Welcome back to crossfire where all Things Considered im peter remind you were discussing bitcoin. Here let me go back to you in cambridge while it is a fascinating concept these cryptocurrency if there is the concern of accountability Illegal Drugs arms and other kinds of illegal activity can stay under the radar of the authorities i mean i think thats a kind of a downside also you know when people talk about it is being a newfie out currency one day i mean you know people are buying big ticket items because they are avoiding taxation and things like that so i mean it kind of cuts both ways here i guess really the most important question will be if this kind of crypto currencies are successful what is the temptation of governments to step in to regulate it and would regulation kill it go ahead. Right now its been very interesting to watch the migration of regulatory interest across this space mean first we had Law Enforcement with the rise of the socalled road in the online dark web s
Next in line to to start getting involved with regards to Law Enforcement question you know its a its a double edged sword for Law Enforcement because on the one hand you know you know these these currencies do enable privacy on dark web transactions but on the other hand Law Enforcement when they catch a criminal whos been using bitcoin and they get a hold of their Wallet Software they get effectively their books and they may have a good chance of recovering some of the funds and thats not something you get with the cash criminal where there isnt Record Keeping so you can use the block chain to prosecute cases and that has been done and Law Enforcement i think at least in some jurisdictions is steadily becoming more open to seeing crime committed with with watching technology does give them a to advantage over cash crime ok its a very Transparent Technology that sort of amazing plus for a jeffrey earlier this week there was a San Francisco judge putting pressure on a company that trad
A big point its really just an investment its not really. A mechanism to buy and sell it is to park your money somewhere and leave it there because you dont trust the banks i mean it for it to be really universal you have to be able to be able to use your wallet as they call it and buy things and sell things its not that easy to do its not widely accepted you know many more innovative people do say they accept the go ahead midge. Its part of you know its part of a diversification strategy where youd have some big going to just sit on it not worry about what your basis was and whatever losses are youre going to eat the losses and if you get a profit out of it fine but you know it when you have that much volatility you know i disagree that the big hedge funds will get involved in this when you have a thirty percent volatility swing each direction so from peak to trough and back up again down and up again i mean no investor wants to tolerate that kind of volatility and how can you manage
Probably not if we get a more bit a bit more stability into these markets youll see more investment but also from that risk reward perspective youve also got to keep in mind that this is a non regulated market thats the attractiveness from people but governments have overreach like were seeing in the media right now the deep state runs america theyre trying to rewrite history here with these statue wars and thats always a dangerous time so if too many people get on the bitcoin train and get on the crypto train the government could come in one day and say its illegal in this country were cracking down on everybody because right now when you open up an account they they demand the k y c know your customer information and they they will when it becomes bigger they will try to regulate it and they will try to control it its difficult for the government to let anything come out of its you know come out of its grasp the Federal Reserve prints willy nilly trillions and trillions of dollars si
Are vastly clogged right now and its very expensive to send and receive. Its going so hard so fast as almost become unusable just by itself for regular small transactions that. Are looking for things like oh yeah thats the reason why i never really got into it because its not easy to move around lease im not adept at doing those kind of things or you know mitch another the other people are saying that this whole thing with a big point its really just an investment its not really. A mechanism to buy and sell it is to park your money somewhere and leave it there because you dont trust the banks i mean it for it to be really universal you have to be able to be able to use your wallet as they call it you know and buy things and sell things its not that easy to do its not widely accepted to the many more innovative people do say they accept the go ahead midge. Its part of you know its part of a diversification strategy where youd have some big going to just sit on it not worry about what yo