the worlds largest trade association in the space. While how to get untraceable bitcoin addressing the assembled group of central bankers, he reportedly spoke about the characteristics of blockchain technology. SegWit is itself a great technology, but the reason it hasnt taken off is because its interest doesnt align with miners, Wu said. Related: Federal Reserve, buoyed by stronger economy, lifts rates again. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. Janet Yellen, the Chair of the Board of Governors of the Fed Reserve, urged her fellow central bankers to study new innovation in the financial industry. A recent event in Washington attended by representatives from over 90 central banks had Federal Reserve Chairwoman Janet Yellen encourage her counterparts to study emerging technologies, specifically mentioning bitcoin and the blockchain. That's right: It's Jobs, jobs, jobs. Chris Coney, host of the Cryptoverse podcast, featured the photobombing as the main topic in his daily podcast. 3.6k, online, a community dedicated to Bitcoin, the currency of the Internet. She outlined the reason in a statement that said: We believe blockchain technologies are capable of providing the Fed and other regulators with next generation tools to fulfill their mission of monitoring the safety and soundness of the financial system more effectively.
The Fed declined to comment. "The fact that the words bitcoin and blockchain were spoken by chairwoman Yellen in a positive context highlights the importance of emerging financial technology said Perianne Boring, president of the Chamber. On July 21, the bitcoin core development team will release its SegWit2x proposal.
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That proposal is what is known as SegWit2x, which implements SegWit and doubles the block size limit. Support our journalists today. The moment provided a moment of levity for the bitcoin community, which is facing a day of reckoning that could ultimately split the network in two. Bloomberg goes into more detail about the conflict here: Behind the conflict is an ideological split about bitcoins rightful identity. Not surprisingly, Cores proposal, called SegWit, has garnered resistance from miners, the most vocal being Wu Jihan, co-founder of the worlds largest mining organization Antpool. Janet Yellen on Wednesday called the cryptocurrency a "highly speculative asset." "It is not a stable source of value, and it doesn't constitute legal tender she told reporters at her last press conference as leader of the central bank. The currency's value has fluctuated by thousands of dollars in less than a day. The Nasdaq will debut the option next year. As a result, transaction times and processing fees have soared to record levels this year, curtailing bitcoins ability to process payments with the same efficiency as services like Visa Inc. That means investors can place bet on whether it will rise or fall in coming months. Yellen has, in a stance that benefits bitcoin and blockchain innovation, stated that the Fed Reserve does not have the authority to regulate the cryptocurrency. The theme of this years conference was on bitcoins underlying technology blockchain and the FinTech sector.