MasterCard Expresses Doubts over Bitcoin's Long Term Viability
Global remittance company MasterCard criticized Bitcoin for presenting risks and lacking benefits. The comments came in a 4-page letter that was written in response to the UK government's Call for Information on digital currencies. It questioned digital currency companies over their claims to provide lower transaction costs, saying that their promises will falter soon upon facing additional cost requirements to comply with certain consumer protection and anti-money laundering laws. The letter said something similar about the digital currency system's low payment processing time and....
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Mastercard seems to be between a rock and a hard place. They will never catch Visa in the payments markets, according to the latest global figures, and see a real threat on the horizon in Bitcoin. Why would they spend the last year attacking digital currency in videos, to the Australian Senate, and now in a 4-page written statement? Something wicked this way comes. Something far better, as well. It's called "The Future of Money." You know what your problem is, Bitcoin? Mastercard has been around a long time, since 1979 in its current form and is a global leader in payment services. To....
Galaxy Digital CEO Mike Novogratz doubts the future of dogecoin. The billionaire investor said that “It likely doesn’t have long-term legs because no institution is buying it and at some point, retail will lose interest.” Novogratz Says Dogecoin ‘Doesn’t Have Long-Term Legs’ Michael Novogratz, CEO of Galaxy Digital Holdings Ltd., recently discussed with Goldman Sachs the potential for cryptocurrencies, including dogecoin, and their ability to transform the financial system and beyond. His comments are published in a Goldman Sachs report entitled....
For its long-term viability, decentralized finance cannot be defined by a single blockchain network.
The digital currency ether classic (ETC) surged more than 30% on 29th December, reaching its highest price in over four months. ETC, the signature token of smart contract-based platform Ethereum Classic, rose to as much as $1.46 during the session, a 31.5% increase from the currency’s opening price of $1.11, CoinMarketCap data reveals. Ethereum itself grew by as much as 13.7% today. Ethereum classic also benefited from a sharp increase in transaction activity, as 24-hour trading volume climbed above $7.6m, after falling below $500,000 at some points over the last week. Several market....
Global investment bank Goldman Sachs is questioning whether bitcoin can be a long-term store of value and digital gold. The firm’s analysts cited various issues with the cryptocurrency, such as environmental problems, “lack of real use,” and competition from other cryptocurrencies. Goldman Sachs Sees Problems With Bitcoin as Long-Term Store of Value Goldman Sachs published a note outlining some problems with bitcoin as digital gold on Wednesday. The firm’s analysts, led by its top commodities strategist Jeffrey Currie, have voiced concerns about whether the....