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Monday CryptoNews #4

Weekly overview of cryptoinformation in 3, 2, 1… Go!

1. Cryptocurrencies are at the New Zealand’s gates! The market there has marked more demand than it is able to satisfy. Why is that? Many people who have never been interested in cryptos started to invest their money there. But it is not as easy as it should be. One of the New Zealander cryptomarkets was closed after one of the banks refused to maintain its account. It was not a single action and but the whole market must come to terms with the new reality of young entrepreneurs engaging themselves into blockchain.

2. Will BTC be worth 100,000$ in 4 years? Why not! This is the opinion of Denis Porto of Harvard, who claims that every technology that increases exponetially is compatible with Moore’s Law. After analysing bitcoin charts of recent vintage, Porto noticed that bitcoin’s price doubles every 8 months. Of course not everyone is so positive about this hypothesis, but many investors agree that 5000$?BTC is easy to achieve in next months.

 

3. Couple of days ago, Christine Legarde, the International Monetary Fund‘s Managing Director, encouraged banks and governments to get interested in bitcoin and other cryptos. And today, as Wall Street Journal states, it is quite possible to create an international coin in reply to bitcoin.

It shouldn’t be surprising because not so long ago the government in Dubai came out with a similar idea – creating their own coin. But creating a global digital currency would require IMF to prepare more detailed regulations and protection in order to manage the currency (in other words – get centralized), which is totally inconsistent with the idea of cryptocurrencies.

4. Nothing good is happening in Malesia… One of their governors said that most probably the country will totally ban trading crypto at the end of the year. However, after few days he changed what he said and now he ensures that it is only about regulations connected with registration and accummulating data and underwriting clarity. It can still be disturbing because Malesia looks sideways on China. After Chinese changes in Semptember, Malesian government has released a warning for investors  who want to participate in ICO. Let’s hope there will be no entire ban for digital currencies in this country.

 


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