Reserve

Bitcoin

David

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
<a href="https://u.today/rich-dad-poor-dad-author-gives-crucial-reason-for-saving-bitcoin">Bitcoin (BTC)</a>, the first and largest cryptocurrency, continues to be at the centre of discussions among financial experts. A recent statement by&nbsp;<a href="https://x.com/JoelKatz/status/1817752593403445280">David Schwartz</a>, CTO of Ripple, has drawn attention to Bitcoin's unique advantages that are not always obvious.
The discussion began by discussing the recent news that cryptocurrency could be used as a reserve asset by the U.S. Federal Reserve. As a reminder, Senator Cynthia Lummis proposed a bill that would create a strategic&nbsp;<a href="https://u.today/satoshi-era-bitcoin-address-reactivated-after-12-years">Bitcoin</a> reserve, involving purchasing 1 million BTC over five years and holding them for a minimum of 20 years. This could reduce the national debt, the senator believes.
At the same time, some critics believe&nbsp;<a href="https://u.today/tron-founder-justin-sun-urges-elon-musk-to-do-this-for-bitcoin">BTC</a> is too volatile as a reserve asset and too impractical for day-to-day use when there are concerns about its ability to handle an increasing number of users, especially in light of rising transaction costs.&nbsp;
<h2 dir="ltr" id="beauty-of-bitcoin">Beauty of Bitcoin</h2>
To prove this wrong Schwartz highlighted that Bitcoin is flexible when it comes to processing transactions. He pointed out that users can conduct transactions directly through the blockchain or use alternative methods that may be more suitable for their needs.
Ripple CTO also explained that blockchain, as a decentralized registry, provides a basic level of reliability and transparency. Sometimes, centralized systems can process transactions more quickly and cheaply, while still keeping things secure.
This shows how Bitcoin can be used in different ways, depending on what the user needs. The fact it can be used for secure record keeping through blockchain and more efficient transactions through centralized systems makes it stand out from other assets.

Ripple Leader Reveals Untold Beauty of Bitcoin

Indice dei contenuti

U_Today

Altri articoli pubblicati su 29 lug 2024

Bitcoin Sentiment Soars to 16-Month High Amid Price Rally and Trump’s Crypto Vision

Hong Kong Police Arrest Four, Including 14-Year-Old, for Counterfeit Crypto Scam

Ripple to Unlock 1 Billion XRP Tokens Worth $609M on August 1 – Should You Buy Now?

Apple Intelligence may be absent from initial iOS 18 rollout: Report

Mt. Gox Users Report Surge in Unauthorized Login Attempts

Token unlock Alert! $1.5 billion worth tokens set to unlock in August

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!