#1 Source For Bitcoin And Altcoin News
Netflix reported its first decline in U.S. subscribers in more than eight years yesterday, losing 126,000 subscribers while analysts were expecting an increase of 350,000. The stock tanked by more than 10 percent today. Big Subscriber Loss = Big Valuation Loss The miss freaked out Netflix investors, lopping $ 17 billion off Netflix’s still-insane valuation of […]
The post Netflix Loses $ 17 Billion in Value; That’s $ 135K Per Lost Subscriber appeared first on CCN Markets
The U.S. Treasury Department has just issued an urgent letter requesting a lift on the debt ceiling, warning Congress of imminent financial collision in September as federal cash is running out. Though this scenario has played out many times before, it takes on special significance now in light of president Trump’s recent comments about bitcoin, saying it was created from “thin air,” and a congressional warning to Facebook regarding their Libra project. After all, to raise the debt ceiling and keep paying bills with borrowed USD is creating value out of thin air as well. Intrinsic value is nowhere to be found here. Not surprising when it comes to fiat perhaps, but diamonds and gold don’t make the cut, either.
One of the primary arguments in favor of bitcoin is that it is a “store of value.” It makes sense on the surface, but when one digs into the meat of this claim, it comes up with less beef than a Beyond Meat burger. Evaluating Bitcoin as an Investment Commodity The category of “investment commodity” […]
The post Your Old Baseball Cards Are a Better Store of Value Than Bitcoin appeared first on CCN Markets
There’s been furious debate over the last few years on whether or not Satoshi created Bitcoin to be a peer-to-peer cash system or a purpose-built store of value. Lately, a few BTC proponents claim that Satoshi deliberately built Bitcoin to be a store of value (SoV). Despite the SoV narrative, the cofounder of OB1, Samuel Patt, wrote an in-depth research report uncovering nearly “everything Satoshi ever wrote,” which makes him firmly believe Satoshi’s invention was really “built for payments.”
Also read: Bitcoin.com’s Local Bitcoin Cash Marketplace Is Now Open for Trading
A series of op eds by Kyle Torpey addressing some of the oft-repeated arguments against Bitcoin.
One of the earliest criticisms of Bitcoin was that the underlying token in the system had no intrinsic value. This point was an area of heavy debate among libertarians and Austrian economists who had become interested in bitcoin as a potential digital alternative to gold in the early stages of the crypto asset’s development.
Much of the debate revolved around Austrian school economist Ludwig Von Mises’ regression theorem, which claims non-monetary use cases as a prerequisite for any good to become a money.
Over the last few years, many have claimed that bitcoin core (BTC) has turned into, or will soon become, a store of value (SoV). Proponents of the BTC-based SoV theory seem to think that money can somehow store value and if it’s held long enough, the price will be higher or predictably useful when spent at a later date. This is an economic fallacy however because money cannot store value and, as innovative as bitcoin is, it will never be immune to market influences.
Also Read: Memo Is a Decentralized Social Network Built on Bitcoin Cash
![[Guest Post] AI at a Crossroads - Unlocking the value of data, without unlocking the data itself](http://digitalmoneytimes.com/wp-content/uploads/2019/04/Trent_McConaghy.jpg "Trent McConaghy")
The post [Guest Post] AI at a Crossroads – Unlocking the value of data, without unlocking the data itself appeared first on CoinReport.
Brendan Blumer, the CEO and co-founder of Block.One, the company behind EOS (EOS), believes that Bitcoin (BTC) is set to replace gold as the standard store of value over the next two decades, according to a recent tweet. Over the next two decades, #Bitcoin will replace #gold as the leading commodity to store value — […]
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Billionaire investor and philanthropist Warren Buffett again shared some choice words about Bitcoin (BTC) and digital currencies on Monday. During an interview with CNBC’s Becky Quick, Buffett doubled down on his anti-crypto position, saying “Bitcoin has no unique value at all. It doesn’t produce anything. You can stare at it all day and no little […]
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NASDAQ is planning to add new, third-party liquid indices, specifically tied to the value of bitcoin and ether.
Details were released on affiliate site nasdaqtrader.com, a domain name owned by The Nasdaq, Inc. The site claims that the two indices “are each designed to provide a real-time spot or reference rate for the price of 1 BTC and 1 ETH respectively, quoted in USD.” To determine the most accurate possible value for these indices, the relative value of the BTC index “has been calculated back to 2010” and ETH to 2014.
