Just like the railways revolutionised the movement of people and goods, blockchains will revolutionise the movement of data. Until now, any transfer of value required a middleman. This one simple change — cutting out the middleman — opens up possibilities no one thought possible.
We are caught up in a fiat currency system; where governments determine the value of your money, the banks and the government can do what they like. Whereas with bitcoin, banks can’t do what they like. And governments can’t control the value of the cryptocurrency either.
Globally, we consume around 96 million barrels of oil every day. At this rate, worldwide reserves are estimated to dry up by 2039. Not far off at all. It’s the delicate balance of supply and demand that makes the crude oil price one of the best economic indicators. And for the past two years, it has been soaring.
In spite of a few days of attention-grabbing headlines, bitcoin has bounced bank and traders in China are as active as ever. Even though Jamie Dimon claims bitcoin is fraudulent, the crypto has found an unlikely friend over at the International Monetary Fund (IMF).
We have entered the new era of big data. A massive increase in the volume and speed of information that is stored, recorded, processed and analysed. There are three types of companies that you should investigate in order to potentially make money through data-led investments.
Should this bill pass into law, the market for crypto mining could skyrocket. So even if you’re not thrilled at the idea of spending thousands on a single bitcoin, if you follow the crypto trail, there is still plenty to be excited about.
Are people really and truly believing that blockchain is ‘it’. That some child genius, who knows no barriers, won’t be able to create something better…ever? And therein lies the common thread that scientologists have with crypto buyers: unquestioned belief.
There are rumours of China’s plans to shut down domestic bitcoin exchanges. The People’s Bank of China said it has fears about the legitimacy of ICOs. But really, what they fear is revolution. And they’re not the only ones.
Bankers feel threatened by disruptive currencies like bitcoin. And so they should be. Cryptocurrencies will do to the financial system what the internet did to the media. People will be able to choose another form of money that is beyond the government’s control.
There’s a revolution under way. Judging by the actions coming out of China, I’d say the pressure is increasing in the Middle Kingdom to get this monetary rebellion under control.
In one corner, we have the countries actively trying to integrate the alternative currency into their economy. In the other corner, there are the heavy-handed tactics being used to shut down cryptocurrencies.
That was the day the Dow Jones Industrial Average traded at a then all-time high of 14,093.08 points. But then, word got around that something inside markets was broken…
An ICO is a form of funding start-up that companies are beginning to turn to. On Monday, word filtered through markets that the Chinese government had declared all initial coin offerings (ICOs) illegal. China just needs to work out how ICOs can benefit them.
The biggest win-lose deals are those forced upon us by the federales. Yesterday, the Chinese authorities acted on their much-anticipated crackdown on cryptocurrencies by banning ‘initial coin offerings,’ or ICOs.
What bothers me most about this isn’t the lack of regulators or exchanges involved. It’s pointing out that digital tokens are created from ‘thin air’. While that’s true, the mainstream doesn’t bother to point this out about banks.