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  1. #161
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    Quote Originally Posted by R0H1T View Post
    In other news ~ Over $50 Million In Bitcoin Stolen from NiceHash

    I think 80+ if that news of 20k per BTC is accurate!
    Think it was $64 million


    #Mein inko rolaonga

  2. #162
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    Quote Originally Posted by Syed1 View Post
    Crossed 20K today
    15k not 20k! (USD)


    For the latest updates on Cricket, follow @PakPassion on Twitter

  3. #163
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    Quote Originally Posted by MenInG View Post
    15k not 20k! (USD)
    I was talking in Canadian dollars lol sorry


    #Mein inko rolaonga

  4. #164
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    Greed has propelled this "currency" out of control. Now we sit back and wait for the crash.

  5. #165
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    I won't buy any bitcoin now. This much growth at once is unhealthy. I think people are rushing in BTC because of the Christmas season coupled with media hype. Long term prognosis is still good.

    If you still want a piece in crypto I would go with LTC and as I suggested in my first post in this thread look into VTC. I have more than doubled my investments in VTC since then.

    VTC is better than other coins in many ways. One reason is that it has been in development since 2014, the development team is serious about its long term goal and is committed. There are other technical aspects. The thing I personally like is that VTC is also supported by hardware wallet Nano Ledger S. Hence I can store it safely.

    The hack which happened recently is why you should never leave your BTC at the online market place and should instead transfer it to a android wallet or preferably hardware wallet.

  6. #166
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    Quote Originally Posted by shane View Post
    Greed has propelled this "currency" out of control. Now we sit back and wait for the crash.
    Greed might be involved. Though for me it's about giving an innovation a chance and lending it support. This stuff can make the banks go obsolete.

    Bitcoin is a revolution! Implementation can go wrong but the idea behind is ingenious and is here to stay. Hence in the next decade perhaps we won't be dealing with Bitcoin but some alternative will be there.

    Right now 80% of rational folks are waiting for some crash. The kind of crash they imagine won't happen and eventually they too will rush in out fear of missing out.

  7. #167
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    Max Keiser who called Bitcoin a buy at $3 is worth a listen


  8. #168
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    Bitcoin USD milestones:
    $0000 - $1000: 1,789 days or 5 years
    ----
    $12,000-$13,000: 17 hours
    $13,000-$14,000: 4 hours
    $14,000-$15,000: 10 hours
    $15,000-$16,000: 5 hours
    $16,000-$17,000: 2 hours
    $17,000-$18,000: 10 minutes
    $18,000-$19,000: 3 minutes

  9. #169
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    Quote Originally Posted by Sirris View Post
    Greed might be involved. Though for me it's about giving an innovation a chance and lending it support. This stuff can make the banks go obsolete.

    Bitcoin is a revolution! Implementation can go wrong but the idea behind is ingenious and is here to stay. Hence in the next decade perhaps we won't be dealing with Bitcoin but some alternative will be there.

    Right now 80% of rational folks are waiting for some crash. The kind of crash they imagine won't happen and eventually they too will rush in out fear of missing out.
    Depends how much experience you have of crashes. At this stage most people have had enough to know good things do not last forever in finance and economics.

    The media has had an influence too. It is no coincidence that the price of Bitcoin has rocketed mostly after it started appearing on Sky News and CNN in the past few months.

    If I was foolish enough to have bought 1000s of dollars of Bitcoin back when it was very cheap (foolish people can get lucky too), I would surely be selling now seeing as I have riches beyond my wildest expectations.

  10. #170
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    Out of interest, I wonder how the rise of Bitcoin has affected the price of bank shares and currencies around the world.

  11. #171
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    Quote Originally Posted by shane View Post
    Out of interest, I wonder how the rise of Bitcoin has affected the price of bank shares and currencies around the world.
    The types of % gains you are seeing in the crypto world is unheard of in any other business! so clearly people are curious and shifting if they can.


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  12. #172
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    I know that this is not unusual in the world of Bitcoin, but it lost 20% of its value in the last two days!

  13. #173
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    Quote Originally Posted by shane View Post
    I know that this is not unusual in the world of Bitcoin, but it lost 20% of its value in the last two days!
    It should lose even more, hopefully. This type of growth wasn't healthy to begin with. Still if you look at the progress of whole week, Bitcoin is still +30%

    Bitcoin is an idea. It's not some kind of a scheme. So Bitcoin might die out but the idea will live on. Bitcoin had massive losses in the past for eg in 2013.

    We are still in the beginning of all this. People should stop wasting their time by looking at the charts daily and instead educate themselves about all this.

