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‘Investing in Bitcoin [BTC] is like gambling’ – Says Paypal’s former CEO

Arjun B

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'Investing in Bitcoin [BTC] is like gambling' - Says Paypal's former CEO
Source: Pixabay

Bill Harris, the Founder, and CEO of Paypal Holdings Inc [PYPL] has lashed out at Bitcoin [BTC], saying “this is a scam”. He says that the new age digital currency is not an effective means of payment and it will not serve as a great store of value. The main reason is due to its nature of being “Volatile”, says Bill.

Bill Harris has also served as CEO of Intuit [INTU] and Co-Founder of Personal Capital Corporation.

He mentioned that:

“Bitcoin is more of a gamble than an investment and the investors are drinking the Kool-Aid.”

However, he supports Blockchain technology, but he strongly refuted all the reasons promoters of bitcoin were putting forward. He says that there is an issue with the usefulness of the new digital currency with the currency’s value.

Bitcoin [BTC] price had increased rapidly by 1,300 percent and reached nearly $20,000 in 2017. But the coin also faced a massive downfall since the beginning of 2018 and reached up to $6,000.

Bill Harris has given this statement after the prominent New York University economist, Nouriel Roubini called bitcoin “the biggest bubble in human history”. Roubini has also expressed his views earlier this year about the cryptocurrency market.

According to some of the promoters of bitcoin, “Scarcity” is the main reason why its value is increasing. Based on various sources, they say that only 21 million bitcoins can ever be created and at present, the 17 millionth bitcoin is going to be mined soon.

Bill Harris in response argues that:

“My autograph is scarce, I promise that I will never autograph a piece of paper more than 21 million times. But it does not make it valuable.”

He also added:

“There’s the currency like bitcoin then there’s the technology. Blockchain technology has terrific applications, including financial transactions but we don’t need a new currency to do it.”

 

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Bitcoin

Deutsche Boerse adopts Bitcoin [BTC] even with the volatile market

Arjun B

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Jeffrey Tessler of Deutsche Boerse adopts Bitcoin even after the volatile market
Source: Pixnio

The Chief Executive Officer of Clearstream and a member of the Executive Board of Deutsche Boerse, Jeffrey Tessler contemplates on offering cryptocurrency products. The executive board member of the German company which provides services for derivative markets and equity trading, in an event on Wednesday, talked about adopting cryptocurrency.

Currently, there are a lot of financial institutions taking a dip into cryptocurrency and blockchain technology, with benefits like cheaper trade fees and peer to peer network. This is due to the total and obsolete emergence of Bitcoin in people’s lives and economic trades companies are adopting the technology.

According to the market report the company has been battling with other derivative companies such as Cboe Global Markets Inc. and CME Group Inc. He believes that there have not been much of regulatory effects from the regional authorities as the market is nascent.

The event was held in London which was organized by the Association for Financial Markets in Europe.

Jeffrey Tessler during the event says:

“Before we move towards the Bitcoin market, we want to make sure we understand the underlying transaction which isn’t the easiest thing to do.”

He also said that the company is working with the cryptocurrency.

Later in the event, he added that:

“We want to understand the volatility and make sure clients are in line and make sure regulators are in line.”

Garisson a Redittor says:

“Crank up and cramped up banks are the way to be behind the crypto-game. The involvement of institutions is a bad sign as more regulatory standards will be I posed…making it further non-decentralized.”

Sara a Redittor says:

“I believe that derivative and equities are dropping into the cryptocurrency and blockchain game because of the emergence of this new industry. Goldman has to lead the way for the stock market to follow now everyone is gonna adopt the new technology of crypto. I believe that the ones who  reject to evolve will have a major market collapse.”

Wesley Willam Cryptocurrency enthusiast tweeted:

“Bitcoin is gonna pop like a big bubble as it is observed that the market is not volatile and is falling at the steep rate. There is hope for blockchain but no Bitcoin. Maybe altcoins have a future.”

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Altcoins

First Dutch company to accept Bitcoin [BTC] and Neo [NEO] – ProSeo

Sarah Rodrigues

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Proseo goes "Pro" crypto- the first Dutch company to accept Bitcoin and Neo.
Source: Wikimedia Commons

In the world where Search goes Digital, ProSeo is a search engine optimization agency which specializes in search engine marketing. It is a Dutch company based in Ireland and is an SEO specialist since 1999.

ProSeo and Web design are the top ranking SEO Companies who provide SEO services in Ireland. The Search Engine Optimization Company is also partnered with Google and is ranked 1st in Google as “Seo Company”, “Seo Agency” and “Seo Services”.

Proseo's tweet. Image Source: Twitter.

Proseo’s tweet.

The company provides professional and presentable services with their experienced Irish Consultants who are aware of their Irish Market. It has a close team of specialists with extensive experience and talents.

The company has gained the title of being the 1st SEO Company to accept cryptocurrency as their payment method. They accept the cryptocurrencies Bitcoin [BTC] and Neo [NEO] for now. However, they are currently investigating whether the company can make payments with other cryptocurrencies as well.

Since ProSeo keeps a close watch of new technological developments in the world, it’s logical for them to apply to the world of digital payment of transactions.

SeaOfDeadFaces, a Reddit user commented:

“My first thought as well. I can imagine that only being able to charge people in increments of NEO means customers are either getting a great deal or shafted, depending on how the company rounds.”

stuartwitherspoon said:

“That’s great but wouldn’t GAS be the better option? I don’t see how this is practical with neo being non-divisible.”

l4ur1ds said:

“I’d love to accept GAS in my neo merch store. Does anybody know how I could accomplish that? The major payment gateways only accept BTC or ETH.”

They reported that Bitcoin and Neo are extremely safe and reliable. They believe that Bitcoin is an investment opportunity in view of the fact of its rapidly increasing value. It is unfortunate that there is a finite number of companies in the Netherlands who accepts cryptocurrency as a form of payment.

Proseo offers a simple method of transaction. The amount of payment by the customer is calculated on the basis of the rate of the largest exchange. Once they complete this, Proseo’s wallet address is sent to the customer to make the payment. The company does not calculate an exchange fee for such transactions.

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