Content adapted from this Zerohedge.com article :Source
by Tyler Durden
While Facebook has decided to close the page on bitcoin and cryptocurrencies, banning ads about bitcoin, ICOs and other "alternative" financial products, Square is delighted to pick up the market share that Facebook does not care about, and as Jack Dorsey, who is the CEO of both Twitter and Square, tweeted moments ago (in his capacity as boss of the latter), he "supports Bitcoin because we see it as a long-term path towards greater financial access for all."
"Instant buying (and selling, if you don't want to hodl) of Bitcoin is now available to most Cash App customers. We support Bitcoin because we see it as a long-term path towards greater financial access for all. This is a small step." Dorsey tweeted.
Instant buying (and selling, if you don't want to hodl) of Bitcoin is now available to most Cash App customers. We support Bitcoin because we see it as a long-term path towards greater financial access for all. This is a small step. >
We also made this!
— jack (@jack) January 31, 2018
And with that one tweet, which put Dorsey on the other side of the room from Zuckerberg who has explicitly opined against crypto - and the millions of Millennials who are addicted to the digital currency - Twitter may have just bought itself several more days of interrogation in Congress where it will have to explain again, and again, and again why a few thousands "Russian" retweets cost Hillary Clinton the election.
Meanwhile, the acceptance of cryptos in society continues, with Line - the chat and payment app with over 40 million users (compared to 13 million for Coinbase) - announcing overnight that it is also starting a cryptocurrency exchange.
The proverbial breaking news: LINE, the chat app with over 200 million users, is starting a cryptocurrency exchange pic.twitter.com/pKZdx825PT
— Wong Joon Ian (@joonian) January 31, 2018
The boring description of "Betquin" as a digital currency with no physical presence increases the ambiguity that this tool or currency derives from the opacity of its innovation and the ambiguity of the source of the management of the protected network it provides over the Internet in various countries of the world.
Whatever economists explain about the composition, it will remain an alternative, innovative or emerging tool, predicting a new era of coded currencies that will protect their value from manipulation and counterfeiting on complex mathematical equations of "logarithms" that can not be manipulated.
Over time, confidence in digital currencies increases with the use of BlockChain, an electronic record that ensures the identification and encoding of complex symbols and financial equations and verifies them among a specified number of network registrars, who are officially recognized in many ways.
With a huge leap in value in formation, and despite its rapid fluctuation, its defenders are still contemplating $ 20,000, but after stabilizing for a simple stage at $ 15,000, it is falling below $ 10,000.
Experts expect that it will continue to roll to $ 8,000, but the final word will remain for money politicians, fund managers and banks who may give this tool recognition and credibility as they continue to spread or unleash a shot of revenge.
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Not only
Jack Dorsey
There are a lot of money giants trusting about bitcoin
Here are some of them
Janet Yellen
Federal Reserve Chairman Janet Yellen described the digital currencies as "speculative" and that they are not a stable source of value and are not legal currencies. In her last press conference as president of the US Central Bank, she described the risks posed by " Plays a small role in the US payments system and has responded to fears of losing money in such financial instruments by saying: "I do not see a major risk to financial stability."
Jimmy Demon
JPMorgan's chief executive, Jimmy Demon, regretted describing it as a means of fraud that would benefit some in countries such as Venezuela, Ecuador or North Korea, and drug dealers and killers could also benefit from it. Demon likened it to being worse than "tulip flowers," referring to the "tulip frenzy" or so-called "manic obsession" that formed one of the worst economic bubbles in the world during the 17th century.
Stephen Menuchin
WASHINGTON (Reuters) - US Treasury Secretary Stephen Menuchin warned on Tuesday not to allow the digital currency to be used to disguise illegal activities, pledging press statements to work with other governments, including the G20 governments, which include the world's largest economies to monitor the activity of those investing heavily in the encrypted currency. "We have to ensure that bad people can not use this currency to do bad things," Menuchin said.
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Well, you guys keep on saying that the currency is devalued, so it makes sense until you think about how little most people are paid and how little most have to lose on cryptos or any other risky investment. Unless you are some kind of true expert—and it does not sound like most of these crypto traders are—I do not see the difference between risking scarce funds by going down one risky avenue v/s another. It is one thing for the highly paid few to speculate with their extra money. Why is that more frivolous than blowing it on luxuries? Most luxuries do not appreciate in value, whereas a few skilled traders might create a nest egg by making trading their hobby. I have seen professionals in areas unrelated to finance—people with plenty of extra money to lose—become experts in things like buying and selling land. It is speculation of a different kind, but it paid off for them. I notice that people like that almost always have a lifetime of either 1) experience with the thing they speculate in, 2) an extra helping of brains or 3) family with those qualities to help them. Fairytale stories about instant riches are so attractive because, in reality, they are so rare.
