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You might have heard about this bitcoin thing; it’s been in the news a lot. Something to do with it passing $8,000…no $9,000…$100.000 no, wait, where are we now? It’s hard to keep pace. No one knows where bitcoin will be a day, week, or year from now, but at this moment in time, bitcoin is bigger than the following things.
Bitcoin surged past PayPal weeks ago, and is on course to double the market cap of the payment processing company very soon.
The world’s most famous fast food company has a market cap of $135 billion. Bitcoin, at $163 billion, looks supersized in comparison.
The enterprise computing giant has a market cap of $140 billion. Bitcoin is worth almost $25 billion more.
The current value of all Walt Disney stock is $155 billion. Who needs Disneyland when you’ve got the bitcoin roller coaster to ride?
You might have heard of GE; they were once the largest company in the world and still retain almost 300,000 employees. Bitcoin, on the other hand, has zero official employees, and yet is worth several billion dollars more.
And many more ……..
Dogecoin is the natural way a Democratic Capitalist country creates a cryptocurrency.
Doge is technology the US Dollar can use to move in and out of encrypted electronic states, just like bitcoin, but with more available than bitcoin, it allows the $1 mark to find a natural crypto ally in Dogecoin. And with all other fiat currencies moving in and out of Doge, $1 or even $10 a Doge is reasonable in five years.
Bitcoin’s future is in Macro transactions. $1,000,000 to 1 BTC. For things like trading Mike Trout for 50 BTC and a 1st round draft pick.
So I think that equilibrium with $1 will come rapidly as more and more people move USD and other fiats into it and have less need to convert out of Doge as they will continue to transact with their Dogecoins instead of needing to convert to USD, though the value of your coins will always be in relation to what they are worth in USD and Bitcoin.
Tech savvy countries with unstable economies are turning to Bitcoin and Dogecoin. They may well become the pioneers of implementing Crypto into the physical marketplace (Argentina, Greece, Etc.)
Now is an excellent opportunity for people in bad economies to safe haven their money with little downside from what they are already facing and exponential upside.
For anyone making money in a country with a history of unstable currency, it would behoove them to immediately convert their money into something that has international backing. Something that will have the strength of the US Dollar flowing through it.
*Russian citizens you should definitely be buying as much Doge as you can get your hands on if it isn’t already too late.
What do you Shibes think? I always like this topic because it generates thoughts and ideas that help lead us to the moon!
Source: BitConnect EXPOSED!
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A week after Jamie Dimon made headlines by proclaiming Bitcoin a “fraud” and anyone who owns it as “stupid,” the JPMorgan CEO faces a market abuse claim for “spreading false and misleading information” about bitcoin.
Unless you have been living under a rock for the past week, you will be well aware of JPMorgan CEO Jamie Dimon’s panicked outburst with regard the ‘fraud’ that Bitcoin’s ‘tulip-like’ bubble is. To paraphrase:
“It’s a fraud. It’s making stupid people, such as my daughter, feel like they’re geniuses. It’s going to get somebody killed. I’ll fire anyone who touches it.”
One week later, an algorithmic liquidity provider called Blockswater has filed a market abuse report against Jamie Dimon for “spreading false and misleading information” about bitcoin.
The firm filed the report with the Swedish Financial Supervisory Authority against JPMorgan Chase and Dimon, the company’s chief executive. Blockswater said Dimon violated Article 12 of the European Union’s Market Abuse Regulation (MAR) by declaring that cryptocurrency bitcoin was “a fraud”.
The complaint said Dimon’s statement negatively impacted “the cryptocurrency’s price and reputation”.It also said Dimon “knew, or ought to have known, that the information he disseminated was false and misleading”.
“Jamie Dimon’s public assertions did not only affect the reputation of bitcoin, they harmed the interests of some of his own clients and many young businesses that are working hard to create a better financial system,” said Florian Schweitzer, managing partner at Blockswater.
Blockswater said JPMorgan traded bitcoin derivatives for their clients on Stockholm-based exchange Nasdaq Nordic before and after Dimon’s statements (as we detailed here), which Schweitzer said “smells like market manipulation”.
Blockswater works with blockchain-based assets based in London and Austria. Its full complaint is below:
Blockswater Files Market Abuse Report Against Jamie Dimon in Stockholm
Blockswater LLP believes that Dimon violated EU’s Market Abuse Regulation by “spreading false and misleading information” about bitcoin
STOCKHOLM/NEW YORK/LONDON/VIENNA, September 21, 2017 – Algorithmic liquidity provider Blockswater LLP filed a market abuse report with the Swedish Financial Supervisory Authority (FI) against JPMorgan Chase and Co. CEO Jamie Dimon. Blockswater believes that Dimon violated Article 12 of the European Union’s Market Abuse Regulation (MAR) by declaring that cryptocurrency bitcoin was “a fraud.”
The complaint filed with the Swedish authorities demonstrates how Dimon’s statement negatively impacted “the cryptocurrency’s price and reputation.” The document also lists evidence that suggests Dimon “knew, or ought to have known, that the information he disseminated was false and misleading.”
“Jamie Dimon’s public assertions did not only affect the reputation of bitcoin, they harmed the interests of some of his own clients and many young businesses that are working hard to create a better financial system,” says Florian Schweitzer, managing partner at Blockswater. JPMorgan traded bitcoin derivatives for their clients on Stockholm-based exchange Nasdaq Nordic before and after Dimon’s statements fueled volatility in the market. “That’s a clear case of double standards and it smells like market manipulation.”
Article 12 of the European Union’s Market Abuse Regulation prohibits the manipulation of markets through practices such as spreading false or misleading information. Nasdaq Nordic, where exchange-traded notes on bitcoin are listed, defines the term “market manipulation” in accordance with the EU’s definition as “dissemination of information through the media, including the Internet, or by any other means that gives, or is likely to give, false or misleading signals as to Listed Products, including the dissemination of rumours and false or misleading news, where the person who made the dissemination knew, or ought to have known, that the information was false or misleading.”
FI confirmed receipt of the report but did not comment further except to state that the financial markets regulator “will handle it according to [FI’s] procedures.”
Blockswater LLP is an algorithmic liquidity provider for blockchain-based assets based in London (UK) and Vienna (Austria).
However, some experts said the bitcoin price could bounce back.
It comes after underwear entrepreneur Michelle Mone last week announced the launch of £250million luxury property development in Dubai, priced in bitcoin.
Financial company CoinIRA chief executive Trevor Gerszt said: “Recent pullback in price was in large part a reaction to the announcement that China is banning ICOs (Initial Coin Offerings).
“To be clear, they have not made bitcoin illegal.
“There has been $1.5 billion raised this year in the ICO market which has gone largely unregulated and many have lost money due to scams.
“Smart investors are seeing this as a buying opportunity; this technology is here to stay and will continue to have long-term value.”
Yoni Assia, co-founder and chief executive of eToro added: “Most large financial institutions are well on the road to accepting the enormous potential of blockchain technology, and many have invested significant sums in research, product development, and directly in cryptocurrencies.
“Blockchain technology and cryptocurrencies have the potential to sweep away all of today’s incumbent financial institutions.”