France declares war on the cryptocurrencies

[layoutph]

Bitcoin doesnt need France to pump. Despite of Bitcoin's current bloody position. I believe it will recover. Just look at the volume. Whales are just accumulating from the dip. They are slowly buying every single dip.

I read on news that

"The French finance minister has called for tough new regulations on cryptocurrencies to stop them being used to dodge tax or finance terrorism and other crimes"
Source ( http://metro.co.uk/2018/01/15/france-declares-war-cryptocurrencies-bitcoin-ethereum-litecoin-ripple-tough-new-stance-lead-ban-7231339/?ito=cbshare)

Is this having any impact on the downtrend nature of the whole Crypto Currency market today?
Are some investors having second thought about crypto and selling them?

Would like to get some idea about this.

[Tonygold1967]

that news just advertises the beautiful tax-evasion possibilities cryptos provide, good for market

[Harlot]

Well it has just put gas to a burning fire. What is happening right now is bad news over bad nes is coming that is why it is helping Bitcoin to go down more at this dip because a lot of investors are fearing of what is happening and they are wise to do so. Additionaly the chart of Bitcoin has failed to re-test its resistance having a declining double tops showed that a decline like this would happen. So people who have sold their Biycoin are lucky as they can buy it at a cheaper price.

[Kemarit]

I read on news that

"The French finance minister has called for tough new regulations on cryptocurrencies to stop them being used to dodge tax or finance terrorism and other crimes"
Source ( http://metro.co.uk/2018/01/15/france-declares-war-cryptocurrencies-bitcoin-ethereum-litecoin-ripple-tough-new-stance-lead-ban-7231339/?ito=cbshare)

Is this having any impact on the downtrend nature of the whole Crypto Currency market today?
Are some investors having second thought about crypto and selling them?

Would like to get some idea about this.

It doesn't surprised me at all. EU has been very vocal against cryptocurrency since the beginning. I'm sure that there would be more EU countries coming out of and declaring war on crypto's. As far as the effect, it could impact the price at a minimum. There are really a lot of FUD around China and South Korea that really affects the market price significantly.

Yes, i just read some news that france declare war on cryptocurrencies. Because they say that they are using bitcoins in trading some illegal transactions. And also china banning bitcoin mining. Thats give big effect in all markets in crypto world.

Fiat as well can be traded and use in illegal activities, so that argument is flawed. But I could understand if they say that crypto can't be controlled by their government, because that's how most of the coins are designed, anonymous and pseudo-anonymous. They should look at Venezuela and Zimbabwe's economic situations, those people in their survived with the used of bitcoin and other crypto currencies in general. It also brings positive impact to the government and its citizens as well.

[Shenzou]

I read on news that

"The French finance minister has called for tough new regulations on cryptocurrencies to stop them being used to dodge tax or finance terrorism and other crimes"
Source ( http://metro.co.uk/2018/01/15/france-declares-war-cryptocurrencies-bitcoin-ethereum-litecoin-ripple-tough-new-stance-lead-ban-7231339/?ito=cbshare)

Is this having any impact on the downtrend nature of the whole Crypto Currency market today?
Are some investors having second thought about crypto and selling them?

Would like to get some idea about this.

It says regulation ot actually banning it, a lot of goverments have woken up and relized the fact that there are a lot of people who are involved in the cryptocurrency industry that are earning millions of dollars without paying taxes, honostly i am suprised that they didn't do this a long time ago when the cryptocurrency was just used by a few people, i think this was the strategy all along for goverments to let the crypto industry to evolve and grow and let the prices go up so that people  think that they can get rich from it and than drop the bompb by regulating it and making them pay taxes for it, and we can see that not only the french govermment has came to the decesion of regulating it, many govements have taken severe decisons conserning it, and we can see that that affected the prices real hard.

