Experts to CNBC: US Dollar, Not Bitcoin, is the Future Digital Currency
The world already has a digital currency, a group of experts told CNBC: the US dollar. CNBC sought comments and opinions from market analysts such as ConvergEx's chief market strategist, Nicholas Colas, as part of a CNBC 25 special report on the future of money. In the piece, authored by Ted Kemp, Colas and others argued that the USD possesses many of the strengths associated with bitcoin. He said: "The $100 bill is the world's bitcoin. It's anonymous. It's easy to use. It's actually easier than bitcoin, because you don't need a computer or even power." Money is already digital. One of the....
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The world has relied on the US Dollar as a reserve currency for decades now, needless to say that it is one of the world’s strongest currencies. As far as Bitcoin and its potential prevalence are concerned, many experts believe that the digital currency could threaten the global supremacy of dollar. It is no news that […]
The future could be one wherein the Australian dollar could cease to exist through physical notes and coins to become digital instead. In a recent speech given by Tony Richards, head of the Reserve Bank of Australia (RBA)’s payments policy department, he revealed that the RBA had kept a watchful eye on the growth in demand for digital currencies such as Bitcoin, to speculate and believe that Australia will, in the future, have a central-bank-issued digital currency. In a report by the Sydney Morning Herald today, the RBA sees a future wherein digital dollars will circulate and co-exist....
The Nigerian currency appeared to accelerate its decline versus the U.S. dollar after it slipped to a new low of 900 naira for every dollar. The currency has continued to depreciate even after the Economic and Financial Crimes Commission’s raid on suspected illegal foreign exchange dealers. Continuing U.S. Dollar Shortages Following the Oct. 27 announcement by the Central Bank of Nigeria (CBN) that intends to put into circulation newly designed naira banknotes, the local currency’s parallel market exchange rate versus the dollar has slipped by almost 20%. From an exchange rate of....
But over the past few weeks, and ever since April really, the U.S. dollar has been in a steep decline. Many in the cryptocurrency space and in the broader investment world see this as a win for alternative currencies such as gold and even Bitcoin. CNBC Runs Segment About Dollar Drop, Effect on Bitcoin While all eyes have been on Bitcoin over recent weeks, more and more investors in the space are taking notice of […]
A group of bitcoin experts will be convening in Bretton Woods to discuss current cryptocurrency trends and where it might be in the future. Among this panel are Victoria van Eyk, ChangeTip's vice president of community development, Jinyoung Lee Englund from the Digital Currency Council, and Michael Casey, senior adviser at the Digital Currency Initiative at MIT Media Lab. The group will spend three days in discussions to come up with a document that explains what bitcoin is, what parts of the economy it could potentially change, and what the roadblocks to that change could be. Future of....