the currency of choice is bitcoin.coin believers say there's a lot more criminal activity with card hold cash that's not deterring law enforcements it could change the investing landscape for bitcoin. >> melissa, thank you very much. >> thank you, becky. >> for more you can see our complete documentary, bitcoin boom or bust, on demand or on cnbc.com. >>> on the money, aretha franklin, prince, just a few who have passed away without a will in place the documents you need to have no matter who you are. >>> the school year is in session. see how one company is making an impact with something most every kid needs. and keeps it there longer with lock-in moisture technology skin is petal smooth after all, a cleanser's just a cleanser unless it's olay. olay regenerist wipes out the competition; hydrating better than $100, $200 even $400 creams. with our b3 complex, beautiful skin doesn't have to cost a fortune. olay. >>> it's sad to think about the passing of music legends like aretha franklin and prince it's sad to know the

he said bitcoin would be double. likely to hit 40,000 why is he calling for the crypt of comeback now and what does he think about the move in ripple he will talk all things crypto we heard you loud and clear krips o universe we tweeted you voted you want the bit coin bug back boom there it is the bit coin bug is officially back by popular demand at least for tonight so twitter take a chill pill we start tonight with the fang fade out in an old school blast of maria carey. is it time to let go of fang as the market hits high after new high, the fang stocks no where to be found. none at new highs facebook in bear market. netflix in correction. google barely out of correction. amazon down 7% from its high all the fang stocks sell off today as well is this trade the fang trade over guy. >> i think it's going to start around 2 pretty soon but you have to pick spots we had conversations about this. we tab talked about amazon maybe ahead of the skis in terms of valuation relative strength. we said trades at 1850 i'll stand

the austrian press has dubbed her the bitcoin queen. marked elina is brand sells thousands of euros worth of because every day. demand is strong. of course people are interested in the returns they can get a lot of them want to get rich. it's no wonder bitcoins crazy price history is like something out of a hollywood movie. erik film an an american teenager made headlines around the world after the one thousand dollars he invested in bitcoin when he was only twelve made him a millionaire just before his eighteenth birthday. but they have recently been some sharp falls east and advises her clients she has a very simple long term strategy. i'd rather place my trust in mathematics cryptography and technology than any third parties our banks. luck trying to knology is a decentralized database a sort of register sums of money shares and contracts are recorded quickly cheaply and without intermediaries such as banks. entries cannot be changed. a number of blocks of digital information form a data chain this is the so-called blocked chain and

governments and the banks are driving people to bitcoin bitcoin the world is that simple the financial crisis doesn't seem to be really over so confidence in the euro is too when dealing with confidence and that kind is rising and you can see that clearly from the exchange rate as well because all. austria is in the grip of cryptocurrency fever. based at a prime location in downtown vienna magdalena eastlands exchanges hard cash for virtual money. her clients anything in the computer and. since your lot isn't their young people have teenagers who see it more as a lifestyle product and think bitcoin is cool i know that we have twenty to forty year old spa people who see it as an investment but also elderly people i have an eighty year old who also wanted to trade the coins i explained to him how you trade in crypto currency he got it and was super happy. for it the big cash machine is a customer magnet it's one as euro notes and spits out digital coins into a smartphone based online oneness with in seconds. the german business woman had good reason to choose vienna for her operation. to

scammony have no chance at all say bitcoin supported. jerk plots the fifty year old restauranteur lost all trust in the financial system long ago he's disillusioned with the global finance structure. i believe that our economic and financial system is facing very serious problems and these are getting increasingly extreme. and also increasingly damaging to our society. they are widening the gap between rich and poor. and we've also created a system we have a class of bankers who answer to nobody. uses like platts are calling for change they say the people not the financial world should control the money because i'm good with this currency nobody needs middlemen nobody needs banks nobody needs permission to use it you don't have to show an id card get a credit reference or fill out an application you just download a program or enough and then you can use a bit calling quite easily. the billionaire was the first restaurant owner in the world to accept bitcoin as a means of payment he's convinced digital currencies are already competing aga

