that's why we saw the split in bitcoin and bitcoin cash. what is bitcoin? does it remain a stored value? does it become a haven? when you see a flight to value and concerns about north korea -- or does it become more of a payment mechanism? scalehe capacity have to and doing he is see improvements in the transactions? this is how much bitcoin is beating gold. talk about the flood of investors. you are in for a roller coaster ride, whether you hold the cryptocurrency. check out my bloomberg at the moment. , you can into g #btv type in 3394. you get bitcoin investment trust. they do not want to buy bitcoin outright. they want exposure. on the bottom half we see the 90 day volatility of that investment trust is more than three times the volatility in bitcoin. whether you want to be overall, you're in for a rough ride. emily: if you look at the run up in bitcoin, it is dwarfing the run up we saw before the tech bubble and housing bubble. is that a concern? roger: only if you're one bitcoin. if you taken your profits, you're sitting there going not a problem at

. >> easily bitcoin. we brought tom back on set to tell us why he would still buy bitcoin. tom, what do you make of these drawdowns? you seem to be regulation sort of provoked selldowns, actions from china banning icos, shutting down bitcoin exchanges by the end of the month, et cetera >> i think there's two factors one is, there is a liquidity effect china exchanges are 30% of bitcoin volume if you're going to give notice to shut those down, there's going to be forced selling i think that's what we're seeing as seema pointed out, there have been seven times we've seen a drawdown of this magnitude you know, in 2015, bitcoin was 183, now it's 4,000. but the second part has obviously been, you know, a lot of folks talking about bitcoin being a bubble or a fraudulent currency i think you need to be on the other side of that very strongly >> but why >> bitcoin is not as widely held as people think. there's only 300,000 holders of at least $5,000 of bitcoin think about that, that's like saying the iphone was a

. >> host: could anyone buy a bitcoin if they had the resources. >> guest: anyone can buy bitcoin. >> host: how many dollars it would tike buy a bit coin today? >> guest: today, over a thousand dollars. >> host: over a thousand dollars. so it's almost like an ounce of gold. >> guest: it is almost like -- it is -- bitcoin are tending to converge, and to the extend that bitcoin really matures as a currency and as a store of value and as a form of money, its price will tend to converge with gold because gold is the authentic money throughout history, and the abandonment of gold in 1971 began this long era of stagnation and n the global economy. >> host: george gilder, back in the 1850s, 1860s in this country, everybody was printing money and there were all sorts of currencies, and it led to chaos-didn't it? >> guest: yes. well it didn't, actually. cato institute has done a lot of studies of free banking in scotland and canada and the united states, and actually it worked pretty well. but the fact was that a lot of other things were going on during that time, and the transition from free

a fraud i'm a bitcoin miner. we create bit coins. it costs over $1,000 per coin to create a bitcoin what does it cost to create a u.s. dollar? which one is the fraud because it costs whatever the paper costs. but it costs me and other miners over $1,000 per coin it's called proof of work. we have put massive amounts of super computing power and electricity in creating these coins. surely there's some value in that work that we did to create the coin and the fact that bitcoin is consistently growing in its use and its value has to say something. you know, sure, it will rise and fall and it is highly volatile, as all new technologies are and at the same time, it is certainly not a fraud. >> so you're pretty sure that you're not going to lose this bet that you have on twitter >> no, i don't ever lose bets. >> all right then. john mcafee, great to speak with you, thank you >> thank you >> karen >> yes well, 500,000, that would be fantastic for any bitcoin owner, which i am i believe in the bitcoin story i don't know

and so bitcoin cash is on the same roadmap that the original bitcoin from day one was and then just within the last year a bunch of people managed to veered off and intentionally make this a good version a bit calling and they've intentionally made it have high fees they've intentionally made it have long confirmation times they've intentionally made it less useful in business and because the cash is still useful in business has low fees fast confirmation times it just doesn't have as much infrastructure built up on it but i'm really really bullish on because cash i've been selling a portion of my because it's from or because of cash right so it's a great time to china of course china was until recently kind of the biggest area for mining main which is they manufacture chips as well as they're also mining they seem to be supportive of. cash move is that a conflict of interest i think it seems really clear that the vast majority of people that are actually using big calling in commerce prefer because in cash to be quite said wit the vast majority of people whose background is in busi

