The Future of Money: How cryptocurrency and the blockchain will change society

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Anarchy reigns supreme in the future of finance, decentralizing the power of banks and, in some cases, the state. But will cryptocurrencies and the blockchains that underlie them solve our financial woes, or only worsen existing inequalities?

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French court recognises Bitcoin as “money”

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The ruling, the result of a dispute between Bitcoin marketplace Paymium and crypto investment firm BitSpread, could benefit the French crypto market.

A French court has ruled that Bitcoin is money, for the first time.

The result of the ruling could lead to more action in the French Bitcoin market.

It’s the first time a French court has issued such a ruling, according to French publication Les Echos.

The ruling came from a dispute between French Bitcoin marketplace Paymium and crypto investment company BitSpread. Paymium had loaned BitSpread 1,000 Bitcoin in 2014. But in 2017, Bitcoin forked into Bitcoin Cash.

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Bitcoin And Cryptocurrencies are a hedge for bad government

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World leaders and delegates depart a family photo session at the Group of 20 (G-20) summit in Osaka, Japan, on Friday, June 28, 2019.

There’s been a lot of news recently, especially with the advent of a news cycle focused on a potential recession, on the role of bitcoin and cryptocurrencies from a short-term investment perspective. Some have placed bitcoin and cryptocurrencies in the category of hedges, a form of digital gold or silver that can be used to store value through inflation and the debasement of fiat currency.

Yet that misses the forest for the trees. Bitcoin and cryptocurrencies at scale are not just a hedge for inflation and an ever-expanding monetary supply — they are a fundamental hedge against bad governance and bad governments. In this respect, it may be easier to evaluate them along a longer-term horizon than just a short-term store of value.

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IRS says it’s sending warning letter to US cryptocurrency owners

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The U.S. Internal Revenue Service (IRS) announced Friday that it has begun sending letters to taxpayers who own cryptocurrency, advising them to pay any back taxes they may owe or to file amended tax returns regarding their holdings.

In a news bulletin, the agency said that it began mailing what it called “educational letters” last week. According to the statement, there are three variations of the letter that were sent.

The IRS further said that it will have sent such letters to “more than 10,000 taxpayers” by the end of this month,” adding that “the names of these taxpayers were obtained through various ongoing IRS compliance efforts.”

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How Crypto could bring tax evasion to the masses

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Loopholes in lending laws are allowing cryptocurrency users to escape taxes — and the government can’t keep up

WWealthy families and merchants first conjured up the idea of offshore banking in 19th century Europe, seeking a place to store funds away from tax-hungry governments in the aftermath of the Napoleonic wars. Since then, it’s been a race to the bottom. Over the course of the last two centuries, deregulation and lenient financial laws have allowed the rich to tread the fine line between legal tax avoidance and illegal tax evasion.

But blockchain, which first emerged as a concept in 2008, is now offering ordinary people the same possibilities. Using cryptocurrency, anyone with a little technical know-how can open what is effectively the equivalent of an offshore bank account — albeit offshore in cyberspace.

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Consumer groups call for a moratorium on Libra until ‘profound questions’ are answered


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Some 33 consumer and public-policy groups sent a letter Tuesday to five Congressional committees and federal regulators asking for a moratorium on the Facebook Inc.-backed Libra cryptocurrency.

“We call on Congress and regulators to impose a moratorium on Facebook’s Libra and related plans until the profound questions raised by the proposal are addressed,” says the letter. “We also urge Facebook to put its implementation of its plans for the new cryptocurrency, Libra, on hold until the Congress and regulators have an opportunity to assess and react to a far more detailed presentation than has yet been made public.”

Among the signatories are the Consumer Federation of America, Consumer Reports, the Economic Policy Institute, the Electronic Privacy Information Center, Public Citizen, U.S. PIRG, and the Woodstock Institute.

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3 powerful ways crypto is completely going to transform our lives

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You won’t believe it till you transact it

Its time to cut the crap. Humanity is on its way to decentralization. The choice is yours to become antiquity in the museum of fiat corruption, or a fast crypto Lamborghini fueled by blockchain on its way to peer to peer financial empowerment.

