Adios digital currencies

[BeerParticipant 11832]

https://finance.yahoo.com/news/sec-declares-digital-assets-securities-205240454.html

The regulations are beginning…looks like the government finally started to care…remember, as with all government regulations, this will just be the first step, who knows how far it will go.

89 digital coins currently for sale and 110 more coming into existence next year, what could possibly go wrong?

[Anonymous 42]

Beer wrote:

what could possibly go wrong?

Digital coin run on the market, value overcompensation on the rush and futures investors then a gigantic “POP” as another inflated bubble bursts and all the investors get a hand full of misery.

I’m looking to negotiate another 100 troy ounce bar of 999 mint silver, under the table, no records!

I’ll crawl around in the dark while everyone above ground gets totally BURNT!

The trust is dust…

[CarnageParticipant 22113]

Men I got some 999 gold bars, but wold love to get some silver also.

I got no silver. Few coins wold be nice.

To those following me, be careful, I just farted. Men those beans are killers.

[TaxGuyParticipant]

Beer, if I understand this correctly, they are only talking about ICO’s, or initial coin offerings. What is happening is that many of companies are now no longer selling stock in their company through an initial public offering (IPO) where you can purchase stock on the first day of public trading. Instead, you can buy coins that are created by the company. As the company makes more money or otherwise goes up in value, then the value of the coins goes up, instead of the value of the stock. So, those coins just replace the stock in the company. Since stocks are covered by the SEC, they are just saying that the ICO coins would be treated the same.

Now, that said, you are 100% that this is the first shot across the bow. However, Japan has been one of the first countries to recognize digital coins as a legal tender. That seems like good news for digital coins. However, there may be other consequences to that recognition that I’m not aware of.

So, does this cause some fear in digital currency that may make it a great time to get in, or does it signal the beginning of the end? Damned if I know.

Order the good wine

[GregB0Participant]

TaxGuy wrote:

Damned if I know.

But I now have a better ideas as to what is going on, thanks TaxGuy.

Beer and TaxGuy, please keep us up to date on any additional changes or viewpoints.

​"​My father didn't tell me how to live; he lived, and let me watch him do it.​" - Clarence Buddinton Kelland

[TaxGuyParticipant]

GregB0 wrote:

TaxGuy wrote:

Damned if I know.

But I now have a better ideas as to what is going on, thanks TaxGuy.

Beer and TaxGuy, please keep us up to date on any additional changes or viewpoints.

Greg: Look up a newsletter called Palm Beach Daily. They are pretty into cryptocurrencies and did an article a couple weeks ago about ICO’s. I’ve been trying to figure out if I want to put a little speculative money in the crypto market and they have a guy that has been following the blockchain / crypto area for a couple of years.

Order the good wine

[GregB0Participant]

TaxGuy wrote:

Look up a newsletter called Palm Beach Daily.

Thanks and I’ll check it later this afternoon. I had the same thoughts about diversifying away from the normal investment opportunities.

​"​My father didn't tell me how to live; he lived, and let me watch him do it.​" - Clarence Buddinton Kelland

[Anonymous 42]

TaxGuy wrote:

As the company makes more money or otherwise goes up in value, then the value of the coins goes up, instead of the value of the stock. So, those coins just replace the stock in the company. Since stocks are covered by the SEC, they are just saying that the ICO coins would be treated the same.

Are you saying they’ll split just like stocks when your original coin becomes worth two?

[Anonymous 6]

The bubble might be about to pop of these digital currencies. The best time to get in was 3 or 4 years ago. You would be banking money right now if you invested years ago. Then you could sell high, take your money and go before the impending bubble burst. But you have to do it right because you don’t want to be accused of insider trading.

[ChangedParticipant 588]

What you sell or buy can be traced and taxed with any currency. What you give to other MGTOW for free can not be taxed. The future is not to swap a cent for a cent but just help those MGTOW and you will get something back. This website is a good start because the traps we learn to avoid here save us a lot of money.

Adios all currencies!

Matriarchy taxes us. Patriarchy taxes us. No Fucks Given! If they give us pains, lets give them pains. Daily.

[TaxGuyParticipant]

Anonymous wrote:

TaxGuy wrote:

As the company makes more money or otherwise goes up in value, then the value of the coins goes up, instead of the value of the stock. So, those coins just replace the stock in the company. Since stocks are covered by the SEC, they are just saying that the ICO coins would be treated the same.

Are you saying they’ll split just like stocks when your original coin becomes worth two?

No, the value of the coins will go up. Look at it this way: They can give coins to content providers. So if I write for them they pay me a coin for every article. Let’s say they charged $500 for every coin in the initial offering. Now, I can cash out my coin, or I can let it ride. So, after a year or two they are pulling in a bunch of advertising revenue and the value of each coin has gone up to $2,000. I can cash out then and get paid even more. There would also be the ability to create new coins, just like you can do a second stock offering.

Look at it this way: An original stock value at offering is an arbitrary number. I company may be valued at $1 billion on it’s IPO. If they issue 1 billion shares, they are worth $1 each. If they issue 10, they are worth $100 million each. It all has to add up to $1b. Same in an ICO, but with coins. You are just replacing a share of stock with a coin.

That’s what the SEC doesn’t like. The coin will act exactly like a share of stock.

One final note: we aren’t talking about Bitcoin here. We are talking about TaxGuyCoin when I sell coins in TaxGuyInc. But you can convert them to Bitcoin.

Order the good wine

[BeerParticipant 11832]

TaxGuy wrote:

That’s what the SEC doesn’t like. The coin will act exactly like a share of stock.

What scares me about Bitcoin is its already bought and sold just like a share…only its a share that isn’t based on anything. A share of a company stock or an ETF is at least based on the value of an underlying business or commodity…digital currencies…based entirely on hype and speculation.

TaxGuy wrote:

One final note: we aren’t talking about Bitcoin here. We are talking about TaxGuyCoin when I sell coins in TaxGuyInc. But you can convert them to Bitcoin.

The bigger theme though is this is the tip of the iceberg for regulating digital “currencies.” They are going to start regulating digital currencies backed by the value of a business. Do you think they would step in and regulate if some investors filled up a warehouse with gold and tried to start a digital currency backed by that? Hell yeah they would.

So if they’d step in and regulate digital currencies based on an underlying business or commodity…why would any sane person think they will not eventually drop the hammer on fiat digital currencies? They don’t want competition for the fiat dollar…and when the hammer eventually drops its going to be a race to the exit to dump all your digital currencies and a lot of people are going to be left holding the bag.

[MrMeParticipant 651]

One of my friend invested heavily in ethereum cryptocurrency.
He asks me to invest in it as well but I decided to see what happens instead.

Hope for him that the new regulations don’t lower the value too much, he invested almost all of his savings …

[LEO THE WISEParticipant 249]

Crypto currencies are too volatile,

it’s just to burn some money for fun. If some money is earned then it goes into the physical assets.

The rest of your savings should be backed in tangible assets: gold, silver, stockpiled food, water, a house …

Things that are a bit more valuable that you can somehow use.

Leo the wise : Giving to all men their needed uprise My MGTOW YOUTUBE channel, first vid : https://youtu.be/Xt-tJgVUGuI

[Author]

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