Bitcoin Can Serve As a Foreign Exchange International Platform: Larry Bates
Larry Christopher Bates of BitLand believes Bitcoin can serve as the best international platform for foreign exchange. In his opinion, an agnostic and interoperable monetary exchange platform is an example of where governments should be focusing their attention on Bitcoin. However, he thinks that it is not necessary for any government to give up control over its local currency. Ever so often, the Bitcoin community tends to rejoice when a country's currency starts tanking in hopes they will rush to Bitcoin as a haven. But Bates says that Bitcoin is not an appropriate haven due to its high....
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A proper understanding of cryptocurrencies will eliminate hype and anti-government rhetorics, thereby attracting major players into the industry, says Larry Christopher Bates of BitLand. He believes that there has come a time when some big names within the FinTech industry are beginning to discuss Blockchain in a more serious manner and seem prepared to walk the walk: “I believe the disappearance of anti-government rhetoric has a lot to do with the involvement of big institutions.” Bitcoin was hurt by rhetoric. Bates says that the problem was that 90 percent of crypto was....
We've seen bitcoin gaining traction among companies ranging from porn merchants through to car dealerships. But this may be the first time we've seen a country adopting it as a currency - well, a country of sorts. The Principality of Sealand has expressed an interest in adopting bitcoin. "Prince Michael" Bates, of the quirky, self-proclaimed independent state, expressed interest in the virtual currency during an interview on the Reddit site. Speaking in an 'ask me anything' (AMA) interview, the son of Sealand founder Roy Bates was asked if the state could print its own money. "Yes, we are....
We all have secrets. We've all passed notes in class or been caught gossiping about private topics, and sometimes, when we've done something "naughty" our need to talk can be even worse. Apparently, this holds true for Ross Ulbricht, the alleged mastermind behind underground illegal marketplace Silk Road. According to former college friend Richard Bates, now a 31-year-old software engineer for eBay, Ulbricht told him that he was the creator and runner of the Silk Road website. Bates is apparently cooperating with authorities to avoid prison time for personal purchases he made through Silk....
Larry Summers, the former Secretary of Treasury of the Clinton administration, is impressed by blockchain technology and believes that it will change financial practice and exchange as we know it today. Dr Larry Summers is no stranger to the world of finance. He was the Secretary of Treasury of the Clinton administration. He has also served as the President of Harvard University and Chief Economist of the World Bank. When he makes a statement on matters concerning the financial sector, the world notices. Speaking at Consensus 2016 in New York, Larry Summers says: “Is the blockchain....
Starting on 1 January 2016, credit and debit cards denominated in the Nigerian naira will no longer be enabled for international use. The decision by the Central Bank of Nigeria to ban credit and debit card purchases abroad comes amid declining foreign exchange liquidity and aims to slow the flow of foreign exchange out of the country. News of the ban broke via BBC. So far one Nigerian bank, Standard Charter, has informed customers of the impending change. The Nigerian economy, the twentieth largest in the world, has been hard hit by falling oil prices, and the unofficial value of the....