bob pisani at the nyse does this mean that wall street is over bitcoin and are bitcoin's last days behindd be worth $10 trillion rbc analyst mitch is with us >> the move by goldman seems to include the fear that the institutionalinvestors have cold feet about bit coin because of regulatory issues should this be a concern for bitcoin investors? >> i don't think it's a really big concern. first of all, the institutional investors that have been involved for the last five years or so is still involved in the space and still tracking very closely. what i think goldman is having a hard time with is they can't find a way to get institutional investors to invest and they're investing in a circle which is essentially a competitor to coin base, right? so they are able to get trading flows in the retail side, but the institutional side is very difficult and so i think what they're realizing now is probably the next step to get them and they're waiting now for a bitcoin etf to be approved >> you first came on the show with the initial report and that was that bitcoin and the ecosystem could be a tri

so why are these firms exploring derivative products instead of trading bitcoin?regulatory issues ig it's a big problem. custody is the problem the s.e.c. made it clear they are not pruchgt bitcoin etf's until the issue of custody is rfrld. but how to story the private keys, self-store something not going to work. the s.e.c. requires private funds with significant assets to use a third party. so cryptocompany bitco is among the companies looking to fill the gap. they received a chart frere the south dakota division of banking. they have to file financials, adhere to know your customer and anti-money laurnderring rules. and file antidisclosure. if they can crack it this will be a leap for bitcoin pap back to you. >>> thank you bob. for more we brought in our bitcoin brian kelly to get his take on this how important are the due developments. >> i think the morgan stanley is important for sentiment. you saw goldman sachs. people have been waiting for the herd, the institutional herd to come and so the fact that morgan stanley and citi bank, that helps sentiment. the

many investors bought bitcoins in the hope of getting rich quick.stoked a bubble, but it's lost almost two thirds of its value this year alone. in fact, the total market value of all cryptocurrencies has plummeted from $800 billion in january this year to just $200 billion last month. and late on wednesday, a report that goldman sachs was abandoning plans to start trading cryptocurrencies saw another selloff. samira hussain in new york has more. is perhaps a sign of the volatility of cryptocurrencies are just one report from one newsagency can cause such dramatic falls. —— it is. goldman sachs is a giant in the world of investment trading and the fa ct world of investment trading and the fact that they were planning on the opening of trading desk in the world of cryptocurrencies lent that world a great deal of credibility, but one business insider has reported the bank is now backing away from those plans. at a tech conference in san francisco, the chief a natural office of the goldman sachs called that report fake news. nonetheless, the values of t

no indication, and goldman may be fudging on whether they may be getting into bitcoin. they have the recent reports that goldman would shelf it as, quote, fake news he didn't elaborate on exactly what he meant by that and try to get that clearer back to you, melissa >> bob pis annani at the nyse. it would be an exploration that would be evolving over time and that would seem to indicate there was never a timeframe and it would be too strong language in terms of what they said about exploring whether or not it would -- at this point, though i think you look at the space and it's not been great and there needs to be a catalyst to get it going and remember, as well the same investors are investing in crypto currencies and they're investing in cannabis and right now cannabis is on fire and the amount of money that's flown into that space, and from $17 in an ipo and 95 bucks pulled back. it is a lot of retail flow and again, it's the same type of investor that's investing in cryptocurrency and i think once the caught lift happens, one the story, and i can see money going rig

and i ask him if bitcoin has lived up to its revolutionary promise. first it was fighting against the banks the existing financial systems if you like the banks had already screwed everybody over and we almost had like massive catastrophe but right now this is a new type of financial instrument and you monetary system gave us the potential to maybe create something new bitcoin is the original crypto currency and i think right now it's been frustrating about how the old world economy has been catching up how old world investors have been catching up because we've got a quite a long. from let's say more of the beginnings of currencies into what we're seeing now the only way the crypto really goes well is by integrating with the traditional world because they're started out as an anarchist project but cryptocurrency is a chain and now mainstream big banks and investors have got involved. they have discovered you can also speculate with because. ninety six percent of all bitcoins belong to four percent of the honus so just a few profit from sorry prices a