Lets no longer deny the future of money. It will be digital, it will be apps, it will be borderless and neutral. And it will be humanities biggest escape from the capitalist abyss of pyramidal driven greed destruction. Nakamoto will be proven to be the 21 century Houdini showing the escape route from the financial chains of banks and middlemen slavery. He introduced the technological way that will eventually free most of humanity from the parasitical power of cartels. And if you don’t grasp it yet fully, its OK.

Buckle up for these 3 biggest transformational changes crypto, bitcoin and cryptocurrencies will bring us on the long run.

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This father of three put everything into bitcoin. Here’s what happened next.

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The Bitcoin Family are traveling the world, unencumbered by centralized currency.

When I jumped on a WhatsApp call with 41-year old Didi Taihuttu, he was a few days away from joining his family on CoinBank’s annual Mediterranean “Blockchain Cruise” — a combination vacation getaway and crypto symposium at which all the movers and shakers in the decentralized finance arena get together to discuss a hypothetical future where government-printed money is rendered obsolete, dropping by Mallorca and Marseille along the way.

According to Taihuttu, invitations to blockchain conferences and seminars have piled up ever since he liquidated almost everything he owned (yes, including his house and his cars) and invested his remaining capital in bitcoin. It’s a financial pivot that’s both irrational and dangerous to an outsider, but within the crypto nation, it can make you a legend.

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Facebook plans to launch its cryptocurrency in 2020

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Share of Global Consumers Who Would Switch to a Big Tech Provider for Banking Services, by Segment

 Facebook is in the process of finalizing plans to launch its crypto in 2020, reports the BBC. The social media giant will roll out the digital currency in around a dozen countries by the first quarter of next year, with the company planning to begin testing for the crypto, internally dubbed GlobalCoin, by the end of this year, according to the outlet.

Here’s what it means: Facebook has tech and resources, but trust will be the currency that’ll really determine the success of its crypto project.

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Five things that must happen for blockchain to see widespread adoption, according to Deloitte

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Blockchain is touted as a technology that will revolutionize the finance sector.

Slow transaction speeds and a lack of standardization threaten to restrict growth.

Deloitte has highlighted five hurdles that the technology must overcome to hasten widespread adoption.

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Will cryptocurrency replace national currency in the future?

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Wrapping one’s head around the craze that is, cryptocurrency can often be downright confusing.

However, despite the influx of uncertainty, the digital commerce could become the global finance standard in the near future.

For starters, cryptocurrency is any form of currency that only exists digitally or virtually, and “usually has no central issuing or regulating authority,” according to Merriam-Webster’s Dictionary. Based on blockchain technology, the digital currency market determines the value due to supply (amount in circulation) and demand (volume of buyers and sellers).

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Ryan Van Wagenen discusses how cryptocurrency will play into digital currency going forward

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Ryan Van Wagenen has been with Global Private Equity for nearly a decade and is no stranger to the cryptocurrency movement. Since being promoted to Director within GPE in 2011, Van Wagenen has been covering the firm’s technology coverage and has seen a lot of growth in the sector. The question one must ask about crypto is what role it will play in digital currency going forward.

The crypto market that trades diverse virtual coins can look scary, exciting, as well as mysterious most especially to the casual observer. Bitcoin is the pioneer in cryptocurrency. It drastically surged in price and steeply gone down recently. Initial Coin Offerings or ICO for short in the meantime is emerging at a remarkable rate.

On one end, there are positive bulls and on the other extreme bears like Harvard Economist Kenneth Rogoff who is calling for the fall of Bitcoin and other cryptocurrency. Despite the fact that a number of monetary advisers all over the world remain dubious and doubtful, it is hard to take for granted the remarkable amount of money invested in this kind of currency. Two premier futurists, study and forecast technology trends regarding where they see virtual currency headed and why you must be aware of it.

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