Eurpean union fudding crypto. Do we crash now?
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>tells normies crypto is risky because of its volatility
It's just the truth. Stop taking everything as fud, you weakhanded faggot.
EURO is weak as fuck and I don't see a reason why it wouldn't drop another 5% this year. They would fud pokemon cards if people started using them as currency. EU loves printing more money to "solve" problems.
read it faggot
ESMA, EBA and EIOPA warn consumers on the risks of Virtual Currencies
The European Securities and Markets Authority (ESMA), the European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA) (hereafter referred to as ‘the three ESAs’) are warning consumers on the high risks of buying and/or holding so-called Virtual Currencies (VCs).
The VCs currently available are a digital representation of value that is neither issued nor guaranteed by a central bank or public authority and does not have the legal status of currency or money. They are highly risky, generally not backed by any tangible assets and unregulated under EU law, and do not, therefore, offer any legal protection to consumers. The three ESAs are concerned by the fact that an increasing number of consumers buy VCs particularly with the expectation that the value of VCs will continue to grow but without being aware of the high risk of losing their money invested.
VCs such as Bitcoin, Ripple, Ether and many others have been highly volatile of late, meaning that there have been significant daily fluctuations in their prices. For example, the value of Bitcoin increased sharply in 2017 from around €1,000 in January to over €16,000 in mid-December and then fell almost 70% to €5,000 in early February. It has more recently recovered some 40% from the low, and is currently trading at around €7,000. The total market capitalisation of the 100 largest VCs is said to exceed the equivalent of €330 billion globally today.
Why is it risky for consumers to buy VCs?
The three ESAs warn consumers that VCs can be extremely risky and are usually highly speculative. If you buy VCs, you should be aware that there is a high risk that you will lose a large amount, or even all, of the money invested. When buying VCs, or financial products giving consumers direct exposure to VCs, you are exposed to a number of risks
Europeans are notorious cuckold who let in millions of migrants to fuck their wives
Why in the world would they want anyone to get rich?
>generally not backed by any tangible assets
What... exactly is the Euro backed by?
britbongs are the best recent example that by the same logic you shouldn't use fiat
Literally everything stated in this memo is true.
Crypto is high risk high reward game, it takes balls to play
>The price formation of [Bitcoin] is often not transparent. There is therefore a high risk that you will not receive a fair and accurate price when buying or selling [Bitcoin].
How can they even say this?
>What... exactly is the Euro backed by?
I'm sure you can just walk into... uhm... somewhere... and exchange it for gold. yeah, that's how this works.
60 iq? Since when is FUD and truth mutually exclusive, faggot?
>VCs remain unregulated under EU law. Similarly, exchanges where VCs are traded and digital wallets used to hold, store and transfer VCs are unregulated under EU law, too.
>implying this is bad
I will repeat once more: if the EU wants to steal half of they money from its citizens (and without them even knowing) they just print double the money. They can't just
"print" proof of work coins, that's the point.
So the only other options to steal the money form the people would instantly cause riots.
Cryptos go up 1000% and down 80% for no good reason.
The GBP crashed 15% because of a monumental political and economic transition.
Yeah, totally comparable.
How is it fud, you brainlet? Everyone already knows that. No crypto trader will sell his holdings because of this.
I truly hope this is the approach from the EU.
What it says in there is mostly true, education is important, I don't think anyone should put more than they can afford to lose neither, but this is a high risk high reward unregulated market, some coins are severely undervalued and "moon" precisely because people are skeptic, afraid, and only ride in once the bandwagon is at full speed
A market where everyone feels safe and confident is what happens with ICOs lately, 50k people in telegrams, complete selling out within minutes, and way less chance for moon missions, the real jewels are those that have way higher risk factors.
Taming cryptos would kill them, why would I invest in this market for low returns if I can buy stocks of already big companies? So education? Yes, fud? All they want, as long as they keep their hands out of it we'll be fine.
> implying that nocoiners remaining nociners doesn't affect crypto
>implying that anyone who even thinks about entering crypto doesn't know already that it is highly volatile
>implying anyone will read or give a fuck about this document
hate this shitty country
wouldn't that by definition be volatility?
UK was just an example. Another chart here. I don't see EU "educating" people about not holding savings in fiat. I don't see them warning about prices of houses in big european cities being a bubble. Everyone I know realises there's risk in crypto while most people don't believe me house prices can go down because the housing bubble is still going.
who even cares about the eu anyway?
the uk is leaving, and the rest of the states will crumble after being forced to open their borders to the subhuman rapefugees. countries will simply start ignoring EU directives long before any official end of the EU comes, they'll be forced to act.
EU is notoriously anxious, backwards, nanny state and anti freedom (because bad things will happen). Europes cup is always half empty. We always focua on the risk rather than the opportunity. Unfortunately my country is worst. Fuck socialist germany. Please nuke us.
ofc Veeky Forums don't care, we are talking about normies. Normies actually care about authorities, neckbeard
>I don't see them warning about prices of houses in big european cities being a bubble
Then open your eyes.
And no, volatility of first world currencies is not in any way comparable with cryptocurrencies.
No, they don't. No one reads these reports.
>does not have the legal status of currency or money
>you have to pay taxes after them
thanks for the link
still, countries where house prices went up 30%+ in 3 years not even mentioned and my normie friends still believe, quote "it's impossible for house prices to fall".
I also guarantee you if people started paying each other with ounces of gold / silver EU would release warnings about how dangerous holding precious metals is because, again, you can't "print" precious metals
The longer this market goes on, the more legitimacy it gains.
Regulations or attempts at are inevitable at a certain point, but I think we're long from the days of regulation FUD being able to seriously crash the market.
Eh the mountain jews seem to have good laws regarding ICOs so its not impossible.
Anyone one of several european countries could just make incredibly generous regulation and tax laws and they'd instantly become a larger hub that switzerland.
Its fucking dumb but the cultural marxists in govt dont quite know how to deal with crypto
true if big
How fucking dense do you have to be to think that these reports will not be used as fuel and legitimization for media fud. Fucking think one step ahead
Austria here ... when Urup fuds i'd doesn't matter jack as they are barely on the cryptomap ...
Fud wave is coming
>Eh the mountain jews seem to have good laws regarding ICOs so its not impossible.
>Anyone one of several european countries could just make incredibly generous regulation and tax laws and they'd instantly become a larger hub that switzerland.
>Its fucking dumb but the cultural marxists in govt dont quite know how to deal with crypto
If that happens, it will most likely be Estonia. There is a reason coinbase europe got a bank account in Talin.