those will never come back like bitcoin would. fidelity, blackrock, they're not wanting all coin products, they are launching bitcoin products. bitcoin will rebound and we are seeing no slowdown at the pay -- bitpay. our merchants are signing up more and more or hiring more people. doubling ourse is teams. it is still fullsteam ahead. there are a lot of all coin dodgy ones out there so who knows what will happen to them. bitcoin is the leader in the space. emily: all right, sonny, and joe, thank you. i know joe will continue to follow the dodging this tweet by tweet. one of the biggest people on has downgraded their company -- downgraded tesla as no longer viable. he called this because of the erratic behavior because of's elon musk -- because of elon musk. gran shotwell desk when shotwell says elon is a brilliant man. speaking at a satellite industry conference, shotwell went on to say the boss is as lucid and capable as he ever has been. we are counting down to the next evolutione iphone with apples big reveal on wednesday. we b

in two thousand and ten one bitcoin was worth less than one u.s. senate in two thousand and thirteen it was worth one thousand dollars and in december two thousand and seventeen it jumped to almost twenty thousand dollars. because it was invented as an alternative to the prevailing cold the financial system a revolutionary way to conduct transactions without third party intervention no banks no central banks no government authorities except much rather the consultant to the advisors companies on creating their own crypto currency he also runs a group here in berlin for people interested in crypto currency use. it and i ask him if bitcoin has lived up to its revolutionary promise. first it was fighting against the banks the existing financial systems if you like the banks had already screwed everybody over and we almost had like massive catastrophe but right now this is a new type of financial instrument a new monetary system gave us the potential to maybe create something new bitcoin is the original crypto currency and i think right now it's been f

support level lopes bitcoin support level of six thousand dollars prices today have come back somewhat we'll have the bitcoin number at the closing bell at the break but some continue to question these major market moves today is certainly no exception as the theory has been on usually volatile when we look at crypto prices it certainly isn't a place for investors who are fate of heart it reminds me of the last time the king of rock'n'roll elvis presley was seen in public he had rented the liberty land amusement park in memphis tennessee and had a little at little after one am here arrived with some guest and elvis rode the zippin pippin roller coaster and while he was on it he lost one of those ginormous signature belts that he owned for crypto investors they could lose a lot more than a belt buckle on the crypto roller coaster ride that said a lot of folks look roller coasters and for more on this we're joined by jeffrey tucker the editorial director in mare american institute for economic research and nick spent the founder of the bitcoin center and y.c. thanks to both you're being

selllast time, you said to bitcoin windows vista below -- bitcoin was just below $8,000?re i would sell. abigail: talk to me. >> bitcoin is heading down. the significance of this chart is the short interest. the most we can determine including what is in the market and futures, we had a decent spike in short interest, short covering, market goes up. but we had the same amount of pull off short covering, so diminishing returns. in the meantime, this is a magenta line is the bloomberg galaxy crypto index. it is made a new low. if bitcoin catches up, it will be around $5,000. markets are declining, but overall, the trend is down and should be looking to sell rallies and the key thing to diminishing returns for short covering in that going. >> where we do sell the futures for and what would be the stock level? to sell,s good levels your stocks should be right around these levels sustaining around $8,500 and the target around $5,000. have to make it difficult so that could be kind of hard, but overall, this is an area to be selling the market and futures is a good way to do th

