From the true reason for Bitcoin’s creation to new adoption for Tron and Litecoin, here’s a look at some of the stories breaking in the world of crypto.
Crypto startup veteran Dan Held just dropped a tweetstorm, making the case for why Bitcoin was primarily created as a store of value and not as a replacement for payment giants like Visa.
“With the 2008 financial crisis, trust had been lost in a world that ran on trust. Bitcoin was launched in a time of absolute necessity, Satoshi planted the seed at precisely the right moment. The world didn’t need a new VISA, they needed an alternative to banks.”
According to Held, those who say Bitcoin was primarily made for payments “insist on cherry-picking sentences from the white paper and forum posts to champion their perspective.”
Held uses the words of the anonymous Bitcoin creator Satoshi Nakamoto to back up his argument.
7/ "In this sense, it's more typical of a precious metal. Instead of the supply changing to keep the value the same, the supply is predetermined and the value changes. As the number of users grows, the value per coin increases” – Satoshi
— Dan Hedl (@danheld) January 14, 2019
9/ “If there were nothing in the world with intrinsic value that could be used as money, only scarce but no intrinsic value, I think people would still take up something. (I'm using the word scarce here to only mean limited potential supply)” – Satoshi
— Dan Hedl (@danheld) January 14, 2019
Held is the co-founder of the institutional-grade crypto portfolio management tool Interchange. He also co-founded the Bitcoin app ZeroBlock, which was acquired by Blockchain.info back in 2013. His Twitter display name is a wordplay on the crypto term “hodl”.
You can check out the full tweetstorm here.
Ethereum and OmiseGo
Decipher Media has released a new video featuring interviews with Ethereum creator Vitalik Buterin and OmiseGo founder Jun Hasegawa.
The video digs into what OmiseGo is all about, and its efforts to boost Ethereum’s transactions per second with the off-chain scaling solution Plasma.
Ripple and XRP
Ripple CEO Chris Larsen says blockchain-based payment solutions will help alleviate massive growth in global digital commerce.
In a new article in Financial IT, Larsen says the technology is already mature enough to eliminate major constraints in the cross-border payments industry.
“Global digital commerce volume exceeded $3 trillion in 2017 and is expected to more than double by 2022. Such enormous growth cannot rely solely on the current payment solutions, and new, already existing, technologies must be utilized to support this growth…
Blockchain platforms like Ripple and others were developed to address each one of these constraints, implicating cross-border payments by providing a standardized, decentralized infrastructure; full visibility for fees, delivery and status; transaction route optimization and costs reduction.
As the hurdles for blockchain-based payment systems adoption are decreasing, more and more financial institutions are exploring ways to implement this technology in their core solution offering. As more financial institutions will embrace this technology, then more SMEs will be able to utilize it to expand to new markets and segments.”
The crypto wallet Bitbill just added support for Litecoin on iOS and Android. It’s now the first and only Litecoin mobile wallet to support the technology multi-signature technology.
— Litecoin.com (@LitecoinDotCom) January 15, 2019
NEO News has just released its latest week in review.
The report covers the 2.9.4 release of the neo-cli node software. It also details the progress on a number of NEO-based platforms including Alphacat, Alchemint, Narrative and Switcheo.
The payment processing platform CoinGate just added support for Tron (TRX).
“Our team here at CoinGate is sure that the rapidly emerging TRON blockchain will become a valued addition to our list of supported cryptocurrencies. By facilitating payments between TRX shoppers and online vendors, we aim to become a significant part of the TRON ecosystem and contribute to further growth of the community.”
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#TRON (TRX) is now live on CoinGate! Native integration allows to freely spend $TRX at thousands of our online vendors, or you can accept it as a mean of payment at your store. More info on our blog! https://t.co/yzWru3aaOV @tronfoundation @justinsuntron #crypto pic.twitter.com/ClgpmcdF5G
— CoinGate (@CoinGatecom) January 14, 2019