and so bitcoin cash is on the same roadmap that the original bitcoin from day one was and then just within the last year a bunch of people managed to veered off and intentionally make the segment version a bit calling and they've intentionally made it have high fees they've intentionally made it have long confirmation times they've intentionally made it less useful in business and big cash is still useful in business has low fees fast confirmation times it just doesn't have as much infrastructure built up on it but i'm really really bullish on because cash i've been selling a portion of my. for more because of cash right so it's a great time to china of course china was. buying maine which is a man of action or chips as well as they're also. they seem to be supportive of this because in cash. interest i think it seems really clear that the vast majority are using in commerce prefer to cling to the unsaid wit the best majority of people whose background is in. squarely in that camp i can't count how many big transactions i do both myself personally and for my company every single day

bitcoin prices fall bitcoin prices fell sharply after bitcoin prices fall sharply after china's second—biggest online exchange says it is shutting down domestic trading. and it is the end of the road for the cassini probe, but asia's space economy is about to ta ke but asia's space economy is about to take off. good morning asia, hello world. glad you could join us. i am rico hizon. we begin with crypto currency, and bitcoin is on the longest losing strea k bitcoin is on the longest losing streak in more than a year because ofa streak in more than a year because of a chinese government crackdown on crypto currencies. btcc china, one of the country's the largest exchanges, said it would stop handling trades by the end of the month. there has been a flow of media reports saying that china plans to shut down bitcoin exchangers soon. the central bank is also banned initial quoin offerings, which is used as a way for virtual currency start—ups to raise money. given that a large portion of bitcoin trading is in china, what does this mean for other crypto currencies? i posed the question to the fou

if you think bitcoin is going back up, i think amc is the way to play it >> i think bitcoin is amazing. brian is a genius, i agree with you. i think the institutional ownership of this hasn't started yet, you can't custodian bitcoin. once you see institutional buy-in, it could be trillions. there's a massive opportunity, i know jamie dimon pooh-pooh'd it yesterday, i get it. this is a revolutionary product. >>> ahead, this down stock you're looking at right here, there it is, is up nearly 30% this year. but a top technician sees something that could spell trouble ahead. >>> meantime, here's what else is coming up on "fast. >>> just keep buying >> that's what a top technician is saying about tesla. when you see the charts, you might agree. >>> plus "fast" is going to hollywood in search of emmy gold and perhaps the two stocks that could walk away. thbie g winners this weekend the names when "fast money" returns. ...it starts a chain reaction... ...that's heard throughout the connected business world. at&t network security helps protect business, from the largest financial markets to the

what do we know about bitcoin's influence in china? >> china is important to bitcoin. it is one of the four largest companies with bitcoin trading. it changes a lot. definitely very important. two of the top 10 largest exchanges are in china. the government of china banned initial coin offerings. it was getting to a frenzy in china so the government shut it down versus regulating it. now the rumor is they have given the bitcoin exchanges the order they have to shut down as well. this is where you see the selling happened. this has happened before. they start regulating more, adding more restrictions and rules, and then they bring them back live again. cory: i know ripple deals with bitcoin. what does it mean for countries, places like china? to use these cryptocurrencies as a way to move money and solve problems? >> that is at the core. him and when you see real-world use cases, you can use cryptocurrency to solve real-world problems and make payments more efficient. you can make security settlements more efficient. there is real value in those tokens, in bitcoin. i be

we saw the split in bitcoin. into bitcoin and bitcoin cash. really at the heart of this is what is bitcoin? does it remain a store of value? does it become a so-called haven, when you see a flight to value, when you see concerns about north korea, for example, gold shoots up. as does bitcoin. or does it become a payment mechanism? does the transaction capacity have to scale? do we need to start to see improvements in the size of the transactions? this is how much bitcoin is beating gold. what is interesting is talking about the flood of investors into this market, you are in for a roller coaster ride whether you hold the actual cryptocurrency or you gain exposure via fund. check out my bloomberg at the moment. i am going into g#btv 3994. what do you get? a crypto roller coaster. you see in the white line, bitcoin investment trust. this is where money managers have been pouring their money, who do not want to buy bitcoin outright. they want exposure. on the bottom half, we see the 90-daty volatility of that investment trust is more than three t

