SEC (Security Exchange Commission) Chairman Jay Clayton warns about Bicoin and cryptos in general. "Social networks and global financial markets are hot on crypto-currencies and ICOs. "
As a reminder, the ICOs are the initial offers of coins. These come out of the ambient air or the resolution of a series of equations by computers.
"I hear stories of fortunes made or others being made. And we hear the same familiar refrain: 'this time it's different' ".
The boss of the SEC invites to ask questions about Bitcoin
First: Is the product legal?
Second: Is it subject to regulation?
Third: Are there rules to protect investors?
Fourth: Does the product sold to the uninitiated comply with these rules?
Fifth: Do those who create currencies have a license to do so?
Sixth: Are the markets fair for all stakeholders?
Seventh: Can prices on these markets be manipulated? [Answer: There are "whales" - big holders who can individually or collectively influence the courts at will, for no other reason than their "goodwill")?
Eighth: Can we sell when we want? [The answer is no, and for many reasons. These include bottlenecks in the platform, network disruption, the temporary absence of counterparts, and so on.
Ninth: Are there significant risks of theft, loss or piracy? [Answer: the examples are numerous and some even very recent. If you answer "no" to only 2 or 3 of these questions, you should not trust or attempt to speculate on cryptos.
So further question: why were the CBOE and the CME allowed to create derivatives on cyber-wind?
These questions are better targeted at the fraudulent reserve bank note -
which is printed out of thin air by a handful of elites (whales), who remove regulations so they can create infinite derivatives, and to boot, they use those funds to fund censorship, colour revolutions, terrorism, secret space programs, child trafficking , weapons of mass surveillance and destruction, and ofcourse their precious stock market.
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