Amid threats of a potential ban on cryptocurrency, former FDIC Chair Sheila Bair said digital currencies such as bitcoin should be more tightly monitored but not stopped.

"It's something regulators need to deal with but not ban," Bair told CNBC's "Fast Money" on Thursday. Bair, who said she does not own any bitcoin, now serves as a board member for Paxos, a financial firm developing blockchain technology for digital currency.

"I think some additional regulation would be good, and I argue for that," she said. "Especially on anti-money-laundering laws, where I think there are a lot of concerns over use of bitcoin or other digital currencies."

The former U.S. Federal Deposit Insurance Corporation chair served under President George W. Bush during the financial crisis in 2008.

Bair said bitcoin and other digital currencies could benefit from more scrutiny to ensure there is no manipulation or fraud and that there are clear disclosures so that people can make informed decisions when investing.

But banning the asset, she said, would be a mistake.

"We don't ban assets," she said. "Where does that stop?"

"There are a lot of products out there that ... in a lot of people's minds have questionable value," she said. "But ... traditionally in the U.S. we've let markets price values and determine what the value is."

Cryptocurrencies fluctuated rapidly this week over regulatory concerns and South Korea's announcement that it was considering banning digital currency, sending investors into a tailspin and triggering sell-offs. So far about a dozen countries — including France, Bolivia and Russia — have proposed a ban on cryptocurrencies or already have one.

The unpredictable market, of which bitcoin is the most popular digital currency, lost approximately $200 billion as a result of the sell-offs. That represents a third of its value since peak trading in mid-December. Once valued at approximately $19,500 per coin, bitcoin's worth fell below $10,000 on Tuesday.

By Thursday, bitcoin and other cryptocurrencies — including ripple, ethereum and litecoin — were on the upswing once again. Bitcoin briefly topped $12,000 on Tuesday, an increase of more than 30 percent from the day before. But prices were still down more than 40 percent from peak December prices.

Cryptocurrency's volatile nature and potential for large-scale gains could be what attracts some market watchers.

Bair's biggest concern, she said, is that people are investing in something they don't understand.

"I worry that people are getting into this because they're seeing the skyrocketing returns and the tremendous increase in value without really understanding what it is," she said.

https://www.cnbc.com/2018/01/18/regulate-bitcoin-but-dont-ban-says-former-fdic-chair.html

Did you know that GatCoin already released their demo app? This is a huge approval of their competence.All instructions how to install the demo are available below. Too bad, i`m not Korean or Japan resident, looking forward to try Gat tokens in real store.

https://www.gatcoin.io/gatcoin-mobile-demo/

The chairman of Korea’s Fair Trade Commission – the economic competition regulator – has blasted efforts to shutter cryptocurrency exchanges before calling on the government to regulate the industry instead.

In a radio interview yesterday, FTC chairman Kim Sang-Joo plainly opined it is “not realistically possible” to shut down cryptocurrency exchanges, adding that the law does not permit authorities like the justice ministry to close cryptocurrency exchanges.

In quotes reported by JoongAng, Korea’s largest media network, Kim said of the proposed ban in translated statements by CCN:

The official was offering his take on the recent controversial statements by the country’s justice minister Park Sang-ki. In a press briefing a week ago, the latter revealed the ministry was “preparing legislation that basically bans any transactions based on a virtual currency through trading.” In essence, a complete shutdown of domestic cryptocurrency exchanges “would be one of the goals we are aiming for,” justice minister Park said. The backlash from the Korean public was immediate and fierce, compelling the official office of the Korean president to release a statement cooling fears of a ban on trading, on the same day of the justice minister’s statement.

The statement is particularly notable, coming from the chairman of the country’s economic competition regular and a member of South Korea’s cryptocurrency task force – an inter-governmental collective tasked to propose a regulatory framework for the cryptocurrency industry. The FTC joins the Ministry of Strategy and Finance, a fellow task-force member, in refusing to support the proposed ban by the Ministry of Justice.

Asked if the increased investments into cryptocurrencies is due to excessive speculation, chairman Kim expressed a hands-off approach, pitting cryptocurrencies alongside any other traditional investment. He stated:

“From the viewpoint of an economist, it is not a fair and transparent decision to outright ban economic activity. Whether it is excessive speculation or not, the gain or the loss is the responsibility of the investor.”

