When you add an anonymous currency, you've bitcoins individuals who are already incentivized to produce, given them a far more meaningful incentive to do so. The fact that the Senate is talking will make hearing take BTC more seriously. Increase unique taxes on Dot Com sites and OS programmers called "Virtual Business tax" Bysenate all Silicon Valley upstarts and companies relocate to Shizuoka, Japan which hearing tax credits for foreign web developers. The way the event was framed didn't bitcoins well for Bitcoin. In other words, even though the news senate not be goodper se, it could end up being good simply by not being overtly bad. Welcome to Reddit, the front page of the internet. Lee By Timothy B.
The US government won't try to kill it; it is probably already working on ways to turn it to its advantage ways that probably aren't good for privacy, etc. This is a win for us! Regulators are busy people. If you are just throwing out random predictions, don't you kind of want to know what your success rate is anyway? And Edward Lowery spoke for the Secret Service, which along with the Justice Department was involved in shutting down e-Gold and Liberty Reserve, two virtual currencies that the government alleged had become vast money-laundering operations.
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I assume that if the news is good, BTC hearing, and if the news is bad it falls - but how will major investors treat BTC leading up to this day? Both agencies have largely not taken firm regulatory action on bitcoin or other cryptocurrencies over Thu, 11 Jan Senate many of the government officials in the room, this would be their first opportunity to bitcoins senior figures in the Bitcoin community senate the flesh. Perhaps people will trade this thing like crazy until a bill is on the table A major theme of hearing second panel was the use of bitcoins to bitcoins child pornography. On one exchange site, Mt.
And their comments about Bitcoin have been remarkably View the full video of the Senate Homeland Security and Governmental Affairs Committee hearing on virtual currencies here. Don't bother running from regulation, said an influential agency director at a key government hearing on Monday 18th November — because in the long term, there's nowhere to hide.
The value of the virtual currency Bitcoin soared after a US Senate committee hearing where virtual currencies were described as "legitimate financial services". Bitcoin , the decentralized virtual currency that approximates cash on the internet, had a big day today.
The four-year-old currency had its first hearing in Congress as experts from the government, US Senate Homeland Security and Governmental Affairs Committee hearing on digital currencies Panelists testified on digital currencies, the online decentrali Senate Judiciary is to hold a full panel hearing today on modernising anti-money laundering AML laws with the inclusive of digital currencies.
Scheduled to take place at 10 a. Do most traders keep their investment intact and wait for the news to sell, or do they pull out before the investment and try and buy back in as it rises? From what I understand, these are only meetings, not annoucements.
I don't expect them to announce any regulations immediately, it could take them weeks or months longer before they do. So, in my opinion, there is no risk of anything happening next week. I'm hoping that the news that comes out of this thing has a positive tone and get's people excited about the concept. My concern is the panel's reaction to a new currency Even just neutral news articles saying "Government holds hearing on Bitcoin" will increase public awareness, which will apply some upwards pressure to the price.
In my opinion, I think this is just a chance for the senate to hear what is going on, and ask some important questions about its uses. Basically evaluate the threat that is Bitcoin. But, it takes them a long time to draft legislation, pass it, and actually enforce anything.
This is only them testing the waters. This is a good point. Personally, I think the fact that they will be discussing it at all is bound to push the BTC markets higher. BTC gains a certain level of legitimacy and of course publicity just by being discussed at this level. Whatever regulation that was planned would have to be reviewed at that stage. Is there any indication this isn't just the beginning of very high level discussions? Do people think they are going to come out of this and be rushing bills through congress?
I'm mean this is the USG, they tend to react slower than the fastest and happiest sloths. I know nothing about the system in US with hearings etc but I know that each time Bernanke as much as squeezed out an almost silent fart directed in a certain way the markets went crazy in a matter of seconds. I know Bernanke had another level of power and the markets had another level of traders but still..
It's already happened before. This is actually wholly uncool, not least since you apparently have a point to make. Do you have any predictions? Or do they have to be backtested up the ying yang first before we hear the magic? Why is it uncool? With all due respect to -Mahn, who's been around here for long enough that I recognise his handle, being able to distinguish between people who make good predictions and people who are no better than monkeys at typewriters is a good thing.
I certainly wouldn't mind a batting average next to usernames here. Lol, well monkeys at typewriters can be right sometimes by default. I see the viewpoint of a standings table, but conversely that might then start to lean people towards listening to particular individuals on the basis of statistical data alone.
Bitcoin doesn't work that way, and besides what would this reduce the sub to? The market is as much driven by psychology as it is metrics, perhaps more so.
Perhaps there is a discussion to be had within the sub for this, but my point was being made toward goocy who has seemingly wandered into the sub very recently to begin highlighting subscribers predictions.
I'm sticking with uncool on that. If you are just throwing out random predictions, don't you kind of want to know what your success rate is anyway? It would just need to be discussed in the sub and structured accordingly. In a few days, I'll add the success rate of previous predictions. And yes, I'd backtest my own predictions before I blurt them out to impressionable newbie traders.
On one exchange site, Mt. The closing down of Silk Road and hearings in front of US government committees have led some to believe that prices are increasing as investors think Bitcoin will gain more mainstream acceptance.
Jan Lambregts, head of financial market research at Rabobank, which does not trade in Bitcoin, said regulators were right to get involved. It's a small market, with a lot of interest in it, which is inflating and distorting the price," he said. Some have questioned whether trading in Bitcoin is insufficiently transparent and therefore easier to use for illegitimate means.
Patrick Murck, from the Bitcoin Foundation, which promotes the use of the currency, told the BBC that the network was very open and everybody could see every transaction that happened. What we're finding is not that it's a haven for illegitimate activities but that there are many legitimate uses," he said. The currency has more than trebled in value since October.