we saw the split in bitcoin. into bitcoin and bitcoin cash. really at the heart of this is what is bitcoin? a so-called haven, when you see a flight to value. when you see concerns about north korea, for example, gold shoots up. as does bitcoin. or does it become a payment mechanism? do we need to start to see improvements in the size of the transactions? this is how much bitcoin is beating gold. what is interesting is talking about the flood of investors into this market, you are in for a roller coaster ride whether you hold the actual cryptocurrency or you gain exposure. check out my bloomberg at the moment. going into g #btv 3994. what do you get? a crypto roller coaster. you see in the white line, bitcoin investment trust. this is where money managers have been pouring their money, who do not want to buy bitcoin but they want exposure. on the bottom half, we see the 90 day volatility of that investment trust is more than three times the volatility of bitcoin. whether you want to be overall, it seems you are in for a rough ride, whether you

china is shutting down all bitcoin exchanges. tell us about the ramifications of this move. >> i mean, we do not have hard figures but there are estimates that actually china is roughly looking at about 20% of the bitcoin activities from this move, that this actually could hurt. and we thought early on, in the friday session when the bitcoins dropped by another 11%, dropping below the $3000 mark. just a reminder, two weeks ago bitcoin traded higher than $5,000. >> what is the word on wall street? will others follow suit? correspondent: china actually might be a special case. some of the bitcoin transactions are hard to track and this is probably something the chinese government does not necessarily appreciate. if you look at the moves in the friday session, during the day we saw quite a recovery of bitcoin from the lows, gaining about printer $50. up -- $350. up 11%. the worst fears are getting quieter. >> earlier this week, the jpmorgan ceo said that the coin is a fraud and will eventually blow up -- the bitcoin is a fraud and w

we saw the split in bitcoin. bitcoin cash is at the heart of this. what is it? does it become a haven when you see a flight to value or concerns about north korea for example, gold shoots up. or does it become a payment mechanism? do we need to start to see improvements in the size of the transaction? this is how much bitcoin is beating gold. talking about the flood of investors into this market, you are in for a roller coaster ride whether you gain exposure. check out my bloomberg at the moment. what do you get? a crypto roller coaster. you see bitcoin investment trust on the white line. they don't want to buy bitcoin outright they want exposure on the bottom after. we see the 90 day volatility of that investment trust, is more than three times the volatility of bitcoin. whether you want to be overall, it seems you are in for a rough ride. emily: if you look at the runoff in bitcoin, it is dwarfing the run-up before the tech bubble, the housing bubble, roger, is that a concern? >> only if you are low on bitcoin. if you are taking your profits, it is not a probl

i think that is what is so interesting when we saw the split in bitcoin between bitcoin and bitcoin cash. what is bitcoin? does it remain a store of value? does it become a so-called haven? when you see a flight devalue, when you see concerns about north korea, gold shoots up as does bitcoin. does it become more of a payment mechanism? does it scale? do we start to see improvements in the size of the transactions? this is how much bitcoin is beating gold. let's talk about the flood of investors in the market. you are in for a roller coaster ride by the holder cryptocurrency or gain exposure. check out my bloomberg. i'm going into. .- you can type in 3994 you get a crypto roller coaster. in the white line, bitcoin investment trust. this is where money managers are pouring to buy the don't to buy bitcoin out right. they want exposure. on the bottom half is the receipt of the 90 day volatility of the investment trust. it is more than three times the volatility of bitcoin. whether you want to try to the overall -- you are in for a rough ride. emily: if you look at the run-up in bitcoin, it i

so, whether it's bitcoin, i have no idea if it's going to be bitcoin. i'm reminded of the days where yahoo! and net scape were the search enjogine and google wasnt invented this is a change just like the internet was, so my question for you was you fams famously caller the howing bubble in 2003. took four year, very well done but what i'm asking now, is this bitcoin bubble, is is it a bubble that's ready to burst because everybody gets scared when you say the word bubble or is it a bubble that's ready to expand >> see, for me, the word bubble is unfortunate because it suggest that is a bubble bursts then is gone forever that's not the way real financial bubbles occur. in fact, peter in his book famous first bubbles 20 years ago pointed out the tulip mania isn't dead yet they keep coming uchl prices at flowers exchanges. i don't mean to say we're going to see a burst in bitcoin tomorrow then gone forever we did see a burst in 2013 by the way. it could happen again. and then it could take off again. so, i also don't mean to demean the innovation and techn

