More FUD in other words. We can all see what happens once there is no FUD. Bitcoin and other currencies starts climbing. And once there is SOME good news it skyrockets.
Russia
Alexey Moiseev, the deputy finance minister of Russia said earlier this week that he expect regulation on crypto currencies and a ban on payments made with cryptos.
Note: He expect. So it is not clear.
Earlier he has said that Bitcoin should be classified as an asset.
Now, keep in mind. He is talking about payments. There is not talk about banning trading and owning Bitcoin.
South Korea
Regulators announced today that they will ban ICO's. They will ban all ICO´s regardless of it being a scam or useful technology. It is however unclear at this point if they are talking about South Korean ICO's or all ICO's. Keep in mind - they are NOT banning Crypto Currencies. Personally, I love the free unregulated market. Even a coin called useless Ethereum token raise something like $90,000 USD in a short time. The token itself says it's useless, still people invest in it. From a government, regulator perspective however, I can see why they are wanting to regulate this. I don't agree to it, but I don't think it's going to have an impact on the crypto currency market. Real coins, real technologies will not suffer from this.
Bottom line
Everyone who invest or has invested in Crypto Currencies should understand this - governments will do everything they can do stop their own fraud fiat currencies from being abolished and irrelevant.
This should not come as news to people. There will also be crypto currencies that are 100% anonymous (like Monero). It will still be easy to convert your Bitcoin into Monero and do payments that way.
What we have seen is that the Crypto-family is resistant and idealogical. We will just keep moving forwards, while the backwards governments try to stop us. That's why it is so important that we hodl and stay in it.
What I find strange and not logical is the banning. Either it is lack of understanding from the governments on what ICO is and what BlockChain technology is, which I doubt, or they need to buy time to figure things out before it takes off completely.
What we are seeing with BlockChain technology is a whole new world. A whole new system. Bitcoin is gold. Liteoin is silver. Ethereum is this new platform, in which companies are built on top of. ICO's a are simply stocks - referred to as coins.
They must understand on a macro level that this changes everything. I personally believe they are buying time with this nonsense. Anyone who are capable of hodling through this FUD, which will probably last for years has a BIG chance, bigger than anything else you will ever experience - to become unbelievably rich.
Today is one of those days I am going away with my family to do something fun. Just logging of the phone and enjoying the analog world to the fullest. But first - I am going to buy a little bit more Crypto Currencies!
I'm hodling my bitshares and my steem :)
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I haven't sold any crypto currency..ever. :D
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Rock solid strategy! I buy and sell all the time as there are many ATMs here in Vancouver :)
...but it hurts everytime
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I just think that in this early phase it is just about trying to pick the best ideas/solutions/companies/coins and hold them. If one or two of them turns out to be the next Facebook, Google or even bigger (the next Internet) you will be rich above your imagination (even with a small investment)
Perhaps even all those other 10-20 coins you own will have some value.
At this early stage it's all about positioning. I'm basically throwing way too much money into this. What am I going to do with my money? Let them rot away in a bank account? I all ready own gold, my mortgage is almost gone..And now this opportunity comes along. :)
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You sound very well positioned -- congrats!
The allure in trading is making even more money, and, if you like it it's a lot of fun.
Cheers!
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If you're into Crypto for Trading, this is good news: Bitcoin On Sale!
But on a serious note: every time theres Government Bans that are overcome, the stronger the resilience of the fundamental technology shines through.
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FUD will come and go, but crypto will live forever!
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The market does seem resilient, and despite the news from governments and headlines from folks like Dimon it always seems to bounce back. While there may be "bubblish" aspects to the market, there are other aspects that are not going way. We've posted about this also on our blog and in multiple forums.
https://steemit.com/cryptocurrency/@thehutchreport/cryptocurrencies-the-revolution-will-not-be-televised-it-will-be-steemed
Enjoy your day out! Very good idea and I hope to be back in the analog world myself in a few hours!
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Yeah. I think the market starts to understand that this technology will survive, it must. It is too important. Also, you must either go 100% full totalitarian, or let it free. I suspect they are not quite sure yet which direction to go, so they are trying to stall it while figuring out if there are ways they can regulate and tax etc. Libertarian/anarchist ideas are spreading in the world. More people see the hypocrisy and lies and corruption of government. We want change. We're tired of these old grey farts and their indoctrination camps. We've got a long way to go, and most people to convince. But more people are recruited every day, and once they fall into the rabbit hole there is no way up.
Have a great day sir!
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@scandinavianlife got you a $8.75 @minnowbooster upgoat, nice! (Image: pixabay.com)
Want a boost? Click here to read more! @originalworks
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IMO fiat currecies is perfect money (although of course at the moment the system is sick because of abuses in the interests of banks). And crypto currencies is definitely a fraud and just a way to collect money from naive people for candy wrappers (ok, digital and hi-tech candy wrappers). But while the pyramid is growing and relatively small still we have a good chance to earn. Pay for all the last members of the pyramid, I hope it's not me!))))
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I don't think you understand anything about Crypto currencies or Blockchain.
Crypto currencies are essentially stocks. And a coin is a share. What is the difference between companies built on the blockchain and regular companies?
The difference is that companies built on blockchain is the future.
Sure, there are some pyramide scheemes, and some companies wont make it - as in all emerging markets.
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Companies on NYSE (for example) are a real bussiness, produce products that people need, have revenues, work in a regulated and auditable legal field, can be easily assessed by the investor by International Financial Reporting Standards.
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Well..We will see ;)
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This post received a 1.6% upvote from @randowhale thanks to @scandinavianlife! To learn more, check out @randowhale 101 - Everything You Need to Know!
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