{"id":310,"date":"2017-12-05T21:36:48","date_gmt":"2017-12-05T21:36:48","guid":{"rendered":"https:\/\/blockchain-society.science\/?p=310"},"modified":"2017-12-05T21:36:48","modified_gmt":"2017-12-05T21:36:48","slug":"despite-run-up-bitcoins-future-is-still-uncertain-the-boston-globe","status":"publish","type":"post","link":"https:\/\/blockchain-society.science\/?p=310","title":{"rendered":"Despite run-up, bitcoin\u2019s future is still uncertain &#8211; The Boston Globe"},"content":{"rendered":"<blockquote><p>That\u2019s the theory. But Preston Byrne doesn\u2019t buy it.\u201cIt\u2019s outrageous what CME is doing,\u201d said Byrne, a fellow at the Adam Smith Institute, a free-market think tank in the UK and former chief operating officer of Monax, a blockchain software company in London. He pointed to a statement issued Friday by the US Commodity Futures Trading Commission, in which the agency admitted that it has little power to keep bitcoin markets honest, and warned of \u201cthe potentially high level of volatility and risk in trading these contracts.\u201d\u201cThis is the understatement of the century,\u201d said Byrne.He believes media hype is attracting individual investors to the bitcoin market. Some are gambling their retirement funds, while others are buying the currency with credit cards, saddling themselves with high-interest debt. The bitcoin boom, said Byrne, \u201cexhibits all of the classic features you would expect from a financial mania.\u201d He is sure it will fall, and he worries that the CME\u2019s decision to permit futures trading will ensure that damage from the crash will spread to other financial markets.But for now, nobody\u2019s listening.<\/p><\/blockquote>\n<p>Source: <em><a href=\"https:\/\/www.bostonglobe.com\/business\/2017\/12\/01\/despite-run-bitcoin-future-still-uncertain\/eRfo1tbwoEyKqyfyOrR92I\/story.html\">Despite run-up, bitcoin\u2019s future is still uncertain &#8211; The Boston Globe<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>That\u2019s the theory. But Preston Byrne doesn\u2019t buy it.\u201cIt\u2019s outrageous what CME is doing,\u201d said Byrne, a fellow at the Adam Smith Institute, a free-market think tank in the UK and former chief operating officer of Monax, a blockchain software company in London. He pointed to a statement issued Friday by the US Commodity Futures [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[8,22,31,13,5],"tags":[],"_links":{"self":[{"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/posts\/310"}],"collection":[{"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=310"}],"version-history":[{"count":1,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/posts\/310\/revisions"}],"predecessor-version":[{"id":311,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/posts\/310\/revisions\/311"}],"wp:attachment":[{"href":"https:\/\/blockchain-society.science\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}