Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
A very disturbing article on alt-right organizations' use of Bitcoin.
Obviously, other users of Bitcoin are not tarnished in any way by any association with them, but these groups are among those who welcome a way to get around the normal system and normal controls, including government scrutiny.
I'm not sure what the meaning is for Bitcoin in general, if any, but I find it interesting nonetheless.
The only problem i have with this development is that in the 'old world', you make a company
there are rules under which you can call in funds from investors, typical in EU legislation you
can do what you want, if you don't call the 'general public' = many small investors. those rules
have been established after accidents happen. For that general public, you need to create a
prospectus, you need to get an approval, you need to follow certain rules, audit and publish
accounts...
Now with alt-coins all of this doesn't seem to be necessary..
I can tell you it IS necessary
the little man has been give an automatic gun and will shoot himself in the foot
will then blame government for missing rules and lack of protection against scams..
remember my words, i have said them 'in tempore non sespecto'.. aka today
Thanks for the document. It is very interesting.
At last the major part of this coin has to be funded by the crowd
Just to be part of another nugget field of gold in the future.
Where nobody knows how things will develop.
Smells like crypto were diving up from the illegal swamp to the surface
to be used by anybody - aka washing money.
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
Thanks Given: 4,388
Thanks Received: 10,207
I understand many of the positives of cryptocurrencies but one of the huge negatives is that it gets around money laundering laws. I can not even guess how much is being laundered through these currencies. Don't think small alt-right, think drug cartels.
I'd be surprised if alt-coins don't get cracked down on really hard. So much like equities and to open to fraud.
You're right, of course. I knew about the drug money -- it's been a mainstay of cryptos for years. After all, who has a bigger reason to use easily and anonymously launderable money?
I was just surprised at others who are seeking the same benefits. No doubt anyone who is outside the normal regulatory framework and restrictions will be drawn to them. Not hard to see why.
As to the alt-coins, the rise of these schemes is a true shocker.
