↑

The Rich Miser

Living it up for less

  • Richer Living
  • Finances
  • Food & Drink
  • Travel
  • Reviews
  • About
    • Contact Me
    • Blogroll

The Most Important Cryptocurrency News You Need to Know – 5/18/2018

on 5/18/18 by Miguel A. Suro
6 Comments

Well hello there! As y’all may know, I’m passionate about cryptocurrencies. Part of that crypto-fever is to follow crypto news. So, today I want to share with you some of what I think are the most significant stories to come out lately in the crypto universe, and see if I can’t get you fired up, too.

C’mon – you know you wanna go there.

via GIPHY

Without further ado, here’s the news:

Goldman Sachs to Trade Bitcoin

Love it or hate it, Goldman Sachs is probably the most famous and prestigious investment bank in the world. So when Goldman does something, people take notice.

Well, it turns out that Goldman will begin to use its own money to trade contracts linked to Bitcoin. Beyond this first step, it also plans to look into trading Bitcoin directly in the future. Indeed, a Goldman executive told The New York Times that “…Goldman had concluded that Bitcoin is not a fraud…”.

A few days later, the Times also reported that “[s]ome of the biggest names on Wall Street are warming up to Bitcoin…the parent company of the New York Stock Exchange has been working on an online trading platform that would allow large investors to buy and hold Bitcoin”.

Source: The New York Times, here and here.

I think this just continues the trend of increasing adoption of Bitcoin and other cryptocurrencies. First came adult entertainment, and now Wall Street and the banks are starting to get in on the action. In my view, the technology is too groundbreaking to ignore, and I’m convinced it’ll be a part of the future. For example, check out this video on smart contracts (which has some salty language):

Florida County to Accept Crypto as Payment

So now we go from Wall Street to my favorite state (Florida), where Seminole County has announced that it will begin accepting Bitcoin and Bitcoin Cash “…for payments associated with driver licenses and ID cards, automobile tags and titles and property tax”. The Tax Collector “…decided to accept the cryptocurrencies in an effort to streamline fee collection, reduce the potential for fraud and identity theft and increase the transparency and accuracy of payments”.

Source: Coindesk

Again, I think this just points to increased adoption of cryptocurrencies (and by a government, which may lend them an added air of legitimacy), and adds evidence to the notion that this is not some passing trend, but an important part of the future.

Robinhood Expanding Into Crypto

The last item today is the news that stock-trading app Robinhood is expanding into crypto, after receiving $363 million in Series D funding. What caught my eye here is that, unlike crypto-first exchanges like Gemini and Binance (affiliate link)*, Robinhood started out as a stock-trading app. So, the fact that it’s taken new funding to get in on the crypto action signals, as I see it, that it (and its backers) expect continued expansion in this space.

Source: Coindesk

That’s all the news I want to highlight today. To wrap up, I leave you with this amazing video explaining how new technologies like crypto eventually come into mainstream adoption:

 

Friendly Dare: Read this post, and watch the two videos. Then, I dare you to tell me you’re not the least bit excited about crypto!

Disclosure

I believe in and own crypto.


*If you sign up for Binance using my link, I may get paid a commission.

  • Share
  • Tweet
  • Email

Cryptocurrencies, News

About Miguel A. Suro

I'm Miguel A. Suro, a Miami dad, attorney, journalist, and entrepreneur devoted to helping you live well for less. I've been seen on the NY Times, CNBC, NBC News, and more. Get to know us on:

Instagram
Twitter
Facebook

Comments

  1. Tom @ Dividends Diversify says

    May 18, 2018 at 8:00 am

    I’m still on the sidelines in this area, but it’s helpful to stay up to date. Tom

    Reply
    • Erik @ The Mastermind Within says

      May 18, 2018 at 3:01 pm

      I don’t know if you could even get into it in a meaningful way at this point – many banks have cracked down on credit card purchases.. things are getting interesting!

    • The Rich Miser says

      May 19, 2018 at 11:51 am

      Hey Erik,

      Yup, the credit card thing has made it harder. Personally, I transfer money from my bank account to my account at the Gemini exchange (a regulated, New York-based exchange), and use that to buy crypto (they sell Ether, Bitcoin, and soon ZCash). For other altcoins, I transfer Ether to my Binance account, and trade there.

      Cheers,
      Miguel

    • The Rich Miser says

      May 19, 2018 at 11:49 am

      Hey Tom,

      I agree, it’s a rapidly evolving area. Staying up to date is wise 🙂

      Cheers,
      Miguel

  2. Erik @ The Mastermind Within says

    May 18, 2018 at 3:00 pm

    Have you read anything about Nasdaq exploring crypto as well?

    I think Robinhood is HUGE, and also states + local governments being able to accept it is equally as big.

    Great round-up.

    Reply
    • The Rich Miser says

      May 19, 2018 at 11:52 am

      Hey Erik,

      Thanks! I have read something about NASDAQ, and I think it’s another piece of good news for those of us who are into crypto.

      Cheers,
      Miguel

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Be savvy & upgrade your lifestyle.

Greece!

Start by getting our exact secrets to easily save $149+ every month, plus new posts in your inbox.

No spam, unsubscribe any time.

We respect your email privacy

  • Richer Living
  • Finances
  • Food & Drink
  • Travel
  • Reviews
  • About
    • Contact Me
    • Blogroll

Archives

Categories

Lily Rodriguez and Miguel Suro

Meet the Rich Miser

Hey there! I'm Miguel, a lawyer and entrepreneur from Miami. When I'm not practicing law, I look for ways to live it up for the least amount of money possible. I also love nights out on the town, skiing, and being a news junkie. READ MORE
Terms, Conditions, and Disclosures / Privacy Policy / GDPR Privacy Policy / Contact Me / Media Appearances
Copyright ©2023, The Rich Miser. All Rights Reserved.
Design by Pixel Me Designs