Kvě 26

Bitcoin as a Store of Value Could be Worth $40K Within the Next Decade, Says Matt Hougan

· May 25, 2018 · 9:00 pm

Matt Hougan of Bitwise Asset Management believes that the price of Bitcoin could increase by 500 percent in the next ten years. Hougan hinges his prediction on the cryptocurrency becoming an actual store of value and the blockchain permeating several facets of human life.


Is Bitcoin a Store of Value?

Finding a consensus on any argument related to Bitcoin is almost a futile effort at this point. There’s the bubble argument, the economic definition argument, and of course, the store of value argument. Matt Hougan, in a recent op-ed for Forbes, examines the store of value debate for Bitcoin, drawing some interesting parallels with gold.

Right from inception, the virtual currency has been compared with gold. Some proponents are even in the habit of calling the crypto “digital gold.” Critics, however, dispute this idea, saying that the cryptocurrency cannot be compared to gold because it is highly volatile and, as such, cannot be a store of value.

Matt Hougan

One of the most basic definitions of a store of value is an asset that is both tradable and can be stored for future use. By this definition, a store of value must maintain some stability over a reasonable period. Bitcoin is a volatile asset, no arguments there. However, is the volatility exhibited by the number one crypto a misnomer in the finance world? It turns out the answer is no, and Hougan provides hard evidence.

A Little Bit of History Featuring the Post-1971 Gold Market

Today, gold is not only solid based on its physical form, but as an asset, it maintains some level of price rigidity. However, it wasn’t always so. In 1971, U.S. President Richard Nixon dropped the gold standard for the USD. The price of gold and the value of the dollar was no longer tethered together. What happened next? Well, the table below gives an idea of the wild volatility in prices of gold in the decade following 1971.

Gold pricesToday’s crypto critics would be bellowing that gold isn’t a store of value if they examined these figures. However, today, it is universally accepted that the precious metal is indeed a store of value. So, what has changed? The answer isn’t utility as some might point out. Gold has some industrial application use cases but that it is not enough to justify its current price. According to Hougan:

[Gold] is worth $1,300 per ounce because people are willing to pay $1300 per ounce for it as a store of wealth.

Bitcoin price chart

Bitcoin Mirrors Post-1971 Gold

Bitcoin is less than a decade old, which means it isn’t yet a fully formed asset. Hougan believes that expecting the cryptocurrency to behave like a fully matured asset is an argument that lacks economic merit. According to the cryptoanalyst, Bitcoin is passing through the two-stage process of rapid appreciation and declining volatility over time.

2017 saw a parabolic rise in prices that seem to have plateaued in 2018. The Bitcoin volatility, while still considerably high, is declining over time. This pattern exhibited by the number one crypto bears striking similarities to gold after 1971.

Bitcoin volatility chart

Speculative Investment Will Give Way to Real World Use

If Bitcoin follows the pattern set by gold, then it is well on its way to establishing itself as a store of value. Right now, the crypto is held as a speculative investment, but within the next decade, as blockchain utility increases, Bitcoin will become an even more significant part of global finance. The current market capitalization for the virtual currency is $130 billion, which is approximately two percent of the $7.5 trillion gold market cap.

In ten years, Bitcoin could comfortably hold 10 percent of the value of gold, which would mean a conservative price estimate of $40,000. A lot of this depends on how quickly real-world utility applications can be implemented for the cryptocurrency and the assumption that it continues on a similar trajectory to gold.

Do you agree with the argument that Bitcoin is like gold, and as such, a store of value? Will an increase in real-world utility drive the price of Bitcoin higher? Let us know your thoughts in the comments below.


Images courtesy of MarketsMuse, Forbes, Macrotrends, Shutterstock, and Buy Bitcoin Worldwide.

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Kvě 25

The Sweet Smell of Success: Unilever-Owned Schmidt’s Naturals Adds Bitcoin as Payment Option

· May 24, 2018 · 7:00 pm

There are a lot of odd things you can buy with Bitcoin – spy gear, lasers, alpaca socks, and now, high-end deodorant.


‘Scent or Payment Method’

Deodorant maker Schmidt’s Naturals is the latest company to let online shoppers buy its products with Bitcoin. Co-founder and CEO Michael Cammarata claims Bitcoin has accounted for 5 to 10 percent of online sales since they started accepting the cryptocurrency on May 14.

