Yale Professor Highlights Bitcoin’s Benefit of Being a Store of Value Outside of Banking System

There are several individuals and enthusiasts that believe virtual currencies, including Bitcoin (BTC), are considered money. However, there are some …
Yale Professor Highlights Bitcoin's Benefit of Being a Store of Value Outside of Banking SystemYale Professor Highlights Bitcoin's Benefit of Being a Store of Value Outside of Banking System

There are several individuals and enthusiasts that believe virtual currencies, including Bitcoin (BTC), are considered money. However, there are some academics and professors that do not agree with this theory.

This is the case of William Goetzmann, a Yale professor and a Pulitzer Prize recipient. He is also an expert on financial history.

Yale Professor Believes Bitcoin is Not a True Currency

In a recent article released by Yale Insights, Professor Goetzmann said that the cryptocurrency craze offers a glimpse of the social meaning of money and the difficulties of innovating on an effective system.

Goetzmann has initially expressed cautious sentiment towards Bitcoin (BTC). He said that there are some risks inherent to the technology. He has also mentioned that there is a demand for transferring and storing value outside the traditional financial system. However, he said that it is a challenge to figure out the fundamental value.

At the same time, he said that ancient forms of money were similar to cryptocurrencies since they were based on a ledger. He explained that Bitcoin is an accounting transaction rather than anything else and that with it users can send and receive payments.

Nonetheless, he explicitly said that Bitcoin must have a greater level of stability to be considered a reliable store of value.

On the matter, he commented:

“There are a few basic things any currency has to fulfil. It has to be a store of value. It has to be a unit of account. It has to be a method of transferring value. With Bitcoin, because it fluctuates so much, it is not a particularly good store of value. Until it overcomes that particular feature, it is not a great currency.”

In general digital assets tend to have very volatile prices. Indeed, a digital asset could move in a single day over 20% up or down. Thus, the market is very volatile and prices fluctuate at all times.

Bitcoin will be maturing during the next few years. This will allow the digital asset to increase its stability and also to be recognized by a larger part of the society as a store of value.

March 18th Crypto Market Update: Bitcoin Cash (BCH) Surges Higher While In Bitcoin (BTC) Falls …

The smart contract platform is still being used by many developers and the price is holding up above the $3 support. At the time of writing, EOS was …
bitcoin cash bch upgrade hard fork 32mb block size may 15 upgrade

In the cryptocurrency market, a downward price correction is normal when the coins are preparing for a Bitcoin bull run. Four days ago, Bitcoin crossed the $4,000. Since then, the price has corrected downward up to three times. In today’s cryptocurrency market update, Bitcoin and other top cryptocurrencies once again attempting a downward correction against the USD.

Bitcoin (BTC) Price Today – BTC / USD

Name Price 24H (%)

bitcoin
Bitcoin(BTC)

$3,980.33

Bitcoin (BTC) Price Today: Will The Bitcoin Bull Run Come?

Ever since the best Bitcoin bull run recorded in history (the 2017/2018 bull rally), the cryptocurrency market has been waiting eagerly for a similar event. Unfortunately, the greatest Bitcoin bull run was followed by a 15-month long cryptocurrency winter that cost BTC more than 80% of its value from its all-time high. This is why every minor rally counts. The latest Bitcoin rally isn’t as good as the 2017/2018 rally but it was significant because it took the price of BTC higher than the key $4,000. At the time of writing, BTC was trading at $4,021.89. This shows that it is correcting lower at 0.25% against the USD. The 24-hour trading volume is $8,902,053,544 and the total market capitalization is $70,767,801,756. The bull run will start soon but it’s not yet clear when.

EOS Price Today – EOS / USD

Name Price 24H (%)

eos
EOS(EOS)

$3.70

EOS (EOS) Price Today – Will EOS Recover?

EOS suffered a great deal during the cryptocurrency winter. After the EOS mainnet migration complications, many people believed that EOS would never recover and Block.one will eventually have to shut the blockchain down. Fortunately, EOS survived the storm. The smart contract platform is still being used by many developers and the price is holding up above the $3 support. At the time of writing, EOS was trading at $3.74. It is trading 1.38% lower against the USD and 0.93% lower against BTC. The trading volume is $1,418,832,837 and the market capitalization is $3,389,682,841.

