Why Bitcoin's price never goes to zero • CoinBase focuses on big traders in the EU and Asia and other news
Recently in Davos, Jeff Schumacher claimed that the Bitcoin prize is on the way to zero. Here are two simple reasons why this is impossible. Schumacher is a top investor and a relative veteran in the industry, writes Christina Comben of CCN.
The fact that Bitcoin drops to zero is something that will not happen because practically everyone would have to sell their BTC. At that, 42% of people with more than 200 BTC did not send them at a high price in December 2017. If the holder were not motivated to sell their coins when the price was massive, why would they suddenly do when Bitcoins were cheap?
Another reason is that with such a high percentage of coins as deposited in different wallets and places, a number of catastrophic events would have to be combined to make the price actually cost $ 0. Such a scenario requires that:
Hodleři had suddenly a high economic motivation to get rid of coins.
Merchants were willing to accept losses in thousands per token.
All business robots have been programmed to buy cheap coins.
Most cryptobruses were switched off or disabled at the same time.
Miners are suddenly willing to upload their used blocks for free.
It's a story of unimaginable entropy. As many future adopters are waiting for a world where they can easily use Bitcoin instead of converting it to a fiat menu. Read more here: https://www.ccn.com/the-simple-reasons-why-the-bitcoin-price-will-never-go-to-zero/
Coinbase focuses on big traders in the EU and Asia
Coinbase, one of the most popular digital asset bureaus in the US, has announced the launch of two new financial services. This move is perceived as an attempt by the company to expand into alternative markets. Also as a prudent step when considering the impact of the US government shutdown on domestic markets. According to the announcement, the hi-volume customers of Coinbase Pro and Prime in Asia and Europe will now be able to use SWIFT transfers to finance their Coinbase accounts from US-based banks.
While the new opportunities introduced by Coinbase do not have to attract more day-traders, it is a big step forward in attracting large institutional investors. In its statement, the company said the cryptographic market resulted in hundreds of cryptohex funds that were launched around the world and Coinbase saw the opportunity to provide their services. Read more here: https://cryptoslate.com/coinbase-attract-institutional-cryptocurrency-investors-europe-asia/
Mastercard received a fine of € 570 million from the EU
According to an online statement released on January 22, the European Commission's Competition Commission imposed a fine of EUR 570 million on Mastercard. The reason is the artificial increase in payment processing fees, which is contrary to antitrust laws. Mastercard forced merchants to pay fees for payments in their countries of residence, preventing them from accessing lower-priced banks in other parts of the EU. EU Competition Commissioner Margrethe Vestager said:
"By preventing merchants from buying on better terms offered by banks in other Member States, Mastercard artificially increased the cost of card payments and harmed consumers and retailers in the EU."
The latest EU decision highlights how old payment systems connect with banks to convey hidden costs to customers. Read more here: https://news.bitcoin.com/mastercard-fined-650m-by-eu-for-artificially-raising-fees/
Japan expects to deploy a blockchain of payment system before LOH in 2020
According to the latest MIT Technology Review, Mitsubishi UFJ Financial Group (MUFG) merged with the American Akamal cluster in an effort to build the world's fastest payment network.
Although Japan is known for its amazing technological innovations, the existing financial framework of the country is still quite archaic. Most people still prefer to use cash to make day-to-day money transactions.
Given that the country expects a huge influx of tourists next year due to the upcoming Summer Olympics, we will see Japan able to meet the digital payment needs of its expected foreign visitors. Especially because electronic payments are the norm. Read more here: https://bitcoinexchangeguide.com/japan-looks-to-deploy-experimental-blockchain-payment-system-ahead-of-2020-olympics-in-tokyo/