The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Bitcoin Beats S&P 500, Visa Buys Ripple Partner Earthport, and Ethereum Creator Vitalik Buterin Debates Future of BTC

by Daily Hodl Staff
December 27, 2018
in Altcoins

Ripple Partner Acquired by Visa

Payments giant Visa just acquired Ripple partner Earthport for around $250 million, according to a new report from Reuters.

The London-based company handles international transactions for banks and businesses, and partnered with Ripple back in December of 2014.

The partnership led to the launch of the Earthport Distributed Ledger Hub in 2016. That same year, Earthport “executed the first cross-border payment transaction received via distributed ledger for Santander UK, enabling it to become the first UK bank to use distributed ledger technology (DLT) for cross-border payments globally.”

Earthport says Ripple is helping the company build on its mission “to provide access to as many countries, currencies, accounts and payment types as possible through a single API.”

Visa’s acquisition of Earthport is designed to help the company boost its cross-border payments business, which currently represents about 10% of the company’s overall revenue.

Bitcoin Beats S&P 500

Meanwhile, the price of Bitcoin is beating the S&P 500 in December. The index of the biggest publicly traded companies in the US started the month at $2,790. At time of publishing, the price is now $2,424. That’s a loss of just over 13%.

In contrast, Bitcoin started the month at about $4,020 and is now at just over $3,800, according to CoinMarketCap. That’s down about 5.5%.

The crypto investment firm Morgan Creek Digital is betting $1 million that its crypto index will outperform the S&P 500 over the next decade. So far, there are no takers.

Ethereum Creator Praises Bitcoin – Sort of

Finally, Ethereum creator Vitalik Buterin says he respects Bitcoin’s innovative technology, but doesn’t believe its consensus mechanism will be successful in the long run. In a recent podcast, Buterin called out Bitcoin’s energy consumption.

“One of them is that with Proof of Work, in order to prove that you actually have this computing power, you have to basically turn on these computers and have them solve mathematical puzzles 24/7. And this leads to huge amounts of energy consumption. I think Bitcoin is at the point of exceeding probably the majority of the world’s countries’. And Ethereum is definitely not nearly at that point, but it’s still much higher than I would like it to be.”

In a new series of tweets, Buterin calls Bitcoin “genuinely cool tech”, but adds that he doesn’t believe in Proof of Work, which is the algorithm used to confirm transactions on the Bitcoin network.

– What works today (L1) is just a phase, ideal and unproven future (usable L2) is to come
– Utopian concept of progress: we're already so confident we're finished we ain't needin no hard forks
– Utopian future: hyperbitcoinization

I can play this game too! ?

— vitalik.eth (@VitalikButerin) December 25, 2018

I don't believe in proof of work!

— vitalik.eth (@VitalikButerin) December 25, 2018

Ethereum is set to switch from a Proof-of-Work system to Proof-of-Stake, which is designed to give users the ability to validate transactions based on how many coins they have.

Image via vishpool/Flickr

[the_ad id="42537"] [the_ad id="42536"]
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • OKX Partners With Komainu, Enabling 24/7 Secure Trading of Segregated Assets Under Custody for Institutions
    June 6, 2023
  • Mooky.io – $750,000 Raised Within a Matter of Days
    June 5, 2023
  • DPAT Raises Private Funding To Enhance Web 3.0 Ecosystem
    June 2, 2023
  • Pink Moon Studios Reveals ‘KMON: World of Kogaea’ Pioneering a New Era in Web 3.0 Open-World Gaming
    June 2, 2023
  • OKX Proposes Industry-First BRC-30 Token Standard To Enable Bitcoin and BRC-20 Token Staking
    June 2, 2023
  • Devour and AlterVerse Partner To Bring the World’s First Web 3.0 Food Ordering Marketplace to the Metaverse
    June 1, 2023
  • Bumper’s Breakthrough DeFi Protocol Set To Reshape Options Pricing
    May 31, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$26,966.23
$26,966.23
4.7%
Ethereum
$1,878.73
$1,878.73
3.62%
Cardano
$0.346729
$0.346729
1.27%
XRP
$0.529691
$0.529691
3.89%
Dogecoin
$0.069701
$0.069701
4.23%

Spotlight

  • It Really Is Time for Bitcoin (BTC) To Rise, Says Veteran Trader Tone Vays – Here’s His Target
    May 30, 2023
  • Dormant Ethereum Wallet From ICO Era Abruptly Wakes Up After Eight Years With 588,609% Gains
    May 30, 2023
  • $496,000,000,000 Sovereign Wealth Fund Says Crypto Investment Had Negative Impact on Its Reputation
    May 30, 2023
  • Trader Who Accurately Called 2023 Crypto Rally Predicts Massive Litecoin (LTC) Surge – Here’s His Forecast
    May 30, 2023
Coinfest Asia Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl