https://finance.yahoo.com/news/singapore-central-bank-cautions-against-investments-cryptocurrencies-104803153.html
MAS does not recognize bitcoins or other cryptocurrencies as monies. Therefore, MAS will not offer protections to cryptocurrency investors when this type of commodity collapses.
Denmark central bank has already warned that investors shouldn't complain to the central bank when they suffer heavy losses in cryptocurrency investments.
Furthermore, the different cryptocurrencies are cannibalizing themselves because investors won't buy all the cryptocurrencies as this will be akin to putting all the monies in a single nest (cryptocurrency) albeit with different crypto names. The more forks and new cryptocurrencies appear, the faster this new market will collapse.
https://www.cnbc.com/2017/12/19/bitcoin-price-drops-as-coinbase-allows-bitcoin-cash-trading.html?__source=yahoo%7Cfinance%7Cheadline%7Cheadline%7Cstory&par=yahoo&doc=104908225&yptr=yahoo
http://sg-stock.blogspot.sg/2017/08/death-knell-for-virtual-currency-is.html
Subscribe to:
Post Comments (Atom)
2 comments:
https://www.investopedia.com/news/bitcoincom-cofounder-dumps-bitcoin-bitcoin-cash/?partner=YahooSA&yptr=yahoo
Merchants are dumping bitcoin payment system because of the high processing fee. Now, the co-founder is dumping bitcoins.
Don't tell me these won't affect bitcoins. When there is no wide usage of bitcoin and bitcoin prices still can climb, it only shows that bitcoin is a rigged commodity.
http://www.mas.gov.sg/News-and-Publications/Media-Releases/2017/MAS-cautions-against-investments-in-cryptocurrencies.aspx
Post a Comment