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CBDC Could Have “Severely Negative Consequences” for “Bank-Dominated Payments System” – Former FDIC Chair

The former chair of the United States Federal Deposit Insurance Corporation, Sheila Bair, recently published an article imploring the U.S. Federal Reserve to explore central bank-issued digital currencies (CBDCs). In the article, Mrs. Bair argues that the development of a state-issued cryptocurrency could “reduc[e] the risk of financial crises” and …

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Bitcoin News Summary – June 11, 2018

Here’s what happened this week in Bitcoin in 99 seconds.   Japan’s GMO corporation revealed its new ASIC miner, the B2. The device achieves a 24 terahash per second hashrate for a power cost of 1950 watts, making it about 20% more efficient than Bitmain’s S9. The B2 sells for …

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Bitmex to VIPs: Bitcoin Won’t Replace Fiat, Just a ‘Useful Niche,’ Enthusiasts ‘Naive’

Bitcoin Mercantile Exchange (Bitmex) released proprietary research reportedly geared toward their VIPs. Researchers find bitcoin core’s (BTC) deflationary aspects interesting for speculation and as a “payment system,” but predict it will ultimately not usurp government paper, describing the BTC phenomenon as simply a “useful niche,” and those who “think Bitcoin …

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