The founder of Digiconomist, Alex de Vries, predicts that, in the long run, the cost of mining a Bitcoin will rise to the price of a Bitcoin. de Vries was referring to economic theory, which states competition will drive profits down over time.de Vries, whose website studies the consequences of digital trends from an economic perspective, says, under this scenario, competitive … [Read more...] about Economist claims a $500,000 Bitcoin would be disastrous for CO2 emissions
Economist
Blockchain not suitable for CBDC, says Swiss national bank economist
Blockchain, the underlying technology of cryptocurrencies like Bitcoin (BTC), is not the right solution for a central bank digital currency, according to an economist at Switzerland’s central bank.Carlos Lenz, chief economist at the Swiss National Bank, argued that blockchain-based decentralization features are not efficient for a state-controlled digital currencies like a … [Read more...] about Blockchain not suitable for CBDC, says Swiss national bank economist
Economist Steve Hanke Warns Salvadoran Bitcoin Adoption Could ‘Completely Collapse the Economy’
The professor of applied economics at Johns Hopkins University, Steve Hanke, has recently been criticizing bitcoin adoption taking place in El Salvador. Hanke doesn’t think it’s a good idea for the Latin American country to use bitcoin as legal tender and says it could “completely collapse the economy.” Steve Hanke Wants Countries to Adopt Currency Boards Instead of Gravitating … [Read more...] about Economist Steve Hanke Warns Salvadoran Bitcoin Adoption Could ‘Completely Collapse the Economy’
Economist says El Salvador ‘on road to death’, salaries paid in e-CNY …
Our Man in Shanghai has refused to let recent regulations slow down the news coming from China. Enterprise blockchain, central bank digital currencies and start up projects continue to make a positive impact in a region hoping to grow economic value through technology.Death march for El SalvadorThe debate around El Salvador continued this week as media and officials tried to … [Read more...] about Economist says El Salvador ‘on road to death’, salaries paid in e-CNY …
Economist Intelligence Unit’s report shows trends behind the increased acceptance of cryptocurrencies
While cryptocurrency has been around for quite some time now, a stratospheric rise in its use has materialized over the last year, primarily due to the pandemic. As more and more businesses are readily accepting digital currency as payment for goods and services, the number of crypto transactions has risen by a huge margin.The increased use of crypto due to COVID-19To … [Read more...] about Economist Intelligence Unit’s report shows trends behind the increased acceptance of cryptocurrencies