Could Blockchain Reawaken Gold’s Role as a Payment?
A research report by Celent has looked at whether or not gold could be brought back as a means of exchange through bitcoin’s underlying technology, the blockchain. The report, Micro Gold: Assessing the Use Case of DLT and Physical Gold, determined that the blockchain could transform the way gold is utilized as a form of currency, delivering the benefits associated with bitcoin. According to senior analyst in Celent’s securities and investment practice, John Dwyer, a currency needs to have three qualities, reports EuroMoney. These are a store of value, a medium of exchange, and a unit of....
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Gold’s price climbed to new all-time highs in mid-October, breaking above $4,000/oz for the first time in history, before eventually reaching a peak of $4,342/oz. The yellow metal’s rally came at a time when BTC was enduring a flash crash that pulled its price down to $101,000 very briefly. This contrast between gold’s strong rise […]
Bitcoin, being referred to as digital gold, is nothing new, as proponents have, for the longest time, expected the digital asset to replicate gold’s growth. Currently, the market cap of gold is more than 20 times that of BTC, but that has not changed the expectations that BTC will eventually be the bigger asset. This […]
Bitcoin appears to be walking a well-worn path, one that gold traced out not long ago. According to an analysis shared by crypto analyst Ted Pillows on the social media platform X, the current price structure of the leading cryptocurrency is closely imitating gold’s trajectory from its accumulation phase through distribution and a breakout rally. […]
In serving as a record for every bitcoin that has been generated and transferred between parties, the blockchain has a critical role to play. Each cryptocurrency has its own blockchain, so it becomes very important to be able to use it correctly in order to maintain its quality and credibility as a value exchange network. For me, I originally sought out blockchain for a project that would transform the online database functionality powering our online invoicing and payment system, which included the directory of users, their staff, and their clients. Because of the complexity of keeping....
With the launch of its new Bitcoin Fund LP, Anthony Scaramucci's SkyBridge Capital makes the case for bitcoin over gold. The post SkyBridge Capital Says That “Bitcoin Is Better At Being Gold Than Gold” appeared first on Bitcoin Magazine.