Opinion: Bitcoin, Ether and other cryptocurrencies may be seeing the beginning of the end By Brett Arends Published: Sept 6, 2017 6:13 p.m. ET
Risks are rising after warnings from U.S., Chinese regulators AFP/Getty Images So you?ve made a ton of money from bitcoin, Ether and other cryptocurrencies. Sure, they?ve defied the doomsayers time and again. Which likely makes this week?s shocking plunge in bitcoin and Ether just another buying opportunity. That?s where you may be wrong.
The sudden Chinese crackdown on bitcoin BTCUSD, -1.28% that caused the plunge is either the end of the beginning for the crypto-party ? or, more likely, the beginning of the end. If you?re holding cryptocurrencies today, remember that no matter how much money you think you?ve made, you haven?t made a nickel until you?ve cashed it out.
And you might want to think twice, or even thrice, about the rising risks.
China took steps on Monday to stop ?initial coin offerings? or ICOs. These are the crypto-bubble equivalent of the infamous IPOs during the late 1990s dot-com mania.
Additionally, Hong Kong?s regulator warned that cryptocurrencies may be securities for legal purposes and that these ICOs may be subject to securities laws ? echoing similar rumblings from the U.S. Securities & Exchange Commission.
Read: Confused about bitcoin? 10 things you need to know
This isn?t just a passing cloud. This is potentially a big deal. Blockchain technology may be as amazing as its proponents claim. But translating that into a financial mania for cryptocurrencies depends on some huge, and flawed assumptions. First among them: the idea that governments are just going to sit idly by and let cryptocurrencies flourish.
Sure, cryptocurrencies could be used by all sorts of lovely people for all sorts of lovely things. But shadow, unregulated currencies can also be used by say, tax evaders, drug dealers, money launderers and other criminals.
Meinung: Bitcoin, Ether und andere Kryptokurrenzen können den Anfang des Endes sehen
Von Brett Arends
Veröffentlicht: Sept 6, 2017 6:13 p.m. ET
Die Risiken steigen nach Warnungen von US-amerikanischen Regulierungsbehörden
?AFP / Getty Bilder
So hast du eine Menge Geld von Bitcoin, Ether und anderen Kryptokurrenzen gemacht. Sicher, sie haben den Doomsayers immer wieder widersprochen. Was wahrscheinlich macht diese Woche schockierenden Sprung in Bitcoin und Ether nur eine andere Kaufgelegenheit. Da ist vielleicht das falsch
Die plötzliche chinesische Niederschlagung auf bitcoinBTCUSD, -1.28%, die den Sprung verursacht hat, ist entweder das Ende des Anfangs für die Krypto-Party - oder eher der Anfang des Endes. Wenn Sie heute Kryptokurren halten, denken Sie daran, dass egal wie viel Geld Sie denken, dass Sie gemacht haben, Sie haben kein Nickel gemacht, bis Sie es eingelöst haben.
Und vielleicht möchten Sie zweimal oder gar dreimal über die steigenden Risiken nachdenken.
China hat am Montag Schritte unternommen, um "erste Münzenangebote" oder ICOs zu stoppen. Dies sind die Krypto-Blase Äquivalent der berüchtigten IPOs während der späten 1990er Jahre dot-com Manie.
Darüber hinaus warnte die Regulierungsbehörde von Hongkong, dass Kryptokurrenzen Wertpapiere für juristische Zwecke sein können und dass diese ICOs den Wertpapiergesetzen unterliegen können - die von den US-amerikanischen Börsenkommissionen übertreffen.
Lesen: Verwirrt über Bitcoin? 10 Dinge, die du wissen musst
Das ist nicht nur eine vorbeifahrende Wolke. Das ist eine große Sache. Blockchain-Technologie kann so erstaunlich sein wie ihre Befürworter behaupten. Aber das in eine finanzielle Manie für Kryptokurrenzen zu übersetzen, hängt von einigen riesigen und fehlerhaften Annahmen ab. Zuerst unter ihnen: die Idee, dass Regierungen nur untätig sitzen und Kryptokurrenzen gedeihen werden.
Sicher, Kryptokurrenzen könnten von allen Arten von schönen Menschen für alle möglichen schönen Dinge verwendet werden. Aber Schatten, unregulierte Währungen können auch verwendet werden, sagen, Steuervermittler, Drogendealer, Geldwäscher und andere Kriminelle.
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About NetCents Technology Inc.
NetCents is a next-generation on-line payment processing platform, offering consumers and merchants on-line services for managing electronic payments.
CIRCLE THE DATE: NETCENTS TO INTRODUCE OWN CURRENCY
NetCents Technology Inc. will introduce its own digital currency, NetCents, which utilizes the latest innovations in blockchain technology.
-CIRCLE THE DATE-
September 19, 2017 , NetCents Currency will initially be available to NetCents registered users through a proprietary cryptocurrency exchange.
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NetCents is a next generation online payment processing platform, offering consumers and merchants online services for managing electronic payments. The Company is focused on capturing the migration from cash to digital currency by utilizing innovative Blockchain Technology to provide payment solutions that are simple to use, secure and worry free. NetCents works with its financial partners, mobile operators, exchanges, etc., to streamline the user experience of transacting online. NetCents Technology is integrated into the Automated Clearing House ("ACH") and is registered as a Money Services Business (MSB) with FINTRAC, which ensures our consumer's security and privacy. NetCents is available for deposits from 194 Countries around the World, providing you with the freedom to choose to Pay. Your Way.(TM)