Bitcoin Rebounds 30% Despite Fears of Gov’t Regulation Lingering

FILE – In this Dec. 21, 2017 file photo, a woman walks past the Bitcoin ATM in Hong Kong. The growth of bitcoin is fueling speculation about the environmental impact of the energy needed to power the cryptocurrency, stemming from the process of “mining,” which is central to its existence. (AP Photo/Kin Cheung, File)

OAN Newsroom
UPDATE 10:40 AM PT — Fri. January 19, 2018

Digital currency — bitcoin — recovered from its recent plunge, easing concerns over new regulations.

Bitcoin surged by roughly 30-percent Thursday to over $12,000 per coin, rebounding from a low of about $9,000 the previous day.

These numbers are based on the CoinDesk Price Index, which traces cryptocurrency value on platforms including Bitstamp and Coinbase.

Experts say wild swings exceeding 25-percent reflect a global, liquid, and dynamic trading environment.

However, several governments are still seeking ways to prevent bitcoin market volatility.

Despite the rebound, bitcoin is still 15-percent lower for the year and over 40-percent below its December high of $20,000.

The U.S. Securities Commission says questions need to be answered about cryptocurrency investments.

In a letter to investment groups on Thursday, the commission discussed 30 questions related to digital money.

The questions are meant to clarify how bitcoin is valued and stored, and to address concerns on how the digital currency can be manipulated.

The letter also expressed concerns about investor protection.

This comes as an increasing number of firms are looking to offer investments based on cryptocurrency.

53 Comments on "Bitcoin Rebounds 30% Despite Fears of Gov’t Regulation Lingering"

  1. Tango Uniform | January 21, 2018 at 2:43 pm |

    Just heard Monopoly money is up this week, too.

  2. If they only were as equally concerned about the fraud in annuities that are sold daily.

  3. Well, a dead cat on a Tether bounce.

    For those of you who do not know, “Tether” is a coin issued by the Bitfinex exchange, to replace the Bitcoin they steal from gullible “investors” who continue to deal with them. Basically an IOU. They are theoretically worth $1, and yesterday alone Bitfinex printed 200 MILLION (seriously) of them to prop up the Bitcoin market. They have created out of thin air over $500 Million “worth” of Tether in the last year, since they invented this scam after they stole from their depositors what was at the time $80 Million in Bitcoin.

  4. JUST CURIOUS – WHAT the “F” has the Gov got to do with REGULATING………..it”s like BARTERING 100 years ago……the GOV has no business telling people how to “negotiate”…..which is what it is.

    • Thank you. Agree. They have laws on the books already for fraud, pyramid schemes, RICO money laundering…etc. What more do they need? Apply those where needed.
      All those laws didn’t stop the UBS/Lehman Bros. fraud on investors or the Enron fraud against their stockholders. Or the Obama fraud against the US treasury when he secretly gave $33 billion to Iran. Printed more money to do it, and so reduced the $ value.
      Bartering is legal.

  5. Christine Kudrys-Caliendo | January 20, 2018 at 7:23 am |

    Suddenly all the environmental worries are gone. Amazing

  6. Usual ignorant negative posters. Governments are dealing with it including the fact IRS is already involved with appropriate reporting rules and forms. Can’t put the genie back in the bottle. Blockchain is here to stay. People want it, they will get it. Same oafs criticizing will go to Vegas and throw away at the tables but won’t intelligently respond to crypto currency. Laughable.

    • So what happens when someone decides to embed something illegal on the public blockchain of a coin? Do you think the Eu and Israel will let people post Holocaust Denial” on there, and let nodes possess and distribute it? They lock up a lot of people for posting HD on the internet, do you think they will let that slide? I don’t think they would. How about CP? They would let THAT slide too? NO, otherwise there would already be a CP coin that is a repository of their filth.

      • Anti Semite circle of insanity. Go initiate your HD crypto….seems to be your niche.

        • No Answer then? Typical Bitcoiner. There is a deep seated delusion in the Bitcoinosphere that leads starry eyed types to think that just saying “blockchain” suddenly renders all laws and governments helpless, and it simply isn’t the case.

