Bitcoin Falls 65% in 2022 Failing to Live Up to the Store of Wealth Billing

Leading cryptocurrency Bitcoin in 2022 failed to live up to its desired purpose esposed by its proponents as being a safe asset that only went up and was disconnected from fiat currencies. In 2022 Bitcoin dropped 65%, Solana collapsed 94%, Cardano 81% and Ethereum lost 68%. BTC was hovering around $16,500 on December 30, well below its all-time high of nearly $70,000 hit in November 2021. The fall coincided with the rise in interest rates and the strength of the … Continue reading “Bitcoin Falls 65% in 2022 Failing to Live Up to the Store of Wealth Billing”

Crypto Tokens are Like Pet Rocks says JPMorgan’s Jamie Dimon

In an interview Tuesday on CNBC JPMorgan CEO Jamie Dimon commented on cryptocurrencies and their delusion, as he has warned a number of times. He labelled them “decentralized Ponzi schemes” back in October. A clearly annoyed Dimon with the incompetency of CNBC and their ilk when asked on Crypto, who we should remind was mocked multiple times by crypto zealots and pay for play analysts like those on CNBC responded in kind. When asked about after the FTX mega or … Continue reading “Crypto Tokens are Like Pet Rocks says JPMorgan’s Jamie Dimon”

How the Ethereum Merge Changes the Cryptocurrency Marketplace

The Ethereum merge went through without a hiccup, except the Ether price did fall over 10%, 15% top to bottom. The event that cryptocurrency investors had been excited about for a long time. The Ethereum crypto network runs Ether, the world’s second-most-valuable digital currency merged early Sept. 15. The migration of Ethereum to proof-of-stake has created much excitement since the successful merge in testnet. The Merge will change how transactions on Ethereum are ordered with the aim for the network … Continue reading “How the Ethereum Merge Changes the Cryptocurrency Marketplace”

US Justice Dept Seized $3.6 Billion in Bitcoin in Largest Financial Seizure Ever

The US Justice Department announced it has seized over $3.6 billion in cryptocurrency at today’s prices in what has been touted as the single largest financial seizure ever. They seized bout 94,000 of the 119,754 Bitcoin they alleged as stolen. It would be worth about $4.1B at today’s prices. The DoJ arrested Ilya Lichtenstein, 34, and his wife Heather Morgan. 31, with conspiring to launder cryptocurrency that was stolen during the 2016 hack of Bitfinex. The couple will make an … Continue reading “US Justice Dept Seized $3.6 Billion in Bitcoin in Largest Financial Seizure Ever”

Bitcoin Fever Takes Hold, South Korean P.M. Warns BTC May Corrupt Youth

Bitcoin Fever has taken hold across the world; the most hectic example appears to be in the US where FOMO players have pushed it on some exchanges as high as $19,500 (GDAX) whereas more conventional (yes, I did say that) exchanges saw $17,000. There is one problem; Price discovery, the South Korean PM sees it as much worse. Bitcoin : The best of times or the worst of times? Keep in mind $BTC began just months ago under $4,000, days … Continue reading “Bitcoin Fever Takes Hold, South Korean P.M. Warns BTC May Corrupt Youth”

Bitcoin Up $1000 Since Jamie Dimon Said Not Talking About It Anymore

Been a busy few weeks for Bitcoin and JPMorgan CEO Jamie Dimon, last month he said Bitcoin was a fraud and it collapsed, the crypto currency fought it’s way back. Yesterday at $JPM earnings call he Dimon said he isn’t talking about it anymore. $BTC is up $1000 since.