Bitcoin Hater Charlie Munger Accidentally Makes a Case for Crypto

By CCN: Charlie Munger, a 95-year-old billionaire investor and Warren Buffett’s partner at Berkshire Hathaway, expressed concern over the rate at which money is printed by democratic governments. Ironically, Munger, a skeptic of bitcoin, may have accidentally pointed out the merits of the dominant cryptocurrency. Charlie Munger Hates Bitcoin But Fears the Problem It Intends to Solve Buffett Bro: Bitcoin ‘Dementia’ Patients Worship Judas Iscariot https://t.co/avf6SuPZ74 — CCN.com (@CCNMarkets) May 5, 2019 Speaking to CNBC’s Becky Quick alongside Warren Buffett, Munger said that he is concerned by the ability of…

‘Predatory’ Bots Exploiting Decentralized Crypto Exchanges: Report

Arbitrage bots are exploiting “inefficiencies” in decentralized exchanges (DEX), according to a report. Citing recent research from Cornell Tech, Homeland Security News Wire said on Monday that such cryptocurrency platforms are being used by “predatory users” to profit from everyday trades, “siphoning millions or possibly billions of dollars a year in cryptocurrency.” In some cases, high fees are paid to prioritize certain transactions, posing a security threat to entire blockchains, the piece said. According to the article: “Like high-frequency traders on Wall Street, these bots exploit inefficiencies in DEXes, paying high transaction…

Chinese Authorities Probably Want to Exploit Blockchain to Monitor Citizens

By CCN.com: In modern times, China has worked to consolidate state power over individuals. Local authorities are trialing systems to control peoples’ social standing, access to jobs, and even where they can go. Until now, one refuge for its citizens has been in the wooliness of time; not even the all-powerful Communist party can always measure where people go, when, and what they do. But, with a state-mandated blockchain, this could begin to change. Those inside China will be aware of the fate that awaits Bitcoin and other major cryptocurrencies;…

Bitcoin (BTC) Price Rally Reaches Inflection Point: $6.1K and $6.8K Hold Key

Bitcoin price rallied another 4% and climbed above $5,850 against the US Dollar. The price is surging higher, but there are many hurdles near $6,000, $6,070 and $6,100. There was a break above a crucial bearish trend line at $4,730 on the daily chart of the BTC/USD pair (data feed from Kraken). The pair could spike above $6,000 or even towards $6,800 before correcting lower sharply. Bitcoin price is surging higher towards $6,000 against the US Dollar. BTC could extend gains, but it is facing two important hurdles near $6,100…