They will make cryptos subject to regulation as “securities”, I’ll bet money on it. We have markets that are being shifted and moved by tweets (insider trading anyone). The governments won’t put up with people having privacy with their money. All ICO’s will need audited and regulated. It’s not a question of if but when.
This much liberty is dangerous, it must be stopped. Lmao
The SEC can declare any ICO a security after an inquiry. ICOs are already banned in China. So are bitcoin exchanges. The Chinese are now using Korean exchanges to trade lol. Go see the sudden spike in volume after the ban a couple of months ago.
There are numerous ways in which crypto can be regulated. Provisions can be added to Criminal or Commercial Law statutes, for example, to give authorities more leeway when investigating money laundering cases. Exchanges already have increased identity verification requirements. Coinbase has been compelled to deliver details of users so the authorities can keep track of any tax evasion cases in your country, if I’m not wrong.
The question, in the end, is how does such regulation affect the long term value of a crypto? What is the root of the regulation? To prevent scams? Anti-money laundering?
While I despise anything to do with the government, just because regulation increases doesn’t mean the objective is to clamp down, or even have a direct effect on cryptos. Unless you’re China, of course. Those fuckers probably shorted bitcoin while they were at it.
I’d bet money on it too, just not with our current administration. Remember, all regulations are bad regulations. Every single one of them.
Hopefully we can get a decent correction in bitcoin this time.
I dumped everything last night before bed. Looks like it was a good move. BTC is dropping to low $11.3
Yeah mass dump looks like it’s taking down a few exchange sites. Only furthers the panic and makes more people dump.
This roller coaster is insane. Wonder how many people are margin’d too far and are eating crow right now.
Don’t worry, I’ll be buying back in soon enough.
Yeah it rose too fast. It should have corrected at 8+k.
A shakeout’s good. Buying opportunities; weak hands gone… until they come back again at a higher price. Institutional money coming in next year.
I’m looking forward to this. I’m slowly buying back now and spreading over 4-6 alts that I think are attractive.
What are your thoughts on Ripple? I’ve stayed away because of the amount of coin that’s been released, relative to price and market cap.
I’m holding the Ripple I accumulated for the long term. I only withdrew my initial investment.
Saw yesterday? that Goldman is entering the playing field soon. Wonder who else will be forced to follow. Kinda thing most people.
Yup. The only thing the general public knows about at the moment is bitcoin and half of them probably don’t even know it’s not a physical object. The crypto market has yet to gain mass awareness, let alone adoption. Look at Ripple and some of the 2nd and 3rd generation blockchain companies developing their infrastructures and focusing their efforts on branding and developing B2B partnerships. Most players will have to enter the playing field eventually. The market cap will have to rise exponentially for all this. This isn’t going away anytime soon.
Would it be a sound strategy to just invest like 2k in each of the most popular cryptocurrencies out there right now and just forget about them for like a year?
Following what dt79 wrote above- I’m guessing bitcoin’s price skyrocketed largely because it’s the one the public knows about the most.
If this is the case, then are we in a situation where bitcoin will drop as the public and institutions become more aware of the technology and figure that there are possibly better applications out there, or will popularity be the defining factor?
You probably want to do more research on all this as 1)All my opinions may turn out to be bullshit and the bubble has already popped, and 2)There is increased competition with really good fundementals as opposed to just 1 year ago where you had a couple of good coins with a lot of scams and crap released by people who didn’t know how to move forward.
IMO, holding and accumulating is the best strategy.
BTC, LTC, ETH, and now BCH are on Coinbase. For those who are uncomfortable with cryptos, this is the most ‘risk’ they’re willing to take. The people I have talked to are beyond freaked to transfer funds from one wallet to the next. The only way to buy alts is to move it to an exchange where you buy alts using BTC or ETH.
@dt79 Bittrex announced they will be supporting the airdrop. Makes receiving the coins ridiculously easy.
EDIT:
For NXT? Dammit I sold mine already but thanks for the info lol.
Sorry, I’m an utter newb at cryptocurrencies.
Are you saying that BTC/LTC/ETH/BCH are skyrocketing because they’re on Coinbase, and thus easy for the public to trade in them?
Nothing has changed regarding the validity/strength of cryptocurrencies from a year before and now.
In spite of that, the price of the two most popular cryptocurrencies skyrocketed.
What am I supposed to research here!@#!@%!
As far as I can tell, this is fucking voodoo magic.
The only new info seems to be that the big institutions are now looking to get into the business, which seems to be what is driving interest in bitcoin.
The current limitation to cryptos is adaption. People are still very leery of cryptos. The four I listed above are available via an easy-to-use iphone app that functions like every other iphone app. It’s less risky to potential adapters. Conversely, bittrex and other exchanges require you to transfer funds from Coinbase, in addition the UI was clearly developed by a programmer. It’s clunky, doesn’t move intuitively and you have to mentally convert prices from crypto price > BTC > to cash. Since BTC is always moving, it can be difficult to know what price you bought or sold at.
NXT is still fairly cheap at $1.10. It was a few dimes higher yesterday at the peak.