2013-07-04 contrariancompliance.com: Winklevii Warn Bitcoin May Become Illegal

juanbllanos

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Quote from: odolvlobo on July 05, 2013, 11:02:58 AM

Quote from: juanbllanos on July 05, 2013, 12:52:53 AM

Quote from: solex on July 04, 2013, 09:22:45 PM

Quote from: CurbsideProphet on July 04, 2013, 05:52:29 PM

Total non-story. Read any company's SEC filing and you will find a laundry list of potential risks (both real and far fetched). This is nothing more than the twins and their lawyers doing some CYA disclosures.

Absolutely correct. The OP is FUD as the SEC filing has to include warnings for investors. Cryptocurrency is new so there are many unknowns. Similar warnings must have accompanied the PartyPoker float, with respect to online gambling. Indeed any completely new business has the risk of a heavy-boot regulatory response.

Is it really that common to see a prospectus warning that the asset investors will be betting on may become illegal? I'd be happy to see other examples. That was my only point.

I agree. While there is nothing new (to us, at least) about the challenges that Bitcoin faces and the laundry list of risks is typical, a security traded on a major exchange that lists illegality as a risk is noteworthy.

Thanks, Odolvlovo.

polarhei

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Firing it up

Bitcoin is still legal due to the registered exchange act. I think the report is too nervous. If you like to know the detail, You, better read FinCEN's note.

freedomno1

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Learning the troll avoidance button :)

Quote from: odolvlobo on July 05, 2013, 11:02:58 AM

Quote from: juanbllanos on July 05, 2013, 12:52:53 AM

Quote from: solex on July 04, 2013, 09:22:45 PM

Quote from: CurbsideProphet on July 04, 2013, 05:52:29 PM

Total non-story. Read any company's SEC filing and you will find a laundry list of potential risks (both real and far fetched). This is nothing more than the twins and their lawyers doing some CYA disclosures.

Absolutely correct. The OP is FUD as the SEC filing has to include warnings for investors. Cryptocurrency is new so there are many unknowns. Similar warnings must have accompanied the PartyPoker float, with respect to online gambling. Indeed any completely new business has the risk of a heavy-boot regulatory response.

Is it really that common to see a prospectus warning that the asset investors will be betting on may become illegal? I'd be happy to see other examples. That was my only point.

I agree. While there is nothing new (to us, at least) about the challenges that Bitcoin faces and the laundry list of risks is typical, a security traded on a major exchange that lists illegality as a risk is noteworthy.

Makes for great popcorn drama and just another day in the stock market

odolvlobo

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Quote from: juanbllanos on July 05, 2013, 12:52:53 AM

Quote from: solex on July 04, 2013, 09:22:45 PM

Quote from: CurbsideProphet on July 04, 2013, 05:52:29 PM

Total non-story. Read any company's SEC filing and you will find a laundry list of potential risks (both real and far fetched). This is nothing more than the twins and their lawyers doing some CYA disclosures.

Absolutely correct. The OP is FUD as the SEC filing has to include warnings for investors. Cryptocurrency is new so there are many unknowns. Similar warnings must have accompanied the PartyPoker float, with respect to online gambling. Indeed any completely new business has the risk of a heavy-boot regulatory response.

Is it really that common to see a prospectus warning that the asset investors will be betting on may become illegal? I'd be happy to see other examples. That was my only point.

I agree. While there is nothing new (to us, at least) about the challenges that Bitcoin faces and the laundry list of risks is typical, a security traded on a major exchange that lists illegality as a risk is noteworthy.

ProfMac

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Quote from: Viscera on July 04, 2013, 01:08:18 PM

What BS. I'm amazed there are people still Dum enough to buy paper promises of gold, let alone BTC. Why would you buy a promise for the same price as having your own? I hope they make a fortune and then go bust, people foolish enough to buy paper promises deserve nothing.

Because I can buy bitcoin with my IRA / 401(k)

solex

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100 satoshis -> ISO code

Quote from: juanbllanos on July 05, 2013, 12:52:53 AM

Quote from: solex on July 04, 2013, 09:22:45 PM

Quote from: CurbsideProphet on July 04, 2013, 05:52:29 PM

Total non-story. Read any company's SEC filing and you will find a laundry list of potential risks (both real and far fetched). This is nothing more than the twins and their lawyers doing some CYA disclosures.

Absolutely correct. The OP is FUD as the SEC filing has to include warnings for investors. Cryptocurrency is new so there are many unknowns. Similar warnings must have accompanied the PartyPoker float, with respect to online gambling. Indeed any completely new business has the risk of a heavy-boot regulatory response.

Is it really that common to see a prospectus warning that the asset investors will be betting on may become illegal? I'd be happy to see other examples. That was my only point.

OK. Sorry. I really meant the headline for the article which you had to quote in the OP. The Ws were obliged to make the warning which people will (and are) taking right out of context.

