Fidelity is going to be offering cryptocurrency to institutional investors: https://www.bloomberg.com/news/articles/2019-05-06/fidelity-said-to-offer-cryptocurrency-trading-within-a-few-weeksFidelity Investments, which began a custody service to store Bitcoin earlier this year, will buy and sell the world’s most popular digital asset for institutional customers within a few weeks, according to a person familiar with the matter.
The Boston-based firm, one of the largest asset managers in the world, created Fidelity Digital Assets in October in a bet that Wall Street’s nascent appetite for trading and safeguarding digital currencies will grow. It also puts Fidelity a step ahead of its top competitors that have mostly stayed on the sidelines so far. The firm said in October that it would offer over-the-counter trade execution and order routing for Bitcoin early this year.
Fidelity would join brokerages E*Trade Financial Corp. and Robinhood in offering cryptocurrency trading to clients, though Fidelity is only targeting institutional customers and not retail investors like E*trade and Robinhood, said the person, who asked not to be named discussing private matters. A study released by Fidelity on May 2 found that 47 percent of institutional investors think digital assets are worth investing in. They're doing this because they think there is considerable demand from institutional investors. |
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I can not understand one thing, why they postpone Brexit? And in the Ostolny, I completely agree with you, Bitcoin is growing regardless of brexit!
Parliament didn't like the deal the EU was offering. At the same time the government hadn't fully finished it's preparations to leave without a deal. Hence the postponement. |
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One thing that i have realized it would be off a high importance to the crypto community is we having some online marketing platforms such as Amazon and Ebay that would accept cryptocurrencies so that we can actually spend our cryptocurrencies in our daily lives.
Overstock (American online retailer) accepts bitcoin. And bitcoin has Open Bazaar, which accepts cryptocurrencies: https://openbazaar.org/People keep saying, "I wish retailers accepted crypto" - but when they do, they don't buy anything from them. It's use or lose it. Retailers will disable the "pay by crypto" option if sales are low. |
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Citizens of Venezuela already do it. As do Nigerians and many underbanked regions of the world.
And their experience suggests having to deal with vey high fees. The unbanked pay way more to transact stuff than people with a debit card. Crypto does work well when fees are low, but when they spike, they're worse than western union. Until there is a huge network of retailers etc that accept crypto, being banked will always be the superior option. |
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Joseph Stiglitz, a Nobel-Prize winning economist, says cryptocurrencies should be shut down. He worries that they enable illicit activity by making money transactions less transparent. Still, he sees the value in digital payments systems and supports electronic use of government-backed currencies like the dollar. “I’ve been a great advocate of moving to an electronic payments mechanism. There are a lot of efficiencies. I think we can actually have a better regulated economy if we had all the data in real time, knowing what people are spending,” he says. https://www.cnbc.com/2019/05/02/joseph-stiglitz-we-should-shutdown-the-cryptocurrencies.htmlCash makes transactions less transparent too. It's telling that he wants to abolish cash, and wants to abolish cryptocurrencies and is in favour of a govt-controlled crypto. This is about power, not efficiency or transparency. |
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So how can a cryptocurrency like bitcoin help in making economy and life of people better? Fiat, whatever the reasons, is still convenience to use these days and it is still the main chrrency that drives every nation's economy. Fiat and banks will continue to exist as long as the people need it will take time before cryptocurrency will eventually replace it.
It helps as a store of wealth, not as a currency. Say you had $50,000 in US dollar bills and $50,000 worth of bitcoin. Which would you spend first? the dollar bills of course. The bitcoin will be kept back for emergencies as it stores it's value better. |
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The revenue from the fees is nothing compared with revenue that comes from the listing a coin. I heard even an ico paid 5 millions dollar for listing on binance.
with the increasing number of ico who register in the exchange, of course this will further increase the price of exchange coins themselves. so that more and more traders will stop and give life in the exchange listing coins fee depend on exchanges reputation.if they have huge daily volume trading and good security ofcours many projects and traders interested.moreover if they have feature community voting that used exchanges token. Don't forget that decentralised exchanges exist too - the so-called Dex's. For example, Open Ledger: https://dex.openledger.io/You don't need to pay a fee to list on a dex. The real question for researchers is why users prefer the centralised exchanges instead of the dex's. Is it because the centralised exchanges advertise and the dex's don't? |
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Despite your love to financial studies it seems like you've been missing your classes a lot because putting all your investments into crypto is a very bad move. All your funds that you saved for traveling or emergency cases are not considered as investments.
Skilled investors consider all cryptocurrencies as risky assets and even if they invest there then it would only take like 1-2% of their portfolio. In your case it would be up to $1 each month.
