Tuesday, April 23, 2019

What Will You Be Holding When The Dollar Dies?

from SGTreport:
Thanks for tuning in for this wide ranging update with the founder of Smaulgld, Louis Cammarosano.

Jeff Berwick – Return of Cryptos

by Kerry Lutz, Financial Survival Network:

Jeff Berwick understands trends. He was on the Bitcoin band wagon when it was $3 and was a seller at $19000+. Now he believes that it’s gone full cycle and will be going even higher than before. The time to buy something is when it’s beaten up and down. Perhaps he’ll be right again. Certainly debt keeps piling up and there’s no solution in site, so it could well be cryptos to the rescue.

Click HERE to Listen

Elon Musk: Bitcoin Has ‘Quite Brilliant’ Structure, Paper Money is Going Away

by Ana Alexandre, Coin Telegraph:

Technology entrepreneur and Tesla CEO Elon Musk said that Bitcoin’s (BTC) structure is “quite brilliant” and that digital currency is “a far better way to transfer value than pieces of paper.” Musk made his remarks during an interview on advisory services firm ARK Invest’s podcast on Feb. 19.

In response to a question about whether Bitcoin becomes the only native cryptocurrency of the Internet, Musk said that “the Bitcoin structure was quite brilliant,” and that he thinks that “one of the downsides of crypto is that computationally it is quite energy intensive. So there have to be some kind of constraints on the creation of crypto. But it’s very energy intensive to create the incremental Bitcoin at this point.”

Fractional Reserve Bitcoin Scheme Implodes In Mysterious Circumstances

by Mish Shedlock, The Maven:

The only person with keys to accounts at QuadrigaCX died in mysterious circumstances. All the crypto money vanished.

Russia Announces New Monetary System

by Tom Luongo, Tom Luongo:

Two roads diverged in a wood, and I—

I took the one less traveled by,

And that has made all the difference.


Back in 2017 I talked at length about Russia’s growing love affair with cryptocurrencies. From Venezuela’s Petro to the announced Crypto-ruble, there has been a lot of smoke when it comes to cryptocurrencies actually being used to facilitate real world transactions, but precious little fire.

Russia Prepares To Buy Up To $10 Billion In Bitcoin To Evade US Sanctions

from ZeroHedge:

While the market has been increasingly focused on the rising headwinds in the global economy in general, and China’s economic slowdown in particular, while the media is obsessing over daily revelations that Trump may or may not have colluded with Russia to get elected, a far more critical, if underreported, shift has been taking place over the past year.

As we reported in June, whether due to concerns over draconian western sanctions and asset confiscations following the poisoning of former Russian military officer Sergei Skripal, or simply because it wanted to diversify away from the dollar, Russia liquidated virtually all of its Treasury holdings in the late spring and early summer, in the process sparking a major repricing of the 10Y US Treasury, whose yield jumped from 2.70% at the start of April to a high of 3.10% in May, a move which economists were struggling to explain at the time.

Keiser Report: Should individuals campaign to get corporate rights? (E1331)

from RT:

In the second half, Max interviews bitcoin educator, programmer, and entrepreneur, Jimmy Song, about the latest happenings with regards to building layers on bitcoin. They also discuss his new book, available for pre-order, ‘Programming Bitcoin: Learn How to Program Bitcoin from Scratch’, based on his blockbuster bitcoin course.

BIS: 70% of Central Banks Involved in CBDC Research, Only Several Have Concrete Plans

by Marie Huillet, Coin Telegraph:

A new report published on Jan. 8 by the Bank for International Settlements (BIS) has found that seventy percent of central banks worldwide are conducting research into central bank digital currency (CBDC) issuance. However, concrete plans for implementation and motivations vary considerably across contexts.

The BIS is an organization based in Switzerland made up of 60 of the world’s central banks, and has to date devoted a number of major reports to both decentralized cryptocurrencies and CBDCs. The latter are distinct from the former in that they are digital currencies issued by a central bank, whose legal tender status depends on government regulation or law.

Bitcoin ATM Producer Moves to Switzerland Due to Regulatory Difficulties

by Ana Alexandre, Coin Telegraph:

Bitcoin (BTC) automated teller machine (ATM) manufacturer Lamassu has moved to Switzerlanddue to regulatory difficulties in other countries, according to a blog post published Jan. 1.

Lamassu — now called Lamassu Industries AG — has moved to the Swiss canton of Lucerne, because the firm wants “to be in a place where rules are well defined and regulators are pro-innovation.”

Lamassu revealed in the post that its applications to open an account were rejected by 15 banksbecause it produces terminals for Bitcoin, while not taking part in trading or storing digital currencies. Additionally, the company was purportedly rejected by payment processor Stripe for having the word Bitcoin on their site.