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@zer0hedge..bro crypto IS the backdoor and the Feral Banksters have backedup the Vault to empty ALL of our wallets of our paper promises.
Ushering in a new era of total lockdown and non-stop surveillance.you guys keep on saying that the currency is devalued, so it makes sense until you think about how little most people are paid and how little most have to lose on cryptos or any other risky investment. Unless you are some kind of true expert—and it does not sound like most of these crypto traders are—I do not see the difference between risking scarce funds by going down one risky avenue v/s another. It is one thing for the highly paid few to speculate with their extra money. Why is that more frivolous than blowing it on luxuries? Most luxuries do not appreciate in value, whereas a few skilled traders might create a nest egg by making trading their hobby. I have seen professionals in areas unrelated to finance—people with plenty of extra money to lose—become experts in things like buying and selling land. It is speculation of a different kind, but it in ..thank you for sharing with us...
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Everything is in the middle.. :) @zer0hedge
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Next will be Food Chain, the worlds biggest food supplier with no actual food. Bye bye Monsanto's. Now whose gonna help me with the project?? 😆
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stability, security, longevity, accessibility, zero cost for use in a payment system for any and all goods and services, future-proof, to name but a few.you have rocks for brains if you think bit coin is anything other than one aspect of the billion uses of blockchain.For most everyone that means a highly risky exchange with high fees. Mining is extremely expensive these days. Normal people are not going to do it.What about transacting directly on the blockchain?A good computer with 24 access to high speed internet. 150GB hard drive storage. 3 days to download the blockchain, then continuous operation after that.Then to get your transaction actually accepted into the chain by a miner you have to pay a fee which various from a little to a lot. I paid 12 cents for a transfer recently, while others have paid as much as $24 (it depends on how fast you want it to be and the complexity of the transaction). And even after your transaction is in the blockchain (a few minutes to hours or days at times) it takes another hour for the transaction to be "confirmed". (which means it is unlikely to be rolled back)Not to be all negative:bitcoin has ...thank you for sharing with us..
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What Jack is saying is that he knows nothing about bitcoin.I am a miner who started in 2012. Bitcoin has become none of the things it was hyped to be. It is not even the things people hype it to be today.irreversible public ledger - no
stable currency - no decentralized - no (and suffers from the 51% problem)
cheap - sometimes
fast - no - exchanges are way worse than banks (though not entirely bitcoin's fault)How are you going to get bitcoins to start with?
For most everyone that means a highly risky exchange with high fees. Mining is extremely expensive these days. Normal people are not going to do it.What about transacting directly on the blockchain?A good computer with 24 access to high speed internet. 150GB hard drive storage. 3 days to download the blockchain, then continuous operation after that.
Then to get your transaction actually accepted into the chain by a miner you have to pay a fee which various from a little to a lot. I paid 12 cents for a transfer recently, while others have paid as much as $24 (it depends on how fast you want it to be and the complexity of the transaction). And even after your transaction is in the blockchain (a few minutes to hours or days at times) it takes another hour for the transaction to be "confirmed". (which means it is unlikely to be rolled back)Not to be all negative:bitcoin has been an excellent speculative investment in 2017.
GDAX has reasonably low fees but is hard to use for non-investors.
miner transaction fees (paytxfee) are not based on the amount, though exchange fees are. Thank you for sharing with us...
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Without AWS, they lost like $700M last quarter .... the core business is hacking up hairballs .... to make it work, they have to drag a massive infrastructure behind them .... sorry, but thats not going to work in the future .... and they currently have USPS providing a last mile service AT A LOSS .... that wont last forever either ...
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A debt of gratitude is in order for sharing this @zer0hedge. It's extraordinary to see this kind of help for the digital currency group. I am a happy that the CEO of Twitter is supporting digital forms of money in a positive way.
I feel that Facebook prohibiting ICO advertisements isn't a terrible thing, and that it might end up being a long haul positive for the cryptographic money group, because of the mental hindrance forced by this square.
A debt of gratitude is in order for sharing, I truly appreciate perusing this substance and supporting it on the Steemit stage, it's an incredible method to peruse these articles easily, without setting off to another site other than Steemit.
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This is absolutely huge if they move forward with it. Most people outside Asia probably aren't familiar with LINE, but this is the #1 messaging app in countries like Japan, Thailand, South Korea, etc. I seem to recall reading it's installed on over 80% of Android devices in Japan. It's like if Facebook or WhatsApp announced they will let people buy cryptocurrency within their app.I use Line as I have a lot of Japanese friends. This will be a great way to introduce a lot more people to crypto. Hopefully I’ll be able to just tip them through the app, easier than tippr, helping adoption.The new herd is coming.
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Try to do this on Facebook.....
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It appears some battlelines are being drawn within the tech community especially among the titans.
Now we are going to see who is really a government crony in spite of the rhetoric of wanting to improve humanity. (Marky Mark).
