Bitcoin's rise to 11,000 wasn't all due to Facebook's Libra, says Susquehanna's digital assets head

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Bart Smith, Susquehanna International Group head of digital assets, joins ‘Squawk Box’ to discuss how Facebook’s digital token Libra is changing the game for bitcoin.

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25 Comments

  1. A store of value is something that RETAINS purchasing power

    ‪Bitcoin ‬is not a store of value, it is too volatile

    Why is this lie continuously perpetrated?

    Speculative value is not equal to store of value

  2. The main reason Bitcoin is so popular is the blind faith that it 'cannot' be compromised. The fact that China can in one hour destroy Bitcoin, is the equivalent of a nuclear bomb in Washington.
    China can commandeer their top 4 mining pools and order a 51% attack.
    Controlling a mining pool means you can control its hashrate. If you control more than 51% of the hashrate, you can double-spend
    https://arxiv.org/pdf/1810.02466.pdf

    https://bitcoinmagazine.com/articles/report-links-74-bitcoin-mining-china-sees-threat-network

    http://galgitron.net/Post/How-China-Can-Kill-Bitcoin

  3. Bitcoin mempool (unconfirmed transactioms) backing up. Now well over 40k. Train-wreck commencing
    150k is going to be very interesting.
    Long delays and super high fees. Bitcoin will effectively stall
    It can't be resolved. The Bitcoin bubble has to burst, and we will probably take a beating (Alt Coin) , but the baby teeth have got to go

    Crushing reality is going to pop the Ponzi
    The Sheeple are incapable of understanding the tech. Sucker born every minute.
    I cant believe people that have been in this industry for years cant see it – Its a refusal to acknowledge in public – and that makes them no different from the people they were trying to run from originally

    It is simply not realistic to think that as the world slowly begins to understand and use blockchain in their everyday lives, they will choose the slower option, Bitcoin, over currencies that are faster.
    https://www.blockchain.com/btc/unconfirmed-transactions

  4. Don't believe all this crap that Bitcoin is 'digital gold', or that it will evolve past these scaling issues. It's not like gold because gold can have low popularity and still have value. Bitcoin needs a lot of popularity to keep it secure. If it loses popularity, miners drop off, it becomes exposed to double-spend, and then sudden catastrophic failure. But they'll never tell you this, they'll just keep feeding the Bitcoin hopium to you until you OD on lambo ads.

    https://youtu.be/_j3ZrS5xirw

    http://galgitron.net/Post/The-Myth-of-Store-of-Value

    https://youtu.be/_j3ZrS5xirw

  5. Wanna hear something messed up. The first customer of mtGox was the Dept of homeland security and bitcoin was created by the FBI to trap online criminals to their IP addresses.
    why is the first IP associated with MtGox owned by THE DEPARTMENT OF HOMELAND SECURITY? Isn’t that odd?
    From the internet archive:
    Jan 6, 2007
    204.251.15.185
    Reverse DNS: sbcp5.dhs.gov.
    Reverse DNS authenticity: [Verified

  6. The main reason Bitcoin is so popular is the blind faith that it 'cannot' be compromised. The fact that China can in one hour destroy Bitcoin, is the equivalent of a nuclear bomb in Washingtoin.
    China can commandeer their top 4 mining pools and order a 51% attack.
    Controlling a mining pool means you can control its hashrate. If you control more than 51% of the hashrate, you can double-spend
    https://arxiv.org/pdf/1810.02466.pdf

    https://bitcoinmagazine.com/articles/report-links-74-bitcoin-mining-china-sees-threat-network

    http://galgitron.net/Post/How-China-Can-Kill-Bitcoin

  7. How could an asset be down 75%-80% if it wasn’t fundamentally broken and that just like silly.
    crypto-assets are, the price movements are logarithmic meaning you get these 10 x advances. You get these 80% collapses interest, it’s just a hyper volatile asset that’s not unique to crypto, you see the same in  any kind of hyperbolic speculative asset.
    The fundamental difference between cryptocurrencies and equities is that there is no liquidation value in crypto, this is kind of bad. As Bitcoin falls lower in price, it is less valuable, adding that there would be less liquidity, less useful as a medium of exchange and as a store of value.
    This would also lead to less security and hashpower would be tied to the price. The hash power falls gradually along with the price which would mean it is less secure network and valuable.
    Elongating block times, greater risk of 51% attack, and potentially a death spiral, exaggerated risk that is very unlikely to cause the death of Bitcoin. Nonetheless, it could definitely result in 40 minute block times and rise in the transaction fees, which is fundamentally a less valuable network.
    BTC you are in serious troubles. HUGE troubles

  8. BTC is perfect for the system. They love it. The fact that every single transaction is compiled, cataloged and tracked in the blockchain "ledger.
    It is perfect for the establishment.
    On top of this, nearly all major international banks are ingraining blockchain tech and BTC, plus other cryptocurrencies into their business models, including globalist foundation banks like Goldman Sachs. Goldman Sachs LOVES blockchain technology; they even refer to it as the "new technology of trust." Just take a look at their rave reviews on how it will change the world.
    They trick the liberty movement into helping them while letting us think we are poking them in the eye.
    advancement of cryptocurrencies into mainstream consciousness has been helped expertly by the corporate media, which frankly, does not make sense if they are a real threat to the central banking monolith. As they say, when the real revolution happens, it will not be televised. Bitcoin is televised everywhere.

  9. Very bad answers. He should have said when people will hit the wall with KYC they will go for alternative and thats where Bitcoin will come in. Sure the wallet wont support Bitcoin now but people will be more open for the idea of downloading other wallets that do. Thats a game changer. Facebook makes crypto more legitimate, specially for people who do use Facebook and are afraid of crypto.

  10. show me the charts i'll tell you the news…. cnbc covering up the insiders front running the cftc news since April 1st???… corporate news is very untrustworthy

  11. Bitcoins name is certainly going to come up when Mark Zuckerberg meets with congress about Libra which will be televised, this will bring even more attention to Bitcoin.

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