Lightning Speed: How To Take BTC From Reserve Asset To World Reserve Currency
Is the Lightning Network bitcoin’s killer app? It might be, but it still has a long road ahead. One of the stops on that road is the possible inclusion of stablecoins. Does bitcoin need them? Aren’t there inherent counterparty risks with those? The debate over those questions rages on. And in their latest post, The Bitcoin Layer makes the case for this development to be crucial in The Lightning Networks trajectory. Related Reading: An Interview with Ben Caselin on AAX- Lightning Network Integration and TARO Protocol Implementation According to The Bitcoin Layer, “a global capital market....
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On 1st October 2016, the Chinese Yuan became the world's 5th reserve currency. What does it take to become one and can Bitcoin get there? What are reserve currencies? The term reserve currencies today denotes currencies which form part of the International Monetary Fund's SDR (Special Drawing Rights) basket. SDR was created by the IMF in 1969 as a reserve asset, as there was a shortage of existing reserve assets (gold and the US Dollar) to support the expansion of world trade. The currencies which form part of the SDR basket are the US Dollar, Euro, Japanese Yen, Pound Sterling and from....
According to Pavel Kravchenko of DistributedLabs, Bitcoin is not going to be a reserve currency anytime soon. It is mainly due to the hesitation of the banking sector to recognize bitcoin as a currency. Opinions are dime a dozen, as everyone has at least one and sometimes more than one. There is nothing different when it comes to the subject of bitcoin either. There are many conflicting opinions about the digital currency which are casually being tossed, even by those who have never used bitcoin in their life until now. But that doesn’t mean all opinions are a waste of time, or useless.....
The idea of bitcoin as a reserve asset for nations around the world has been floating for years now. While some feel that this is the inevitable end game for bitcoin, it is still left to know what impact this will have on the value of the digital asset if this were to be the […]
Bitcoin is the FED’s new favorite subject. Fresh from the Federal Reserve Bank of St. Louis measuring inflation in BTC terms, comes the Federal Reserve Bank of Cleveland with a study titled “The Lightning Network: Turning Bitcoin into Money.” A thorough investigation that unfortunately only “covers the period January 1, 2017, to September 5, 2019,” […]
As Iran plans to scrap the use of US dollar as reserve currency, there are speculations of it being replaced by Bitcoin. Iran could pave the way for the adoption of Bitcoin as a foreign reserve currency. The reports of Iran moving away from US dollar as the preferred reserve currency in retaliation to the travel ban issued by Trump administration has led to this speculation. Until recently, Iran has been under sanctions for its nuclear program. With the sanctions relaxed last year, there were signs of trade and diplomatic relations between Iran and the United States returning to normalcy.....