by Mish

Recently our customers requested that Ripple bring together leaders in banking and blockchain who are committed to changing the way the world moves money today. Challenge accepted. Today, we’re pleased to announce Swell: The Future Is Here, taking place in Toronto from October 16-18.
Swell is attracting a roster of payments experts and industry luminaries to discuss trends, success stories of blockchain implementations and real-world blockchain use cases to meet changing customer demands for global payments.
Dr. Ben Bernanke, Chairman, The Federal Reserve System (2006-2014) to be interviewed by Gene Sperling, National Economic Council Director and National Economic Advisor under Presidents Clinton and Obama (1996-2001, 2011-2014).
Sir Tim Berners-Lee, Inventor of the World Wide Web who will present A Look Ahead Into the Future of Tech.
Swell is an exclusive, invitation-only event.

Bloomberg reports Bernanke to Give Keynote Speech at October Cryptocurrency Event.

Ben Bernanke, former chairman of the Federal Reserve, will be the keynote speaker at a blockchain and banking conference in October hosted by Ripple, the startup behind the fourth largest digital currency.
The three-day event, called “Swell,” starts Oct. 16 in Toronto, Ripple said in a statement on its website. Bernanke, who has criticized cryptocurrencies in the past, will be interviewed by Gene Sperling, the former national economic adviser under Presidents Bill Clinton and Barack Obama.
Bernanke wrote that virtual currencies could have “long-term promise” in a 2013 letter to Congress. However, in a 2015 interview with Quartz, he said bitcoin has “some serious problems,” including its anonymity and lack of stability. Bernanke was not immediately available to comment.

Cheerleader Forecast

Here’s another opinion, written July 11, courtesy of MarketWatch and Brett Arends: Stay away from bitcoin and ethereum — they are complete garbage


On August 19 Arends wrote This bitcoin $25,000 call is more proof of the cybercurrency bubble.

I don’t have an opinion on where Bitcoin is headed in any particular timeframe. Those who predict outrageously higher numbers are making wild ass guesses reminiscent of metrics used to justify valuations in the dotcom bubble.

I do have an opinion as to whether or not Bitcoin is in a bubble. I believe it is, and I don’t invest in bubbles.

Related Articles

  1. Bitcoin vs Gold: Peter Schiff vs Max Keiser – Who is Right? Bitcoins the New Beaver Pelts?
  2. Bitcoin in Perspective: Bill Gates Worth More, Gold 200 Times More
  3. Jim Cramer Goes Batty “Bitcoin May Hit $1,000,000”: Act Now Before It’s Too Late!

Mike “Mish” Shedlock

Ben Bernanke Just Won't Stop Making a Fool Out of Himself

Former Fed Chair Ben Bernanke is back in action doing what he does best, making a fool out of himself.

Cryptocurrencies "Greatest Opportunity" to Get Millennials to Trade

TD Ameritrade hopes to get millennials to trade. Cryptocurrencies is the way.

Secular Stagnation Theory: Challenge to DeLong, Summers, Bernanke, Krugman

Some interesting charts came my way today regarding the income inequality debate.

Event Risk and Trump’s Weak Dollar Policy

Saxo Bank CIO and chief economist Steen Jakobsen sees event risks on the near horizon in terms of Trump policies and the US dollar.

Support for Impeachment Peaked in October

Support for impeachment, regardless of political affiliation, peaked in October.

Catalan Independence Vote October 1: Why? What’s At Stake? What do the Polls Suggest?

Unless the central government in Madrid forcibly stops elections, the Catalan Independence Vote will take place on October 1. Politico covers What Spain has to Lose from Catalan Independence.

Balance Sheet Reduction Starts October: Like “Watching Paint Dry”

As expected the Fed will begin balance sheet reduction in October.

Bitcoin and All Existing Cryptocurrencies Headed to Zero

MacroVoices host Erik Townsend has me convinced that Bitcoin fans have things ass-backward. Bitcoin is headed to zero.

Pure Fake News (PFN) from Investopedia “IMF Urges Banks to Invest In Cryptocurrencies”

An article from Investopedia recently caught my attention: “IMF Urges Banks to Invest In Cryptocurrencies”