Steve Forbes: ‘Bitcoin Is a High-Tech Cry for Help’

Repost @bitcoin.info

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In an interview with the Center for Natural and Artificial Intelligence, Forbes Inc chairman #SteveForbes weighed in on cryptocurrency and the future of money.
Forbes described cryptocurrencies as a “high-tech cry for help” borne from “the instability of government-printed money today.” Crypto too volatile for currency
Forbes criticized the volatility of crypto assets, describing #Bitcoin (BTC) as looking like “steak” one day, and “dog food” the next.
Contrary to many crypto supporters, Forbes took aim at the hard cap on Bitcoin’s supply, stating that many within the virtual currency community have “made the mistake of thinking that if they restricted the supply it would create value.” The media magnate asserted that effective money commodities “facilitate commerce” and do not “control the economy,” concluding that monetary forms that are overly scarce “become an impediment to commerce.
While noting that #crypto assets have seen significant adoption as a store of value in countries like Venezuela and Syria that are facing monetary crises, Forbes emphasizes the appeal of crypto as a symptom of failed economic policy and not the virtues of Bitcoin as a money commodity.
Crypto won’t receive permission from government
Looking forward, Forbes asserts that “cryptocurrencies have to be extremely easy and frictionless to use” and less volatile to spark widespread adoption as a mainstream means of payment. “Eventually, with all of the brainpower being applied to it, someone will do it,” he adds, noting the likes of Facebook’s Libra project, and even Amazon, as possible contenders to lead the hypothetical crypto revolution.
Forbes also emphasized that cryptocurrencies will not emerge without political struggle, asserting that crypto “won’t receive permission from the government” to disrupt the economic orthodoxy “You just go and do it, and then deal with the aftermath,” he added.

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SS18 By Glider Yachts

Repost @cheddar
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Yacht got to be kidding us with this one. .
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Leaked Pentagon War Documents Reveal Bitcoin War Plan

Repost @thecryptograph

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The United States has been creating military simulations, otherwise known as ‘war games,’ for years now. In fact, the Pentagon and various professional analysts created a permanent war gaming facility for simulations. This week a report indicates that Pentagon officials have purportedly created a war game that involves Generation Z (Gen Z) and the rebels leverage bitcoin to fight a corrupt system.

On June 5, 2020, the news outlet, The Intercept, published a leaked document that shows the Pentagon’s alleged plans for a specific war game. The game is a theory or simulation of events created theoretically, so analysts can discover what could happen if certain things transpired. Essentially the Pentagon’s latest war game simulation theory involves the cryptocurrency bitcoin and the generation known as Gen Z.

The phrase Gen Z is a demographic of individuals that have succeeded the Millennial generation. Gen Z kids were born in the mid-to-late ‘90s and the generation ends around the 2010 region. Most Gen Z kids are extremely comfortable with technology from the digital age.

Essentially, the war game scenario created by the Pentagon is called a “Notional Exercise Material for Educational Purposes Only” and it was allegedly distributed by Joint Land, Air, and Sea Strategic Special Program (JLASS). The documents obtained by The Intercept describe a scenario that involves Gen Z fighting a corrupt government run by financial incumbents and corporate entities. The Gen Z rebels basically take back a number of stolen funds from the status quo and they put the money into the cryptocurrency ecosystem, specifically bitcoin.

Basically, The Intercept highlights that the war game scenario becomes a “global cyber campaign to expose injustice and corruption.” Interestingly the Pentagon war game that involves Gen Z and bitcoin comes at a time when the world is feeling a lot of unrest.

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How About Defunding The Government? | The Dollar Vigilante

1/3 Of Institutions Have Invested Into Crypto Says Fidelity

Repost @thecryptograph

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A survey published by Fidelity has found that more than one-third of institutional investors globally are exposed to crypto assets.

A Fidelity survey of 774 institutional investors found that more than one-third of firms worldwide have invested in digital assets or derivatives.

While 36% of institutions own crypto globally, multinational financial services company Fidelity found that only 27% of the 441 U.S. institutions surveyed are exposed to crypto — although that’s up from 22% last year. Close to half of European institutions are long on virtual assets.

