‘Maybe bitcoin is a kind of a bubble,’ Goldman Sachs CEO Blankfein says

'Maybe bitcoin is a kind of bubble,' Goldman Sachs CEO Blankfein says

  • Bitcoin has gained a lot of fans recently, but Goldman Sachs CEO Lloyd Blankfein is not one of them.
  • In an interview with CNBC’s Kayla Tausche, he said that “maybe bitcoin is a kind of a bubble,” adding: “I don’t like it.
  • Blankfein’s reason for not trusting the cryptocurrency is simple, he said: “I’m kind of an old dog to be absorbing that kind of a new trick.”
  • Bitcoin has soared more than 600 percent this year.
  • On Thursday, the cryptocurrency traded down 3.9 percent at $7,172.80, but remained near a record high.

Blankfein’s reason for not trusting the cryptocurrency is simple, he said: “I’m kind of an old dog to be absorbing that kind of a new trick.”
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Wealthy Remain Curious But Skeptical About Bitcoin, UBS CEO Says

Wealthy remain curious but skeptical about bitcoin, UBS CEO says

  • Photographer: Chris Ratcliffe/Bloomberg – – UBS Chief Executive Officer Sergio Ermotti said the world’s wealthiest are staying on the sidelines when it comes to crypto-currencies.
  • While JPMorgan Chase & Co.’s Chief Executive Officer Jamie Dimon famously panned bitcoin last month , saying he’d fire traders who bet on it, many financial firms have been exploring ways to leverage the blockchain technology underpinning crypto-currencies.
  • More from Bloomberg.com: The Smartest Americans Are Heading West – – Bitcoin has surged more than 300 percent this year, drawing the attention of hedge funds and wealthy individuals.
  • China cracked down on crypto-currency exchanges in September, while the U.S. Securities and Exchange Commission said in July that sales of some new digital currencies would be subject to rules just as equities are.
  • More from Bloomberg.com: Steel Firm Faked Data for Metal Used in Planes and Cars – – Read Wealthy Remain Curious But Skeptical About Bitcoin, UBS CEO Says on bloomberg.com

UBS Chief Executive Officer Sergio Ermotti said the world’s wealthiest are staying on the sidelines when it comes to crypto-currencies.
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Jamie Dimon lays into bitcoin again, says it’s ‘worth nothing’

#bitcoin = 🌷mania + monopoly 💰 #fakecurrency $BTC $crypto #Bitcoin

  • JPMorgan Chief Executive Jamie Dimon has laid into bitcoin and digital currencies once again, warning that governments will shut them down if they grow too large.
  • Dimon was concerned that with bitcoin, ethereum and various Initial Coin Offerings (ICOs), there are now cryptocurrencies everywhere.
  • Dimon warned that governments will eventually crack down on cryptocurrencies and will attempt to control it by threatening anyone who buys or sells bitcoin with imprisonment, which would force digital currencies into becoming a black market.
  • These are the latest comments from Dimon attacking bitcoin.
  • Dimon’s comments came under criticism from several bitcoin investors and experts.

JPMorgan Chief Executive Jamie Dimon has laid into bitcoin and digital currencies once again, labeling it a “novelty” that is likely to end badly.
Continue reading “Jamie Dimon lays into bitcoin again, says it’s ‘worth nothing’”

Jamie Dimon lays into bitcoin again, says it’s ‘worth nothing’

Jamie Dimon lays into bitcoin again, says it’s ‘worth nothing’

  • JPMorgan Chief Executive Jamie Dimon has laid into bitcoin and digital currencies once again, warning that governments will shut them down if they grow too large.
  • Dimon was concerned that with bitcoin, ethereum and various Initial Coin Offerings (ICOs), there are now cryptocurrencies everywhere.
  • Dimon warned that governments will eventually crack down on cryptocurrencies and will attempt to control it by threatening anyone who buys or sells bitcoin with imprisonment, which would force digital currencies into becoming a black market.
  • These are the latest comments from Dimon attacking bitcoin.
  • Dimon’s comments came under criticism from several bitcoin investors and experts.

JPMorgan Chief Executive Jamie Dimon has laid into bitcoin and digital currencies once again, labeling it a “novelty” that is likely to end badly.
Continue reading “Jamie Dimon lays into bitcoin again, says it’s ‘worth nothing’”

Ethereum will match Visa in scale in a ‘couple of years’ says founder

#ethereum will match Visa in scale in a couple of years says founder #Visa

  • The mind behind Ethereum, Vitalik Buterin, is matter-of-fact about the crypto.
  • In short, he believes what interviewer Raval Navikant called “brain virus” is the true future of security and economics and, with the right incentives, Ethereum can replace things like credit card networks and even gaming servers.
  • “Where Ethereum comes from is basically you take the idea of crypto economics and the kinds of economic incentives that keeps things like bitcoin going to create decentralized networks with memory for a whole bunch of applications,” he said.
  • “A good blockchain application is something that needs decentralization and some kind of shared memory.”
  • Buterin doesn’t think everything should run on the blockchain but many things can.

The mind behind Ethereum, Vitalik Buterin, is matter-of-fact about the crypto.
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Why Motherboard Is Capitalizing ‘Bitcoin’ Again

  • In 2015, we elected to capitalize Bitcoin when talking about the system or protocol, and lowercase denominations of the currency: So, “I love Bitcoin, and I own many bitcoins.”
  • From here on out, we will capitalize cryptocurrencies when referring to the protocol or system—Bitcoin, Ethereum, Monero, etc.—but lowercase the denominations: “I love Ethereum and own a lot of ether.”
  • Bitcoin, for example, recently split off into two separate versions with nearly identical code and, most importantly, an identical transaction history up until the time of the split.
  • With this newly introduced confusion, our previous capitalization policy thrust us into the realm of value judgements: Should the new version of Bitcoin, called Bitcoin Cash, be capitalized when Bitcoin proper is not?
  • With yet another Bitcoin split on the way in November, it’s clear that the Bitcoin protocol (and community) is not as monolithic as we had presumed, and at the moment it’s not as resilient as other technologies we de-capitalize, like the internet.

A story about normalizing technology.
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The bitcoin bump has turned into a beating – VICE News

The Bitcoin bump has turned into a beating

  • Bitcoin and ether — both tech-based alternative currencies — essentially crashed over the weekend before rebounding sharply on Monday, racking up the kind of gains in one day that normally take six months or a year in the stock market.
  • After a brief moratorium on withdrawals, three of the China’s popular bitcoin exchanges in early June, just before the crypto markets’ peak.
  • The global bitcoin market is also facing uncertainty over at the end of the month that would affect the transaction ledger, or blockchain, attached to each coin.
  • Both, however, are trading well below their June highs; ether is down almost 30 percent, and bitcoin, almost 60 percent.
  • Despite the recent downward trend, the price of bitcoin has still nearly tripled over the last 12 months, while ether is up more than 10 times its price a year ago.

Two of the most popular cryptocurrencies have a bit of a hangover after a wild weekend they’re only now starting to recover from.
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