The Political Intervention Risk Factor

bigtx31 (51) · 7 years ago

Agreed, I think that is my most significant hesitation with cryptos. That being said, there clearly isn't a consensus view yet on how to regulate, which I think will mean slower regulations to be implemented. It's important to note that drafting of rules still results in at least a 6 month lag time to implementation, assuming adoption. Given South Korea's recent announcement that they're holding off on regulations for now (but monitoring closely), I think it's clear that governments don't yet understand blockchain well enough to feel confident in enforcement.

That all being said, it's definitely worth folks monitoring the regulations of their home countries carefully - this is definitely the chief risk in my opinion for investors (followed by sheer investor-driven volume volatility).

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4 votes

dirkboy41 (53) · 7 years ago (edited)

The government will continue to learn and figure out ways they can get a piece of the action. This has already started in the way crypto gains will have to be reported when it comes to taxes. Once they gain a full understanding I'm sure there will be more and more regulations to come.

@cryptographic will you be posting your trades in and out of BTS anywhere?

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newageinv (70) · 7 years ago

The key word you mention is enforcement. That will be difficult for any government to do given the decentralized technology of these assets. I feel that they are also trying to expect their financial system and fiat currencies given the inefficiencies they know exist with them relative to some of the Crypto assets available today.

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kartiksingh (65) · 7 years ago

Exactly both steem & bitshares has very low risk. They are showing very steady growth...... no pumps & dumps.... .... & qualities in steem everyone knows here......both have brightest future. Totally agree with you.

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yonny (60) · 7 years ago

Why would a country want remove themselves from a revolution? Short term control but long term consequences.

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4 votes

cryptographic (64) · 7 years ago (edited)

Nobody wants to ban or remove themselves from anything.

It's actually the opposite: they don't want to be left out; they want to tax it like any other investment.

They want to get their grubby hands on it!

That could hurt anything that isn't compliance ready . . . hurt really bad.

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yonny (60) · 7 years ago

I hate there grubby hands, but at least steemit is like a hedge against regulatory hungry governments. Maybe soak up a load of capital from uncompliant chains :)

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adamo26 (38) · 7 years ago

EXACTLY!

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darksea (55) · 7 years ago

Mnuchin "One of the areas we will work very closely with the G20 is that it will not turn into Swiss bank accounts," he said, pointing to the G20's readiness to handle cyrpto currency controls. This is proof that we will have troubled days ahead @cryptographic

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https://cointelegraph.com/news/us-treasury-secretary-addresses-anonymity-sanctions-and-digital-currencies

cryptographic (64) · 7 years ago

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darksea (55) · 7 years ago

Thank you for sharing this link. Mnuchin doesn’t seem to understand that not all wallets are hosted by “companies.” I strongly agree with this. Mnuchin certainly needs to do some more research. @cryptographic

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veleje (49) · 7 years ago (edited)

Yes, and just few days ago, there was a news, that USA is "in talks " with top 20 countries regarding the cryptocurrencies.

Central banks are running the world and they are essentially writing the laws. They feel threatened. Who needs the banks when you can be your own banker! They will not go without the fight. And they have a power and the leverage. :-(

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markzuckerbergs (56) · 7 years ago

He wants new regulation targeted at virtual currencies, to stop them from being used for tax evasion, financing terrorism and other crime.This is good decision i think because some people in europe is misusing bitcoin. Steem is best cryptocurrency , no crime is registered under it.It is free from all risk factors.
Upvoted & Resteemed

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ervinneb (61) · 7 years ago

I really think this will be for the most part of 2018. I think in the next 10 days, a lot will be known. If you are interested, you can check my article here

But I don't think at this point, this train can be stopped.

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cryptographic (64) · 7 years ago

Yes indeed, Davos could give us a surprise.

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ervinneb (61) · 7 years ago

I don't think massive news are needed. Investors are a bit wary lately, so in my opinion the slightest news can lead to a 20-30-40% move. Thank you for reading my article, hope you liked it !

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theguruasia (67) · 7 years ago (edited)

@cryptographic,
STEEM and BITSHARES, something probably different than common crypto currency. Specially while I can't disagree with this statement!
Most of crypto currencies are fraudulent and bubbles
But here, STEEM and BTS build top of the Graphene blockchain technology and backed by real projects! Specially STEEM, a social media platform and backed by more real projects when SMT launch!
So, no one can say this is a bubble! Moreover, BTS it's basically built as a financial blockchain and for me it's the fastest blockchain ever!
Therefore, no one can ever say those are bubbles. But as I said you before, lot of bubbles are out there

Cheers~

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slayer10 (56) · 7 years ago

Did I do something wrong ? I follow you closely. And you are a very generous person, but you have not commented on me. @cryptographic

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sthitaprajna (62) · 7 years ago

Like 2017 was the year for bitcoin, 2018 is going to be the year for altcoin.

