What was
said about bitcoin this week and where?
After a year of explosive price growth, forks, failed forks and more, there is much that can be
said about bitcoin in 2017.
A lot has been talked and
said about Bitcoin's most awaited scalability solution — The Lightning Network.The Lightning Network is basically a second layer protocol developed atop the Bitcoin's blockchain network and takes transactions off the chain, thereby reducing congestion on the main network and thus expanding the blockchain's operational abilities by manifold times.
A lot has been
said about the Bitcoin Cash mining difficulty algorithm.
Yes, no matter what your Internet chat group might
say about bitcoin being beyond government control, the reality is crypto profits are income and Uncle Sam expects his cut.
Jamie Dimon doesn't have anything to
say about bitcoin anymore.
In a recent interview with Tim Draper, billionaire venture capitalist, Draper had this to
say about bitcoin: «I think it is particularly good as an option value as more options happen in bitcoin.
In fact, the opening tweets were likely some of the nicest things the Nobel Laureate has ever had to
say about bitcoin.
Here's what both sides are
saying about bitcoin's upcoming «Independence Day».
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Says About Bitcoin Cash Price 2018
So what did derivitve markets have to
say about the bitcoin price?
Read more about what analysts are
saying about the bitcoin correction, including whether or not bitcoin prices will bounce back up, and check out our complete guide to the world of cryptocurrencies for more insight into this complex and speculative market.
Back at an Institute of International Finance conference last October, Jamie Dimon had this to
say about Bitcoin:
The central bank's second in command Carolyn Wilkins had some encouraging words to
say about Bitcoin.
2017 has been the year that Bankers, Investors, and Economists have had a lot to
say about Bitcoin and cryptocurrency in general.
We really can't say what Mises, Menger or Rothbard would
say about bitcoin with them not being around to witness the internet and blockchain technology.
Ben Bernanke didn't have nice things to
say about bitcoin on Monday, and dismissed any notion that blockchain currency could rival government - controlled fiat money.
Not exact matches
In order to liquidate Mt. Gox's remaining 166,000
bitcoin, worth
about $ 1.6 billion at Monday's prices, lawyer and trustee Nobuaki Kobayashi
said he still needs regulatory approval.
You might even
say the same thing
about the Internet — though, to see the parallels with
Bitcoin, it helps to stroll back to New Year's Day 1983.
«One of the things that really drew me to the cryptocurrency ecosystem early on in 2012, 2013, when I started getting involved in
Bitcoin, was the fact that it was a true intellectual meritocracy,» Demirors
says on the latest episode of «Balancing the Ledger,» Fortune's show
about the intersection of finance and technology.
Interactive Brokers
said in a release Monday that as of 9:15 a.m.,
bitcoin futures trading in its accounts represented
about half of Cboe's recorded volume.
ONE FUN THING: In an earnings call this morning, J.P. Morgan CEO Jamie Dimon
said, «I'm not going to talk
about Bitcoin anymore.»
«I quickly realized that, in addition to misconceptions
about bitcoin being used for porn or fraud, security was one of the main hurdles holding it back to wider use,» he
said.
The company also moved its global headquarters to Zurich last month, attracted by its «regulatory stability,» Casares
said, during a time when
bitcoin companies based in New York are concerned
about the state's BitLicense regulatory framework.
«The processing time is
about 30 seconds and there's no sales tax,»
says Dan Lee, the general manager of Green Avenue Market, one of five family - run businesses in Brooklyn, N.Y., which have accepted
Bitcoin for close to a year.
Randal Quarles, the Federal Reserve's vice chair for supervision,
said earlier this month the Fed has no policy toward regulation of
bitcoin but «it certainly is something that is worth thinking
about.»
Using
bitcoin or other virtual currency to purchase goods and services is considered exchanging property, and all the transactions must be tracked for gains and losses,
said Bryan Skarlatos, a tax attorney at Kostelanetz & Fink LLP who has lectured and written
about bitcoin.
Enthusiasts
say bitcoin is the future of money, yet it is
about as volatile as you can get when it comes to investments.
The Alberta, Canada - based
Bitcoin exchange
says its closing down after cyber thieves made off with
about $ 600,000 worth of the digital currency.
Stern
says the company often conducts interviews with customers who donate
bitcoin, in part to learn
about their interest in the cryptocurrency.
Early digital currency investor Roger Ver
says bitcoin is «a game of hot potato» and he's «really, really concerned
about the future of
bitcoin.»
Policymakers from Australia to Singapore to South Korea have warned
about investing in cryptocurrencies as
bitcoin rallied a dizzying 19-fold this year,
saying price surges are mostly driven by speculation that carried huge risks.
Trendon Shavers, 32, of McKinney, Texas, was charged with misappropriating
about 146,000 of the 764,000
bitcoin, then worth more than $ 4.5 million, that he raised from September 2011 to September 2012, U.S. Attorney Preet Bharara in Manhattan
said.
Eugene Rubinchuk, a vice president and part owner at the dealership, which sells used cars with prices ranging from under $ 15,000 to an $ 89,000 Bentley,
says he saw posts
about extravagant cars like Lamborghinis bought with
bitcoin on Facebook.
Saszi then heard
about sales with
bitcoin from Frigerio at Lamborghini Newport Beach, who he
says is a friend and colleague.
If you ever
say anything bad
about it, there's like this
bitcoin mafia that comes after you.
«I'm very excited
about Ethereum,»
says Chris Dixon, a general partner at Andreessen Horowitz, a venture capital firm in Silicon Valley that got into the
Bitcoin game early on.
«We are thrilled
about the response of the market to the
Bitcoin Investment Trust since it became publicly quoted in 2015,» he
said.
«We also have the threat and lack of clarity
about regulations which is also weighing on the entire cryptoasset space, not just
bitcoin,» Tatar
said, adding that any break below $ 8,000 «will be disconcerting.»
One of the ETF companies that filed for a
bitcoin ETF has looked at the ETN route and
says others have been talking
about it as well.
While the famed investor hasn't
said much
about bitcoin recently, he called it «a mirage» a few years ago.
He
said they began buying
bitcoin in 2014 or 2015, at an average cost of
about $ 350.
About 64 percent of the 564 American adult consumers who responded
said they planned to report or have already reported their
bitcoin transactions.
As for what regulators in Washington think
about bitcoin, Cameron
said, «I think everyone recognizes the innovation and doesn't want to stifle it.
The JPMorgan Chase CEO had gone on a tirade
about a certain well - known cryptocurrency — people who purchase
Bitcoin are «stupid,» Dimon
said at an industry conference, and governments will one day «crush» the stuff — and Ludwin was aghast.
When
bitcoin saw a dramatic spike to a record - breaking $ 19,000 in December, Sherman
says he heard buzz
about cryptocurrency everywhere.
But I'm not going to talk
about bitcoin anymore,»
said Dimon in response to a question during the bank's third - quarter earnings call with media on Thursday.
Bitcoin's meteoric rise could be a sign that people are more worried
about rising prices than most think, Paul added,
saying there will be «a race to the exit.»
The CME
said about 1,049 contracts for January — the equivalent of 5,245
bitcoins — had traded versus Cboe's roughly 3,860 contracts representing one
bitcoin each.
That removes some of
bitcoin's appeal as an alternative to,
say, Visa, which charges merchants
about 10 cents for small transactions or
about $ 1 for the average swipe.