Re:South Korea considers cryptocurrency tax
by fatjokes on Wednesday December 13, 2017 @04:21PM
(#15917775)
> I agree - but backed with concerns based on legitimate understanding not "price is going up quickly, must be a scam".
Something that goes up and down so quickly and so frequently does warrant concern. Nobody has that understanding at the moment and it needs investigating.
> Because they did such a great job in 2008?
Maybe not the American government, but IIRC, Iceland is punishing the bankers (jail!) and the Canadian government has been praised for having kept a steady ship during the crisis through their economic policies. Governments can work.
Re:South Korea considers cryptocurrency tax
by colordrops on Wednesday December 13, 2017 @06:21PM
(#15918654)
> Something that goes up and down so quickly and so frequently does warrant concern.
Why is "going up and down so quickly" inherently bad? There's no moral or legal standard on volatility. It's just a metric, everyone is aware of it, and everyone should act accordingly.
Re:South Korea considers cryptocurrency tax
by thkim on Thursday December 14, 2017 @01:56AM
(#15920436)
it is not about morality. volatility is bad for any currency. it's simple truth.
Re:South Korea considers cryptocurrency tax
by colordrops on Thursday December 14, 2017 @02:27AM
(#15920543)
Despite mass perceptions and previous assertions long in the past by its creator, bitcoin is not a currency, nor are most people attempting to use it as one. Neither is it digital gold, or an asset management system, or any other easy label. These terms were and are used as analogies to help people grasp blockchain technology, but it is a new and altogether different beast from previous monetary instruments, and not subject to the same constraints.
I agree - but backed with concerns based on legitimate understanding not "price is going up quickly, must be a scam".
> I think governments/regulators should have some say the same way you'd want them to regulate any financial instrument and punish Ponzi schemers and pump-and-dumpers.
Because they did such a great job in 2008? When are they planning to punish the architects of the financial crisis? Who's going after the banks when they launder money for mexican cartels and ISIS? You really think these people are trying to protect the public?
> I'd like to think about the motives of both sides from being so passionate.
I can't speak for anyone else but I come to these threads hoping to find sensible insight and technical analysis not "THIS IS A BUBBLE! BAN IT!"
> For yaysayers, it's a bit more obvious---once the hype dies, they'll stop making money.
There may well be a huge correction but the overall market is anti-fragile and here to stay.
An article that sums up my thoughts: https://www.callmegwei.com/2017/11/24/crypto-price-isnt-an-e...