Author: Author

CFTC Chief Touts Cryptos Merits in US Senate Committee Hearing

Subscribe to the Coin.FM Cryptocurrency Podcast   Subscribe to the Coin.FM Cryptocurrency Podcast by Email

Episode #7

Although many negative things can be — and often are — said about the current state of the cryptocurrency ecosystem, Christopher Giancarlo Chief of the CFTC, a financial regulatory body in the US,  brought a much needed, forward-thinking perspective to a discussion largely dominated by out of touch baby boomers.

In today’s testimony, which could be viewed live on the internet, Giancarlo highlighted the fact that when transactions happen on a public blockchain, they are transparent, making the job of investigating any instances of wrongdoing that much easier.

This is in comparison to the incredible time, effort, and US tax payer money, that went into sorting through the vast mess of unscrupulous — and frankly illegal — behavior of some Wall Street banks and their executives leading up the the financial crisis of 2008.

Giancarlo even referenced his own niece who invests in cryptocurrency and  has opted to “hodl.”

Read the official testimony from the US Senate here:

https://www.banking.senate.gov/public/index.cfm/hearings?ID=D8EC44B1-F141-4778-A042-584E0F3B9D39

FUD Fueled By More Bad News

 

Subscribe to the Coin.FM Cryptocurrency Podcast   Subscribe to the Coin.FM Cryptocurrency Podcast by Email

Episode #6

FUD is a widely used acronym for the words Fear, Uncertainty, and Doubt.

And, it is continuing to win again this week, but not just in the cryptocurrency markets. The stock market took a  deep dive today, plunging nearly 1500 points.

Even without the bad news from Wall Street, there was plenty to make people want to cave in and panic sell.

Today, China announced that it’s extending it’s ongoing ban, in an attempt to completely stop and prevent cryptocurrency trading. For the moment, it remains legal for Chinese to actually own or hold cryptocurrency.

Listen to hear more news.

What are your thoughts?

Banks Block Crypto Purchases via Credit Card

 

Subscribe to the Coin.FM Cryptocurrency Podcast   Subscribe to the Coin.FM Cryptocurrency Podcast by Email

Episode #5

Several banks in the US and the UK have officially announced that their customers will no longer be permitted to use their credit cards to make purchases of cryptocurrencies.

The institutions include:

  • Lloyds Banking Group (UK)
  • Virgin Money (UK)
  • JP Morgan Chase (USA)
  • Bank of America (USA)
  • Citigroup (USA)

However, this isn’t something totally new — and it certainly isn’t surprising… it’s risky business. Since 2015, Discover blocked the purchase of cryptocurrency with their credit cards.

At the moment, no banks have indicated plans to prevent the purchase of cryptocurrency with debit cards or directly from bank accounts via direct transfer.

Do you agree with this policy shift?

Do you think more banks will follow this trend?

Friday News Roundup – February 2

 

Subscribe to the Coin.FM Cryptocurrency Podcast   Subscribe to the Coin.FM Cryptocurrency Podcast by Email

Episode #4

This week we have seen near all of the top 20 cryptocurrencies plummet 20% and more compared to last week’s figures. The massive drop follows the worst single month performance Bitcoin has seen in about 3 years.

What’s behind the sell-offs? Why the FUD?

Get the answers in this week’s roundup.

India Cracks Down On Illicit Activity Paid With Cryptocurrency

 

Subscribe to the Coin.FM Cryptocurrency Podcast   Subscribe to the Coin.FM Cryptocurrency Podcast by Email

Episode #3

What do you get when you mix overzealous media outlets and statements from government officials about regulating cryptocurrencies?

You pretty much always get inaccurate information — which usually includes the word “ban.” Unfortunately, it’s proven to only cause mass confusion and sell-offs driven by fear & panic.

India’s Finance Minister basically stated that cryptocurrencies would be banned from use for illicit activities. Somehow, the worldwide headline because “India bans cryptocurrencies.”

In January, we saw similar cases out of South Korea, where initially a ban on cryptocurrencies was announced and then the media corrected the communication to indicate that it was only a consideration and not even an official one. It turns out, the hoopla was just about adding regulations to prevent investors from trading anonymously on exchanges.

It begs the question, is there someone out there who wants the confusion? Are they doing this on purpose?

If so, why? How would they benefit from cryptocurrency markets losing steam and value?

Listen, as we set the record straight with the facts — straight out of India.

Coinbase Confirms Cash Advance Fees Expected for Some Credit Card Users

 

Subscribe to the Coin.FM Cryptocurrency Podcast   Subscribe to the Coin.FM Cryptocurrency Podcast by Email

Episode #2

Coinbase just confirmed what we knew was coming all along… banks would eventually crackdown on the use of credit cards to buy cryptocurrencies, like Bitcoin —  with or without direct government involvement.

Coinbase confirmed that some customers using credit cards on their platform could expect extra charges on their next bill for “cash advance” fees, although Coinbase itself is not the one charging or collecting any of that extra money. Customers are now being urged to make purchase on it’s website with their debit cards or bank accounts instead.

Surprise, surprise —  big banks found a way to make more money and protect their interests.

That’s a bit of sarcasm 😉

Will extra fees stop you from using your credit card to buy cryptocurrencies?

 

Cryptocurrency Advertisers No Longer Welcome on Facebook

 

Subscribe to the Coin.FM Cryptocurrency Podcast   Subscribe to the Coin.FM Cryptocurrency Podcast by Email

Episode #1

On January 30, 2018, Facebook announced that it was banning all advertising for cryptocurrencies on its platform. The decision, which comes on the heels of a $500M major exchange heist and promises of regulation from international governments,  has — in part — caused the price of Bitcoin to dip even lower to hover around the $10,000 mark for the past 24 hours.

The use of the word “ban” by many media outlets covering the story has only caused more panic & confusion for investors.

Facebook could have handled the situation better by evaluating ads from cryptocurrency firms on a case-by-case basis and refusing to advertise content that they perceive to be illegal, unethical, or otherwise potentially harmful to their users. They have this right as a private company, remember.

Oh well… if only Facebook took this same strict approach to help eradicate cyberbullying, prevent live stream murder, and of course, stop the proliferation of fake news on the Facebook platform during the 2016 election season.

What are your thoughts?

Feel free to listen, share & respectfully disagree.