Furthermore, Kim called or a more nuanced regulatory approach with limits for investors. A ban, if needed, would extend only to crypto exchanges and trading platforms violating rules.

He said:

https://www.ccn.com/impossible-shut-cryptocurrency-exchanges-govt-lacks-authority-koreas-fair-trade-chief/

Сегодня Александра презентовала MARK.SPACE на Blockchain и Крипто Семинаре, который проходил при Посольстве Российской Федерации в Нидерландах, куда она была приглашена как одна из ключевых ораторов.

https://medium.com/@markspace/government-officials-are-being-increasingly-interested-in-new-technologies-blockchain-being-no-73b19411786b

There has been a surge in South Africans selling high-value items for Bitcoin, according to Gumtree SA.

Gumtree stated that Bitcoin’s rise in value and adoption has seen more users “itching to get their hands on the digital currency”.

“There’s been an increase in swops and Bitcoin-only sales on Gumtree.co.za,” said Claire Cobbledick, Head of Core at Gumtree.

“This is particularly true for high-value items like cars, bikes, and boats. Many sellers are willing to take a gamble with their assets in hopes of a large payout.”

This behaviour follows similar trends in the US, where, in one example, a McLaren 720S was put up for sale in exchange for 25 Bitcoin.

Gumtree does not allow the sale of Bitcoin miners or services, but customers can exchange goods for Bitcoin on the site.

They must be aware of the risks, however, said Cobbledick.

“Bitcoin is a volatile currency, so while you could easily see a 50% increase in your investment, you could just as easily end up with nothing.”

Cars currently up for sale in exchange for Bitcoin include a Land Rover Defender, BMW X5, and a 1970 Mercury Cougar V8.

“There are also sellers accepting Bitcoin in exchange for Krugerrands,” she said.

Big growth
Blockchain expert Simon Dingle recently stated that there is potential for big Bitcoin growth in 2018, and for greater adoption.

“This year, the Lightning Network will be made publicly available, offering a decentralised, peer-to-peer payment protocol that makes Bitcoin viable for even very small transactions, without sacrificing its anti-fragility or openness,” said Dingle.

“This movement should kill the erroneous idea that Bitcoin is just a store of value or asset.”

https://mybroadband.co.za/news/cryptocurrency/244723-south-africans-are-selling-their-cars-for-bitcoin.html

This time last year, Bitcoin and its brethren were only in the realm of tech geeks and crypto fanatics. What a difference a year can make. Today it is a household name which has attracted the attention of governments across the planet. A number of bankers and politicians have spoken out about Bitcoin, either extolling its virtues or demonizing it. The latest is former Republican Ron Paul.

According to reports, the politician says he is all for Bitcoin as an alternative currency, providing everything about the controversial cryptocurrency is legal. The former Texan congressman told CNN that he introduced legislation to allow competing currencies when he was in Congress because he hates the current system.

FLAWED SYSTEM

Big bankers have voiced their views which are pretty predictable, cryptocurrencies threaten the banking business model which is to profit from the money of other people. Top voices on markets from economist Robert Shiller to JP Morgan Chase chief Jamie Dimon have warned people off buying Bitcoin. Ron Paul has recognized the flaws in the existing monetary system and is critical of it;

"I abhor the system that we have. The official counterfeiters are at the Federal Reserve. That is a big misstep and a big problem. So people should have the right to choose. They did originally when money started. Then they picked gold and silver. And the government has taken over and abused that standard and monopolized it. And destroyed it in this country."

He is in favor of legalizing alternative currencies as long as they are not used for fraudulent purposes.

NOT TANGIBLE

The former GOP presidential candidate went on to state that things have not been tangible since 1971 and the end of the gold standard when the currency was directly linked to the value of gold.

"I think the jury’s out on how far they’re going to go with cryptocurrencies acting as money. Right now, I don’t see it because, in my studies of monetary history, it’s always been something tangible. People want something tangible. Somebody has to sort it out if it [cryptocurrency] ever becomes money. But I have questions because historically, money should be something that’s tangible, but it should be legal, as long as there’s no fraud."

