The long history of currency tells us that regardless of innovations made by the private sector, the government ultimately regulates and allocates them, and there is no reason to expect virtual currency to avoid that fate.
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Cambridge: Is Bitcoin the world’s biggest bubble today, or is it a gamble to invest in cutting-edge financial technology? My best guess is that in the long run the technology will improve, but the value of bitcoin will fall.If you don’t follow the history of Bitcoin, its value has increased by 600% in the last 12 months and by 1600% in the last 24 months. At over $4,200 (as of Oct. 5), a virtual currency is now three times more than an ounce of gold. Some Bitcoin advertisers are seeing this increase in the coming years. Much will depend on how governments respond. Will they tolerate anonymous payment systems that facilitate tax evasion and crime? for more visit caryii.onlineWill they create their own digital currency? Another important question is that with many successful Bitcoin “alt-coins” currency principles, it is extremely easy to clone or upgrade Bitcoin technology. What is not so simple is faking Bitcoin’s reputation and the huge app ecosystem that has developed around it. Currently, the regulatory environment is free for everyone. Concerned about the use of bitcoins for capital flight and tax evasion, the Chinese government recently banned bitcoin exchanges. Japan, on the other hand, has listed bitcoin as legal tender, ostensibly in an effort to become a global hub where fantastic competitors can enter the market. The United States is taking tentative steps to follow Japan in arranging the fantastic, even though the endgame is over. Far from clear. More importantly, Bitcoin doesn’t have to win every battle to justify a very high price. Japan, the world’s third largest economy, has a remarkably high money-to-earnings ratio (roughly 20%), so bitcoin’s success is a big win. Silicon Valley drilling executives investing in bitcoin and wasting money.for more visit caryii.onlineEthereum is the most important competitor after Bitcoin. Similar to Amazon’s, Ethereum’s broad purpose is to allow its users to use the same common technology to trade and write “smart contracts” for anything.for more visit caryii.online
At the beginning of October, Ethereum’s market cap was $28 billion.
Compared to $72 billion for Bitcoin.for more visit caryii.onlineRipple, the leading platform of the banking industry in reducing transaction costs for international and interbank relocations, ranks third with $9 billion. Behind the top three are dozens of new competitors.Most experts agree that the smart technology behind virtual currencies could have a wide rangefor more visit caryii.online of applications for cybersecurity, one of the biggest challenges to the stability of today’s global financial system. For many developers, the goal of finding a cheaper and safer payment method has dispelled the desire for bitcoins instead of dollars. But it is foolish to think that Bitcoin can replace money issued by the central bank. It is one thing for governments to allow small anonymous transactions with virtual currencies. In fact, it is desirable. But allowing large-scale anonymous payments to governments is a different matter, making it extremely difficult to collect taxes or combat criminal activity. Of course, as I noted in my latest book on past, present and future currencies, governments that issue large bills also run the risk of contributing to tax evasion and crime. But unlike virtual currency, at least cash is very highfor more visit caryii.online
It will be interesting to see how the Japanese experience plays out.
The government says it will force Bitcoin exchanges to detect criminal activity and collect information on depositors. However, you can be sure that tax evaders around the globe will find a way to anonymously obtain bitcoins abroad and then launder your money through Japanese accounts. Carrying paper money in and out of the country is a huge cost for tax evaders and criminals. By adopting virtual currency, Japan risks becoming a tax haven like Switzerland.for more visit caryii.onlineIf bitcoin does not disclose its actual name, it will be difficult to prove its current value. Perhaps bitcoin speculators are betting that there will always be a group of rogue states that allow the anonymous use of bitcoin, or even allow state institutions like North Korea to mine it.for more visit caryii.online
If there is a government, will the value of bitcoin fall to zero?
Can you see the full transaction? maybe not. Although bitcoin transactions require a large amount of electricity, with some improvements bitcoin can still exceed the 2% fees it receives from major bank credit and debit cardsfor more visit caryii.online.Ultimately, it is difficult to see what will stop central banks from creating and using their digital currency regulations until they win. The long history of money tells us that the private sector is invented and is ultimately managed and owned by the government. It is unknown where the value of bitcoin will go in the next few years, but there is no reason to expect the virtual currency to avoid such a fate.for more visit caryii.online
Wall Street is becoming more comfortable with cryptocurrencies as more traditional hedge funds announce plans to increase risk and increase digital assets, as bank management and investment-grade infrastructure shape the emerging assets.
About a third of hedge fund managers plan to add corrupt currencies to their portfolios.
Going forward, according to companies surveyed by EY for a recent report on the global alternative fund industry. The report considers digital assets an “area of focus” for investment managers in 2021, indicating that the latest research shows that cryptocurrencies are gaining momentum among regulators. big..for more visit caryii.online”Institutionalization of the Cryptocurrency Ecosystem”, which includes the emergence of more established exchange and remittance solutions or special security and storage systems that help protect investors’ assets investment as is the case with traditional financial products. Gives more importance to the coverage of funds and other alternative managers. According to EY, is actively participating in space. The regulatory clarification, which the industry is expected to see next year, could also be a “major milestone” in market growth.for more visit caryii.online”The regulatory framework is one of the biggest hurdles for many investment managers in adopting a broader approach,” Joe McCarney, EY’s global blockchain assurance lead, told Yahoo Finance. “But I think when you look at what’s happened so far from a management standpoint, you start to see movement.for more visit caryii.onlineIt didn’t take long for bitcoin to rise above the 50,000 level and chart patterns suggest its rally is in danger of ending in July as the largest coin plunges 4.9% on Thursday to $46,322. , while other tokens, including ether, were withdrawn. With the Bloomberg Galaxy Crypto Index. This drop reduces Bitcoin’s rally from the July 20 lows to around 60%
Bitcoin was traded at: 10:47,342 at 10:10 am. In New York.for more visit caryii.online
John Bollinger, the founder of Bollinger Bands, in a tweet suggested taking profit or hedging. Fairland Strategies’ Katie Stockton notes that D-Mark’s Time-to-Market indicators indicate a “falling” price for about two weeks.for more visit caryii.online