5 years ago
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Federal Reserve Says 2018 Bear Market Was Caused By CME’s Bitcoin Futures Offering
While many people had glossed over this little-known statement released by the Federal Reserve earlier this year (in May), but according to the letter, the government body blamed the launch of Bitcoin futures markets on the Chicago Mercantile Exchange (CME) for adversely affecting the overall value of Bitcoin (as well as many other alt-assets available in the market today).
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You know first of all, aside from the gigantic costs involved in generating one coin, this form of investment only appeals to those interested in turning one buck into two as Bitcoins only purpose is to perpetuate itself, thus all those interested in "responsible" or "green" investments or a product or company they believe in are all ruled out, furthermore, how one actually converts ones coins into hard currency is often cryptic to say the least (maybe that's what they mean by Cryptocurrency) unless someone will allow you to pay for their products with them which are equally few and far between if not downright shady. So I would award it an investment rating of "Three Legged Donkey".