Bitcoin Cash (BCH) Price Today – BCH / USD

Name Price 24H (%)

bitcoin
Bitcoin(BTC)

$3,980.33

bitcoin-cash
Bitcoin Cash(BCH)

$159.41

Bitcoin Cash (BCH) Price Today – BCH Price Forecast

Everyone knows that the price of BCH was significantly affected by the Bitcoin Cash hard fork war that happened in November 2018. Many in the Bitcoin SV camp predicted that BCH will be annihilated paving a way for Bitcoin SV. However, BCH has done better than expected. Right now, other cryptocurrencies are trading in red but BCH is trading in green at $160.51. This shows that it is up by 3.23% against the USD and up by 3.63% against BTC. The trading volume over a 24 hour period is $538,263,015 and the market capitalization is $2,837,681,305.

Right now, BCH and XLM are the only cryptocurrencies in the top ten list that are trading in green. XLM is currently trading at $0.109290. This means that it is up by 0.15% against the USD and up by 0.55% against BTC. The trading volume over a 24 hour period is $156,908,249 and the market capitalization is $2,100,626,945. The price action of BCH and XLM is surprising. They have been able to break free from the strong relationship altcoins have with Bitcoin. However, it’s not clear how long this will last.

What do you think about today’s cryptocurrency market update? Share your thoughts in the comment section.

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Bitcoin Price Analysis – BTC Uncertain Again

Last year, only a third of those who owned Bitcoin run transactions and sent coins to other accounts more often than once in a month; some of them …
crypto price arbitrage

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

By Friday, March 15, the BTC is no longer active, trading around $3,852.13.

The short term trend is still here to stay, with the major crypto correcting. On H4, the price is trading sideways between $3,711 and $3,945.70. The MACD is heading down, which means the price is likely to start falling. However, before doing so, it will first have to break out the short term local support at $3,786, which may then send the price to the correction channel support at $3,711, probably with a subsequent breakout. The next target may lie at 76% FIbo, or $3,542. Conversely, the price may start an uptrend as well, in which case it will first hit the resistance at $3,945.70 and then reach the high at $4,188.40.

On H1, the Stochastic is forming a golden cross, which signals a possible short term rise, first to the local resistance at $3,890, and then to the major one at $3,945.70.

According to the Foundation for Interwallet Operability survey, the Bitcoin’s owners are not using BTC to make transactions as they doubt whether such transactions will be executed. Last year, only a third of those who owned Bitcoin run transactions and sent coins to other accounts more often than once in a month; some of them even did so just twice a year, while 27% did not use their crypto assets at all.

The survey is not very much comprehensive, as it includes only 200 respondents, but the overall outlook is clear, with only 25% of crypto users being comfortable to run transactions.

Justin Sun, Tron’s founder, confirms this, saying that Bitcoin is not effective for business and, being just a technology, is very mediocre as an investment vehicle. Bitcoin does not have anything to become a business asset, he adds. The very technology behind Bitcoin is great, Sun believes, as it started the tech revolution that is now happening around the world, similar to what Internet did a few decades ago.

Disclaimer

Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

Image(s): Shutterstock.com

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Augur (REP) Reaches 24-Hour Volume of $5.08 Million

… now be bought for approximately $14.96 or 0.00371991 BTC on major cryptocurrency exchanges including HitBTC, GOPAX, LATOKEN and Koinex.

Augur logoAugur (CURRENCY:REP) traded 3% higher against the US dollar during the 1-day period ending at 10:00 AM ET on March 18th. One Augur token can now be bought for approximately $14.96 or 0.00371991 BTC on major cryptocurrency exchanges including HitBTC, GOPAX, LATOKEN and Koinex. Augur has a market cap of $164.52 million and approximately $5.08 million worth of Augur was traded on exchanges in the last day. Over the last seven days, Augur has traded up 6.1% against the US dollar.

Here is how other cryptocurrencies have performed over the last day:

  • XRP (XRP) traded 0.3% lower against the dollar and now trades at $0.32 or 0.00007899 BTC.
  • Binance Coin (BNB) traded 2% lower against the dollar and now trades at $15.53 or 0.00386338 BTC.
  • Stellar (XLM) traded up 0.3% against the dollar and now trades at $0.11 or 0.00002726 BTC.
  • Tether (USDT) traded 0.1% higher against the dollar and now trades at $1.01 or 0.00025202 BTC.
  • TRON (TRX) traded down 1.8% against the dollar and now trades at $0.0228 or 0.00000569 BTC.
  • Bitcoin SV (BSV) traded 1.8% lower against the dollar and now trades at $67.09 or 0.01671408 BTC.
  • NEO (NEO) traded down 2.7% against the dollar and now trades at $9.22 or 0.00229801 BTC.
  • VeChain (VET) traded down 2% against the dollar and now trades at $0.0052 or 0.00000131 BTC.
  • Crypto.com Chain (CRO) traded 5.4% lower against the dollar and now trades at $0.0716 or 0.00001782 BTC.
  • Basic Attention Token (BAT) traded 0.6% lower against the dollar and now trades at $0.20 or 0.00004866 BTC.