I found a reference to the partypoker IPO which I had in mind for a similar example:

"Their prospectus issued on Wednesday stated that their activity may be considered illegal in the US and "There is a significant risk that criminal or civil judgments may be sought against the group of directors."

http://blog.pokerwords.com/2005/06/party-poker-ipo-again.html

juanbllanos

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Quote from: solex on July 04, 2013, 09:22:45 PM

Quote from: CurbsideProphet on July 04, 2013, 05:52:29 PM

Total non-story. Read any company's SEC filing and you will find a laundry list of potential risks (both real and far fetched). This is nothing more than the twins and their lawyers doing some CYA disclosures.

Absolutely correct. The OP is FUD as the SEC filing has to include warnings for investors. Cryptocurrency is new so there are many unknowns. Similar warnings must have accompanied the PartyPoker float, with respect to online gambling. Indeed any completely new business has the risk of a heavy-boot regulatory response.

Is it really that common to see a prospectus warning that the asset investors will be betting on may become illegal? I'd be happy to see other examples. That was my only point.

BitChick

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Quote from: juanbllanos on July 04, 2013, 10:58:30 PM

Quote from: Akka on July 04, 2013, 12:56:05 PM

Proper Title formating please. Look at the title in my post.

Thanks for the feedback. Will follow the guideline in future.

Umm. You can edit your title and put in the date anytime FYI.

juanbllanos

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Quote from: Akka on July 04, 2013, 12:56:05 PM

Proper Title formating please. Look at the title in my post.

Thanks for the feedback. Will follow the guideline in future.

kiba

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Sent PM For date fixage.

dwdoc

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- - -Caveat Aleo- - -

Quote from: Viscera on July 04, 2013, 01:08:18 PM

What BS. I'm amazed there are people still Dum enough to buy paper promises of gold, let alone BTC. Why would you buy a promise for the same price as having your own? I hope they make a fortune and then go bust, people foolish enough to buy paper promises deserve nothing.

You mean "Dum" paper like currency, stocks and bonds?

solex

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100 satoshis -> ISO code

Quote from: CurbsideProphet on July 04, 2013, 05:52:29 PM

Total non-story. Read any company's SEC filing and you will find a laundry list of potential risks (both real and far fetched). This is nothing more than the twins and their lawyers doing some CYA disclosures.

Absolutely correct. The OP is FUD as the SEC filing has to include warnings for investors. Cryptocurrency is new so there are many unknowns. Similar warnings must have accompanied the PartyPoker float, with respect to online gambling. Indeed any completely new business has the risk of a heavy-boot regulatory response.

freedomno1

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Learning the troll avoidance button :)

So fear rally
Sneaky Winklevii Sneaky
So they can own more than 1% lol

CurbsideProphet

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Total non-story. Read any company's SEC filing and you will find a laundry list of potential risks (both real and far fetched). This is nothing more than the twins and their lawyers doing some CYA disclosures.

kjlimo

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Quote from: vokain on July 04, 2013, 02:15:30 PM

Quote from: Bitcopia on July 04, 2013, 01:20:26 PM

Warning that bitcoin may become illegal as a precedent to buying an ETF is like warning that people might crash their cars into yours as a precedent to buying a new car.

I'm failing to see the "news" in this...

The news is just reporting what the public wants to hear, despite how irrelevant it is to the actual matter at hand.

Perhaps this is why I've been able to buy such cheap bitcoins on CampBX this past week?

Gotta love gobbling up these double digit coins.... here we come 4 digits!

vokain

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Quote from: Bitcopia on July 04, 2013, 01:20:26 PM

Warning that bitcoin may become illegal as a precedent to buying an ETF is like warning that people might crash their cars into yours as a precedent to buying a new car.

I'm failing to see the "news" in this...

The news is just reporting what the public wants to hear, despite how irrelevant it is to the actual matter at hand.

superduh

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i also heard that someday internet may be illegal as well just like it is in north korea

Bitcopia

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Warning that bitcoin may become illegal as a precedent to buying an ETF is like warning that people might crash their cars into yours as a precedent to buying a new car.

I'm failing to see the "news" in this...

Phinnaeus Gage

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Bitcoin: An Idea Worth Spending

Quote from: Viscera on July 04, 2013, 01:08:18 PM

What BS. I'm amazed there are people still Dum enough to buy paper promises of gold, let alone BTC. Why would you buy a promise for the same price as having your own? I hope they make a fortune and then go bust, people foolish enough to buy paper promises deserve nothing.

PlanetaryJim comes to mind.

Viscera

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What BS. I'm amazed there are people still Dum enough to buy paper promises of gold, let alone BTC. Why would you buy a promise for the same price as having your own? I hope they make a fortune and then go bust, people foolish enough to buy paper promises deserve nothing.

Topic: 2013-07-04 contrariancompliance.com: Winklevii Warn Bitcoin May Become Illegal (Read 2028 times)