I heard from this meeting so far is that they don't want to stifle it and see this as "revolutionary as the cell phone was"
Virtual Currencies: The Oversight Role of the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission - Hearings - U.S. Senate Committee on Banking, Housing, and Urban Affairs
They basically want ICOs to start being treated as a security and want more protection for the investors. This is not a bad thing. It's fucking legit.
It's live, on recess right now though.
Best thing I heard from this meeting so far is that they don't want to stifle it and see this as "revolutionary as the cell phone was"
Virtual Currencies: The Oversight Role of the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission - Hearings - U.S. Senate Committee on Banking, Housing, and Urban Affairs
This is just the same. No one can just create their own currency out of thin air the way these are being created. To be a currency something has to be able to be used a store of value and a medium of exchange.
First, something that can go from $1000 to $20,000 in matter of months and then back down to $6000 cannot possibly be used as a store of value, way too volatile. Bitcoin (and any other crypto currencies) fail completely on that alone.
Secondly, to be a currency it has also to be used as a medium of exchange. None of them are. The only reason anybody buys a crypto currency is because think they will be able to sell it to someone else for a higher price. Textbook definite of a bubble, same as tulips, same as tech stocks in 00.
Finally - the USD is valuable and the Syrian Dinar isn’t because the USD is guaranteed by the US Gov who has assets and raises taxes. Crypto currencies fail on that as well.
Complete house of cards.
You’re just betting on black and hoping it doesn’t come up red.
First, something that can go from $1000 to $20,000 in matter of months and then back down to $6000 cannot possibly be used as a store of value, way too volatile. Bitcoin (and any other crypto currencies) fail completely on that alone.
Secondly, to be a currency it has also to be used as a medium of exchange. None of them are. The only reason anybody buys a crypto currency is because think they will be able to sell it to someone else for a higher price. Textbook definite of a bubble, same as tulips, same as tech stocks in 00.
Finally - the USD is valuable and the Syrian Dinar isn’t because the USD is guaranteed by the US Gov who has assets and raises taxes. Crypto currencies fail on that as well.
Complete house of cards.
You’re just betting on black and hoping it doesn’t come up red.
yea dude, from december when we were at ATH....i told u, i was holding through the dips and look at the market now. look what happened to coins like waves, ark, stratis etc. they're almost going for the price i bought them for in june lolsmh.
all i can do now is sit tight while getting in on these ico's.
The block chain technology can be (correction: is being) developed to work using fiat currencies.
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Props:
phncke and phncke
