World-Class Economist Calls Out Flaw In MicroStrategy’s Bitcoin Bet, Says ‘De...
MicroStrategy, a publicly traded business intelligence company, is facing new heat as world-class economist Peter Schiff unleashes a blistering takedown of the firm’s all-in Bitcoin (BTC) bet. As the price of Bitcoin slides below key levels, Schiff has warned that MicroStrategy’s model cannot sustain itself, arguing that a critical flaw could push the company into […]
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A chief economist at UBS, the largest bank in Switzerland, says cryptocurrency has a fundamental flaw. Bitcoin’s fixed supply could cause the collapse of its value and spending power, making it unattractive to use as a currency, he claims. A UBS Chief Economist Says Bitcoin’s Fixed Supply Is a ‘Fundamental Flaw’ Paul Donovan, Chief Economist of UBS Global Wealth Management, explained last week why people won’t want to use bitcoin as a currency. UBS is the largest bank in Switzerland. “The debate about bitcoin and other crypto tends to be very passionate.....
An economist with the Bank of International Settlements has found that cryptocurrencies are not sought as an alternative to fiat currencies or regulated finance, therefore a “technology-neutral regulation to this asset class” is recommended. The economist discussed “embedded supervision,” adding that “The main aim is low-cost supervision of decentralized markets.” BIS Economist Suggests Regulatory Approach for Cryptocurrencies The Bank of International Settlements (BIS) published a working paper Thursday on “The socioeconomic drivers of US....
Here is a reality check for all the Bitcoin naysayers, the most widely used conventional electronic payment system – credit/debit cards are not really as secure as we had earlier thought. A serious protocol level flaw exposed by a couple of German security experts bares it all. It is not just the security flaw one has to be concerned about, but also the banks’ apathy towards fixing it! A recent report carried by well-known Russian media channel, Russia Today describes the serious security flaw in POS terminals. According to Karsten Nohl, one of the security experts from the Berlin based....
"So Bitcoin isn't a currency. It is [by the way] a Ponzi game and a conduit for criminal/illegal activities. And it isn't safe given hacking of it." So said US economist Nouriel Roubini in a spate of heavily critical comments aimed at the cryptocurrency and its advocates via Twitter on Sunday (9th March). Roubini, who lectures at the Stern School of Business and heads an economic consultancy firm, has earned himself the nickname 'Dr Doom' for his often gloomy economic outlooks. However, he is not a man to be ignored. Roubini famously predicted the US housing market crash of 2006 and the....
MicroStrategy’s ongoing “Bitcoin Acquisition Strategy” sees it continue to take on debt to buy more BTC. Why do investors remain excited? The post Why Investors Are So Excited About MicroStrategy’s Bitcoin Acquisition Plan appeared first on Bitcoin Magazine.