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So why doesn't this news produce a spike in the price?
Next stage Moody and the like will grant an "AAA" on everything related to bitcoin and the final stage is a worldwide financial disaster.
For one thing, blockchain will never need any bailout, unlike many other ledgers out there.
So why doesn't this news produce a spike in the price?
Earlier quoted context omitted.
Just like any other market when you read about it in the news, it has already been factored/baked into the price most likely.
Don't present this as a fact please. EM hypothesis is still a hypothesis.
This isn't so much a bet on bitcoin as it is a bet on virtual currency. If another currency trumps bitcoin, Coinbase will become the wallet for that. So as a VC, if you buy the digital currency story, this seems like an intuitive investment.
virtual currency ? money as we know it is already a virtual currency made by institution you can sue. Bitcoin is a virtual currency made by a virtual institution no one knows. The only reason you'd like to switch for a new currency is because it is a more trustworthy currency i.e one that reflect more the real economy not one based on some crypto algorithm
You're prefectly right. Last time I sued HSBC for money laundering and Goldman Sachs for maket manipulation I got a ton of cash and they learnt their lesson. Bringing the FED down to its knees was even easier.