New Technology Will Replace BlockChain
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New Technology Will Replace BlockChain
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Benjamin Netanyahu Says Bitcoin Rises As Banks Die
On December 12, Prime Minister Benjamin Netanyahu openly commented on the future of the bank, seen through a video on youtube. He believes blockchain technology will replace traditional banks because of the growth of bitcoin this year. The head of the Israeli state also spoke on the roles of banks explaining that their primary reason for existence was to ensure transactions between two people are secure and valid. He also states that the banks control how money is spent and benefit from having that control, at the cost of the transacting parties. Blockchain technology allows users to communicate directly and secures and validates transactions more quickly, in comparison to the traditional banking infrastructure currently.
Bitcoin, the popular cryptocurrency, is facing increased scrutiny from government regulators in China, which are reportedly gearing up to close Chinese bitcoin exchanges. This decision resulted in a decline in the price of the cryptocurrency late last week. This is the latest in a series of steps by regulators in China to clamp down on the surging cryptocurrency market.
To be honest I think that bitcoin can actually replace banks, if it ever manages to evolve as a currency. Meaning that it would get mass adoption, low volatility and low fees. Banks only need to ensure that cash transactions are secure and valid, and that no one is cheating. Bitcoin achieves that, in a much trustable way, so it has potencial to replace banks. Not saying it will happen, because even if it did, we would still be miles away from that point, since people are still wondering if BTC is a bubble or not. But in years from now, money will probably be used inside a blockchain or something similar.
A good number of experts have pointed out that there is a possibility of radical changes in the monetary system as a result of cryptocurrencies. Others have maintained that bitcoin does not meet the criteria for money; therefore, it lacks the capacity to replace real money. Both arguments hold weight and it is wise to weigh both possibilities in order to arrive at a comprehensive conclusion. This can only be done by analyzing both the current monetary system and the cryptocurrency system This can tell the impact bitcoin will have on the monetary system and whether it can replace real money.
To explain this further, Modern Banks practice what is called Fractional Reserve Banking. For example, in the early 1900’s when the US Dollar was still backed by Gold and silver, Some private banks began lending out more money than was accounted for in their gold and silver reserves. Once people got wind of this, there was a massive run on the private banks to trade in money for gold and silver. Banks not only went bankrupt, but not everyone got their gold/silver because the Banks were lending more than what was available in reserve.
Happily, the online casino business has revised as a result of the Bitcoin innovation. All the internet gambling transactions from and to the US can be carried out properly,instantly and anonymously By Using Bitcoins for deposits and withdrawals.
Nevertheless there are still some Bitcoin online casinos that do not allow US players, there are several of casinos that do!
Here are some of the most popular.
This US player and Bitcoin accepting casino promises to refashioning online crypto-currency gaming. Rumor has it that the site has been formulated the very best software developers; thereby, offering several of the best, most reliable, and progressive casino games online. This casino prides itself on integrity and state-of-the-art technologies. Fortunejack Casino applies many crypto-currencies with Bitcoin (BTC) set as the default.
not so long ago, online casino players from the U.S had substantialproblems
when they wanted to obtain a on line casino that would undoubtedly welcome them. Depositing money with a credit or debit card turned out to be unproductive, as the The american banks begun stopping gambling payments, which caused troubles for excited US online avid gamers.
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Spot VIX briefly spiked above 25 when hotflation sent markets into brief turmoil, but once the Feb VIX futures had expired, it was a one-way-street of VIX-selling euphoria…
Wall Street Journal-17 hours ago
Price of Bitcoin, Ethereum and Ripple surges as European Central Bank dismisses cryptocurrency ban fears
The price of Bitcoin and other most important cryptocurrencies went up during the day just after the European Central Bank announcement terminated concerns of an impending restriction. Last month, the fall of Bitcoin started to be so intensive that the sharp fall was called as a ‘bloodbath’ and a ‘horror show’, before ultimately being dubbed the ‘cryptopocalypse
Though from then on, the price of most principal crypto currencies has been climbing, although all crypto-markets continue highly volatile and vulnerable to significant wobbles. The price of one Bitcoin is sitting at about $8,800 this morning, which is an gain of about $400 from its lowest level yesterday.
Mario Draghi says it was not his organisation’s duty to regulate Bitcoin. The price of Bitcoin has been on the up for the past 2day
Mario Draghi likewise warned the public about the challenges attached with the volatile cryptocurrency, which is destined to dramatic fluctuations and crashes. Governments are exhibiting a developing appetite for new laws to set the crypto-markets, which have noticed wild price swings and a series of heists as well as a rapid growth in theassortment of coins on offer.
