The CENTER of ATTENTION was the news :
Huobi and OKCoin will stop trading a pair of "yuan-bitcoin" to the end of October
Chinese bitcoin exchanges OKCoin and Huobi — two of the "big three" — announced that by the end of October they will stop the trade denominated in yuan. Statements similar in content, indicate that while the exchange will stop trading of cryptocurrencies..Former SEC Chairman Arthur Levitt about the cryptocurrency that ‘long haul’
On Thursday, the former Chairman of the SEC, which is the longest held this position, has expressed its belief in the viability and sustainability of cryptocurrencies. Arthur Levitt, who served during the administrations of bill Clinton and George W. Bush, pointed to global economic imbalances as the cause of the resistance of alternative currencies.
14 September 2017, the Washington Post published some thoughts about cryptocurrency from Arthur Levitt. In contrast to the General Director of JPMorgan Jamie diamond, Levitt believes that cryptocurrency "here to stay".
"They are quite speculative," said Levitt, being unsure of that will invest in bitcoin. The former President was known for having focused on the protection of investors. "Cryptocurrencies fluctuate for reasons that are difficult to understand." However, he said, "I would have considered the possibility of investing in companies that use bitcoin".
Investing in institutional infrastructure certainly seems a wise strategy. Instead of having to worry about the daily whims of course, it would be possible to bet on the long-term success of digital currencies. Though currently the Chinese exchanges are under fire, there are many countries where thriving cryptocurrency legitimate companies (e.g., United States, Philippines, South Korea).
Looking to the future, Levitt said
"I don't know whether it's bitcoin or Ethereum, but at least one of them should stay for the long haul — because of the inconsistency between countries in which either a reliable currency system, or, in General no monetary system. It would have looked as an alternative currency."
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Over the past decade, millions of people around the world seem to have lost faith in their governments. Thus, in light of geopolitical and economic shifts, it is not surprising that private digital currencies that operate without state control, emerged as an alternative. The possibility of using the potential of cryptocurrency in such cases, it is obvious, especially when unstable economic and political situations.
When citizens lose faith in the justice system, their vigilance may be exacerbated. In a sense, "not Fiat" cryptocurrencies help to maintain that vigilance. Statement Levitt, of course, are consistent with this view, which also emphasizes individual economic opportunities for people.
In the previous interview Post Levitt said about his work in the SEC:
"I have focused on the importance of the individual investor before corporations, market structure and above all else".
Private digital currency is clearly strengthen the power of the people, not governments. Only time will show whether this economic experiment sustainable in the long term.
Well, one voice expert in support of the cryptocurrency.
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