Bitcoin and cryptocurrencies are becoming more accepted with major exchanges in the US offering contracts on them, more are likely to follow this year.

http://bitcoinist.com/republican-ron-paul-on-bitcoin/

Week after week regulators and governments have been announcing plans to regulate digital currencies like bitcoin. This week in France on January 15 the Minister of the Economy Bruno Le Maire announced his decision to create a “digital currencies mission” and a working group that will work towards regulating cryptocurrencies. In addition to the digital currency objectives, Le Maire appointed the former Bank of France (BOF) deputy governor, Jean-Pierre Landau, as the new working groups leader.

A New Cryptocurrency Mission Will Begin In France Dedicated to Regulatory Action

Last Spring many bitcoin proponents thought French politicians and regulators might favor cryptocurrencies after the left-leaning president of France, Emmanuel Macron, was elected and photographed brandishing a Ledger hardware wallet. Now the Minister of the Economy Bruno Le Maire says the country is creating a working group led by the former BOF deputy governor that will study digital currencies while also proposing regulatory standards.

“We want a stable economy: we reject the risks of speculation and the possible financial diversions linked to bitcoin,” explains the Minister of the Economy Monday morning. “I asked the Argentine G20 members to take up this issue and I have now entrusted Jean-Pierre Landau, the former deputy governor of the Banque de France, to complete a mission concerning cryptocurrencies.”

"Jean-Pierre Landau’s mission will be responsible for proposing guidelines on the evolution of regulations and to better control development and prevent their use for the purpose of tax evasion, money laundering or for financing criminal activities and terrorism."

Jean-Pierre Landau: Bitcoins Are the Tulips of Modern Times

The Minister of the Economy’s choice in picking Jean-Pierre Landau goes alongside the authorities’ concerns about illegal activities tied to digital currencies. The former BOF deputy governor Landau has displayed his distaste for bitcoin publicly writing an opinion piece for the Financial Times in 2014. The editorial called, “Beware the mania for Bitcoin, the tulip of the 21st century” explains that Landau believes bitcoin is very much like the tulip mania that supposedly took place decades ago. Further cryptocurrencies like bitcoin are only attractive to criminals the BOF executive details.     

“The currency is at present attractive for two reasons — One is anonymity, which makes it suitable for tax evasion and money laundering — This will not last; authorities are already wising up.

"The other is pure speculation, and bitcoins are the tulips of modern times — The mania is not yet over, but the longer it lasts, the more investors are likely to be burnt."

France has a pretty active bitcoin community and they may not appreciate the newly appointed cryptocurrency mission commander. The nation is home to La Maison du Bitcoin (The Bitcoin House), the company Ledger Wallet’s headquarters, and a plaza called La Cercle du Bitcoin (Bitcoin Boulevard) with over 25 merchants who accept bitcoin.

https://news.bitcoin.com/france-appoints-a-cryptocurrency-mission-leader/

Google Search Volume for Bitcoin Keywords Increased by as Much as 1000% During 2017

Following bitcoin’s incredible performance and increased media coverage during 2017, there is no doubt that bitcoin has witnessed increased user adoption. Estimates regarding the scale of bitcoin’s growth vary due to the anonymous nature of bitcoins transactions; however, the search engine traffic for terms such as ‘bitcoin’ are generally seen as a reliable indicator of the growth in bitcoin’s user adoption. The most recent figures made available by Google indicate an increase in searches for prominent keywords relating to bitcoin of many hundreds of percent when comparing data from 2016 and 2017, whilst bitcoin became the ninth most visited page on Wikipedia during last year – indicating a significant increase in bitcoin user adoption.

On Wikipedia, Bitcoin Was the Ninth Most Visited Page for 2017

According to Wikipedia’s annual report the 50 most visited pages on the website, bitcoin ranked ninth for 2017. The report describes bitcoin as “the much-hyped ‘future of money’”, adding that the world’s first cryptocurrency “has turned into the most speculative intangible asset of all time.” The report states that the page was visited 15,026,561 times during 2017.