so will bitcoin recover from this? can cryptocurrencies still prove to the world they can revolutionise and democratise trading? or are they — along with tulipmania and the dot coms of the 19905 — an unsustainable economic bubble? here's david grossman. bitcoin has many fans but the head ofjp morgan, jamie diamond, isn't one. it's worse than tulip bulbs, he said. it won't end well. someone is going to get killed. he is referring of course to the 17th century tulip mania that caused some bulbs to cost more than houses. before the bubble burst. it is perhaps unsurprising that someone who runs a conventional bank doesn't much like something that's been set up specifically to get around the conventional banking system. indeed one of the reasons for the phenomenal rise in bitcoin and other crypto currencies is that more and more people have less and less trust in the financial system. stock markets have fallen around the world. the financial crisis of a decade ago convinced many that the whole system was in fact rigged,

bitcoin investor. at what point do the alarm bells go off. >> there's a few different things going on here. china move was important. that's what sort of sparked the selloff in the other cryptocurrencies and bitcoin as well being the biggest one. so that is why that went down. i think it was very frothy and looking for any reason to come off it. i think the bitcoin story is very much intact. who knows how it's going to evolve 67 evolve. it's hard to have a straight smooth line. i think it will be very erratic. supermarket sentiment in general is something that will help. all that having been said, if you want to play bitcoin, play bitcoin. >> i don't get why you would fold it in overstock.com bet. those are two deficient risks to put on. >> it's a big hat. if you want to focus on the price of cryptocurrency and focus on that, that's any risk asset. it's got a market cap of $73 billion. the end of the day, if it's a bubble and it bursts, it's not the end of the world. distributed around the world. i wou

trading on exchanges now there has been more talk than usual about digital currency is as bitcoin loses twenty seven billion dollars in market value and j.p. morgan c.e.o. says big going to fraud that won't end well. a former u.s. financial regulator who years ago was the first to speak out about the appropriate role of digital currency used to. and that's now bart chilton thanks for being with here being here with me today bart as a banana regulator you were out there early and often as the first u.s. government official to talk public publicly about digital currency is and in two thousand and thirteen in called bitcoin a shadow currency that c f t c should regulate so clearly you have some strong feelings about digital currency as to what are your thoughts on the chinese decision to band trading on these digital currency exchanges. hey bianco well i think it was you know it's to some extent in evitable that this was going to happen to some place i'm a little surprised that it took place in china because of what you just reported about the large number of investors over there but that

owning better off just bitcoins. in either, you are much better off owning either then and he's her mind. in ether, you are much better off owning either rather than the either mine. they are not that well-capitalized. you don't live that much money on the exchanges. we traded lots of them. --emini here in new york cameron tyler's exchanges is one of our go to places. that got regulated, you feel a little better about it. happens, ieally bad know those guys, you can go down there and give them a shot. tothat was mike speaking bloomberg's erik schatzker. coming up, going digital in hong kong. details, just ahead, this is bloomberg. ♪ ♪ this is bloomberg markets: asia. the richest men and asia's forcesest person joining in hong kong. this will allow you to make and store payments and 4000 retail how that. stephen engle is with me. what do we know about this? just ahead of the interview, i got word that he was meeting jack in this building. he owns it. of course, that is what they were hashing out. i am assuming. th

good or bad, we hear from a bitcoin investor, a.k.a. bitcoin jesus. this is bloomberg. ♪ vonnie: this is bloomberg markets. i am vonnie quinn. shery: i am shery ahn. bitcoin, the most popular online cryptocurrency split in two in august and is poised to split into a third version in november. burrin.com ceo roger called the bitcoin jesus told bloomberg the split is a good thing. >> there is probably going to be another split between the bitcoin legacy, but from that point of view that gives me more coins i can sell for the bitcoin cash, which i think is the most useful one because it has a limited supply but you can move it faster or cheaper than any other one in the world. shery: for more analysis, let's bring in bloomberg executive editor joseph. we are expecting bitcoin -- that going to surpass the 4000 -- bitcoin to surpass the 4000 level. in august, we saw a split because there is one group of people whose vision was to scale bitcoin by expanding the block size. another group wanted to keep the blocks i study but have the layer two transactions