By the way, I just read the headline, FB had bad earnings report which is hitting their stock after hours.
Those who embrace crypto are going to forge ahead, those who resist it are going to get crushed.
It is really that simple.
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This is Q4 2017 earning, so it really doesn't have a lot to do with recent events ( if that is what you are implying). Generally agree on the crypto part :) Even Jamie Dimon sees it now, LOL :)
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https://steemit.com/cryptocurrency/@mdafjal786/get-free-usd381-within-1-mintue-free-ico-635-coin-per-coin-0-60-usd-according-to-yobit-net-exchanger GET FREE $400 coin! FREE ICO :)
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Thanks for sharing this @zer0hedge. It's great to see this type of support for the cryptocurrency community. I am a glad that the CEO of Twitter is supporting cryptocurrencies in a positive manner.
I think that Facebook banning ICO ads is not a bad thing, and that it may prove to be a long term positive for the cryptocurrency community, due to the psychological barrier imposed by this block.
Thanks for sharing, I really enjoy reading this content and supporting it on the Steemit platform, it's an excellent way to read these articles with ease, without going to another website other than Steemit.
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Disclaimer: I am just a bot trying to be helpful.
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sooner or later facebook must accept the changes proposed by the new financial world
thanks Mr Facebook
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That would be the case. We all know that crypto money will be your currency for the future. This company accepted the crypt money. He did it to not disappear. If other companies do not accept the value of their crypt money, they will disappear. Because we're going to have crypto money. If we do not lose our faith in this paralysis and not lose it. We will win. Tum will have to accept and support the world's crypto money. Here's to drink
Cheers
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weill i alwaya read yur post and gat many things to learn do we suport bitcoin or there should be other currency i mean if there will be bitcoin there i will be no goverment and i think goverment is must it can lead us to distrcation
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Facebook has instead maliced itself. this completely shows they are not together with people making a living and bettering their and standards of living. And this is going to hit them badly, as they are starting to lose lots of users. Kudos to Jack Dorsey, for laying a platform for the people that want to financially stabilise themselves. Line has made a decision that will move cryptocurrency to a new level. More people will be joining in big numbers.
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Well, I am not surprised. When facebook doesnt want it. Someone else will capitalixe on the ooportunity. I am kind of surprised that Dorsey is that much "pro" bitcoin. Well i guess he has a vision. The crypto exchange part is like lets make a crypro exchange with our customer base, because thats ehats hot right now. Lol.
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Or maybe he is just Anti-Zuckerberg, LOL
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Well, pretty possible. I think its "all abou the money, money" Twitter sees it as a chance for a bigger market share - why not. Might lift their stock a bit.
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If the target to the cryptocurrencies was the moon now I think we might reach the sun. (So many new people bringing so much money to the markets)
Facebook is trying to play it safe, avoiding to be associated with scams that might come and already exist in this crypto world.... while twitter, as you say in the post, is thinking about the long term, like many of the investors that i know in crypto.
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Facebook is spooked about SteemIt!
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A coin replaced my father... read how below:
https://steemit.com/bitcoin/@marioiii/tron-trx-is-my-daddy
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I think Bitcoin may have a great future given the adaption of lighting networking and other upcoming innovative technology coming through. This will push this "digitial gold" for more mass adaption by lowering the fees and possibly the translation times. CNBC often calls bitcoin experts and wall street analyst to predict the price of bitcoin by the end of 2018...and most have said it will be $25k! Looks like Bitcoin still is a great investment asset for your portfolio even if you buy few bitcoin and keep it for few years! Holding is a key to success in cryptocurrency for now. There is not much to day trading unless you are trading in a large volume...then only small fluctuation would matter a lot and bring in profits.
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It's great news that Line has joined the bitcoin craze . It would be huge if they manage to launch a crypto exchange . I hope they become successful with this initiative . I want to see more competition between exchanges so that we could get better exchanges with better functionality and tech .
The launch of an exchange from Line would increase cryptos access to the masses , one more step closer to mass adoption . 2018 will be huge year for cryptocurrencies . It does not matter if Mark Zukerberg , Facebook supports cryptos or not , this world is full of new investors who want to join cryptos .
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If you disagree with Jack Dorsey, you're a Putin puppet and Russian propaganda outfit...
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Hillary Clinton did seriously not loose the election due retweets, she lost because she is a corrupt untrustworthy person.
Its a good thing when internet companies supports internet money, it makes good sense, sucker-berg knows his platform will die at some point due to crypto.
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Square is a beast @zer0hedge! I bought there stock (SQ) at $25, sold it at $48! It went down into the $30's and is now back in the $40's... thinking about getting back in. Not only are they rocking payments for Small Businesses, they are also expanding their business with loans, and now crypto. And they still are expanding in Europe & Asia. Love this company!!!
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