#Bitcoin Yellen says cryptocurrencies such as bitcoin lack stability and are not efficient for payments Published 3 weeks ago on October 30, 2018 By Viraj S Share Tweet Janet Yellen, as the former head of the United States central bank, the Federal Reserve, rued the fact that cryptos such as Bitcoins could not yet be used for everyday transactions as they lacked stable source value and were largely inefficient in processing payments. Additionally, she overruled the poor stock market performance in October and instead forecast that the present conditions were “excellently, excellent” quoting the 3.7% unemployment rate in 50 years as the cause for such confidence in the current market forces. In an interview with a Canadian fin tech event, the former Fed Reserve head stated, “I think strong growth in the United States is supporting the global economy, although perhaps the global economy, the emerging markets, is beginning to feel some pressures.” Strong fundamentals in US markets The underlying facts which Yellen appeared to communicate regarding US market performance were all positive – highlighting strong labor market of 2%, 3% gross domestic products. Madam Yellen was referring to the latest gross domestic product which beat market expectation and also posted a resounding and unexpected growth of 3.5%. Though inherent risks were part of the outlook, she reiterated that there were sharp elements of balance as well. The ex-financial regulator concluded that the results coming in on the economic indicators are a fact of 2019 as a strong year. Concerned about Monetary Policy The reason to worry, if ever about US market conditions is the latest monetary policy – on a rate above 2%, a strong labor market, and 3% growth in the gross domestic product. “I think strong growth in the United States is supporting the global economy, although perhaps the global economy, the emerging markets, is beginning to feel some pressures,” Fed Reserve policies are a far cry from the no-change days with Yellen at the helm. In less than a year after her exit, the Fed has apparently tweaked prices by over three times, including a fourth hike likely to be announced in December, Yellen proposed. The former Fed chairperson added that, “Nothing should ever be locked in stone, and things can happen. My presumption going into December is that a rate increase is appropriate, but I would watch very carefully and maintain an open mind.” However, the risks that Yellen has identified are – deflating current economic expansion – financial imbalances, errors in federal policies stating that, “Economic expansions don’t die of old age, and there are two things that tend to kill them off: one is the Fed, and the second is financial imbalances.” Future is well scoped If there was one point which Yellen did not tire from reiterating was the tariffs by President Trump on China. Yellen categorically dismissed the move by the businessman-President, dismissing the move as short of foresight and will not be sufficient to recreate or bring back jobs which may of the local citizens failed to hold down. The former fiat-currency custodian did indicate disappointment that cryptocurrencies such as bitcoin are yet to stabilize. Related Topics:Bitcoinbitcoin adoptionbitcoin paymentsBlockchainbtccrypto paymentscryptocurrencycryptocurrency paymentsFEDFederal ReserveFederal Reserve bitcoinFederal Reserve cryptocurrencyJanet YellenJanet Yellen bitcoinJanet Yellen cryptocurrencyMadam YellenMonetary PolicyPresident Trumpstock marketUnited States central bankYellenYellen BitcoinYellen FED Up Next Series E funds from big venture companies arrive at Coinbase for Crypto Adoption Don't Miss IOTA Daily Trading Signals: 30 October Continue Reading You may like Bitcoin is Halal? Will crypto rise with mass Muslim adoption? XRP price analysis and market updates Ethereum Price Analysis: Can ETH cross 200? Why Bitcoin Cash SV is the real winner of the Hash War Spanked by the SEC: Paragon and Airfox ICO Bitcoin Price Analysis: Will BTC Rise Again? 1 Comment 1 Comment Pingback: Former Federal Reserve Chief Reiterates Position on Bitcoin: "Bitcoin Has no Stable Value" - Crypto-News India Leave a Reply Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website #Bitcoin Bitcoin is Halal? Will crypto rise with mass Muslim adoption? Published 5 hours ago on November 18, 2018 By Layla Harding Erol Yarar, the chairman of the international business forum has suggested all Islamic nations to adopt the cryptocurrency system for transactions with each other rather than adopting the US Dollar as according to him the US Dollar is used as a weapon by the United States to wreak economic havoc. Calling US Dollar a ‘Punishing Tool’ Yarar expressed his concerns by stating that the US dollar is used by the United States Government to punish a specific country that the United States is not willing to be in peace with. He also stated that the United States Government uses the US Dollar to lower down the money transactions, for imposing sanctions and for making nations bowing down in front of the United States. Yarar said that the US Dollar is not just a common currency but also a sanctioning tool. Also saying that at the International Business Forum this year, they will discuss the term monetary pluralism for implementing a democratic trading environment and the top features to be discussed at the next International Business Forum meeting would be the usage of Blockchain Technology and Cryptocurrency for the financial sector in the Muslim countries especially the middle east. Yarar said: “We will make a cryptocurrency system, that will be used for international trade among