Bitconnect, long thought to be a ponzi scheme, or at at least very Ponzi-like in operation, has indicated it will be close its exchange and lending platform.

SHOCKER THERE!

Bitconnect claims bad press and regulatory pressure as the reason for the implosion, both Texas and North Carolina have issued cease and desist letters to the organization, but many believe this would be occurring regardless.

Likewise, it's BCC token has tanked. Again: SHOCKER THERE!

Smells Like a Ponzi

Letters or no letters of cease and desist. This was heading down in flames one way or another. It reeks of GAW Miners, MLM, BitGold, and OneCoin. All probable or proven Ponzi's and Ponzi's always implode.

The concept of the model is to offer high earnings that are simply not sustainable, then use funds from new investors to pay investors before them, so on and so forth.

It never works and always eventually implodes.

In an announcement BitConnect stated:
This is to inform all community members that we are closing the Bitconnect lending and exchange platform. We are closing the lending operation immediately with the release of all outstanding loans. With release of your entire active loan in the lending wallet we are transferring all your lending wallet balance to your BitConnect wallet balance at 363.62 USD. This rate has been calculated based on last 15 days averages of the closing price registered on coinmarketcap.com. You are free to withdraw your BitConnect coin currently in QT wallets that was used for staking as well. We are also closing BCC exchange platform in 5 days. In short, we are closing lending service and exchange service while BitConnect.co website will operate for wallet service, news and educational purposes 
The go on further to explain the reasons why in detail.
The reason for halt of lending and exchange platform has many reasons as follow:
  • The continuous bad press has made community members uneasy and created a lack of confidence in the platform.
  • We have received two Cease and Desist letters, one from the Texas State Securities Board, and one from the North Carolina Secretary of State Securities Division. These actions have become a hindrance for the legal continuation of the platform.
  • Outside forces have performed DDos attacks on platform several times and have made it clear that these will continue. These interruptions in service have made the platform unstable and have created more panic inside the community.
If they want to know why the bad press happens, they need look no further than their own website.

This is simply not sustainable and thus, not believable. This is where the concern comes from.

It's not bad press. It's true press.

How on earth it is they plan to promise earnings of 40% per month? Plus an additional 10% to 25% per day?

It's not possible and now conveniently it's never going to be possible either. The biggest shock of all is that so many people were still paying any attention to the platform.

You can read the announcement here and always remember.

If it walks like a duck... it's a fucking duck.





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Image Credits: Banner Image by dinbits.com staff

[/item] [item title="Disclaimer"]The opinions expressed by authors of articles linked, referenced, or published on dinbits.com do not necessarily express, nor are endorsed by, the opinions the of dinbits.com or its affiliates. Please review the Terms of Use for more information.[/item] [/accordion]


After you're in this industry for a few years there's nothing that is more exciting than a market skid. When the price goes down and panic sets in for many, especially those new to the industry, others circle the selling spree like vultures waiting for a mammal to croak.

For those new to the industry, this is not when you panic and jump ship. You might as well just hand a professional trader your money and never buy in to begin with.

This is when you stand your ground and buy more.

How many times have you said "damn, I wish I would have bought bitcoin when ...." followed by whatever number you could have, should have, would have bought but didn't.

Every so often, and usually several times per year, bitcoin slips like it did today and there's your chance to buy.

It was short lived however, after a victory lap around the moon above $10,000 USD, bitcoin is back bouncing between $11,000 and $12,000 USD.

Fasten Your Seat-belt 

It's been a roller coaster all day long.

Dash was down to $800, made it back to $1,000 and now has fallen back to $775. Ether was over $1200, then fell to $900, and now sits around the $1000 mark.

The hardest hit appears to be Bitcoin Cash (BCH) and Ripple (XRP), both of which have lost nearly 50% of their value. BCash just over $1700 down from nearly $2900.

Bitcoin Cash, what some are now calling BCash, is not to be confused with bitcoin which is actually back up from its low today,

Almost every digital asset is down, however a few are standing their ground rather well.

Monero (XMR), ZCash (ZEC), and Ether Classic (ETC) seem to be standing their ground at $324, $504, and $29 respectively all of which have seen very little movement at all ranging between $10 to $20.

There's allot of buying opportunity out there.

Get on it!





