https://www.vox.com/recode/2022/8/3/23290388/crypto-illegal-… “The SEC is in the midst of a continuing onslaught against crypto firms from every direction,” John Reed Stark, a cybersecurity expert and former SEC enforcement attorney, told Recode. Stark noted that the agency has expanded its crypto unit and SEC chair Gary Gensler has made no secret of his belief that many cryptocurrencies are securities, and that he intends to regulate them as such.
So even though it’s hot outside, we’re in the middle of a crypto winter that may never end. During the pandemic, the cryptocurrency market ballooned to $3 trillion, helped along by new platforms that made investing easy enough for just about anyone to do. Since last November, however, the market has plummeted. It’s now worth about a third of what it was at its peak, and there’s no sign that value will bounce back significantly anytime soon. The crash has devastated some of the companies operating in this space — and their customers, too.
Since last November, however, the market has plummeted. It’s now worth about a third of what it was at its peak, and there’s no sign that value will bounce back significantly anytime soon. The crash has devastated some of the companies operating in this space — and their customers, too.
What … no bottom fishing? }};-@
My Suncor doubled while Pembina Pipeline tripled from the Ides of March 2020 Friday afternoon low when it fell off a cliff.
The main use case for crypocurrency is illegal activity, so the whole space is shot with criminals. They’ve been picking off the retail investors like sitting ducks. I think enough people have lost enough money or had it stolen from them that they won’t be investing in crypto again any time soon.
Now, there is a cohort of crypto/blockchain proponents who really, truly believe it is the future despite all evidence to the contrary. They will never sell or give up hope. Some of these are the Marc Andreasen types who will burn through all their capital all the way to the bitter end.
I don’t now where crypto goes from here, but it is hard to see it returning to its highs. I believe there is a definite floor though.
That analysis was the main case. Turns out you have to fully identify yourself for an electronic wallet. The FBI can track anyone doing business on the ledger.
The idea is still fully formed in some criminal minds. It is very dangerous for them to pursue it.
Now, there is a cohort of crypto/blockchain proponents who really, truly believe it is the future despite all evidence to the contrary. They will never sell or give up hope. Some of these are the Marc Andreasen types who will burn through all their capital all the way to the bitter end.
Yep. Michael Saylor had to basically give up the CEO position at his company, after losing a billion betting on Bitcoin…so that he can concentrate more on their strategy of buying Bitcoin:
MicroStrategy Inc. co-founder Michael Saylor gave up his chief executive officer title and said he’ll focus more on Bitcoin after the enterprise-software maker reported a loss of more than $1 billion related to the second-quarter plunge in the price of the cryptocurrency.
Yep. Michael Saylor had to basically give up the CEO position at his company, after losing a billion betting on Bitcoin…so that he can concentrate more on their strategy of buying Bitcoin:
And the market responded favorably to kicking Saylor upstairs. MicroStrategy stock popped up 12% today.