Steve Forbes Says Bitcoin’s Fixed Supply Limits Its Ability to ‘Meet the Need...
American publisher Steve Forbes has attacked bitcoin’s fixed supply saying this feature actually curbs the ability of the crypto to “meet the needs of a growing economy.” He also argues that bitcoin cannot replace the dollar because it is presently too volatile to function as money. Forbes insists that money only works best if it has a stable value. New Respectable Investment Class According to Forbes, cryptocurrencies can only challenge existing money if their value is tied to that of gold or the Swiss franc currency. In arguing his case against the idea that bitcoin....
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The American publishing executive, Steve Forbes, recently published a video concerning his thoughts on bitcoin and told viewers that the popular crypto asset is “not yet” the new gold. The business magazine’s editor-in-chief says that bitcoin’s value “remains too volatile,” and he believes the supply cap of 21 million will someday “severely hinder its future usefulness.” There still remains a number of skeptical people in the finance world that believe cryptocurrencies have a long way to go from here. Just recently, Malcolm Stevenson....
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.....
Apple co-founder Steve Wozniak sees bitcoin as mathematical purity, praising its fixed supply. However, he said that governments will never allow it to be out of their control. “If it got to the point where everything is being done in crypto and didn’t pass through governments for observation and taxation and all that, governments would just disallow it,” said the Apple co-founder.
Steve Wozniak Says Governments Will Never Allow Crypto to Be Out of Their Control
Apple co-founder Steve Wozniak talked about cryptocurrency in an interview with Yahoo Finance....
The central bank of Ukraine has adjusted the fixed exchange rate of the national currency in U.S. dollars and introduced stricter limits on hryvnia transactions for citizens. The measures are likely to turn more Ukrainians to cryptocurrencies, according to a representative of the local crypto sector.
War-Time Hryvnia Limits Expected to Increase Interest in Cryptocurrency
The National Bank of Ukraine (NBU) has introduced new rules in response to the changing fundamentals of the country’s economy during an ongoing military conflict with Russia. The monetary authority....
The total illiquid Bitcoin has reached a new high, providing a bullish outlook for the flagship crypto. This refers to the BTC supply that is unlikely to hit the open, given the long-term holding of the investors who own these coins. Bitcoin’s Illiquid Supply Hits New High Glassnode data shows that Bitcoin’s illiquid supply has reached a new high of 14.3 million BTC, marking over 72% of the flagship’s circulating supply. This supply is held by long-term holders (LTHs) who haven’t moved their coins in over seven years, highlighting a strong conviction in the flagship crypto. Related....