Cryptocurrency News With URL like www.cnbc.com

Trump wants to "print money" to lower the US debt. This is why Bitcoin is needed.
As a candidate, Donald Trump pledged to balance the federal budget and lower the national debt, promises that are proving difficult to keep. Once he won, Trump considered an unusual approach that was quickly slapped down by his chief economic advisor, according to veteran journalist Bob Woodward's new book, "Fear: Trump in the White House," which went on sale Tuesday. "Just run the presses print money," Trump said, according to Woodward, during a discussion on the national debt with Gary Cohn, former director of the White House National Economic Council. "You don't get to do it that way," Cohn said, according to Woodward. "We have huge deficits and they matter. The government doesn't keep a balance sheet like that."

Bitcoin emerges as hedge in trade war CNBC
Speaking at a White House event on Monday evening, U.S. President Donald Trump offered a projection about how much longer Washington and Beijing could be locked in heated... China announced on Monday that it will raise tariffs on $60 billion worth of U.S. goods, beginning on June 1. The latest development from Beijing comes after U.S. President... The possibility that China might stop being the world's biggest consumer of U.S. debt again reared its imposing head Monday. CNBC's David Reid says it is high time for social media giants to take on all the responsibilities of the fully grown global companies that they have become.

Bitcoin emerges as a global hedge while stocks tumble in US-China trade war
The possibility that China might stop being the world's biggest consumer of U.S. debt again reared its imposing head Monday. China will raise tariffs on $60 billion in U.S. goods in total nearly 2,500 products. Losses amid Dow stocks like Intel and Apple show Wall Street's concerns for companies with significant exposure to the Chinese market. U.S. equity futures opened lower Monday evening as traders weighed the details of an ongoing trade war between the United States and China. Trump, who campaigned on cracking down on unfair trade practices, has stirred trade conflict with China, Canada, Mexico and the European Union.

First Buffet, now Stiglitz wants to shutdown Cryptocurrencies! And its only a week or so since the AG hit Tether with the case. I always thought the feds gave crypto enough rope to hang itself, now watch the tsunami of attacks!!!
Joseph Stiglitz, a Nobel-Prize winning economist, says cryptocurrencies should be shut down. He worries that they enable illicit activity by making money transactions less transparent. Still, he sees the value in digital payments systems and supports electronic use of government-backed currencies like the dollar. "I've been a great advocate of moving to an electronic payments mechanism. There are a lot of efficiencies. I think we can actually have a better regulated economy if we had all the data in real time, knowing what people are spending," he says. Watch the video above for more from Joseph Stiglitz on digital payments and cryptocurrencies.

Dimon says we split economy haves and have not. No shit dick who we bailed out.
J.P. Morgan Chase CEO Jamie Dimon said that the U.S. economy has essentially been split into those benefiting from thriving corporations and those who are left behind. "I don't want to be a tone deaf CEO; while the company is doing fine, it is absolutely obvious that a big chunk of [people] have been left behind," Dimon said. "Forty percent of Americans make less than $15 an hour. Forty percent of Americans can't afford a $400 bill, whether it's medical or fixing their car. Fifteen percent of Americans make minimum wages, 70,000 die from opioids" annually. "If you travel around to most neighborhoods where companies live, they're doing fine," Dimon said. "So we've kind of bifurcated the economy." Dimon was speaking at an event at the bank's New York headquarters to unveil a new $350 million program to boost job prospects for people in under-served communities. The J.P. Morgan chairman and CEO has frequently voiced concern about the declining labor force participation rate and the shortfalls of the educational system in preparing people for emerging roles. Making progress against these issues involves companies working with local organizations to provide skills outside of the university context, he said.

JP Morgan Launching Its Own Cryptocurrency
The first cryptocurrency created by a major U.S. bank is here and it's from J.P. Morgan Chase. The lender moves more than $6 trillion around the world every day for corporations in its massive wholesale payments business. In trials set to start in a few months, a tiny fraction of that will happen over something called 'JPM Coin,' the digital token created by engineers at the New York-based bank to instantly settle payments between clients. J.P. Morgan is preparing for a future in which parts of the essential underpinning of global capitalism, from cross-border payments to corporate debt issuance, moves to the blockchain. That's the database technology made famous by its first application, bitcoin. But in order for that future to happen, the bank needed a way to transfer money at the same dizzying speed that those smart contracts closed, rather than relying on old technology like wire transfers.

