(Crazy) economy news

[Rockstar]

Originally Posted by Skybird

For crypto fans, there is a lesson to learn in this:

https://www.bloomberg.com/news/artic...-are-too-great

Not only do you still sell and buy cryptocurrencies in FIAT currencies, but the state does control it, does track it, and can prohibit and prevent it any time. Even anonymously bought gold places itself more advantageously.

They manipualte FIAt moeny values. They amnipuklate gold prices. The ymanipzkate stockmarkets. How comes so many peope, think they do not track and manuolukate Bitcoins as well? It is anything but invulnerable! The illusion of security from it might be fallacious.

To me, the Bitcoin/Blockchain always rather has been more interesting as a technology. It is as much a real "money" as is FIAT money: not at all, since it has zero intrinsic value. Beyond that, its just a gamble.

2021 will may be the year crypto currency withers away.



https://www.msn.com/en-us/money/mark...me/ar-BB1gTUsg

"Attacks on critical US infrastructure facilitated by cryptocurrencies will not go unnoticed by the US government and other countries. I would argue that the regulatory threat to cryptocurrencies has increased exponentially."


Critics of bitcoin and other cryptocurrencies have long argued that they facilitate crime thanks to their anonymous and decentralized nature, which means they are very hard to trace and link to individuals.
Treasury Secretary Janet Yellen said in January that she was concerned about cryptocurrencies for this reason. "I think many are used - at least in a transaction sense - mainly for illicit financing," she told lawmakers during her confirmation hearing.


Gary Gensler, the Chair of the Securities and Exchange Commission markets regulator, has made similar criticisms in the past.


"Beyond use on the darknet, there are those around the globe who seek to use these new technologies to thwart government oversight of money laundering, tax evasion, terrorism financing, or evading sanctions regimes," he told Congress in 2018.


Although cryptocurrency companies that deal with customers in the US are covered by various financial regulations, the digital asset markets is largely a grey area outside the traditional world of finance. Regulators have consistently warned that investors should only buy in if they're willing to lose all their money.