PAC Coin MoonSHOT and Millionaires Made!!! January 5th, 2018

Why we shouldn't be asking for regulation and why we need the RIGHT to make bad investments.

I have deleted some of my old accounts but I have been frequenting bitcoin since 2014 and I am rather disappointed with the change over the last year and calls for regulation of crypto. So I thought I should make a reasoned argument as to why regulation is a terrible idea.

1. There aren't THAT many scams

4 out of 5 startups fail crypto or not. Failing is does not equate to scam. Further more sometimes the difference between a scam, just a poorly run startup, slimely business, and a bad idea isn't so clear. I'd guesstimate that at least 95% of crypto projects actually are acting in good faith.

2. Fraudsters don't follow laws anyways

Scammers are often already breaking laws, if they promise they will do X, Y, and Z and they don't they have already broken a contract and are liable to civil suits, and yes even just a promise in a whitepaper can already be considered a contract! Even emails can be considered to be legally binding between two parties in most countries and most freelancers already know this.
If a fraudster is going to really scam people they will be one of those projects with an anonymous team or a fake one. And guess what since the government can't stop people from making crypto transactions a scammer from Russia is still going to be taking your ETH regardless of the regulation because they are anonymous!

3. Regulation favors the rich

In America you often have to be an accredited investor to invest in early startups. In other words to invest in a young company that is having an ICO, if the same rules applied to crypto, you would have to be accredited. So what is an accredited investor?
To be an accredited investor, a person must demonstrate an annual income of $200,000, or $300,000 for joint income, for the last two years with expectation of earning the same or higher income. An individual must have earned income above the thresholds either alone or with a spouse over the last three years. The income test cannot be satisfied by showing one year of an individual's income and the next two years of joint income with a spouse. The exception to this rule is when a person is married within the period of conducting a test. A person is also considered an accredited investor if he has a net worth exceeding $1 million, either individually or jointly with his spouse. The SEC also considers a person to be an accredited investor if he is a general partner, executive officer, director or a related combination thereof for the issuer of unregistered securities.
source
This means you basically have to be a millionaire to invest in early stages of a startup. So that means 99% of people in this subbreddit could no longer participate in ICOs if the same rules applied.
Furthermore the people that will be writing these regulations are going to tend to be older people who have more traditional and conservative investments, so why would someone who is invested in say paypal, want to make it easy for their investment to be made irrelevant? They have disincentive to create good and fair regulations. They lack what Nassim Taleb calls "Skin in The Game" which leads to poor or selfish decisions.

4. No one seems to actually know what "regulation" means

I see people commenting about how they don't like project A and that its a "scam". Truthfully I feel this is often because sometimes it isn't always the best technology or startup that is the best investment so people can get butt hurt over it when they see projects they don't like become successful and then they say "oh I wish there was regulation so this wouldn't become popular." What the fuck are you guys talking about? How do regulate whether or not a shitty technology is favored by people over a good one? Do you really think the government should be deciding what is "good" or "bad" technology? Because if they did Bitcoin would have never been invented in the first place.
Also "regulation" isn't some magic thing that will stop bad things or even scams. Because of the nature of decentralization people can very easily be anonymous and setup ICOs.

5. Regulation will be ineffective and will cause brain drain

Like it or not tax/regulation havens will always exist. So companies will tend to move to places with the least regulation, Binance is a good example of that. And since crypto transactions are trustless the actual company can be in Malta even if the token or coin is used primarily in somewhere like the US. Which means that these crypto companies will still be able to reap the benefits without any of the cost of physically being in some country. That's a lot of tax revenue that will be lost because of regulation.
This also creates more inequality as it means most of the worlds wealth will end up be more concentrated in tax havens. Not to mention anonymous scammers don't follow regulations anyways.

6. You are telling the government you are too stupid to handle your own money

Why on earth should you or the government or anyone tell me I can't throw $1000 bucks at some startup on the other side of the world? Regulation is only going to add more red tap for small startups, I have some experience with this personally as I work for two blockchain startups.
One of these startups I suggested they add an equity function to their utility token, turning it into stock + utility token, as I think that is way more valuable to investors and they will likely be able to raise more money in their ICO. However they have determined that the paperwork alone costs way too much time and money. So these regulations are already hurting both investors and startups. Regulation KILLS innovation.
You can't get 1000x return on one investment without taking a 95% loss on 10, in the end it is still worth it and you still win but regulations will make it damn near impossible for regular people to invest in projects in their early stages or from new better startups being created, so you will only be "protected" from insane profits with maybe a slight improvement in your losses.
More regulation means less profit, and lets be real, most of you are here and want "regulation" because you want more money but this is the worst way to go about it.
If you are too stupid to do basic research and to have diversified your portfolio then you are bad at investing and you shouldn't be playing this game, no amount of regulation will make you a better decision maker. We need the right to make bad investments that fail because that's how investing is done, you tend to make a loss on most investments but the few that profit more than make up for the sum of losses. Just think of the potential of millions of world changing startups that will never be because of red tape.
It's like taxing people because they are dumb.

