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Bitcoin Sudden Plunge Revealed: UK Plans Regulatory Crackdown On Cryptocurrencies

GAMETHEORY

GAMETHEORY

Rising Star
BGOL Investor
Just after 430pm ET Bitcoin plunged from session highs just under $12,000 to a low of $10,600 on what appeared at first sight to be no news.

Taking a page out of the Chinese playbook, the UK Treasury has announced plans to regulate the Bitcoin that will force traders in so-called crypto-currencies to disclose their identities and report suspicious activity.

The proposed changes come amid increasing fears that Bitcoin is being used by gangs to launder the proceeds of crime while also attracting currency speculators - with the value of the coin soaring in the past 12 months.

In other words, the same reason why the IRS is cracking down on Coinbase clients in the US is also why UK and European regulators are joining China in cracking down on capital flight.

Connect to this:

http://www.bgol.us/forum/index.php?...on-for-black-entrepreneurs-businesses.710796/


Source:

http://www.telegraph.co.uk/news/201...down-amid-fears-money-laundering-tax-dodging/
 
GAMETHEORY said:
Just after 430pm ET Bitcoin plunged from session highs just under $12,000 to a low of $10,600 on what appeared at first sight to be no news.

Taking a page out of the Chinese playbook, the UK Treasury has announced plans to regulate the Bitcoin that will force traders in so-called crypto-currencies to disclose their identities and report suspicious activity.

The proposed changes come amid increasing fears that Bitcoin is being used by gangs to launder the proceeds of crime while also attracting currency speculators - with the value of the coin soaring in the past 12 months.

In other words, the same reason why the IRS is cracking down on Coinbase clients in the US is also why UK and European regulators are joining China in cracking down on capital flight.

Connect to this:

http://www.bgol.us/forum/index.php?...on-for-black-entrepreneurs-businesses.710796/


Source:

http://www.telegraph.co.uk/news/201...down-amid-fears-money-laundering-tax-dodging/
Click to expand...
Fucked up thing is, those that missed the first boat of Bitcoin are going to be sick as fuck behind this! I didn't get the first wave, but put a nice piece on it in 2010-2011 so I'm chillin' :money:
 
Ha not a,bitcoin man cause I made,my wealth off stocks but I think there will be an,imminent crash in 9-15,months. After May next year, pay close attention and be ready to pull out. I know a dude who is frivolous with his money and bad investments and now he's talking about bitcoin. When joes talk about it, the peak is near.
 
lazarus said:
Ha not a,bitcoin man cause I made,my wealth off stocks but I think there will be an,imminent crash in 9-15,months. After May next year, pay close attention and be ready to pull out. I know a dude who is frivolous with his money and bad investments and now he's talking about bitcoin. When joes talk about it, the peak is near.
Click to expand...

Bitcoin maybe, but overall digital currency so diverse, they won't be able to keep up with all of it. It's open source too... Its the new wave, they just want their piece but they will never be able to get out in front of it...
 
IT IS WHAT IT IS said:
Bitcoin maybe, but overall digital currency so diverse, they won't be able to keep up with all of it. It's open source too... Its the new wave, they just want their piece but they will never be able to get out in front of it...
Click to expand...
I agree with you. Portfolios of digital currency will need to be diverse.
 
Last edited:
Thats why its critical to really dig into Alt coins. They are coming after Bitcoin specifically, but there are so many different Alt Coins by the time they catch up smart investors will have made their gains and cashed out. Verge is one that for me is really one that will be difficult to even attempt to regulate, and the growth is anticipated to be huge over the next 18 months
 
IT IS WHAT IT IS said:
Thats why its critical to really dig into Alt coins. They are coming after Bitcoin specifically, but there are so many different Alt Coins by the time they catch up smart investors will have made their gains and cashed out. Verge is one that for me is really one that will be difficult to even attempt to regulate, and the growth is anticipated to be huge over the next 18 months
Click to expand...

Noted
 
GAMETHEORY said:
Just after 430pm ET Bitcoin plunged from session highs just under $12,000 to a low of $10,600 on what appeared at first sight to be no news.

Taking a page out of the Chinese playbook, the UK Treasury has announced plans to regulate the Bitcoin that will force traders in so-called crypto-currencies to disclose their identities and report suspicious activity.

The proposed changes come amid increasing fears that Bitcoin is being used by gangs to launder the proceeds of crime while also attracting currency speculators - with the value of the coin soaring in the past 12 months.

