|
Sounds like they are more skeptical of cryptocurrency than they are of government. The philosophical foundations of cryptocurrency were self-sustenance and freedom from government manipulation.
|
|
|
|
|
Why is there no mention of Petro in this article? There is an image, but not a word about it?
|
|
|
|
|
It will begin with emerging economies where there is not a reliable or trustworthy economic infrastructure. This is Africa, parts of the middle East, and parts of Asia. I think there will be too much demand for it there for any political force to stop. More advanced parts of Asia will be next. It may take a long time for cryptocurrency to become a mainstream payment medium in places where the financial system is generally trustworthy.
|
|
|
|
|
It's like they always say... when you criminalize crypto, only criminals will have crypto.
|
|
|
|
As you all know, last month Lagarde's discusses the dark side of crypto of which almost of all us see as an attack on crypto. However on her second official IMF blog post here: https://blogs.imf.org/2018/04/16/an-even-handed-approach-to-crypto-assets/, she seems to be very positive about crypto.
Fast, inexpensive
- Crypto-assets enable fast and inexpensive financial transactions, while offering some of the convenience of cash. Some payment services now make overseas transfers in a matter of hours, not days. If privately issued crypto-assets remain risky and unstable, there may be demand for central banks to provide digital forms of money―an idea we explore in the forthcoming Global Financial Stability Report.
- The underlying technology of crypto-assets—distributed ledger technology, or DLT—could help financial markets function more efficiently. Self-executing and self-enforcing “smart contracts” could eliminate the need for some intermediaries. Already, the Australian Securities Exchange has said it plans to use DLT to manage the clearing and settlement of equity transactions.
- Secure storage of important records is another promising use for DLT. Healthcare companies are studying how to use the technology to maintain confidential medical data while providing access to insurers and other authorized users.
- In developing economies, such advances can help secure property rights, increase market confidence and promote investment. In Ghana, where property ownership is often the subject of disputes, a DLT-based platform called Bitland promises to help solve the problem by securely recording land sales.
Looks like a strong word coming from her. We all know how she can impact the economy of a lot of countries. So I'm sure that with this kind of statement, I wouldn't be surprise if crypto in the next coming days will at least get a good pump. What do you guys think? The media will report "IMF Chief Craps on Cryptocurrencies," but her saying anything positive about it won't see the light of day in the mainstream financial media. |
|
|
|
|
Not an inherently evil use for blockchain and it could, no doubt, be used for some good, but totally averse to the founding philosophy of Bitcoin.
|
|
|
|
|
I think cryptos probably should be seen as a new asset class. Whether the IRS will see it that way remains to be seen. Definitely safe harbor rules are going to be needed and I'm all for eliminating the wash sale rules.
|
|
|
|
|
"One single idea may have greater weight than all the men, animals, and machines for a century." --Emerson
The president of IBM said in 1946 that there was a world market for maybe 5 computers. While it took nearly 30 years for personal computers to show up on the scene, the pace at which things change nowadays means that we will see blockchain rise in a relatively short time.
|
|
|
|
|
Not sure if the decision of one Islamic cleric had that big of an effect. But hopefully, it starts a trend and other Muslim clerics get on board with it. Here's hoping.
|
|
|
|
|
The Bitcoin mining in rural Washington is getting pretty hot. Chelan, Washington is where the public utility called a moratorium on bitcoin mining.
|
|
|
|
|
We will see, but if BTC breaks $10k, I will be on board with this prediction as well.
|
|
|
|
|
That's a good idea. There are a lot of people from other countries who come to Washington. If the fees are cheaper than traditional currency exchange, that would be a really great service.
|
|
|
|
|
Maybe people finally got their tax refunds lol. But seriously, I don't think this is enough to confirm it is back, but definitely a good sign.
|
|
|
|
|
I think cryptos with practical benefits are the future. That seems kind of obvious but there are many that are just stores of value or pegged to some other asset. Tokens that help manage intellectual property are useful for creators. But I'm sure they mesh well with the underlying philosophy of cryptocurrency.
|
|
|
|
Should we hold on to altcoins which we have invested and see the price dropping every moment or it will be better to sell them or hold.
Hold unless you really, really need the money. Stick it out for the long term. This is advice in case you studied the altcoin before investing in it so you believe in it, you know why you think it has potential. If you bought it without analysis, however, it might be better idea to sell if it's a shitcoin without use case. |
|
|
|
|
That's a shame. The excitement generated by legitimate cryptocurrency gives cover to fraudsters. This is a fact of life that comes along with any kind of success. But expect cryptocurrency in general to get the blame, although stock and insurance scams don't seem to have the same effect.
|
|
|
|
|
Makes sense for gold and Bitcoin to go together. They are both strong alternatives to fiat whose supply fluctuates with demand (i.e., not manipulated like fiat).
|
|
|
|
|
Well China does ban quite a few things and some of them are quite silly, but I wouldn't automatically think they are being overzealous by shutting down a blockchain conference. There are a lot of slimy ICOs out there. But, it's true that the government does have projects it favors for whatever (possibly corrupt) reason.
|
|
|
|
|
I agree. The news out of the Phillippines is good for crypto. I read the release from the BSP. Do they consider cryptocurrency to be "virtual currency?"
|
|
|
|
|
Hopefully we will get to a point where there is too much money to made from taxing crypto to ban it. Unfortunately, this also means aligning with the government's demands, which is going to be antithetical to the notion of holding the blockchain as infallible.
|
|
|
|
|
Show Posts
