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Author Topic: 2013-07-04 contrariancompliance.com: Winklevii Warn Bitcoin May Become Illegal  (Read 1996 times)
freedomno1
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Learning the troll avoidance button :)


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July 06, 2013, 02:07:01 AM
 #21

Total non-story.  Read any company's SEC filing and you will find a laundry list of potential risks (both real and far fetched).  This is nothing more than the twins and their lawyers doing some CYA disclosures.

Absolutely correct. The OP is FUD as the SEC filing has to include warnings for investors. Cryptocurrency is new so there are many unknowns. Similar warnings must have accompanied the PartyPoker float, with respect to online gambling. Indeed any completely new business has the risk of a heavy-boot regulatory response.

Is it really that common to see a prospectus warning that the asset investors will be betting on may become illegal?  I'd be happy to see other examples.  That was my only point.

I agree. While there is nothing new (to us, at least) about the challenges that Bitcoin faces and the laundry list of risks is typical, a security traded on a major exchange that lists illegality as a risk is noteworthy.

Makes for great popcorn drama and just another day in the stock market Smiley

Believing in Bitcoins and it's ability to change the world
polarhei
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July 06, 2013, 10:07:21 AM
 #22

Bitcoin is still legal due to the registered exchange act. I think the report is too nervous. If you like to know the detail, You, better read FinCEN's note.
juanbllanos (OP)
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July 12, 2013, 06:02:44 PM
 #23

Total non-story.  Read any company's SEC filing and you will find a laundry list of potential risks (both real and far fetched).  This is nothing more than the twins and their lawyers doing some CYA disclosures.

Absolutely correct. The OP is FUD as the SEC filing has to include warnings for investors. Cryptocurrency is new so there are many unknowns. Similar warnings must have accompanied the PartyPoker float, with respect to online gambling. Indeed any completely new business has the risk of a heavy-boot regulatory response.

Is it really that common to see a prospectus warning that the asset investors will be betting on may become illegal?  I'd be happy to see other examples.  That was my only point.

I agree. While there is nothing new (to us, at least) about the challenges that Bitcoin faces and the laundry list of risks is typical, a security traded on a major exchange that lists illegality as a risk is noteworthy.

Thanks, Odolvlovo.
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