Crypto learning curve seems steep for U.S. Lawmakers but one lawmaker is willing to accept Bitcoin for donations. Congressional hearing on Cryptocurrencies devolves into Bitcoin bash fest during which one of the Senators let slip that Bitcoin hurts government control of the dollar. All of this regulatory talk, the banning of ads on Google (possibly Twitter), the effects of Mt. Gox trustee’s $400 Million sale, and Fed Hikes, could be the cause of the recent drop in the Crypto market.
The market charts are a sea of red with Bitcoin falling to 5-week low as Ethereum drops below $600. As Bitcoin slides, Tether trading inches up in influence. The Bitcoin fad is fading – for now. Could the Bitcoin craze be cooling? Not quite sure because small business owners are becoming more comfortable with taking Bitcoin as payments according to a recent survey. Want your salary in Cryptocurrency? It could happen sooner than you think. Speaking of your salary, there are three things you need to know before buying Bitcoins with an IRA: 1. Control your own private key, 2. Understand the fees involved before starting, and 3. Consider the risks involved & nature of the Cryptocurrency market.
While the excitement over the price of Cryptocurrencies might be cooling, the adoption of Blockchain is heating up. Consider the following:
- Combating the financing of terrorism procedures (Eastern Caribbean Central Bank)
- Making autonomous cars safer (BMW/Mercedes/Porsche/Toyota)
- Combining it with Artificial Intelligence (IBM)
- Reduce operating cost and increase supply chain visibility (Anheuser-Busch)
- Monetizing your personal data (Kind Ads)
- Voting (Moscow)
It’s clear that Blockchain technology will continue to make an impact and the use cases are increasing. It may even be leading to job creation. Goldman Sachs firm Circle to create 100 new Crypto-related jobs.
Globally, Taiwan Central Bank Chief cautious on Central Bank Crypto, Major South Korean exchange Bithumb partners with Bitpay to corner $200 Bln market, Crypto investment firm violates securities law, warns Philippines authorities, Australia warns of fake tax collectors demanding Bitcoin, Meet the man who advocates Bitcoin for African economies, Brazilian officials caught using Bitcoin in $22 Million scam, and Coinfloor to launch world’s first physically settled Bitcoin futures. Go down the rabbit hole click HERE for all the articles from the past 24 hours.
Happy Investing and Trading!