About Augur

Augur’s launch date was November 17th, 2014. Augur’s total supply is 11,000,000 tokens. The official website for Augur is www.augur.net. The Reddit community for Augur is /r/augur and the currency’s Github account can be viewed here. Augur’s official Twitter account is @AugurProject and its Facebook page is accessible here.

Buying and Selling Augur

Augur can be bought or sold on the following cryptocurrency exchanges: Cryptopia, LATOKEN, BX Thailand, Kraken, Mercatox, Bittrex, Ethfinex, Poloniex, Binance, Livecoin, Gatecoin, Upbit, Gate.io, DragonEX, BitBay, IDEX, Liqui, CoinTiger, Bithumb, GOPAX, AirSwap, Crex24, HitBTC, Bitsane, Cobinhood, ChaoEX, Koinex, Zebpay, Bitbns and ABCC. It is usually not presently possible to purchase alternative cryptocurrencies such as Augur directly using U.S. dollars. Investors seeking to acquire Augur should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, GDAX or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Augur using one of the exchanges listed above.

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Bitcoin Cash Grows as Major Oil Futures Show Mixed Movements

Bitcoin is down just over one tenth of a percent on the day, trading at around $4,024, according to CoinMarketCap. Looking at its weekly chart, the …

Monday, March 18 — most of the top 20 cryptocurrencies are reporting slight to noteworthy losses on the day by press time.

Bitcoin is down just over one tenth of a percent on the day, trading at around $4,024, according to CoinMarketCap. Looking at its weekly chart, the current price is just under three percent higher than $3,906, the price at which Bitcoin started the week.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: CoinMarketCap

Co-founder of advisory firm Fundstrat Global Tom Lee today noted the apparent correlation between Bitcoin’s price action and emerging markets in a tweet.

Ethereum (ETH) is holding onto its position as the largest altcoin by market cap, which is at about $14.6 billion. The second-largest altcoin, Ripple (XRP), has a market cap of about $13 billion by press time.

ETH is down by about one percent over the last 24 hours. At press time, ETH is trading around $139, after having started the day at $140. On its weekly chart, Ethereum has seen its value increase by over four percent.

Ethereum 7-day price chart

Ethereum 7-day price chart. Source: CoinMarketCap

Ethereum core devs approved once again the proposed application specific integrated circuit-resistant proof-of-work algorithm ProgPoW during their weekly meeting on March 15.

Second-largest altcoin Ripple has lost about three quarters of a percent in the 24 hours to press time, and is currently trading at around $0.315. Looking at the coin’s weekly chart, its current price is over one and a half percent higher than $0.310, the price at which it started the week.

Ripple 7-day price chart

Ripple 7-day price chart. Source: CoinMarketCap

Among the top 20 cryptocurrencies, the only ones reporting gains are Bitcoin Cash (BCH), which is up nearly five and a half percent, Ontology (ONT), which is up over two percent, Dash (DASH) and Maker (MKR), both up over one and a half percent.

The total market cap of all cryptocurrencies is currently equivalent to $139.3 billion, which is over four and a half percent higher than $132.8 billion, the value it saw one week ago.

As Cointelegraph reported earlier today, Tyler and Cameron Winklevoss, Bitcoin bulls and founders of the Gemini crypto exchange, say that while Facebook’s secretive crypto project is positive for the industry, crypto will ultimately usher in something greater than the social networking era.

In traditional markets, the stock market is seeing discreet growth so far today, with the S&P 500 up 0.15 percent and Nasdaq up 0.17 percent. The CBOE Volatility Index (VIX), on the other hand, has gained a solid 2.87 percent on the day at press time.

Earlier today, CNBC reported that European markets are seeing growth, for Deutsche Bank and Commerzbank shares surged three percent as the banks discuss a merge.

Major oil futures and indexes are showing mixed movements today, with WTI Crude up 0.05 percent, Brent Crude up 0.22 percent and Mars US down 1.42 percent. Opec Basket is also up 1.04 percent and the Canadian Crude Index has seen its value increase by 0.37 percent, according to OilPrices.

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