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  • do you think that there will be a point where a government, whether the U.

  • S.

  • Government or Bank of England, someone else is able to slow down the pace of growth, you know to just pull a massive restriction or do you think that this really is unstoppable that it won't be able to pull it back 30%.

  • Well, china is kind of doing it now until they get their stuff sorted out with the central bank digital currency.

  • Again, I don't think their intent is to get rid of Bitcoin is to clean it up.

  • They've got wild speculation going on.

  • They they've already they've got a problem with their private sector shadow lending markets anyway.

  • And crypto is being used for it also they've got a problem with money going offshore.

  • So they're just trying to just say right, stop everybody.

  • We want to get this organized so we can deal with it.

  • I think we will see that periodically.

  • Um you know, we haven't seen in D.

  • five but that's coming and isn't because there's no disclosure of risks and stuff like that.

  • Now.

  • The question is I saw Gary Gensler yesterday, the new head of the sec talking about risk and I'm struggling to see why we understand there's a lot of scams in the space and things need to be, there needs to be a hurdle.

  • But why should somebody restrict somebody from the opportunity to make money?

  • Yeah in the U.

  • S.

  • You have this term accredited investor.

  • So I'm accredited investor.

  • So I get to do anything I want to make as much money as I want and lose as much money as I want, but somebody else is not allowed to.

  • So you're perpetuating the 99%, this is the 1%.

  • Even though you're trying to do the right thing, we need to change this.

  • Now, we've seen some of the rules on crowdfunding change.

  • We've seen some of the rules on who can invest in startups.

  • Most cryptocurrencies are basically real time mark to market venture capital bets.

  • We just need to teach people how to take risk, not stop them taking risk and humans are gamblers.

  • If they want to gamble, they will gamble, they'll gamble on the horses, the gamble on the football, the gamble on anything.

  • So if you think that by regulating who can invest in cryptocurrencies, you're not going to stop gambling, you're gonna stop gambling, crypto just go somewhere else.

  • It's ludicrous.

  • So they need a better understanding really of what is going on.

do you think that there will be a point where a government, whether the U.

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B1 gamble risk gambling crypto investor cryptocurrencies

Raoul Pal On The Government Slowing Down Crypto and Risk Taking ??

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    林宜悉 posted on 2021/08/18
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