Disclosure Read More The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. No matching results for ». Well, bitcoin must stay relevant to succeed, and this was, at the very least, an acknowledgement from the halls of power of its relevance.
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The importance of “thin air”
Coindesk Michael J Casey Jul 15, What matters is the very fact that a sitting president mentioned cryptocurrencies at all. By Friday evening, the post-tweet price action reflected that. More importantly, the tweet marks a symbolic milestone in the gradual but ever-expanding presence that cryptocurrency occupies in the public conversation around money and policy. Well, bitcoin must stay relevant to succeed, and this was, at the very least, an acknowledgement from the halls of power of its relevance.
3 Things That Will Change the World Today
What matters is the very fact that a sitting president mentioned cryptocurrencies at all. By Friday evening, the post-tweet price action reflected.
More importantly, the tweet marks a symbolic milestone in the gradual but ever-expanding presence that cryptocurrency occupies in the public conversation around money and policy. Well, bitcoin must stay relevant to succeed, and this was, at the very least, an acknowledgement from the halls of power of its relevance. By simply giving it the time of day, Trump revealed that people within the high levels of the U.
And if we think of how gold has been used during the fiat currency era — as protection against the political risks inherent in national currencies — then this one-two punch could hardly be better for those arguing that bitcoin should play that role in the 21st century.
Think about it: they got the most powerful central banker in the world to describe bitcoin in such terms. All of this comes within the context what will trumps bitcoin tweet change the announcement last month of the Facebook-sponsored blockchain and cryptocurrency project, Libra. But it also hints at the power battle at play.
The mounting conversation is about the structure of our financial system and about the dominance of the intermediaries that manage that system: banks, deeply integrated as they are into our system of government, money and power.
As gatekeepers of the dominant fiat currency system, banks — and, by extension, the political leaders who determine how to regulate them — can make it harder for people to use both decentralized cryptocurrencies like bitcoin and corporate-backed private currencies such as Libra.
Most cryptocurrencies, whether bitcoin or Libra, are based on open-source software. Can those governments ban the software? Technically yes, but how will they globally coordinate around that effort, how would they stop it?
The government-owned China Daily reported this week that China was accelerating its plans to produce a digital currency. Probably more important, right around the time of the Libra announcement last month, Bank of England governor Mark Carney dropped a bombshell, saying that the BOE would provide funds to tech companiesan apparent move to spearhead fintech development in London at a time when Brexit has threatened the banking industry.
Things are poised to get mighty confusing, in other words, with private corporate currencies, decentralized cryptocurrencies and government-run digital currencies all competing for primacy in the world of money. Thank to Libra — but really, thanks to bitcoin before it — the narrative economy around monetary innovation is getting seriously amplified.
As the noise level rises, more and more people will inquire and explore alternatives to mainstream currencies such as bitcoin. Essentially, a giant, collective storytelling exercise has been pushed into overdrive. Stories have always driven the adoption of new ideas, building the connective emotional tissue upon which social networks and communities are formed around. And that, in turn — the development of a community around a shared idea — is ultimately what underpins a currency. Trump, who with his 62 million Twitter followers arguably has a broadcasting power greater than any news network, is contributing to this collective storytelling exercise.
If ever there were a community prepared to respond to those three short posts, it was Crypto Twitter, which immediately responded with its special mix of snark, humor and passion. God knows where all this goes. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
It also marks the starting point in a titanic battle over the shape of our global money. Amplifying the Narrative All of this comes within the context of the announcement last month of the Facebook-sponsored blockchain and cryptocurrency project, Libra. Communities of stories As the noise level rises, more and more people will inquire and explore alternatives to mainstream currencies such as bitcoin.
Read more about Disclosure Read More The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic what will trumps bitcoin tweet change and abides by a strict set of editorial policies.
🛑BREAKING: DONALD TRUMP TWEETS ABOUT BITCOIN!!!🛑
What Trump’s Bitcoin Tweet Changes
More importantly, the tweet marks a symbolic milestone in the gradual but ever-expanding presence that cryptocurrency occupies in the public conversation around money and policy. Kyber Network. WIRED challenged political scientist and blockchain researcher Bettina Warburg to explain blockchain technology to 5 different people; a child, a teen, a college student, a grad student, and an expert. Featured Video. All Rights Reserved. The president of the United States was then immediately roasted on Crypto Twitter. In what will trumps bitcoin tweet change Facebook post last week, Marcus responded to concerns about illegal activities on the Libra platform, noting that it would be carefully monitored and adhere to Know-Your-Customer anti-money-laundering laws. What matters is the very fact that a sitting president mentioned cryptocurrencies at all.
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