There will be many talks like this in political sphere and I am not sure about the Bitcoin price where it will go in 2018, but from altcoins some of the coins will stand tall and steem and BTS are the ones among them and steem is not yet gone to that level and it has much more room to go. and BTS is always an attractive cryptocurrency because of its decentralized nature and probaly its leading the path of decentralized exchange.

Thank you cryptographic....steem on and stay blissful....

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cryptographic (64) · 7 years ago

You could very well be right.

BTW, did you adopt the stray dog that went jogging with you the other day? She'd be a great companion who'd be forever grateful. 🙂

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sthitaprajna (62) · 7 years ago

Well I stay in a rented accommodation , so my house owner does not allow that dog, else I would have, but that stray dog is now friend and we used to spent some time together in the evening on regular basis and I used to carry some food for her daily while going for walk to that park and she used to even wait for me, but in future I definite do something more for her.

Thank you so much @cryptographic....steem on ....

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kingsberry (58) · 7 years ago

Cryptocurrency growing more faster. So Any states banks can't do look these situation. Lot of banks troubled and suffered from crypto blockchain. Government try ban or control blockchain in this fact. France situation was one of thing. Chinese volume was reduced in January, after authorities banned no-fee trading, and exchanges in Korea absorbed that trading capacity. Bitcoin has shown its resilience to government intervention several times in the last twelve months.We'll see what to do.

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aquia10 (52) · 7 years ago

@cryptographic It was already clear that the acceptance period of the crypto money would be troubled.especially D. Trump, making moves that clearly show opposition.BitCoin is preventing value increase.crypto money market is at risk.

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steemwija (58) · 7 years ago

@cryptographic - Sir no matter what happened to other coins... STEEM & BTS never showed high dump & pump, so they do a genuine crypto work with lots of good projects & speed also... Therefore, Sir we must HODL them... 2018 will be rox with these two coins Sir...

+W+

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cyberblock (65) · 7 years ago

2018 will be the year where uncompliant coins disappear, especially crypto's with no use case and surviving on pure speculation. Use case coins like steemit will emerge as giants in the blockchain space! Can't wait to witness it happen.

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gold84 (63) · 7 years ago

Hi @cryptographic , yes, many countries are already thinking on ways to regulñate cryptocurrencies, or see a way to get into it. In my believe blockchain technology is unstoppable so they will need to find a way to regulate it, because they will not be able to shut down the technology in the way it is thought and designed, it is expanded everywhere. So its practically imnpossible to shut blockchains down. What are your thoughts?

By the way, going back to the full steemit guide, I have not seen your feedback on Chapter #6. I mentioned you and the great post of self-enlightment! Your support in the Chapter will be very appreciated too!

--
Chapter 6 of 11: Learning about "The Vision of its Creators, & the Power of the Steem Blockchain (Current Huge Developments and the ones in Process)" **
https://steemit.com/steem/@gold84/chapter-6-of-11-learning-about-the-vision-of-its-creators-and-the-power-of-the-steem-blockchain-current-huge-developments-and

Looking forward to hear from you!

Regards, @gold84

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adnanrabbani (70) · 7 years ago

i agree with your points steem and bitshares are moving nicely and i am sure both of them have a very bright future ahead, thanks for sharing your nice thoughts with us, Stay blessed

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anikearn (65) · 7 years ago

Totally i agree with you.I am surprised to hear that Bruno Le Mayier ordered the head of the former central bank to dismiss the possible new rules. I would like some advice from you whether I should sell or keep my savings?

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mywhale (53) · 7 years ago

Hello @cryptographic,

Extraordinary good topic you decided to cover today.
My personal perspective says Banning Crypto currencies is a myth. But the influence of central banks, we can't neglect in any cost. Some points they highlighted are correct & some points are just their ideas.
To put cryptocurrency under full control, the authorities must first put the Internet under control. - Sergei Sevriugin
That's why I believe Ban on crypto currency is a myth. But currencies like BTC, ETH, XRP gets the demand for their names. But world is too far away from them. Here you mentioned 2 projects Steem & Bts. They didn't show high fluctuation like those top projects did. Therefore, we all must believe Steem & Bts are the future of currency crypto world.
Incredible discussion & valuable content you shared today. Thank you.