          Oh, by the way, I am not an anti-semite, I was simply using that as an example. If you want to see a bunch of those go over to r/bitcoin or MMs circlejerk site and it will be chock full of people going on and on about Jew bankers.

          • Not to worry….some of us will stick to entering something profound like “all lives matter” so that the slogan police will go bonkers debating how diabolical it is. If your point is that governments monitor everything, we already know that. And yes the truly ignorant governments will try to destroy crypto currency. The manipulators such as Soros and Buffet will be trying something. Bezos will probably accept it. Zuckerberg will simply continue with his social engineering of what we should say do or read.

  7. The City of Virginia Beach VA. Development Authority is awarding a $500,000 expansion grant to a local business, BCause LLC, to expand it’s bitcoin mining facility operations. BCause LLC has been in operation for five years and will invest $65 million in it’s bitcoin operation, adding 100 full-time employees at an average salary of $60K. The plan is for the facility to become the East Coast’s largest commercial bitcoin data center for customers who want to participate in bitcoin transactions (The Virginian Pilot 1-18-18). I wonder how this enterprise will turn out.

    • I will take a “wild guess” and posit that it will turn out badly. Bitcoin is touted as “The Currency of the Internet”, yet it isn’t even troll proof. Anybody can wreck Bitcoin by simply embedding something illegal on the blockchain. Example: If someone were to embed the view that the official legally required to accept version of the Holocaust is wrong, every Node operating where that is illegal would be possessing and distributing illegal material everywhere that is illegal. The Eu locks up lots of people for possessing and distributing “Holocaust Denial”, and they would not let that slide. In such a case, the network would continue to run on Nodes not in their jurisdiction, but the realization that their precious Internet Crime Cabbage CAN be shut down by governments would sink in and all the money propping up this scheme would vanish overnight. If you doubt that would happen, just ask yourself what would happen if someone posts Child Porn pics on there. Game OVER.

  8. What backs bitcoin… can I wipe with it, or buy a Mercedes???

    • My Sharoner | January 19, 2018 at 5:34 pm |

      How could something you can’t grasp with any of your five senses be worth that much? This I think s going to put the hurt on people.

      • You mean like the tech stocks of the 2000 era? all cyber paper, no hard assets. Yet, Ebay, Amazon, Priceline, for example, are still here.

        • Incorrect. Ebay, Amazon, and Priceline are all corporations with hard assets.

          • CD Ard is making an astute point. The internet boom produced a lot of companies that are no longer around, and a few that are now powerhouses. This will work the same way with crypto. There are going to be many coins that don’t make it, and some that will end up being part of our everyday lives. Apu instead of regurgitating nonsense, please go educate yourself. A good place to start is by reading some of the white papers of the top 20 cryptos and allow your mind to digest what this technology is and how it is going to transform our lives in a very good way, albeit with some turbulence along the way. Our current system is dying, and unless we transition the only other option is to repeat history when a currency collapses and that is to go to war, or worse. And by the way, Amazon is government subsidized with every order placed. So don’t talk to me about hard assets. Bezos, Zuckerbeg, and the clowns at Twitter are all liberal lap dogs, bought and paid for by our deep state government. Hard assets my foot. More like hard tax dollars that the average Joe pays to be used against him.

          • Incorrect. Ebay, Amazon, and Priceline are all corporations with hard assets.

            Bitcoin is a psuedo-decentralized database ledger, and nothing more.

          • My Sharoner | January 20, 2018 at 3:50 pm |

            Thank you for clarifying!

          • You are quite welcome.

            As an aside, whenever I think about My Sharona (er in your case) I remember a parody being played on a local station while that song was around called “Aya-tolla” Been about 40 years since I heard that one, but from what I can recall, the lyrics would be sure to trigger any lefty PC islam apologist these days.

          • Are you stupid enough to believe he clarified anything? Anti Semite messages from Neptune?

          • My Sharoner | January 21, 2018 at 8:00 am |

            Not stupid just simple. The explanation was short and to the point rather than a long complex blabbering explanation. Your story has become tiresome. Blocked!!

