From CNBC
Cryptocurrencies highly speculative: Bank of Canada governor Bitcoin is like gambling, Bank of Canada governor says 9 Hours Ago | 05:58 Bitcoin trading is "gambling," Canada's central bank governor told CNBC on Thursday, adding that he was looking to work with global regulators to develop regulations around cryptocurrencies.Read more: https://www.cnbc.com/2018/01/25/bitcoin-trading-is-gambling-canada-central-bank-governor.htmlStephen Poloz, who heads up the Bank of Canada, said buyers of digital coins should "beware" and that he would not call cryptocurrencies assets.
"They are crypto but they are not currencies," Poloz told CNBC during an interview at The Sanctuary in Davos.
"I'm not really sure what they are. They are not assets really … I suppose they are securities technically … There is no intrinsic value for something like bitcoin so it's not really an asset one can analyze. It's just essentially speculative or gambling."
As a Canadian there is one word I'm very focused on here and that word is 'gambling'. In Canada proceeds of gambling are tax free. If Bitcoin is gambling then my proceeds are proceeds of gaming. Gambling / gaming is also something Canadians are allowed to do online too.
While I don't think it was his over all sentiment on crypto I do have high hopes for loose regulations in Canada.
Leave your thoughts in the comments below.
Follow @contentjunkie to stay up to date on more great posts like this one.
I bet you he has a shit tonne of bitcoin
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
It is a new message for all steemians.Thanks for your valuable and gradual post bitcoin,crypto & so on.We can gather a lot of information by your post.By dint of we can increase our skill that is beneficial for all steemians.
I will always visit your site & wait for your upcoming post.
Thanks @ contentjunkie
@Resteem & follow has done.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
If Bitcoin is gambling then so is the stock market. Its all about investing in companies.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
It's considered Gambling in the UK. The Telegraph ran an article about how Bitcoiners could get away with not paying tax on their ill gotten $$$millions because of the lax UK Tax rules.
My thoughts were:
They cant have it both ways.
If the Bitcoin Bull run is just a scam, then it is Gambling.
And winnings are Tax free.
If it is legit then possibly Tax has to be paid.
But it cannot be a scam & Legit at the same time.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
That's exactly what i'll say too if my job was to maintain centralization and threatened by a decentralized, transparent and uncontrollable monetary system.
Loser.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I just feel that all the negative, fake or mixed and confusing news about bitcoin and the spreading of FUD in the market by wallstreet and other huge financial institutions and their paid medias from various countries is just a mindgame to stop Bitcoin from having an huge growth at a short span.
I am sure these financial insitutions do want Bitcoin to grow as they are heavily invested in it. These oraganizations want control over one thing - They want the bitcoin's price increase and decrease under their control and when they want it to happen i.e. they want to dictate the volume and time of Bitcoin's growth. They basically want the investors to buy and sell when they want. This is probably the reason for sometimes negative, sometimes positive and mixed news about Bitcoin.
One thing is for sure, these institutions for sure know how to control the Bitcoin now than before.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Seems like I may have to move to 🇨🇦.
In US IRS doesn’t even know how to call crypto. They call it as a property and of course you have to pay taxes for profits. The best solution for this is to hold and buy dip.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
My take is that everything can be considered gambling nowadays. Every capital market can be manipulated provided enough capital (how ironic) is flowing either way. I say go with the (long term) flow.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
hay @contentjunkie. my name is ubay nice to meet you, iam agree with you every country must have regulation of this cryptocurrency.we need it because terrorist or moneyloundry can easy going with this crypto. i agree like south korea that make regulation to stop terrorist
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This post has received a 6.59 % upvote from @booster thanks to: @contentjunkie.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This post has received a 5.52 % upvote from @boomerang thanks to: @contentjunkie
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
You got a 3.34% upvote from @postpromoter courtesy of @contentjunkie!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This post has received gratitude of 2.49 % from @appreciator thanks to: @contentjunkie.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit