Unlike Fiat, Bitcoin Isn’t Meant for Everyone
Bitcoin is different from fiat currency but some fail to understand it. Tiyo Triyanto makes an attempt to clear the confusion with his latest blog post. There is so much hype about cryptocurrencies at the moment, but some of them are for all the wrong reasons. Bitcoin is hailed as the future of the economy, at the same time there are complaints about its sustainability and volatility. Tiyo Triyanto, an Indonesian entrepreneur rightly says that Bitcoin is not for everyone in his recent blog post. Tiyo Triyanto, an Indonesian entrepreneur currently with BitX makes a list of people who should....
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While bitcoin has been dubbed as the worst investment for last year, many enthusiasts still believe that the cryptocurrency can surpass fiat currencies as the main mode of payment around the world. Its scarcity and the use of the blockchain are its defining features but it could also be it source of weakness. Can bitcoin really replace the U. S. dollar or other currencies at some point? Fiat currencies draw their value from being backed by assets or by central banks. In contrast, bitcoin draws its value from scarcity in that there are only a limited number available in circulation or from....
Bitcoin is known as the digital gold. In the recent days, many online bullion platforms have started accepting bitcoin payments to purchase gold. Bitcoin is dubbed as the digital gold. Bitcoin is a decentralized open source digital currency which operates independently without the interference of banking or financial institutions. Unlike traditional fiat currency, Bitcoin doesn’t need a trusted party to facilitate transactions as the members of the network themselves act like one. Bitcoin and Gold have many similarities. They both hold a unique position of being an alternative investment....
The bitcoin-fiat exchange market has exploded over the last year, but it isn’t alone. In 2015, amid currency swings in the Russian ruble and the Euro among others, an increasing number of traders are looking to gold as a natural fit for their bitcoin holdings. The debate surrounding the relative merits of bitcoin and gold as a store of value has been passively continuing since the first trading options appeared several years ago. On paper, the similarities between the two assets are easy to see: a finite amount, almost infinite divisibility into smaller amounts, a mining process to make....
Bitcoin suffered a devastating blow on Black Thursday alongside the rest of the financial world. But unlike other assets, the top cryptocurrency has grown enormously since, and become the best performing asset of 2020 bar none. Emergency assistance checks dispatched to American taxpayers meant to stimulate economic activity only served to stimulate Bitcoin’s bullish momentum, […]
A senior Bank of Japan (BoJ) official has stated that bitcoin and other Fintech innovation isn’t a threat to the fiat money central banks print. According to Hiromi Yamaoka, head of the BoJ’s payment and settlement systems department, central banks need to maintain the public’s trust. This is because the growth of FinTech provides people with a substitute to cash, reports Reuters. This year, Hiroshi Nakaso, the deputy governor of the BoJ, stated that central banks would have to watch the progress and developments relating to bitcoin and blockchain. In a speech, he stated that the financial....