"Fortune Favors the Brave" or "The West is Full of the Graves of Pioneers"?
Posted on 01/09/2024 8:45:36 AM PST by son of terrence
The SEC’s long-standing three-part mission—to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation—remains its touchstone. The core principles the agency has applied over the past 88 years to carry out this mission are timeless: requiring issuers raising capital to make full and fair disclosures to investors on a regular basis; placing heightened responsibilities on key market participants; and using SEC examination and enforcement resources to bolster those requirements and protect investors.
(Excerpt) Read more at sec.gov ...
The SEC is a criminal organization whose purpose is to ensure the finance criminals are not harmed by anyone else.
Yet another example of our federal government serving criminal enterprises while screwing the American people.
SEC press releases read like they were written by the Babylon Bee.
I call it Bit-scam.
Caveat emptor.
I read and see your points. Is it possible or even likely though, that an implosion will never come for this item of trade?
Full disclosure; I have a spot of investment in Dogecoin.
And let’s not forget allowing ESG investments.
"Fortune Favors the Brave" or "The West is Full of the Graves of Pioneers"?
The SEC is opening Pandora’s wallet!
Any crypto-currency is the ultimate vapor-ware. It exists only in a stream of bits and bytes that can be permanently lost.
That said, world governments in general (not just the US) don’t want to crypto’s to succeed - they don’t like the competition, as crypto’s act like an alternate currency. That is that they offer a convenient method of value storage and exchange. Governments also don’t like them as they are easily converted to actual currencies around the globe, and are largely anonymous. In other words, ideal for money laundering and illicit payment activity.
And, of course, “special interests” hate them. Imagine what would happen to credit-card companies, merchant processors, banks, bank networks (SWIFT), etc. if you could bypass them and their fees on transactions.
So there is tremendous political pressure to disallow them as a category. BUT, if you could give the (US) government an ability to monitor payments globally, they’d find a way to support it.
If you think Bitcoin is a scam, or if you think Etherum or Solona are SCAMs, then take a minute to understand how they are being used.
Besides BTC having been outside of government regulation, the other two are the backbone of the financial services telecommunications network.
Blockchain is transparent. Blockchain is fast. The fastest secure blockchain will be the one most adopted.
These communications protocals are being used by Governments and every telecommunications industry to move, store, validate information.
My final position in the USG was in a cryptographics services branch. Bitcoin is simply a seed code blockchain. It is for all intenets and purposes the same as what NSA issues for secure communications.
In 1977 timeframe Japan launched a geostationary satellite which was used for banking and financial transactions. At that time the Japanese Government knew that a charge of 1/100th of a cent or some miniscule amount was charged for every VISA or credit card transaction. Japan recouped the costs in the first year. Today, the communications protocals used in banking and finance are being adopted from Etherum and Solona.
Crypto is not all just about speulation or junk coins.
Many people have no earthly idea what is behind the communications race and the part the companies like Etherum or Solona play and their down-system technologies - all they know is COINs, CryptoCoins, Bitcoin. Aside from the Asset Bitcoin, these technologies are funded by issuing crypto coins following the idea of the Bitcoin founder, Satoshi Nakamoto (of course today his Genesis wallet just took 26M yesterday, the only transaction in over 10 years).
Many of the coins, in fact most are SCAMS. However, do not make the mistake of thinking all of it is a scam.
The saddest day in the history of Bitcoin was yesterday. The USG has now created the mechanism to keep BTC from becoming the people’s currency internationally. All the ETFs are sucking up all the BTC becoming available on exchanges. At some point these ETFs around the world will be able to achieve two possible outcomes.
1) Governments will recall all BTC like the US did with Gold
2) BTC will end up like the mineral asset class, more specifically Gold or Silver, and it will never trade on par with the dollar/fiat worldwide.
Gold is worth today, on exchanges, about what it was worth anytime in past 23 years; if gold were truly a store of value it keep pace with inflation which it DOES not.
For now everyone is thrilled. The only value BTC will have going forward is what the Government directed pricing will be. Enjoy the wild ride up for the next couple of years as the governments of the world recon with this fiat buster. It may triple in value a couple times of year for the next four or five years while everyone gets a cut of the fee structure, and people’s investments. It is now regulated.
If you have BTC get it off exchanges onto Ledger type devices, and imprint your keys into metal and make backups of the transactions in paper and video file format. Keep it in a high temp fireproof safe.
If you don’t have BTC get yourself 1/10th of BTC even if you have to finance it. If you think that’s too rich then get some Solona which is sold by the “bit” so you could purchase a hundered dollars a month on Coinbase.com automatically.
If you spend $5000 on BTC or SOL or Tesla stock, if you can afford it with your tax return or on a credit card, it will be the best store of increasing value at this time.
The SEC’s 3 part mission…. The 4th, unstated mission, has been the shielding and protecting of the those monied and influential parties who are usually the ones responsible for all the financial catastrophes which befall us. Just like the FED, they protect and defend the Masters of the Universe while soaking the rest of us.
“do not make the mistake of thinking all of it is a scam.”
The problem is that if average folks are unable to differentiate the non-scam from the scam then for all operational purposes....
It is a scam.
It is kind of like Cuban cigars sold in Mexico.
Are legitimate ones sold there? Sure—if you have trustworthy sources and know how to spot fakes and convince the seller you know the difference between the real ones and the fakes—and they actually have real ones on site somewhere.
However, even legitimate licensed Cuban outlets will sell fakes to tourists—sometimes without the approval of store management, sometimes with that approval.
At the end of the day the fakes so outnumber the real ones that it is just better not to buy Cuban cigars in Mexico.
“Any SEC approval that allows Bitcoin to trade on a US listed exchange and cloak itself under the guise of an asset is a farce on it’s face and a stain on the reputations of our government and exchanges. “
Actually, Bitcoin was birthed as an alternative to governmental assets which have been created out of thin air with deleterious effects worldwide. As long as Bitcoin is perceived as having value and is fungible, it will serve as real protection from the utter fecklessness of government controlled currencies.
Why is my money invested in New York, with crooks, politicians, and used for the pervert and woke agenda?
A long time young friend told me he was buying 20 acres and going to the bank for financing. I told him I was interested in financing it if he was. We can cut out the middle man and both win with this.
Is there risk in this? Not much if I have a mortgage. Definitely less risk than wall street in my opinion.
Investing in individuals and the local community used to be the way we did things. Then they told us institutional investing was better.
Tulip bulbs were “outside government control” and were “fungible” and you did not even need a computer or cell phone or even electricity to use them as currency.
I wonder what went wrong....
Lol.
There are no substitutes for Solano or Ethereum. Trust coinbase.com and don’t put it a wallet. Leave it in the account.
The only entertainment advice you need. https://youtube.com/@InvestAnswers?si=QRKB30H135I3NnTg
I wouldn’t touch that stuff with a ten foot pole...
You are a slave to self-imposed ignorance. At least know something. You sound like the typical leftist voter, you know without knowing WHY. If you follow these threats and don’t dismiss the information here you will see it in a different way. You probably don’t realize the real world application and adoptable of the technology behind the coin. It is not all dodgecoin .
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