Bernanke: “Eventually Governments Will Take Any Action They Need to Prevent Bitcoin”
Toronto, Canada is host to an invitation-only, exclusive event. Swell, a three day conference sponsored by Ripple, a real-time gross settlement program and favorite among mainstream banks, ends October 18.
Billed as bringing “together leaders in banking and blockchain who are committed to changing the way the world moves money today,” its opening keynote address was given Monday by Ben Bernanke, former Fed chair.
During a discussion with Ripple Board of Director Gene Sperling, himself a former administration advisor to Presidents Clinton and Obama, as well as during Hillary Clinton’s 2008 campaign, Mr. Bernanke praised Ripple.
“The Fed, the Bank of England, and Japan,” Mr. Bernanke is quoted by Fortune‘s Jeff John Roberts, “are very supportive of [Ripple and similar] technologies because they’ll improve payment systems.”
Full story at http://bit.ly/2xOmLM8
Source: Bitcoin News
Bitcoin Price Cracks $5,700 but Ethereum Wanes after Byzantium
The crypto markets have exhibited mixed performance during the early portion of the week. The bitcoin price continued to hover near its all-time high on Tuesday, climbing just enough to crack the $5,700 barrier. The ethereum price, meanwhile, lost ground following the successful deployment of its much-anticipated Byzantium hard fork.
Altogether, the markets rose about $1.5 billion for the day, although the non-bitcoin market cap fell by about $1 billion. Yesterday, the total crypto market cap was $172.4 billion, This value declined throughout the day — along with the bitcoin price — briefly dipping as low as $169 billion. However, the markets saw a significant bump at 6:00 UTC on Tuesday, enabling them to climb to a present value of $174 billion.
Since surpassing the $5,000 mark last week to set a new all-time high, investors have been watching the charts with anticipation to see whether the bitcoin price would hold above this historic level or contract to a lower threshold. Thus far, bitcoin has managed to avoid a pullback. Despite dipping below $5,500 on several occasions, the bitcoin price has consistently recovered to the $5,600 mark. On Tuesday, the bitcoin price extended this recovery a bit further, climbing above $5,700. At present, the bitcoin price is trading at a global average of $5,733, which translates into a $95.3 billion market cap.
Several analysts predict bitcoin could rise into the $6,000 to $7,500 range by the end of the year, but its short-term trajectory will be heavily dependent on the outcome of the contentious SegWit2x hard fork.
Full story at http://bit.ly/2xOdcgl
Source: CryptoCoinsNews
Billionaire Bitcoin Investor: ‘Jamie Dimon a Rent-Taker, He’s Going to Lose’
Former Wall Street mogul and billionaire bitcoin investor Mike Novogratz has called Jamie Dimon a ‘rent-taker’ who will lose the fight against the ‘cryptorevolution’ led by cryptocurrencies like bitcoin and blockchain technology.
Retired Wall Street macro fund manager Michael Novogratz has offered his opinion on JPMorgan Chase chief Jamie Dimon’s much-publicized recent comments on bitcoin. Dimon called bitcoin a ‘fraud’, threatened to fire any employee trading bitcoin and more recently, said ‘stupid’ bitcoin buyers will pay the price for adopting the cryptocurrency.
In an interview with Bloomberg, Novogratz said Dimon’s position as a banker affords him no choice but to belittle bitcoin. The oncoming crypto-tide, the former Wall Street giant said, is one that’s going to wash over the banking industry.
Billionaire Novogratz, who revealed he holds 10% of his money in Bitcoin & Ether, stated:
"Jamie Dimon gets paid to worry about bitcoin because he’s a rent-taker. The decentralized revolution is about going after the rent-takers. His bank is in the crosshairs of the cryptorevolution. So he’s playing defense. He’s going to lose."
Full story at http://bit.ly/2xOy07t
Source: CryptoCoinsNews
Preparing for the Bitcoin Hard Forks: A Step-by-Step Walkthrough
This past summer news.Bitcoin.com wrote a lot about preparing for a fork when the entire Bitcoin network and its participants experienced the August 1 blockchain split. Currently, there are two bitcoin forks scheduled to happen over the next few weeks. This means if splits happen to occur between all of them, there could be a total of four blockchains that share the same transaction history of the original Bitcoin blockchain created by Satoshi Nakamoto.
The Bitcoin Gold (BTG) project aims to fork the network so they can create an Application Specific Integrated Circuit (ASIC) ‘resistant’ version of bitcoin. The reason they are forking the network is because the team thinks ASIC mining is too centralized. So BTG developers plan to make bitcoin mineable using Graphic Processing Units (GPU), by changing the original protocol’s consensus to an algorithm called Equihash. This hard fork is planned for October 25 the developers have stated, but the network itself won’t be live until November 1.
The Segwit2x hard fork is a technical compromise stemming from the New York Agreement (NYA) this past spring, between a vast majority of bitcoin miners and businesses. Some people believe the NYA compromise helped push miners to use their hashrate voting power to ultimately implement the Segregated Witness (Segwit) protocol. But the activation of Segwit came with the agreement that three months later a 2MB block size hard fork would take place. This hard fork will take place at approximately block height 494784 or roughly around November 18 depending on hashrate.
At the present time, both of these forks may or may not take place on the expected dates.
Full story at http://bit.ly/2xOluox
Source: Bitcoin News
Smart Regulation Could Make Russia Next Major Bitcoin Market
Russia could evolve into the next major Bitcoin market, as the government continues to encourage Bitcoin mining and moves closer towards regulating its cryptocurrency exchange market.
Earlier this week, Cointelegraph revealed that Russian President Vladimir Putin approved the launch of CryptoRuble, a cryptographically-secured state-issued national digital currency.
Minister of Communications Nikolay Nikiforov said:
“I confidently declare that we run CryptoRuble for one simple reason: if we do not, then after two months our neighbors in the EurAsEC will.”
Full story at http://bit.ly/2xO8vTQ
Source: CoinTelegraph
Investor Predicts Bitcoin Price to Hit $27k in Four Months
A bitcoin investor and podcast host has predicted that the price of bitcoin will increase to over $27,000 in four months time.
Trace Mayer, who proclaims to be an entrepreneur, investor, journalist, monetary scientist and ardent defender on his website, took to social media to make his prediction. According to him, by February 2018, bitcoin’s value will be worth $27,395.
Host of The Bitcoin Knowledge Podcast, Mayer is basing his prediction on a 200 day moving average. He’s assuming that by taking the 200 day moving average, in four months it will reach $5,767. At which point, he believes that each bitcoin will be worth over $27,000, increasing its relative price by 4.75 times.
Full story at http://bit.ly/2xOlmpa
Source: CryptoCoinsNews
Donation:
If you appreciate the things I share, consider making a contribution
no matter how small via PayPal or with TransferWise (EUR).
If you use Waves my wallet address is: 3PPeCnXEDAiRVzvsuGRycrNDHhWgDq68uVt
If you use Bitcoin my wallet address is: 12pAsyMdZoTHPvkiRAZiuQhC8bF4DLbYpQ
Bitcoin QR-Code
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.