Investment/Trends

Nasdaq plans bitcoin futures contract in 2018, joining CME and CBOE

"Nasdaq Inc plans to launch a futures contract based on bitcoin in 2018, making it the third exchange operator to plan U.S. derivatives contracts linked to the digital currency, a source with knowledge of the matter said on Wednesday. CME Group, the world’s largest derivatives exchange, and CBOE Holdings, have both said they plan to launch futures products based on bitcoin this year, pending regulatory approval, helping fuel the crypto-currency’s rally. While Nasdaq does not have a hard date set for its product, the transatlantic exchange operator has offered an exchange-traded note based on bitcoin on its Stockholm exchange since 2015."

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Enter the ‘petro’: Venezuela to launch oil-backed cryptocurrency

"'Venezuela will create a cryptocurrency,' backed by oil, gas, gold and diamond reserves, Maduro said in his regular Sunday televised broadcast, a five-hour showcase of Christmas songs and dancing. Ironically, Venezuela’s currency controls in recent years have spurred a bitcoin fad among tech-savvy Venezuelans looking to bypass controls to obtain dollars or make internet purchases. Maduro’s government has a poor track record in monetary policy. Currency controls and excessive money printing have led to a 57 percent depreciation of the bolivar against the dollar in the last month alone on the widely used black market."

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NYC not liable for processing fake deed allowing theft of woman’s home

"Merin, 74, had sued the city for not catching the forgery when the paperwork was first filed, but lost on appeal when the court backed a judge who said she couldn’t prove the city was negligent. The feisty homeowner is fuming and has vowed to fight the decision."

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Cash House Sales Rising in U.S. Despite Stable Mortgage Market

"Home buyers are facing a new challenge in finding mid-priced houses to purchase: Cash buyers who swoop in and snatch up all the properties. According to a report in The Wall Street Journal, while mortgage lending is finally rebounding after the housing crash of a few years ago, cash deals are still at higher than normal levels – even with the prices of homes heading into record territory."

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Welsh city refuses man’s £7.4 million offer to dig for lost Bitcoin

"Welsh IT worker James Howells says he accidentally threw away a hard drive full of Bitcoin which he believes is now worth more than $100 million (around £74 million). He’s been fighting Newport city council ever since for a permit to look for the computer, which contains over 7,500 units of the cryptocurrency and is buried below thousands of tonnes of rubbish on a landfill site. A spokesperson for the council said James has been told 'on several occasions' he will not be given a permit despite his offer of a 10% cut."

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Here’s What the World’s Central Banks Really Think About Bitcoin

"The guardians of the global economy have two sets of issues to address. First is what to do, if anything, about the emergence and growth of the private cryptocurrencies that are grabbing more and more attention -- with bitcoin climbing above $10,000. The second question is whether to issue official versions."

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Fed Official Decries Bitcoin as “Not Backed”

"With one unit of Bitcoin now worth 10,000 times the US dollar, it makes sense that the Fed would begin to feel a bit defensive. Indeed, the speech comes to the defense of the central bank, the existing money, and payment system networks, and calls for the pace of innovation to be controlled by regulators in the interest of 'prudence.'"

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