Úno 24

CNBC: Bitcoin Price Surge is Start Of ‘Inflationary Period’

· February 24, 2017 · 9:00 am

As Bitcoin hits all-time highs, the infinite wisdom of CNBC and the mainstream press surfaces again as a bizarre news piece suggests the start of an “inflationary period.”


Bitcoin Surge ‘Might Not Mean What You Think’ – CNBC

The segment from the network’s Trading Nation, which aired Thursday, also included commentators describing Bitcoin as a currency for “buying kidneys.”

Bitcoin is surging – but that might not mean what you think,” an accompanying article reads.

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Asked whether he had an “opinion” on Bitcoin, Dennis Davitt of Harvest Volatility Management said about among other things that he “really liked Bitcoin” but that “the big fear around Bitcoin is just one day when the governments come out and say, ‘We’re no longer going to allow this.’”

No mention was given to the cryptocurrency’s ongoing sustained price increase shaking off regulatory pressure – particularly in China – more effectively than at any time in its history.

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Indeed, despite Bitcoin’s volatility becoming less and less, Davitt suggested that the most recent increases were, in essence, a bubble.

“What people don’t put together is that… Bitcoin is moving into an inflationary environment,” he continued. Bitcoin is, in fact, a deflationary currency due to its limited supply and is currently deflating at a rate of around 4%.

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‘All The Blockchaining’

Nonetheless, Blockchain technology came in for more positive criticism – of sorts.

In a world of armageddon, currencies will go by the way of the countries, but Bitcoin will still have value because of all the blockchaining that’s going on behind it,” Davitt forecast.

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Commentators reacted to the piece and accompanying performance chart with ridicule, one Reddit user suggesting CNBC was “either stupid or has some agenda.”

With this, CNBC is slowly stooping to the level of CNN. The infamous comments made by US president Donald Trump about the network, in which he described it as “fake news” and “very fake news,” have gone on to make the politician an increasing ally of the cryptocurrency community.

Trump’s pick for budget chief in the form of ‘Bitcoin Senator’ Mick Mulvaney received positive feedback, along with close ties with crypto investor Peter Thiel.

Cashless Society Support

Fellow Trading Nation guest, Miller Tabak equity strategist Matt Maley, meanwhile voiced support for the “cashless society” being propagated by multiple governments worldwide.

Despite this is many cases being more of a ‘war on cash,’ Bitcoin has profited from increased use in crucible jurisdictions such as India and Venezuela. Maley said however that the cashless society “makes things easier for everyone.”

“It’s hard to be that bearish especially now that [Bitcoin] has become more mainstream,” he concluded.

What do you think about CNBC’s opinions? Let us know in the comments below!


Images courtesy of Shutterstock, CNBC, btcvol.info, plot.ly/~Bash

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Led 16

Registration for D.C Blockchain summit Now Open

Source: bitcoin

Blockchain Summit

The Chamber of Digital Commerce on January 13th announced that the first D.C Blockchain Summit is a go, and is scheduled to take place on March 3, 2016, at Georgetown University. While the press is expected to attend, the summit will be targeted at “providing government employees, nonprofit representatives, students, and blockchain experts a chance to explore opportunities and challenges surrounding blockchain technology in the nation’s capital.”

Also read: New York Public Transportation Going Contactless Is An Opportunity For Bitcoin

Kicking the conference off with a keynote address will be Don Tapscott, a world leader in economics and the social impact of technology. In his keynote, Tapscott will discuss the new generation of digital interaction emerging based on blockchain technology and explain how blockchain technology “enables secure and direct communication of value and money without a central bank or other intermediary to authenticate the parties or settle each transaction.”

Tapscott will be joined by other speakers from prominent and entities throughout different sectors such as John Beccia from Circle, Vitalik Buterin from Etherum, Marley Gray from Microsoft, Brian Kelly from CNBC, C. Alden Pelker from the FBI, Matthew Roszak from Tally Capital, and Jason Weinstein representing Steptoe & Johnson, DOJ.

