J. Christopher Giancarlo of CFTC Saves Crypto Market - Bull Run Coming! - U.S. Supports Crypto
February 7, 2018
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10:29Now PlayingJ. Christopher Giancarlo of CFTC Saves Crypto Market - Bull Run Coming! - U.S. Supports Crypto
YouTube Description
as posted by the channelGiancarlo is chairman of the United States Commodity Futures Trading Commission (CFTC)
He mentioned his kids were not interested in stocks but are hooked onto cryptocurrencies, and the government has to respect that, and develop a positive outlook.
While scams and fraudsters must be cracked down, the general market must be allowed to develop. A working group of SEC, FINCEN, CFTC and other group members are working on identifying scams in this space.
When asked if Crypto has any "intrinsic value"? - There is an intrinsic value and relation of the value of bitcoin and the cost of mining it.
Price of Bitcoin is just one publicly traded company like McDonalds. In comparison, global money supply is 7.6 Trillion. And since Bitcoin has been compared to digital gold, value of all gold in the world is 8 Trillion.
He just mentioned "HODL".. a LOL moment - According to him its "Hold on for dear life".
"We must crack down hard on those who abuse our young enthusiasm for bitcoin and blockchain technology"
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Disclaimer - Thinking Crypto and Tony Edward are not financial or investment experts. You should do your own research on each cryptocurrency and make your own conclusions and decisions for investment. Invest at your own risk, only invest what you are willing to lose. This channel and its videos are just for educational purposes and NOT investment or financial advice.
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