Quote from: coin-investor on October 02, 2019, 05:07:09 AM

You should not start investing and holdling Cryptocurrency until you learn everything about how to secure your wallet and how hackers are going to try to hack your wallet, you can find everything you need to learn on how to do all these on Youtube and Google, everybody starts here it's risky experimenting on your own without doing research.

What's the point of this post, he's not asking for advice, he's giving his opinions on why BTC investments are risky, which is flawed due to some of the logic he provides - nothing related to holding BTC, and securing your wallet..

Quote from: Kakmakr on October 02, 2019, 05:27:23 AM

Quote from: jane maradona on October 02, 2019, 02:38:37 AM

The value is not guaranteed, so buying and using Bitcoin carries a number of inherent risks. Many investor warnings have been issued by the US Securities and Exchange Commission (SEC), the Financial Sector Regulatory Authority (FINRA), the Department of Consumer Financial Protection (CFPB), and institutions. other officials

Explore more What is Bitcoin? Basic knowledge for effective Bitcoin investment: https://vakaxa.com/vi/bitcoin-la-gi/

Legal risks
Bitcoin can be used for black market transactions, money laundering, illegal activity or tax evasion. Therefore, governments can seek to regulate and regulate the use or trading of bitcoin.

For example, in 2015, the New York State Department of Financial Services finalized regulations that would require companies to process purchases, sales, transfers, or store bitcoins to record customer identities. Transactions of $ 10,000 or more will have to be recorded and reported.
In addition, the lack of uniform regulations on Bitcoin and other cryptocurrencies raises questions about their lifetime, liquidity and popularity.

Security risks
As with any system, Bicoin transactions are at risk of being hacked, malware and malfunctioning during operation. If a hacker gains access to the Bitcoin owner's computer hard drive and steals the private key, he can transfer the stolen Bitcoin to another account.
A particularly notorious theft took place in 2014, when Mt. Gox, a Bitcoin exchange in Japan, was forced to shut down after Bitcoin worth millions of dollars was stolen.

Fraud risks
Because the issuance of cryptocurrencies, ICOs etc. has not been regulated by the government yet, scammers can sell fake bitcoin. For example, in July 2013, the SEC took legal action against a Ponzi program operator related to Bitcoin.

Tax risks
In March 2014, the IRS announced that all cryptocurrencies, including Bitcoin, would be taxed as an asset. Therefore, there is no legal way to protect Bitcoin earnings from taxes

This is just excuses that are used to justify regulation, because most of these risks are associated with normal Fiat transactions too. Roll Eyes

OK, we know the SEC has to protect the consumer and that Fiat based currencies and investment tools are highly regulated, so we should not expect Bitcoin to be exempt from these regulations, but are these regulations really suggested to protect the consumer or is it suggested to help the government to control their citizens and to earn more taxes. Roll Eyes

Let's hope the SEC handles these issues in the same way that they would handle any other technology that are not backed by the government. Sad

The SEC overregulates fiat currencies which is one of the reasons why BTC and being anonymous is so popular, most of the regulations that have been made in crypto are to put more money into the government's hands.