Steve Wozniak, Apple co-founder, wants to see Bitcoin as the single global currency, echoing comments made by Twitter CEO Jack Dorsey recently.”I buy into what Jack Dorsey says, not that I necessarily believe it’s going to happen, but because I want it to be that way, that is so pure thinking,” Wozniak told CNBC on the sidelines of a financial conference in Amsterdam, Netherlands.Bitcoin will become the global currency for payments after overtaking the dollar’s dominant place within a decade, Dorsey had said in March in an interview to the UK’s Times newspaper.In May, however, Dorsey said the internet was set to have a native currency. He was unsure if it would be Bitcoin, but hoped it would be so.
According to Grayscale CEO Barry Silbert, the addition of McDonald to the team could help the firm to expand its reach as digital asset ETFs continue to become increasingly common and popular. Silbert explained that McDonald brings “a wealth of knowledge and experience managing ETFs and other complex financial instruments” to her new role, adding that “she will play a critical role for Grayscale as digital currencies continue to grow as an asset class for institutional and individual investors,” according to a report by PRNewsWire.com.
Grayscale is perhaps best known as the provider of single-asset and diversified investment products, most notably Bitcoin Investment Trust (GBTC), the first publicly-quoted instrument which was solely invested in bitcoin.
After years of conceptualization and development, the first Lightning implementations are now in beta. As a result, more nodes are appearing online every day, a growing number of users are opening channels with one another, and some merchants even started to accept Lightning payments.
But of course, these are still the very early days of theLightning Network. While the main implementations are usable and some wallets and other applications are available, Bitcoin’s overlay payment network is projected to improve over the next few years in areas ranging from network architecture to security and usability, and more.
These are some of the more important Lightning projects currently in development.
Goldman Sachs is moving ahead with plans to open the first bitcoin trading firm of any Wall Street bank and other banks will likely follow, said Spencer Bogart, a partner at Blockchain Capital.
“That’s what a lot of banks do, follow what Goldman does,” the blockchain venture capitalist told CNBC on Thursday.
“Most of these banks have heard about the numbers or seen the numbers that companies like Coinbase and Binance are putting up,” Bogart said on “Fast Money.” “There’s a real risk that some of those companies could overtake some of Wall Street’s biggest banks if they don’t get in the market.”
“Enough is enough,” says one high-profile British entrepreneur, who is taking social media giant Facebook Inc. (FB FB Facebook Inc 174.16 +9.06%) to court in a crusading defamation case. Martin Lewis, a popular U.K. personal finance guru, wrote in a press release that within the last year the Silicon Valley platform had published more than 50 scam advertisements using his name and image to deceive people. (See also: Already More ICOs in 2018 Than All of 2017: $6.3B.)
Lewis, who runs the popular consumer finance site MoneySavingExpert.com and is host of ITV’s “The Martin Lewis Show,” says he has been “fighting for over a year to stop Facebook letting scammers use my name and face to rip off vulnerable people—yet it continues. I feel sick each time I hear of another victim being conned because of trust they wrongly thought they were placing in me. One lady had over £100,000 taken from her.” Lewis said many of the ads were running “get rich quick” schemes, with titles such as “Bitcoin code” or “Cloud trader.”
Anyone with an eye for an investment will be closely following the fortunes of cryptocurrencies, and Bitcoin in particular. Although their surge in value has been a tempting lure for short-term speculators, attention has recently been shifting to the possibility…
Bitcoin was envisaged as a payments system and so it was natural, long before the store of value notion emerged, that comparisons would be made with existing global payment systems. Bitcoin’s early adopters knew that if the technology took off, some time in the future it would need to handle magnitudes more transactions per second than the 7 it could muster. Someone mentioned Visa with their magical 24k per second, and it’s stuck ever since.
Only that figure isn’t entirely accurate. In fact it’s not even remotely accurate. In reality, Visa processes around 1,700 transactions per second, a figure it rarely exceeds. The larger number is the one that Visa claims, and it’s the one that’s usually referenced in comparison to bitcoin and every other blockchain. In theory Visa should be able to handle that volume – in fact it’s been reported that its servers can handle as much as 56k tps – but that’s all theoretical, much like the claimed throughput of new blockchains that can operate at the speed of light in the lab, but significantly worse in the wild. There’s a big difference between operating a testnet on a bunch of Amazon servers and a mainnet distributed around the globe.
Bitcoin investors can all be categorized into three distinct groups, Barclays says.
As part of the bank’s comparison between the crypto craze and the spread of infectious disease, a team of analysts led by Joseph Abate says both viral phenomenons lump people into three unique categories:
“Like the infection analogy, the population divides into three groups: ‘susceptible’ individuals who are vulnerable but not yet infected; ‘infected’ individuals; and those who are ‘immune.,'” the report said. “Also like infection, transmission – especially to those with ‘fear of missing out’ – is by word-of-month, via blogs, news reports and personal anecdotes.”
BTC Monday Market Analysis
So what happens if your employees start asking to be paid in Bitcoin instead of your country’s national currency? While you’re unlikely to have a critical mass of employees begging for Bitcoins yet, it’s already starting to happen and you want to consider the norms of tomorrow. Here’s what you need to know, so that when the future comes, it won’t take you by surprise.