with bitcoin you can access a global market, you just need to set on your website a bitcoin address, you are good to receive the equivalent of your currency on your e-commerce website for you and me, we don't have their currency to send to them, but we can send bitcoin easily so this has a great value for developing the e-commerce globally we think bitcoin is a vector for that >> you run a bitcoin hedge fund. would call yourself a marketmaker, and you've been running this for five years, which is an eternity in bitcoin terms. and you have had pretty good returns. i just wonder what are the risks here the returns in a ray almost swae to be too good to be true. >> we were trying to create something low-risk, conventional by attracting institutional money into the ecosystem in the low-risk way so this fund is something which is adding liquidity, through exchanges around the world exchanges we have selected after 12 amongst of due diligence making sure they have the right way. we are quoting half a billion dollars of bitcoin or digital currency every month we became, i think, the biggest

with bitcoin, you can do that. this is a fundamentally disruptive technology that allows you to track everything so this is -- you know, to break it down to the real simple level, you know, what is bitcoin, it's a software that removes the middleman from financial services that's all bitcoin is. >> which banks don't like. >> i can understand why jamie dimon doesn't like it. >> i think there's another thing, it's pretty fascinating moment that that all happened in a couple of hours. mr. diamond has to defend his franchise. he's probably speaking not out of tune, this is what he thinks is consistent for his business but when you look at where chamath, i think chamath probably he good chance of dominating for the next 20 years. >> jamie rolled out a quorum replicating what etherium does his point is regulating it is crucial. bitcoin rallies when japan eases regulations and tightens when chap goes against them that's what will dictate bitcoin price in the short term. >>> cnbc broke the news that nordstrom would ke ielt

tonight on fast, infamous short seller andrew left said something on "fast money" last night that sent bitcoin traders sinking ford is soaring again today, but the chart master sees something that could send the stock spinning out of control. and later, alibaba has nearly doubled in 2017. if you missed the run, we've got a way to buy it for less than five bucks we start off with the fast and furious. despite harvey, tensions escalating with north korea. nasdaq having its best week f the year and closing at fresh record high. check out the familiar names hitting new highs. all a part of what we're calling the all time high club apple, mcdonald's, paypal, unit ued health care, even royal kai b rib yan. which stocks do you keep buying and which do you start fading at these levels >> that's a cast of the names i don't mention, but the ones that stick out to me, royal caribbean has been a monster you had an interview with pl feign b about two years ago. it was a $60 stock stock has doubled. goldman sachs just took it from neutral to overweight. they'll upgrade it again, i think. i also think unh is

it is a tuesday, everyone —— bitcoin ta kes a is a tuesday, everyone —— bitcoin takes a tumble. glad you could join us takes a tumble. glad you could join us for this edition of asia business report. i'm rico hizon. we start off with united nations, and the security council is considering tough new sanctions against north korea, as a way to isolate the regime which continues to test nuclear weapons. this comes hours after president trump tweeted the us may stop trading with any country doing business with north korea. that includes india, russia, pakistan and especially china. let's ta ke pakistan and especially china. let's take a look at the trade between these two economic him it. the us and china, it is worth around 650 billion us dollars, and that 80% of north korea's exports are to china, but will they be enough to stop pyongyang from further missile launchers? well, ispoke pyongyang from further missile launchers? well, i spoke earlier to oui’ launchers? well, i spoke earlier to our asian business adviser. north korea is an ultranationalist, xenophobic regime which cann

without a hitch not so much with gold of course there was a transaction in bitcoin via satellite you can't transmit gold into outer space but you can transmit between and you argue you can take it into the afterlife it's just a big coin can be taken into the afterlife that's a lot of people from the future are now arriving in the present like elon musk is able to pay for his ferry into the present using bitcoin he doesn't talk about it much because he's already considered to be quite a strange man but you know that's the truth i mean we didn't give away that we are also from the future because i accidently said we were in this block stream is doing the satellite they ran satellites space i soon when i heard about this they were going to send satellites into space using space x. or something because the cost of sending a satellite into space i was cheap getting cheaper and cheaper thanks to mosque and others but in fact no and jeff garza tried this once already with his satellite bitcoin mining project but that would again use actual side life but the block stream i believe is renting