~@mywhale

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minoservice (52) · 7 years ago

Great topic. thanks for the information and totally agree with you.

Resteem

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slayer10 (56) · 7 years ago (edited)

So far, only a few countries, including Morocco and Bolivia, have put a complete crypto money ban. South Korea can follow these bans. Francois Villeroy de Galhau emphasized the lack of consensus on crypto money availability. @cryptographic
And I think bitcoin will be successful against these problems.

And I upvoted to you and reestemed sir

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slayer10 (56) · 7 years ago

In general, most people talk about the topic they worry about. Like most people I've talked about Bitcoin, he talked about the lack of support. Some see it as a virtual fraud. But I think there is a very successful graph, and this high value is only attracting much attention. But nobody forget. They always try to bring down the top one. @cryptographic

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sniper08 (48) · 7 years ago

turkish political opinion
The Tanrikulu report included the following statements:

"Currently, a large number of crypto currency in Turkey accepts payments by businesses, the number of customers using Bitcoin style crypto currencies is increasing. If our legislation does not have any discourse about crypto money and it is legal to use crypto money as long as there are no illegal activities such as tax evasion or money laundering by using crypto money. Therefore crypto shop with coins in Turkey by investing in buy-sell and make money by mining in Turkey to produce crypto crime is not covered yet. "

The report back from the world in order to remain in Turkey as well as it should for a moment before starting to work on legislation crypto currency system was specified.

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durgaani (55) · 7 years ago

@cryptographic...yeah present the main reason for the low tradings in cryptocurrency market is the regulations and rules of the governments in some countries..in america and chain they are focusing about the bitcoin and also they want to put a new restriction s in the buyer and sellers of the crypto..in south koria already bitcoin tradings are stoped due to the their traders acccounts of transactions are not linked with a kyc...so thats the reason present bad market is running in the crypto field ..the main reason for this is sudden raise of the bitcoin price in last few days back so that the reason causes the all heads turns into a bitcoin and every one want to know the reason behind the sudden growth..so the market present in babbole staste..the investors also little fear about this present condition....thank you for sharing this information with us......

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anik199 (40) · 7 years ago

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stardivine (57) · 7 years ago

I completely agree with you.
In some countries Cryptocurrency and bitcoins were banned.
Government and general people who don't know about Bitcoin market daid that it is an illegal.
Bitcoin trending is banned in many countries.
Mostly, people uses this bitcoins to get black money.
But by this, the innocent people getting trapped in trouble.

Thanks @cryptographic for sharing this post.

Upvoted + Resteemed your post.

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beyfendi (52) · 7 years ago

"It needs to be clear. Bitcoin is not a currency, not even a crypt money. (Bitcoin) is a speculative entity. There is no economic base for its value and variability, and it is not anyone's responsibility. The Bank of France reminds those who invest in Bitcoin that they are entirely at risk. "France Bank manager Francois Villeroy de Galhau directly opposed the fact that Bitcoin was a "currency" and said that Bitcoin should not be treated that way... @cryptographic

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beyfendi (52) · 7 years ago

I think,these kinds of explanations do not harm the crypto money, but rather add value..

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anik-hassan (36) · 7 years ago

This is good decision i think because some people in europe is misusing bitcoin. Steem is best cryptocurrency , no crime is registered under it.It is free from all risk factors.
Upvoted & Resteemed

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adamo26 (38) · 7 years ago

What's insane is that cryptos are still very 'young' and yet there is so many obstacles put in front of them, so many regulations, taxes, fines, bans and it is STILL going STRONG. This shows how crucial and how futuristic the blockchain technology is. People should take a few steps back amd realize that NOW, because by the time they do.... It's going to be too late...

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venox (48) · 7 years ago

Thanks for sharing sir ♥

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ericjordan (10) · 7 years ago

i Was sure, i'm french and our gouvernment try to fuck us by all the way!
but i hope is only blabla...

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benmnawalid (37) · 7 years ago (edited)

we need independence in our finance, it does not concern the banks nor the state thanks for the cryptocurrency, vote for u

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resteemia (56) · 7 years ago

'political intervention is a crytpo risk factor that is growing faster and faster by the day' agreed, but not on steem & bts. above chart is the proof. all first 3 coins are price manipulations, but steem & bts? any child can see the different :) @cryptographic

@resteemia
reteemed & upvoted & commented & followed

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postar13 (41) · 7 years ago

Hello. If I ask, I've come to the right time for you, because with your help I will be able to learn something and how will it happen in the future with crypto currencies. Most importantly, I am in a group that has the right currency

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adityabhat (48) · 7 years ago

Political intervention is just market manipulation. People who know their shit aren't really going to sell off their cryptos. Whenever such news comes, people sell it off thinking it will crash. But in reality, all this fake news just gets more people into it and it just increases after a small dip. The governments can't do shit.

