Cryptocurrency, Blockchain And Digital Currency: The Impact On The Markets And Governments | CNBC



Bitcoin taking a hit amid of regulatory concerns after a noteworthy rally over the last month the digital currency down about 6% right now for more on the crypto currencies rollercoaster ride and its impact on the markets we're joined by fire app CEO and chief currency stratus Wolfgang Costa Wolfgang good morning to you thanks for joining us but before we get onto your specific views on Bitcoin can you first just differentiate for us the difference between a digital currency and a crypto currency well yes I absolutely can so crypto currencies basically are leveraging cryptology or security in order to frame around blockchain technology and then these blockchain technologies such as Big John Bitcoin actually create their own exchanges digital currencies really are doing the same thing but in my opinion they're going to be issued by the government's and that's where the big difference is the government's will leverage cryptology and they will leverage blockchain technology as well and then the main benefit I guess of both that you argue is is quick and Swift payments and and you don't need to have a cryptocurrency to do that you can have a digital currency that's absolutely correct the benefit of what the bitcoins and the other 130 whatever exchanges have done is they've really taking a time and B cost out of the market there was an inefficiency there you know you transfer money from one bank to another can take you two days now and it's gonna cost you 30 $50 now it's gonna cost cents and it's gonna be immediate and that's what the digital currencies are and that's what the United States government for example will have to do and how far away are we from a central bank major global central bank issuing its own digital currency in your eyes and if and when we reached that point is the writing on the wall for various crypto currencies like Bitcoin absolutely so Putin came out and said actually in January of next year so in a month he's gonna come out with a crypto ruble that's probably the first at least the announcement of that the Chinese are working on it kena's working on it United Kingdom were working on it and the States actually has been working on this since 2013 and they came out with a federal pay per in June of 2016 further working on it I actually expect that the United States the Fed is going to issue with the next 12 to 18 months a cryptocurrency or as I call the digital dollar Wolfgang do you think that these various sort of sanctioned digital currencies are going to take demand away from to the extent that it exists right now for the the popular crypto currencies in other words is it is it just a matter of more supply or the people who are likely to think that bitcoin is going to be a valuable asset just going to be not interested in anything else I mean we're talking about two separate worlds here we are talking about two different roles so what I know is and I talked to a lot of CEOs CFOs and Treasuries of corporations as you know as we help them understand and manage these currencies and what they're saying is corporations and you got to remember that's a five trillion dollar a day market and the corporations are roughly 40% of that market so roughly two trillion dollars and they're saying we can't get involved in Bitcoin but we like the idea of Bitcoin or others we like speedy transactions at a lower cost how do we get involved in this and they're waiting for the government's to issue those digital currencies so they can take advantage of those two things without getting involved in highly volatile and I would say one would have to agree that highly speculative I mean if you're looking for a month going from 9,000 17,000 back to 14,000 today 6 7% losses it's too speculative for corporations which are one of the largest players in the market of currencies because they need to do it it is not out of speculation they need to convert more from one currency to another and that's what they're going to get involved in they're waiting for the digital dollar hey there thanks for checking out CNBC on YouTube be sure to subscribe to stay up-to-date on all of the day's biggest stories you can also click on any of the videos around me to watch the latest from CNBC thanks for watching

24 thoughts on “Cryptocurrency, Blockchain And Digital Currency: The Impact On The Markets And Governments | CNBC”

  1. The us dollar is currently 98% digital so the fed releasing there own crypto is pointless.The reason bitcoin exists and the reason people invest in it is because of its decentralized nature.No government or entity can ever control or silence Bitcoin it’s immutable.

  2. GREAT OPPORTUNITY FOR #DIGITALINDIA & #FINANCIALINCLUSION
    I CHALLENGE TO RETURN MY IIM CERT. IF THERE'S ANY WEAKLINK OR IF IT'S NOT GREAT

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  3. want to retire early? now is the time to invest in bitcoin:
    What most people don't understand is how ridiculously rare A full bitcoins are given that there will only ever be 21 million bitcoins. The earth population is over 7 billion, So for most people it will not be about owning one or more bitcoin, it will be about having bits or Satoshis. There are exactly I00,000,000 million Satoshi units in each Bitcoin. Check out the value of one Satoshi http://www.btcsatoshi.com/ . When bitcoin enter into its third phase, 100,000 Satoshis will support A family for generations, like one million dollars did back in the 19th century. tired of waiting on Coinbase? The cheapest and fastest way to buy $10 to $100,000 of Bitcoin is at https://www.bitquick.co/?a=28048964 get your bitcoin in 6 hr. "BUY & HOLD" you've been WARNED..