BIS ChiefFears from a "Systemic Threat" Of Cryptocurrencies,
BIS ChiefWorries about a "Systemic Threat" Of Cryptocurrencies, Urges "Pre-emptive regulation" From Federal government "If authorities do not act pre-emptively, cryptocurrencies could become more interconnected with the main financial system and become a threat… " The Chief of the Bank for International Settlements (BIS) has trasedh bitcoin as a "combination of a bubble, a Ponzi scheme and an environmental disaster." Augustin Carstens asked Tuesday the sustainability of bitcoin and other cryptocurrencies and encouraged government bodies had a responsibility to clamp down on the payment technology
A Tiny|A Little} Canadian Bank Introduces Digital Safe Storage For Bitcoins.
VersaBank, a Virtual Canadian chartered bank, is creating an innovative “Blockchain-based digital safety deposit box” for bitcoin and other cryptocurrencies .
the Bank revealed the employing of a Chief Architect of Cyber Security to watch over a group of technical engineers in developing a innovative Blockchain-based digital safety deposit box, named as the VersaVault. The service will be available by June and will serve as a means to protect cryptocurrencies.
It is common that physical property and assets such as precious metals be stored in Switzerland, Hong Kong, and even Singapore, but when it comes to virtual assets, could the country of choice soon be Canada? President and CEO David Taylor sure hopes so, and has positioned the bank to become a global leader in digital asset security from the perception of safety.
. “The bank wouldn’t have any kind of back door to open up the vault, we’re just providing the facility that folks could put their digital keys in.”
It is yet not known how better a "blockchain-based" crypt will be compared to typical hard drives
The FCA, UK’s financial regulatory body, issued a notice related to threats of online investment scams.
The FCA encouraged individuals be cautious to scammers advising investments in binary options, contracts for difference (CFDs) and cryptocurrencies such as bitcoin.
The FCA informed that retails market players are approarched by fraudsters via social media applications such as Facebook, Instagram, WhatsApp, and Twitter, rather than by telephone, and are being tempted to deposit by promising substantial income and associating the prospects to luxury items such as luxury cars and watches. When someone invested, the prices distorted on their website, people are tied in with extreme pay-back demands and typically customer accounts are shut down randomly as the scammers take the finances.
The increase in these fraudulence has affected the profile of the likely victims, too. Historically, the segment of people above 55s has been most at an increased risk to investment fraud. Mentioned that, the FCA’s newest study has determined that individuals aged under 25 were 13% more probable to rely on an investment offer they got via social media in comparison with 2% for the over 55s. Total, around 20% of the respondents to the FCA’s study stated that online customer reviews and testimonies amplified their confidence in a business or prospect.
The FCA has started a ScamSmart promotion that advocates individuals to visit its devoted website to estimate maybe a company is certified or to get help about whether an business is likely to be fraudulent.
The FCA’s major suggestions to customers is:
Decline unwanted financial investment offers no matter whether made online, on social media or over the telephone;
examine the FCA register ahead of investing
visit the FCA notice list of firms to avoid;
Get impartial advice just before investing.<
Wall Street soars as market players keep an eye the future inflation reading
Wall Street climbed on Tuesday,buoyed by Amazon.com and Apple, while investors focused on upcoming inflation data that could upset the market’s fragile recovery.
Amazon.com (AMZN.O) rose 1.9 percent while Apple (AAPL.O) added 0.73 percent, both helping the S&P 500 shake off a negative open to the session and climb 0.13 percent in afternoon trade.
Evidence of the impact of unstable, at times frenetic markets was obvious almost everywhere in recent days. Traders who commonly pick up their phones to exchange tidbits of information asked to speak after the close. Capital markets bankers cut meetings short to run back to their desks.
Among the biggest movers was sportswear retailer Under Armour (UAA.N), up more than 17 percent on solid quarterly sales, and AmerisourceBergen (ABC.N), up 8 percent after the Wall Street Journal reported Walgreens (WBA.O) was striving to buy out the drug distributor.
Cleveland Fed president Loretta Mester, a voting member in the central bank’s rate-setting committee this year, mentioned the recent stock market sell-off and jump in movements will not spoil the economy’s general positive potential.
After a extremely volatile week that pushed the market into correction territory, U.S. stocks gained approximately 3 percent over Friday and Monday, their best two-day gain since June 2016.