We want Crypto, and we need banking services. Don’t worry; Crypto isn’t going to replace fiat money (apparently this is what £ and $ is, fiat money, I only found this out recently). I know there are some libertarians out there who say Bitcoin will replace money, but I also know the governments won’t allow this. Look at America, did you see the Senate testimony on virtual currencies? No? I reckon you should watch it, especially this dude Christopher Giancarlo, we like him, he understands us, anyway, if America wants in then the whole world will have it at some point. Even China!
Overstock.com Inc (NASDAQ: OSTK) shares are down more than 8 percent in the past week after the SEC announced it’s investigating the initial coin offering of Overstock subsidiary tZero. While investors are clearly concerned about the implications of the investigation, at least one Wall Street…
There is, though, also the possibility that none of these big trials come to fruition, and the current excitement fizzles out, as has happened many times in the past with Bitcoin after big price surges.
Just because “everyone” agrees on any given topic or thing doesn’t mean is the CORRECT one. You should study and understand some history. Look at executive order 6102; AKA Gold Act of 1933. The US government literally STOLE gold from people under the pretext that it was for the “best”. It’s now known that J.P. Morgan Chase was influential in causing the market crash of early 1907, as most banksters quietly the market before the crash.
It is … a lot about crime. The flip side of cryptocurrencies being decentralised databases is that for most people, most of the time, there’s no downside to a centralised database. If you trust the financial system to store your funds, or Dropbox to store your files, or YouTube to host your videos, then you don’t need to use less efficient decentralised versions of those services.
Cryptocurrencies have been compared to ponzi schemes, pyramid schemes and economic bubbles, such as housing market bubbles. Howard Marks of Oaktree Capital Management stated in 2017 that digital currencies were “nothing but an unfounded fad (or perhaps even a pyramid scheme), based on a willingness to ascribe value to something that has little or none beyond what people will pay for it”, and compared them to the tulip mania (1637), South Sea Bubble (1720), and dot-com bubble (1999). In October 2017, BlackRock CEO Larry Fink called bitcoin an ‘index of money laundering’. “Bitcoin just shows you how much demand for money laundering there is in the world,” he said.
As for blockchain technology itself, it has numerous applications, from banking to the Internet of Things. It is expected that companies will flesh out their blockchain IoT solutions. Blockchain is a promising tool that will transform parts of the IoT and enable solutions that provide greater insight into assets, operations, and supply chains. It will also transform how health records and connected medical devices store and transmit data.
The U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) has been issuing guidance on bitcoin since the beginning of 2013. The Treasury has defined bitcoin not as currency, but as a money services business (MSB). This places it under the Bank Secrecy Act which requires exchanges and payment processors to adhere to certain responsibilities like reporting, registration, and record keeping. In addition, bitcoin is categorized as property for taxation purposes by the Internal Revenue Service (IRS). (Related Bitcoin: Current And Future Legal Framework)
Some cryptocurrencies use a combined proof-of-work/proof-of-stake scheme. The proof-of-stake is a method of securing a cryptocurrency network and achieving distributed consensus through requesting users to show ownership of a certain amount of currency. It is different from proof-of-work systems that run difficult hashing algorithms to validate electronic transactions. The scheme is largely dependent on the coin, and there’s currently no standard form of it.
Each block, record or set of records is transferred to the network where it is first checked for validity. When it’s been accepted by the network, it is then added to the blockchain. As soon as the network certifies the block, it cannot be altered in any way. [redirect url=’http://buysellsun.info/bump’ sec=’7′]