From Zacks: The Securities and Exchange Commission has forbidden an application by the Winklevoss brothers to come up with a bitcoin ETF, finding the product not safe enough for investors. The SEC said that it cannot “conclude that bitcoin markets are uniquely resistant to manipulation.”
From deVere Group: Cryptocurrency volatility should be treated like any financial market turbulence, and many investors will successfully take advantage of it, affirms the CEO of one of the world’s largest independent financial services organizations.
From Tyler Durden: This past week on Bloomberg Television, I referred to bitcoin as “a fraud decorated with technology.” The fraud comes about because the exchange of a fiat legal dollar for a token, to use the kind description adopted by the Securities and Exchange Commission, seems unfair and frankly incomplete.
From Tyler Durden: The rise in Bitcoin’s price was approaching “warp speed” above $8,200 overnight when, as so often happens, it went into another sharp reversal.
From Tyler Durden: We have already discussed the hyperbitcoinization of the Venezuelan economy and it appears, judging by the most recent surge, that tonight’s ‘official’ default events for the sovereign (and PDVSA) have triggered a further rush to the ‘safety’ of a decentralized store of wealth.
From Ted Bauman: You’ve just arrived at the airport parking garage after a grueling flight. It’s late. It’s cold and raining. You’re tired and hungry. Home beckons.
From Tyler Durden: Bitcoin collapsed over the weekend, trading as low as $5555 — down 30% from its highs — before bouncing back above $6000, as Bitcoin Cash soared to as high as $2450 (4 times its price on Friday), overtaking Ethereum briefly as the second largest market cap cryptocurrency.
From Tyler Durden: Having ‘dabbled’ in what they know best — Snap — Millennials are increasingly turning their back on stocks and buying bitcoin.
From Tyler Durden: Another crisis in another nation and Bitcoin prices surge to another new high.
From Bitcoin Play: Bitcoin is a virtual currency that uses Blockchain technology for secure payments and storing money electronically, without requiring a bank or a person’s name.
From Tyler Durden: Over the past week, rumors have swirled that Amazon may be preparing to accept bitcoin as a form of payment, a decision which would lend immediate credibility and legitimacy to the cryptocurrency.
From Tyler Durden: As the mainstream continues to embrace cryptocurrencies — much to the chagrin of Jamie Dimon et al. in the establishment — CME Group is “responding to client interest” and launching a Bitcoin Futures contract in Q4.
From Doug Casey: In this article, I’d like to explain how I learned to love Bitcoin. Why it’s a wonderful thing. Its potential as a speculation. How the government is going to co-opt it. And how this is all likely to end.
From Tyler Durden: Aswath Damodaran, a professor of finance at the NYU’s Stern School of Business, disagrees with JPMorgan Chase CEO Jamie Dimon that bitcoin is a “fraud,” and explains that, in his view, the cryptocurrency is a currency rather than an asset in a new blog post.
From Tyler Durden: After soaring to new record highs near $6000 last week (as China returned to work following its Golden Week holiday), the start of the National Congress last night, combined with CFTC comments on ICO crackdowns has spooked cryptocurrencies with Bitcoin down 8% — its biggest drop in a month.