White House Says It Is "Monitoring The Bitcoin Situation"
Content adapted from this Zerohedge.com article : Source
In the past few days two Federal Reserve presidents have discussed cryptocurrencies and concluded they are "niche" and "don't matter today."
The total market capitalization of the entire cryptocurrency space is around $300 billion - smaller than the Top 10 names in the S&P 500.
In the last three years, Bitcoin has gained a similar amount of market cap as Nvidia...
A de minimus percentage of Americans are exposed to Bitcoin and crypto-currencies.
But it appears the last few days of turbulence in Bitcoin - which saw total losses of around $3 billion yesterday, compared to $60 billion lost in FANG stocks alone - has 'triggered' the world's media into a frenzy..
Which led to today's White House Press Briefing and an unusual question from one reporter...
"_Has the president been following cyrptocurrencies at all? _Specirfically the major run-up in it...
Does he have an opinion on it, and** does he feel it is now something that needs to be regulated?**"
The answer was, perhaps, somewhat surprising...
"The [Bitcoin situation] is something that is being 'monitored' by our team...
Homeland Security is involved."
Which made us wonder...
Is Homeland "monitoring" FANG stocks and how dangerous they are?
Is The White House aware of the billions of dollars bing slammed through precious metals paper markets every morning?
Does President Trump have opinion on the massive spike in EONIA this week?
Did Bitcoin just make it to the big show?
Cryptocurrencies and the underlying blockchain is the greatest threat to the establishment we have seen in 100 years. I said all along that Trump, contrary to the claims of being an outsider by his supporters, was really a banker in sheep's clothing. He made a few billion in real estate, that to me proves he is in bed with the bankers.
What fascinates me is the more they talk about regulation, the more powerful bitcoin, in particular, and cryptocurrencies in general become. Wall Street is salivating to get their hands on this which means their money is going to sway the regulators. Wall Street (ie bankers) run the show.
Trump will do what they tell him....all Presidents do.
Agreed. With the cme and others looking at it as a new way to rip the sheeple off I think the bankers will jump on board and sell billions in futures without owning the underlying asset. Same game plan as Gold.
edited to add a yt video
Homeland Security monitoring it?
And people want to claim we arent in a police state.
Thanks for the video....
The one reporter starting his question with "does the President have an opinion..."
I guess he doesnt know Trump....this guy has an opinion even when he knows nothing about the subject.
Hello Taskmaster,
Remember I told you about the app I was working on to automate the millionth of coins indexing strategy? It's almost ready!
I'm sharing with you the first sneak preview.
Hopefully I can publish it this week-end on Google Play. regards
That is awesone @cryptoeagle.
It really is a sound strategy for any new investor....actually for any old one at that.
Where does the wild card ones fit into you program? I look at STEEM and BTS as potential gold mines yet they fall outside your top 20. I guess there is always room for a few extra. Do you have anything outside the top 20 (other than STEEM of course)?
One other question, your app only cover the top 20 or does it have all the coins listed?
Hi Task,
I'm including the top 100 in the app, getting more would slow down the app and the further down the list the worse choices as you can imagine. Maybe in the future I'll add more if there's enough user demand. It's really simple on my side, just changing a variable. Regards
That is awesome @cryptoeagle. It sounds like you really developed something that is useful for people.
I think it sounds like a great app even just to know what amounts of each coin one is holding. I have my stuff all over the place that I have to keep digging up and recounting what I have.
Thanks for the 411.
Hello my friend master of tasks,)
I’m very happy to let you know Crypto Millionaire is up and running, published on Google Play as of today! The same day Bitcoin futures launched, is this historic or what? Hehe.
Download at Google Play:
https://play.google.com/store/apps/details?id=com.freedomapps.cryptomillionaire
You will be one of the first people ever to do so because it’s so new I haven’t had time to write about it and publicize it yet. Hope you like it, and that, most of all, it proves useful to you.
Saludos
A couple things about the app.
