Bitcoin (BTCUSD)

[Strategyone]

Expand your knowledge and your thinking....

This should be banned. It is incomprehensible to me why the SEC, the FED and the US government remain inactive.

A couple points of interest to help your understanding.

1) Bitcoin (and all crypto currencies) are global and not "controlled" by any one country. This is one of the many selling points of this technology. Russia and China have already tried "banning" bitcoin and failed. Yes, some countries will have more influence in general simply due to the wealth however, the global market will continue to ebb and flow to accommodate individual countries attempts to exert too much control.

2) The US Gov/SEC/FED are not inactive at all. First, the Gov allowed the largest exchanges to register and do business in the US. Then they filed and won court cases to force said exchanges to disclose cumulative annual transactions above $20k for them to collect taxes on gains (keep in mind this is primarily what the gov wants.... taxes). Then there is the SEC, granted they are slow however they are very deliberate. They have banned some of the biggest and worst offenders (Ripple for example) and just approved ETF as a financial vehicle for the big players in the market. This has the effect of sucking in large numbers of people and big money which also has influence over gov. rules and regulations. This is ultimately good for the crypto currency market as there should be rules and regulations to avoid obvious scams and bogus cryptos. It will never be a perfect world but there should continue to be guard rails developed over time. This also puts pressure on other countries to do similar type regulations. Then there is the FED. They have been wavering back and forth on the pros and cons of blockchain technology. It is inevitable (IMHO) that the FED will create their own competitor to Bitcoin in order to get the benefits of digital currencies on the block chain technology. This is simply more efficient than FIAT. Most countries will also come up with their own digital currencies to compete but NONE will have the primary selling points of Bitcoin (no one country controls and finite limited supply so no unlimited printing presses to devalue Bitcoin).

This leads me to my opinion which is more and more people are waking up and realizing bitcoin is here to stay and going up with every 4 year halving cycle. It's kind of like real estate or gold. Yes, it will go up and down but over time, supply and demand will always pressure to the upside. It is also more liquid, convenient, and globally portable than those other two asset classes.

Good luck