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Re: A deleted message

Wednesday, 10/18/2017 10:39:03 PM

Wednesday, October 18, 2017 10:39:03 PM

Post# of 21718
I have been reading about crypto money. I have this understanding that its use today, which is quite large in daily dollar terms -- many billions -- that it reflects to growing demand by and for money launderers. This is a level or two above simply tax evasion, or, I should say, tax avoidance. In other words, this is money that was never intended to be partially taxed in the first place. Usually it is money associated with criminal enterprises -- very large criminal enterprises that generate money flows in the billions.

To me, that is a concern. A moral concern.

My additional impression is that crypto money functions somewhat like gold. Since the available supply is limited, fluctuations in demand determine price. That said, I think crypto money at present is being marketed much like gold and silver have been marketed to retail investors for decades. The basic message is a simple one: buy now, because it's going up, always going up.

The Nasdaq's third tier, the AMEX can be just as bad, and last but not least, the OTC, it seems, are financial venues that reward failure.