and now we move to what some have called a crypto bloodbath as bitcoin in a theory i'm lost roughly ten billion dollars in value the story of how it seems to have occurred is interesting a few days ago a wallet containing seven hundred twenty million dollars a bit coin which had gone long on the crypto currency and not traded anything since march of two thousand and fourteen began trading began selling on the hong kong exchange bit the next after three days of selling large lots of one hundred bitcoins each in sub wallets some question the origin of the previously dormant money could it be related to the nefarious silk road scandal of crypto dark market used in part for drug transactions and other illicit purposes including money laundering or could it be a wallet full of stolen crypto cash from twenty fourteen's hack of the japanese crypto exchange mt gox more than four hundred million dollars went poof in an instant there one japanese basic euro t. agency says they believe it is the case could be mt gox money inquiring minds want to know but this is crypto so for now folks will have t

bitcoin hung in there and picked up. bitcoin is coming back to the broader market. a question. would be trading in bitcoin we have seen of late being that it has shifted a little more away and more to this idea that there was this fundamental nature to it that goldman sachs and these hedge funds were building some sort of structure around bitcoin or cryptocurrencies in general that would give some legitimacy to this and that there would be some sort of fundamental that you can trade off. is that not the case? >> two key things. circulation, yes. goldman sachs, they want to trade it. is a wonderful environment. the spread are wonderful, but then actual value case as a digital gold as a digital currency is really strong with these emerging markets collapsing like turkey. there is a good place for people to go now. bitcoin is one of the most volatile. the problem is going from a bear market to another very market is a bit of a problem. people are using bitcoin to good money, diversify, and then move more stable coins. the biggest, best, most appreciating coin is tether

even lend is an outgoing with digital money that could ultimately put them out of business but is bitcoin here to stay. eight years ago a pizza order to underworld of finance on its head. over these two pieces worth sixty three million dollars of course not in two thousand and ten the program the last one hundred years paid ten thousand times for it at that time only worth forty u.s. dollars nowadays this would make sixty three million u.s. dollars. today honey it says no one had any idea that transaction would go down in history as a milestone but this fateful first ever recorded transaction of bitcoin is what kickstart the cryptocurrency boom. in two thousand and ten one bitcoin was worth less than one us cent in two thousand and thirteen it was worth one thousand dollars and in december two thousand and seventeen it jumped to almost twenty thousand dollars. because it was invented as an alternative to the prevailing club or financial system a revolutionary way to conduct transactions without third party intervention no banks no central banks no government authorities except much rather

we are up $164 for $6,479 per bitcoin.or those of you who got into bitcoin early, say when it was $100 per coin, you are still in the major money, right? now it's $6,000 plus. not if you forgot your password. this is actually happening. millions of dollars worth of bitcoins inaccessible because owners can't remember their password or they lost the hard drive on which the password was stored. the complicated string of numbers and letters, gone and fingerprint and retina scans, the early bitcoin password technologies did not offer those. now the maybe never forget your password might be here. dna. carver, a cutting edge molecular cold storage data vault developed by a group of asset managers and biotechnologists. their way could send all other data securing methods to the highway if they're right. to the founder of carver's, here in a fox business exclusive. the stories of people forgetting their password or losing their hard drive is just unbelievable and now you say that won't happen with what you have. >> i mean, if you l

you got bitcoin there is no cash whatsoever. you bite in the hopes that you can sell it to someone else for a higher price than what you paid so you pay a foolish price hoping for a bigger fool to come along. >> you talk about power, lying, and cancer, what is that story? >> we see something that we draw conclusions that aren't there. so this lady and boyfriend are look to houses where they been cancer victims. you can always find something in common. might be water towers are they conclude powerlines cause cancer. there is a huge national thing about it. there are books and warnings they want to tear down powerlines. as it turned out it's a bunch of bull. every scientific study we left them. and just because you see something when it's just random coincidence. political pollsters how can they avoid the regression to the mean. so we interpret something so vanessa look at the poles up or down don't think it's the start of along trends come it's like a company when the company earnings go up they thought it was 30% forever. part o

a lot of bitcoin investors have been frustrated by the lack of return in bitcoin. >>> still ahead, we minds some ochtd biggest na efof the business gathering in what may be the most beautiful place in the world. anywhere steve sedgwick is may be the most beautiful place in the world. we'll show you where that is, why he's there and what they're saying as "worldwide exchange" rolls on ng my dreams a reality takes more than just investment advice. from insurance to savings to retirement, it takes someone with experience and knowledge who can help me build a complete plan. brian, my certified financial planner™ professional, is committed to working in my best interest. i call it my "comfortable future plan," and it's all possible with a cfp® professional. find your certified financial planner™ professional at letsmakeaplan.org. >>> counting down to the august jobs number. dominic chu is back with what we can expect listen, we know the economy is good the question is how good >> it's good enough. maybe the markets have been weak over the past four, five days, but looking at how we're shap

coming up, betting on the bitcoin boom.canadian pound is onlineto revive the currency. this is bloomberg. ♪ joe: "what'd you miss?" a canadian ghost town took a gamble on bitcoin. the cryptocurrency boom is reaching ocean falls, a town with fewer than 100 residents largely abandoned for the last 40 years. for more, let's bring in bloomberg's technology josh christine who traveled there to --d out -- josh bruce seeing brustine to find out. >> ocean falls is the former milltown and when that crows down, they have spent decades to trying to get any business to relocate up there. the problem is it is hard to get in and out to you need a business that does not move anything and bitcoin was a good way to do so. caroline: how steady is the business model? bitcoins price is not steady and clearly investment is going on at the moment and well above prices we have seen five years ago, but how much do we see the millown's will benefit -- towns will benefit. josh: i saw investor documents that projected the price to be about $11,000 wh

it and i ask him if bitcoin has lived up to its revolutionary promise. first it was fighting against the banks the existing financial systems if you like the banks had already screwed everybody over and we almost had like massive catastrophe but right now this is a new type of financial instrument and the monetary system gave us the potential to maybe create something new bitcoin is the original crypto currency and i think right now it's been fascinating about how the old world economy has been catching up how old world investors have been catching up because we've gone quite a long. a from that same war of the beginnings of encrypted currencies into what we're seeing now the only way the crypto really goes well is by integrating with the traditional world. and there started out as an anarchist project that crypto currencies and block chain are now mainstream big banks and investors have got involved. they have discovered you can also speculate with because. ninety six percent of all bitcoins belong to four percent of the current owners so just a few pro

bitcoin down big again this morning. we'll find out why, and it has to do with goldman sachs it's thursday, september 6th, "worldwide exchange" begins right now. ♪ >>> good morning from wherever in the world you may be watching i'm brian sullivan thank you for joining us on what is another busy week the dow futures up slightly here this is not the market story dow futures up 34 points the story continues around the world and with cryptocurrencies. we'll bring you the one big number that you need to watch today. and that is in the crypto space. it's bitcoin bitcoin is down another 6% we'll dig in more on this big drop in the cryptos coming up in a few minutes. first, we have to begin with a story that's got everybody talking today. the "new york times" publishing an anonymous op-ed titled "i'm part of the resistance inside the trump administration." the paper purports to be written by a senior white house official president trump on the attack last night calling the op-ed gutless and tweeting treason let's get to eamon ja

the independent says bitcoin and other major cryptocurrencies are crashing in a sudden and dramatic marketollapse. one of the factors potentially contributing to the crash could be reports investment bank goldman sachs is dropping plans for a cryptocurrency trading desk. and finally, his picture is on the front of guardian and many other news outlets. american actor burt reynolds, the star of such classic films as deliverance, smokey and the bandit and boogie nights, has died at age 82. so let's begin. with me is lawrence gosling, who's editor—in—chief of what investment. let's talk about this story on the front page of the daily telegraph. we heard from the little piece we had five minutes ago, this is quite a coup, isn't it, a diplomatic coup for theresa may to get this international backing? it is, and so much of uk politics at the moment is about brexit and how unpopular her brexit plan is. here, she almost has unilateral support for the uk government's views on russia. she has the us on russia —— the us on one hand, and all the major european partners supporting her. the daily telegra

