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.
NetCents Technology Inc. is exhibiting consistent growth metrics pertaining to both processing volumes and active users with new merchant additions.
The company continues to maintain a substantial pipeline of merchants preparing for integration onto the NetCents platform. NetCents looks to provide updates on these new potential merchant partners after adequate due diligence and official onboarding protocols are completed.
NetCents is pleased to report that the company's recently added new merchant portfolio continues to increase processing volumes conservatively forecasted to achieve over $4.25-million in annual processing.
"We continue to see promising growth with our transaction volumes and onboarding of new merchants and users. The current processing volumes put us in line with our projections; however, we look to exceed our forecasted volumes and revenues with the addition of the new merchants we have in our pipeline. We have a proven platform, and our team is diligently working to add new clients, find ways to reduce costs, increase our margin, and add additional procedures and protocols to continue to provide payment solutions that are simple to use, secure and worry-free," commented Clayton Moore, NetCents' founder and chief executive officer. "We anticipate announcements in regard to some of these new opportunities and initiatives in the coming weeks as well."
If your company or organization wishes to integrate the NetCents platform into your website, visit the NetCents website and click on the "sign up for business account" tab to complete the on-line form to get the digital integration and application processes started. A NetCents payment icon will be placed on your website at no cost.
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.
We highly recommend all interested parties sign up to the NetCents Currency page: net-cents.com/currency/ for the latest information regarding the currency and its launch.
Additional details pertaining to the overall purchasing process will be made directly to NetCents users and addressed in future news releases as well.
"Our users have told us that they want the freedom to Pay Their Way. They wanted a dependable and trustworthy online platform that had the ability to transact or store various currencies in one place without switching platforms. And they wanted services cheaper and done with currencies that offered less risk or volatility. We have solved this, with the introduction of our own currency. We have the users, we have the merchants, now we have the currency to complete the full spectrum," stated Clayton Moore CEO & Founder, NetCents Technology Inc. "The future is now. The use of digital currency and transacting online is here to stay. We just made it better, easier, cheaper and more accessible."
More information regarding NetCents' currency and its mechanics will be made available for viewing when our whitepaper is released. Please bookmark the NetCents Currency page: net-cents.com/currency/) to follow all developments for the NetCents Currency.
Mr. Moore continued "Bitcoin and Ethereum were excellent experiments that proved that there was a need, but in our opinion, the medium failed. With our high usability and accessibility, we believe NetCents is positioned to become the leading currency of choice for merchants. This is the natural evolution for the company, its merchants and its users. Utilizing the NetCents currency will enhance the end-to-end proprietary ecosystem that NetCents has developed. We have been in planning and development of the NetCents Currency for approximately a year and are now thrilled to finally be able to announce it. This is a pivotal moment for the company, its shareholders and digital currency as a whole, as we will immediately be implementing our currency into our infrastructure and our merchant partners."
NetCents is in the unique and immediate position to establish itself at the forefront of online transactions by utilizing its own proprietary currency within its own established and fully functional ecosystem. Through the assimilation of the NetCents Currency into the NetCents platform, Merchant-Partners will realize reduced transaction costs, decreased processing bottlenecks and healthier bottom lines. NetCents' users base will be afforded with an unparalleled and secure payment vehicle to transact online. NetCents will employ a rigorous supply management system that will operate within the parameters of free market dynamics so that price volatility is reduced and user confidence and liquidity is enhanced.
According to Gord Jessop, President NetCents Technology Inc. "We are all well aware of the numerous high profile Initial Coin Offerings or ICOs, that have raised about 1.5 Billion dollars, this year alone. We would like to be clear that NETCENTS is not conducting an Initial Coin Offering, ICO. NETCENTS is introducing a currency through a proprietary cryptocurrency exchange. We believe the ICO market has many potential pitfalls and is littered with uncertainty. To mitigate this and to further legitimize NetCents Currency, we have refined the introduction, purchasing and circulation. With the notable governance, we have built into our currency, which will be highlighted in our whitepaper, we see significant value in people utilizing NetCents Currency as our ecosystem continues to expand with new merchants and users."
NetCents will kickstart its currency Pre-launch on September 19 th to NetCents registered users. This will be followed by a controlled domestic launch from October 2nd to 30 th with the worldwide launch scheduled for October 31 st through a proprietary cryptocurrency exchange.
The company will be making additional announcements in the coming weeks about the release of its white paper, the launch of the currency, and how consumers and merchants can access the platform and transact within the NetCents Ecosystem.
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)