Traffic for bitcoin’s Wikipedia page peaked on the 8th of December – when BTC experienced a dramatic retracement of approximately 20%, falling from the then all-time high of $17,171 USD on Bitfinex, before bouncing off the approximately $14,000 area. Despite bitcoin’s meteoric price performance during 2017, the Wikipedia report recognizes some of bitcoin’s shortcomings that emerged during the year – stating that bitcoin “prov[ed] totally unsuitable as a means of payment” due to the controversy surrounding the scaling issues that have plagued BTC throughout the year.

Read more: https://news.bitcoin.com/google-search-volume-for-bitcoin-keywords-increased-by-as-much-as-1000-during-2017/

Я так думаю что партнерство у обоих команд продолжается, был отсканирован для 3D модели офис Sonm. Что касается технологичекого сотрудничества, оно возможно после релиза готового продукта от Sonm. Кроме того, в англоязычных видеообзорах команда говорила о большом интересе крупных западных IT компаний к mark.space технологии.

Пресейл успешно завершен.
ICO: 23 января 2018г.
С вашей поддержкой собрано: 5 056 992$
Вкладчиков: 1991
Средний размер вклада: 2339$

Сегодня 28 числа заканчивается PreICo Mark.Space. Уже собрано более 3 млн. долларов. Основное ICO начнется 23 Января и законч. 28 Февраля. Времени для участия в баунти более чем достаточно. Токены MRK будут добавлены на биржи после 28 Февраля.

TD Ameritrade, like many other titans of the financial world, is also jumping on the Bitcoin bandwagon. Indeed, the giant securities brokerage services provider will start trading Bitcoin futures when the financial markets open on Monday, December 18, 2017.

THE VOLUME OF BITCOIN FUTURES TRADING TO SURGE

For some time, Ameritrade had been monitoring whether there were sufficient liquidity and market efficiency for Bitcoin futures. Ameritrade leadership believes that these parameters are now optimal. According to MarketWatch, spokeswoman Alyson Nikulicz stated,

At this point, we believe the market is showing signs of adequate liquidity for CBOE product.

TD Ameritrade, based in Omaha, Nebraska, provides securities brokerage services and related technology-based financial services. It offers its services to traders and independent registered investment advisors, and retail investors.

Read more: http://bitcoinist.com/td-ameritrade-starts-trading-bitcoin-futures-monday/

The U.S. government is planning to sell off confiscated bitcoins seized during an opioid drug case that are now worth almost $10 million in the wake of the recent spike in prices.

Government attorneys in the state of Utah are now working quickly to sell the 513.1490393 bitcoins (BTC), worth approximately $8.7 million at current prices, according to CoinDesk's Bitcoin Price Index. An almost equal number of bitcoin cash (BCH) is also to be sold (512.9274588), having a value of close to $949,000.

According to the court order:

The order further said that cryptocurrencies will be sold and converted into US dollars using one or more commercial cryptocurrency exchanges in increments of 50 coins or less, in a move to safeguard against loss or fraud. The sale proceeds will be deposited into the Treasury Forfeiture Fund Suspense account.

As per the court documents, U.S. district judge Dale Kimball approved the sale of confiscated cryptocurrencies on Dec. 12 after the prosecutors in the case filed a request for the sale on the same day.

The case involves a Utah man, Aaron Shamo, who was charged with running a multimillion-dollar opioid drug ring out of a Salt Lake City suburb in Nov. 2016, and was considered among the largest busts of its kind in the country, an Associated Press report says.

Shamo and his alleged partner, Drew W. Crandal, were accused of selling fake prescription drugs on a dark web marketplace. The seized bitcoin gains were worth less than $500,000 when Shamo was arrested, another AP report states.

Back in 2015, the U.S. government held several auctions of bitcoin obtained through its investigation of the now-defunct dark market Silk Road. In September, the government finally acquired possession of the proceeds from those auctions after a long legal battle with convicted Silk Road operator Ross Ulbricht, who had sought to regain possession of the funds.

