ICOs are BAD, they are bad for crypto currencies and we are glad to notify that finally SEC is cracking down on ICOs. KryptoMonk believes that with exception of few ICOs most are scam. Folks with simple website, copied code and white paper and some old idea in new bottle asking for crypto coins .. mostly Ethers, but they are absolutely bad for investors. Do not give way your hard earned, Smart Digital Coins to ICO scammers.
Few days ago, JP Morgan CEO Jamie Dimon criticized Bitcoin and called it biggest “fraud” and he also mentioned that he would fire his employees if they are caught trading any digital currency.
But now Bitcoin.com reveals that JP Morgan has been routing their customer orders for XBT shares, exchange traded notes which track the price of bitcoin.
What do you think – is JP Morgan influencing Bitcoin pricing somehow? calling it “fraud” and getting involved in trading Bitcoin ETN. I think, Banks are afraid of possibilities of digital currency and they are trying to win loosing battle.
Details are not clear, but Coindesk is reporting another “hard fork” for Bitcoin is underway. After Bitcoin Cash, it will be Bitcoin Gold and it will be more decentralized again.
“Bitcoin gold will implement a proof-of-work change from bitcoin’s SHA256 to Equihash, a memory-hard algorithm that is ASIC-resistant and optimized for GPU mining,” explained pseudonymous bitcoin gold developer “The Sorrow.”
According to Bloomberg, he was impressed with privacy features of digital currency.
“The concept of anonymous currency is a very interesting concept – interesting for the privacy protections it gives people, interesting because what it says to the central banking system about controlling that.”
Recently China banned all Bitcoin trading and every investor is skeptical about Bitcoin investing. But real question is – Can any Country or Govt. stop Bitcoin Moment?
KryptoMonk think .. not really, no one stop stop Bitcoin .. because no one can control it. If you cannot control .. you can ban it .. but you cannot stop it. Maybe thats why KryptoMonk thinks China ban on Bitcoin will be short lived .. it will be lifted soon with some regulations for sure.
KryptoMonk believes that China’s Ban on Bitcoin is Temporary. Maybe in early 2018 Chinese government will provide some guidelines how Bitcoin will be regulated within the country.
Currently Bitcoin valuation is too small in front of Chinese Economy, but if Chinese Government wants to lead the free world economy, then Government will have to accept and somehow regulate Digital Money for Long Term.