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Court Win for Bithumb Exchange in Case of Crypto Investor’s $355K Hack
A South Korean court has ruled in favor of the Bithumb cryptocurrency exchange after a user sued the firm over a $355,000 hack.
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Stocks and Precious Metals Charts – Psychopathia Kleptocratus
jessescrossroadscafe.blogspot.com / 27 MARCH 2017
Stock futures were sharply lower overnight, as the first reaction to the failure of the Trump Healthcare Bill failed badly on Friday.
Gold and silver were rallying up to overhead resistance.
But as usual, the buyers came back in and brought stocks back up to nearly unchanged, or higher in the case of big cap tech.
Nevertheless, the Dow and SP 500 finished in the red, extending the longest streak of down days in the broader US stock markets since 2011.
Now the ball is back in The Donald’s court. Will he be able to cut taxes for large corporations and wealthy individuals without the ability to point to savings from the ‘reform’ of healthcare.
Stay tuned. This looks like an interesting year.
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Billionaire Mark Cuban Buys $20 in Bitcoin, Says It’s ‘In a Bubble’
American billionaire Mark Cuban took the bitcoin world by storm when he revealed his interest in the cryptocurrency and the possibility it may be a bubble.
Shark Calls bitcoin Bubble
Mark Cuban is, among other things, an American billionaire, businessman, investor and television personality. He is also known for being one of the main investors on the ABC reality television series, Shark Tank.
Yesterday, Cuban took the bitcoin world by storm when he tweeted about his new-found interest in the digital currency:
I just subscribed to Inside bitcoin, and you should too!
— Mark Cuban (@mcuban)
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With an extensive resume in the business world and an estimated net worth of 3.4 billion dollars, it’s no wonder that Cuban’s interest in bitcoin has brought confidence to many . However, Mark Cuban later tweeted his thoughts regarding a in the current BTC price.
I think it's in a bubble. I just don't know when or how much it corrects. When everyone is bragging about how easy they are making $=bubble
— Mark Cuban (@mcuban)
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It is impossible to say with certainty if bitcoin is or isn’t in a bubble as signs pointing towards both possibilities are visible. Although the current price has made Cuban see signs of a bubble, he still recognizes the value in bitcoin as a decentralized payment system, stating:
I’m not questioning value. I’m questioning valuation.
Mark Cuban & bitcoin
So why is this important at all? Another person getting into bitcoin isn’t really groundbreaking and Cuban only bought in bitcoin to see how it works.
However, it’s worth noting that Cuban’s visibility as a businessman and as a TV personality can go a long way in expanding to traditional investors. Though, the most interesting part is that he wasn’t always a fan of bitcoin.
In a 2014, Mark Cuban told USA Today that despite being “great as an encryption technology,” he didn’t think bitcoin could make it as a global currency, :
I think it’s got no shot as a long term digital currency.
This means that bitcoin’s endurance as an immutable and decentralized payment system is starting to pay off, revealing the true potential of bitcoin as a “long term digital currency.” Not only that, but the value of blockchain technology itself was also underlined in another one of Mark Cuban’s tweets:
I think blockchain is very valuable and will be at the core of most transactions in the future. Healthcare, finance etc all will use it
— Mark Cuban (@mcuban)
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The B-Word
While the focus created by this recent development has been received as a positive for bitcoin, it is also worth noting that the concerns of a possible cryptocurrency bubble are very real. So much so that have even claimed that Cuban’s tweet regarding the possible bitcoin bubble made the price of bitcoin drop.
So, are we in a bubble? Mark Cuban isn’t the only ‘shark’ that believes this to be true.
, a South African Internet entrepreneur, co-founder & CEO of Civic, and one of the ‘sharks’ on the Shark Tank South Africa version, has expressed similar thoughts.
When asked if bitcoin is currently in a bubble, he :
Yes, but people who called the bubble in 2011 were wrong. It took two years to burst.
Although it’s impossible to point out a bubble with absolute certainty until it pops, one thing is clear: at , bitcoin is nowhere near ready to be adopted by the mainstream as a global digital currency.
If scaling can be , however, there is no telling how high bitcoin can go.
Do you agree with Mark Cuban? Is bitcoin currently in a bubble or is this just the start? Share your forecasts with us in the comment section.
Images courtesy of Shutterstock, Twitter, CNBC
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Interview with DICE Money Co-Founders on their Crowd-Mining Alternative to ICOs
Cryptovest Interview with DICE Money Co-Founders on their Crowd-Mining Alternative to ICOs We interviewed DICE Money co-founders about their new alternative to ICOs, aimed at small businesses as ICOs become more like IPOs. more info…