“It’s starting to be a percent of sales more than we expected,” he said in an interview with Cheddar.

The all-natural deodorant comes in scents like lavender, tea tree, bergamot, and cedar and will set you back about $9, or 0.0011 BTC, a stick. Schmidt’s is the first company owned by hygiene giant Unilever to accept cryptocurrency as a payment method.

Cammarata said:

It kind of was actually a last minute surprise. We got a lot of consumers that are like, ‘Can we pay with Bitcoin’? We were playing around with the idea a little bit and our tech team was like, ‘Should we do this should not do it?’

But he admitted they “weren’t that shocked” when the company’s social media savvy consumers asked to pay with Bitcoin.

“We have a lot of millennials and highly socially active consumers,” he said.

Schmidt's Naturals Deodorant Bitcoin

Shopping with Bitcoin

You can make purchases on Schmidt’s Natural’s site using Bitpay, a widely available Bitcoin payments provider found on Shopify and in popular mobile games by Zynga. When it comes to e-commerce and online shopping, Bitpay is the most ubiquitous.

But the service has had its fair share of controversy. Newegg is a Canada-based online computer and electronics seller that uses Bitpay. The payment provider came under fire last month when a Newegg shopper accused Bitpay of taking more than their share when it comes to network costs.

Regardless, Bitcoin is becoming more widespread as a way to shop online. And as Schmidt’s Naturals co-founder said, it will take consumers demanding more payment options to see it more commonly accepted.

“Whether it be a scent or a payment method, we are very highly engaged with our consumer,” Cammarata said.

What do you think about paying for goods like deodorant with Bitcoin? Let us know in the comments!


Images courtesy of Schmidt’s Naturals

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Kvě 21

Wall Street Cryptocurrency Trading is Imminent, Former J.P. Morgan Exec Says

· May 20, 2018 · 7:00 pm

The cryptocurrency market continues to be a trending topic in the world of finance. However, the question remains; when will Wall Street banks begin crypto trading? The day is closer than we think, according to a former J.P. Morgan executive.


Big Banks to Start Trading Cryptocurrency Soon

Amber Baldet, formerly of J.P Morgan believes that the big banks will soon start trading cryptocurrency. She made this declaration during an interview with CNBC. According to her, such a move is even closer than many people think. This revelation holds a fair bit of weight given that it is coming from someone with insider knowledge of Wall Street.

Baldet used to head J.P Morgan’s blockchain division before leaving the bank in April. Goldman Sachs, another prominent Wall Street has already announced plans to establish a bitcoin trading service. When launched, it will be the first ever Wall Street crypto trading platform.

Amber Baldet

Baldet, however, identified some critical issues standing in the way of broader crypto adoption by big banks. Lack of regulatory clarity and problems concerning custodial services are among the main challenges preventing a greater institutional presence in the market. The major banks have no secure crypto custody framework at the moment. This lack of trusted safeguards for cryptocurrencies might soon be a thing of the past, however. Both Nomura and Coinbase announced last week that they were launching crypto custodial solutions.

Search Engine for the Blockchain Ecosystem

Baldet also spoke about her new venture since leaving Wall Street. The former J.P. Morgan executive unveiled Clovyr at the recently concluded Consensus conference in New York. Clovyr is designed to be an app store for blockchain DApps. Commenting on the project, Baldet said:

There’s no way to discover what’s out there right now; there’s no Google for finding applications. The ability to discover apps is helpful, but the ability to build them is also encompassed in there.

Thus, Clovyr is more than a blockchain search engine; it is also a platform that allows developers to create useful DApps. Baldet has a lot of experience with developing blockchain solutions. She was an essential member of the team that created J.P. Morgan’s legacy blockchain project, Quorum.

Will the entry of the likes of J.P Morgan and Goldman Sachs be a good thing for the crypto market? Please share your views in the comment section below.


Image courtesy of Twitter @AmberBaldet., Shutterstock

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Kvě 11

Iran Turns to Bitcoin in Preparation for Renewed U.S. Sanctions

· May 10, 2018 · 8:00 pm

With U.S. President Donald Trump declining to renew a nuclear deal with Iran, citizens of the country are turning to Bitcoin. Iran is facing renewed sanctions from the United States which could signal the start of new economic problems. There are also reports that the Iranian government is looking to create a state-owned cryptocurrency.