jamie diamond said that bitcoin was a fraud that people are wasting their time with he also argued that there will never be a currency that gets around government control period so in your opinion having served as a financial regulator for years will lawmakers and regulators allow these digital currencies to be used or will they be shut down. well it really depends upon what happens they will be regulated for sure i mean one hundred percent they're going to be regulators regulators aren't going away they're not taking a hiatus the question is can the bitcoin enthusiastic come up with some sort of structure themselves which i've been arguing for all these years perhaps and working in tandem naish in tandem with groups like the international organization of securities commissions i osco come up with some principled protocols or on the trading side with the world federation of exchanges coming up with some basic rules of the road that can provide some consumer protections but if they don't do that if the bitcoin enthuses don't get together with those sorts of folks and come up with these b

yeah actions taken by china however are an even bigger blow to bitcoin after bitcoin backed i.p.o.'s were banned it is now virtually impossible to trade the currency in its biggest market. to new zealand now where a broken fuel pipeline is becoming a political problem it supplies the country's biggest city auckland with which is paralyzed without the pipeline the government did nothing when warned about the threat to its energy security five years ago too bad an election is now just around the corner. the fear of empty petrol stations is increasing ten stations in new zealand's largest city no longer have any super gasoline it's just days before the election and the government is trying everything to minimise the damage tanker trucks are being filled to the brim with fuel and sent to auckland. where making sure the tankers can go out turn probably an extra fifteen percent on white what they can now we've taken a lot of these ideas from under stream of states that anything you need. and we will do our best to supply the airport remains affected by the shortage over forty internationa

>> in the case of bitcoin, yes. because the thing, is, matt, for an investment trader to make money, you need to be able to take both sides of the trade, the short as well as long. the problem with bitcoin is it s very difficult to go choice. you can spread the accounts and they are allowing trading on bitcoin. the problem is the cost of that trading is high when you look at it on an annual basis. there is no easy way to short bitcoin or any other crypto currency at the moment. when we see liquid futures and options that allow you to go short, then we'll see where bitcoin ends up. anna: that is interesting. we showed the chart which is the bitcoin.y of jamie dimon said the chinese have thrown them out. this is all in connection with chinese regulatory changes. does its very existence live and die from being under the radar? >> i think that is absolutely right. when you think about who might possibly use bitcoin for anything other than speculation, it cops down to usual things. people use it in the same way people be

the value of the bitcoin crypto—currency has slumped for a second day — by almost 8 per cent. it's now down to around $3,500 from a high ofjust below $5000 earlier this month. the latestjolt to confidence has come from china — where a bitcoin exchange btc china has said it will stop trading — without giving a reason why. ricoh highs on is following this. what can you tell us? it is really hurting sentiment. bitcoin is plunged from a high of $5,000. it would stop handling trades by the end of the month. there has been the —— beena end of the month. there has been the —— been a steady flow of media reports saying that china plans to shut down bitcoin soon. initial corn offerings are used as a way for future will —— virtual currency start—ups to raise money. china has boomed as a cryptocurrency trading venue boomed as a cryptocurrency trading venuein boomed as a cryptocurrency trading venue in its domestic exchanges have previously allowed users to conduct trades for free, attracting investors and speculators. regulators have now cracked down on the industry ami

kim jong-un's regime appears to up obtain bitcoin. areregime hackers increasing their attacks on cripko currency exchanges in korea, and also collected ransom. >>> america's second major hurricane in 15 days has storm,d to a tropical but irma is still threatening torrential rains in atlanta. surge warning has been lifted in south florida, but the region dodged a cannon. some 7 million homes and businesses remain without power, and schools, services, transport links are still disrupted. will sell about $12 billion of shares on the country's biggest public this century as the government continues its the postalon of services giant, priced as soon as september 25th, almost two as japan post was listed with its banking and insurance units. 731 million shares will be sold in japan and 183 million internationally. >>> global news 24 hours a day, powered more than 2700 analysts fromd more than 120 countries. i'm paul allen. this is bloomberg. >> paul, thank you so much for that. how the asian markets are shaping up. from wall street overnigh

