Showing posts with label Bitcoin. Show all posts
Showing posts with label Bitcoin. Show all posts

21 August 2018

ICO? Do not buy what you do not understand

Initial Coin Offerings (short ICO) are an offshoot of the Cryptocurrency Craze, of which Bitcoin is the most prominent product. Quite apart from the fact that most (not even financial experts) do not really understand the concept of ICO's in many cases the use to which the proceeds - your money! - is being put is also less than transparent. What protection do you get once your money is (hopefully) invested? How are profits (if any) shared between public investors and the promoters/insiders? I remain sceptical of all Cryptocurrencies - for better or worse we do HAVE a money and payment system that functions reasonably well. It only goes haywire if some crazed politicians get out of control (Venezuela, Argentina, Turkey for ex). Payments to anywhere in the world can be made in an instant and on superfine rates if you know where to look.
Too many ICO -peddle outright Fraud says regulator

10 August 2018

Academics and Bitcoin - a curious Mix

On a day when there is a report out about the confused approach of regulators regarding the $200 billion 'cryptocurrency' market another report caught my eye: Academics study the probability that bitcoin's price will fall to zero - in one day! But a similar calculation would be to find the probability that a meteor hits the earth and wipes out all life - interesting but pretty useless. Cryptocurrencies serve those in failed states quite well, in addition to criminals and tax cheats. Use your common sense!
How likely it is that bitcoin will become worthless? (CNBC)

1 December 2017

Bitcoin: The drumbeat goes on

The drumbeat goes on, any number of self-appointed 'experts'  push bitcoin etal, still not clear what 'value' it has or provides, just question of time that regulators impose restrictions, to market, buy/sell it through traditional banking channels unless full 'know your customer' disclosure is made. and who REALLY needs bitcoins, internet banking is so efficient already! Price easily manipulated due to complete lack of transparency, and who are the idiots that pay $10,000 for a bit with REAL money?
Here's why not to put your money into bitcoin (Evening Standard)

5 October 2017

Bitcoin: What is the Value of Hot Air?

Let self-interested promoters and their acolytes in the Media invest their hard-earned savings in a bit of (hot) air, or better: some digits in a far-away computer that nobody controls. Shares (hopefully) pay dividends, bonds pay interest, land can be rented out, but bitcoins and the like? Nothing but the hope of finding a Greater Fool down the road.
And Bitstamp, a 'digital currency exchange', should it not be banned from calling itself as an exchange by the SEC and fellow regulators? No surprise that its chairman sings the praises of 'crypto' 'currencies' (their are neither crypto nor currencies, you might as well start paying your groceries with some rare shells)
CNBC

4 October 2017

Bitcoin etc - easy to manipulate price, regulators asleep

No mystery, no one can really say how the prices of bitcoin etal are established. Who buys, sells? Can it be manipulated? Is it manipulated? Especially all over Asia the 'new capitalists' are playing with numbers that defy the imagination of people who grew up in established market economies, warts and all. How much does it take to push the prices around? 10 million, 100, 500? No problem for the new Oligarchs! And they know there is a sucker born every minute (second more likely).

22 August 2017

Bitcoin Hype - Regulators asleep or afraid?

Given the thousands of pages of detailed regulation that has been produced in all major industrial countries one has to wonder why the Regulators are keeping stumm about the Bitcoin craze. Claims that Digital 'Currencies' are clearly misleading. Neither are they a safe haven, they are digital assets and given the way they are offered and promoted they are investments and as such should be brought under regulatory umbrellas.
The price of Bitcoin and Ethereum is slipping but Bitcoin Cash is rising

9 August 2017

Russia Launches $100 Million Bitcoin-Mining Operation

I may be too old, or just plain stupid, but can ANYONE really make a rational case for Bitcoin, or is it just the chain letter re-invented for the Internet Age and the 'Social' media crowd hosted by quasi-monopolistic neo-feudal lords?
Russia Launches $100 Million Bitcoin-Mining Operation

4 May 2017

Is The World's Largest Bitcoin Exchange Headed For Collapse?

Exotic but risky! Remember that  Bitcoin consists of nothing but bits on some distant computer! While the same can be said of most other assets (Bank deposits, Bonds, most Shares) this is less regulated - and if it is we would like to learn about this from the promoters or fans!
Is The World's Largest Bitcoin Exchange Headed For A Mt. Gox-Style Collapse

13 April 2017

Turkey To Confiscate Gold "To Help Citizens Earn Money"

Apart from the fact that Turkey cannot be compared to your typical 'Western' or 'Liberal' Democracy the lesson is again quite clear: if you think your wealth is protected in Gold you better think carefully how to go about it! (Hint: Bitcoin it is not!)
Turkey To Confiscate Gold "To Help Citizens Earn Money"

15 March 2017

Bitcoin Hype: is it Digital Gold? Caveat Emptor!

Bitcoins compared to Gold? While Gold may not be the ultimate store of value (problems with fake gold, confiscation, safekeeping) it is still better than some digits in unknown/unsecure computers that can wiped by savy hackers or the friendly government. Remember Tulipmania in the 1600s!
Digital Gold - For Now Caveat Emptor