Posted on 04/28/2016 11:40:56 AM PDT by posterchild
Digital Currency Group is busy these days. In the last four months alone, the company acquired the biggest bitcoin news site, CoinDesk, and along with it, the biggest bitcoin conference, Consensus; it also gave money to Coin Center, the bitcoin industry's nonprofit advocacy group.
On Thursday, DCG announced a laundry list of new investors and additions to its team, and among them is one very big name: Larry Summers.
Summers, former Treasury secretary and former president of Harvard University, is joining DCG as a senior advisor. It is a reminder that Summers believes in the future of bitcoin, the crypto-currency that many fare still skeptical about. One year ago, speaking at the Museum of American Finance, Summers was asked about bitcoin and said, "We have seen so little innovation cumulatively directed at taking the frictional costs out of the system. The notion that there’s going to be a lot of innovation and experimentation around how those frictional costs can be taken out feels like a very important kind of idea.”
(Excerpt) Read more at finance.yahoo.com ...
I didn’t even know “bitcoin” was still around...
This is the first I’ve seen it mentioned in a long time....
Insider alert!
Because a statist like Summers has gotten involved with bitcoin, it goes to show that he values money, any kind of money, ahead of his leftist principles.
These involvements show his real motivation: MONEY.
you need to go to www.coindesk.com or www.reddit.com/r/bitcoin
to keep up with it.
Bitcoin is not dead.
I really hate these slimes. They make it impossible for anyone else to make money while lining their own pockets.
Gotta get rid of those frictional costs. What the hell is a frictional cost?
Uh-Oh...this is not good.
BitCoin is a cashless system that can be useful in certain settings but Summers is a globalist of the worst kind and it is not farfetched to think he has a bigger plan in mind such as NIRP and a cashless set of laws. These things set the foundation for government confiscation of wealth such as what happened in Greece, Cypress, and others.
NIRP is negative interest rate policy meaning the government will cause banks to siphon off savings and wealth on a regular basis. The only problem they face is cash and cash cards which will need to be done away or supplanted by something like BitCoin.
Remember that the Federal Reserve is able to define what is and what is not legal tender. So the above is not tin foil material at all.
It’s going strong as a matter of fact. The value is stable yet increasing and the transaction volume is steadily rising along with venture capital investment. Also, improvements in scale, security and efficiency are on their way shortly with the “segregated witness” soft fork.
sure why not let’s have another bubble with crimes committed but not prosecuted
It’s the kiss of death for bit-coin.
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