European Bitcoin Acceptance
An ETF will allow institutions to flood into Bitcoin through registered vehicles. Whether the SEC approves the Winkelvoss twins ETF is besides the point, institutions interest is already sparked and the money will come in anyway. Btstamp, one of the world's largest bitcoin exchanges, is partnering with one of the largest French banks, Crédit Agricole, to facilitate bitcoin acceptance at investment funds. According to Coindesk:
Japan has recently overtaken the US and China as the highest-volume country for bitcoin trading in the world. The reason is due to increased regulation in Japan, and the recognition of bitocin as legal tender, which allows banking instituions to deal with it directly as of April 2017. Japan is the world's 3rd largest economy and has one of the world's largest banking systems.
The PBOC advised Chinese bitcoin exchanges to prevent withdrawals until they updated their systems to comply with KYC/AML rules. This was easy to see coming since Chinese were using (or at least media reported they were using) bitcoin to circumvent China's capital controls.
Coindesk reports: Chinese Bitcoin Exchanges to Resume Bitcoin Withdrawals Pending Regulator Approval. China's 'Big Three' bitcoin exchanges have announced their intent to resume withdrawals in new statements issued today. This clears the way for Chinese banks to enter the industy.
While many pundits took the drop in volume from the PBOC crackdown as a negatie or even the end of Bitcoin, a more macro look hinted otherwise...
- Chinese Bitcoin Exchanges Suspend Client Withdrawals. I Warned You About Heteronomous Wallets! (BoomBustBlog)Bitcoin.com reports "Chinese Exchanges Suspend Withdrawals for One Month": The two largest Chinese Bitcoin exchanges have suspended Bitcoin and Litecoin withdrawals for one month. The news follows China’ ...Created on 09 February 20174.
- Revisiting the Breakdown of the Macro Drivers Behind Bitcoin's Price Spike, Exactly As I Foretold 30 Day Ago (BoomBustBlog)... culator that... $CNY #Yuan leaking from China into $BTC #blockchain, nearly $20M per hour, showing power of public blockchain & #Bitcoin in capital controls pic.twitter.com/T3mxP6OEkb — ReggieM ...Created on 07 February 2017
- China's Central Bank Eliminates Margin Trading of Bitcoin (BoomBustBlog)There have been rumors that the Chinese Central Bank (PBoC - People's Bank of China) would limit or eliminate margin trading in Bitcoin. It is now official, sort of... Two of the largest Chinese bitcoi ...Created on 19 January 201710.
- The Macro Truth About The Big Bitcoin Pop and Drop: The Mainstream Media Doesn't Have A Clue (BoomBustBlog)... If I'm not mistaken, it pulled back on the 5th. China facing massive capital outflows so .gov is implementing capital controls. Of course, this sends $BTC through the ROOF, as I've warned pic.twitter.com/xriPAXs ...Created on 07 January 2017
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Credit Suisse has been posting cryptocurrency advisories over the last few weeks. They are quite one-sided, although couched in the appearance of objectivity. To explain why it's couched in the appearance of objectivity, and not actually objective, let me give you some background.
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This is a video on the topic of the qualities of Bitcoin blockchain's censorship-proof attributes and how they apply in the world we live in today. It is imperative that you look at this as an dispassionate investor and steward of your assets, and not as a partisan or political supporter of XYZ.