Impending Economic Troubles

Fresh sanctions from the U.S. will adversely affect Iran’s exports especially oil which forms a considerable portion of its GDP. The country’s currency, the rial has lost a lot of ground on the U.S. dollar. This decrease in value follows several months of forex shortage and financial difficulties in the banking sector. As a result, the local economy has been declining with the situation expected to worsen with the issuing of fresh sanctions. The Central Bank of Iran (CBI) has tried to remedy the situation but seemingly to no avail. The apex bank unified the official and black-market forex rates, but the rial has continued to plummet.

A State-owned Crypto Solution.

There have been numerous reports that the Iranian government is developing a state-owned cryptocurrency. Jayad Azari-Jahromi, the country’s ICT Minister, announced in April that an experimental model of the local crypto project was ready. This announcement followed the ban placed by the CBI on Bitcoin and other cryptos. The country’s apex bank prohibited all banks and lending institutions from facilitating cryptocurrency transactions.

If Iran does develop a local crypto, it will be following in the footsteps of Venezuela. The Latin-American nation launched its petro cryptocurrency earlier in the year. Many see the petro as a way of circumventing economic restrictions affecting the country. In response, the United States has banned the petro, and this will likely diminish its exchangeability. If Iran decides to follow the same route, its local cryptocurrency will likely suffer the same ban.

Bitcoin to the Rescue

Bitcoin to the Rescue

Despite the Bitcoin ban, Iranians are still using bitcoin to send money out of the country. According to reports in the local media, residents of the nation have spent more than $2.5 billion in acquiring cryptos in recent months. The CBI ban, however, is expected to significantly reduce the outflow by making more significant transactions a lot more difficult.

Mohammad Reza Pourebrahimi, the Chairman of the Iranian Parliament’s Economic Commission, believes most of the crypto activities in the country are speculative investments. He also said that foreign cryptocurrencies are a threat to Iran’s banking system. As such, it is necessary for the government to develop a national virtual currency.

Can Iran navigate the problems brought about by economic sanctions using cryptocurrency? Let us know in the comment section below.


Image courtesy of Shutterstock, iStockPhoto

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Dub 15

Hong-Kong Based Exchange OKEx Plans to Move to Malta

· April 15, 2018 · 4:00 pm

OKEx, one of the largest exchanges in the world, has announced plans to move to the European island, Malta. This announcement came quickly after a similar announcement made by Binance, one of OKEx’s main competitors.


In an attempt to gain an understanding of the political climate around cryptocurrencies in Malta, OKEx’s executives met with the Maltese government. While many EU countries are taking a standoff-ish, if not downright hostile, approach to cryptocurrency, Malta – which aims to become a ‘global pioneer’ for cryptocurrency – has proven to be extremely welcoming to crypto and blockchain businesses.

Currently, OKEx only offers crypto to crypto trading along with a futures market. OKEx is currently based in Hong Kong, which has probably made it difficult for the exchange to obtain the required licenses to allow for a fiat gateway to be opened in collaboration with banking systems.  However, some suspect that with the move to Malta, that the exchange will open fiat to crypto trading, which will become an essential part of any successful exchange in the near future. 

OKEx CEO Chris Lee stated:

We look forward to working with the Malta government as it is forward thinking and shares many of our same values: the most important of which are protection of traders and the general public, compliance with Anti Money Laundering and Know Your Customer standards, and recognition of the innovation and importance of continued development in the Blockchain ecosystem.

Malta – a Global Pioneer for All Things Crypto

Since the rise of the cryptocurrency industry, Malta has been continually open to accepting companies who are looking for a bit more wiggle room with regard to regulations. As a result of this, Malta has established itself as the crypto and blockchain ‘go to’ locale as more startups and exchanges flock to the country.

Malta - a Global Pioneer for All Things Crypto

Earlier in 2018, Malta’s government announced their plans for a new segment of the government called the Digital Innovation Authority which aims to provide full legitimacy for blockchain and cryptocurrency companies alike.

It is unlikely that Malta will be averse to any legitimate cryptocurrency or blockchain company in the future as their policy plans indicate that they are willing to keep cryptocurrency rules minimal.

