Re: G20Meeting: "Crypto-assets do not pose risks to global financial stability"

Quote from: BeruchN on March 19, 2018, 01:34:12 PM

Source: https://uk.reuters.com/article/us-g20-regulations-carney/g20-watchdog-focuses-on-rules-review-holds-fire-on-cryptocurrencies-idUKKBN1GU0SF

Do you think the market is responding to this? ETH and BTC both went up recently, even though the article reads more like FUD.

"For now, crypto-assets dont pose risks to financial stability, partly because they are still small relative to the financial system. Even at their recent peak, their combined global market value was less than 1 percent of global economic output, the FSB said.
"

Thoughts?

What a bunch of ignorant fools.

...ok, well, they aren't, the heads of the 20 most powerful countries are definitely not fools.

But, in the world of crypto, they are.
The very nature of blockchain is meant to disrupt financial stability.
Taking a look at the "marketcap", seeing that it is less than 1 percent of global economic output and deciding that it's not a risk, is flat out stupid.

Well, as far as the market though, I doubt it affects or will affect the market that much.
What the market really needs is not some average joe deciding to buy a couple thousand dollars worth of btc because of a news segment he saw.
What we need is institutional money to jump in, and they are not phased by such petty squabbles.

The market is poised for a huge bull run, and as many see the last couple months as a "crash" an institutional investor will see this as stability and be more inclined to jump in.
so, I don't expect much from these types of announcements at all.