Bitcoin...Cryptocurrency

[Skinny]

Who tuned into the Committee on Banking Housing and Urban Affairs' hearing this morning? Felt very positive for Bitcoin regarding long term regulations. The chairmen of the SEC and CFTC (especially CFTC chairmen) were talking like BTC is here to stay.

ICOs are about to get the ever living snot kicked out of them by the SEC. SEC chairmen stated that ICOs are definitely securities. Bad bad news for alts.

Can you explain your last sentence please? Thanks


Skinny

[Skinny]

Just found this...interesting.




Skinny

[justintyme8303]

Thats how I see it too what do they care what I spend my money on either way its unsecured debit they are making money on.

[Sleepy]

Just found this...interesting.




Skinny

Seems logical. Or maybe he’s just talking you into buying more TRON

[Jtrage]

I think banks not allowing credit cards is good. I’m sure there are folks out there in some serious credit card debt because of crypto...and more than likely, a majority of what they invested is gone.

Pretty sure you can’t buy lotto tickets with credit cards. Prolly can’t slap your credit card down at the blackjack table either. I see no difference here I reckon.

Maybe someone has a different point of view, but gambling with credit doesn’t sound too smart to me!


Skinny

I completely agree. There are too many people trying to make a big deal out of this though. As to say that the banks aren't supporting it period. I've used your lottery ticket example to explain it away.

[texasdeerhunter]

Who tuned into the Committee on Banking Housing and Urban Affairs' hearing this morning? Felt very positive for Bitcoin regarding long term regulations. The chairmen of the SEC and CFTC (especially CFTC chairmen) were talking like BTC is here to stay.

ICOs are about to get the ever living snot kicked out of them by the SEC. SEC chairmen stated that ICOs are definitely securities. Bad bad news for alts.

I’m not sure I follow the reasoning here, I’ll need to do some research. If the SEC views ICOs as securities, then that, to me, means the alt coins already out there (after their ico) would become more valuable, because the new coins are the ones that will be faced with the regulatory burden. The old ones may get “grandfathered in” just by virtue of already having their coin established.

Also, bitcoin and others aren’t much different than alt coins, so I would think that any crypto coin would be subject to this, not just the alt coins

[CJ776]

Can you explain your last sentence please? Thanks


Skinny

The SEC chairmen stated that ICOs are definitely securities and thus fall under the regulations of the SEC (Securities & Exchange Commission). This means ICOs need to start filing with the SEC and alerting them before they start selling their token (securities). That filing allows the SEC to oversee and scrutinize their processes, make sure they're adequately disclosing, actually have a business plan for how their token will be used etc... No more READ THE WHITE PAPER JARGON AND BUY OUR COINS! 100X Returns guaranteed! Not only that... if you're selling a security you generally need a license.... They did not define bitcoin as a security or commodity or currency (everyone said it was some combination of all the above).

Lotta people get murdered by these vaporware coins that have no basis or real plan to use their token as described. They read whatever garage is on the ICO site and believe it blindly. SEC wants to stop that. Chairman also stated that SEC will be working with DOJ on ICOs. Idk if that means they are going after already completed ICOs or what.

Bottom line. SEC wants to regulate the crap outta ICOs and may involve the DOJ. In a market like crypto, more regulation and the chairmen of the SEC saying he's coming after you is generally bad. Now long term, this should limit the amount of Alt coins (s-coins) by reducing # of ICOs. May strengthen the Alt coins that made it through... (Eth, Litecoin)

[Skinny]

The SEC chairmen stated that ICOs are definitely securities and thus fall under the regulations of the SEC (Securities & Exchange Commission). This means ICOs need to start filing with the SEC and alerting them before they start selling their token (securities). That filing allows the SEC to oversee and scrutinize their processes, make sure they're adequately disclosing, actually have a business plan for how their token will be used etc... No more READ THE WHITE PAPER JARGON AND BUY OUR COINS! 100X Returns guaranteed! Not only that... if you're selling a security you generally need a license.... They did not define bitcoin as a security or commodity or currency (everyone said it was some combination of all the above).



Lotta people get murdered by these vaporware coins that have no basis or real plan to use their token as described. They read whatever garage is on the ICO site and believe it blindly. SEC wants to stop that. Chairman also stated that SEC will be working with DOJ on ICOs. Idk if that means they are going after already completed ICOs or what.



Bottom line. SEC wants to regulate the crap outta ICOs and may involve the DOJ. In a market like crypto, more regulation and the chairmen of the SEC saying he's coming after you is generally bad. Now long term, this should limit the amount of Alt coins (s-coins) by reducing # of ICOs. May strengthen the Alt coins that made it through... (Eth, Litecoin)

Good info. Thanks for clarifying.




Skinny

[CJ776]

If the SEC views ICOs as securities, then that, to me, means the alt coins already out there (after their ico) would become more valuable,

Agreed possible outcome see my post. The unregulated raising of massive amounts of capital with no regulatory oversight is pissing off the SEC. Maybe I should rephrase and say bad news for ICOs. Possible bad news for alts that had big ICOs that the SEC had eyes on.

[CJ776]

Here is a link to the hearing y'all.

https://www.banking.senate.gov/publi...ing-commission

[texasdeerhunter]

Good info

[Burntorange Bowhunter]

My head hurts.

[Skinny]

My head hurts.

Skinny

[Ironman]

My head hurts.

If my head looked like that,.........

[RiverRat1]

I never got the tron, even my .47 ripple is not looking good these days.

HODL is now a necessity, lol.

BagHODLers is more like it.

Just joking around. I'd probably buy a few here if I had an account open.