Goldman Sachs is ditching near-term plans to open a bitcoin trading desk, instead focusing on a key business for driving Wall Street investment in crypto (Business Insider) If you’re wondering why cryptos took a hit Wednesday, this is it. Remember all the hype about Goldman Sachs trading Bitcoin from HODL Bros and your brother’s friend who just seems a little off? You know what I’m talking about. “Goldman’s going to be trading it, bro! It’s going to the moon!” Yeah, well, it doesn’t look like that’s going to happen any time soon. “The bank is ditching plans to open a desk for trading cryptocurrencies in the foreseeable future, according to…
- Asia & Australia, Bitcoin, Cryptocurrencies, Ethereum, Media, Politics, Regulation, Ripple, United States, XRP
Media finally notices that Bitcoin and Ethereum are actually VERY centralized
The issue of how to classify and regulate cryptocurrency and blockchain technology is one that has stumped decision makers in Washington. This is unsurprising, given that offices in the Department of Defense were still using 8-inch floppy disks as recently as 2016. But while regulators in DC wring their hands over who has jurisdiction and whether certain coins are securities or not, many crypto observers fear that China, able to move with the speed and certainty of a dictatorship, is emerging as the gatekeeper of crypto. And that dominance is finally starting to rouse Beltway regulators who fear surrendering America’s digital future. Though China has a ban on trading digital…
Must-reads for August 23, 2018
SEC rejects bitcoin ETFs (CNBC) Crypto bros are used to getting a lot of rejections, especially on Tinder. Now it’s the Securities and Exchange Commission turn, rejecting seven bitcoin-based exchange-traded fund. Bitcoin prices remain above $6,000, perhaps because it was mostly priced in. Obviously, everyone read the Modern Consensus piece about why the SEC shouldn’t approve such ETFs in the first place. A cryptocurrency is making huge inroads in Venezuela as inflation runs wild — and it’s not bitcoin or the petro (Business Insider) Spoiler alert: The cryptocurrency they’re talking about is Dash. Hey, maybe one of the upsides to a regime marked by terror, failed financial planning, corruption, persecution…
Must-reads for August 21, 2018
Stop worrying about how much energy bitcoin uses (The Conversation) The title of this piece is misleading but that’s the product of editors trying to game social media by getting people to share stories since few people actually read the whole article. University of Pittsburgh researcher Katrina Kelly-Pitou argues, “Rather than discussing the energy consumption of bitcoin generally, people should be discussing the carbon production of bitcoin, and understanding whether certain mining towns are adding to an already large environmental burden.” ‘Bitcoin Jesus’ Is Having a Hard Time Winning Over True Believers (Bloomberg) Usage of cryptocurrencies as payments has slumped in the past several months. Transactions involving Bitcoin Cash,…
