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Thread: SEC sounds alarm about cryptocurrencies

  1. #1
    Join Date
    Jan 2017
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    Default SEC sounds alarm about cryptocurrencies

    SEC sounds alarm about cryptocurrencies
    ----------------------------------------------

    https://www.sec.gov/news/public-stat...ton-2017-12-11

    ----cryptocurrencies have little investor protection
    ----no IOC's (Initial Coin Offerings) have been registered with SEC
    ----your money invested in cryptcurrencies might go to other countries
    ----determine which securities laws apply to cryptocurrencies

    etc etc.

    It is a long litany of concerns.

    My note: I have stayed on the sidelines, which seems to be
    prudent thing to do. However, in my opinion, bitcoin and
    other currencies might actually be the dawn of a new monetary
    era. Who knows ?

  2. #2

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    Quote Originally Posted by oak333 View Post
    SEC sounds alarm about cryptocurrencies
    ----------------------------------------------

    https://www.sec.gov/news/public-stat...ton-2017-12-11

    ----cryptocurrencies have little investor protection
    ----no IOC's (Initial Coin Offerings) have been registered with SEC
    ----your money invested in cryptcurrencies might go to other countries
    ----determine which securities laws apply to cryptocurrencies

    etc etc.

    It is a long litany of concerns.

    My note: I have stayed on the sidelines, which seems to be
    prudent thing to do. However, in my opinion, bitcoin and
    other currencies might actually be the dawn of a new monetary
    era. Who knows ?
    If these points are official position of the SEC on Bitcoin, then maybe they should be ignored.

  3. #3

    Default

    Quote Originally Posted by oak333 View Post
    However, in my opinion, bitcoin and
    other currencies might actually be the dawn of a new monetary
    era. Who knows ?
    They might be but I doubt it as the maintenance for the system, the need to constantly create new security, is burdensome

    Until and unless the time comes when this is overcome, I doubt cryptos will be anything other than what they are, a way to gamble, a way to invest, a way to ? but hardly a way to conduct regular business, as the crypto system is today

    It's only a current fad to expect much from the cryptos, again, at this time

    My opinion on tomorrow is "who knows"?
    Hope isn't knowledge and did you see the swings in the market price today?

    How can a business man be expected to accept this in exchange for a candy bar?
    LOL

  4. #4

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    Oh yeah, someone remind me:
    Is it Bitcoin, that's moving the price
    or
    Is it the Market, that doesn't actually invest in Bitcoin, moving the price?

    Ask a gold holder what they think
    LOL
    LOL

  5. #5

    Default

    Quote Originally Posted by Chump Change View Post
    They might be but I doubt it as the maintenance for the system, the need to constantly create new security, is burdensome

    Until and unless the time comes when this is overcome, I doubt cryptos will be anything other than what they are, a way to gamble, a way to invest, a way to ? but hardly a way to conduct regular business, as the crypto system is today

    It's only a current fad to expect much from the cryptos, again, at this time

    My opinion on tomorrow is "who knows"?
    Hope isn't knowledge and did you see the swings in the market price today?

    How can a business man be expected to accept this in exchange for a candy bar?
    If he's selling 1 candy bar a day, then it's a lousy business. If he's selling 1000 candy bars, then he can lock in the price hour by hour, or day by day, or whatever he chooses, automatically. Takes 1 click a year to do, even a chump can do it. Next.

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