          • The IT .coms are not “hard assets” such as a commodity(gold, silver, wheat….)
            The assets of those you list are merely their accounts receivable vs their accounts payable. Net, of that difference is their current value reflected on a database ledger. They have some office spaces, but that hardly qualifies them as a hard asset entity. When they crashed in 2000 it was due to the fact no hard assets existed to back the values of the stock. Yet, many .coms survived due to the demand of the services they provide. Crypto currency is a barter service. BTW all businesses are a database ledger.

      • The USD is worth somewhere between 2-3 cents from its value in 1913. Grasp that?

        • I know and inflation is up 41 percent since 1999. Better hold onto your wallet. Anything for the super wealthy to get our money. Gold and silver are one thing that is real.

          • Agreed My Sharoner! it’s pretty hard to argue with 6000 years of gold and silver. If you are sitting on both you will be pleased with what 2018 brings. I doubt the full manipulation will be removed but I do think that both, perhaps even more for silver due to it’s use in electronics, will do well in 2018. Inflation of the dollar is evidenced with the flood of capital that has gone into cryptos and resulting prices going up as we creep closer and closer to the edge. What so many people don’t understand about crypto is that they are a way, really the only way as things stand now, out of this dying system, without a bunch of people having to die as well. Our good freind Apu here sounds like a history buff so I am sure he would thus concur that every empire sees its end of days, and a rotten economy and devalued currency are always in place when they do. That inevitably has led to war, social disorder and chaos, or both in some cases. The banksters and TPTB have already given cryptos the ‘nod’ otherwise the whole things would have been squashed by now. But holding on to gold and silver, in your physical possession, is a very sound idea. I dumped all of mine to get into crypto and will be buying back in within the next month with the profits I will scrape off. Buckle up, 2018 is going to be a wild ride.

          • Yes, and currency is what you use to purchase with.

    • Yes, you can buy the Mercedes, butt you have to use your worthless paper $ currency to wipe with.

      • If I write “The Holocaust is a lie, Hitler did nothing wrong” on a dollar bill, will dollars be deemed illegal? No? How about If some joker starts putting things like that on the Bitcoin Blockchain with every transaction they do? Do you think the EU and Israel will just sit back and let all of the nodes operating in their jurisdiction to keep acting as servers for illegal material?

        • Weird Science | January 19, 2018 at 8:48 pm |

          If bitcoin had been around during that time, would have helped many jews get their money to loved ones outside Germany before it was confiscated by the nazis.

          • Incorrect. If Bitcoin were around back then, the Nazis would have used it to locate more Jews and other “undesirables” to be sent to concentration camps. The idea that a currency which keeps a detailed permanent public record of every transaction somehow makes you anonymous is simply delusional.

          • Incorrect Apu. You do not understand what cryptography blended with a distributed ledger is (Blockchain). Nazi Germany would have had no way (same as today) to scour through the chain simply because of the amount of manpower it would have taken. Weird Science is correct as it would have helped many escape with their wealth and not lose their lives doing it. But this is besides the point and you are only distracting people with your lack of understanding, both on Blockchain and history it seems. The SS did not need any additional help from technology to round up the undesirables. That was done much more simply, partly with neighbor turning in neighbor until there was no one left to stand up, and mostly through obvious uses of profiling.

          • Incorrect. I understand the underlying principles and technology involved in Bitcoin quite well, and your assumptions about the ability to trace transactions is completely false. If someone is really good at hiding themselves on the Internet, they can make it difficult to be found, not impossible. These people are rare birds, most people are easy to trace, even for someone with average pooter skillz such as myself. The reality is that transactions can be traced and there is case after case of arrests and prosecutions proving it. That is not even getting into the Zero Day backdoors built into every device ever made. I can assure you with 100% certainty that even someone like myself can in fact do a decent job of tracking transactions and connecting them to a real person, ask Josh Garza.

            Also, the SS did in fact need and GET help in rounding up Jews and others. They had the help of IBM, you might want to brush up on your history before you go around lecturing, my good chap.

