The Bitcoin is still on the front page of all newspapers around the world. Also, recently, investors from Hong Kong have entered into the market of Bitcoin and other digital currencies that are emerging. However, the local media reported that many new investors may be unprepared for the risks associated with the crypto-currency.
A canadian investor living in Hong Kong launches Bitcoin
Speaking with the South China Morning Post, Mr. Laberge, a canadian investor, said that he had started to buy Bitcoins with a value of $ 500 on 15 November. During this period, the price of this virtual currency was of 6 600$. At this time, he knew very little about crypto-currencies. After a fortnight, Mr. Laberge has, however, chosen to invest tens of thousands of dollars in Bitcoin.
Here’s the video relaying this information :
He explained that the manner in which he dealt with the companies of trade was quite complicated. It was very difficult to get in contact with the companies of trade of Bitcoin. Unlike a bank where it directly calls their number, the exchange platforms offer other tools, he added. Mr. Laberge said that it will invest no further capital in the Bitcoin, despite a 70% increase in his investment.
The rapid growth poses challenges to regulators
Charles Mok, representative of the it sector in the legislative council of Hong Kong, explained that the growth of the crypto-currency would pose a number of challenges to regulators. He said that their situation puts them in an uncomfortable position. On one hand, they want to see an industry develop around the Bticoin. But on the other hand, he did not think that this kind of speculative activity is really conducive to the growth of digital currencies in the long term. He is concerned about the developments in the market that might crumble quickly.
Source : NewsBitcoin