In addition to supplementing the investment demand for gold, Bitcoin can also indirectly cover a wider store of value market. For example, consider those who hold fiat currencies (such as Argentine pesos or Turkish lira) that have reduced credibility. They may have difficulty acquiring dollars or gold. Or consider collections such as various artworks or gems, some ofBitcoin prices in China which are primarily owned as value stores. Or consider some empty apartments in New York, whose owners are to store assets outside the home country. Bitcoin can cover these behavior subsets more effectively and reasonably.
The BlockchainLuxembourgSA report also found that the United States and Europe are the most popular locations for various stablecoin project teams. Currently, there are 19 such project teams in the United States and 13 in Europe. In Europe, Switzerland is the most popular location with 5 projects there, followed by the United Kingdom with 3 projects.
Coinbase announced on August 12 that it will provide bitcoin-backed loans to US retail users this fall. Users can use up to 30% of their Bitcoin holdings as collateral to borrow legal loans. The exchange is setting conservative parameters for the product, limiting the credit limit to US$20,000 per customer, and offering an interest rate of 8%, and the loan term will be one year or less. At launch, Coinbase plans to support 17 states.
Antonopoulos: Well, not yet. The maturity level of cryptocurrency technology has not yet reached the requirements for use in developed countries. But having said that, if you study the correlation of countries experiencing currency crises, you will find that most developers in history have faced currency crises every 15 or 20 years. Therefore, although it is mainly for emerging markets, it is a huge application value for the cryptocurrency market.
Pye said: If a 30-year-old can save an average of $000 a year, which is your contribution to the TFSA, it is incredible, because most people can't save $500 a month. If they buy $500 in tax-free Bitcoin from their TFSA every month, if Bitcoin can survive 10 years later, it will be an amazing amount of money and change their lives.
At present, the US forward-looking economic data is weak, and the market is beginning to worry that the US will end the recovery cycle. Affected by expectations of interest rate cuts, the long-term U.S. Treasury yields have fallen extremely fast, while the inflation rate has remained stable, and the real interest rate has fallen rapidly, driving the rise of gold prices. At the same time, due to the highly negative correlatiBitcoin prices in Chinaon between the price of gold and the US dollar index, the potential recession has led to an increase in the expected depreciation of the US dollar. The depreciation of the US dollar has become an important driving force for further raising the price of gold.
However, this relatively decentralized situation was quickly broken. Six months after Nakamoto's reminder was released, GPU miners quietly joined the ranks of mining. Starting from the second half of 2010, Bitcoin's entire network computing power has increased exponentially, and the unit has rapidly jumped from MH/s to GH/s. According to public records, the first to start mining with GPU should be Pizza brother LaszloHanyecz.
Of course, the price of Bitcoin can still be maintained within the range of $9,000 (carbon chain value note: Bitcoin plummeted for a short time on the morning of May 10th. At the time of writing, according to CMC data, the price of Bitcoin was $7093, a 24-hour decline. 90%), which means that some domestic miners can mine bitcoin at a break-even price under lower electricity prices, even after the halving will not be affected. Not only that, Sichuan Province will soon enter the rainy season, many local power plants use hydroelectric power, often there is a lot of surplus electricity, so many large mining centers have been built there.