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"Only invest what you are willing and able to lose." Never thought I'd hear the government give positive/neutral investing advice on Bitcoin. I think all the
by LAMike 9y ago
"Only invest what you are willing and able to lose."
Never thought I'd hear the government give positive/neutral investing advice on Bitcoin.
I think all the agencies are going to fight to classify something they can control. Is it a commodity, property, stock, a digital gold or something else?
- josh2600 9y agoThis is the advice that all agencies give regarding investments. In this regard there's nothing special about cryptocurrency. Re: regulation, so far it is property from a taxation perspective and either property or a security from a regulation perspective. Instruments on top are regulated as all derivative financial products are.
- dogruck 9y agoI wouldn't characterize the 20 slide deck as "neutral." Namely, 6 of the 20 slides warn about risks that can be summarized as "you have no recourse if something goes wrong." I think the primary publication motivation was to protect the CFTC. "Why didn't you say something?"
- Sangermaine 9y ago>I wouldn't characterize the 20 slide deck as "neutral." Namely, 6 of the 20 slides warn about risks that can be summarized as "you have no recourse if something goes wrong." How is that not neutral? It's just stating simple fact.
- dogruck 9y agoIf the CFTC writes a report about, say, Corn Futures, they talk about what the rules are, and what you can do if you get scammed because a bad actor violates those rules. The CFTC might say, "you have the right to appeal a decision" yada yada. But here, they're just saying, effectively, "look, we warned you."
- deleted 9y ago[deleted]