[supermine]

I read on news that

"The French finance minister has called for tough new regulations on cryptocurrencies to stop them being used to dodge tax or finance terrorism and other crimes"
Source ( http://metro.co.uk/2018/01/15/france-declares-war-cryptocurrencies-bitcoin-ethereum-litecoin-ripple-tough-new-stance-lead-ban-7231339/?ito=cbshare)

Is this having any impact on the downtrend nature of the whole Crypto Currency market today?
Are some investors having second thought about crypto and selling them?

Would like to get some idea about this.

It says regulation ot actually banning it, a lot of goverments have woken up and relized the fact that there are a lot of people who are involved in the cryptocurrency industry that are earning millions of dollars without paying taxes, honostly i am suprised that they didn't do this a long time ago when the cryptocurrency was just used by a few people, i think this was the strategy all along for goverments to let the crypto industry to evolve and grow and let the prices go up so that people  think that they can get rich from it and than drop the bompb by regulating it and making them pay taxes for it, and we can see that not only the french govermment has came to the decesion of regulating it, many govements have taken severe decisons conserning it, and we can see that that affected the prices real hard.

As you said immediate action of many governments are against the crypto currency investors so it causes huge price fall in crypto currency market.Bitcoin price is falling under $10K and still falling same cases going on with every crypto currency.The total coinmarket value of crypto currency turned $650B into less than $400B maybe it will fall more.
I hope this is weird situation will change soon hopefully or it may affect many investors hardly.

I don't want to sell any of my crypto currency until the condition will get normal or I will lose more money from my life savings.

[Lukas Tarantas]

"The French finance minister has called for tough new regulations on cryptocurrencies to stop them being used to dodge tax or finance terrorism and other crimes"

It seems that the world banking system has declared war on the crypto-currencies, and begins to hang on them all the sins - from tax evasion, to the financing of terrorism.

[Xester]

I read on news that

"The French finance minister has called for tough new regulations on cryptocurrencies to stop them being used to dodge tax or finance terrorism and other crimes"
Source ( http://metro.co.uk/2018/01/15/france-declares-war-cryptocurrencies-bitcoin-ethereum-litecoin-ripple-tough-new-stance-lead-ban-7231339/?ito=cbshare)

Is this having any impact on the downtrend nature of the whole Crypto Currency market today?
Are some investors having second thought about crypto and selling them?

Would like to get some idea about this.

They just pointed out some disadvantage of using bitcoin.  Actually even using their currency their paper money, forms of crimes like this can still happen.  They are just threatened with bitcoin as it is gain much attention.  People are more into investing than saving their money.

[Tyrantt]

Honestly, I'm not surprised if we see more and more countries trying to regulate crypto, since let's be real, tax evasion is a crime and crypto allows that to be done fairly easily. Financing of terrorism is a dumb excuse, everything can be used for that from weapons to oil...

There are some dumb arguments but the tax evasion one is fair. France has some questionable decisions lately overall.

[Carlsen]

I think there is a big difference between regulations and war.
I have always been a friend of some regulative measures because they make it more difficult for scammers to use bitcoin for their purposes.
And I think as well that regulations make crypto currencies more accepted in the public opinion.

Regulative measures can make the trust in crypto currencies stronger, and maybe even decline the big swings of the price.

[Mister k]

They just want to have a global regulation and have asked that the G20 experts take a look at it.
But I'm quite sure that once they will have understood how much money they can make from crypto by taxing us, they'll find it interesting and worth allowing it.

[audrey12]

Bitcoin become so popular because of the sudden pump in its value last 2017 so it is really not surprising why many countries wants to regulate bitcoin of course governments would like to have the tax for such earnings people can get out of bitcoin especially that the value keeps growing and appreciating. I think because of what other countries are doing today puts impact on bitcoin value that's why it keeps on dropping.

