The purpose of this website is to be a place for learning and discussion. The website and each tutorial topics do not encourage anyone to participate in trading or investment of any kind.
Any information shown in any part of this website do not promise any movement, gains, or profit for any trader or non-trader.

.

Author Topic: Tech Tent: Has crypto-currency peaked?  (Read 1471 times)

ForexMan

  • Jr. Member
  • **
  • Posts: 51
    • View Profile
on: September 18, 2018, 01:25:20 PM
If you believe crypto-currencies are the future this has not been a good week. The value of Ethereum, Bitcoin's main rival and "the future of crypto" not so long ago, has lurched ever lower and is now 80% below its peak.

Meanwhile, US regulators have acted against companies involved in crypto-currencies and initial coin offerings (ICOs) - schemes to create new coins.

But hope springs eternal, and in recent days both a London art gallery and a Scottish hotel have contacted me about plans to allow their customers to pay with crypto-currencies.

So on this week's Tech Tent we debate this question: has crypto-currency peaked or do its best days lie ahead?

We invited David Gerard, author of Attack of the 50 Foot Blockchain, a very sceptical take on the crypto landscape, to debate with Christopher Shake, the director of that London gallery, The House of Fine Art.

The gallery's press release had boasted that it was about to run "the very first art exhibition only available through crypto-currency".

By the time Mr Shake arrived in our studio that had changed slightly - customers would be encouraged to buy the 500 works in the October exhibition in Bitcoin or a range of other digital currencies but if they wanted to use good old-fashioned dollars or pounds, such payment would be accepted.

"Our main goal is to support and promote our artists," he says. But as a crypto-currency enthusiast, he explains that there is also problem he wants to solve: people sitting on big crypto assets aren't able to spend them.

"If a lot of merchants do jump on and accept crypto-currencies, that will add confidence to the market," he explains.

But David Gerard says things are moving in the opposite direction - fewer merchants are accepting crypto-currencies because they are so volatile and the promise of smooth cost-free transactions has proved illusory.

He says many left during the 2017 Bitcoin bubble. "You couldn't trust it for volatility, you couldn't trust it because transactions were slow and often didn't go through at all. It really destroyed the use-case for the general merchant acceptance of cryptos."

.:https://www.bbc.co.uk/news/technology-45526365



 

Related Topics



-

Discussion Forum / 论坛 / منتدى للنقاش/ Diễn đàn thảo luận/

-
Disclaimer : The purpose of this website is to be a place for learning and discussion. The website and each tutorial topics do not encourage anyone to participate in trading or investment of any kind. Any information shown in any part of this website do not promise any movement, gains, or profit for any trader or non-trader.

By viewing any material or using the information within this site, you agree that it is general educational material whether it is about learning trading online or not and you will not hold anybody responsible for loss or damages resulting from the content provided here. It doesn't matter if this website contain a materials related to any trading. Investing in financial product is subject to market risk. Financial products, such as stock, forex, commodity, and cryptocurrency, are known to be very speculative and any investment or something related in them should done carefully, desirably with a good personal risk management.

Prices movement in the past and past performance of certain traders are by no means an assurance of future performance or any stock, forex, commodity, or cryptocurrency market movement. This website is for informative and discussion purpose in this website only. Whether newbie in trading, part-time traders, or full time traders. No one here can makes no warranties or guarantees in respect of the content, whether it is about the trading or not. Discussion content reflects the views of individual people only. The website bears no responsibility for the accuracy of forum member’s comments whether about learning forex online or not and will bear no responsibility or legal liability for discussion postings.

Any tutorial, opinions and comments presented on this website do not represent the opinions on who should buy, sell or hold particular investments, stock, forex currency pairs, commodity, or any products or courses. Everyone should conduct their own independent research before making any decision.

The publications herein do not take into account the investment objectives, financial situation or particular needs of any particular person. You should obtain individual trading advice based on your own particular circumstances before making an investment decision on the basis of information about trading and other matter on this website.

As a user, you should agree, through acceptance of these terms and conditions, that you should not use this forum to post any content which is abusive, vulgar, hateful, and harassing to any traders and non-traders.