nt.)
This week, two federal agencies—the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC)—are preparing to send reports to Congress about crypto assets.
Even the G20 (a group of 19 major national economies and the European Union) is threatening to take cryptos more seriously.
All of this scrutiny has people scared that we’ll see a coordinated global effort to snuff out bitcoin and crypto assets.
I believe this fear is overblown.
Global governments have much bigger problems than bitcoin. The idea that they’ll all join hands and put their differences aside in the relentless pursuit of crushing bitcoin appears farfetched to me.
Instead, we’re seeing the maturing of the crypto asset class.
None of this is inherently bad. For cryptos to make the leap to a multitrillion-dollar asset class… some form of regulatory framework must be in place.
I think it’s an overreaction to assume that all governments want to destroy the crypto asset market.
Even if they wanted to, the decentralized nature of bitcoin and other crypto assets makes it impossible for governments to eliminate them (just ask China).
Governments can certainly make things more difficult by shutting down the exchanges. But as we’ve already seen, even when the most important market in the space—China—decided to shut down its exchanges, other countries such as Japan welcomed the Chinese exchange operators with open arms.
The Crypto Genie Is Out of the Bottle
Governments can wail and gnash all they want… but nothing will remove cryptos from the market. The asset class is here to stay. And I think U.S. regulatory bodies understand this reality.
That’s why I think the CFTC and SEC hearings will be more concerned with curtailing initial coin offering (ICO) fraud than trying to kill all things crypto-related.
The CFTC approved bitcoin futures this past December. It would hardly make sense for it to greenlight futures and then expend resources to destroy the asset class.
That’s why I think the current regulatory fears washing through the crypto markets are overblown. Just like they were during the many scary periods I went through with crypto in 2017.
Then, like now, I offered the same advice: Make sure you have rational position sizes. Stop checking prices. Don’t worry about how long this sell-off will last. No one can answer that question with anything more than a guess. (That said, I’m currently working on an essay that will offer my best guess.)
I’ll leave you with this…
The biggest mistake I made in the decades of the late 1980s and ’90s was to underestimate just how powerful an impact technology would have on the future. I under-owned—and sold too quickly—some of the biggest winners of the past 25 years.
I’m not going to make that mistake twice.
The blockchain and crypto assets are a new breed of technology that will have as much (if not more) of an impact on the world as the tech companies of the 1980s and 1990s have today.
Let the Game Come to You!
Big T
This week, two federal agencies—the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC)—are preparing to send reports to Congress about crypto assets.
Even the G20 (a group of 19 major national economies and the European Union) is threatening to take cryptos more seriously.
All of this scrutiny has people scared that we’ll see a coordinated global effort to snuff out bitcoin and crypto assets.
I believe this fear is overblown.
Global governments have much bigger problems than bitcoin. The idea that they’ll all join hands and put their differences aside in the relentless pursuit of crushing bitcoin appears farfetched to me.
Instead, we’re seeing the maturing of the crypto asset class.
None of this is inherently bad. For cryptos to make the leap to a multitrillion-dollar asset class… some form of regulatory framework must be in place.
I think it’s an overreaction to assume that all governments want to destroy the crypto asset market.
Even if they wanted to, the decentralized nature of bitcoin and other crypto assets makes it impossible for governments to eliminate them (just ask China).
Governments can certainly make things more difficult by shutting down the exchanges. But as we’ve already seen, even when the most important market in the space—China—decided to shut down its exchanges, other countries such as Japan welcomed the Chinese exchange operators with open arms.
The Crypto Genie Is Out of the Bottle
Governments can wail and gnash all they want… but nothing will remove cryptos from the market. The asset class is here to stay. And I think U.S. regulatory bodies understand this reality.
That’s why I think the CFTC and SEC hearings will be more concerned with curtailing initial coin offering (ICO) fraud than trying to kill all things crypto-related.
The CFTC approved bitcoin futures this past December. It would hardly make sense for it to greenlight futures and then expend resources to destroy the asset class.
That’s why I think the current regulatory fears washing through the crypto markets are overblown. Just like they were during the many scary periods I went through with crypto in 2017.
Then, like now, I offered the same advice: Make sure you have rational position sizes. Stop checking prices. Don’t worry about how long this sell-off will last. No one can answer that question with anything more than a guess. (That said, I’m currently working on an essay that will offer my best guess.)
I’ll leave you with this…
The biggest mistake I made in the decades of the late 1980s and ’90s was to underestimate just how powerful an impact technology would have on the future. I under-owned—and sold too quickly—some of the biggest winners of the past 25 years.
I’m not going to make that mistake twice.
The blockchain and crypto assets are a new breed of technology that will have as much (if not more) of an impact on the world as the tech companies of the 1980s and 1990s have today.
Let the Game Come to You!
Big T
Основная рекомендациия pbc:
Recommendation: Buy GIFTO (GTO)
Buy-up-to Price: $0.80
Stop Loss: None
Buy It On: Binance
Store It On: MyEtherWallet
Recommendation: Buy GIFTO (GTO)
Buy-up-to Price: $0.80
Stop Loss: None
Buy It On: Binance
Store It On: MyEtherWallet
Впредь тут будет появляться свежий выпуск переведённый профи на рус язык. Знаменитого Блогера Картера Томоса .
Читайте сутра вместо газетки))
Читайте сутра вместо газетки))
telegram_cloud_document_5_6109662562779922473.pdf
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PALM BEACH NEWS
Since the extremely positive reception from both the EU Parliament and the US Securites and Exchange Comission, the legitimacy of cryptocurrencies adoption has been booming internationally. Multiple US states have been pushing to reduce and accept taxes through cryptocurrency, a huge step forward in utility as a currency. China’s top political advisory board has even proposed for the creation of a national cryptocurrency trading platform. It is impossible to deny the global acceptance of this new asset class.
Perhaps the most telling sign is how traditional financial institutions have been beginning to respond. Bank Of America, Citigroup, JP Morgan, Capital One and Discover have began barring their users from purchasing cryptocurrencies with credit cards. Banks are now reacting to what is a clear threat to their industries by limiting access and exposure to these services.
Despite these setbacks, cryptocurrencies have just begun formal international acceptance, and will continue to grow. Institutional money continues to flood the market, through new ICOs and 70% of Bitcoin trading is done OTC. These obstacles are insignificant attempts at delaying the inevitable.
Due to the overwhelmingly positive reception from our current subs, we have decided to reopen subnoscriptions for a limited time. This offer is only valid while spots are available.
Since the extremely positive reception from both the EU Parliament and the US Securites and Exchange Comission, the legitimacy of cryptocurrencies adoption has been booming internationally. Multiple US states have been pushing to reduce and accept taxes through cryptocurrency, a huge step forward in utility as a currency. China’s top political advisory board has even proposed for the creation of a national cryptocurrency trading platform. It is impossible to deny the global acceptance of this new asset class.
Perhaps the most telling sign is how traditional financial institutions have been beginning to respond. Bank Of America, Citigroup, JP Morgan, Capital One and Discover have began barring their users from purchasing cryptocurrencies with credit cards. Banks are now reacting to what is a clear threat to their industries by limiting access and exposure to these services.
Despite these setbacks, cryptocurrencies have just begun formal international acceptance, and will continue to grow. Institutional money continues to flood the market, through new ICOs and 70% of Bitcoin trading is done OTC. These obstacles are insignificant attempts at delaying the inevitable.
Due to the overwhelmingly positive reception from our current subs, we have decided to reopen subnoscriptions for a limited time. This offer is only valid while spots are available.