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mysearchisover (70) · 7 years ago

Can they even touch us?

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salahchiva (59) · 7 years ago

I have a question and I want to know your point of view
In the near or medium term, we can see the demise and the end of the banks and the control of electronic currencies on the market. Personally, I think this will happen
what is your comment
ْ@cryptographic

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aussieninja (62) · 7 years ago

What does this mean, do you think? It feels like the term 'Political Intervention' could mean absolutely anything.. I also wonder if it'll just increase a demand for the privacy coins...

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yonny (60) · 7 years ago

Just more mumbo jumbo to me. They aren't really sure what they want to go with crypto. It will be a future altering decision for each country, hopefully they're taking it serious.

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rehan12 (73) · 7 years ago

Damn politicians they do know what to do & when to do !
I really hope they do not get hands on any of the crypto in any ways lol !
As for Steem & Bitshares they do have a great future ahead of them that is for sure and the improvement going on in Steemit is very much in near future there seems to be something good on the way for Steem !

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dragonking (57) · 7 years ago

Why expect steem and bitshares? steem and bitshares great investment methods. But steem has very low risk (maybe no more) and seems very slow gaining. As this condition another tokens has high risky and high growth.
I think today France take a decision and tomorrow will be next powerful country. As my opinion Political intervention in not deserve to us (cryptocurrency investors/ traders)

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goldcoin (66) · 7 years ago

Yes i agree with you. STEEM and BitShares Is low risk. this is very important
information and useful
Thanks @cryptographic
Have a great day

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grisotti (11) · 7 years ago

Governments are powerless in the cryptocurrency!

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crypto-wisdom (61) · 7 years ago

I personally consider BTS, EOS and STEEM as three sisters and all these three sisters are very strong in their respective fundamental values.

The marketcap of BTS is in top 40 in coinmarketcap and it is now next to STEEM

BTS is hack proof and it can never be hacked

Like the currency is decentralized, so as the need for trading exchanges to be centralized well and in the crypto sphere, if any future revolution take place, then it will be decentralized exchanges and BTS is number one DEX in this world.

BTS also has the longest chain

I still consider STEEM to trade at 25 usd at some poinjt of time in 2018

EOS is the third generation cryptocurrency

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miguelportela (55) · 7 years ago

There is so much money involved that is normal they want to regulate some how!!!
But i don't think there is much one can do without break some fundamental rights...

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madushanka (74) · 7 years ago (edited)

Absolutely Political Intervention would be cryto risk. This is a bad situation to all countries. Daily wise all governments try to contro crypto blockchain. Cryptocurrencies digital assets which exist entirely online but are exchangeable for goods or services have grown in popularity in recent years, in part because they grant a degree of user anonymity. Coinbase is the largest bitcoin exchange and its best-known brand.But user confidentiality has also caused headaches for governments, who worry the currencies are being used for money laundering or tax evasion. Digital currencies are currently taxed as an asset like gold, with capital gains tax due when there is an appreciation in value. All see past days some of countries banned cryptocurrency. Today bad for France... Tomorrow???????

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blazing (70) · 7 years ago

this will go more and more with each country decision but good for long term i think

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oguns (46) · 7 years ago

Please!; Government should not even dare intervene in cryptocurrency.

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cityslicker (58) · 7 years ago

what will happen if they ban it every where

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emmakwisequote (48) · 7 years ago

I don't see a need to regulate what you don't understand. Government don't understans how cryptocurrency operate,so regulating it might affect the system negatively. But this is what government have decided to do,the incestors should not invest should open their brain before they ivest so as not to loose all their hard earn money. I hope this does not affect the growth of cryptocurrency. Thanks for the information

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steem2000 (46) · 7 years ago

@cryptographic Such a great article

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cranium (76) · 7 years ago

Well said. After all, no policy is capable of influencing the decentralized Crypto currency. I'm glad to read your article again, I'm sorry I missed commenting for a long time, I'll make up for this hour. Good luck to you and Kind.

Отлично сказано. Ведь, никакая политика, не способна повлиять на децентрализованную криптовалюту. Я рад снова читать Вашу статью, жаль я долгое время пропускал комментирования, сей час я наверстаю. Удачи Вам и Добра.

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minnowhelper (53) · 7 years ago

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