    Video 1: What Is Bitcoin & Why Should You Care?

    https://www.youtube.com/watch?v=NKSQdhxnvCc

    Video 2: The real value of bitcoin and crypto currency technology
    https://www.youtube.com/watch?v=YIVAluSL9SU

    Video 3: Bitcoin Is Independent Money
    https://www.youtube.com/watch?v=EzFOwFXlR48

    Video 4: Bitcoin 101 - Balaji Srinivasan
    https://www.youtube.com/watch?v=JIxwTx7o_B4

    https://en.bitcoin.it/wiki/Main_Page

  14. #174
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    Quote Originally Posted by Sirris View Post
    It should lose even more, hopefully. This type of growth wasn't healthy to begin with. Still if you look at the progress of whole week, Bitcoin is still +30%

    Bitcoin is an idea. It's not some kind of a scheme. So Bitcoin might die out but the idea will live on. Bitcoin had massive losses in the past for eg in 2013.

    We are still in the beginning of all this. People should stop wasting their time by looking at the charts daily and instead educate themselves about all this.

    Video 1: What Is Bitcoin & Why Should You Care?

    https://www.youtube.com/watch?v=NKSQdhxnvCc

    Video 2: The real value of bitcoin and crypto currency technology
    https://www.youtube.com/watch?v=YIVAluSL9SU

    Video 3: Bitcoin Is Independent Money
    https://www.youtube.com/watch?v=EzFOwFXlR48

    Video 4: Bitcoin 101 - Balaji Srinivasan
    https://www.youtube.com/watch?v=JIxwTx7o_B4

    https://en.bitcoin.it/wiki/Main_Page
    Thanks for a helpful post on this topic. I have not invested anything in bitcoin but I would like to know more about this subject.

  15. #175
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    Quote Originally Posted by Bhaag Viru Bhaag View Post
    Thanks for a helpful post on this topic. I have not invested anything in bitcoin but I would like to know more about this subject.
    Still not late to invest in Bitcoin. I bought 9 btc in April, sold 4 to recover the money. Now holding 5 left.

  16. #176
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    Quote Originally Posted by CricketCartoons View Post
    Still not late to invest in Bitcoin. I bought 9 btc in April, sold 4 to recover the money. Now holding 5 left.
    From where did you buy those? Zebpay?

  17. #177
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    Quote Originally Posted by Bhaag Viru Bhaag View Post
    From where did you buy those? Zebpay?
    Where are you based? India?

    This website is a good guide to choose the platform best suited to you.

    https://www.buybitcoinworldwide.com

    Just chose your country of stay and payment method. The website also has simple and practical informations for beginners. Make sure to read about how to secure the coin:
    https://www.buybitcoinworldwide.com/#secure-your-coins

    Don't rush in and make a hasty decision. I'd wait a little since I think the price will correct itself and will go further down. This current price has only been around since a couple of days and is most probably caused by constant media hype coupled with christmas season.

    Following is a good post about the current situation that I came across at https://www.reddit.com/r/Bitcoin/com...st_recklessly/

    Quote Originally Posted by don't invest recklessly
    The Bitcoin price is on an unbelievably ridiculous upswing which is rather likely to be a bubble. If you're trying to get rich quick by dumping your retirement funds into BTC at $10k, then your "investment strategy" is not much better than someone betting everything on a game of roulette. High-risk-high-reward investing is not necessarily bad, but you have to seriously look at your thought process to make sure that you're not:


    Being blinded by dreams of getting rich quickly, similarly to people who dump money on very-negative-EV lottery tickets.
    Getting wrapped up in "HODL" memes, reddit comments, and other groupthink, which is sometimes fun, but absolutely the last appropriate source of investment advice.
    Acting based on panic thinking like, "OMG the price is going to $1 million and I will miss my chance forever if I don't buy right now" or "OMG the price is going to $0.01 and I will miss my chance forever to retain some value if I don't sell right now".


    Investing more than you can afford to lose. Bitcoin is HIGHLY, HIGHLY speculative. No investment advisor would tell you to put all of your life savings into MSFT or whatever, and MSFT has a market cap 4x larger than Bitcoin. Although I believe that it is very unlikely, there are several ways in which the value could drop precipitously, even to zero. For example, there is no mathematical proof that the cryptographic algorithms used in Bitcoin are actually secure -- they are merely believed to be secure because nobody has been able to break them after many years of intense scrutiny. (I'm not here recommending "diversifying" into altcoins -- altcoins are almost all complete trash, and price-wise they follow BTC but with even more volatility, so they're not really useful for diversification.)


