It is four months after Gary Cohn has left the White House as a chief economic advisor, and it seems like the former Goldman Sachs president is eyeing the cryptocurrency world. As he recently told Bloomberg:
“I’m not keen on what’s going on. I’m keen on what I think could be the new world of crypto, but it’s got to have a use. It can’t just be a store of valuation, there are other more practical ways to store value.”
Despite his strong stance towards Bitcoin, Cohn is confident that there are ways in which crypto could be used. This is not the first time that he, as a former Trump advisor who quit after the president slapped tariffs on steel and aluminum imports, revealed his discomfort with cryptocurrencies as they currently exist.
Previously, Cohn stated that the ‘complicated’ nature of Bitcoin worked against the cryptocurrency – and later he predicted that the global cryptocurrency of the future will be the one that is well understood and one that is not generated by mining.
As he said a year ago:
“It will be a more easily understood cryptocurrency. It will probably have some blockchain technology behind it, but it will be much more easily understood how it’s created, how it moves and how people can use it.”
Meanwhile, Goldman Sachs is looking at unveiling Bitcoin custodial services for investment funds and other institutional investors, and hiring people in the crypto world after the rumors that it was launching a Bitcoin trading desk.
Scott Galloway Of UCLA Believes Crypto Will Get Worse In 2019
‘’VR and crypto go from bad to worse. AI fails to live up to the hype. 3D printing rises from the ashes. Smart cameras become a hot category.’’His assessment seems to be accurate but can the crypto market prove to be the odd one out? This can be so since many industries are really committed to the crypto sector. Companies such as Fidelity, ICE, and Nasdaq have funded at least five projects in the crypto space over the past year. Venture capitalist Jim Breyer even said:
“So many of the very best computer scientists and deep learning Ph.D. students and postdocs are working on blockchain because they have so much fundamental interest in what blockchain can mean. You don’t want to bet against the best and brightest in the world.’’
Pantera Capital CIO: “Bitcoin Will Not Succeed As Money”
"Bitcoin created the ability to send money around the globe cheaply and easily without having to trust a third party," Krug was confident.He also went on to discuss several revolutions in the past, from the information revolution triggered by printing press up to the telegram, telephone, radio, television and finally, the Internet. When asked about finance, Krug believes that the industry has made leaps of progress such as increases in execution speeds, online user interfaces, brokers etc. However, he stated that a financial revolution powered by the blockchain could advance us into a next era where money, value and finance will all be coordinated thanks to crypto.
"This infrastructure will be borderless, cheap, quick, and, most importantly, will let people trade on things they’ve never been able to exchange before, and if markets for those don’t exist yet, it’ll let them create it," Krug concluded.
Scottish Man Sentenced To Prison For Buying Firearms On The Dark Web With BTC
‘’You claim that you had no intention of causing harm to anyone but the fact remains that you went to considerable lengths to get hold of a potentially lethal weapon and ammunition. You must have appreciated that this was unlawful. For this conduct you must be punished.’’This case is only a number in the series of similar cases where bitcoin is used to carry out illegal activities on the dark web.
American Businessman Still Missing After $950,000 In BTC Ransom Paid
‘’Pavas and Hospital neighborhoods in San Jose – Criminal assault and homicides have been reported in these areas. Gang activity, such as territorial disputes and narcotics trafficking, has been reported in Pavas in the vicinity of the U.S. Embassy.’’There is also another case of kidnapping but in Norway where millionaire’s Tom Hagen wife was also kidnapped. The kidnappers demanded that the ransom should be paid on Monero and that the police must not be involved. However, the police did get involved and said to the public:
‘’Our goal is to find the woman alive and reunite her with her family. In serious crime cases, time is an important factor. We depend on tips that can help us come closer to finding Anne-Elisabeth.’’
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