Co-founder of Bitcoin.com Got Rid of His Bitcoins

Соучередитель Bitcoin.com избавился от своих Биткоинов

Emil Oldenburg said that Bitcoin has no perspectives as a trading currency. Co-founder of Bitcoin.com company shared that he had sold all his bitcoin, however he did not stay away from cryptocurrency itself now preferring Bitcoin Cash.

According to Oldenburg, main problems of bitcoin are high commission fees and transaction speed that is getting lower and lower.

“I would say an investment in Bitcoin is the riskiest investment you can make”, – assured Emil Oldenburg.

The reason why bitcoin owners can not realize their risks is that the majority of them actually has been purchasing Bitcoin and has never tried to sell or trade their cryptocurrency. Users can make a limited number of transactions per second which partly depends on “block size” of the memory that store transactions on the blockchain.

“As soon as people realize how it all works they will start to sell”, – ads Emiel.

Some analysts expect bitcoin “bubble” to grow by two or three times, however it “will finally collapse when there will not be further money infusion to maintain it”.

Cameron Winklevoss, one of the first cryptocurrency billionaires, considers that the current bitcoin rate of $20 000 for 1 BTC is not the limit and this cryptocurrency will be at last 20 times more expensive and will compete with gold.

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Cryptocurrency Prices: The Rating Is in the Red Zone

Cryptocurrency Prices: The Rating Is in the Red Zone

According to the trading portal Coinmarketcap.com, Bitcoin (BTC) fell by 2.27% in the last 24 hours. The price at the time of writing is $8122.

The prices of cryptocurrencies are jumping again. Only yesterday they were growing, but today the rating is showing red numbers again. Ripple decreased by 3.27%, Monero lost 6.31%, Stellar fell by 5.10%, the price of EOS is also in the red zone – it dropped by 2.76%.

Ethereum is showing a fall by 2.95%. Its value at the time of writing is $682 per coin.

The total market capitalization is $370 billion. Bitcoin accounts for 37.3% of the total amount. It is $138 billion in monetary terms.

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The Japanese bank MUFG Will Launch Its Own Cryptocurrency

The Japanese bank MUFG Will Launch Its Own Cryptocurrency

After loud statements by Buffett and Gates concerning cryptocurrency, it seemed that at least the state institutions of countries would refuse from it, but a Japanese bank Mitsubishi UFJ Financial Group still decided to acquire its own cryptocurrency, MUFG Coin, in 2019.

“Regarding the speculation (in) media reports, these reports are not based on any announcement by MUFG, and the details have not been decided,” the bank’s spokesman said in an emailed statement to Reuters. “However we can only say that it’s true that MUFG is conducting demonstration experiments on the ‘Coin’ within the company utilizing a blockchain technology.”

According to NHK Japan, the digital currency MUFG Coin will be tested for suitability in several regions of the country. 100,000 people who are associated with the company will be able to participate.

Representatives of the bank will provide an opportunity for users to use the cryptocurrency as a means to pay for goods and services in shops and institutions. The bank’s digital currency can be transferred to the accounts of those who participate in the project. If the idea is successful, then MUFG will be the first Japanese bank that has its own digital currency.

The MUFG coin can be used exclusively in Japan. In the world market it can be traded in pairs at non-financial currency exchanges instead of USTD (Tether cryptocurrency, tied to the dollar).

Those people who have downloaded and installed an application that automatically converts deposits into MUFG Coin will be able to take part in the test of the new currency. The cost of one coin is equal to one yen.

We remind you that the management of Mitsubishi UFJ Financial Group announced its intention to launch a  cryptocurrency exchange with the national currency, as well as a service with split Bitcoin-accounts.

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