Re:U.S. Launches Criminal Probe into Bitcoin Price Manipulation
by Cthulhu_ on Thursday May 24, 2018 @07:54AM
(#17143093)
They would've been right if it was the Zimbabwaean dollar if you bought it in the 80's, or one of Bernie Madoff's financial products.
They could still be right, given time. They've been right for Bitcoin Gold, for example. They were right when MtGox crashed.
Re:U.S. Launches Criminal Probe into Bitcoin Price Manipulation
by bripeace on Thursday May 24, 2018 @11:49AM
(#17145157)
What market have you been watching where you think the statement 'Investing in bitcoin is extremely risky' has been proven wrong?
In one day in Nov 2017 bitcoin went up 15% in early trading then was down 21% later in the day before rebounding to close near even.
Whether bitcoin will be some like long lasting actual useful thing remains to be seen, but one thing that is undeniable is that investing in bitcoin is extremely risky.
This hold true just focusing on the general market behavior alone while ignoring all the issues such as getting money into and out of exchanges and hacks.
Re:U.S. Launches Criminal Probe into Bitcoin Price Manipulation
by celticninja on Thursday May 24, 2018 @08:18AM
(#17143215)
My point was more that as a regulated individual a financial advisor should never have advised an investment in bitcoin. Even if the market proved them wrong (as it has up to now) it doesn't make them wrong for not advising you to invest in it.
Also they have been calling bitcoins death since about 2009 when it was created so I would not put too much faith in those predictions. If anything this sort of thing could help bitcoin, either price manipulation is identified, the culprits prosecuted and bitcoin goes on as it is. Or no manipulation (or not significant manipulation) is identified and bitcoin carries on as it is but with a govt. seal of approval (up to that point).