[accordion] [item title="Author and Credits"] Article by dinbits
Image Credits: Banner Image by dinbits.com staff

[/item] [item title="Disclaimer"]The opinions expressed by authors of articles linked, referenced, or published on dinbits.com do not necessarily express, nor are endorsed by, the opinions the of dinbits.com or its affiliates. Please review the Terms of Use for more information.[/item] [/accordion]


South Korea President Moon Jae-in’s executive office Blue House spokesperson Jeong Ki-joon, stated in a press conference today that there will be no trading ban on virtual currency as previous rumored.

Jeong noted the "cryptocurrency regulation task force" created by the government will improve and alter proposal by the Justice Ministry to ban trading. Instead it will introduce practical regulations. 

"First, the South Korean government will pursue the crackdown on anonymous virtual currency trading accounts and will punish market manipulation, money laundering, and fraudulent transactions ... the trading ban proposal introduced by Justice Minister Park Sang-ki was a suggestion made by the Justice Ministry on December 28 to bring market speculation under control. .... fraudulent activities will be met with severe consequences."
Regulators in South Korea appear to be encouraging the industry and its technology.

A ban on foreign trade and under-aged investing however, is expected later in January 20.

-Algei






[accordion] [item title="Author and Credits"] Article by Alba Gei
Image Credits: Banner Image by dinbits.com staff

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Capital One and Metropolitan Bank become the latest to join the all-out war against virtual currency by refusing service to customers sending funds to exchanges.

Capital One has decided to refuse service to any customer sending money to a virtual currency exchange and in a typical banking fashion doesn't bother to tell the customer until well after the funds never arrive. Metropolitan Bank has shut down all international wire transfers involving virtual currency.

Both state "fraud" and "risk" as motivating factors. Really?

Wiring funds to a regulated exchange like GDAX (operated by Coinbase) or Bitstamp puts a customer at risk? Who on earth is supposed to believe this pile? 

Where's the fraud? Who's at risk? 

The bank. That's who.

The Best Damn Buggy Whip


There's an old movie called "Other Peoples Money" which starred Danny Devito. According to our demographics, most readers here were somewhere between grade-school and college or just entering the workforce when it debuted in 1991.

In that movie Devito's plays an investor "Larry the Liquidator" who gives a speech at a shareholders meeting where he says:

"... there must've been dozens of companies making buggy whips. And I'll bet the last company around was the one that made the best god-damn buggy whip you ever saw. Now how would you have liked to have been a stockholder in that company? You invested in a business and this business is dead ..."

Same is true for landline phones, cassette tapes, CD's, dial-up modems, print-media and bookstores, video rental stores, etc...

Another industry fading away are bank products. According to US Today and a Gallup Poll, 73% of Americans do not trust banks.

Americans’ confidence in the U.S. banking system was eroded during the Great Recession and has yet to fully recover. According to a Gallup poll, just 27% of Americans are confident in the country’s banking system...

Why should they be? Just look at the multi-billion dollar bail-out that was required to keep them floating. Where did that money go? In part to banking executives who continued to earn 6-figures, even getting massive bonuses of tax payer money.

Others were tortured with 6 to 8 months of waiting for the Federal Deposit Insurance Corporation (FDIC), a federally owned and operated corporation, to pay their claims when they lost everything when their bank imploded.

Traditional Banking is Simply a Dying Industry.

"I didn't kill it, it was dead when I got here..."

Virtual currency and its blockchain technology is another knife in the heart of banks so naturally they are going to go down kicking and screaming.

Exceptions do exist like BBVA and USAA who recognized the future and have supported the industry. USAA even allows integration to Coinbase for visibility of asset holdings in Crypto from a USAA banking account online.

For the most part however, banks like Bank of America, Wells Fargo, JPMorgan Chase, CitiGroup, etc., and now Metropolitan and Capital One, have been in an all out war against the blockchain and virtual currency industry.

The bigger the industry gets, the louder banks are going to bitch and moan about it and the more they bitch and moan about it the bigger the industry is going to get until they are simply obsolete.

What is a bank good for anyway? Charging you for keeping your money from you and making the decision for you on how you can and cannot use it?

Perhaps there are those who are irresponsible enough that they need to flush money down the toilet so that they can be told where and where not to flush money down the toilet.

The Risk of Banking

Here's one question for Capital One and Metropolitan.  Do you plan to keep offering savings accounts?

That's not only risky, it's a guaranteed loss.

The annual rate of inflation in the United States is currently 2.54% compared to the annual earnings on a traditional bank product called a savings account which earns less than 1.5% on average annually.

Capital One offers one of the highest interest rates on savings accounts in the nation at 1.4%.

If we take $10,000 and put it into a savings account at Capital One, here's how that breaks down from 1 to 10 years.