    It is entirely possible that the massive price increase of the last year is based on lasting fundamentals. In addition to things like the fairly recent subsidy halving, the defeat of B2X, etc., the world fiat-based economy is in many ways on very shaky ground, and getting worse all the time. There are many good reasons why BTC should have a larger market cap than every fiat currency combined. It's even possible that the price will increase quite a bit more from now. But for goodness sake, don't think that Bitcoin is the first-ever infinite-money generator that will continue to rise exponentially forever (in real terms). I can nearly guarantee that there will be a large and long-lasting crash/downturn at some point. Maybe it will be $10k to $5k, maybe it will be $50k to $30k, who knows. But if you're thinking for example that the current $5k+ price range is absolutely secure after only existing for a few months, then you're traveling blind through very dangerous territory.

    Some points to consider:

    Buying near the ATH is very risky, and while it can be correct/profitable, it puts you on the wrong footing. You need to buy low and sell high to make money.


    On 2013-11-29 (exactly 4 years ago) the peak ATH hit $1163, and then fell to $152 by 2015-01-13. That's a drop of 86.9%. Imagine this happens again: The price drops sharply to $2000 or something and then just continuously decreases down to a low of $1,432 (an 86.9% reduction from today's ATH) over the course of a whole year. I'm not saying that this will happen, but it's happened once and it can happen again. Could you survive this?


    Bitcoin is experimental, and it is probably imprudent for someone who is not a true believer in the soul of Bitcoin to invest a lot into it. For example, I personally wouldn't invest more than a few percent of my total assets into ETH even if I felt very confident that it would rise in price because I simply don't believe in its philosophy or long-term value.


    To reduce risk, it is frequently recommended to allocate assets by percentage, and rebalance upon large price movements. Eg. If you previously decided that you want to allocate 50% of your wealth in BTC (because you are a super big true believer), but BTC is now 90% of your wealth because the price increased so much, it may generally be advisable to start selling to rebalance your BTC allocation back down to 50%. I'm not saying that it is always absolutely wrong to have 90% of your assets in BTC or whatever, but it should be because you are intentionally choosing to do so, not because the price got away from you and you never really considered that you now have 90% of your wealth riding on one thing.
    Avoid panic buys and panic sells. Dollar-cost-averaging over a long period of time is often a good strategy.


    Nothing rises in real value to infinity. That's impossible. It is possible that 1 BTC could someday be worth infinite dollars, but that just means that dollars are worthless in that hypothetical scenario. BTC probably does have plenty of room to grow in real value before it completely takes over the world, but keep in mind that there is a ceiling.


    If BTC were to reach values like $100k-$250k, that'd probably cause/imply that the prevailing economic regime has completely fallen apart. At some point in that price area, people around the world would probably lose substantial faith in fiat currencies. A good result, but ask yourself: do you expect the prevailing economic regime to go down easily?
    I'm not telling you to buy or sell, and I'm not giving financial advice here. I'm just urging everyone to think rationally, not emotionally or recklessly.
    I wish you a successful research on this topic.

  18. #178
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    Quote Originally Posted by Bhaag Viru Bhaag View Post
    How to start investing in crypto currency? Any guide for noobs? Don't have money to buy bitcoin but can start with some altcoins like Neo, Ripple etc.
    I assume you are an Indian living in India
    http://www.bitcoinrates.in , see this website for knowing the best Bitcoin buying price (lowest) and highest selling price (highest) in India

    The oldest and popular place to buy bitcoin in India are http://zebpay.com and http://unocoin.com
    Process for Zebpay
    **********
    Zebpay.com (Ahmedabad based company) is only via Mobile App (not through website)
    >Goto Google playstore(android) and download Zebpay and install
    >Upload your PAN card scanned copy, your Bank details, address proof , and wait for account to be approved
    Mine was approved in like 2 hours, i have heard due to mad rush now they taking like 2 to 5 days for approval
    >Through IMPS/NEFT Bank Transfer, transfer money from your bank account (same which you have entered and authenticated with the app.), zebpay will typically add that money into your zebpay wallet typically within 10 minutes to 2 hours (no % commission is deducted)
    If you transferred Rs 100000, you get Rs 100000 in your zebpay wallet
    >Once your wallet is loaded, you go ahead and buy Bitcoin at prevalent rate

    **********
    Unocoin.com is also same - via website
    Upload PAN card, Aadhar, Bank account details, address details and wait for account authentication

    It's not possible to buy Bitcoin in Cash, only through Bank Transfers.

    For bitcoin through cash purchase - http://localbitcoins.com (also Paxful) , but its all doing shady transactions with people you dont know. You can be scammed. Totally NOT recommended.


    Once you have Bitcoin in your Zebpay or Unocoin wallet, you can send them to any wallet, hold them, purchase other crypto.

