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No more crypto derivatives from next year. You can buy Bitcoin just not trade it.

Sooooooooo short sighted by the FCA. You know what FCA actually stands for, right?

Let's cancel the future because Mrs Miggins at No 32 got scammed even though the UK and ECB are looking at their own digital currency. 

Fishy much?

Thank God for VPN's. 

 

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Posted (edited)

100% this is the correct thing to do, I applaud the FCA's decision on this one. It's worse than gambling. Stories all over the internet where people are ruined because of it. 

Digital Currency is not the same as Bitcoin, there is a heck of a lot of work to be done and don't expect it to be the "norm" for 20 - 30 years yet. Also, that is backed by a country the same way we have legit currencies, infact little would really change it's just the method of transfer between banks and countries. It makes sense. The old methods like BACS, SWIFT etc are showing their age now. It makes sense they need to do a feasibility study for it. Bitcoin is just rife with scammers, hucksters, fraudsters, look at all these fly by night exchanges that get hacked because they are rushing to market. 

Also, a VPN won't help you here. The accounts will be placed on whatever registered address you have on the account. i.e I assume you are domiciled in the UK. 

 

Edited by TheGuru12
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There won't be a lot else for people to do in the UK but gamble, no jobs left.

Like the latter days of N4zi Germany, maybe the government should offer free cyanide pills so people can top themselves.

Edited by dmedin
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On 07/10/2020 at 11:59, TheGuru12 said:

100% this is the correct thing to do, I applaud the FCA's decision on this one. It's worse than gambling. Stories all over the internet where people are ruined because of it. 

Digital Currency is not the same as Bitcoin, there is a heck of a lot of work to be done and don't expect it to be the "norm" for 20 - 30 years yet. Also, that is backed by a country the same way we have legit currencies, infact little would really change it's just the method of transfer between banks and countries. It makes sense. The old methods like BACS, SWIFT etc are showing their age now. It makes sense they need to do a feasibility study for it. Bitcoin is just rife with scammers, hucksters, fraudsters, look at all these fly by night exchanges that get hacked because they are rushing to market. 

Also, a VPN won't help you here. The accounts will be placed on whatever registered address you have on the account. i.e I assume you are domiciled in the UK. 

 

No, it's short sighted and refusing to accept the future.

The finance industry as whole is as bent as they come. Whether it's bankers coordinating Gold movements via Bloomberg chat, 4pm fix shenanigans, HSBC knowingly laundering billions of drug cartel money or JPM in the dock for yet another multi-billion fine for illicit activity.

So please don't preach about Bitcoin/Crypto being rife with scammers when one looks at regulated banking in general and as for worse than gambling? Gambling itself ruins thousands and thousands of lives the world over. Crypto doesn't even come close. It's still in its fledgling stage so of course there's going to be a bucket shops set up to take advantage of the naive, get-rich-quick herd, just like there was back in the day before *coughs* regulation.

And of course Forex isn't rife with scammers, hucksters, fraudsters and fly by night exchanges is it? And Forex is regulated. 

  

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Yet everyone want's to be rich in Pounds/Dollars. People only care about the price of Bitcoin in $. Everyone want's to get rich, People thought they could be with Bitcoin. Sadly that's not the case. It's a scam pure and simple, Anyway the FCA agree. 

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8 hours ago, TheGuru12 said:

Yet everyone want's to be rich in Pounds/Dollars. People only care about the price of Bitcoin in $. Everyone want's to get rich, People thought they could be with Bitcoin. Sadly that's not the case. It's a scam pure and simple, Anyway the FCA agree. 

Might as well ban spreadbetting then, because most people lose.

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On 12/10/2020 at 09:50, TheGuru12 said:

Yet everyone want's to be rich in Pounds/Dollars. People only care about the price of Bitcoin in $. Everyone want's to get rich, People thought they could be with Bitcoin. Sadly that's not the case. It's a scam pure and simple, Anyway the FCA agree. 

Of course. The Pound is over 1,000 years old. Bitcoin is 11. Anyway, you're comparing apples with oranges. Bitcoin isn't just a means of transferring value. If anything, that's one of it's worst attributes.

The vast majority of ICO's issued on the Ethereum network were a scam. Granted.  

But you say Bitcoin is a scam, right? I kindly suggest you stop talking about subjects you clearly have no idea about. Perhaps educate yourself by researching the infrastructure being built around the Bitcoin network and the extremely successful business people, not from cyrpto, investing heavily in btc.

As for the FCA? As the kids say... Lame.    

 

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The never ending battle about a pseudo attempt to build an independent way of transacting goods.

Let's not forget that every single bitcoin user gives that useless token its value in the so hated fiat currency that their country impose on them. They get so happy when bitcoin raises in, let's pay attention here, dollars or pounds.

Still they will defend bitcoin like they were living in some kind of cyberpunk era where flying cars and micro-transactions would get them closer to feeling like a blade runner. 

It is a scam for the very simple fact that a SHA-256 hash doesn't equal to 11K$, it doesn't even equal to 1$. So normally regulators should keep that, pay attention here, very risky financial product to professionals that can handle risk, so not every single idiot that read cyberpunk and feel that they are part of a new movement loose their saving straight away. So yeah, let's close it, at least for retail traders. 

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What I always ask myself is who gave the FCA the authority to do such things in the first place?

Can we just unvote them?

Surely we don't need an authority telling us, where it's best or worst to lose our money? They also not telling me where it's best to earn my money, so where I lose it should be at my own decision. Don't need anyone else's opinion on that, especially none who I haven't even asked for it. Thank you!

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8 hours ago, DSchenk said:

What I always ask myself is who gave the FCA the authority to do such things in the first place?

Can we just unvote them?

Surely we don't need an authority telling us, where it's best or worst to lose our money? They also not telling me where it's best to earn my money, so where I lose it should be at my own decision. Don't need anyone else's opinion on that, especially none who I haven't even asked for it. Thank you!

 

In the City of London, it's an old boys' network.  They don't have supreme authorities like the People's Republic of Europe does.

Have you heard of the British class system?

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On 13/10/2020 at 17:25, jlz said:

The never ending battle about a pseudo attempt to build an independent way of transacting goods.

Let's not forget that every single bitcoin user gives that useless token its value in the so hated fiat currency that their country impose on them. They get so happy when bitcoin raises in, let's pay attention here, dollars or pounds.

Still they will defend bitcoin like they were living in some kind of cyberpunk era where flying cars and micro-transactions would get them closer to feeling like a blade runner. 

It is a scam for the very simple fact that a SHA-256 hash doesn't equal to 11K$, it doesn't even equal to 1$. So normally regulators should keep that, pay attention here, very risky financial product to professionals that can handle risk, so not every single idiot that read cyberpunk and feel that they are part of a new movement loose their saving straight away. So yeah, let's close it, at least for retail traders. 

 

 

 

Oh look, an angry little retarded Swedish monkey babbling away.   How cute.

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57 minutes ago, dmedin said:

Oh look, an angry little retarded Swedish monkey babbling away.   How cute.

Are you drunk again?

Get some sleep boy.

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