we support the bitcoin cash and legacy but i am a bigger fan of bitcoin cash. it has been around a month than a week. the legacy version has nine years worth of infrastructure built up this is the biggest crypto coin and that is a pretty darn amazing start. first leg of the that. is there another split looming? >> there's going to be another split but from my point of view that gives me more coins that i can sell for the bitcoin cash version. it has limited supply but you can move it asked her and cheaper than any of the other ones in the world. i am a fan of bitcoin cash. >> why does china crackdown on the mining, what lasting efficacy will that have? >> not much at all. more mining will taken places outside of china. if china said ok we will not mine gold anymore in china may be the gold price will go up but people will mine gold in other parts of the world. headed to as record? way back up. >> i have been in bitcoin for seven years. i remember when it coin would go from two dollars to $10 and three dollars in the course of a couple of hours. the percentage s

is that a weakness for bitcoin or a strength for bitcoin? of course, all of the most successful own governments in the world have central banks controlling their currencies. guy: it is a strength and a weakness. everything has an upside and downside. the anonymity is something the regulators are very concerned about. we are seeing all the exchanges doing what you might call proper know your customer and anti-money laundering procedures. there is a number of controls in place now. you cannot run an exchange today without having his controls in place. , michael,t you think it is an important aspect of this currency that you actually have some freedom from governments? you don't have always big brother knowing your every financial move? i mean, isn't that the key benefit of bitcoin? michael: there is some attention to that for many people. i would say most people, most members of the public, do not generally worry too much about that. about it idealistically in a libertarian point of view. people on the street don't seem concerned about governm

ofie dimon takes a bite out bitcoin. why jpmorgan's ceo said he would fire any trader betting on the cryptocurrency. this is bloomberg. ♪ matt: welcome back to "bloomberg markets: european open." we are looking at jean-claude juncker, president of the commission, delivering his state of the european union address right now. the europeans do it in the morning. the americans do it at night. some of the headlines coming across our very interesting. younger saying the euro area has to have a european monetary fund . also that the euro area must get a minister of economy and finance. this is something that actually have become less and less controversial over the past few weeks and months. the minister of finance position is not the same as having shared bt, and he has not voiced any support for that in this speech that far. if you take a look at live here, you can go ahead and follow his speech. just type in live on your bloomberg. you can type tv . there is a number of ways to get to it. live is one of

well i mean it's hard to say i mean we've seen you know just bitcoin in the last you know a few few days and even the last twenty four hours i mean it started at about five thousand dollars the beginning of this this month one bitcoin but even yesterday you know i think it went from like thirty five hundred down to three thousand went up to somebody i think propped it up which as a regulator when i was back at my old agency i would have been calling the enforcement people on this it went from three thousand to thirty eight hundred and i think that was somebody trying to prop it up in light of the news about china bianca so that stuff shouldn't happen i mean that's a rock n roll roller coaster that i wouldn't want to be on and as you reported it was down to about thirty five hundred so there is there is i think some sort of bubble but we'll get through it digital currencies are going to exist they just need to be configured a little bit differently ok part shelton former u.s. trading commissioner thanks so much for your time today thanks. well puerto rico is burdened with more than one hu

era equivalente a un centavo, ahora 10,000 bitcoins son 5 millones de dÓlares. periodista: sin embargo, la moneda genera controversia. & Éste sistema no cuenta con el respaldo de una entidad gubernamental, por lo que excluye a sus usuarios de tener que pagar tarifas reguladas por el paÍs, pero tampoco tiene las protecciones que ofrecen los bancos. el sistema utiliza una red con el fin de proteger los envÍos de dinero. inversionistas dicen creer que el bitcoin disfrutarÁ de más Éxito en el futuro. >> a medida esto se da a conocer, veremos un crecimiento sustantivo de la industria de la tecnologÍa. periodista: hasta ahora el crecimiento de botco ha sido influenciado por sus usuarios en japÓn. pero esto podrÍa cambiar si aumentan de popularidad en otros paÍses. ilia: asÍ concluye esta ediciÓn de "noticias univisón 65". regresamos a las 11, no puede seguir en las redes sociales, facebook, twitter y univision65.com. ♪ marÍa elena:y estos son los titulares. la florida en letargo peraza de los estragos que dejÓ el huracÁn irma. los callos y la ciudad