OKEx Chief Risk Officer and Head of Government Relations noted:

Malta’s Virtual Financial Asset Act is a solid foundation for the industry and the government to work together in fostering the nascent blockchain/digital asset industry. More specifically, Malta’s sound risk-based approach will help cultivate a responsible, compliant, and healthy ecosystem.

Do you think that the cryptocurrency and related technology industry will flourish in Malta? If not, where else? Let us know in the comments!


Images Courtesy of  AdobeStock, iStockPhoto

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Dub 10

Bank of America: History’s Greatest Bubble Has Popped, But For Real This Time

· April 10, 2018 · 4:30 pm

Ignoring pretty much every piece of information outside of Bitcoin’s chart, Bank of America has officially announced that the greatest bubble in history is popping, but for real this time. 


The Greatest Bubble in History

For at least the 279th time, Bitcoin is dead.

As noted by Bloomberg, Bank of America’s Chief Investment Strategist Michael Harnett made the claim that the gold standard of cryptocurrency’s bubble has popped in a Sunday note. “The cryptocurrency is tracking the downfalls of the other massive asset-price bubbles in history less than one year out from its record,” claims the media company’s report.

Additional explanations from the North Carolina-based multinational financial services company, however, are not provided.

price bubbbles

Conveniently Ignoring the Facts

Bank of America’s FUD (Fear, Uncertainty, and Doubt) comes at a time when Bitcoin is struggling to maintain price action above $7000. It also, conveniently, fails to take into account the dominant cryptocurrency by market capitalization’s past parabolic runs and subsequent falls, which illustrate that the current situation is — more or less — par for the course.

Bank of America also apparently glosses over the cryptocurrency’s major developments, including the exciting Lightning Network — a second layer payment protocol which enables instant transactions between participating nodes and solves the scalability problem plaguing Bitcoin’s recent history.

Furthermore, Bank of America seems to care less about the increased interest in Bitcoin trading from ultra-rich insitutional investors like George Soros and the Rockefeller family — both of which have officially signaled their intentions to trade cryptocurrency.

The bank also fails to mention the New York Stock Exchange’s interest in listing Bitcoin futures contracts and the SEC’s potential allowance of Bitcoin ETFs (Exchange Traded Funds) — both of which signal increased legitimacy.

Bank of America

America’s second largest bank has, however, expressed its fear of Bitcoin in the past. In February, Bank of America wrote in a Securities and Exchange Commission report:

The widespread adoption of new technologies, including internet services, cryptocurrencies and payment systems, could require substantial expenditures to modify or adapt our existing products and services.

The major bank has also contributed to the alleged popping of the Bitcoin bubble, having banned credit card purchases in the beginning of February — conveniently when the cryptocurrency market had just started to really roll downhill.

How much credence do you give Bank of America’s FUD-filled statements? Do you think Bitcoin is a bubble? Let us know in the comments below!


Images courtesy of Bloomberg, Reuters, and Bitcoinist archives.

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Dub 05

Experts: Cryptocurrency is ‘A Multi-Decade Trend’ and ‘Proxy for True Freedom’

· April 5, 2018 · 3:00 pm

2018’s cryptocurrency charts have you feeling blue? Don’t worry. According to some experts, there are still plenty of riches to be made by investing in market leaders.


‘Still way too early’

In 2017, plenty of individuals joined the new crypto-rich crew. However, many also became crypto-poor — having been left holding the bag after buying at all-time highs. Explained Invest.com Senior Analyst Jesse Cohen to Forbes:

It’s safe to say that the price action in the crypto market over the past few months has been very ugly. All the major coins have suffered steep double-digit declines since the start of the year and are all trading below their respective 200-day moving averages, which usually signals more losses ahead.

However — though nobody can predict the future — it would be foolish to assume that “Bitcoin is dead,” “the cryptocurrency bubble has popped,” or that any other FUD-filled statement repeated time and time again has finally come to fruition. Explains Cohen:

We’ve seen Bitcoin do this before, where it plunges sharply over a prolonged period only to violently bounce back to new highs in a short time. While it isn’t looking too hot at the moment, it’s still way too early to call the end of Bitcoin, or cryptos in general.

Bitcoin

‘A Multi-Decade Trend’

“Way too early,” indeed. In many respects, cryptocurrency and its underlying blockchain technology is only really starting to gain traction now, with the majority of projects still in their developmental stages. Meanwhile, most of those that are already developed are still struggling to gain mainstream adoption — something many digital currency proponents see as an inevitability. Aaron Lasher, BRD CMO and co-founder, agrees, saying:

The game isn’t over, Digital scarcity is a major innovation in money and value, and we’re in the initial stages of a multi-decade trend towards tokenization of assets.