    Bitcoin Purchase through Creditcard:
    http://Cex.io
    Typically they charge like 6 to 7% on your wallet loads
    Over this 7%, if you use your Indian creditcard - your bank will be charged like 3% on USD<>INR
    so you loose like 9% to 10%.
    Many companies are there, google is your friend

    http://koinex.in is a new Indian crypto exchange, where you can directly purchase other crypto like Ethereum, Litecoin, Ripple

  19. #179
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  20. #180
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    Quote Originally Posted by adwords View Post
    I assume you are an Indian living in India
    http://www.bitcoinrates.in , see this website for knowing the best Bitcoin buying price (lowest) and highest selling price (highest) in India

    The oldest and popular place to buy bitcoin in India are http://zebpay.com and http://unocoin.com
    Process for Zebpay
    **********
    Zebpay.com (Ahmedabad based company) is only via Mobile App (not through website)
    >Goto Google playstore(android) and download Zebpay and install
    >Upload your PAN card scanned copy, your Bank details, address proof , and wait for account to be approved
    Mine was approved in like 2 hours, i have heard due to mad rush now they taking like 2 to 5 days for approval
    >Through IMPS/NEFT Bank Transfer, transfer money from your bank account (same which you have entered and authenticated with the app.), zebpay will typically add that money into your zebpay wallet typically within 10 minutes to 2 hours (no % commission is deducted)
    If you transferred Rs 100000, you get Rs 100000 in your zebpay wallet
    >Once your wallet is loaded, you go ahead and buy Bitcoin at prevalent rate

    **********
    Unocoin.com is also same - via website
    Upload PAN card, Aadhar, Bank account details, address details and wait for account authentication

    It's not possible to buy Bitcoin in Cash, only through Bank Transfers.

    For bitcoin through cash purchase - http://localbitcoins.com (also Paxful) , but its all doing shady transactions with people you dont know. You can be scammed. Totally NOT recommended.


    Once you have Bitcoin in your Zebpay or Unocoin wallet, you can send them to any wallet, hold them, purchase other crypto.

    Bitcoin Purchase through Creditcard:
    http://Cex.io
    Typically they charge like 6 to 7% on your wallet loads
    Over this 7%, if you use your Indian creditcard - your bank will be charged like 3% on USD<>INR
    so you loose like 9% to 10%.
    Many companies are there, google is your friend

    http://koinex.in is a new Indian crypto exchange, where you can directly purchase other crypto like Ethereum, Litecoin, Ripple
    Pls check tax implications thoroughly before investing


    For the latest updates on Cricket, follow @PakPassion on Twitter

  21. #181
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    Quote Originally Posted by MenInG View Post
    Pls check tax implications thoroughly before investing
    In India, this is the tax structure
    Yearly Income up to Rs 2,50,000- No tax
    Income from Rs 2,50,000 – Rs 5,00,000 == 5%
    Income from Rs 5,00,000 – 10,00,000 == 20%
    Income more than Rs 10,00,000 == 30%

    You pay tax WHEN YOU SELL IT AND MONEY COMES IN THE BANK, there is no tax if you are HOLDING it
    Any Gains with Crypto currency, pay tax according to above structure. If you made profits nothing harm paying taxes

  22. #182
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    This doesn't seem like a very good idea tbh.


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  23. #183
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    Quote Originally Posted by adwords View Post
    In India, this is the tax structure
    Yearly Income up to Rs 2,50,000- No tax
    Income from Rs 2,50,000 – Rs 5,00,000 == 5%
    Income from Rs 5,00,000 – 10,00,000 == 20%
    Income more than Rs 10,00,000 == 30%

    You pay tax WHEN YOU SELL IT AND MONEY COMES IN THE BANK, there is no tax if you are HOLDING it
    Any Gains with Crypto currency, pay tax according to above structure. If you made profits nothing harm paying taxes
    That is income tax, BTC will probably attract capital gains AFAIK & that's taxed very heavily.

  24. #184
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    Litecoin is on fire
    https://coinmarketcap.com/currencies/litecoin/
    $80 to $240 in like 4 days

    IMHO> Anybody is on fence and want to take the crypto investment medicine, take aside money from your wealth which "YOU CAN AFFORD TO LOOSE"
    Invest that money, build a crypto portfolio and forget it for like 1 to 2 years
    XXX Money to Invest
    25% = Bitcoin
    15% = Litecoin
    15% = IOTA
    15% = Ripple
    15% = Ethereum
    15% = Dash

    Only invest your own money, which are can afford to loose

  25. #185
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    Any recommendations on investing in some ALT coins which are affordable to buy plus futre prospects? ICOs?

