To add in, both the UK FCA and the US CFTC have assessed cryptocurrencies as a whole and had positive outlooks and opinions of them, outwith derivatives. If governments really were keen to outlaw it they would have done it already.
Can governments not step in and put an end to the cryptocurrency madness?
- Thread starter 4k4uNuNu
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Soldato
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Your post makes no difference, sure $ is a ponzi, you will lose purchasing power holding it. Changes nothing i said.
You are literally saying bitcoin is safer than holding US dollars.
Given the FCA's record of gross incompetence, I wouldn't take that endorsement with much confidence...
They can approve of cryptoassets as a whole while still giving warnings to retail investors looking to get-rich-quick. I know you have one hell of an anti-crypto bias, but I'm not sure what you're trying to prove here.
Unless you were just hit and run dropping the article and not responding to anything in particular.
Unless you were just hit and run dropping the article and not responding to anything in particular.
I would imagine that their endorsement was just an endorsement of the technology in terms of having potential in future. At the moment it's nothing more than a bubble, so they need to warn people not to remortgage the house to invest.
its been a bubble for about 10 years now?
I wouldn't necessarily say that, although it's hard to put a genuine value on it. Back then though I'd imagine it was mostly held by 'true believers' and people wanting to buy drugs online, whereas now the vast majority are just in it based on price speculation, whether they think it's got any long term value or not.
That makes no sense, it's no different to the intrinsic value of any bearer security. Cash notes is merely a vehicle accepted for purchasing goods or service in exchange. It's currency.
The fact it's bearer, means it's not registered to anyone rather you find a note in the street it's yours to keep it spend.
one of my ex found €25,000 and handed it in to the police, never even got a thank you.....
What was it monopoly note €25,000. Yep I assume you have a duty to have a level of integrity
there was an article in the local paper last year about some woman being mugged in a carpark, some immigrant guy stole some ridiculous amount of money from her.
I can't find the article but it was something like 70,000CHF in cash. (they caught him though)
swiss people be crazy but it's common to have 100 & 200chf notes on you though, the highest note is 1000chf so 25k can be as little as 25 notes
1gbp = 1.21chf
cards don't seem as popular over there
I do not use hsbc with any exchanges, but today i am closing a business account i have with them which has largely been triggered by their stance on this. Its a big signal of how antiquated the banks are and a reminder of all the frustration i have with them. My support should be given to the new challenger banks and fintec companies.
Disclaimer* I receive a lot of foreign payments so I get particularly stung by banking inefficiencies and high fees.