today, bitcoin is up about 1%.the man who made his fortune in digital currency, galaxy digital capital management founder. michael, you were the first legitimate voice for crypto currency, the first billionaire hedge fund guy, the first institutional guy who made so much money that got into crypto currency. i got an interview where you first invested in bitcoin at $96. it's about $6500 today. what did you see then that other people didn't? >> call it luck. no. listen, what i looked at then, i thought here's a new technology which is very cool that answered a call and that was people were upset with the institutions of the world. they were upset with banks, they were upset with central banks. at that point, qe2 had started and you were printing money and people really thought there would be debasement of fiat currency and this was a new way of creating a digital store of value. what i liked about it at that point is there was this big pile of people that want to live or the grid, libertarians and people that were si

to mine bitcoin and secure the network. is getting people to mine our data and provide intelligence us to, so i think it's all about incentives. liz: how do people get into your fund, is there a minimum? >> yeah, the fund has high minimums for credited investors. liz: accredited investors. >> keep us posted because this is a story, it's the future of technology especially when it comes to thin tech. thank you for joining us, richard. >> sure. liz: closing bell 7 minutes away, for parents it's the most wonderful time of the year. back to school time, and our $2 billion closer has investment lessons for you for your portfolio. we're going back to investment school. "countdown" coming right back. don't go away. is. . ♪ liz: three minutes left of trade. the markets are about to wrap up the holiday-shortened first in september. nicole, give us the winners and losers. >> when we break it down we do have exact winners and losers. so looking on the dow jones industrial average, liz, you can see home depot, coca-cola, johnson & john

europe weighs in on tougher rules on the likes of bitcoin bitcoin and ethereum.heir value continues to plunge. also in business — markets awaiting the next move in the us—china trade war. hello. a very warm welcome to the programme — briefing you on all you need to know in global news, business and sport. you can, of course, be part of the conversation. as news emerges of a theft of customer data from british airways‘ website and mobile app, how confident do you feel entering your personal and financial data online? tell us what you think. just use the hashtag, #bbcthebriefing. one by one, many of president trump's closest aides have been publicly denying authorship of the anonymous editorial in the new york times. it paints a damning picture of the trump white house. the writer — described by the times as "a senior official" — describes an "erratic, impulsive, amoral" president, whose "misguided impulses" — it claims — need to be controlled or blocked by his senior staff for the good of the country. chris buckler reports from washington. ata at a rally in montan

within two trading sessions, bitcoins were down 12%. another crypto currency got hit even harder by about 20% within 24 hours. christoph: there are times when many said crypto currencies are the next big thing in finance. are they still saying that? jens: if we look back pretty much a year ago, bitcoinins stod at $4000 apiece. then they went almost $20,000 by christmas. then the hyepe started to fade and we are at a good $6,000. the hype is to a certain degree over, but that does not mean the end of crypto currencies. they are trying out ways to deal with crypto currencies. it is not the end, but the hype has finished quite a bit in the past couple months already. christoph: bitcoin and other currencies under pressure. jens korte reporting from wall street. back to brent and some very dedicated activists. brent: we will take you to western germany, where there is a clash with environmental activists over the future of a forest. police moved to secure the forest ahead of its coming out next month, but environmentalists are starting with

i am going to pay by bitcoin. so i'm going to pay in litecoin. in litecoin?. payment is relatively straightforward. i open an app, type in my pin number, scan in the retailer's qr code, and we are done. it is even possible to add a tip and pay for a tip in cryptocurrency. who knew? but, as with any emerging technology, there is the occasional hiccup. it is taking a while. it is. it always helps to charge your ipad. maybe it is a wi—fi issue? there we go. done. all right, you got it? yes, all approved, thank you very much. thank you. amazing, that was so fast. i feel kind of weird, not having signed anything. tick, done. here, almost everybody in the tourist business, from posh hotels to cafes, restaurants and tour operators, arejumping on board the crypto wagon. so, it is all well and good to be scanning and tapping my way around agnes water and 1770, but what are the pitfalls? the main disadvantage is always going to be, particularly with really volatile and easily—traded digital currencies, that the price will fluctuate while you are on holiday. so my numbe

