Bitcoin Series 23: Bitcoin Disclaimer

This disclaimer regarding bitcoins has appeared in a few of our posts.    Here we are posting it by itself so it can be easily referenced at:

  1. We do not care if you buy bitcoins

  2. We are not a broker-dealer, broker, financial advisor or licensed in any jurisdiction, in any way to give you financial advice

  3. This is most certainly not a recommendation to buy, sell, short, trade bitcoins, litecoins, bbqcoins, dogecoins or StalwartBucks – you could lose all your money in one of many ways including, but not limited to: your incompetence, poor security, poor backups, poor trading strategies, price fluctuations, pump-and-dump schemes, software bugs, counterparty risk, exchange rate risk, liquidity risk, regulatory risk and more!

  4. If you choose to buy bitcoins or any other cryptocurrency, you are 100% buying it at your own risk and on your own initiative.   In any case, you will not be buying it from us because we are not in the business of exchanging cryptocurrencies.

  5. Bitcoins are not anonymous and exchanges and online wallets even less so.   If you are going to use bitcoins to try to cheat on your taxes / divorce settlement / child support, you are a moron.

    Pro tip:  If you think you have discovered a great business opportunity that involves trading cash/gift certificates/other stores of value in/out of bitcoins, run 
    to your lawyer's office and ask him or her to explain to you what AML, KYC, MSB, BSA and "sentencing guidelines" mean.

  6. If we reference a firm in the bitcoin space it does not mean that there aren't other firms that might do the same thing better / in your country.    

    Moreover, referencing a firm is in no way an endorsement of that particular firm – any firm theoretically could be hacked, run away with your money or be shut down by regulators / co-opted by the ‘system.’ 

    Keep in mind that most firms in this space are still very young and very small relative to traditional financial institutions.   You likely do not have the same level of consumer protections that have been developed over the course of decades in banking at this point.


  7. We may or may not invest in any particular sector of the cryptocurrency field.

  8. Ledra Capital, our affiliates and our principals may hold any number of old-timey 'fiat' or digital currencies at any time long, short or falling out of our wallet all crumpled up after a long night of drinking.   If we knew how different sovereign and/or virtual currencies would trade against each other in the future, we would be having umbrella drinks on our private islands, not tweeting about bitcoin.   

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Posted on March 5, 2014 and filed under Bitcoin.