Bitcoin Continues To Be High Profile – Garzik Subpoenaed – CME Group’s Continue Business as Usual

By Steven Anderson March 16, 2019 Off

The value of Bitcoin is ever changing; therefore it is not the best store of value according to the Yale Professor.

William N. Goetzmann, Yale Professor, says “There are a few basic things any currency has to fulfill. It has to be a store value.  It has to be a method of transferring value. With Bitcoin, because it fluctuates so much,it’s not a particularly good store of value. You could put in $100 worth today, and it could be worth $25 two weeks from now. Until it overcomes that particular feature, it’s not a great currency.”

Jeff Garzik, a Bitcoin Pioneer and Software Engineer, have been subpoenaed. 

The complaint per the official documents stated that he “forged a series of contracts that purported to transfer Dave’s assets to Craig and/or companies controlled by him. Craig backdated these contracts and forged Dave’s signature on them.”

The Writ has ordered Garzik to appear in the court to reveal evidence for the personal theory that claims that Kleiman was Satoshi Nakamoto.  The subpoena further requires Garzik to provide communications, documents, and agreements which are related to both Wright and Kleiman.

The details of Bitcoin mining for the period ranging from January 1, 2009, and April 2013, have as well been required.

The current subpoena’s cause of action was the statement of Garzik in the past year when he stated: “My personal theory is that it’s [Satoshi Nakamoto] Floridian Dave Kleiman. It matches his coding style; this gentleman was self-taught. And the Bitcoin coder was someone who was very, very smart, but not a classically trained software engineer.”

CME Group’s Bitcoin futures market is not shaken, and they are continuing their business as usual.  “CFE is assessing its approach concerning its plans to continue to provide digital asset derivatives for the trading. While it considers its next steps, CFE does not currently intend to list additional XBT futures contracts for trading.”

Previously there were concerns about who accepts Bitcoin and what you can buy with Bitcoin? The list of companies buying Bitcoin is growing by the day, and it begins with KFC Canada through, and the list is continuing to expand.

The market is doing well, and the signs of crypto spring are already there. There are higher volumes in trading, and more people are getting involved in trading.

Bitcoin is officially recognized as a commodity in Indonesia.  Crypto Regulations are happening across the world to encourage mainstream adoption.  Institutional Interest in the crypto is mounting. Bitcoin continues to be high profile stuff.