He also goes so far as to call cryptocurrency’s potential life-changing, asking Forbes:

If sending money globally as easily as an email doesn’t impress you, how about the ability to store your life savings in your head, then walking your family across a war-torn border to safety?

cryptocurrencies

‘True Freedom’

Those who care less about the life-changing applications of cryptocurrencies and more about the potential riches and “true freedom” to be gained by speculating in the market also have reason for optimism. Explained Lasher to Forbes:

Getting rich with cryptocurrency is a proxy for true freedom, a personal financial situation that is largely immune to the politics, flaws, and vicissitudes of an interconnected, global system — an oasis of security and a platform for individual pursuits.

Do you think the cryptocurrency bubble has burst, or do you think the market has only begun to show its true potential? Let us know in the comments below!


Images courtesy of Shutterstock, Pixabay, and Bitcoinist archives.

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Úno 09

Shark Tank’s Robert Herjavec: ‘Cryptocurrency is the Future’

· February 9, 2018 · 9:30 am

Investor Robert Herjavec of Shark Tank fame is a big proponent of cryptocurrency, predicting that it will eventually replace cash.


One thing you can say about the principals on Shark Tank, it’s that they are pretty bold in going after what they want. Investor and cybersecurity expert Robert Herjavec is also not shy on where he thinks cryptocurrency will go in the future. He recently told MONEY that we’ll see cryptocurrency eventually chase away the concept of fiat.

Shark Tank

Big on Blockchain

One reason why Herjavec is bullish on cryptocurrency’s future is that he’s a big believer in blockchain technology. He says that this new technology is an absolute game-changer that will revolutionize how businesses verify transactions. This viewpoint is shared by his Shark Tank compatriot, Mark Cuban.

Herjavec then goes on to add:

It’s going to have massive benefits for humanity, in all kinds of transactions.

As for virtual currencies, he says:

To me, it’s the wave of the future. Fast forward 25 years from now, there will be some form of a cryptocurrency that we will pay for electronically, and the concept of cash will go away one day.

bitcoin

Crypto Still Too Wild

While his comments above suggest that Robert Herjavec has bought his ticket for the cryptocurrency train and is picking a seat, he’s actually still not fully on board. He thinks virtual currencies are still way too volatile. He notes:

There’s no base for it. When I buy a house and it’s overpriced, I can live in it. There’s some fundamental value. The challenge with cryptocurrency is, it could go to zero. There’s no one exchange that is making them. Exchanges that sell them now can be hacked. We recently saw the largest breach ever — $500 million in 24 hours. If you had bought that exchange, it’s not that you’ve gone down 20% or 40%, you’ve actually gone to zero.

The exchange breach he references is, of course, the recent Coincheck hack. It is understandable for a businessman to be wary of any type of currency that can swing wildly in value from one day to another. Still, the ups and downs of crypto is what makes it so exciting to many people.

As for cryptocurrency replacing fiat in 25 years, that’s probably a bit of a stretch. It’s highly likely that virtual currencies will become as everyday as debit and credit cards are now, but cold, hard cash will probably be sticking around for some time.

Do you agree with Shark Tank’s Robert Herjavec that cash money will vanish in the future, to be replaced with some form of cryptocurrency? Let us know in the comments below.


Images courtesy of Flickr/@Disney | ABC Television Group and Bitcoinist archives.

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Úno 03

Man Buys Super Bowl Tickets with Bitcoin

· February 3, 2018 · 7:30 am

A fan of the New England Patriots was the first to use cryptocurrency to buy Super Bowl tickets as he spent 2.2 bitcoins for 50-yard line seats at Super Bowl LII.


The football season has finally reached its climax as the Super Bowl is set to take place tomorrow between the New England Patriots and the Philadelphia Eagles. Super Bowl LII is being held in Minneapolis, Minnesota, and it’s estimated that over a 100 million people alone in the USA will watch it. Of course, die-hard fans will watch the gridiron match from the stands of US Bank Stadium. One fan made crypto history by being the first to use bitcoins to buy tickets to Super Bowl LII.