[Odora]

I read on news that

"The French finance minister has called for tough new regulations on cryptocurrencies to stop them being used to dodge tax or finance terrorism and other crimes"
Source ( http://metro.co.uk/2018/01/15/france-declares-war-cryptocurrencies-bitcoin-ethereum-litecoin-ripple-tough-new-stance-lead-ban-7231339/?ito=cbshare)

Is this having any impact on the downtrend nature of the whole Crypto Currency market today?
Are some investors having second thought about crypto and selling them?

Would like to get some idea about this.

we do not need recognition from them without Bitcoin's acknowledgment still goes, as usual, their problem says Bitcoin is abused for terrorist financing before Bitcoin is created even terrorists have earned their funds with cash..

[Triyavam]

In my opinion, the negative issue of bitcoin may affect the reduction of bitcoin prices, including French news that declares war on cryptocurrency Bitcoin and altcoin.
The more issues like this, bitcoin prices will continue to decline, let alone the issue or news is really realized,
But we should not panic for now,
bitcoin prices will surely rise slowly in the future.

[poor-yorik]

I think there is a big difference between regulations and war.
I have always been a friend of some regulative measures because they make it more difficult for scammers to use bitcoin for their purposes.
And I think as well that regulations make crypto currencies more accepted in the public opinion.

Regulative measures can make the trust in crypto currencies stronger, and maybe even decline the big swings of the price.

Massively agree. People tend to exaggerate everything heavily. The world looks like black and white to them, they don't see either colors or shades, all 50 of them. Mass media with their yellow journalism and sensationalism are also a contributing factor. And this can be very annoying or even frustrating when people are so myopic and don't look beyond attention-grabbing headlines.

[Assface16678]

I think this would not affect the international community as it is only on france with approximately 2% to 8% of the current circulation. High profiled investors won't give a damn on this and will invests more because of deflation. Feels sorry for the french traders and investors for having this event on their country but don't lose hope as government will just add regulations on it and everything will be fair and alright.

[AmazingDynamo]

I think this would not affect the international community as it is only on france with approximately 2% to 8% of the current circulation. High profiled investors won't give a damn on this and will invests more because of deflation. Feels sorry for the french traders and investors for having this event on their country but don't lose hope as government will just add regulations on it and everything will be fair and alright.

i think it will affect a lot on todays market , when france declares war on cryptocurrency the market of every coin turns into red , im not european but i am hoping that someday they accept bitcoin as part of their economy and sees the good thing in this form of currencies .

[Betwrong]

I think this would not affect the international community as it is only on france with approximately 2% to 8% of the current circulation. High profiled investors won't give a damn on this and will invests more because of deflation. Feels sorry for the french traders and investors for having this event on their country but don't lose hope as government will just add regulations on it and everything will be fair and alright.

i think it will affect a lot on todays market , when france declares war on cryptocurrency the market of every coin turns into red , im not european but i am hoping that someday they accept bitcoin as part of their economy and sees the good thing in this form of currencies .

No war was declared by France. Read the thread. It's journalists and their obsession with catchy titles. In fact, the French finance minister, Bruno Le Maire, called for new regulations on crypto currencies to stop them being used for tax avoiding, finance terrorism and other crimes. That's it. In the future French people will be using Bitcoin as they were using it before and no one is going to forbid them to do so.

[darewaller]

that news just advertises the beautiful tax-evasion possibilities cryptos provide, good for market

Uhm… it’s good, but I’ve always been afraid of things like this happening. I have always felt like the government would declare war on cryptocurrencies if they realized that there is no way for them to charge tax on the users of cryptocurrencies, unless they will be charging tax for those that withdraws.

[sister1001]

that news just advertises the beautiful tax-evasion possibilities cryptos provide, good for market

Uhm… it’s good, but I’ve always been afraid of things like this happening. I have always felt like the government would declare war on cryptocurrencies if they realized that there is no way for them to charge tax on the users of cryptocurrencies, unless they will be charging tax for those that withdraws.

I don´t consider it a true war on cryptos, is more like a war on tax evasion, which anyway does not really affect the rich dudes that can pay for a full fledged legal net for protection.