Bitcoin is below $6,000. But these other cryptos are hot, says trader
Bitcoin fell below $6,000 on Thursday. According to cryptocurrency trader Ran Neu-Ner, it's likely to go even lower. "There's more blood to come," Neu-Ner, who is host of CNBC Africa's "Crypto Trader," said Thursday on "Fast Money." Bitcoin traded down 3.3 percent at $5,885.60 as of 6:54 a.m. ET on Friday morning. "Right now my money is on the market continuing to go down," he said. In fact, Neu-Ner said there's more than a 60 percent chance of a crypto bear market compared with a 16 percent chance of a bull market. "And a bear market means we're going to test $5,350" as the new low, the founder of OnChain Capita said.

Bitcoin price in 2018 could hit $60,000 but another crash is coming
Cryptocurrency entrepreneur Julian Hosp says bitcoin's rapid rise isn't over yet. But there's a catch. "I think we're going to see bitcoin hitting the $60,000 mark, but I also think we're going to see bitcoin hitting the $5,000 mark," said Hosp, co-founder and president of TenX, a firm that wants to make it easier for people to spend virtual currencies. "The question is though, 'Which one is it going to hit first?'" he said. Numerous high-profile critics and several national governments have warned of the dangers of investing in cryptocurrencies, which they say are likely to crash because nothing underpins their value.

Mining rigs, pools and shares: The bitcoin hobby ecosystem Commentary
Over the holidays, I spent many hours reading up on bitcoin, and I was struck by just how large the ecosystem and variety of players was. Putting aside the debate around bitcoin's value, I think there is no debate that this is an intriguing and very very interesting space. As an investor, I'm bullish but cautious, as a hobbyist I can't stop reading about it. (By way of disclosure, I own a very small number of bitcoins. Also I'll tell you about a bunch of services I've played with but I can't vouch for them beyond a cursory examination. There are certainly fraud and theft concerns in the bitcoin universe so caveat emptor.)

In the world of cryptocurrency buzz, blockchain is the real winner
The investment world hasn't seen a party quite like bitcoin and cryptocurrency until 2017. Bitcoin rose about twentyfold in value last year, ethereum surged more than 11,200 percent and ripple, the rising new coin, skyrocketed almost 10,000 percent. Consumed by the growth, many investors are seeing the cryptoworld only in the lens of price movements. But for those who aren't interested in buying and selling and managing cryptocurrency portfolios, there's another way to invest in the space learning and investing in the blockchain technology. Blockchain is a robust technology that resembles the internet in the early '90: It packs the potential to change the way we live, work, consume and interact.

Crypto advocate: Bitcoin's value will come in time
Bitcoin's narrative is hard to pin down, but as with early internet stocks, real traction will come in time, cryptocurrency advocate Meltem Demirors told CNBC on Monday. "New technologies that shift the paradigm take a long time to really understand," Demirors, who acts as chief strategy officer at digital asset manager CoinShares, said on CNBC's "Fast Money." Despite bitcoin's aspiration to be a safe haven asset, the cryptcurrency has not seen a rally with the stumble of the Turkish lira, which hit a fresh all-time low against the dollar on Monday. Except for a brief rally in July, bitcoin has been on a near-steady downward slide since briefly topping $19,000 in December. Even the announcement more than a week ago that the Intercontinental Exchange would help create an open and regulated digital asset ecosystem brought little movement in bitcoin's price.

Audi just unveiled its challenge to the Tesla Model S
German auto manufacturer Audi has given car fans a preview of what its first production electric sedan could look like. The e-tron GT, a concept car, was unveiled at the LA Auto Show in California on Wednesday; it continues Audi's fight to wrest electronic car sales from U.S. rival Tesla. The car, set to arrive in showrooms in 2021, is to be powered by a 590-brake-horsepower motor and should reach 60 miles per hour in less than 3.5 seconds. "One feature that not all the competition can match is the option of fully utilizing the [vehicle's] acceleration potential several times in succession," the company said in a statement.

Bitcoin
Bitcoin suddenly dropped as much as 9 percent on Thursday morning. » Read More Ripple has an ambitious plan to disrupt the cross-border payments business. » Read More Security tokens digital versions of financial securities like stocks and bonds are becoming a new buzzword in crypto. » Read More Bill Miller, Miller Value Partners CIO, joins 'The Exchange' to discuss where he sees markets going in 2019, his stock picks, if he sees an economic slowdown coming and his thoughts on cryptocurrency. » Read More Bill Miller, Miller Value Partners CIO, joins 'The Exchange' to discuss where he sees markets going in 2019, his stock picks, if he sees an economic slowdown coming and his thoughts on cryptocurrency.

