Italian Minister of Economy Seriously Concerned about “Cryptocurrency Bubble Explosion” 246

Italian Minister of Economy Seriously Concerned about "Cryptocurrency Bubble Explosion"

On Wednesday, Italy’s economy minister talked very critically about the issue of cryptocurrency and mentioned that the “crypto-bubble explosion” could have caused harm even when currently supervised by central banks.

During his speech at the Polytechnic University of Milan, Pier Carlo Padoan decried the recent cryptocurrency market behavior:

“The oversight authorities are ever more active and the central banks are weighing whether to use cryptocurrencies but then, if the phenomenon explodes, they can do harm,” Padoan remarked, according to a report from Ansa Business.

During his speech at the Polytechnic University of Milan, Pier Carlo Padoan decried the recent cryptocurrency market behavior:

“Blockchain is a technology and technology is one thing, and the use you make of it is another,” he told event attendees. “The problem is not the technology but the behavior”.

It is not the first time when such cryptocurrency speculations attracted attention of italian regulatory authorities, including country`s tax office. In late 2016 this body began treating bitcoin as a kind of currency for tax purposes. Regulators, in turn, implemented tough measures against those who promoted OneCoin pyramid in the country. The company ended up paying fine of 2.59 million euros last August .

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Cryptocurrency Prices: Insignificant Growth in the Currency Rating 50

Cryptocurrency Prices: Insignificant Growth in the Currency Rating

According to the trading portal Coinmarketcap.com, Bitcoin (BTC) rose by 0.46% in the last 24 hours. The price at the time of writing is $8315.

The indexes are growing, cryptocurrencies are in the green zone again, although the increase in the rating is no more than 8% of the cost. Ripple added 1.25%, Monero increased by 3.06%, Stellar added 1.32% to the value, EOS rose by 7.30%. Litecoin grew only by 0.43%.

Ethereum is showing an increase by 1.42%. Its value at the time of writing is $704 per coin.

The total market capitalization is $383 billion. Bitcoin accounts for 36.9% of the total amount. It is $141 billion in monetary terms.

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Organizers Used Fake Lamborghinis to Attract Attention to the Consensus 2018 117

Organizers Used Fake Lamborghinis to Attract Attention to the Consensus 2018

Organizers of the conference Consensus 2018 in New York held a kind of promo-action by parking a “Lamborghini” in front of the entrance to the building, where the event was held. The vehicle was provided by the company Broadway Supercars from New Jersey. This has been reported by the CNBC channel.

The point of this was to pass the cars off as the transport of Bitcoin and cryptocurrency investors. As a result of an independent investigation it also became known that the last two Lamborghini vehicles belong to the owner of the renting company, John Nouri.

“We do a lot of this for a lot of companies all the time. It’s an attention grabber. It’s for the people walking in. They all say once you make money in crypto, you buy a lambo. I never made money with crypto but I have ten lambos.” – Nouri said.

The edition notes that the rental price of one vehicle of the company Broadway Supercars is $1000 per day, while its total cost is from $200 thousand and more.

“I see a parallel between young people that are really willing to become very rich with the very high-risk investment, and … the fact that our customers are very young,” Lamborghini CEO Stefano Domenicali told CNBC in a recent interview.

Let us remind you that on Monday, the 14th of May, the Consensus 2018 blockchain conference started in New York. This event is currently the largest in the world. It is devoted to Bitcoin, other cryptocurrencies and blockchain technologies.

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