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Nearly $170 billion wiped off cryptocurrency market in 24 hours as bitcoin pulls back on Monday.
The sell-off in cryptocurrencies comes after a huge rally and perhaps signals some profit-taking from investors. The plunge accelerates, down 20% in biggest selloff since March.
However, most observers believe the price dip is healthy amid the overheated market. https://www.cnbc.com/amp/2021/01/11/...cy-market.html
nearly $170 billion wiped off cryptocurrency market in 24 hours as bitcoin pulls back on monday.
The sell-off in cryptocurrencies comes after a huge rally and perhaps signals some profit-taking from investors. The plunge accelerates, down 20% in biggest selloff since march.
However, most observers believe the price dip is healthy amid the overheated market. https://www.cnbc.com/amp/2021/01/11/...cy-market.html
What are the chances of the United States declaring Bitcoin illegal for purchases in the United States because the US dollar is the only legal tender in the country?
I'm just curious because, technically I believe it is the law, but clearly things have changed over the years and an un-enforced law on the books is just that. After all, there are stores out there right now refusing to accept cash for goods and no one has brought this up. Things are purchased from all around the world as well.
At the same time, it seems like the Feds have been quietly getting in position to crack down on Bitcoin holdings. Has anyone done any research on this?
What are the chances of the United States declaring Bitcoin illegal for purchases in the United States because the US dollar is the only legal tender in the country?
I'm just curious because, technically I believe it is the law, but clearly things have changed over the years and an un-enforced law on the books is just that. After all, there are stores out there right now refusing to accept cash for goods and no one has brought this up. Things are purchased from all around the world as well.
At the same time, it seems like the Feds have been quietly getting in position to crack down on Bitcoin holdings. Has anyone done any research on this?
This was emailed from Catherine Wood this morning...
The OCC Has Given Banks the Green Light to Use Public Blockchain Networks and Stablecoins
[LEFT][LEFT] By Yassine Elmandjra | @yassineARK Analyst [/LEFT][/LEFT]
On Monday, the Office of the Comptroller of the Currency (OCC) published an interpretive letter addressing INVNs - independent node verification networks, or public blockchains - and stablecoins. In the letter, the OCC announced that financial institutions will be able to use INVNs to streamline payment functions like processing, validation, and settlement.
As a result, national banks and federal savings associations can participate as nodes on public blockchains. As highlighted in the letter, “The OCC has recognized that bank-permissible activities may be conducted with new and evolving technologies. INVNs and related stablecoins represent new technological means of carrying out bank-permissible payment activities and therefore conclude that a bank may validate, store, and record payment transactions by serving as a node on an INVN.”
In our view, Bitcoin could become the default settlement system for banks and businesses. Unlike traditional settlement systems, Bitcoin’s network is global and cannot censor transactions. Perhaps more important, unlike central banks, Bitcoin’s network cannot inflate the number of bitcoin outstanding beyond the mathematically metered increases put in place at its inception. If it were to capture 10% of financial intermediary settlement volumes just in the United States, our analysis suggests that Bitcoin’s network value would increase by an additional $1.5 trillion and the bitcoin price would rise by roughly $75,000.
Honestly, you should be looking at this time as an opportunity to jump in. Start small and then build up as your confidence in this investment grows.
I don't believe in bitcoin at all. Even though I trade a lot, I trade conservatively.
I saw what happened to bitcoin the last time there was bitcoin mania at the end of 2017 - it lost 2/3 of its value - fast.
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