The Bank for International Settlements, also known as BIS, is launching a full-scale attack on bitcoin. If you don’t know what the BIS is, you can think of it as the central bank of central banks. In a recent report, the BIS laid out its vision for the future of the monetary system.
UST is an algorithmic stablecoin that is supposed to stay pegged to the US dollar at $1. This means, 1 UST should always be convertible into 1 USD. However, in recent days, the stablecoin broke its peg and plunged to $0.14, losing its parity and wiping out over 85% of its value.
Cryptocurrency is a recent phenomenon that started around ten years ago. After Bitcoin was invented, several altcoins appeared on the scene including Namecoin and Litecoin. These altcoins promised improvements such as faster payments and scalability, and sometimes alternative use cases such as decentralizing existing internet services.
After Bitcoin was invented by Satoshi Nakamoto, many others decided to create their own variations of Bitcoin with minor or sometimes significant changes. Today, there are over 14,000 altcoins. This new market is often referred to as cryptocurrency market or simply crypto. There are different types of proponents in the industry.
Bitcoin is often called a hedge against inflation and compared to gold. Historically, gold has been inversely correlated with the stock market. Whenever stocks crash, investors pull out of the stock market and invest into gold. And when stocks are in a bull market, investors move money from gold into the stock market.
Many people claim that bitcoin is one of the greatest bubbles in human history. It has been compared to the Tulip Mania and other bubbles in the past. Despite claims that bitcoin is in a bubble, it has continued growing at an astonishing rate and it shows no signs of slowing down.
With the rise of Bitcoin, central banks all around the world are facing the inevitable digitization of money. Many central banks have started developing their own Central Bank Digital Currency (CBDC), including the European Central Bank, the Bank of the People’s Republic China and the Central Bank of Indi
With El Salvador making bitcoin legal tender and the growing interest of retail investors and institutions in bitcoin, the case for hyperbitcoinization is becoming increasingly likely. In this article I will discuss what hyperbitcoinization is and why it might be closer than people realize.
I recently picked up a copy of Ben Mezrich’s Bitcoin Billionaires and one of the things that stood out most is how the Winklevoss twins store their bitcoin. From time to time we might include affiliate links in our articles. This allows us to support our sit