          • Apu, are you a cop, or an investigator, or do you just have a desire to police the world? Unless you are one of the two former, I assure you there are plenty of Blue Team out there ready to pounce on some one that doesn’t agree with you. Never mind all the other issues are society is dealing with, let’s ignore that and worry about what people think about the jews and WWII and Hitler. yeah… and it all ties exactly to block chain and BTC…yeah… Apu, the human race has bad people in it. Depending on what FBI statistics or other crime data you want to throw out there the bottom line is the vast majority of people are not breaking the law now, and will not do so when using their cell phone any more than when using Litecoin to buy a book on Amazon. The other fact is that the small percentage of scumbags wiill be scumbags regardless of what you place in front of them. Ok so now that we are back to a little sense of reality..
            Bitcoin is not anonymous, nor was it designed to be. Block chain and its use will inherently cut out a lot of middle men, but TPTB can devote the resources if they want to tracking down individuals that are using Bitcoin. Monero and Cloak on the other hand are in fact designed for an extra layer/s of ‘privacy’ if you will. So pick one of those if being tracked down is your heartburn about block chain. Or better yet, stand aside while the train roars past you with early adoption happening right now as we banter. At the end of the day, you still have your lame Nazi/Jew bit hanging out with nowhere to land as it makes no point. And I am familiar with IBM, Chap, but I guess because I did not mention that tidbit, one among hundreds about the subject, that you are in some way in charge of the truth here or resident historian. Cheers.

          • I am simply a common sense realist who refuses to accept false assumptions based on lies from obvious and proven scam artists in the BItcoinosphere, and frantic, emotional, hand waving by those being conned by them as fact.

          • Well I appreciate that platitude regarding your opinion of yourself Apu.

            Blockchain is not a lie poor fellow. You seem to have an issue separating humanity from individual technologies and how the two interact. I have yet to see frantic emotional hand waving by anyone but the doubters, bankster ILK like Jami Dimon, and those that in power who stand to lose control of their boot on our collective necks.

            And then we have you Apu. Trolling away, spreading FUD about something you claim to understand but spend zero time explaining to people. Instead you pretend that everyone involved in crytpo is victim of a con or out to commit a crime. The real con my deal friend is the current system and the pain and suffering it has caused people around the world for over 100 years. Do you dare come back and tell everyone that I am wrong and that our current system is awesome and lovely? No of course you won’t. Do you dare come back and tell everyone that I’m right and that you have a better solution for our crumbling society? Solutions Apu, that is what people want. Not naysayers. I admit that crypto, like almost everything, has it’s flaws. Nothing is perfect. But the current status quo is a joke and the only reason it’s been perpetrated on the good people of this world this long is through the control that twisted minds have had on almost every institution in our society (media, schools, government fed and local, Hollywood, etc.). Again, you are empty of facts and understanding of this subject. Assumign you are a good person and mean well, please go ready some white papers. At least then you can poo-poo crypto with some facts and details.

            This conversation with you might have had some shred of import 3 or 4 years ago, but we are going on year 8 now with nearly a trillion dollar market cap. Sorry dear Apu, crypto is here to stay. The only way to kill it is to kill the internet, and any government that does that instantly commits suicide. So, get on board, get run over, or stand aside and watch the world change for the better very very quickly.

          • I never said that “the blockchain was a lie”. Why do you find it necessary to invent Strawman arguments? You do not need to explain to me the dynamics of the Bitcoinosphere, I have been around it since the early days when it was mostly computer geeks and rational idealists involved. THEN came the scammery, and it has steadily built up into a class 5 ScamNado with every sort of criminal swirling around in it, the likes of which has never been seen heretofore.

            I have spent plenty of time explaining the Bitcoinosphere to folks, and will likely continue to do so. For the most part, there is only the drudgery of dealing with the same old baseless arguments and strawman arguments tossed around by the starry eyed and paid Bitcoin trolls. However, now and then I will get a PM or something from someone who truly appreciates my efforts, and I am content with that.

          • More spewing with no facts, or details. Simply a rant that presumes you to be an intellectual. If you are sooooo smart and have been around soooo long, why don’t you expand or respond to my points. Because you have nothing. Your Jew/Nazi example is still without a landing pad by the way.

          • You are quite free to believe what you want, I am ok with that.