the stuff that keeps me up at night, you know, a total ban of bitcoin the fact that bitcoin is resilient to that, to me, is very positive for it as an asset. >> brian, you say that it's, you know, by far the largest source of volume is now japan is that not just kind of the shadow, though, of what's happening in china, basically people trying to move capital out of there >> you know, it's hard to tell to get the exact numbers what is coming from china, that's exactly what china is trying to prevent. i will say in japan, most of the major banks and a lot of the japanese individuals are trading bitcoin. i mean, you know, the japanese individuals are very big spot foreign currency traders so they're used to this type of thing and there's a lot of demand for it. to separate out to china, i'm sure some people that are finding a channel to japan, but i would say it's probably less than 10% of the volume >> so if they're going to do this, is it possible as more of a signpost than anything else? i mean, it is interesting, brian, that bitcoin is not for fazed by this. if china does it, do other c

bitcoin down at 23% after jamie dimon, said he thought bitcoin could be a bit of a bubble. if we hopped into the bloomberg and look at the technicals of bitcoin, we could see more of a decline. over the last year, up nearly 500%. the 60 day moving average, the , it few times that happened has dropped to the 100 day moving average. it could be a drop of 40% from the top. this is bearish action for bitcoin. abigail doolittle, thank you. president donald trump had dinner with the house and senate minority leaders at the white house last night, as we know. today, he tells the press he sees a dreamer deal happening within the next six months. the president also discussed the future for the u.s.-mexico border wall. president trump: very importantly, what we want -- we have to have a wall. if the wall is going to be constructed, when we need the funds at a little bit later date -- we will be determining how much we need -- we will not be doing anything. vonnie: president trump is setting out to look at hurricane relief efforts in florida. let's bring in kevin cirilli from capitol

trend bitcoin makes banks essentially price gouging into media aires and socially unacceptable leeches obsolete bankers rightfully fear for their jobs as big coin replaces them so just today jamie diamond bragged about the value of block chain says they have digital dollars but it's ok to have digital dollars backed by nothing and printed on the thing but you can't have big coin it doesn't make any sense what do you think scares people more the fact that there is such erratic behavior in the price of big coin that it's in secure or that you can actually pull it out and touch it. i think what scares the most right now of governments clamping down on it and that's the message you're getting out more and more jamie diamond just came out and said that again today i think that's their biggest fear other people that you know don't go into big going to go into a harder commodity like gold or silver but again you go back to the millennial generation everything is cashless in their world so it cashless coin is is of a lot of value to them because again what you have a guy like jamie diamond say

mack, he's investing in bitcoin and bitcoin technologies we've seen a very rough ride for bitcoin particularly in the past five days with china making icos or initial coin offerings illegal and shutting down domestic bitcoin exchanges that regulatory aspect, that's still to be worked out and can really provide hiccups in terms of the trade here. >> clearly in terms of the price, it will create hiccups without question in terms of the technology and underlying belief that that's where we're headed as society for these decentralized crypto currencies, in my opinion, i think brian kelly -- that's here to stay. >> you choose b.k. or jamie dimon. >> every single day of the week. >> all right by the way, stay with cnbc coming up on "the closing bell" we have jp morgan president and ceo jamie dimo live from new york city, 3:00 p.m. eastern time he'll be asked about bitcoin and , nyth ticops. you won't want to miss it. >>> meantime, our final thoughts of the day, check please, is next >>> what's the secret to turning a no into a yes? do you know how to network like a champ? what's a good way to have f

i want to pull up a chart which shows you bitcoin compared to traditional safe havens like , bitcoin inyen purple has become this safe haven of choice, which i don't really get because if you are trying to keep your money safe, we should be putting it under a mattress and not into another riskier asset. i don't get this. haidi: i know. if you look at the chart that compares the bitcoin bubble against other bubbles in the past 20 years, it goes straight up. nothing compares to what we have seen. it is interesting. there is increasingly more people saying keep your money in cash and put it under the mattress. someone said he is holding 30% in cash at the moment. betty: that is right. make that work for you. make cash work for you. hobson has some investments. about 7% of the money in her portfolio in cash. this is the time for those willing to take the risk to take the opportunity in these markets. it depends on how much risk you are willing to take in these times. haidi: absolutely. now more than ever, active investment has a crucial role to play. taking a look at how we will set up f