Bitcoin Cash is a Must-Own, Says Crypto Investor Brian Kelly
Bitcoin Cash is a Must-Own, Says Crypto Investor Brian Kelly
Brian Kelly claims institutional adoption of Bitcoin is ...
Learn More On Why Brian Kelly Is Launching Blockchain ETF ...
Brian Kelly: Bitcoin Price Decline Will be a Short-Term Event
Bitcoin cash is a must-own, says crypto investor Brian Kelly
Bitcoin’s digital gold, but Facebook’s Libra is the digital dollar—here’s why that matters
The crypto craze is gaining serious momentum. On Tuesday, social media giant Facebook unveiled plans for a new cryptocurrency called Libra, backed by a host of companies including Visa and PayPal, that would function as a digital payment on its platform. Other project partners include eBay, Uber and Spotify, indicating that Libra may eventually be accepted as payment on their platforms as well. Many experts, including bitcoin bull Brian Kelly, see the move as a validation of the rise of cryptocurrencies. But Kelly, founder and CEO of BKCM and resident bitcoin expert on CNBC’s “Fast Money,” said there are some crucial differences between Libra and a cryptocurrency like bitcoin. “This is really the main difference: what Libra is doing is creating a digital version of the U.S. dollar, yen, euro. It’s like a stablecoin, but you still have all the characteristics of a fiat currency, ” Kelly said Tuesday on “Fast Money.” “Bitcoin is … digital gold. And, in my opinion, it’s probably a lot better than gold, but there is no trusted third party involved, and that’s the huge difference.” “You have to trust Facebook that they’re going to hold onto those dollars, they’re going to keep track of the ledger, and that your token’s going to be worth something. You go out, you buy your goods and services on the Facebook platform, whoever else is using it. Maybe Uber somehow is involved. And then you’re left with the Libra tokens that are left over,” he said. That trust defines the main difference between cryptocurrencies like bitcoin and Libra, Kelly said. Bitcoin buyers don’t need to entrust a third party with their money or information, whereas Libra users will have to trust the company that has perhaps been most plagued by issues around trust and privacy: Facebook. “This is about that trusted third party and, to me, that’s the revolution of crypto, is that it is peer-to-peer. You disintermediate financial services,” Kelly said. “So, when you talk about the differences between this and something like bitcoin, bitcoin is trustless. You don’t need to believe that anybody’s going to check that ledger; you can do it yourself.” So, as Libra seeks to provide what Kelly saw as “the next iteration” of platforms like PayPal’s Venmo, it may just open the door for consumers to look into the cryptocurrency market in a more serious way, he said. “This is a huge step forward. Facebook’s going to have a nice-looking wallet that everybody can get on. It’s easy to use. You can start moving this stuff around,” he said. “This validates the technology and gets people involved. To me, it’s like the AOL moment: AOL got you online, Libra’s going to get you into crypto.” Facebook shares fell by less than 1% by the end of Wednesday’s trading session amid some political pushback, but are still up more than 3% this week. Bitcoin prices rose by nearly 2% by the end of the day’s trading session and are up 140% for the year to date.
This Week in Bitcoin: Taxes, Forks, Pranks and Porn
Bitcoin in Brief is your roundup of everything that matters from all over the vast cryptosphere that you might have missed. This week’s daily editions included stories about taxes, forks, pranks, porn and so much more. This weekly edition will bring you up to speed with everything covered; just make sure you keep up. A Panther’s Moonshot Bet On Monday we reported why Pantera Capital bets on a moonshot bitcoin price point, how the world’s most popular decentralized digital asset has been forked more than 70 times, and a growing list of countries likely to let you keep your crypto profits. Additionally covered were Yahoo! Japan which confirmed that it is entering the crypto space by acquiring a stake in an exchange, and a good-hearted wager between bitcoin core and bitcoin cash supporters that exemplifies how ecosystem actors should treat one another. The Tax Man Effect The world’s biggest economy faced the tax man on Tuesday, as the United States and its crypto traders had to pay for last year’s gains. Economists and market bulls were insisting that this fact caused dramatic sell offs, leading to haircuts across the board. We also covered I Pay You, the supposed hack of Ian Balina, and the release of a bitcoin themed clothing line for babies. Pornhub? We’ve Never Heard of Pornhub On Wednesday it was revealed that Pornhub, a website we’re sure you never heard of before because nobody watches porn on the internet, has joined the crypto revolution. We also reported about how South Korea’s loss of ICOs is Switzerland’s gain; how bitcoin is blamed for every crime under the sun; why Ethereum’s Vitalik Buterin is