He's young (you can tell because he is living with his parents). Young people can afford to take risks because they have their whole lives ahead of themselves. So putting his money into crypto is fine at this stage. The time to switch to more risk-free investments (cash, bonds etc) is when you get married, start a family and buy a house. At that stage you can't afford any risk at all, and all savings needs to go risk-free till your children have grown up. |
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Market price gaps are already happening without the need for the SEC to add any other regulation for it. Just take a look at how South Korea has done it, they smartly made arbitrage trading impossible for foreigners just by requiring their traders to be based on their country before they even be allowed to trade in their exchanges. All local exchanges required their users to submit proper KYC with proof that they live in South Korea. And so far the way I see it with big price gaps during the 2017 bull run we saw they are somehow not influenced to the foreign markets, simply because no foreign body can infouence it directly.
Yes - but the reason the SEC refused to allow a traded ETF on bitcoin is precisely because they're not sure which exchanges should be allowed to set the price. As you said, during the 2017 bull run, the Korean exchanges were showing a higher price - should that price be in the basket of exchanges valuing the ETF? They were also worried about the Chinese exchanges and their fake volume (no longer a problem now as China has shut down all the exchanges). And of course there is the Bitfinex problem. IMO the SEC will only allow an ETF if the bulk of volume on crypto trading happens on regulated exchanges. As long as most of it happens on exchanges outside their jurisdiction, they'll continue to say no to an ETF. |
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Gold and bitcoin are not mutually exclusive investments. They share very similar properties in terms of their scarcity. Gold is great for people who prefer a physical store of value, wheres bitcoin is great for those who prefer a digital one. Of the two bitcoin is more portable, but as mentioned, gold has a much longer and more glorious history overall.
Bitcoin is actually easier to store in large monetary amounts. Imagine having to hire a vault to store $1 million worth of gold. But you can store that amount of bitcoins on a powerful laptop. It's easier to sell bitcoin too - and having an asset that is easy to liquidate is important. Stuff you can't sell is worthless. |
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Now stock market does look like it increased way more than it should but at least its a really legit system and even if it falls it can rebound back easily. That is why they are not similar to previous two bubbles.
As long as money on its own isn't worth much due to the very low interest rates and excessive money creation, stocks will very likely continue to go up. People rightfully expected the US stock market to crash, and for a short while it looked like it was doing so, but it rebounded and kept going up since then. Eventually the market will implode, but when that eventually is remains to be seen. It could easily continue pumping for a few more years. I rather not go short on any US stock unless the underlying company itself turns shit. Bitcoin compared to most stocks is such a steal, but that's not how most traditional bobos look at Bitcoin. It's firstly too risky in their book, and they still aren't comfortable buying into it. The market rebounded because they were convinced that the Fed would cut interest rates later this year (saving market participants and corporate borrowers just as they have to roll over their debt). But it now looks like the Fed is going to hold and may even raise rates later this year (if they're going to raise rates they have to do it this year, next year is election year and they will not want to do anything that is seen as political especially as Trump loves to blame the Fed for everything). |
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Seeing prices drop from nineteen thousand dollars to a low three thousand and then you have a confidence meltdown which gives you the temptation to pull the plug and leave the crypto scene altogether, but you choose to stick around and hope for the best....few months down the line not much activity happening and then suddenly you visit coinmarketcap which shows you most cryptos are in the green... THE FEELING IS PRICELESS and DOESN'T GET OLD  Bitcoin seems to have recovered from the Tether scare very quickly. Perhaps the market is maturing and isn't so scared about bad news any more. Do people remember the olden days when a simple "china has banned bitcoin" tweet would send the market down by 15%? |
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It seems to me that entrepreneurs will not yet widely use cryptocurrency in their business. In addition to the slow legalization of cryptocurrency by states and the lack of adequate infrastructure for using it as a means of payment, a high level of price volatility of cryptocurrency, which cannot be reduced, is of great importance. Business loves stability, especially in money. With cryptocurrency such stability is impossible.
Also lots of businesses got burned in Dec 2017, and the ones who withdrew payment by bitcoin, like Steam, are yet to return. I think a lot of them have decided that bitcoin is an asset or commodity rather than a currency. If businesses do adopt crypto, they might choose an alt instead, if they can find an alt that is stable and not volatile (which might be impossible!) |
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I have explored and tested out bank money in the past. I didn't like it.  Most people here don't seem to like it, yet continue to use it in all its glory because there is no alternative capable of completely replacing the old system. Fiat does its job extremely well when it comes to local day to day payments. In my case it's instant, free and there are certain rewards and even buyers protection. Considering that most average people don't conduct cross border payments, fiat in its current form (at least here in Europe) isn't going anywhere. No one censors people's coffee or sandwich or grocery payments, so there is nothing here that will convince people that fiat is bad. Banks need to implode in people's face in order to realize how crappy this financial system is. As long as that doesn't happen, people will continue being average joes just minding their own business. The only place the above is likely to happen is in the countries of the Eurozone, trapped as they are into restricritive policy that doesn't necessarily help them. Either they grow a pair and break out, or more likely German institutiions start campaigning about how dangerous it all is, at which point the whole thing fragments. |
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For me controlling the fear is the most important because it will collapse everything that we we are not in your control to position when fear is came to our life so it will affect the currency investment also when you are not making the proper decision it will always be not useful for the future.