In June, the South Korean government also sought to auction 216 bitcoins confiscated during a 2016 criminal investigation.

https://www.coindesk.com/us-government-to-sell-off-10-million-in-seized-bitcoin-and-bitcoin-cash/

I think the price goes up just because this is a natural growth. All Altcoin market is on the rise, and pillar is not an exception. More over, they are hiring, working, very active in social media, their manager looks like a sparkling personality, they are opened for community and discussions, a lot of green flags for investors. For those, who are looking pillar roadmap: https://medium.com/@pullnews/the-pillar-wallet-road-map-761222e95127

Bitcoin mining has exploded in Venezuela due to the country’s massive hyperinflation. Now the Venezuelan government is requiring bitcoin miners to join an online registry.

It seems that the misery of the Venezuelan people knows no end. The South American country’s economy has been hammered by massive hyperinflation due to the policies of the authoritarian government, now headed by President Nicolas Maduro. Many people, both poor and rich, have turned to mining Bitcoin in order to survive. Now a further clampdown is coming as the Venezuelan government is requiring bitcoin miners to join an online registry.

SIGN UP … OR ELSE

The announcement of the new registry was made at a recent press conference by Carlos Vargas, the newly appointed “superintendent of Venezuelan cryptocurrency.” Bitcoin miners will have to start registering with the government on December 22nd when the online registry goes live.

Of the information that the government is looking for, Vargas says:


Those in favor of the registry say that it will offer legal protections to bitcoin miners. Currently, the government has been cracking down on miners, such as the recent police raid on December 9th that saw the confiscation of 21 mining computers and the arrest of their 31-year-old owner. The police have charged the bitcoin miner with exchange fraud, computer crimes, damage to the national electric system, financing terrorism, and money laundering. (I’m surprised they didn’t throw in jaywalking while they were at it.)

Read more: http://bitcoinist.com/venezuela-now-requires-bitcoin-miners-register-government/

Bulls are on parade as hedge funds pour money into bitcoin-related projects and products. Traditional hedges have been outperformed by cryptocurrency funds in 2017, and the phenomenon has turned into a full-fledged feeding frenzy. New indices are popping up to track it all. Ecosystem stalwarts Bitgo and Bitpay expect new rounds of funding, and well-over 100 such funds are now dedicated to cryptocurrency. 

Crypto Hedge Funds Up 1,500% in 2017

Hedge funds as a whole are up a nice inflation-beating 7.5 percent as the year finishes. When placed against crypto-related industry products, legacy financial professionals are scrambling to up their game. Hedge Fund Research (HFR) President Kenneth Heins tells Lindsay Fortado: “Investor interest in funds offering exposure to blockchain technologies and cryptocurrencies has surged in recent months.”

Citing “the explosive growth in investor interest in blockchain technology and cryptocurrencies,” the company created “two new indices, the HFR Blockchain Composite Index and the HFR Cryptocurrency Index, the first family of indices designed to capture performance of hedge funds investing,” its website touted. 

HFR’s Blockchain index shows “a meteoric surge of +1,522 percent in 2017 through November,” while its Cryptocurrency variation “has surged +1,641 percent in 2017 through November,” the company claims. “HFR began tracking the first cryptocurrency hedge fund in 2013, though interest and growth in this area has surged in 2017 as a result of stratospheric price increases and broad proliferation of new coins via ICOs, as well as launches of listed futures contracts,” the company notes.

Read more: https://news.bitcoin.com/once-coy-hedge-funds-now-rush-to-bitcoin/

Cryptocurrency continues its incredible surge, with the combined market capitalization of all digital currency reaching $500 bln. According to the Wayback Machine, on December 15, 2016 - almost exactly one year ago - the total market cap stood at around $15 bln. Today’s price movements bring the total return of the entire sector to about 3,333%, year-over-year. Virtually anybody who owned crypto a year ago, and still holds it, is a winner.

