The UK’s financial regulator has warned against investing money in cryptocurrencies such as bitcoin, as they lack assets to guarantee their value and are therefore unsecure.
Bitcoin and over 4,000 of its alternatives have no assets or guarantee to support them, unlike hard currencies such as the dollar or the pound. These are backed by the government that issues them, a characteristic that digital money cannot boast, the British regulator concludes.
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Bitcoin Itself Is the guarantee.
It is the Digital Gold by itself no need for a proxy or a printed manipulated peg :)) thanks
nail on the head :)
"... backed by the government..."
Oh! How trust worthy! Hahaha...
Free Cryptos , let's go! ;)
That's right man! Trust the government? Ask a indigenous how that worked for us and reservations... 3rd world countries inside the usa
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Yaa man, gotta watch out!
lol I remember the time I had cannabis in my vehicle and spent 5 days surrounded by dangerous criminals to have how serious of a crime drugs are, to later have my Prime Minister legalize Cannabis. #cryptoisnotacrime
Kind of laughable actually.
It really is! I'm dieing of laughter!
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To lol or not to lol, that is the question.
Fiat currency has no intrinsic value too. Steem have!
lol then they realize the value of a peer to peer network, im sure this is just like torrents lol people will keep buying the movies (paying the taxes) because they respect the stars (banks and FED) right?
Stop trying to tax them then.
lol pretty much
Buy us Fuck you! And yeah fiat has no value.. The dollar or pound isn't backed by anything but trust... And police...
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lol I love steem, i dont have to talk shit about the dollar or the manipulation. What a joke humanity has become, the Chinese people who started pressing gold and silver would be turning in their grave.
I agree!
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The only things that have intrinsic value are food, shelter, water, and energy.
#iusecrypto #cryptoisnotacrime
#IUseCrypto #CryptoIsNotACrime
http://cryptoisnotacrime.org/