Bitcoin falls after Goldman reportedly drops crypto trading plans
Bitcoin slipped below $7,000 Wednesday after a report that Goldman Sachs is abandoning plans to open a trading desk for cryptocurrencies. The world's largest digital currency fell roughly 6 percent to a low of $6,866.06, according to data from CoinDesk. Goldman still sees the regulatory environment as ambiguous, according to Business Insider, which cited people familiar with the matter. The Wall Street giant has been considering the launch of a new trading operation focused on bitcoin and other digital currencies for the past year. The bank's CEO Lloyd Blankfein tweeted in October that Goldman was "still thinking about bitcoin."

XRP and ether drop double digits in massive cryptocurrency sell-off
Bitcoin has had a tough week but it was other, lesser-known cryptocurrencies leading the selling-spree Tuesday. Ether, which is the second largest cryptocurrency behind bitcoin, was the biggest loser among the top five by market capitalization and fell more than 12 percent, according to data from industry site CoinMarketCap.com. Ether is down 65 percent this year and was trading near $260 Tuesday after starting the year above $760. "The crypto market seems to have hit panic mode, with prices falling significantly across the board," said Matthew Newton, analyst at global investment platform eToro. "As we can see in the case of Ether, investors seem to be increasing liquidations of their ICO holdings, with significant drops in price and increased volumes."

Bitcoin price: Cryptocurrency market drops as XRP, ethereum plunge
Over $6 billion was wiped off global cryptocurrency markets in a day, led by XRP and ethereum as prices of digital coins continued to fall. The entire market capitalization or value of cryptocurrencies had plunged $6.72 billion in 24 hours as of about 11:32 a.m. HK/SIN time on Friday, according to data from Coinmarketcap.com. That came after a sharp sell-off across the board on Thursday, which erased billions of dollars of value in a matter of hours. Friday's drop was led by XRP, which was trading at around 39.13 cents at 11.32 a.m. HK/SIN time, marking a 7.9 percent drop from the day before. It fell as low as 37.89 cents. Ethereum also fell to around $191.07, dropping 7.4 percent from the day before.

Weiss Ratings gives ethereum higher rating than bitcoin
Weiss Ratings, which claims to offer the first "ratings" on cryptocurrencies, has judged ethereum to be better than bitcoin. The securities ratings agency announced Wednesday that it gave ethereum a B rating because it "benefits from more readily upgradable technology and better speed, despite some bottlenecks." Bitcoin received a "fair" C+ rating because the digital currency is "encountering major network bottlenecks, causing delays and high transactions costs," according to a release. "Despite intense ongoing efforts that are achieving some initial success, Bitcoin has no immediate mechanism for promptly upgrading its software code."

50 Cent 'forgot' he had bitcoin now it's worth over $7 million
Rapper 50 Cent, also known as Curtis Jackson III, has reportedly amassed a small fortune in cryptocurrency. Jackson racked up about 700 bitcoins after agreeing to accept digital currency as an alternative form of payment for his 2014 album "Animal Ambition," according to TMZ. That stake is now worth over $7 million. In a now-deleted Instagram post, the 42-year-old took to social media to congratulate himself. In a post referencing the original TMZ report, he wrote, "Not Bad for a kid from South Side, I'm so proud of me." He followed up with an additional comment saying, "I'm a keep it real. I forgot I did that s---."

50 Cent backtracks, swears he's not a bitcoin millionaire
Rapper Curtis Jackson III, also known as 50 Cent, is correcting himself about the bitcoin fortune he implied he forgot he had, and which would have been worth over $7 million. He's now saying he never had it at all. In January, Jackson shared to his social media accounts a TMZ report claiming the rapper had raked in around 700 bitcoins during a 2014 album sale. CNBC Make It reported that a stake of that size would be worth about $7.8 million. Now, however, Jackson is swearing there is no fortune. On Friday, under penalty of perjury, the rapper filed documents relating to his 2015 Chapter 11 bankruptcy case to clarify that he doesn't own, "and have not owned, either a bitcoin account or any bitcoins."

Cryptocurrency slammed by HBO's John Oliver makes a 30% comeback this week
Cryptocurrency eos, which was criticized by HBO's John Oliver in a recent segment on investment fraud, is making a double-digit comeback this week as investors bet on more user adoption. Eos was the only one of the 10 largest cryptocurrencies trading higher over the last 24 hours as of Thursday afternoon, according to CoinMarketCap. The coin traded near $7.01, up about 37.7 percent since Friday's close. In contrast, more widely known cryptocurrencies are struggling. Ethereum is down about 11 percent, and bitcoin is up about 4 percent since Friday, according to CoinMarketCap. Eos is a cryptocurrency for a forthcoming platform called eos.ios. The system intends to support more efficient operations for "decentralized applications" than existing platforms such as ethereum. If eos.ios is successful, proponents expect it could bring on much greater adoption of cryptocurrency-related technology.

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