Beyond Bitcoin: How Stable Are Alternative Cryptocurrencies?
Cryptocurrency allows immunity from interjections and the handling of central banks. It gives us freedom of our economic management. CoinTelegraph talked to Pascal H. Hamonic, a core member of Nu (NuBits), decentralized startup in peer-to-peer banking, Petros Anagnostou, Chief Marketing Officer, and Mourad Ilyes Mlik, IT Engineer, of CreditBit, an open source software project released under the MIT/X11 license, about alternative cryptocurrencies and fintech innovations. Cryptocurrency compared to fiat is neither stored nor checked by central banks or governments. You possess all your....
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As the title suggests, this week has been stable for the most part. Take the world stable with several grains of salt, as stable in cryptocurrency is still volatile for most people to stomach when they have been used to the relative stability of the dollar and people in precious metals. For example, let’s take a look at some of the more recognizable cryptocurrencies such as Litecoin and Darkcoin. Litecoin has stayed in the $5 range, with volume staying around the $2.5 million mark. With a market cap that Litecoin possess, I fully expect Litecoin to recover from the downward trend it has....
The governor of the Jamaican central bank has warned people using or who have plans to use cryptocurrencies to be mindful of the associated risks. The governor added that cryptocurrencies’ unpredictability means they cannot function as a medium of exchange.
Not Stable Enough to Be Good Means of Payment
The governor of the Bank of Jamaica, Richard Byles, has cautioned those using or planning to use cryptocurrencies to be mindful of the unpredictable nature of the assets. Byles also said he considers cryptocurrency an investment instrument rather than a medium of exchange....
Alternative cryptocurrencies, like Litecoin, Primecoin and PPCoin, have gotten a significant amount of bad press recently. Lead Bitcoin developer Gavin Andresen wrote an article criticizing altcoins as being a way of getting around Bitcoin's 21 million currency supply limit and "getting back to an 'inflate on demand' world" and, more recently, Daniel Krawisz from The Mises Circle wrote a lengthy post entitled "The Problem with Altcoins", raising many other concerns. Krawisz's arguments received a substantial amount of support from the Bitcoin community, showing that there are many Bitcoin....
Cryptocurrencies can be a good alternative to conventional settlement processes because they are underpinned by blockchain technology which enables the instant finalization of transactions without the involvement of intermediaries, a new report has said. Some players in the cross-border money transfer industry perceive the blockchain and cryptocurrencies as technologies that can enhance remittance processes. Cryptocurrencies Eliminate Expensive Practices for Remittance Providers Using cryptocurrencies for the settlement of transactions can be a useful “alternative to traditional....
Iran’s association of importers has stressed the need for a stable regulatory framework for cryptocurrencies now that the Iranian government is officially using crypto to pay for imports. “By the end of September, the use of cryptocurrencies and smart contracts will be widespread in foreign trade with target countries,” a government official said. Imports Association: Iran Needs Stable Crypto Regulation Alireza Managhebi, the chairman of Iran’s Importers Group and Representatives of Foreign Companies (Imports Association), voiced concerns about the....