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Bitcoin: Be prepared to lose all your money, FCA warns consumers

104 点作者 axihack超过 4 年前

19 条评论

cableshaft超过 4 年前
This is just: &quot;Don&#x27;t invest what you aren&#x27;t prepared to lose,&quot; which has been the advice for Bitcoin and other cryptocurrencies for a decade at this point.<p>The headline makes it sound like they&#x27;re threatening legal action or some sort of regulation, at least to me.
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nabla9超过 4 年前
Bitcoin speculation is an almost pure Keynesian beauty contest. <a href="https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;Keynesian_beauty_contest" rel="nofollow">https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;Keynesian_beauty_contest</a><p>As long as most people think everyone else thinks BTC is the prettiest girl, it can have substantial value and the sky is the limit.<p>It&#x27;s a pure speculation asset. You don&#x27;t need bitcoins to pay taxes. The value has a very weak link anchored to anything in the real economy (limited number of coins and the energy is meaningless nominal detail in this context).
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tebbers超过 4 年前
In London they are advertising bitcoin on the side of buses and in the Underground with the slogan &#x27;when you see bitcoin on the side of a bus, it&#x27;s time to buy&#x27;.<p>I thought that was outrageous and actually was a sign to sell. I mentioned this to a foreign exchange trader friend and we even finished each other&#x27;s sentence with the above!
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trident5000超过 4 年前
I find this hilarious when many European banks have lost 98% of their market caps and individual stocks have just as much volatility in many cases. Maybe the investor warnings should be more even.
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0xmarcin超过 4 年前
When I open this link in iPhone safari I get a strange popup about downloading 3887 something? Strange...
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permo-w超过 4 年前
This is incredibly frustrating, as, just before this massive spike in bitcoin’s value, I bought a significant amount of BTC using Coinbase. They took my money, then retroactively made it look like my (brand new) account had exactly the amount of debt that I had paid in, and now my account was at 0.<p>I sent in 2 support tickets and received no reply, so I resorted to a chargeback, presumably forfeiting any right to the BTC I purchased.<p>Just to add salt to the wounds, I now constantly see adverts for Coinbase<p>Avoid Coinbase like the Covid
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basdftrewq超过 4 年前
Bitcoin, always crashes:<p><a href="https:&#x2F;&#x2F;m.youtube.com&#x2F;watch?v=XbZ8zDpX2Mg" rel="nofollow">https:&#x2F;&#x2F;m.youtube.com&#x2F;watch?v=XbZ8zDpX2Mg</a>
janmo超过 4 年前
<i>Consumers should be prepared to “lose all their money” if they invest in products that promise high returns from cryptoassets such as bitcoin, the City watchdog has warned.</i><p>The HN title is misleading, it is more a warning against all the Bitconnect like ponzi scams that will popup and promise huge return by mining or trading Bitcoin.
farseer超过 4 年前
Is it fair game and legal to break into a wallet via cryptographic means alone? I mean without hacking someone&#x27;s computer&#x2F;storage to steal the private key that is.<p>I understand this is not realistic right now, but might be if someone has discovered new math or physics for example.
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dartharva超过 4 年前
The headline makes it look as if the regulators are out to ban crypto trading or liquidating (be prepared to lose <i>all</i> your money?!)
Jimmc414超过 4 年前
These HN bitcoin threads sure do garner a disproportionate amount of downvotes. My opinion and advice would be to stop listening to opinions and advice on Bitcoin do your own research and follow the money. <a href="https:&#x2F;&#x2F;bitinfocharts.com&#x2F;bitcoin&#x2F;explorer" rel="nofollow">https:&#x2F;&#x2F;bitinfocharts.com&#x2F;bitcoin&#x2F;explorer</a>
kolbe超过 4 年前
You should be prepared to lose all your money in any investment.<p>This PSA is a pretty lame scare tactic. Sure, BTC seems riskier than say AAPL stock, but both can go to zero. So, a PSA like this one seems like propaganda more than level-headed investment protips.
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stinkytaco超过 4 年前
This could really be said for any currency speculation. I expect crypto attracts more of this than other investment vehicles, but currency speculation and forex trading are insanely risky.
Triv888超过 4 年前
You can easily loose most of your money in stocks too... I just made $1k in stocks and $10k in crypto though...
EVa5I7bHFq9mnYK超过 4 年前
With dollars or pounds you are GUARANTEED to lose all your money, if you hold it long enough.
coldcode超过 4 年前
I was going to buy a bitcoin at 6K but thought it risky. Now I feel dumb.
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isthispermanent超过 4 年前
What a click-baity title. This isn&#x27;t worthy of the front page of HN
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cubano超过 4 年前
I have 0.75BTC locked away in an encrypted distributed Android wallet that I am unable to remember the password for.<p>I received this BTC from an amazing soul here on HN (again, THANK YOU so much for that blessing if you are reading this!) who, after I wrote up a blog post about how I was arrested <i>without any probable cause</i> in Las Vegas, so very generously sent it to me after asking if it could &quot;be of use?.&quot;<p>BTW, the end result of the bullshit arrest was I was released with time served and the felony possession charge dropped due to the improper nature of the arrest, which was all caught on the officers bodycam.<p>So at the time I read the email, I was literally walking down Fremont Ave. wondering where I was going to sleep that night (remember I had just been released from Clark County Detention Center) as my 34 nights in jail had made me lose everything I owned in the weekly place I had been renting. I was asked for a wallet address, so I quickly jumped on the playstore and dl&#x27;ed the first app with a good rating and was highly &quot;secure&quot;. At the time I thought he or she would send me $50-$100 TOPS, so imagine my surprise when 0.75 (at the time worth like $600) plopped into my wallet.<p>I must have fat-fingered the password entry, and of course I couldn&#x27;t remember the 12-word phrase that the app author pleaded with me to &quot;write-down and store in a safe, secure place&quot;..no matter I thought at the time because <i>of course</i> there must be a password-reset email&#x2F;text thing. right? RIGHT?<p>Well, no.<p>Alas, no happy ending here...I lost my very interesting and well-paying remote LAMP-development job working for a fast-growing company that was focused on lowering the overall cost to everyday people of filling drug prescriptions ( I know the irony of it all has not been lost on me ).<p>The owner was someone I really respected and was smart enough to know his systems needed a total re-design for security and performance reasons, and to be honest years later I still have not recovered, work-wise and economically, from that night I was illegally (not my opinion, the actual criminal court finding and its&#x27; legal outcome) arrest. I still hate the feeling I get in the pit of my stomach I get when I think of the bind I put him in...ugghhhhhhh.<p>So anyway...I still have the wallet safely stored away on an unencrypted USB (kind of late for that) that is physically locked away. I did contact the app author and fortunately for me, his app code was FOSS on github and I have the archive. Another fortunate item here is that I know I only used lowercase letters and the password was 12 char long.<p>At approx. $30k in value, it&#x27;s getting to the point where a concerted effort at cracking the damn thing is in order...however, I am personally very optimistic on the FV of BTC in particular and think I will hold off my attempts at cracking it until 1BTC=$100kUSD.<p>Finally...the main reason I wrote this up this long post was to ask the community if anyone here knows of any reputable services that crack wallets such as mine for a reasonable fee and that I can feel secure that they will not just steal the BTC if they do manage to open it?
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NicoJuicy超过 4 年前
I sold when unknowledgeable people talked about it and acted like they knew how it worked.<p>It was ~ 18 k then. I didn&#x27;t leave much on the table.
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