“We are bringing together key thought leaders from industry, technology and government in order to create a unique and focused dialogue on blockchain public policy and industry standards.” – Perianne Boring, President of the Chamber of Digital Commerce

 Registration is now open for the D.C. Blockchain summit, with an exclusive rate offered to government employees and members of nonprofit organizations. In addition to this, the first 100 individuals to register for the event will receive a copy of Don Tapscott’s new book, The Blockchain Revolution: How the Underlying technology of Bitcoin is Changing Money, Business and the World.

 About the Chamber of Digital Commerce:

 The Digital Chamber is the Washington, D.C. based trade association dedicated to promoting the understanding, acceptance and use of digital assets and currencies. The Digital Chamber provides authoritative information to policy makers on digital assets and currencies.􀀀 For more information visit: www.digitalchamber.org.

Will you be attending? Let us know in the comments below!


Image courtesy of the Chamber of Digital Commerce

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Registration for D.C Blockchain summit Now Open

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Pro 31

Best Investments of 2015 The Winners Are: Bitcoin And Cash

Source: bitcoin

Best Investments of 2015 The Winners Are: Bitcoin And Cash

Investing this year hasn’t seen the best outcome for investors this year. In fact, 70% of people investing this year had lost money according to Openfolio. The app is an open interface that peers can use to compare portfolio performance. The two best investments of 2015 were cold hard cash and the cryptocurrency Bitcoin.

 

Also Read: Coinbase Tests Bitcoin XT, Gets Removed From Bitcoin.org

CNN Money reports that making money through investing this year was pretty tough unless you did what’s usually looked down upon Hold a lot of cash or they took a lot of risk. That means if you held tight to your physical cash this year and invested in Bitcoin you’d be in a pretty sweet position. Bitcoin has gained over 40% of its value in the last three months of the year alone and rests at $430 a Bitcoin when it was $230 at the end of the summer. Cash as well is usually advised not to be held as a safeguard or investment has beat out most U.S. stocks, commodities, and bonds.

Bitcoin has remained stable throughout the entire year as well with a single spike and robust uptrend during the 12-month projection. If you base your position from the beginning of 2014 till today, the digital currency was a sound investment. MarketWatch writer Jack Tatar, who invested in the Bitcoin Investment Trust, says the digital currency has made his “retirement portfolio look good again”. The writer explains the currency had some rough times the year before and he had lost out in 2014 but not this year. He explains:

“That’s right, the value of my retirement investment in bitcoins since I last wrote about it has doubled.”  

The last three months of the year has given more optimism to Bitcoin as the price hurdled through many new high points. And we all heard how great the blockchain was and how every investor wanted a piece of the technology they didn’t understand. JP Morgan’s Jamie Dimon said Bitcoin wasn’t a good investment but the blockchain just might be. However according to mainstream media’s Bloomberg, Forbes, CNBC, and a long trail of others Bitcoin was in fact a sound investment this year.    

The digital currency has reached some milestones this last month of December as well reaching 100 million transactions globally. The currency grows harder to attain as miners have unearthed 15 million Bitcoins from the depths of computational algorithms. But behind the price ticker and the code things haven’t been all sunshine this year. The block size debate has ruffled quite a few feathers and has people wondering what the turnout will be. Some believe that an implementation called Segregated Witness will help the issue while others do not. This particular issue has some investors worried it may not be resolved.

2015 ended with a record-high in venture capital raising $485 million into startups and infrastructure this year. Three times the total in 2013 and better than 2014’s $315 million worth of VC injections. That was the theory of the previous years downfall that lots of capital was being poured into infrastructure over the currency’s price. This year the virtual money got a boost of both record VC funding and the price had reached new highs. The best investments this year was Bitcoin and cold hard cash.

Which investments did you participate in this year? Let us know in the comments below. 


Images courtesy of Redmemes, Shutterstock, and Pixbay 

 

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Best Investments of 2015 The Winners Are: Bitcoin And Cash

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