Bitcoin Now Larger Than Facebook’s Market Cap — ‘Money Network More Valuable ...
The surge in bitcoin’s price on Friday has propelled the cryptocurrency past Facebook’s market cap. Next, bitcoin stands to flip Tesla, Google, Amazon, Microsoft, and then Apple. Bitcoin Surpasses Facebook in Market Cap Bitcoin’s frequent rise past all-time highs this week has made the size of the cryptocurrency larger than Mark Zuckerberg’s Facebook. The price of bitcoin broke another all-time high early Friday morning, reaching $41,970. At the time of writing, BTC stands at $41,147; its market cap is about $770 billion while Facebook’s market cap is....
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In the wake of falling bitcoin prices, critics are asking a familiar question, "What makes a bitcoin valuable?" There is a misconception that the Bitcoin Blockchain can be separated from bitcoin the currency, individual units representing a portion of the Bitcoin network. If a Bitcoin was worth $0, then a Bitcoin miner has no incentive to allocate their computing power to the Bitcoin network. The incentive for allocating computing power to process Bitcoin transactions is a payout in Bitcoin, collected via transaction fees or block rewards and distributed proportionally based on computing....
Recently, Facebook revealed through its newsroom that global government requests in the first half of 2016 for personal user information increased by 27% globally, from 46,710 to 59,229 requests. The total government requests for Facebook user data are set to surpass 100,000 by the end of 2016. The sheer amount of data requests demanded by authorities suggests that Facebook’s money transmission or P2P networks are not optimal for user privacy and security. Facebook stated: “Government requests for account data increased by 27% globally compared to the last half of 2015, increasing from....
Stablecoins are an integral part of the future of the financial system. And Facebook’s Diem, formerly Libra, is part of that future. Facebook, it is reported, could launch its long-awaited digital currency as early as January 2021 in the form of a U.S. dollar-backed stablecoin. Central banks and regulators have been galvanized into action since Facebook first announced its intentions by publishing a white paper in 2019. They are right to be concerned, as stablecoins — particularly ones such as the rebranded Diem that have the potential for massive network effects — bring new risks to....
From price volatility to becoming the most valuable U.S. exchange, here is how well Coinbase’s first day of trading tracks with other companies. American crypto exchange giant Coinbase went public on Wednesday with a direct listing on Nasdaq.The company’s performance on day one has been hailed as being positive overall, with Coinbase becoming the most valuable exchange in the United States ahead of legacy players such as the Chicago Mercantile Exchange.Coinbase’s first day of trading was seen by market commentators as a watershed moment for the crypto space, but how does its performance....
There are two big questions on everyone’s lips now: What exactly is Facebook’s Diem, and what it will offer its potential 2 billion users? The year 2021 seems to be a big year for the blockchain world as several projects, such as nonfungible tokens (NFTs) and centralized decentralized finance exchanges (CeDeFis), are taking the central stage. Also at the forefront is Facebook’s Libra.Not too long ago, the media was rife with the news that the world’s largest social media network was developing plans for a global digital currency. Then, after a while, it looked like Facebook shelved plans....