  4. Propaganda floods the web. Do a little research on your own before listening to anything. Knowledge is power. Happy Holidays to All!

  5. For the people who still don't understand bitcoin, please do your research. You will never have an opportunity like this ever. Keep accumulating gold, silver and bitcoin and you and your family will be sitting pretty for life. The future economy will be digital and decentralised. Besides financial health, we need to invest also in mental, emotional and spiritual health, but once covered your physical needs, everything else becomes much easier.Get some bitcoin now, it will continue to increase in value for decades to come, since it's limited and ever more useful for more and more applications. Here is a start: "Introduction to Bitcoin" – Andreas Antonopoulos https://www.youtube.com/watch?v=qkxdys-Ek9U
    Andreas own YT channel: https://www.youtube.com/user/aantonop/playlists
    Also, visit https://www.reddit.com/r/Bitcoin/ to learn more and be informed.

  6. Get free from Central Powers control by using decentralized currency. The future economy will be totally digital and decentralized. Bitcoin is a worldwide-distributed decentralized peer-to-peer censorship-resistant trustless and permissionless deflationary system/currency (see Blockchain technology) backed by mathematics, open source code, cryptography and the most powerful and secure decentralized computational network on the planet, orders of magnitude more powerful than google and government combined. There is a limit of 21 million bitcoins (divisible in smaller units). "Backed by Government" money is not backed by anything and is infinitely printed at will by Central Banks. Bitcoin is limited and decentralized.

    Receive and transfer money, from cents (micropayments) to thousands:
    * Cheap regardless of amount $$$ sent (Soon again with Segwit+LN)
    * Borderless (no country can stop it from going in/out or confiscate)
    * Trustless (nobody needs to trust anybody for it to work)
    * Privacy (no need to expose personal information)
    * Securely (encrypted cryptographically)
    * Permissionless (no approval from central powers needed)
    * Almost Instant (from seconds to a few minutes)
    * Open source (auditable by anybody)
    * Worldwide distributed (from anywhere to anywhere on the planet)
    * Censorship resistant (no government can stop its use)
    * Peer-to-peer (no intermediaries with a cut)
    * Portable (easier to carry/move than cash, gold and silver)
    * Public ledger (transparent, seen by everybody)
    * Scalable (each bitcoin is divisible down to 8 decimals)
    * Decentralized (distributed with no single point of failure)
    * Deflationary (its supply goes down with time until reaching 21 million ever)
    * Immutable global registry (can’t be altered/hacked by nobody)
    * No chargebacks-No fraud ('push' vs' 'pull' transactions).

    And that’s just as currency, Bitcoin has many more uses and applications.

    For more info go to r/bitcoin on Reddit.

    Buy some Bitcoin now if you haven't yet.

  7. If any Canadians are wondering what domestic exchange to use to buy Bitcoin, Ethereum & Litecoin, try this: https://www.quadrigacx.com/?ref=0908rz10800xd4tr2jd330le

    QuadrigaCX is Canada's longest running cryptocurrency exchange and since it's inception, has never been hacked or compromised. They also have an active pressence on the subreddit /bitcoinCA should you need to get in contact with them.

    If you're looking for a slightly easier and cheaper way to buy Bitcoin, you can also try nTrust https://www.ntrust.com/bitcoin/ , they just recently came onto the market and so far they've been way better than most other Canadian exchanges in my opinion, both in terms of overall price and fees, plus they have great customer service that got back to me within 24 hours of e-mailing them a question. They have a variety of funding options, including being listed as a "Payee" if you're with a Credit Union.

    You can use my ref code where you and I both get $2 for signing up, so it's a win-win.
    My ref code is: ale532

    If you decide to use my referral code and/or address, I'd like to thank you for taking the time to do so!

  8. The purpose of the Cryptos is decentralization!!! Hence no Central Authority controlling your wealth. These guys must enjoy being slaves!!

  9. what is not speculative is holding fiat currency. due to inflation its purchasing power can only move down

  10. we need Government Digital Currencies so that we can printing 2 Trillion of these each year to make it stabilize price instead of a limited Bitcoin supply that is so volatile . Good work CNBC

  11. This is a pretty dumb clip, the speaker has no idea what he's talking about. We're already using digital dollars, it's called Visa/Master. Cryptocurrency is meant to be uncorrelated to a government's quantitive easing aka printing money BS, like alternative gold. Go read some books.

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