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Topic: Bank of England warns against Cryptos - page 4. (Read 610 times)

member
Activity: 267
Merit: 10
July 01, 2018, 09:29:49 AM
#57
crypto is a revolution. Since this is a revolution, it will certainly be suppressed. Last year, China issued a ban on cryptocurrency trading in the country, but just a few days ago, the People's Bank of China decided to issue its own cryptocurrency. I think the influence of the Bank of England is not as great as the People’s Bank of China. So I'm still optimistic about crypto.
sr. member
Activity: 1022
Merit: 264
July 01, 2018, 09:17:44 AM
#56


The Bank of England sent a clear warning:

Sam Woods, the Bank of England deputy governor responsible for financial supervision said that “in their short history, crypto-assets have exhibited high price volatility and relative illiquidity.”

Writing in a letter to the chief executives of banks and insurers he said: "Crypto-assets also raise concerns related to misconduct and market integrity – many appear vulnerable to fraud and manipulation, as well as money-laundering and terrorist financing risks.”

https://www.express.co.uk/finance/city/981330/Bitcoin-price-barclays-ripple-cryptocurrency-ethereum-BTC-to-USD-XRP-news

Really ? Fiat money have more laundering and terrorist financing risks ... So it means we should not use Fiat money at all ? There always will be fraud and manipulation everywhere . They all keep saying same thing for years . Its nothing new
legendary
Activity: 1988
Merit: 1768
July 01, 2018, 09:12:56 AM
#55
The Bank of England sent a clear warning:

Sam Woods, the Bank of England deputy governor responsible for financial supervision said that “in their short history, crypto-assets have exhibited high price volatility and relative illiquidity.”

Writing in a letter to the chief executives of banks and insurers he said: "Crypto-assets also raise concerns related to misconduct and market integrity – many appear vulnerable to fraud and manipulation, as well as money-laundering and terrorist financing risks.”

https://www.express.co.uk/finance/city/981330/Bitcoin-price-barclays-ripple-cryptocurrency-ethereum-BTC-to-USD-XRP-news

Such warnings have been issued several times by other banks and people. I will continue to ignore such hints and recommend everyone not to let such hints drive you crazy. There are worse things that can happen than this message from a bank. There will always be people who are against crypto and will talk it badly.  Wink
newbie
Activity: 266
Merit: 0
July 01, 2018, 09:03:07 AM
#54
Thank you for the news. I think is not good at all. I don’t know why bank of England did this. But I think they are just afraid of cryptocurrencies progress. I hope someday they will accept cryptocurrency and understand the advantages of cryptocurrency.
full member
Activity: 504
Merit: 102
June 30, 2018, 05:59:22 PM
#53
This must be another FUD that might trigger most of the investors to pull out their money out from the basket,which is why we should be expecting another bearish trend.If these news are real we should be able to get our money from the market,so that the damages that we'll get will be minimal.


That is only a clear warning shot that warns the banking system and the market to aware cryptocurrency exchange if the value of bitcoin continues dropping below $5000 USD. But mentioning another bearish trend that is hard to predict as the value of market now a days are surging $6K to $7k.
full member
Activity: 574
Merit: 100
June 30, 2018, 05:55:23 PM
#52


The Bank of England sent a clear warning:

Sam Woods, the Bank of England deputy governor responsible for financial supervision said that “in their short history, crypto-assets have exhibited high price volatility and relative illiquidity.”

Writing in a letter to the chief executives of banks and insurers he said: "Crypto-assets also raise concerns related to misconduct and market integrity – many appear vulnerable to fraud and manipulation, as well as money-laundering and terrorist financing risks.”

https://www.express.co.uk/finance/city/981330/Bitcoin-price-barclays-ripple-cryptocurrency-ethereum-BTC-to-USD-XRP-news

Still, such news affect the market as a whole! It is possible that in such countries will be cryptocurrency is prohibited. ICO in the us is prohibited! China also banned bitcoin. Just the most interesting thing, Russia on the contrary wants to legalize the cryptocurrency!
i do not think that such a situation is going to daty forever, and sooner or later counries will accept cryptocurency world, i hope
full member
Activity: 574
Merit: 100
June 30, 2018, 05:54:40 PM
#51


The Bank of England sent a clear warning:

Sam Woods, the Bank of England deputy governor responsible for financial supervision said that “in their short history, crypto-assets have exhibited high price volatility and relative illiquidity.”

Writing in a letter to the chief executives of banks and insurers he said: "Crypto-assets also raise concerns related to misconduct and market integrity – many appear vulnerable to fraud and manipulation, as well as money-laundering and terrorist financing risks.”

https://www.express.co.uk/finance/city/981330/Bitcoin-price-barclays-ripple-cryptocurrency-ethereum-BTC-to-USD-XRP-news
well there is nothing surprisingly unusual in it there are many countries which not only warn, biut ehoch forbid cryptocurrencies
full member
Activity: 420
Merit: 100
June 30, 2018, 05:53:36 PM
#50


The Bank of England sent a clear warning:

Sam Woods, the Bank of England deputy governor responsible for financial supervision said that “in their short history, crypto-assets have exhibited high price volatility and relative illiquidity.”

