Following up on our crypto news about hiring the huge bitcoin supporter Mick Mulvaney, the new White House Chief of Staff claims that Bitcoin is good and that it is no government can manipulate with it.
The United States President Donald Trump has chosen Mick Mulvaney as the new White House Chief of Staff. Mulvaney has been supporting Bitcoin for a long time and has praised its decentralized nature as well.
Back in 2016, Mulvaney said that he believes the Federal Reserve ‘’effectively devalued the dollar’’ and made clear that this level of control is not possible with Bitcoin because it is ‘’not manipulable by any government’’.
Having a strong bitcoin supporter as a member of the Trump administration is a very positive element for the growth of the number one crypto asset. His presence in the White House can encourage other governments around the world to hire government officials that will evaluate cryptocurrencies in a neutral way to do a better analysis of the benefits of the decentralized financial system.
The SEC has already clarified that Bitcoin is not yet considered a security under the existing laws but over the past few months, the SEC and the US have been working on integrating the strict Know Your Customer policies so they can prevent money laundering.
Having a high ranking government official in the US government means that the digital currency policies can have a long-lasting effect for the entire crypto industry however, Mulvaney has once said about Trump that he is a ‘’terrible human being’’ so there is a question remaining how long will the new Chief of Staff remain in office.
Crypto Analysts: 2019 May Be A Year Of Bitcoin Accumulation
“Similar to 2015, 2019 may be the year of accumulation.’’Another crypto researcher Willy Woo said that while a crash of bitcoin to $3,122 could lead to an increase in volume, it won’t show signs of starting of the accumulation period. He pointed out:
‘’Despite the technical setup that suggests bullishness is possible, there’s not a lot on-chain volume to fuel a prolonged up move. What we saw in the last 7 weeks was a spike of on-chain volume driven by volatility, coins moving to exchanges to trade. The initial volume spike false signalled a faster detox and an earlier end to the bear market, but in fact it was a volatility side effect. That move from $6k to $3k created immense trade volume, but it was in no way a signal that accumulation volume had begun.’’Until evidence for the accumulation of crypto assets shows up, there are still expectations of high volatility levels.
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.
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