How far we’ve come
As of one year ago, the top ten digital currencies and their market caps were:

Bitcoin, $12.5 bln

Ethereum, $713 mln

Ripple, $241 mln

Litecoin, $177 mln

Monero, $114 mln

Ethereum Classic, $86 mln

Dash, $64 mln

Steem, $41 mln

MaidSafeCoin, $37 mln

Augur, $34 mln


Today, the list looks like:

Bitcoin, $292.7 bln

Ethereum, $58.8 bln

Bitcoin Cash, $27.5 bln

Litecoin, $18 bln

Ripple, $14.6 bln

IOTA, $12.8 bln

Dash, $7 bln

NEM, $5 bln

Monero, $4.7 bln

Bitcoin Gold, $4.6 bln

Last year, two of these currencies (Bitcoin Cash, Bitcoin Gold) didn’t even exist, and at least one (IOTA) was only traded over-the-counter at incredibly low prices. At that time, only the top five cryptocurrencies had breached the $100 mln market cap level; today the top 23 digital currencies have over $1 bln in market cap. To find a currency with “only” a $100 mln market cap, one must scroll down to number 90 on the list.

https://cointelegraph.com/news/bitcoin-altcoins-combined-reach-market-capitalization-of-half-trillion-dollars

“I was wrong about Bitcoin,” the New York Times writes Tuesday as mainstream U-turns on Bitcoin versus Blockchain begin.

‘HOW DID I GET BITCOIN SO SPECTACULARLY WRONG?’

As the leading cryptocurrency continues to hover around all-time highs of $17,000, a sense of regret is increasingly visible in the world’s media after years of calling the imminent ‘death’ of Bitcoin.

“What happened? Why did so many people — myself included — get Bitcoin so spectacularly wrong?” journalist Kevin Roose, who bought and sold Bitcoin for $140 several years ago writes.

The merits of Bitcoin rather than Blockchain or the promise of so-called “distributed ledger technology” have come to the fore in recent months in particular.

While many commentators continue to warn of a price bubble, even the Times now concedes Bitcoin is unlikely to ‘die,’ “even in the event of a crash.”

The tone marks the emergence of what has until now been a rare angle outside cryptocurrency itself: that Bitcoin is in itself a valuable entity, and not a volatile implementation of Blockchain.

Read more: http://bitcoinist.com/wrong-bitcoin-ny-times-regrets/

People are taking out mortgages to buy bitcoin, says securities regulator Joseph Borg. Coupled with accounts of credit cards and equity loans being used to obtain bitcoin, it raises the possibility of risk-taking investors being left deeply indebted or potentially even homeless.

Betting It All On Bitcoin

Most people have heard of “that Reddit guy” who took out equity on his house to buy bitcoin earlier this year. His daring investment, made when bitcoin was trading at around $3,000 a coin, has paid off so far. But if Joseph Borg is correct, such cases are no longer isolated, and the higher bitcoin climbs, the greater the risk credit-takers face.

Speaking on CNBC on Monday, the veteran securities regulator said:

As president of the North American Securities Administrators Association and director of the Alabama Securities Commission, Borg has a wealth of experience to call upon. Even the most ardent of bitcoin believers would concede that families probably shouldn’t be betting everything they have on bitcoin.

Using Cheap Credit to Buy Expensive Bitcoin

Mortgages and equity aren’t the only means by which people have been scrambling to free up funds for bitcoin: major sites such as Coinbase accept credit card payments. So long as bitcoin keeps rising, buyers can pay off their monthly credit card debt with their profits. A major correction, however, would leave investors indebted and liable to defaulting on their loans.

“You’re on this mania curve. At some point in time there’s got to be a leveling off,” said Borg on CNBC’s Power Lunch. Bitcoin has proven extremely resilient this year, shaking off negative news such as a Chinese cryptocurrency exchange crackdown without much fuss. It is not inconceivable, however, that a major global event, such as legislation emanating from the U.S. or South Korea, could send the price of bitcoin plummeting.

Newcomers to bitcoin have yet to experience a bear market. While bitcoin’s volatility is much gentler than it was in its earliest days, the cryptocurrency is still prone to swings, and like any asset is perfectly capable of heading south. Homeowners who mortgage their property and profit handsomely from bitcoin’s rise will feel rightfully vindicated. Not everyone can be a winner however.

When bitcoin was first born, many of its earliest adopters saw the peer-to-peer currency as a “bank killer”. It would be ironic if the digital currency’s rise – and subsequent fall – was to take a bite out of the banks due to a credit craze fueled by bitcoin.

https://news.bitcoin.com/americans-taking-mortgages-buy-bitcoin/