Switzer Report

Discussion in 'Digital Currencies' started by mmm....shiney!, Jul 11, 2019.

  1. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    I get these guy’s emails periodically, they also have an investment forum coming up in some of the major centres in August. I actually considered going to them, but not now.

    From today’s email:

    http://www.switzer.com.au/the-exper...m_medium=newsletter&utm_source=switzer-weekly

    It seems every time cryptos get some traction going the dinosaurs from the financial establishment world come out and bag it. They love government issued fiat and they love government regulation because it gives them a cushy job where they can navigate the legislative minefield and asset destroying economic environment all the while taking $100’s and $1000’s off their customers in fees per year.

    Scum of the earth. A pox on financial advisers.

    And I’ve unsubscribed, they can’t possibly shed any light on anything for me.
     
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  2. JulieW

    JulieW Well-Known Member Silver Stacker

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    There wouldn't be a degree of cognitive bias sneaking in there would there Shiney?

    I've never been a fan of crypto but the pending Facebook Libra might be a game changer in the real world crypto space. (mainly because of Facebook's global penetration and its dodgy friends with capital letter names, like CIA, NSA, etc, etc
     
  3. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    No. I was subscribed to them in the hope of gaining some insights into portfolio establishment and maintenance. I can't learn anything from a group that are close-minded, make the wrong calls and just don't understand what they're talking about. They are just mainstream and everyone already knows mainstream. Mainstream is just so mainstream.

    Some more excerpts from the report that provide proof of this:

    Transparency is what DLT is about. The author confuses transparency with the ability for a third party to identify who is behind sending and receiving transactions ie tracking.

    I don't think I need to explain how foolish that comment is.

    That view is not shared by millions of other people, but the author uses that and other arguments in calling for the State to regulate and even ban them. Regulation is necessary for institutional investment as they have to adhere to legislative guidelines when investing OPM on behalf of them, but banning is sinister and smacks of protectionism.

    Crypto = liberty. Government issued fiat = restraint.
     
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  4. willrocks

    willrocks Well-Known Member Silver Stacker

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    It reminds me of all the other attempts (i.e. protectionism) at using laws to stifle innovation such as the automobile "Red Flag" laws:

    https://en.wikipedia.org/wiki/Red_flag_traffic_laws
     
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