Post by: newshunter on March 23, 2021, 07:00:31 PM
Jerome Powell reiterates his opinion about Bitcoin as a gold substitute, but a sell-off accompanies his other criticisms.
Source: Bitcoin is 'more a substitute for gold than the dollar' — Fed Chair Powell (https://cointelegraph.com/news/bitcoin-is-more-a-substitute-for-gold-than-the-dollar-fed-chair-powell)
Would appreciate your opinion about this
Post by: Bobcrypto on March 23, 2021, 09:39:49 PM
Post by: TomPluz on March 24, 2021, 04:26:13 AM
Post by: Senin on March 25, 2021, 07:11:31 AM
This is already a big recognition from someone who is really a high-ranking personality of the governmental financial system. So Powell is now clearly understanding that Bitcoin is the digital version of gold and therefore it must be so valuable and maybe is really here to stay. As to the dollar, Bitcoin is not yet its substitute...that is for now. We don't have to push that far because admittedly Bitcoin is more of a store of value rather than a currency all because most are using this as a speculative tool and only a few are using it as everyday money. Well, in the future that can be changing though.So far, it is highly unlikely that bitcoin will be widely used as a means of payment in the future. Almost all of it is now used as a speculative tool. The price for it is growing and therefore bitcoin holders have no incentive to buy something for it. Of course, the situation may change in a few years. This will largely depend on the position of states towards bitcoin and cryptocurrency in general.
However, bitcoin is developing very poorly, and altcoins are developing very quickly.
Post by: Cici Lee on March 25, 2021, 08:16:30 AM
1.7-days saving
Bitcoin’s 7-DAY Savings has a fixed age of 15%. Regardless of the rise or fall of Bitcoin, this income can be obtained at maturity. The principal and interest are guaranteed. Quantitative funds are the most profitable products in the currency circle so far. The principal and the corresponding income will be transferred to the wealth management account at maturity. The fee rate is 0.
Thence, related to the 7-DAY Savings, we will introduce the quantitative fund in Bitoffer. The quantitative fund is commonly created by Goldman Sachs Asia's top quantitative team, which is the world-famous team. Struggled to the co-operation with this team, the fixed age of 10% is reasonable. The strategy of quantitative hedging, quantitative arbitrage and high-frequency trading is wiser than any other exchange.
7-DAY Savings
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$100 to start amount
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2.Quantitative fund
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Subscription and redemption mechanism at any time, flexible use of funds
3.ETF Fund
Bitoffer’s ETF due to the low cost of ownership. Due to the above reasons, a retail investor who does not want to spend much time on selecting funds & expects a decent return can go for Bitoffer’s ETF investment.
4.Ups and downs
If Bitcoin is expected to rise in the future, buy the rising state, and if Bitcoin is expected to falling in the future, buy the falling one. When buying up, you earn as much as Bitcoin goes up in the cycle; when buying down, you earn as much as Bitcoin fall in the cycle.
5.BTC Options
It is that investors predict the future rise and fall of bitcoin based on the rising and falling current situation of Bitcoin. If Bitcoin is expected to rise in the future, buy the rising state, and if Bitcoin is expected to falling in the future, buy the falling one. When buying up, you earn as much as Bitcoin goes up in the cycle; when buying down, you earn as much as Bitcoin fall in the cycle.