accused of favoritism; and why bitcoin cash (BCH) is getting a ton of love from CNBC’s Brian Kelly. ICO Scares Investors With Ghost Prank On Thursday we indulged ourselves with a bunch of crypto crime news stories, including an international bitcoin heist escape, the fury of a scorned woman, a bear spray robbery, and some whole food violence. The biggest issue of the day was a German online news source claiming that Savedroid has apparently taken the money and run. The company website was replaced with a meme picture, “Aannnd it’s gone.” Founder and CEO Yassin Hankir tweeted a picture of himself on a beach, long gone. All this after having raised $50 million in an ICO. Investors were not pleased. Truths, T-Shirts, Things That Matter The most talked about issue on Friday was the stance that Kraken’s chief executive took against the latest actions by authorities in New York. Jesse Powell has refused to complete a questionnaire, and instead respond with strong-worded language. “When I saw this 34-point demand, I immediately thought ‘The audacity of these guys – the entitlement, the disrespect for our business, our time!…I realized that we made the right decision to get the hell out of New York,’” he said. We also reported about a deal between privacy web browser Brave Software and Dow Jones Media Group to test blockchain technology in digital publishing; and another crypto clothing line – this time for hip adults – by The Hundreds a streetwear brand from Los Angeles. Coinsecure Working With Authorities This Week in Bitcoin: Taxes, Forks, Pranks and PornCoinsecure, the hacked Indian bitcoin exchange, has updated clients on Saturday about its repayment plan. The team said they have been flooded with calls and emails over the last few days regarding the disbursement of funds. And they claim to have been working with the authorities tirelessly since the incident and that there have been a lot of back and forth with several data requests. They add that they have been working on providing the data requested and that has consumed the majority of their time. They wrote that: “We’d like to inform you, that we have started work on the claims process. Our legal team is currently reviewing contracts and our teams are working on putting together the claims form for your perusal. We are hoping that by the following weekend, we should get started and you should be able to submit your claims withdrawal requests. Please understand, that with authorities being involved and investigations underway, things do slow down a bit and we have to follow processes outlined by the authorities.”
A proposed bitcoin cash development fund could give the digital currency more value, says crypto trader Brian Kelly. Potential investors met this past Saturday. Brian Kelly afirma que la adopción institucional de Bitcoin finalmente está aquí. El analista de CNBC Bitcoin Brian Kelly cree que la adopción institucional de Bitcoin finalmente está aquí mientras que la anticipación del comercio minorista continúa aumentando para el activo digital de límite de mercado de $140 mil millones. On CNBC Fast Money, BKCM founder and CEO Brian Kelly stated that the recent drop of BTC and the rest of the crypto market could be mainly attributed to the civil war of Bitcoin Cash (BCH), wherein two camps, one led by Craig Steven Wright, CoinGeek, and Calvin Ayre, and the other led by ABC, Bitmain, ViaBTC, and Jihan Wu, are competing against one another to operate a chain of BCH that secures ... Cryptocurrency investor Brian Kelly said Monday bitcoin cash is the must-own digital currency of the moment. On Saturday, bitcoin cash miners met to discuss funding for a bitcoin cash development fund, he told CNBC. In the fund, miners are “going to take some of the rewards they get from mining and put it in a fund to build stuff on top of bitcoin cash,” Kelly said on “Fast Money ... Brian Kelly while speaking to CoinDesk, has outlined the basic strategy for selecting the eligible companies where they should fit one of the four criteria enterprise blockchain, or companies using the technology to streamline existing business processes; Wall Street disruptors, similar to those developing or offering services on changing how securities are traded, a mining-focused entity as ...
Trader Brian Kelly discusses whether a bitcoin breakout is coming, and how to make money in bitcoin cash. » Subscribe to CNBC: http://cnb.cx/SubscribeCNBC Ab... The biggest bitcoin news of the year, says Brian Kelly - Duration: 6 ... Bitcoin In Early Days But It Will Be A Game Changer: CEO Brian Kelly CNBC - Duration: 5:28. CNBC 63,431 views. 5:28. The ... Bitcoin sees biggest correction in years, and Blockchain Capital Partner says there's even more pain - Duration: 6:48. CNBC Television 30,935 views This is a new asset class in general, says Brian Kelly, BK Capital Management, talking about cryptocurrency regulations and the future of digital coins. » Su... Reported on CNBC 12/05/13. Also, CNBC trader Brian Kelly tries unsuccessfully to buy Bitcoins on MT.Gox due to 10 day verification period