David

<ul class="news-points">
 <li>Ripple CTO David Schwartz backed the conversion of US Treasuries into BTC.</li>
 <li>Schwartz also defended Bitcoin’s limited supply, BTC halving, and PoW.</li>
 <li>Sen. Lummis said that the Trump administration will convert US Treasuries into BTC in 5 years.</li>
</ul>
Ripple’s Chief Technology Officer, David “JoelKatz” Schwartz, recently engaged in a debate on social media platform X (formerly Twitter) regarding Bitcoin halving and the potential conversion of U.S. Treasuries into Bitcoin. Senator Cynthia Lummis recently stated at the 2024 Bitcoin Conference that the Trump administration would convert <a href="https://x.com/SenLummis/status/1817337985492226154" target="_blank" rel="noopener noreferrer nofollow">excess reserves at the 12 Federal Reserve banks</a> into Bitcoin over five years.
Paul Vigna, author of “The Age of Cryptocurrencies,” criticized the concept of converting treasuries into Bitcoin, considering BTC’s extreme volatility. Another X user <a href="https://x.com/Bit_Faced/status/1817732373829517498" target="_blank" rel="noopener noreferrer nofollow">questioned the practicality</a> of using the blockchain when transaction fees rise with network congestion. The user also questioned whether using a third party in such a situation will result in the loss of all the benefits of using blockchain technology.
<figure class="wp-block-embed is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 No matter how many times you say it, it won't stop being completely ridiculous. Limiting the…
 </blockquote>
 </div>
</figure>
The post <a href="https://coinedition.com/ripple-cto-weighs-in-on-bitcoin-halving-blockchain-benefits-and-u-s-treasury-conversion-debate/" rel="noopener noreferrer nofollow">Ripple CTO Weighs in on Bitcoin Halving, Blockchain Benefits, and U.S. Treasury Conversion Debate</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Ripple CTO Weighs in on Bitcoin Halving, Blockchain Benefits, and U.S. Treasury Conversion Debate

Coin Edition

Други статии, публикувани на 30.07.2024 г.

SEC Charges BitClout Founder with Fraud and Misuse of Funds

Tron surpasses Ethereum, Solana in revenue generated over past 24 hours

JUST IN! Binance Labs Announced the New Cryptocurrency Project It Invested in!

Toncoin Faces Market Challenges Despite Previous Gains

Politicians and Investors Advocate for US Bitcoin Reserve

Cryptocurrency Pepe Falls More Than 4% In 24 hours

Присъединете се към нашия безплатен бюлетин за ежедневни крипто актуализации!