Bitcoin - you might do well to read this

[milanbenes]

FTFY


If you were actually so sure then why don't you short it?

a) The fact is, regulation will have an impact - positive or negative, who can say ?

b) I hadn't thought of shorting it, but that's a good idea and not being one to look a gift horse in the mouth twice I will have a look into how to short it - thanks for the tip - but that's the thing, my biggest doubt is that the regulators do something, and if you have a short on it and the regulators do something, I'd expect that the brokers have a clause that, "all bets are off" - nevertheless will do my own research and see what I find thanks

Milan.

[Lance]

a) The fact is, regulation will have an impact - positive or negative, who can say ?

All previous attempst to regulate have not altered it

b) I hadn't thought of shorting it, but that's a good idea and not being one to look a gift horse in the mouth twice I will have a look into how to short it - thanks for the tip

This is why you sound like such an arse. You write with great authority about the subject then admit you know absolutely sweet F.A. about it.

[milanbenes]

All previous attempst to regulate have not altered it

This is why you sound like such an arse. You write with great authority about the subject then admit you know absolutely sweet F.A. about it.

now you're showing your immaturity Lance, but that's ok :-)

anyway as you will find in life, the best lessons are the most expensive as I found out in my mid twenties in the .com boom, and thankfully those lessons put me where I am now


here's your task for today

try to separate emotion/passion from research

try to think about what would happen to BitCoin if the financial regulators on the back of some reason eg KYC (look it up if you don't know it) bring in regulations on bitcoin.

Will regulation strengthen it - perhaps yes because it will give people who feared the lack of regulation the confidence to invest - retail investors

or will regulation weaken it ?

That's the only risk and question I see for it as a financial instrument

Remember - timing and asset class


Milan.

[Jog On]

Hi hobo,

I take back the muppet bit, it was purely a joke and not intended to offend

this guy is saying it will go to 400,000U$D

https://www.cnbc.com/2017/12/17/bitc...00-400000.html

I don't hold any by the way

do your own research etc etc

Don't invest <cough> gamble what you cannot afford to lose

I am curious, though, since September the 11th 2001, a zillion laws have been bought in regarding money laundering, know your client etc, transparency from CH private banks etc, and now there's bitcoin which is giving all of the world's dirty money a home

Like the haircut which happened in Cyprus a couple of years ago (look it up on google if you don't know about it) where all the dirty money had a haircut, I am curious, what percentage of the money in bitcoin is dirty and hence, what an opportunity it presents for taking away dirty money if bitcoin were to be closed down

https://www.rt.com/business/412700-b...bitcoin-piles/

Milan.

The US government have drafted a law making it a crime to hold crypto anonymously so the public ledger aspect of it will truly be a 'public ledger' where addresses can be tracked to real people - this is a good thing.

BTC futures are now being traded on futures exchanges, you can also buy BTC funds/ETFs for your pension.

The IRS are in the process of applying tax laws to all crypto trading and ownership (you get taxed on every alt trade - not sure how this works with losses...)

People who don't understand it will keep predicting it's failure yet insist that they somehow know more about it despite admitting they don't understand it. And politicians and bankers will of course continue to try and take control of it and warn people off it.

That's the state of Crypto in 2017

[Lance]

People who don't understand it will keep predicting it's failure yet insist that they somehow know more about it despite admitting they don't understand it. And politicians and bankers will of course continue to try and take control of it and warn people off it.

That's the state of Crypto in 2017

THIS ^^^^^^^^^

[Jog On]

You can short it on traditional spreadbetting/CFD platforms, my broker (GKFX) has BTC and ETH available to trade like FX pairs.

Happy margin call.

[woohoo]

I'm afraid the ignorance on display is exactly why cryptocurrencies will remain viable (maybe not in this current wild west state) - lack of regulation, mathematical proof, public ledger, difficulty for one party to control (i.e. govs / bankers) are all strengths. "It's a odd commodity because it's finite", is this guy straight out of clown college?

Clown college is serious business with a long history. Just because of the film IT everyone thinks it's ok to make a laughing stock out of them.

[BR14]

Clown college is serious business with a long history. Just because of the film IT everyone thinks it's ok to make a laughing stock out of them.

yep, without it we'd have a lot fewer project managers for sure

[BrilloPad]

Bitcoin is more of a currency than GBP.

Though I prefer magic beans.

[FrontEnder]

try to think about what would happen to BitCoin if the financial regulators on the back of some reason eg KYC (look it up if you don't know it) bring in regulations on bitcoin.

Anyone who's used an exchange will know about KYC as every one I've used does the checks. I have to upload proof of address and ID.

The impact of that would probably be minimal, if anything I think it would make it stronger as it legitimises it even more.