Integrated Ventures Inc (INTV)

[KULiquidGold]

CNBC - CFTC Chairman Bullish on Bitcoin and Blockchain. Appeared on CNBC’s “The Exchange” yesterday.

A few notes;

The Commodity Futures Trading Commission (CFTC) is one federal agency that is actually supportive of Bitcoin and blockchain. This bullish view was reinforced by CFTC Chairman Heath Tarbert when he appeared on CNBC’s “The Exchange” yesterday.

Tarbert stressed in the interview that Bitcoin is not considered legal tender like the U.S. dollar but is a commodity. As commodities, cryptocurrencies are under the jurisdiction of the CFTC due to the Commodity Exchange Act. Such a view is why Bitcoin futures trading is approved by the CFTC.

CFTC Chairman Heath Tarbert wants to see the cryptocurrency thrive.

When asked why government officials in Washington freaked out over Libra but not Bitcoin, Tarbert responded that Bitcoin has been around for ten years and is fully understood in how it works.

The reason for such regulations is to ensure that Bitcoin and other virtual currencies can continue to innovate.

He says he could see blockchain overtaking the internet, or being parallel with it, in using a variety of different kinds of transactions, including those outside the financial sphere. He added:

“I think whoever ends up leading in this technology will end up writing the rules of the road for the rest of the world. My emphasis is on making sure that the United States is a leader.”
https://cryptopotato.com/cftc-chairman-bullish-on-bitcoin-and-blockchain/

And then, there's all this...
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BIS, known as the central bank of central banks, is based in Basel, Switzerland. It is owned by 60 central banks including the U.S. Federal Reserve, the ECB and the People’s Bank of China. Top ECB official will lead a global central bank effort focusing on digital currencies, https://www.cnbc.com/2019/11/11/ecb-benoit-coeure-to-lead-central-bank-effort-on-digital-currencies.html

The Royal Bank of Canada (RBC) is reportedly developing a cryptocurrency platform, The Logic reports. If launched, the bank‘s customers will be able to trade in cryptocurrencies, including Bitcoin $BTC?0.65% and Ethereum. The bank, one of the country’s largest, is also looking to let customers open cryptocurrency accounts... https://thenextweb.com/hardfork/2019/11/12/big-canadian-bank-rumored-to-offer-cryptocurrency-accounts-bitcoin-trading/

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BTC soared a couple of years ago and major changes since , very different, major adoption!

- Inflow of $200 million to $400 million per week from institutional clients..
- BAKKT went live and setting new transaction records
- China president embracing crypto
- Twitter CEO Jack Dorsey buying $10,000 in bitcoin each week as he predicts 'massive' price rise.
- Fidelity Digital Assets Services - https://www.fidelitydigitalassets.com/overview
- Noted this past July..., less than two weeks ago MetLife announced that it would use Ethereum blockchain to streamline the processing of life insurance claims and StateFarm and USAA are reported to be following suit.
- Also noted this past July..., $346 Billion Giant E*Trade Begins Marketing to Crypto Traders, Bitcoin Trading Desk Imminent?
https://www.newsbtc.com/2019/06/14/etrade-crypto-trading-bitcoin-desk/
- TD Ameritrade-Backed ErisX Gets Green Light to Settle Futures in Bitcoin, ...from a tweet. And the beat goes on and BTC goes up!
The U.S. Commodity Futures Trading Commission (CFTC) has cleared the way for crypto derivatives provider ErisX to offer futures contracts with a new license approval Monday...
https://www.coindesk.com/td-ameritrade-backed-erisx-gets-green-light-to-settle-futures-in-bitcoin
- Bitcoin at Whole Foods, Nordstrom and other retailers
https://finance.yahoo.com/news/flexa-spedn-allows-you-to-use-bitcoin-at-whole-foods-nordstrom-and-other-retailers-212637788.html
- Bitcoin @ Starbucks too, Microsoft using Bitcoin for security .
Starbucks Now Accept Bitcoin.
https://www.forbes.com/sites/michaeldelcastillo/2019/05/13/starbucks-nordstrom-and-whole-foods-now-accept-bitcoin-just-dont-ask-them/#bb8868722526
- Microsoft launching the first decentralized infrastructure implementation by a major tech company that is built directly on the bitcoin blockchain."
https://www.coindesk.com/microsoft-launches-decentralized-identity-tool-on-bitcoin-blockchain.
- 13 Major Retailers and Services That Accept Bitcoin. https://www.lifewire.com/big-sites-that-accept-bitcoin-payments-3485965
- 250+ Places That Accept Bitcoin Payment (Online and Physical Companies)
https://icoholder.com/blog/places-accept-bitcoin/
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More Bitcoin price bullish sentiment mounts...

https://cointelegraph.com/news/lightning-network-will-drive-bitcoin-to-250-000-by-2023-tim-draper

Bitcoin (BTC) could be worth millions of dollars after 2022 as payment processors allow easier transactions, Tim Draper has forecast.

Speaking during a Q&A session at the Malta AI & Blockchain Summit last week, the pro-cryptocurrency venture capitalist said innovations such as the Lightning Network would be key in propelling the Bitcoin price higher.
Draper: 4 years until $250,000 BTC

Doubling down on previous claims, Draper added he still believed BTC/USD would hit $250,000 by 2022 or 2023.

“I think Bitcoin payment processors are really going to open the floodgates,” he summarized.

On the topic of why Bitcoin would reach new records within just the next three to four years, Draper continued:

“It’s because of Lightning Network and OpenNode and maybe others that are allowing us to spend Bitcoin very freely and quickly, so that it’s not just a store of value but it can be used for micropayments; it can be used for retail, it can be used all over.”

Bitcoin price bullish sentiment mounts

While not a payment processor in a strict sense, Lightning facilitates near-instant BTC transactions between nodes via channels that cost almost nothing to use. The fees for Lightning transactions can, therefore, be much cheaper than transacting on-chain — just a single satoshi (approximately $0.00008788).

As Cointelegraph reported, Draper has long been one of Bitcoin’s biggest bulls, joining the likes of John McAfee in delivering sky-high price predictions.

In September, he even went as far as to call the $250,000 figure “conservative,” while subsequently arguing Bitcoin would cause considerable geopolitical upheaval.

Other voices have since joined him in his price belief, with BTCC exchange co-founder Bobby Lee last week claiming BTC/USD would be worth around $500,000 by 2028.