Did someone whisper the word ‘Brexit’? The UK is making noises about a possible ban on Bitcoin, in some way, shape or form, almost at exactly the same time as US lawmakers just realised it’s not actually possible to ban it. I do like the way the market is responding.
Of course, this FUD is all under the guise of ‘investor protection’. Perhaps the fear of Brexit and economic crisis and a subsequent surge in the price of Bitcoin, is causing some anxious representatives to get restrictions or regulations ready.
The reality is that Bitcoin has become somewhat of a benign disease, virus, an almost spiritual symbol of rebellion, revolution… the people’s money. It’s all too late now to doubt it, although it may one day be surpassed by the sheer utility of other coins. This is perhaps more likely, that it may lose value to another coin with similar inherent properties. Or else, Bitcoin may inherit some much-needed upgrades thanks to the continual experimentation going on within altcoin projects.
It’s actually more likely in due course that the UK will introduce some decent regulation that will ultimately benefit the entire space, despite any short-term impacts on the market. The SEC is even running nodes now.
Sorry, but this guy spells it out again, layer by layer…. It must be that inherent (not intrinsic) value thing again!