Jim Rickards: The Empire State Moves Against Bitcoin

[allthingsluxury]

Bitcoin got hammered yesterday after New York Attorney General Eric Schneiderman announced an investigation into some of the major cryptocurrency exchanges.

I’ve been warning about a coming government crackdown on bitcoin for several months, and now we’re seeing it happening around the world.

From China to Japan to South Korea and here in the U.S., the regulators are closing in on bitcoin. And all those who thought their bitcoin was invisible to the IRS are getting a rude awakening these days...


Click here to watch this video and to read more:

https://jimrickards.blogspot.com/2018/05/jim-rickards-empire-state-moves-against.html

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[bobo012]

Bitcoin got hammered yesterday after New York Attorney General Eric Schneiderman announced an investigation into some of the major cryptocurrency exchanges.

I’ve been warning about a coming government crackdown on bitcoin for several months, and now we’re seeing it happening around the world.

From China to Japan to South Korea and here in the U.S., the regulators are closing in on bitcoin. And all those who thought their bitcoin was invisible to the IRS are getting a rude awakening these days...


Click here to watch this video and to read more:

https://jimrickards.blogspot.com/2018/05/jim-rickards-empire-state-moves-against.html

They have been fighting for years, and bitcoin is only getting stronger. Let them fight. All countries that stifle progress in blockchain tech will be in the basement of the revolution, and ones that embrace the revolution will be the leaders of the industry

[LeGaulois]

After the story with Coinbase and the IRS every US citizen should know the same can happen with every exchange. The good news is they can use decentralized exchanges instead to avoid any problem and it's  the best alternative

[FrueGreads]

I don't understand why there is so much "fud" around these things. Bitcoin was not really created to allow you to stop paying your taxes, so I don't see any problem in using BTC and paying your taxes at the same time. Bitcoin is more like an insurance against a global catastrophe, and it allows you to be in command of your own money, without needing to depend on banks. It will eventually offer you a great way to make payments and transfers, so basically is a great innovation in the financial world, but it should not be a tool to avoid paying taxes.

If people just accepted that, I guess there would be less fear from regulators.

[Tankdestroyer]

The good news is they can use decentralized exchanges instead to avoid any problem and it's  the best alternative

But the problem is that there is a lot of risk involved when one decides to use decentralized exchanges(because it is not regulated, even the support team of that exchange can support you only a little to recover your funds when lost).

Bitcoin is more like an insurance against a global catastrophe, and it allows you to be in command of your own money, without needing to depend on banks. It will eventually offer you a great way to make payments and transfers, so basically is a great innovation in the financial world, but it should not be a tool to avoid paying taxes.

If people just accepted that, I guess there would be less fear from regulators.

They don't fear taxes, what they fear is the regulators itself. Since it can be used to control your own money, it would be bad if governments around the world decided to ban bitcoin(because it disrupts the current fiat currency and banking system).

[Hydrogen]

Bitcoin got hammered yesterday after New York Attorney General Eric Schneiderman announced an investigation into some of the major cryptocurrency exchanges.

News of Schneiderman "investigating" crypto currency exchanges date back to april 2018: https://www.theverge.com/2018/4/17/17247946/bitcoin-new-york-attorney-general-eric-schneiderman-investigation

This can't be the cause of the latest btc downtrend as it is a month old.

The Eric Schneiderman mentioned has since resigned from his attorney general position due to him being currently being investigated for allegedly assaulting four women:

Four Women Accuse New York’s Attorney General of Physical Abuse

https://www.newyorker.com/news/news-desk/four-women-accuse-new-yorks-attorney-general-of-physical-abuse

Being the "new york attorney general" probably doesn't give his office authority to investigate on a global scale. At most his investigation might encompass the state of new york, afaik. This may not have been big news even if it were current or even if the person initiating the movement hadn't resigned.

[Surge_Dev]

Thanks for the link and the video. I have watched it and can say that it is really worth watching if you are interested in the future of Bitcoin. As for me, I believe that this is the most powerful coin now

[TTITA]

After the story with Coinbase and the IRS every US citizen should know the same can happen with every exchange. The good news is they can use decentralized exchanges instead to avoid any problem and it's  the best alternative

So far yes, decentralized exchanges still best alternative that independent from those intervention.

The good news is they can use decentralized exchanges instead to avoid any problem and it's  the best alternative

But the problem is that there is a lot of risk involved when one decides to use decentralized exchanges(because it is not regulated, even the support team of that exchange can support you only a little to recover your funds when lost).

Probably yes, but at least with this Bitcoin we want to get rid of the binding financial regulation so far.

[ladydark]

Bitcoin got hammered yesterday after New York Attorney General Eric Schneiderman announced an investigation into some of the major cryptocurrency exchanges.

I’ve been warning about a coming government crackdown on bitcoin for several months, and now we’re seeing it happening around the world.

From China to Japan to South Korea and here in the U.S., the regulators are closing in on bitcoin. And all those who thought their bitcoin was invisible to the IRS are getting a rude awakening these days...


Click here to watch this video and to read more:

https://jimrickards.blogspot.com/2018/05/jim-rickards-empire-state-moves-against.html

Well its time for most of the people to shift towards decentralised exchanges.