CAPITAL ONE 10 YEAR ROI
YearInterest Rate (1.4%)Inflation Rate (2.54%)Value
1$10,140.90$10,256.98($116.08)
2$10,283.79$10,520.56($236.77)
3$10,428.69$10,790.91($362.22)
4$10,575.63$11,068.22($492.59)
5$10,724.64$11,352.65($628.01)
6$10,875.76$11,644.38($768.62)
7$11,029.00$11,943.62($914.62)
8$11,184.40$12,250.54($1,066.14)
9$11,341.99$12,565.36($1,223.37)
10$11,501.80$12,888.26($1,386.46)

[info title="Editors Note" icon="info-circle"]Notably, we found the highest rate of interest at 1.5% from both Goldman Sachs and Live Oak Bank.[/info]
At the end of the 10 year term, you essentially have $1,386.46 less than you started with which equates to starting with $10,000 and ending up with $8,613.54 in your pocket.

Let's apply this same model to Bitcoin which has performed astronomically better than 100%, but we'll be fair and use 100%.

BITCOIN 10 YEAR ROI 
YearBase ROIInflation Rate (2.54%)Value
1$26,130.35 $10,256.98 $15,873.37
2$68,279.53 $10,520.56 $57,758.97
3$178,416.83 $10,790.91 $167,625.92
4$466,209.48 $11,068.22 $455,141.26
5$1,218,221.82 $11,352.65 $1,206,869.17
6$3,183,256.62 $11,644.38 $3,171,612.24
7$8,317,961.88 $11,943.62 $8,306,018.26
8$21,735,127.94 $12,250.54 $21,722,877.40
9$56,794,656.34 $12,565.36 $56,782,090.98
10$148,406,441.31 $12,888.26 $148,393,553.05

How about some unknown ShitCoin that earned only 10%, what would that bring?

SHITCOIN 10 YEAR ROI
YearBase + ROI Inflation Rate (2.54%)Value
1$11,047.13 $10,256.98 $790.15
2$12,203.91 $10,520.56 $1,683.35
3$13,481.82 $10,790.91 $2,690.91
4$14,893.54 $11,068.22 $3,825.32
5$16,453.09 $11,352.65 $5,100.44
6$18,175.94 $11,644.38 $6,531.56
7$20,079.20 $11,943.62 $8,135.58
8$22,181.76 $12,250.54 $9,931.22
9$24,504.48 $12,565.36 $11,939.12
10$27,070.41 $12,888.26 $14,182.15

These numbers are estimates and can change at any moment but they are current. Bitcoin may never raise another single penny in value. Possible, but not likely. Capital One may offer 15% interest in 2018. Possible, but also not likely.

So we are to believe that losing $1,386.46 with a traditional savings account product offered by Capital One is worse than earning $14,182.15 with an unknown GarbageCanCoin?

Seemingly it is the bank that is the risk with risky products of guaranteed loss.

Here is an opinion which I did not previously believe, banks may well be threatened by virtual currency. They say no, however their actions seem to continue to prove otherwise because these actions do not appear to be risk mitigation, they appear to be self-preservation.

The only way banks feel they can stop money from going elsewhere and keep it in their pockets is to try and terminate its customers ability to invest in other products or offerings and when they say there is too much "risk" they are not talking about consumer protection, they are attempting to save their own ass.

Why don't they do this for the stock market? Is E-trade banned too?

People are far more at risk in the stock market than they are with bitcoin.

The writing is on the wall, funds sent for bitcoin may never return to the bank because once it converts to bitcoin, it can go anywhere, it can be spent or otherwise used whereas stock earnings typically head back to the bank having no other outlet. 

This is another reason for virtual currency investment interest, the investment can be used or spent. It's not trapped among a pile red-tape and fees required to free it.

Virtual currency investors that may require liquidation of any given asset can do so within an hour or so whereas this isn't possible with other investments. If liquidation is required for an emergency, this is exceedingly inconvenient. Moreover, virtual currency like bitcoin can be spent instantly without liquidation or conversion to other forms of value or fiat currency.

All of this sucks for banks. 

This is not to say there is no opportunity for banks. Gateways (on/off ramps) for virtual currency, use of funds (debit payment cards), and other services in the industry provide ample opportunity for those who choose to embrace it. However, to date, only a few have had the innovative insight to do so and their actions will likely serve them well in the end.

Even if Bank of America and Capital One eventually come around to embrace the industry, the industry won't soon forget the terror they participated in of encouraging money laundering, causing bankruptcy and unemployment, and other derogatory actions for nothing more than their own greed and self-preservation.