no stranger to big calls about bitcoin he previously predicted that bitcoin could hit $40,000 by theand just two months ago, they also said that the market caps were all virtual currencies, everything, would re match an all-time high of $800 billion, within the next 12 months, the market cap for cryptocurrency is currently sitting at $200 billion after hitting a new 2018 low of $186 billion on wednesday, a lot of numbers there but let me give you this one bitcoin stands at $6,489 now and now as they keep themselves together there's one stock in the market being called unbreakable. nicole petallides on the floor of the new york stock exchange with today's business brief. nicole: that's right liz claman. well, corning hitting a new multi-year high after citigroup raised it to a buy upping its price target to $40 a share and citi saying strong smartphone demand for the company's will help share long term with stock currently up about a half of 1% and discovery at its highest point in over three years after a price target hike by macquarie to $38 a share and gains after announcing new pa

on bitcoin and other crypto currencies.g on bitcoin and other crypto currencies. ok, so ijust scan the shop's qr code... but for day—to—day transactions like buying a cup of copy, it is often not particularly useful, with few retailers accepting it. —— coffee. we get the tick, money sent. that was quick. that is what brisbane airport is pushing to change, with the assistance of the company travelbybit. we enable anyone to ta ke travelbybit. we enable anyone to take payments in crypto currencies. we have built up an entire infrastructure so you can travel through queensland and pattaya a journey with crypto currency. —— paid for yourjourney. my flight ta kes paid for yourjourney. my flight takes me to gladstone, a small town on queensland's coast and an hour and a half's drive from our final destination, agnes water and 1770, australia's first crypto currency friendly tourist town. 25 litecoin. .. friendly tourist town. 25 litecoin... even friendly tourist town. 25 litecoin. .. even the friendly tourist town. 25 litecoin...

-- obliterated relative to bitcoin.er ones have done far worse. for more on cryptocurrencies, i want to bring in andy bromberg, coinlist cofounder and ceo. coinlist helps companies raise money for initial fund offerings or ico's. just straight up, how has this year's market affected your business or platform for ico's? i think last year, we were seeing almost every ico soaring through the sky on a lot of this year,and on -- a lot of them going into the ground. i think that is consistent with a bifurcation between high-quality projects and low-quality ones. investors are beginning to understand how to do due diligence. last year everything was going well and they would invest in anything. this year, it's a lot harder to get at attention if you are a low-quality project. joe: quality aside, do you still see a comparable level of overall investor flow onto your platform? >> absolutely. if you look at the numbers last year, $6 billion went into ico's. this year, looking at about $15 billion so far and we aren't even all the

the up into me of that was bitcoin. thate -- the abu dhabi of itomey of that was bitcoin.er what could be wild west scenarios. joe: we can look at the market cap of a constellation brands that is highly successful as a liquor company, it is a $40 billion company. it is not facebook or amazon territory. even when you go to the big liquor companies, there is a limit to where your imagination can go. >> that is one of the things that severely limits the potential of the cannabis bubble versus bitcoin. comparables and no limits to what it could be. to your point, you have tobacco companies, up the hall companies, and the likely intervention of the government. if this grows, they will want to impose taxes on it like they did when they repealed prohibition. joe: it's funny you mention prohibition, that is another thing that out was illegal andughout the entire world then prohibition was only repealed in 1903. -- 1923. >> this only comes to fruition as mood falls. not necessarily in the same antiestablishment, but devices. when mood is low, anything goes behaviorally. you start t