Islamic countries, a current issue.” Bitcoin Halal? Many Islamic Scholars are discussing the real nature of cryptocurrencies with some of them calling it a ‘HARAM SYSTEM’ or ‘ILLEGAL SYSTEM’ while others calling it a ‘HALAL SYSTEM’ or ‘LEGAL SYSTEM’ according to the Islamic principals with some Mosques such as the Shacklewell Lane Mosque in London have also started to accept cryptocurrencies as donations. What do you think about bitcoin and other cryptocurrencies being termed as Halal? Tell us in the comments section below. Continue Reading #Bitcoin Bitcoin ETF: Worlds first Cryptocurrency ETF approved Published 16 hours ago on November 17, 2018 By Nadja Eriksson The world’s first Cryptocurrency ETF has been approved by the Switzerland authorities which will start trading on SIX, the 4th largest exchange in whole Europe which has a market capitalization of over $1.6 trillion. ETF offered by Amun AG Amun AG, a cryptocurrency startup is offering the fund that will allow the institutional investors to invest in the major cryptocurrencies such as bitcoin, ethereum, ripple, litecoin, and bitcoin cash. Hany Rashwan, the CEO and Co-founder of the company said that the following ETP will provide an opportunity to the institutional investors that are restricted to investing in just securities and also give the same opportunity to retail investors that are unable to access cryptocurrency exchanges to due regulatory pressure. The CEO also said that before choosing Switzerland, the company had explored 23 other destinations around the world but found Swiss the most suitable. The ETF will allow investors in buying the market and investing in crypto market as a whole. When investors will be investing in a fund, an amount equal to their purchase value will be held on their behalf by the custodian. Continue Reading #Bitcoin Bitcoin Cash BCH Hash Wars: Who is winning? Published 1 day ago on November 17, 2018 By Janet F. Sanchez The Bitcoin Cash hash war is still on with close to 300 blocks mined on the BCHABC side using the new ruleset, which has also given the BCH network the most accumulated proof of work. Cryptocompare has given the BCH ticker to BCHABC chain followed by Bittrex also appointing the ABC chain with the BCH ticker. The ABC chain has gained more support and also mined more blocks since the split of the BCH chain into BCHABC and BCHSV. The SV chain has performed less work till now. Faketoshi “Satoshi’s Shotgun” Craig Wright had earlier threatened that he will destroy the BCH ABC chain by mining empty blocks using his huge hash power, which is being called “Satoshi’s Shotgun”. BCH ABC has apparently survived the Shotgun. Peter Rizun from Bitcoin Unlimited said: “The difference in network effect stark: BSV has few users, no OSX or Windows clients, no block explorer, perhaps one mobile wallet, and a shotgun that doesn’t shoot so straight,” According to cash.coin.dance, BCH ABC is currently 51.9% ahead on proof of work and is 15 blocks ahead, meaning miners will to secure the BCH ABC side and that exchanges ca resume deposits and get everything back to normal. Many supports believe that the ABC side has already won the battle. Bittrex has listed the ABC chain as BCH and the SV chain as BSV. While many BCH supports are claiming that the war is over and the ABC side is close to winning it, SV supporters still believe that the hash war will continue for weeks and Craig Wright continues to claim that he will destroy the ABC chain by mining empty blocks. What do you think about the hash war? Comment below Continue Reading Advertisement Advertisement Latest Crypto News #Bitcoin5 hours ago Bitcoin is Halal? Will crypto rise with mass Muslim adoption? #Ripple Price Analysis7 hours ago XRP price analysis and market updates #Bitcoin16 hours ago Bitcoin ETF: Worlds first Cryptocurrency ETF approved #Ethereum Price Analysis17 hours ago Ethereum Price Analysis: Can ETH cross 200? Bitcoin Cash1 day ago Why Bitcoin Cash SV is the real winner of the Hash War #Bitcoin1 day ago Bitcoin Cash BCH Hash Wars: Who is winning? Bitcoin2 days ago Cryptocurrency Mining getting too expensive #SEC2 days ago Spanked by the SEC: Paragon and Airfox ICO #Bitcoin Price Analysis2 days ago Bitcoin Price Analysis: Will BTC Rise Again? #Ripple2 days ago Ripple Latest Updates and XRP Market Analysis #Bitcoin Cash Price Analysis3 days ago Bitcoin Cash Price Analysis: BCH post fork downfall Bitcoin Cash3 days ago 3 possibilites that can happen during the bitcoin cash hardfork #Daily Price Analysis4 days ago Cryptocurrency Market losers of the day: BCH, XLM, IOTA, ETC and ADA #Ripple Price Analysis4 days ago Ripple Price Analysis: Will XRP fall ahead? #Bitcoin Cash Price Analysis5 days ago The Battle: Bitcoin Cash ABC Vs Bitcoin Cash SV Live Crypto Prices BTCUSDAUDCADEURBitcoin(BTC) 5618.64057528Ethereum(ETH) 176.719845493Bitcoin Cash(BCH) 385.565147491EOS(EOS) 4.582590061Litecoin(LTC) 42.2816432465Cardano(ADA) 0.0618485057TRON(TRX) 0.0188366883Dash(DASH) 132.584153504NEM(XEM) 0.0932694026 Trending #Blockchain3 months ago What is DigixDAO coin? Trade DigixDAO on Blockonix Exchange. #Blockchain4 months ago What is Aeternity Token and its future? Fully Explained. Adoption2 months ago SWIFT will use XRapid to process payments using XRP. Here is the proof #Blockchain3 months ago What is Mithril coin? Trade MITH on Blockonix exchange. #Blockchain4 months ago Ethereum vs EOS: Which one is the Vanquisher? #Blockchain4 months ago What is Maker Token? Fully Explained. Is MKR overpriced? #Bitcoin3 months ago How to buy Bitcoins in Sri lanka? Explained. #Blockchain4 months ago What is Ontology Token? Is it worth investing in 2018?