Ask any bank why they won't service a virtual currency related money services business. If they're honest they'll tell you. It costs too much.

They don't make enough money off of you so you're not worth anything to them.

For average people just investing? Well they just threaten those customers by taking their money, forcing them to do without it while they tell them where and when they are allowed to spend their money.

If banks are going to dictate customer spending then what's next? Are you only going to be allowed to buy bank-approved milk? Will only bank-approve toilet paper be allowed to wipe your ass?

There's an easy fix. Withdraw your money from these banks and put it in another one or better yet, somewhere else all together.

Here's an idea, bitcoin allows you to "be your own bank" ... and nobody tells you how to spend it.





[accordion] [item title="Author and Credits"] Article by dinbits
Image Credits: Banner Image by dinbits.com staff
Devito Image (and quotes) courtesy Warner Bros.

[/item] [item title="Disclaimer"]The opinions expressed by authors of articles linked, referenced, or published on dinbits.com do not necessarily express, nor are endorsed by, the opinions the of dinbits.com or its affiliates. Please review the Terms of Use for more information.[/item] [/accordion]


Nebraska has put two new bills on the table, neither one are friendly to bitcoin or other virtual currency.

On January 8th, the "Nebraska Virtual Currency Money Laundering Act" (VCMLA) was introduced and then just 3 days later an additional proposal to adopt the Uniform Law Commission's (ULC) "Uniform Regulation of Virtual-Currency Businesses Act" (URVCBA).

Legislature Bill LB691 proposes the VCMLA and would make the use of virtual currency a felony if a transaction is used in a financial crime. If enacted the the bill will amend:

"...sections 8-2701 and 8-2715, Revised Statutes Cumulative Supplement, 2016, and section 28-101, Revised Statutes Supplement, 2017; to adopt the Nebraska Virtual Currency Money Laundering Act; to provide penalties; to define and redefine terms under the Nebraska Money Transmitters Act; to harmonize provisions; and to repeal the original sections."

Bill LB987 proposes the adopt the URVCBA drafted and approved by the ULC, a commission of attorneys and regulators who draft regulations for unified adoption by all states. However, this is never the case as it is up to individual states to adopt or not adopt any ULC draft regulation. 

For example, the ULC "Money Services Act" is adopted by only 11 jurisdictions.

Nebraska was previously a friendly state for virtual currency, however with the two new bills, Nebraska moves to cautionary. This coming after the busiest year to date for state regulation of blockchain and virtual currency. 





[accordion] [item title="Author and Credits"] Article by dinbits
Image Credits: Banner Image by dinbits.com staff

[/item] [item title="Disclaimer"]The opinions expressed by authors of articles linked, referenced, or published on dinbits.com do not necessarily express, nor are endorsed by, the opinions the of dinbits.com or its affiliates. Please review the Terms of Use for more information.[/item] [/accordion]


Kraken went down for over 48 hours for an "upgrade" and subsequent "rest" for its engineers.

Amidst screams for "Gox" and panic over the downtime which was only scheduled for a few hours Kraken staff worked to repair the platform and returned this morning.
“We are performing a system upgrade on Thursday, January 11 at approximately 5:00 UTC (Wednesday January 10 at 9 pm PT). Kraken services will be offline for about 2 hours during the upgrade, possibly longer.”

In an email to all users Kraken stated:
The Kraken website and trading is now back online, following the recent scheduled downtime necessary to upgrade our infrastructure. All client funds are safe and secure.
The update mentioned that no orders were on the books and all funds had been returned since all orders prior to the upgrade had been cancelled.

They've also paused margin liquidations for 24 hours and disabled withdraws for 12 hours (shocker there).

Deposits are also delayed, but there is a silver lining.

Until January 31st, Kraken is offering zero fee trades.
in appreciation for your loyalty to Kraken, we are activating zero fee trading for all clients (across non-margin trades) starting now and lasting through the end of this month.
Kraken offered an apology and explanation for the outage in addition to the zero fee trading.
We apologize for the uncertainty our downtime has caused. The scheduled downtime was to replace our old trading engine with a brand new trading engine - an improvement that customers have long asked for and that we have long been working hard on. We still have some more work to do before the new trading engine is as good as we want it to be, but this week’s replacement was an important first step to having a better trading experience. Our system is replicated in development, where all tests passed. However when the new engine was moved to the production environment, regression tests picked up a condition that proved quite difficult to track down. Further insight into the downtime and a description of actions we plan to take in order to improve the client experience will be provided via a retrospective Kraken blog post, to be published in the coming days.
Zero fee trading sucks less than the alternative and generous of Kraken so for now, perhaps we'll see a decline in the Gox accusations.

