Did you know? Famed economist Milton Friedman predicted the future existence of a Bitcoin-like system of electronic cash -- in 1999:
Friedman said:
“The one thing that’s missing, but that will soon be developed, it’s a reliable e-cash. A method where buying on the Internet you can transfer funds from A to B, without A knowing B or B knowing A. The way in which I can take a 20 dollar bill and hand it over to you and there’s no record of where it came from. And you may get that without knowing who I am. That kind of thing will develop on the Internet.”
And indeed it did. Thank you Mr. Friedman.
Also it’s good to see that the Chinese central bank is weighing in on bitcoin again. This time, with an advisor saying that
"Bitcoin does not have the fundamental attributes needed to be a currency as it is a string of code generated by complex algorithms...But I do not deny that virtual currencies have technical value and are a type of asset,"
There it is. Bitcoin is a store of value, not a currency. At least for now.
Meanwhile, there have still been no arrests for the Financial collapse of 2008, but the FBI did just catch a guy who phished $365K from darknet market websites, tricking users and then stealing their credentials. Thanks to the FBI for protecting the users of darknet markets, I guess.
The price of Bitcoin was down 3.19% in the last 24 hours, with a last of 2500, a high of 2602 and a low of 2500.
Thank you for watching. Be sure to Like, Comment and Subscribe.
Today is Thursday July 7, 2017
My name is Thomas Hunt
And that’s what happened, Today in Bitcoin…
Links:
Bitcoin can be an asset but not a currency, says China central bank adviser
http://www.cnbc.com/2017/07/06/bitcoin-can-be-an-asset-but-not-a-currency-says-china-central-bank-adviser.html
Nobel Laureate Milton Friedman Predicted Bitcoin Era 17 Years Ago
https://cointelegraph.com/news/Nobel%20Laureate%20Milton%20Friedman%20Predicted%20Bitcoin%20Era%2017%20Years%20Ago
Hacker Pleads Guilty of Stealing $365,000 Worth of Bitcoin From Darknet Criminals
https://cointelegraph.com/news/hacker-pleads-guilty-of-stealing-365000-worth-of-bitcoin-from-darknet-criminals