  26. #186
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    Quote Originally Posted by hello143 View Post
    Any recommendations on investing in some ALT coins which are affordable to buy plus futre prospects? ICOs?
    Forget the ICOs. I wouldn't waste time on them.

    I can see LTC going 1k+ since BTC is going 10k+. All the new money in BTC won't going out if the system without first flowing into LTC. LTC because is available on all the popular exchanges especially coinbase.

    My personal favorite is VTC, because their team is serious about their goals and has been steadily working on it since 2014. Problem with VTC atm is that it's not easy for newbs to acquire it since there is no USD/VTC exchange and it's only available on handful of exchanges with bittrex being the most popular. Still I can see VTC growing long-term wise.

    Most of the other alts I don't care or know much because for me to throw my money at some coin I have to thoroughly look it up and don't just buy into the Twitter or YouTube hype. Coins like IOTA or XMR have been doing great recently but I am still not ready to buy in.

  27. #187
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    What I like to is I go to coinmarketcap.com search the coin I am interested in and look up their social media feed available via coinmarketcap.com.

    I see if people are just hyping up the coin or are really rational in their approach and discussing issues the coin is facing.

  28. #188
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    Quote Originally Posted by adwords View Post
    Litecoin is on fire
    https://coinmarketcap.com/currencies/litecoin/
    $80 to $240 in like 4 days

    IMHO> Anybody is on fence and want to take the crypto investment medicine, take aside money from your wealth which "YOU CAN AFFORD TO LOOSE"
    Invest that money, build a crypto portfolio and forget it for like 1 to 2 years
    XXX Money to Invest
    25% = Bitcoin
    15% = Litecoin
    15% = IOTA
    15% = Ripple
    15% = Ethereum
    15% = Dash

    Only invest your own money, which are can afford to loose
    I believe this is very very sound advice.

    Calculative and smart.

    Know a guy who has $5 million in bitcoin but he invested a couple of years back. Many are investing in it right now.

    From what I have read, I am becoming convinced that bitcoin being in a massive bubble will crash for sure (when is the question) and may or may not stabilize but I hear the block chain technology here to stay.

    RBI has issued warnings about bitcoins like 3 times now. Using bitcoin for payment is banned in India as of now. What is to stop other countries from doing the same?

    What could happen is that governments could bring in their own crypto currencies which will be regulated and stable (with mining banned) and they will be used for quick & easy transfer. Or it could be that all the current coins (bitcoins, alt coins) after crashing down become heavily regulated in the future. I am a bit hazy on this.

    Will be interesting to see the developments.


    I am not one of you. I never was. I am not one of them either.

  29. #189
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    https://www.cnbc.com/2017/12/11/peop...twitter%7Cmain

    Bitcoin is in the "mania" phase, with some people even borrowing money to get in on the action, securities regulator Joseph Borg told CNBC on Monday.

    "We've seen mortgages being taken out to buy bitcoin. … People do credit cards, equity lines," said Borg, president of the North American Securities Administrators Association, a voluntary organization devoted to investor protection. Borg is also director of the Alabama Securities Commission.

    "This is not something a guy who's making $100,000 a year, who's got a mortgage and two kids in college ought to be invested in."

    Bitcoin has been soaring all year, starting out at $1,000 and rocketing above $19,000 on the Coinbase exchange last week. The price on Coinbase, which accounts for a third of bitcoin trading value, is often at a premium over other exchanges.

    The cryptocurrency was trading at just under $16,700 on Coinbase at 2:21 p.m. New York time Monday.

    "You're on this mania curve. At some point in time there's got to be a leveling off. Cryptocurrency is here to stay. Blockchain is here to stay. Whether it is bitcoin or not, I don't know," Borg said in an interview with "Power Lunch."

    He also doesn't think futures contracts legitimize the digital currency.

    Bitcoin futures, trading under the XBT ticker symbol, debuted on the Cboe futures exchange on Sunday night. The CME plans to launch its bitcoin futures Dec. 18.

    While futures contracts are regulated, bitcoin itself is not. Borg said that's because innovation and technology always outrun regulation.
    "As [technology] continues to accelerate and continues to increase, regulators have got to understand what it is that the innovation's coming up with and we're still trying to get educated," he said.

    "We're looking at it from a money transmission point of view but that doesn't cover the entire bitcoin space."


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  30. #190
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    Adwords has given sound advice.

    Diversification is important for any investment opportunity especially one as volatile as cryptocurrencies. Throwing money at one coin is gambling not investing.


    May the Hawks Fly Forever. Lightning Hawks CC -- Team Thread.

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