• Skeleton Bitcoin
    Bitcoin

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

    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.…

  • news
    Bitcoin,  Media,  Ripple

    Must-reads for August 6, 2018

    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…

  • Bitcoin,  Cryptocurrencies,  Innovators,  Politics,  United States

    Government will control cryptos, says CEO of bank bailed out by government

    Just four months ago, Dimon called bitcoin a “fraud” and threatened to fire any of his traders caught trading the cryptocurrency on the company’s dime. “Someone is going to get killed,” he warned. Dimon even went so far to mock his own child, saying at CNBC’s Delivering Alpha conference, “My daughter bought bitcoin, it went up and now she thinks she’s a genius.” Since then, bitcoin has more than quadrupled, a return so lucrative that most traders would gladly go short their souls and take a punch in the jaw from their CEO as he escorted them out the door if they could get a glimpse of it. Thus, Jamie…