• Skeleton Bitcoin
    Bitcoin

    UBS economist says Bitcoin is dying, and blockchain will be the better for it

    ‘Their designers are brilliant at maths. Their designers appear to know nothing about economics.’

    In a note titled “I come to bury Bitcoin, not to praise it,” Paul Donovan, UBS bank’s wealth management global chief economist, took the opportunity on Tuesday to predict that Bitcoin is not just an economic bubble, but one that has begun to burst. Looking at a drop in value from near $20,000 at the end of 2017 to as low as $3,200 last week, the longtime cryptocurrency skeptic felt confident enough to say: “The cryptocurrency bubble may be in its death throes. A loss of over 80% is not healthy. Economists said from the start that Bitcoin and the like would never be currencies. They never will be currencies.…

  • Bitcoin,  Ethereum,  Media

    Coinbase drips talent, crypto’s true believers, and Jamie Dimon goes off on Bitcoin (again)

    These are the crypto stories you should be following today

    Coinbase’s Head of Trading Resigns After Six Months on Job (CoinDesk) Hunter Merghart was hired by Coinbase’s general manager, Adam White, to run trading for them back in May. However, White jumped ship to become COO of Bakt in early October. Now Merghart has bailed from Coinbase as well. The company’s VP of corporate and business development, Emilie Choi, said Coinbase’s recent $300 million raise was for “a rainy day”. What if it’s just cloudy with a slight drizzle?   Nasdaq Wants Crypto Market to Stamp Out Fraud—With Its Help (Bloomberg) Crypto markets are more manipulated than Kanye West. So what can be done about it? Nasdaq wants to use…

  • Alt coins,  Bitcoin,  Canada,  Cryptocurrencies,  Ethereum,  Media

    Must-reads for September 13, 2018: Diamonds, Dimon, schmucks, and a trillion dollars worth of stories

    Here are the crypto stories you should be watching today

    Morgan Stanley Plans to Offer Bitcoin Swap Trading for Clients (Bloomberg) Morgan Stanley is joining the ranks of institutions by offering swaps to its clients, according to a report by Bloomberg’s Alastair Marsh. A source at the bank told Marsh that a swap product would launch once there’s enough institutional demand and after it gets through internal approvals. For the unfamiliar, a swap would essentially “swap” exposures of one asset with another. Let’s say fund has $1 billion in the S&P 500. They would then enter into an agreement with someone who has $1 billion in Bitcoin to trade returns. Thus if after the first three months the S&P 500…

  • news
    Bitcoin,  Media,  Ripple

    Must-reads for August 6, 2018

    Here are the crypto stories you should be watching today

    Wells Fargo says hundreds of customers lost homes after computer glitch (CNN) One of the nation’s biggest mortgage lenders is under fire yet again. This time, it acknowledged that 625 people were kicked out of their home because Wells Fargo’s computers allegedly had a “glitch” (Ah, yes, the “dog ate my homework” excuse). Not indirectly related to blockchain, but crypto enthusiasts are collectively tut-tutting and saying “See? I told you so. This never would’ve happened with blockchain tech.”   Goldman Sachs Is Considering a Custody Offering for Crypto Funds (Bloomberg) Funds looking for a bank to hold their crypto may one day have Goldman Sachs as a custodian, according to…

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