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Bitcoin News - Max Keiser: Bitcoin Will Say Goodbye to USD, Turning into World’s Next Reserve Currency

  • Yuri Molchan
    📰 News

    🔥💸Popular US broadcaster and crypto supporter predicts that alternative financial trading platforms will become more popular in 2019 and Bitcoin along with them

Max Keiser: Bitcoin Will Say Goodbye to USD, Turning into World’s Next Reserve Currency
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Over the years, the USD has been the reserve currency for banks and global markets, mainly thanks to the US economy dominating all over the world.

Some market researchers believe that the USD is about to be deprived of this honorable status, and as time passes some sort of decentralized currency will take its place.

One of the things that may contribute to this is that the balance of power in the spheres of geoeconomics and geopolitics may change the way of trading goods and services on a global scale.

Max Keiser’s forecast for 2019

Many analysts and big-name crypto investors are seeing 2019 as the year which could bring the bullish trend back to the market. Among them is the famous US broadcaster who hosts the Keiser Report.

Keiser believes that the world is moving further in the direction of a ‘de-globalized’ economy which would weaken the US dollar’s grip on global trading and financial operations.

He also mentioned the world’s largest bank payment system SWIFT, based in Belgium. Keiser reckons that SWIFT, which Ripple is now trying to compete with, is under the control of US financial institutions. Supposedly, it is the US that directs SWIFT as to which countries can use the system and which cannot.

Currently, countries – Germany among them – are busy developing their own system of financial transactions, free from US dominance, since the pressure this puts on market participants is too high.

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Keiser on Bitcoin

Broadcaster and former trader Keiser believes in Bitcoin and its high potential since BTC shows no dependency on the USD price or other crucial factors for traditional markets, according to what he shared in a recent interview.

Besides, as per Keiser, Bitcoin has the potential to oppose central banks, thanks to DLT which stands on pure mathematical algorithms and blocks of data. This cannot be manipulated by central banks.

As for the US stock market, Keiser stated that its poor performance is encouraging investors to turn to the crypto sphere, since crypto is largely becoming a good option for storing long-term value, whereas the traditional system of stocks is becoming poorer and poorer.

Even though the BTC rate currently does not look like it is going to soar, Keiser remains bullish in the long run.

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Bitcoin News - Could Bitcoin Come Crashing Down? — The Mystery of Satoshi’s Kill Switch

  • Jack Thomas

    💣😎A cryptic phrase from Bitcoin creator Satoshi Nakamoto has many wondering if the investor has a secret kill switch ready to go should Bitcoin be ‘stolen’

Could Bitcoin Come Crashing Down? — The Mystery of Satoshi’s Kill Switch
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Satoshi Nakamoto, the mysterious creator of Bitcoin and the blockchain, is an enigmatic character that no one is sure of his true identity. But, the creator of this technology did some incredible things, such as building in certain fail-safes into Bitcoin’s blueprint, including cryptography, decentralization, a proof of work consensus, a hard-capped supply and more.

A quote from Nakamoto has been doing the rounds on social media, and many are wondering what he meant by it; a lot of people are reaching similar conclusions. The quote reads:

Bitcoin’s very nature puts the owner of a private key in total control of that Bitcoin, however, if they were compromised, or the key was stolen, then there may just be a way to get things back if this interpretation of the above quote is to be believed.

A kill switch?

Could it be that Nakamoto was researching a way to render that Bitcoin useless? And if the person who rightfully owned the Bitcoin ever regained control of it, the Bitcoin would be restored to its former value and use.

The quote used by the Twitter bot was taken from a 2010 BitcoinTalk forum post that discussed how funds could be moved into escrow for transactions to be completed when both parties are satisfied. In the post, the Bitcoin creator sheds more light into his thoughts.

“Imagine someone stole something from you. You can’t get it back, but if you could, if it had a kill switch that could be remote triggered, would you do it? Would it be a good thing for thieves to know that everything you own has a kill switch and if they steal it, it’ll be useless to them, although you still lose it too? If they give it back, you can reactivate it,” Satoshi said.

Powerful tool, or added feature?

If there is this possibility of a kill switch, it would raise a number of key debates. Does this mean that there is the possibility of someone being able to use that kill switch to bring down Bitcoin with undue reasons, or is this in fact another safety feature that Bitcoin has over any other asset?

No doubt the nuts and bolts of the kill switch would need to be understood and expressed clearly for a true determination to be made, but if it was a viable option as an added safety feature, it could well make Bitcoin all that more attractive to investors.

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