            After the mounds of random non sequitur demands and such I am not sure what you mean about “my Jew/Nazi example”. Are you alluding to how someone would embed something deemed “Hate Speech” on the Bitcoin blockchain? If so, you can include a fair length sentence manually on any transaction which is viewable on any blockchain viewer, and this ability can be used to store any type of data by stringing together consecutive transactions to create a jpeg image or such. This can also be done manually, but there are sites that make it easy to both view and embed all types of data. I have tried to post a link, not realizing that they have a strict no-url rule here, so I will simply say to search for cryptograffiti and take a look. There are others as well. When you go to the main site it will show you the latest messages and pics, scroll down and wait a bit as it accesses back in time on the blockchain.

            In the early days of Bitcoin, the ability to bypass national borders with speech was touted as a major feature, now you get attacked if you even bring it up, as those cashing in know full well it is an Achilles Heel. As an example, the very first bitcoin block included both a lengthy message and a high resolution color pic of a newspaper, and people have been adding pictures and text ever since.

          • Why do you not respond to my pointed questions Apu?
            Were you burned by Bitconnect or USItech?
            Where is your website and guidance for your following Apu?
            Do you think our current system is sufficient and sustainable Apu?

            Apu, you brought up the down right stupid correlation to WWII Jews and Nazi’s. Do you think people are so dumb that they will not read that post and understand what I was referring to on this one?

            Nice try on your attempt to derail people. Something tells me you are not who you say you are.

            What is YOUR solution A-Poo?

          • the ‘my good chap’ comment speaks volumes. Either a Brit, or Brit educated Indian up there in that rarified snobbery stratosphere. We are viewed as mere simpleton Americans, don’t you know. The Apu assumption that investors would avail of crypto currency for the purpose of anonymity then diabolically label a transaction with “Heil Hitler” seems to be his paranoia in play.

          • Then there was AT&T and Arm and Hammer. But so what? You are making assumptions that people expect anonymity with crypto currency. It is obvious that the IRS can request accounts from Coinbase and others for the purpose of tax auditing. As is the case with all gains on sales of assets the law requires those on crypto be reported. If we want to claim our losses they must be reported with transaction data to support the claim for a short, or long term gain. You don’t have any propound insights.

          • Brown shirts. Never a shortage of those anywhere on earth. You are correct that they could have transferred their assets quickly, even though they still had challenges escaping the country. It would have taken the Nazis too long to weed through the exchange data for that to be a realistic deterrent.

          • No one has made a claim of assured anonymity in Blockchain technology. His point is that the technology would have allowed the transfer rather than be subject to local Nazi confiscation.

          • Plenty of people claim assured assured anonymity with blockchain technology, the bitcoin forums are full of this completely untrue claim repeated ad nauseum.

            Your idea that Jews and others targeted by the Nazis would be able to transfer funds rather than have them confiscated is naive and completely misses the point. The purpose of identifying and locating those deemed undesirable was to round them up and KILL them. Stealing any of the assets these victims had was secondary to that. Thanks for pointing out where your priorities are, though.

        • WTF is your point? Who cares if they choose to stop something so anti Semite stupid? Why would anyone stick a stupid message like that on anything? I suppose you think “In God We Trust” on US currency or crypto will be made illegal somewhere because of your bizarre rational. A dog chasing his own tail for validation it is still there, is amusing…..

          • Why would anyone embed something so stupid as anti Semitism on the Bitcoin blockchain? Good question. How about placing some serious short bets on the Bitcoin price and then wreck the price for a pittance and collect mad stacks of cash? 4Channers would do it just for Keks, of course. I bet someone on GAB would know the answer to this perplexing question of why someone would intentionally wreck Bitcoin.

          • Thank You! What the hell does anti”instert any group” message have to do with Crypto? Answer, nothing. Apu is a Social Justice Warrior at best. Apu, buddy,, you are toast here. We are not in the sheeple crowd so move on to another article posted on WSJ or CNN.

      • $50K in crypto January 2016 was worth $1,000,000 before the end of the year if you were invested in Litecoin, No one wants to talk about Litecoin or the other coins that are coming to market.

    • Please No Mas, expound on what backs the USD? And while you are at it go ahead and explain to people the history of currency and the time line for failure. And then while you’re at it go ahead and fill people in on the current purchasing power of our USD compared to days gone by.

      • You didn’t answer the question but I can see that maybe lead is worth more than gold if used properly.

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