In the meantime ... zero fee trades ... get on it!





[accordion] [item title="Author and Credits"] Article by dinbits
Image Credits: Banner Image by dinbits.com staff

[/item] [item title="Disclaimer"]The opinions expressed by authors of articles linked, referenced, or published on dinbits.com do not necessarily express, nor are endorsed by, the opinions the of dinbits.com or its affiliates. Please review the Terms of Use for more information.[/item] [/accordion]


The U.S. Marshals Service has announced that it will auction over 3,800 bitcoins this month.

The auction will take place on January 22 and per standard federal agency auction, the bitcoin, "approximately 3,813.0481935" will be divided into blocks for bidding.
"The auction will take place during a six-hour period Jan. 22 from 9:30 a.m. until 3:30 p.m. EST. Bids will be accepted by email from preregistered bidders only. The 3,813 bitcoins are offered for sale in 11 blocks: five blocks of 500 bitcoins, five blocks of 100 bitcoins and one block of approximately 813 bitcoins." 
One can't help but note the "approximate" amount of 3,813.0481925 carried out to the 7th decimal place. Seems rather specific doesn't it?

The bitcoins come various seizures:
  1. United States v. Approximately 85.6971800 Bitcoins (Dakota Hower), District of Idaho (Case No. 17-00288)
  2. United States v. Aaron Michael Shamo, et al, District of Utah (Case No. 16-00631)
  3. United States v. Daniel Robert Summerfield, Eastern District of California (Case No. 17-00135)
  4. United States v. Alexander Konstantinovich Tverdokhlebov, Eastern District of Virginia (Case No. 17-00009)
  5. FBI Administrative Forfeiture of Various Bitcoin from Drew Callahan
  6. USPIS Administrative Forfeiture of 64.99255187 Bitcoins from wallet XXXXfVLXA
  7. USPIS Administrative Forfeiture of 5.80090739 Bitcoins from wallet XXXXJngi4
  8. USPIS Administrative Forfeiture of 11.6279 Bitcoins from wallet XXXXJPWT7
  9. USPIS Administrative Forfeiture of 53.05495044 Bitcoins from wallet XXXX4z96W
  10. Department of Homeland Security, United States Customs and Border Protection, Case Numbers; 2016330700028201, 20161603000009401, 201110100007601, 2017390100065401, 2017110100022201, 2017390100068001, 2017390100065401, 2017390100014601

To bid, those interested must register by noon on January 19th and lay out a $200,000 refundable deposit per block to bid and breakdown into 2 series and 11 blocks.

Series BitcoinsBlocksTotalDeposit
A 500 52500$200,000
B 100 5500$200,000
C 813.04819351813.0481935$200,000
Total 3,813.0481935

Winners of the auction blocks have 24 hours to wire funds via Fedwire (meaning you have less than 24 hours) to the US Marshalls office.

Which leads to one question. Is the US Marshall's Office planning to use escrow?

Seems only fair. They want a $200k deposit, so do they expect everyone to just trust them for 2 days with $200k?  After all, allot of these bitcoins do come from civil forfeiture.

I vote for the US Marshall's office using Localbitcoins.com for escrow before deposits and payments are made.

I would actually pay money to see that.





[accordion] [item title="Author and Credits"] Article by dinbits
Image Credits: Banner Image by dinbits.com staff

[/item] [item title="Disclaimer"]The opinions expressed by authors of articles linked, referenced, or published on dinbits.com do not necessarily express, nor are endorsed by, the opinions the of dinbits.com or its affiliates. Please review the Terms of Use for more information.[/item] [/accordion]


Microsoft, who suspended bitcoin payments for a couple days stating ""high fees and volatility" as the reason, has reinstated the processor after changes were made to allowed for smaller amounts.

“We’ve restored bitcoin as a payment option in our store after working with our provider to ensure lower bitcoin amounts would be redeemable by customers,” a Microsoft spokesperson said.

Microsoft is one of the largest companies accepting bitcon and has been accepting the payment bitcoin method since 2014 where funds can be used to purchase games, movies and apps from the Windows and Xbox stores.

Microsoft’s initial temporary suspension alarmed many industry enthusiasts, however it was short lived.

This coming at a time when it can't be too great a shock that many vendors simply cannot afford to offer bitcoin acceptance with the ridiculously high fees requiring upwards of $20 to $60 per transaction. 

