Professor William N. Goetzmann was interviewed some time ago by Yale Insights, about what he thinks of cryptocurrencies. The Yale professor who is a teacher of Finance and Management Studies expressed his opinion on Bitcoin mostly and in today’s bitcoin news we will read what he thinks.
According to the published interview:
‘’Bitcoin’s volatility underscores the challenge of establishing the trust needed for a widely useful currency, but the proliferation of cryptocurrencies also shows that traditional, government-backed currencies don’t address everyone’s needs.’’
Goetzmann said that Bitcoin is not really the best store of value simply because its value is constantly changing. It depends on who you ask but Bitcoin’s volatility could be the worst enemy of the number one cryptocurrency according to the professor. He also argued that Bitcoin cannot be as what some like to call it ‘’the digital gold’’ yet. Goetzmann says:
‘’There are a few basic things any currency has to fulfill. It has to be a store value.[…] It has to be a method of transferring value. With Bitcoin, because it fluctuates so much, it’s not a particularly good store of value. You could put in $100 worth today, and it could be worth $25 dollars two weeks from now. Until it overcomes that particular feature, it’s not a great currency.’’
He was only commenting on the negative sides of the cryptocurrency such its volatility but it seems like when the prices go up, nobody talks about the volatility at all. Users use the time to send and receive some money in order to profit from the fast-pacing bull market. Of course, there are multiple arguments that support the idea of bitcoin always remaining volatile because, in fact, the volatile nature is good for traders.
Another interesting aspect of Goetzmann’s views is that Bitcoin represents the old way of doing business. Before paper money began printing, people traded their goods and services without actual money who he thinks are much like the blockchain technology. In a way, it’s like going back in the time before money even existed at least the kind that can now be transferred by a physical process.
At last, Goetzmann seems to have a neutral stance on cryptocurrencies but still thinks that they are a speculative investment at best.
Binance Enables Australian Users To Buy BTC At 1,300 Newsstands
‘’Binance Lite is a simple site for users to easily buy bitcoin with cash at physical store fronts. This model makes it really easy to bring new users into crypto, starting with Australia, where the government has taken proactive steps to support the blockchain industry. Users won’t have to open complicated online accounts to start using the service.’’The crypto market in Australia was a little behind than other markets in the world such as South Korea or Singapore because the banks didn’t support the crypto businesses in Australia. Back in 2017, during the strongest crypto rally, reports show that the larger Australian banks closed the accounts on multiple crypto investors. However, starting last year, the government of Australia began its proactive approach in regulating the crypto space and the blockchain industry so the investors are now hopeful that they could improve the market in the long run. Zhou also said that more than $5 billion in crypto was traded in crypto in 2018 in Australia and that since then the government is funding blockchain startups and companies by issuing bonds on the blockchain. The government has also started to accept crypto on airports such as the airport in Brisbane and even held a voting trial on the blockchain. He finished his interview by saying:
“Binance Lite also completes a comprehensive value chain for the Binance ecosystem in Australia. For example, users can show their friends how to buy bitcoin from Binance Lite stores, immediately load it up onto Trust Wallet on their phones, and go on to spend this bitcoin in shops accepting bitcoin payments through TravelbyBit, the payments startup Binance invested in last year.’’
Binance: Australians Can Now Buy Bitcoin With Cash From 1,300+ High-Street Stores
“Binance Lite Australia further expands digital currency adoption by providing easier ways to buy bitcoin. We are excited to continue to roll out more fiat to crypto gateways around the world to support the growth of our industry. We firmly believe that more adoption will lead to more innovation and more economic opportunities.”The account verification will occur on www.binancelite.com - and after that - users can deposit cash at the nearest Newsagent stores to receive crypto within minutes. Binance Lite Australia was designed as simple and easy to use and it sstate-of-the-art order processing technology guarantees maximum safety. Binance recently integrated the credit card payments on Binance.com and launched the fiat-to-cryptocurrency exchange (January 2019) with zero deposit fees - becoming one of the lowest priced exchanges for trading with Euros, British pounds and BTC and ETH. The fiat gateways also included the Binance Uganda, another exchange which supports the trading of Ugandan Shillings for cryptocurrency.
“Australia has been at the forefront of blockchain innovation, and we hope Binance Lite Australia can play a role to help further this cause,” Zhou concluded.
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