A report recently published by Diar has estimated that nearly $ 15.42 billion of value was added to the market capitalization of the combined cryptocurrency markets in the form of newly created tokens and crypto asset inflation during 2018.
Also Read: Bitcoin Climbs up China’s First Crypto Ranking of 2019
According to Diar’s report, new crypto asset value created during 2018 is estimated to comprise more than 12 percent of the current combined cryptocurrency market cap.
By CCN.com: A report by JPMorgan suggests that for over four weeks during the fourth quarter, bitcoin’s market price was lower than its mining costs on average. According to the JPMorgan analysts, the cost of mining bitcoin during Q4 was averaging about $ 4,060 around the world, Bloomberg reports. According to them, starting late November when the
The post JPMorgan Takes Another Shot at Bitcoin, Claims Mining Isn’t Worth the Value of the Cryptocurrency appeared first on CCN
Venture capitalist Lou Kerner says bitcoin is well on its way to replacing gold as the dominant store of value, noting that its market cap has already surpassed that of silver. “What [bitcoin] has evolved into is a store of value,” Kerner told Bloomberg. “Today, the main store of value is gold. It’s an $ 8 trillion
The post Bitcoin on Track to Replace Gold as Dominant Store of Value: Crypto VC appeared first on CCN
According to a new paper published in a peer-reviewed scientific journal, researchers in China have made a groundbreaking discovery that could profoundly impact the face of the precious metals landscape — and provide bitcoin with an opportunity to shine. Scientists Turn Copper into Substance ‘Almost Identical’ to Gold Per SCMP, a team of scientists at
The post Scientists Turn Copper into ‘Gold’ — Will Bitcoin Replace as Store of Value? appeared first on CCN
Tom Lee, the co-founder of market strategy firm Fundstrat Global and serial CNBC contributor, believes that the fair value of Bitcoin (BTC) is between $ 13,800 and $ 14,800, or roughly 4.2x higher than its current value. As detailed in a recent report by Bloomberg, Lee published a letter to investors on Thursday stating that the number of active wallet addresses, […]
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Abu Dhabi National Oil Company (ADNOC) has partnered with IBM to pilot blockchain-based transaction management for its commodities right from the oil wells through to its end customers. The automated, blockchain-based, system will encompass oil and gas production management for ADNOC’s entire value chain including tracking, validating, and executing, transactions. As with many blockchain pilots,
The post Abu Dhabi National Oil Company Partners IBM to Pilot Blockchain Across its Value Chain appeared first on CCN
Nicolas Maduro’s move to increase the price of the petro, the country’s oil-backed cryptocurrency designed to counter inflation, has sparked intense debate. Experts and tech-savvy Venezuelans alike are less than enthusiastic about the Venezuelan president’s decision.
Also read: Maduro Orders Price of Venezuela’s ‘Cryptocurrency’ to More Than Double
Venezuelans have blasted President Nicolas Maduro and his new cryptocurrency after the leader of Venezuela upped the petro’s price last week. A number of Venezuelans and experts told news.Bitcoin.com that the idea of a petroleum-backed cryptocurrency was a bad idea from the start and that the government never truly had any idea what it was doing – with one even saying that it was just a trick to launder the government’s dirty money.
The global chief economist of Swiss financial giant UBS, Paul Donovan, has reiterated his position that cryptocurrencies have no ‘future’. Speaking to business channel CNBC, Donovan said that cryptocurrencies are flawed and will never go mainstream. According to Donovan, from the time bitcoin and other cryptocurrencies started rallying to stratospheric levels towards the end of
The post Flawed Cryptocurrencies Will Never be a Store of Value, Claims UBS’ Chief Economist appeared first on CCN
With a daily transaction volume of over $ 8 billion, Bitcoin (BTC) is on track to overtake Mastercard, the second largest credit card network in the world, in volume. On October 30, Mastercard released its financial results of the third quarter of 2018. Year-to-date, the credit card company has processed around $ 4.4 trillion. On a daily
The post Big Milestone: Bitcoin on Track to Transfer More Value Than Mastercard Daily appeared first on CCN
In the past seven days, the valuation of the crypto market dropped from $ 184 billion to $ 138 billion, by more than $ 46 billion. The cryptocurrency market experienced one of the worst weekly sell-offs in all of 2018, and the prices of major digital assets like Bitcoin have dropped by around 75 percent to 85 percent
The post Investor: Value of Crypto Dropped, But Ecosystem and Industry are Growing Rapidly appeared first on CCN
