US Launches Major Crypto Probe, wants more transparency

The US regulators have launched a major cryptocurrency probe and have asked several of their exchanges to be more transparent as to protect customers and help them understand what Bitcoin and Cryptocurrency investing is all about.
I think this may just be cover up to try to get tax information so they can get taxes from all cryptocurrency traders.
Most people who are vested in Cryptos by now understand what Bitcoin and Cryptos are. We understand the risks we take by investing into them and how much we could gain or lose. We know how exchanges work and have an idea of the difference between PoW coins and PoS coins. We are in this because of the volatility and the chance for large profits and we understand the possibility of massive losses should we guess wrong on which coin is going to go up or down. Let me explain to regulators how it works in simple terms.
We trade fiat money for coins at this place called an exchange and we hope to trade these coins back for more money once they go up several hundred percent. Its the same concept as the stock market except more volatile, which is why we chose to invest in cryptos in the first place. In the stock market, people are happy if they can make 1% or half a percent per day. No one in the Crypto market cares about those kind of gains, we want to double, triple, or quadruple our money in a short amount of time. That is the only thing that makes it worth all the risk of investing in crypto. Aside from obvious ponzi schemes, the regulators are really trying to protect us from things we have no desire to be protected from and that is why in the end the banks who are pushing for ever tighter regulations on crypto are going to end up losing.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s