Writing in a letter to the chief executives of banks and insurers he said: "Crypto-assets also raise concerns related to misconduct and market integrity – many appear vulnerable to fraud and manipulation, as well as money-laundering and terrorist financing risks.”

https://www.express.co.uk/finance/city/981330/Bitcoin-price-barclays-ripple-cryptocurrency-ethereum-BTC-to-USD-XRP-news

Still, such news affect the market as a whole! It is possible that in such countries will be cryptocurrency is prohibited. ICO in the us is prohibited! China also banned bitcoin. Just the most interesting thing, Russia on the contrary wants to legalize the cryptocurrency!
newbie
Activity: 40
Merit: 0
June 30, 2018, 05:44:55 PM
#49
oh yeah thanks for the info you gave, maybe this is what makes the market has decreased in price lately, but believe me bad newa only have temporary effect, after this crypto will be huge again and rising to the moon, good crypto for long term.
member
Activity: 224
Merit: 10
Stable coin to make charity free for everyone
June 30, 2018, 05:44:29 PM
#48
This must be another FUD that might trigger most of the investors to pull out their money out from the basket,which is why we should be expecting another bearish trend.If these news are real we should be able to get our money from the market,so that the damages that we'll get will be minimal.
sr. member
Activity: 518
Merit: 250
June 30, 2018, 05:40:28 PM
#47
The main reason for such an impressive instability is that people do not know what to expect from a crypto currency. The increase in demand is affected by the smallest trifle, which increases the attractiveness of crypto currency in the eyes of the consumer.
Similarly, the slightest and most natural depreciation of the exchange rate can provoke a disproportional decrease in demand. Then the crypto currency will start to fall, in fact, without any reason at first sight. Then, of course, it will grow again, if in itself is in demand. However, the fact of the fall will be fixed, and it, together with the subsequent growth, will determine that high volatility, which analysts say.
newbie
Activity: 63
Merit: 0
June 30, 2018, 05:27:07 PM
#46
I doubt about the authenticity of the news and I think thus is a fud. An attempt to spread some negativity on crypto. Market is already bearish. Please don't spread such fake news and negativity, this can have severe affect on market.
member
Activity: 406
Merit: 11
Until the end of time
June 30, 2018, 05:06:46 PM
#45
This is discouraging to the crypto space and a bad news to the cryptos but the truth is that we have heard news worst than this in the past but cryptos still survives, So no amount of discouragement will make people to quit cryptos entirely. If cryptos is that bad, why is that big institutions are investing huge amount into cryptos? Think about it and stay positive, everyone must not support cryptos, banks are against it because of what they stand to lose when cryptos go main stream.
newbie
Activity: 29
Merit: 0
June 30, 2018, 04:58:03 PM
#44
Thinks get worse by the day!
Check coinmarketcap, coingecko, there is nothing call better or good at this moment.
newbie
Activity: 24
Merit: 0
June 30, 2018, 04:56:02 PM
#43
Of course it's volatile and illiquid. But it won't always be.
hero member
Activity: 3080
Merit: 603
June 30, 2018, 04:54:23 PM
#42
He's about crypto's are high volatile so what's new about this news? are they the first timers who called crypto's that way? no.

This is not the first time news like this will be published. Cryptocurrency has always been surviving it. Those banks are being jealous and cautious of this competitor called crypto
Exactly and I don't why this guy is taking this personally or he is just posting something that he wants to.

Expect that bankers won't be an ally for crypto's and they will always be mad at us.
full member
Activity: 560
Merit: 100
June 30, 2018, 04:50:52 PM
#41
It does not say anything. Treat this simply as a private opinion of a bank official and no more. This does not mean that the whole banking system thinks so.
jr. member
Activity: 266
Merit: 1
June 30, 2018, 04:50:29 PM
#40
Another stupid news. Another person expressed his own point of view. To which many do not care. Since many people say something to the country, there is danger and more threats. Who are waiting for us when working with the crypto currency. And they themselves do not even understand what blockage is. We are managed by a dork swap.
legendary
Activity: 2128
Merit: 1656
June 30, 2018, 04:50:09 PM
#39
Only trolls, state actors or paid propaganda artists who are the enemy of free people can take the words of central bankers or state officials seriously.

The staggering majority of intelligent people with reasonable awareness of how the world functions are now trusting technocrats and free intellectuals much greater than any

bank or state chairman.
member
Activity: 308
Merit: 10
Buy, sell and store real cryptocurrencies
June 30, 2018, 04:49:06 PM
#38
This is extremely unfavorable for the Crypto market, thus reducing the amount of participants and coming to Crypto. I do not think there is any power that can counter Crypto.
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