In other words, the same reason why the IRS is cracking down on Coinbase clients in the US is also why UK and European regulators are joining China in cracking down on capital flight.

Connect to this:

http://www.bgol.us/forum/index.php?...on-for-black-entrepreneurs-businesses.710796/


Source:

http://www.telegraph.co.uk/news/201...down-amid-fears-money-laundering-tax-dodging/
Click to expand...


This is almost exactly what I feared from my post in the cryptocurrency thread about the impact of the end of net neutrality. If net neutrality goes... then this is the next step here.

Uk is coming down hard on internet regulation and are providing examples of what can happen here.

Also UK’s attacks on Internet streaming/Kodi are why a lot of the Kodi add-ons are slowing closing up shop. AresWizard Shut down yesterday.

I use to think that Kodi could survive through this.. that another Would rise when an add-on falls... but regrettable a lot of these add-ons are built and maintained in Europe.
 
IT IS WHAT IT IS said:
Bitcoin maybe, but overall digital currency so diverse, they won't be able to keep up with all of it. It's open source too... Its the new wave, they just want their piece but they will never be able to get out in front of it...
Click to expand...

They can if they stay start regulating the network that bitcoin uses.. cryptocurrency is mined through the internet. If you start going after ISP’s forced them to throttle access to certain sites or deny access to these market exchanges... Then the market gets affected. This is what the UK is doing to BitTorrent there as we speak. That’s why Bitrax pulled out of allowing US customers.

I don’t think that they will ever completely stop it because it can me maintained through the deep web... but it goes back there exclusively the price is going to drop.

These are just some of the reasons why people need to call their congressman about keeping net neutrality. If it ends... I would likely start cashing out or finding alternative markets.
 
fonzerrillii said:
They can if they stay start regulating the network that bitcoin uses.. cryptocurrency is mined through the internet. If you start going after ISP’s forced them to throttle access to certain sites or deny access to these market exchanges... Then the market gets affected. This is what the UK is doing to BitTorrent there as we speak. That’s why Bitrax pulled out of allowing US customers.

I don’t think that they will ever completely stop it because it can me maintained through the deep web... but it goes back there exclusively the price is going to drop.

These are just some of the reasons why people need to call their congressman about keeping net neutrality. If it ends... I would likely start cashing out or finding alternative markets.
Click to expand...
IP maskers work tho I believe
 
IT IS WHAT IT IS said:
IP maskers work tho I believe
Click to expand...

That’s what I thought to.. but even with a vpn your ISP would notice on their end the amount of your download traffic and could still throttle you. If net neutrality does end then ISP’s could technically throttle or temp bar a IP that appears masked on their network. Do I think it could happen? NO but the problem is that the end of net neutrality could open that door.


This would be more impactful for the mining process and if you throttle the mining process then you Fuck up the stability of the system.
 
The article is just FUD. The U.S. already requires blood samples in order to buy crypto. They just want the identity thing in place so that they can track the humanoids(masses) who know nothing of how to hide their identity. This is nothing like the China thing since China had a huge influence and people were worried about miners.

Governments are so concerned that citizens will have more control over their money instead of handing it to the governments to piss away. The super rich who already practice tax avoidance already have ways set up to avoid capital controls so they don't pay their 'fair share.' :smh:

As far as net neutrality is concerned, if the companies act like greedy idiots, they will just allow the east to take over. The east already has far superior Internet access. :smh:
 
IT IS WHAT IT IS said:
Thats why its critical to really dig into Alt coins. They are coming after Bitcoin specifically, but there are so many different Alt Coins by the time they catch up smart investors will have made their gains and cashed out. Verge is one that for me is really one that will be difficult to even attempt to regulate, and the growth is anticipated to be huge over the next 18 months
Click to expand...
People aren't even using Verge though. They are using Monero and Z-cash. DHS already has Monero on their shitlist.
 
easy_b said:
I know some of y’all going to get pissed at me but take some money out while you can don’t get too greedy I’ve been telling you guys
Click to expand...
How much do you have in and how much are you going to take out?
 
:giggle:
Wolves chasing this big beast waiting for it tire so they can swoop in for the kill.
 
I'm pissed I had money stuck in a euro currency exchange that went under in 2013. Had $50 worth of Bitcoin and don't know what that would of been today. The company went out of biz.
 

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