The next $CEL 100x undervalued Licensed & insured Cefi Lending platform.
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submitted by /u/Enkiduthebeast [link] [comments]
Serious question — do you think crypto’s eventual path to normalization and wide adoption will be that bigger entities like banks (and of course CEX) will be the best long-term storage place? I get that decentralization is the entire point of crypto. But I also think it’s likely that it won’t be used by non-enthusiasts…
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The day has finally come iota staking rewards are now on. It has been a hard ride with exchanges blocking/suspending withdrawals, but even with these problems we have been able to reach 61% of all mirgrated iota getting staked for more stats check here. Luckily I personally was able to get my iota off of…
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Bitcoin has been pitted against gold at various turns since the digital asset started going mainstream. Enthusiasts have finally settled on referring to the former as ‘digital gold’ while continuing to push that bitcoin will replace gold as the default store of value in the coming years. However, not all bitcoin supporters seem to share this school of thought despite the asset’s growth. Billionaire Ray Dalio is a supporter of bitcoin and has been vocal about his support for the digital asset at various times in the past, but it seems that Dalio does not believe that bitcoin will replace gold. In a recent podcast episode with Lex Fridman, the billionaire investor shares some insight into both assets and why he believes bitcoin cannot surpass gold in terms of market cap. Related Reading | By The Numbers: Here’s How Much Bitcoin Michael Saylor Holds $1 Million Bitcoin Is Impossible Talking to Fridman, the billionaire laid out his reasons why bitcoin will be unable to replace gold. He points to the traceability of bitcoin and compared this to gold which he says is untraceable as it is not connected. Furthermore, gold is a universally recognized store of value while only a small percentage of the world is estimated to use bitcoin as an investment and a store of value. He explains that gold still maintains the lead ahead of bitcoin which he does not yet believe will become the apex or the universally accepted form of money. Gold, for one, has been around for thousands of years and is still an accepted form of money or store of value. BTC falls to $49K | Source: BTCUSD on TradingView.com For the reasons that he outlined, Dalio does not believe that bitcoin will ever be able to surpass gold. Furthermore, he explains that he does not believe that bitcoin will reach the price page of $1 million which some bitcoin maximalists have pushed in recent times. Still A Strong Contender For Gold Dalio did not completely dismiss how valuable bitcoin is though. The billionaire lauded bitcoin by proclaiming that the digital asset has proved itself despite not being able to serve as a currency due to its volatility. The digital asset has proven to be a safe way to invest as it has never been hacked and continues to operate according to its original programming. Related Reading | Billionaire Ricardo Salinas: Forget Fiat, Buy Bitcoin Bitcoin Instead “It has proven itself. It has not been hacked, it has operated in an amazing way over that 11 years to be probably the most exciting topic among a lot of people,” said Dalio. ”It has been used and is now obtained the status of having imputed value.” The billionaire also revealed that bitcoin ranked highly on his list of assets that he considers to be strong competitors for gold. He still maintains that gold is still his favorite investment but has not written off bitcoin from the running either. A few months ago, Dalio had revealed that he held a small portion of holdings in bitcoin, and had added ethereum to his stash too. Featured image from Bitcoin News, chart from TradingView.com
According to data recorded on December 28, there’s approximately 434,265.43 bitcoin-pegged or wrapped bitcoin tokens worth more than $21.3 billion across several blockchains. Ten different bitcoin-pegged projects exist today and the project Wrapped Bitcoin dominates 59.66% of all the tokenized bitcoin in circulation. Close to a Half Million Tokenized Bitcoin Circulates on Several Blockchains, Wrapped […]
What will 2022 bring for the world of crypto? You have to ask yourself are we going to see another crypto winter, remember these types of post were around in the last crash. I would say with all I’ve learnt from crypto 2021 never not buy a meme coin because of the joke. Doge has…
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I don’t get why traditional banks are so afraid of cryptocurrency’s innovation. I think they should consider it as motivation to better their services and give people who use their banks a better opportunity to control their finances. People’s buying power declines by default. Fiat money stored in banks is tied to the monetary system,…
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You can not make this up: The judge surprisingly did not appear on a trial day originally planned for Thursday. Prior to this, the national currency had once again fallen to a record low – even lower than the economists predicted three years ago What is the reaction of Turkeys president? Blame Crypto Draft anti-Crypto…
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Seriously. I don't want to point fingers at a specific post, but I'm inspired by this one, titled "Finally an article in a mainstream magazine on the positives of crypto". The thing is: articles from mainstream media that are positive on crypto are posted here every day, often with a similar title. Why do people…
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