PBOC banking on collapse of the Dollar: What about Bitcoin?
China has a very long history; it has seen times of economic boom and economic recession come and go, it is a nation that has learned the importance of thinking in the long term. Where America and Europe are like blue-collar workers planning on blowing their wages on a Friday night whereas China is more like their wealthy uncle planning on investing his pension surplus for the benefit of his children and grandchildren. Maybe we should pay more attention to what China is doing. In April 2009 the Peoples Bank of China (PBOC) surprised the world by announcing that it was holding 1,054 tons of....
Related News
Collapse. It seems to be a word that is becoming more and more relevant in our everyday lives. The economic collapse of Greece. The collapse of the Petrodollar. The collapse of our civil liberties and constitutional rights. And the upcoming collapse of the U. S. Dollar. There's a lot on our plate right now, but why not lay all the cards on the table? What would happen if Bitcoin collapsed? This possibility is much closer than you think, and efforts to avert it are underway, but what if nothing was done? Let's pretend everyone just acted like everything's peach fuss with Bitcoin and its....
Following the EU’s adoption of its revised Payment Services Directive (PSD2), an industry player has said it will cause “the collapse of the traditional banking infrastructure.” PSD2, which allows third-party companies to offer banking services to consumers, could eventually transform banking in 67 countries worldwide through a ripple effect. Speaking to South African tech publication Gadget, Thomas Pays, CEO of i-Pay, a startup set to benefit from the legislation, said 2017 would be a watershed moment. “You are actually looking at the collapse of the traditional banking infrastructure and....
As a follow up to my piece "Why Bitcoin Value vs The U. S. Dollar Does Matter (And Never Will)", it is necessary to understand the fate of the U. S. Dollar is set in stone. The U. S. Dollar must collapse. Fait accompli. The average American is ignorant to this fact because: 1) An ignorant American consumer is the government's best customer. If Americans knew what was going on in the global economic markets, and what Washington ISN'T DOING to correct it, they'd storm the White House this evening! 2) The U. S. has not had an economic collapse in the last 80 years; so 95% of Americans don't....
In some ways, Bitcoin still hasn't recovered from the fall of Mt Gox. The U. S. Dollar price of Bitcoin has never come close to the heights set at this time last year, just before the collapse. Mainstream media has latched onto this as the most important Bitcoin development in 2014. This misses the point of Bitcoin and the Blockchain entirely (see my article on the Bitcoin vs U. S. Dollar value for more information), as it is not here to replace the U. S. Dollar or compete with its status at this time. Many things have strengthened Bitcoin this year as well. While Bitcoin's Dollar value....
Ethereum price collapsed against the US Dollar due to a sharp selling in BTC after the PBOC investigation announcement. More losses to follow in ETH/USD? Key Highlights. ETH price made a sharp downside move against the US Dollar, and broke the $9.80 support zone. Yesterday’s highlighted connecting bullish trend line on the hourly chart (data feed via SimpleFX) of ETH/USD was cleared to open the gates for more declines. There was a sharp decline in Bitcoin price due to the PBOC investigation announcement, which caused a decline in ETH too. Ethereum Price Declines. ETH price was seen holding....