Wilson football

Sitting on the 50-Yard Line

A fan of the New England Patriots had to be on the sidelines for the big game. However, vendors of such tickets do not currently take cryptocurrency. Luck was with him as he contacted TickPick, a secondary ticket vendor, to see if they would accept bitcoins as a payment option.

TickPick decided to take the fan (who wished to remain anonymous) up on the offer and agreed to sell him the tickets. The fan bought seats on the first row on the 50-yard line (the most coveted seats in football) for the price of 2.2 bitcoins. At the time of purchase, the value of the bitcoins came to $19,000.

That’s not a bad price for first row seats. According to TickPick, seats on the 50-yard line are going for between $8000 to $9000, but those seats are much further back. Someone currently has row 2 seats for $15,255 each, if you’re interested.

Tom Brady

TickPick Still Not Sold on Bitcoin

Overall, it took about an hour for the transaction to take place. The CEO of TickPick, Brett Goldberg, was quite happy to make the ticket exchange for bitcoins. However, don’t plan on start using your cryptocurrency to buy tickets for sporting events or concerts any time soon on the website.

Goldberg is not yet on board using crypto as an everyday means of purchase. He says:

In an hour you can see hundreds of dollars in swing. The second it hit my account it was transferred to U.S. dollars.

Me as a business, I don’t want to own bitcoin. I don’t want to be exposed to the volatility.

While lamentable, Goldberg’s attitude toward cryptocurrency is understandable. Most businesses have very tight margins that they operate on, and having a unit of currency fluctuating double digits is enough to give them ulcers.

Still, small steps matter. The first-ever use of Bitcoin to buy Super Bowl tickets is worthy of note, and hopefully, a harbinger of things to come.

Who are you rooting for in Super Bowl LII? How soon do you think it will be commonplace to buy tickets for events with cryptocurrency? Let us know in the comments below.


Images courtesy of Pexels, Wikimedia Commons, and Bitcoinist archives.

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Úno 01

No, India Won’t Ban Bitcoin and Will Embrace Blockchain Technology Too

· February 1, 2018 · 8:30 am

The Indian government talks a big talk when putting down Bitcoin and other cryptocurrencies, but such actions has done little to curb their popularity.


Crypto-Not-Currency

In his annual budget speech today, Union Finance Minister Arun Jaitley once again made clear the government’s intention to halt the use of Bitcoin and other cryptocurrencies in India, claiming the South Asian country does not recognize digital currency as legal tender. He states:

The government does not consider cryptocurrencies legal tender or coin, and will take all measures to curb the use of these crypto-assets in financing illegitimate activities or any part of payment systems.

However, Jaitley has said nothing about banning Bitcoin or cryptocurrency trading. In fact, he claims the government will instead encourage blockchain technology in traditional payment systems, illustrating that the Indian government does indeed see the value behind cryptocurrency, if not as legal tender.

A Long History of Doing Little

Bitcoin India

India is one of the largest markets for Bitcoin trading, with roughy 1 out of every 10 transactions worldwide taking place in the South Asian country.

The Indian government, however, has long been negative on cryptocurrencies—once even likening them to Ponzi schemes in a December 2017 press release that said:

Virtual Currencies (VCs) don’t have any intrinsic value and are not backed by any kind of assets. The price of Bitcoin and other VCs, therefore, is entirely a matter of mere speculation resulting in spurt and volatility in their prices. There is a real and heightened risk of investment bubble of the type seen in Ponzi schemes which can result in sudden and prolonged crash exposing investors, especially retail consumers losing their hard-earned money. Consumers need to be alert and extremely cautious as to avoid getting trapped in such Ponzi schemes.

Still, little has been done to actually curb the trading and use of cryptocurrencies in India, outside of official statements.

The Reserve Bank of India claims to have cautioned cryptocurrency investors three times since December 2013, claiming individuals are putting themselves at financial, operational, and legal risks, in addition to compromising their security. Some Indian banks have also provisionally shut down accounts for top Indian exchanges.

Nevertheless, hundreds of thousands of new Indian accounts are added to exchanges every month, and there’s little reason to assume Jaitley’s statement will have a significant effect—at least for now.

What do you think about the Indian government’s tough talk on cryptocurrencies? Do you think its claim to not recognize them as legal tender will have any effect on the market? Let us know in the comments below!


Images courtesy of Bitcoinist archives

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