The Solution: Lawsuits

You can still sue people for things that are not explicitly breaking a law, but breaking a contract. The only regulation should be a business license so the government knows who they are, after that its not harm no foul rule. That means that if ICOs or cryptos try to trick people that they can be taken to court and sued to hell so they still are culpable for wrong doing without hindering young startups.
Stricter regulations would have made a lot more sense in a pre-internet and pre-crypto world. This is because only people who could make researching and educating themselves a full time job could really understand if a business had a reasonable proposition and model since researching anything pre-internet was way more difficult. However with the democratization of information with the internet and of value with crypto these regulations don't make as much sense because the informational asymmetry has almost entirely disappeared between accredited investors and regular motivated people. The only difference now is the size of the wallet, this is a terrible world to live in where only rich have the options.
I highly recommend everyone in crypto read Nassim Talebs "Incerto" collection particularly his latest book "Skin in The Game".
submitted by cryptonewsguy to CryptoCurrency [link] [comments]

HUGE Bitcoin Drop Incoming? XRP & ADA To Pump? Binance To ... Binance วิธีเติมเงิน Bitcoin (BNB) Binance Bitcoin exchange - (BTC ETH LTC BCH XRP) Binance.com How to buy Bitcoin and send it to Binance to buy LEND BITCOIN bear trap ?, Binance BULL & BEAR TOKEN DELIST what do now? - CRYPTOVEL McAfee to name Nakamoto, Easter Bitcoin Boom ?, Binance Coin booming! Bitcoin Kurs - Was ist mit Bakkt?  Binance vor Einbruch?  Libra Game Over?  GRAM Kaufen BITCOIN BREAKOUT TODAY!!!  Binance Leverage Trading, Will Compete With Bybit & BitMEX Bitcoin Cash SMASH! 56% / TenX 18% / NEO 14% / Binance 66% / Cryptocurrency Chart Reading Bitcoin Millionaires: To The Moon!

/ BitMEX Top 10 Traders – The Bitcoin Millionaires. The platform has grown from few trading pairs to over 190+ trading pairs and 40 different margin trading pairs. However, the best thing about the platform is the transparency. It keeps a track of its top performers and lists them on a leaderboard. So today, let’s have a look at these top performers making millions of dollars by trading ... Binance users can now buy Bitcoin with practically all of the fiat currencies in existence; Binance, which is one of the leading cryptocurrency exchanges in the world, has partnered with the peer-to-peer crypto exchange Paxful. Via this partnership, Binance users can now use 167 different fiat currencies to buy Bitcoin. Because BRAD are doing the best effort than others that I know, .. at this moment (today) Paccoin started show that want go up, but BRAD want this coin grown slowly, .. Will be very hard, because Pasccoin will go to moon soon, veeeeery soon, especially when the Korean investment and other Asian countries start again .. I saw the market is down yet but Paccoin has go from 0.0035 to 0.0062 in ... Is Bitcoin Billionaire Serious or Not: The Verdict! 1). Bitcoin Billionaire claims to have a success rate of about 88%. 2). The website and platforms are user-friendly for both experienced and ... Only 12,000 BTC Millionaires. Another chart, as posted by analyst Willy Woo, has shown that the number of BTC millionaires stands at only 12,000 out of 36 million globally. “Here’s the chart for the number of Bitcoin Millionaires over time, around 12,000 right now. There’s 36m Millionaires on this planet, it’s still early days if you ... #bitcoin Bitcoin is to be listed on the German stock exchange, the Bitcoin millionaires club is growing again, Bitcoin not Gold is the fastest horse in the race, Huge BTC sell off but still very healthy returns, A Bitcoin wallet provided offers access to Amazon and Spotify etc… and lastly Bitcoin is sending mixed signals, so are we going to break $10k or not!

[index] [16418] [18124] [4514] [11184] [9813] [19604] [21428] [12871] [13297] [21499]

HUGE Bitcoin Drop Incoming? XRP & ADA To Pump? Binance To ...

$10,000 Ripple XRP End Game ... Robert Kiyosaki & Harry Dent [Rich Dad Show Radio] - Duration: 42:29. The Rich Dad Channel 446,790 views. New; 42:29. WHALE BUYS 1K BITCOIN - Binance CoinMarketCap ... Bitcoin is a storm now. will it be 2M USD 2020!? The price is rising. 10x in 2017 (wow) If you want to buy/sell bit coin BTC ETH, LTC and so all you can use Binance that one of the best exchange ... Binance Exchange News: on price, analysis, Announce new project for holders Binance Exchange 43,862 watching Live now 🔥Hedera Crypto Up 300% - Bitcoin News Flash - Duration: 9:31. เทรดหุ้นบิทคอยน์กับเว็บ Binance ทำกำไร 1,568บาทภายใน 1ชั่วโมงครึ่ง(binance trading) - Duration: 24:06. **On today's episode of The Cryptoverse Market Roundup:** Biggest winner: Bitcoin Cash Biggest loser: TenX Most traded: LiteCoin Honorable mention: NEO Crazy Coin: Binance Learn how to make money ... In this video I show you how to buy bitcoin and send it to Binance to buy some LEND. Here are the links: https://kulechov.com/out/coinbase/ https://kulechov.com/out ... It has made millionaires, broken millionaires, and given people an insight into what the future of finance could look like. It’s an intriguing CV. However, when it collapsed from a long-held ... Bitcoin Kurs - Was ist mit Bakkt? BNB Coin vor Einbruch? Libra Game Over? GRAM Kaufen 0:48 - Kurs & Markt Update 2:55 - Bitcoin Kurs - Wo geht die Reise hin? 7:26 - Binance Coin BNB vor ... Bitcoin Technical Analysis & Bitcoin News Today: Binance will launch Bitcoin leverage trading. This mean that Binance will compete with BitMEX and Bybit. Also, I'll use technical analysis on the ... BITCOIN bear trap ?, Binance BULL & BEAR TOKEN DELIST what do now? - CRYPTOVEL Crypto Vel. Loading... Unsubscribe from Crypto Vel? Cancel Unsubscribe. Working... Subscribe Subscribed Unsubscribe ...

http://pocketoption-review.swissforexbroker.ch