I would suggest adding Steem Dollars to it since a lot of people on here might start using it if you and I (and others) promote it.
Is there a way to add a refresh button to it...I presume you have live pricing from somewhere feeding in....can you make it so someone who is OCD can keep refreshing to see what is happening with the portfolio?
It is a wonderful way to keep track of your basic holdings.
Hi TM,
Sorry I couldn't respond to you sooner, the twins are consuming most of my time, they are unstoppable like crypto hehe.
The app feeds from the Coinmarketcap API, Steem Dollars are not available there, only Steem.
Yes, there's a very simple way to refresh, just swipe from the top like you would on most news feed apps. Maybe I'll have to explain it with a text pop up or something like that. regards
Thanks @cryptoeagle.
Downloaded it to my phone. Pretty neat.
I am bit low...can I borrow $296K or I'll settle for 18 bitcoin LOL
I really like this....it keeps a running total of my total crypto.
I might have to write an article about this and promote it....this is really awesome.
I see America trying to look for a way to corner bitcoin as theirs. Bitcoin must really be giving governments sleepless nights with the kind of threat it poses to the way economies will be run in the future world.
Decentralization is the next best invention after iced cream and crispy chicken.... YAY
Nvidia went completely banana for the hunger of hashing power, not certainly because of triple A games on Steam 😂
But anyways, governments will try to find a way to regulate cryptos, but it is completely useless. They are just trying to middlemen something which is designed to be a decentralized p2p network, ridiculous. They either can’t understand it or they’re just dumb.
agree
Bitcoin poses a real danger to the economic dominance of the United States. Because in the future there are no trade exchanges in the dollar currency and the dollar becomes a local American currency and has no global impact... Which means America will lose a lot of control over the world economy.
I don't think America's going to leave Bitcoin alone.
I am not sure there is much that the US government can do....
They can pass their little rules, but cryptocurrencies are outside the control of any government.
De-centralized exchanges are opening up and many are able to circumvent the regulators.
Decentralized exchanges are a relatively new tecnology.
At the moment, in terms of volumes, they are not relevant and this trend will continue for a lot of time: people are flowing into crypto using centralized exchanges that allow to pass from fiat to crypto.
And this is a work that a decentralized exchange cannot do, because you need a central bank account to manage fiat funds and so in my opinion there is no possible decentralization at the moment..
That's a great information of crypto @zer0hedge ✌✌
Monitoring is the bad word :D
With this White House, groping might be a more fitting term.
I'm pretty sure President Trump has absolutely no idea what bitcoin or cryptocurrency is anyways.
"... when to disobey was possible and to enforce was not possible. It was better to look the other way than to command ineffectually." - A Canticle for Leibowitz
Typical whitehouse non-info from stonewall Sarah
Situation lol.
They have no clue what to do. Hopefully they do nothing.
I don't think there's much they can do though
I think the administration will hold off on doing anything for at least the next two years. Just to see what develops and gain more information on the subject.
Nice... by then it will be a multi-trillion market
I am betting on it! I plan on diving into cryptos full "steem" ahead!
And they will be able to do...Nothing about it. mouaha.
But yeah 'bitcoin situation' 'homeland security' I wonder how ignorant they are on the question. Seems a lot.
I was trying to explain bitcoin to my mother. She had very little interest until i was explaining how the government can't just come and take your bitcoins like they could if your money was stored in a bank. I find that so fascinating! The security of it all!
It is really funny how they try to regulate what they don't understand!
This gif sums up gov regulations perfectly and not just Bitcoin. Haha
Very true, they are clueless.
My question is what can they really do? China went much further in its attack on bitcoin than the US can do yet bitcoin can keeps moving forward.
It seems that the more they talk about regulating, the more powerful cryptocurrency gets.
If they're smart they'll get the printing press running and buy BTC.
The banks are already doing that.....they are taking their fiat and getting into crypto....
JP Morgan even got caught with their hands in the cookie jar a couple days after Dimon was blasting it on TV.