there is other payment industries that are coming out like bitcoin. bitcoin is one of those unsure things but with new progress there, you might see other transitions and then the question is does paper go away? so these are all the things that are factoring in or is there a different type of paper in there. >> what was fascinating over the holiday season, i saw a chart of the stores accepting bitcoin and then with ico, there is other kinds of currency out there. >> it is incredible. bitcoin with the wallet selection, people are more secure about it. i think the phase the initial scare is kind of over and people are trying to embrace it and figure out that is the next new thing. anything where they are doing a simple and fast and secure is the way of the future. >> so how do you pars all of this out as a business owner and figure out what you should be following or offering. >> sure. it is tough. what you first have to look at is who are you trying to target and what is your customer base and your goals for the future. are you running a brick and mart

thirty percent rise last year some with four hundred to five hundred trades per second per second and bitcoin rose to twenty thousand dollars. china's building two point one billion dollars a year. industrial park but don't let the numbers overwhelm. the only numbers you need remember one one business shows you can't afford to miss the one and only boom but. what politicians do. put themselves on the line. to get accepted or rejected. so when you want to be president i'm sure more some want to be rich. have to try to cross the sea level before three in the morning can't be good but i'm interested always in the waters about how. this should. bug them to maximize your financial survival guide. looking forward to years that's without. yanks this is what happens to pensions in britain delegates up watch kaiser report. shows seemed wrong all right old old just don't call. me old but yet to shape out these days to come to educate and gain from it because betrayal. when so many find themselves worlds apart. just to look for common ground. yes. that. our. pilots cabled us now that we're biased there

extending its slump and dragging down rival cryptocurrency bitcoin accounts for more than half of the digital currency market several financial firms have pulled back from cryptocurrency this year in part due to concerns about government efforts to step up oversight of the sector. now for more let's bring in our man on wall street yes cordy yes cryptocurrency on nosediving give us some more background on what's going on. you know what one of the main reasons for this current crisis of cryptocurrency it comes from goldman sachs and the u.s. bank actually decided to drop plans to start trading desk on crypto currencies and that really got those coins going south just within twenty four hours or so within two trading sessions so to speak were down by about twelve percent and. another cryptocurrency got hit even harder by about twenty percent just within twenty four hours so there were times when many said cryptocurrency is where the next big thing and signs are they still saying that. well the hype has already vanished quite a bit if we look back pretty much a year ago because for exampl

max i'm going to go into a very good reason for having bitcoin and cryptocurrency in this first headline because there's an interesting concept called stealing productivity now you know in resource rich nations the rulers often don't have any need for the consent of the people because they have all the free resources the printing money isn't it in the western financial eyes the world with all these financial products whether the derivatives or basically the fact that bankers and the elite get the fresh cash first they get the free resource of cash and then they dispense it so with that financial system we have this concept of stealing productivity and it came out in this article in the atlantic the win win fallacy entrepreneurs say they're trying to help others while also helping themselves but that claim may be hope masquerading as description so they talk about this guy named justin rosenstein who made hundreds of millions of dollars working with google and facebook. invented the like thing on facebook so from that he made tens of millions of dollars and he also made money from google

so what are the advantages of paying for things by bitcoin or any other digital currency?

coming up, betting on the bitcoin boom. how much the canadian pound is onlineto revive the currency.

>>> and walmart is getting in on the bitcoin craze, but there is a big-time catch we'll explain on this wednesday, september 12th as "worldwide exchange" begins right now >>> good morning good afternoon good evening from wherever in the world you may be watching. stock futures are up slightly. oil climbing back towards $70 a barrel more on that ahead, but markets taking a back seat to that the monster storm known as florence the category 4 hurricane charging towards the carolinas it could be the strongest storm to hit the region in decades if not ever mandatory evacuations have been ordered up and down the carolina coast. let's bring in caitlin mcgrath with more. >> we got the 5:00 a.m. advisory in it's a category 4 hurricane. sustained winds did weaken a bit, sustained at 130 miles per hour, but it is expected to strengthen heading through the next 48 hours and approach landfall heading towards friday morning. you can see the high resolution satellite imagery. the eyewall has become clouded overnight but it is expected to reorganize let's talk about the track and timing here heading th