It doesn't need to be either/or. If you are worried you have too much investment in bitcoin, then it makes sense to take some profts. Rockerfeller, one of the richest men of all time, said that "nobody got poor by taking profits". Forget about aboslute values - that depends on your entry point. Look instead at percentage gains. As the price goes up, take reasonable profits. If the price subsequently goes back down, buy back in again. Just recognise there are no rules, and that anything can happen. |
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The prevailing market condition seems to be the starting point for the growth. The price has increased big crossing $5800 today which is the continuation of the growth that got interrupted few days ago making the price fall and move around the $5200. There is nothing to stress as the bull market is in its early stage to make a big change in the market.
We still have the whole tether thing to negotiate: https://old.reddit.com/r/CryptoCurrency/comments/bjxjqe/us_justice_dept_seizes_part_of_missing_money_from/Now, it might be that bitcoin and the entire crypto space has matured to the point where stuff like the above is a mere bagatelle and nobody bats an eyelid about it. But just be aware of what is happening, just in case it tanks the market. Above all, be careful and don't keep coins on bitfinex. |
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internet infrastructure help them alot for accesing in cryptocurrency.they have more resources if compared with developed countries.and also their knowledge on step a head.
Infrastructure is indeed key. For example there is quite a bit of crypto adoption in Kenya - but that's because they have a good mobile phone network and coverage, and the Mpesa wallet system that allow storage of crypto as well as tradable mobile phone credits. Whereas in sub-suharan africa, there is very low internet coverage, very poor mobile phone coverage, and they simply don't use electronic means of payment at all, it's all cash. |
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So we can hope that in that year, bitcoin will be adopted by many people especially in the USA because of the recession.
That will be interesting if bitcoin finally being adopted by a big country and have power.
But that will be a waiting time for us if that will happen or not because we are still in 2019 and we need to wait a year before it's happening.
The chances for bitcoin to be accepted in many countries will wide open if people in the USA can accept bitcoin, so the other big country will follow what the USA does.
Recession makes it LESS likely that bitcoin is adopted. People need money to buy bitcoin - and in recessions money is scarce. Also inflation drops in recessions which means that hedges against inflation arn't required so much. Bitcoin will only take off if there is asset confiscation. Say AOC or someone like her gets to power in 2020 and starts confiscating wealth. Bitcoin then becomes very attractive as a means of storing and hiding wealth. Don't forget that the event that made bitcoin mainstream in 2013 was Cyprus confiscating savings balances of ordinary people deposited in banks to bail out the bankers. |
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I read not long ago that 75% of CFOs predict a recession in the USA by the end of 2020. Isn't that funny the coincidence with the BTC halving?  Italy has managed to avoid a recession, but there are still concerns, and I am not even talking about Germany. If a recession happens in Europe people/companies will switch to a safer currency like CHF, GBP, or NOK. I think it was Ben Bernanke that said that recessions usually occur because of a policy mistake - most often a combination of the Fed hiking interest rates too much and regulators ignoring problems building up in the financial sector. It looks like Jerome Powell has hit the sweet spot as far as interest rates go. He is still doing Quantitative Tightening. And he's trying to jawbone the corporate sector into deleveraging. If he is successful, then the expansion may last another four years. It's all to play for. |
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Fraud is now really a very big problem for the normal use of cryptocurrency. This is mainly due to two reasons - the slow legalization of cryptocurrency by states and the use of the Internet for fraud, in which it is not so easy to find a criminal, given that he can be anywhere in the world, and disasters of law enforcement agencies are limited by the physical boundaries of the state . This problem can be solved when the states themselves are included in the fight against fraud in cryptocurrency activities, and also establish clear rules for its use and establish clear rights and obligations of participants in the cryptocurrency market.
Fraud is really big in credit cards too. The difference is that credit card companies eat the costs and don't publicise the losses because they don't want to scare customers away from using their cards. As for fraud in the crypto space - there are a few things people can do to protect themselves. Don't keep money on exchanges. Use a different password for every exchange in case data is being stolen by an employee of the exchange (rather than outside hacking). Encrypt your wallet. Be careful when you click on results in Google - the top results are ads and often ads for phishing companies. And never never never click on links in emails. Instead bookmark the urls of the exchanges you use, and access them only through your bookmarks. |
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