Saturday, February 23, 2019

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.”

Keiser Report: The One Belt, One Road to Superpower (E1347)

from RT:


by Joseph P. Farrell, Giza Death Star:

You may or may not have heard of this, but in case you haven’t, Mr. J.T. sent this article, and it’s worth your attention. As most regular readers here are aware, I’m not a big cryptocurrency fan. In fact, I’m very skeptical of them. They started out being touted as “virtually impregnable”, and so they were, until people learned how to start hacking and stealing. Their biggest selling point, however, was something akin to a battle cry, that they would by-pass the central banks, and a new utopia of central-bank-free transaction would emerge and we’d have debt-free money (i.e., real money) and everything would be Wonderful.

Cryptos & Spirituality…and Other Deep Stuff!! (Bix Weir)

from RoadtoRoota:

A gold backed alternative to the dollar may finally be here in the Iranian PayMon cryptocurrency

by Kenneth Schortgen, Shotgun Economics:

Yesterday, U.S. Vice President Mike Pence severely chastised members of the European Union for defying Washington and for their plans to create an alternative to the SWIFT system.  Additionally, he threatened these nations with sanctions or worse if they continue to follow in their support of Iran and the JCPOA.

Yet ironically, Europe’s defiance to the U.S. regarding the Iranian JCPOA could have triggered the final battle for dollar hegemony in the world as multiple nations within both Europe and Eurasia are being recruited to ditch the reserve currency for a new gold backed cryptocurrency replacement.

I Was Asked About J.P. Morgan’s Blockchain-Based “JPM Coin.” I Ruthlessly Expand it to Other Payment Systems

by Wolf Richter, Wolf Street:

Are banks trying to send credit-card-processing fee-gougers Visa, MasterCard et al. the way of Friendster?

The crypto world went into a tizzy when J.P. Morgan announced “JPM Coin.” They thought that the bank had switched sides finally, after CEO Jamie Dimon had blasted cryptocurrencies as “fraud.” Given my own blistering rants about cryptocurrencies – such as Bitcoin Plunges to $3,738; Whole Crypto Scam Melts Down, Hedge Funds Stuck – I was asked what I thought about JPM Coin. And so I expanded my answer to others in the payment-processing industry, and what they may be trying to do to fee-gougers, such as Visa and MasterCard.

Keiser Report: Permanent QE (E1346)

from RT:

JPMorgan Chase to Launch ‘JPM Coin,’ Using Crypto to Speed Settlements

from Coin Telegraph:

United States banking giant JPMorgan Chase (JPM) is launching its own cryptocurrency in a U.S. banking first, CNBC reported on Feb. 14.

In a move commentators may see as unlikely, the multinational lender will use its newly developed asset, dubbed “JPM Coin,” to increase settlement efficiency, initially within three of its operations.

Speaking to CNBC, Umar Farooq, who leads JPM’s blockchain focus, appeared buoyant on blockchain technology’s perspectives at the bank.

Two Pension Plans Take a Crypto Plunge

by Mish Shedlock, The Maven:

Two Virginia pension funds join a handful of institutions to invest in the crypto world,.

LOL! Court Orders Canadian Crypto Exchange To Pay $190 Million

from TruthNeverTold:

Bitcoin, Bitcoin Cash, Forks, Wars and The Future of Money with Roger Ver

from TheAnarchast:

Keiser Report: Lightning Storm (E1343)

from RT:

In the second half, Max talks to Jonathan Hales of who has developed a more censorship resistant alternative to Patreon

Keiser Report: Are We Back on a Gold Standard? (E1342)

from RT:

In the second half, Max talks to Bill Barhydt of Abra about their new product which will essentially create a bitcoin standard for the world by turning BTC into a unit of account.