Bitcoin (BTC) is the most popular cryptocurrency investment, with more than a quarter of respondents holding BTC, while 11% of firms own Ether (ETH). Fidelity commissioned Greenwich Associates to conduct the survey from November until early March — with the data reflecting the crypto positions of firms as of before the violent ‘Black Thursday’ crash that saw crypto prices drop by 50% or more.

More than 60% of institutions who are exposed to crypto have purchased on the spot markets, with the other 40% opting for derivatives.
While many institutions are yet to pull the trigger on crypto, six in 10 respondents now “believe digital assets have a place in their investment portfolio”. Only 20% of participants indicated that they do not find anything about the crypto asset class appealing.

Fidelity’s Tom Jessop stated: “These results confirm a trend we are seeing in the market towards greater interest in and acceptance of digital assets as a new investable asset class.” Looking five years into the future, 91% of respondents indicated that they expect at least 0.5% of their portfolio to comprise crypto assets.

Over recent months we have also seen Grayscale’s Bitcoin Investment Trust aggressively ramp up its BTC accumulation; Absorbing at a rate equal to 33% of newly mined Bitcoin during Q1 of 2020 to roughly 1.5 times the rate of new supply since the halving.

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Winklevoss Twins To Star In Upcoming Cryptocurrency Film

Repost @thecryptograph

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The Winklevoss twins are making a movie about the Winklevoss twins and the firm is an adaptation of “Bitcoin Billionaires”. David Fincher’s movie The Social Network committed the origins of Facebook to film. A major part of that drama brought to light how Mark Zuckerberg allegedly stole an idea from the Winklevoss twins to create Facebook. According to Deadline, Cameron and Tyler Winklevoss have partnered with Stampede Ventures to create a film about their own adventures in cryptocurrency. An adaptation of Ben Mezrich’s Bitcoin Billionaires, the film will detail how the twins invested in Bitcoin payment processor BitInstant, and eventually became the first people to make $1 billion from the cryptocurrency.

Stampede Ventures is headed by former Warner Bros. production chief Greg Silverman. The company has yet to release a movie. It had planned to release its first film, Pink Skies Ahead this spring, but the premiere was delayed due to the coronavirus pandemic. Stampede has officially announced 22 other movies thus far.

Bitcoin Billionaires seems like it could be an odd choice for a film adaptation, but several of Mezrich’s other books have been turned into hit movies. The Accidental Billionaires was the source material for The Social Network, and Bringing Down the House was adapted into 21. With that track record in mind, this movie could turn out to be a success. That said, the fact that the Winklevoss twins are making a movie about themselves has a whiff of Tommy Wiseau to it.

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Podcast Giant Joe Rogan Admits To Using Brave Browser

Repost @thecryptograph

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Joe Rogan and Reggie Watts just talked up Brave to millions of people.

Podcaster Joe Rogan has revealed that he uses the privacy focused Brave browser to avoid internet ads and Google tracking in the latest episode, which features American musician and comic Reggie Watts.

It’s one of the most high profile endorsements in Brave’s history with Rogan’s podcast downloaded more than 190 million times each month. The show was recently licensed to Spotify in a $100 million deal. This latest episode has already received 1.7 million views on YouTube in the first 24 hours.

In the 2.5 hour episode, Rogan and Watts devoted almost 30 minutes to discussing Internet privacy, apps and ads: “If you want to use Instagram or if you want to use Facebook, you’re getting tracked.” They discussed their difficult experiences with many of the major social media apps along with Google’s intense surveillance and tracking and pointed to a recent $5 billion lawsuit filed against Google for tracking users even in privacy mode, without consent.
Rogan said that occasionally an ad reveals a product worth exploring and Watts immediately referred to the Brave browser as his preferred browser to avoid tracking: “I’ll go to Brave, a private browser, and I’ll look up the product there.” Rogan said he also used Brave along with Duck Duck Go, which Watts said was “not as good” as Brave since “the search engine sucks”. Watts even hinted toward a future involving blockchain technology as a whole, saying, “The future is distributed.” The Brave browser, developed by Javascript creator and Mozilla founder Brendan Eich, is similar to Google Chrome but has a privacy centric twist. Users can navigate the Internet without being tracked or inundated with ads. Users can also opt-in to receiving select ads and receive cryptocurrency rewards in the form of BAT tokens.

Earlier this week Brave reached more than 15 million active users, growing 125% in 2019, with more than 5 million daily users.

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