PayPal CEO Dan Schulman seems to be extremely skeptical about mass adoption of cryptocurrencies by retailers since as he pointed out, very few retailers currently accept it. That is why we are going to find out more about his opinions in today’s crypto news.
Schulman spoke at the 2019 World Economic Forum in Davos, Switzerland and noted:
“We’re not seeing many retailers at all accept any of the cryptocurrencies. But I think the underlying technology is interesting.”
PayPal CEO is not too quick when it comes to jumping on the Bitcoin bandwagon because he thinks that the main role of cryptocurrencies is to showcase how the blockchain technology works. Schulman also pointed out that he made a correct presumption about the crypto FUD last year and he said that consumers should not expect to see a PayPal supported crypto exchange anytime soon.
According to him, it’s the volatility of bitcoin that pushes away retailers to use it as a real currency and for them to accept it. Retailers have narrow margins and once the prices start fluctuating that can mean that the retailers will also be losing a lot of money.
The director of equity research at Buckingham Research Group Chris Brendler agrees with Schulman and says that cryptocurrencies are not optimal for nor merchants or consumers:
“It’s just not an efficient way to transfer value. It’s not a consumer-friendly process, and it’s not a merchant-friendly process.”
However, the former PayPal CEO Bill Harris trashed bitcoin as being a worthless invention and said that its proponents are cult-like zombies:
“The cult of bitcoin make many claims: that it’s instant, free, scalable, efficient, secure, globally accepted and useful,” Harris told CNBC (video below). “It is none of those things.”
Privacy Cryptocurrency Monero (XMR) Celebrates Its 5th Birthday
“Monero is very committed to its decentralized, grassroots structure meaning we took no premine. We don’t take a percentage of the block rewards. There was no [initial coin offering]."He also estimated that there is anywhere from 100 to 200 volunteers working on the Monero XMR project, a number which is mostly “depending on people’s time and availability." The project itself, according to Salazar, is not just about building a blockchain protocol. As featured on many altcoin news sites, it is also about redefining and boosting a global movement that will be centered around digital privacy.
“We’re not just trying to make global internet money. We’re trying to teach people the importance of things like privacy…It’s a very powerful tool and I think it’s a very necessary tool in our day and age,” Salazar noted.There is right now a free PDF version of a book titled "Mastering Monero" which talks about the privacy cryptocurrency Monero and is created by an Italian contributor with an alias "SerHack" who released it. Originally published in late 2018, this book was fully funded by the Monero community and is designed to teach non-crypto users the importance of "private and censorship-resistant transactions."
“With monero, for every input that you are spending, you will pull other inputs from the blockchain, other people’s random inputs…and it makes it appear as if all these inputs are spent. It makes it seem mathematically like any one of these [inputs] could have possibly been the [transaction] signers," another report notes.From Salazar's perspective, however, there are many improvements to the privacy cryptocurrency Monero - one of which is the upgrade of the network's user interface and experience (UI/UX) which are set to happen in the upcoming months.
Binance Coin (BNB) Is The First Crypto To Surpass Its 2018 All-Time High
- Utility - The main purpose of the BNB coin was to allow traders to receive significant discounts on trading fees when using BNB to pay for them - with recurring discounts in regards to listing fees, withdrawal fees, exchange fees and other fees.
- BNB Burning - Binance Coin (BNB) had a limited supply of 200 million but the Malta-based exchange later said that it would leave just 100 million BNB in circulation.
- Binance Chain - This is another major development trending in the altcoin news section as one of the recent launches for the decentralized exchange Binance Chain.
- Changpeng Zhao (CZ) - Last but not the least is the boss of Binance, the popular CZ, who is behind the rise of Binance Coin (BNB) and constantly playing a role as a prominent individual in this market.
Crypto Market Cap Surges To $180 Million, Binance Coin (BNB) Leads
Crypto Exchange Poloniex Starts Tether (USDT) Support
"To support both versions, our crypto exchange Poloniex will be converting a percentage of Tether currently on the Omni network to Tether on the TRON network. The amount of USDT we receive in the airdrop will be based on the amount we convert. Once the airdrop begins, Poloniex customers will be credited based on the amount of Tether they hold on Poloniex. The airdrop is scheduled to begin on April 30th and more details will be provided next week."According to the announcement which went viral in the Bitcoin and altcoin news, the development will support Tether on both chains - the USDT issued on the Omni protocol and the Tron network. The crypto exchange Poloniex also said that their decision to support the new chain is reasoned by expanded flexibility it provides to the USDT platform. In order to support the two issued versions, Poloniex will be converting a percentage of Tether which is currently on the Omni blockchain to Tether within the Tron blockchain. As Poloniex noted in the announcement:
“The amount of USDT we receive in the airdrop will be based on the amount we convert. Once the airdrop begins, Poloniex customers will be credited based on the amount of Tether they hold on Poloniex.”Meanwhile, Tether started issuing USDT on the Tron (TRX) blockchain on April 17th - and this development has been an upgrade from the Omni protocol-based USDT. As the best cryptocurrency news sites reported, this would enable users to hold and transfer the cryptocurrency through smart contracts on Tron. In December 2018, the crypto exchange Poloniex launched a dedicated offering for institutional traders and joined an increasing array of operators looking to service the institutional market. Before that, Poloniex explained then that the move had been taken in order to ensure that the exchange complies with the regulatory requirements in every jurisdiction. However, this announcement did not refer directly to any specific regulations.
Join us on Facebook
- Thailand Crypto Regulation Could Arrive Through ICO & STO Offerings
- Privacy Cryptocurrency Monero (XMR) Celebrates Its 5th Birthday
- Binance Coin (BNB) Is The First Crypto To Surpass Its 2018 All-Time High
- Bitcoin Investing: Over 50% Of Retirees In US Are Crypto-Aware
- 2019 Bitcoin Gains Are Now At 44% Against The US Dollar
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Altcoin News3 days ago
Notre Dame Reconstruction Powered By Crypto Fundraising Campaign
Altcoin News3 days ago
LTC Price Can’t Keep The Pace Any Longer: Crypto Analyst
Blockchain News5 days ago
France’s Ministry Of Finance Labels Blockchain As “A Government Priority”
About2 days ago
The Real Satoshi Nakamoto To Be Revealed By John McAfee
Blockchain News3 days ago
Legal Blockchain Experts Are In High Demand: Report
Analysis2 days ago
Bitcoin (BTC) Price Holding Onto Crucial Support Levels: An Increase Is Likely
Altcoin News3 days ago
Tezos Price Rises By 10% Reaching A New Five-Month High
Uncategorized3 days ago
Privacy Coin Monero Turns Five Today, What Did It Achieve?