It doesn't make sense to pay for something that costs $50 to $100 if there's a fee of $20 to $60 on top of that to pay for it. Bitcoin is currently making a case for shoppers to go back to using credit cards and debit cards to save money and the savings vendors once enjoyed have been lost in trying to offer bigger discounts to customers paying in bitcoin or customers lost due to the higher fees. 

This isn't the first issue of it's kind either, the problem is ongoing.

BitPay recently had to all but discontinue invoices under $100 before they reverted to $5 and it currently costs about $40 on average to fund it's BitPay Visa card rendering the payment card practically useless.

Others have moved to other digital assets for payment methods like Dash and Litecoin.

Hopefully, the fee issue resolves itself soon or the industry may see a substantial drop in would-be bitcoin users.

Microsoft for now, however, has the resources and ability to continue offering the service but how long they can continue this on bitcoin's miner fee trajectory is undeniably uncertain.





[accordion] [item title="Author and Credits"] Article by dinbits
Image Credits: Banner Image by dinbits.com staff

[/item] [item title="Disclaimer"]The opinions expressed by authors of articles linked, referenced, or published on dinbits.com do not necessarily express, nor are endorsed by, the opinions the of dinbits.com or its affiliates. Please review the Terms of Use for more information.[/item] [/accordion]


The Securities and Exchange Commission announced the temporary suspension of trading in the securities of UBI Blockchain Internet, Ltd. (“UBIA”), of Hong Kong, People’s Republic of China yesterday and through January 22nd.

The Commission suspended trading of UBIA because of  questions regarding the accuracy of UBIA in filings with the Commission regarding the company’s business operations and concerns about recent, unusual and unexplained market activity in the company’s Class A common stock.

The announcement from the SEC cites Section 12(k) of the Securities Exchange Act of 1934 (the “Exchange Act”) as the governing authority for the suspension.

UBI Blockchain Internet, Ltd. is a blockchain focus company who's stock offering spiked 100%  recently. According to SEC filings, the organization plans to offer technology for tracking food and healthcare products on the blockchain or some version of a blockchain (no specific chain has been mentioned).

The company stock price spiked to $87 on December 18th up from just $9 on December 11th. Currently the price is halted at $22 until at least January 22nd.





[accordion] [item title="Author and Credits"] Article by dinbits
Image Credits: Banner Image by dinbits.com staff

[/item] [item title="Disclaimer"]The opinions expressed by authors of articles linked, referenced, or published on dinbits.com do not necessarily express, nor are endorsed by, the opinions the of dinbits.com or its affiliates. Please review the Terms of Use for more information.[/item] [/accordion]


JPMorgan CEO Jamie Dimon, who called bitcoin a fraud in 2017 said he now regrets making that statement.

Shocker there.

Bitcoin was under $4,000 when Dimon made the comment back in September of 2017, the digital asset is now worth well over 3 times that amount today sitting currently over $14,450.00 on the index.

"The blockchain is real ... you can have cryptodollars in yen and stuff like that. ICOs ... you got to look at every one individually. The bitcoin was always to me what the governments are going to feel about bitcoin when it gets really big. And I just have a different opinion than other people." - Dimon speaking to Fox Business.

Dimon basically stated what he should have stated in the first place. Everyone has a right to an opinion, but outright calling anything a fraud without any basis of fact isn't always the most productive course of action.

We'll leave it at. Anyone who admits a mistake and owns up to it in the manner Dimon has deserves a certain level of respect and as of today, he's earned it.

Whereas many still disagree with his opinion regarding bitcoin, respecting ones opinion is required if one wishes an opinion to be respected in return.

 Regarding the comment "what the governments are going to feel about bitcoin when it gets really big". I'll offer this opinion.

There's nothing they can do about it short of turning off the internet and eliminating all electricity on earth.

There was a time long ago when governments worldwide could have done something to stop it, back when the network was weak and lacked value. The governments could have easily and collectively nipped it in the bud.

Despite that not being in the best interest of the planet in the first pace, more importantly, that opportunity ... is long gone.





[accordion] [item title="Author and Credits"] Article by dinbits
Image Credits: Banner Image courtesy JPMorgan 

[/item] [item title="Disclaimer"]The opinions expressed by authors of articles linked, referenced, or published on dinbits.com do not necessarily express, nor are endorsed by, the opinions the of dinbits.com or its affiliates. Please review the Terms of Use for more information.[/item] [/accordion]
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