FTX collapse - First Impressions count

It is amazing how many - often sophisticated and highly intelligent - market professionals disregarded the warning signs. When meeting new people the old saying 'First impressions count' is more often than not correct. In the case of the Wunderkind Bankman-Fried my alarm bells went off the first moment I saw his photo in the media. Naturally one should not judge by outside appearance only, but at least one should take this always into consideration.
FTX collapse

Bitcoin: Regulators wash their hands - too long for some?

While some are supposed to have become rich due to the wonders of the digital "currency" hype one should remember that this is a giant ponzi scheme where the lucky few owe their winnings to the late-comers who splash out serious money in order to get hold of one ephemeral electronic bit - wherever that is. A chain letter at least gives you a piece of paper to put on your wall. Where are the regulators, why are they busy concocting ever more intrusive regulations that hardly serve any purpose except increasing costs for ordinary savers? Should they not at least apply the rules for the digital space?
CNBC

Bitcoins: The drumbeat goes on

The drumbeat goes on, any number of self-appointed 'experts'  push bitcoin etal, still not clear what 'value' it has or provides, just question of time that regulators impose restrictions, to market, buy/sell it through traditional banking channels unless full 'know your customer' disclosure is made. and who REALLY needs bitcoins, internet banking is so efficient already! Price easily manipulated due to complete lack of transparency, and who are the idiots that pay $10,000 for a bit with REAL money?
Here's why not to put your money into bitcoin (Evening Standard)

Super High Margins required on Bitcoin Futures

In my opinion the collateral required to back up futures trading - but also all over-the-counter derivatives trading - is way too low and not sufficient to withstand a market crash like the one in October 1987 or during the GFC (Great Financial Crisis).
2%, even 8% margin as suggested in this article are never going to be sufficient when markets move 10, 20 per cent of more within days.
The outcome can only be described as truly catastrophic, not only for market participants, but for society and the economy as a whole. It would drive a stake right through the heart of Capitalism.
Why Interactive Broker's Founder fears Bitcoin Futures (Barron's, Pay Wall)

Bitcoin: What is the Value of Hot Air?

Let self-interested promoters and their acolytes in the Media invest their hard-earned savings in a bit of (hot) air, or better: some digits in a far-away computer that nobody controls. Shares (hopefully) pay dividends, bonds pay interest, land can be rented out, but bitcoins and the like? Nothing but the hope of finding a Greater Fool down the road.
And Bitstamp, a 'digital currency exchange', should it not be banned from calling itself as an exchange by the SEC and fellow regulators? No surprise that its chairman sings the praises of 'crypto' 'currencies' (their are neither crypto nor currencies, you might as well start paying your groceries with some rare shells)
CNBC

Russia To Ban Cryptocurrency Sales To "Ordinary People"

Rightly so, time our often over-reaching regulators wake up to this charade, and please don't call these 'Coins' a 'Currency', they are neither coins nor currencies but should be relegated to the game universe.
Russia Backpedals On Bitcoin - Unveils Plan To Ban Cryptocurrency Sales To "Ordinary People"

Bitcoin Hype - Regulators asleep or afraid

Given the thousands of pages of detailed regulation that has been produced in all major industrial countries one has to wonder why the Regulators are keeping stumm about the Bitcoin craze. Claims that thses 'coins' are Digital 'Currencies' are clearly misleading (try selling a 'Digital House', or a 'Digital' Brooklyn Bridge). Neither are they a safe haven, they are digital assets and given the way they are offered and promoted they are investments and as such should be brought under regulatory umbrellas.
(22-Aug-2017)
The price of Bitcoin and Ethereum is slipping but Bitcoin Cash is rising

Bitcoin hype - stop calling it a 'Currency'

Tulips, Tulips anyone, or maybe you want to buy a Bridge? Play the hype but please stop calling Bitcoin a currency. All sorts of stuff served as currency at one time (shells, salt for example) but currency is what is generally accepted in payments at the time. So Gold is no longer a currency, neither are shells or salt.
Bitcoin hits another record high, value has risen over $15 billion in one week alone

London the global Bitcoin Hub?

Pull another one would be my first and only reaction. I may be of the wrong generation but would still stake my reputation on the fact that this will end badly. In an age where Central Bankers are close to act like petty criminals and steal money from Savers all over the World it is unlikely that a Bitcoin will ever provide a reliable store of value. A gambling chip maybe, and we all know that people want the excitement of rolling the dice, even if statistically they are playing a losers game.
London stakes its claim as global bitcoin hub (Reuters)