Connect with us

Blockchain

Noted Skeptic Paul Krugman Challenges Binance CZ CEO On Master Cryptocurrency Lesson

Avatar

Published

on

join us cable A channel to stay up to date on breaking news coverage

Paul Krugman, an economist, kicked off a 30-minute conversation with Changpeng “CZ” Zhao, CEO of Binance, by saying, “I’m part of the crypto-skeptic community, I guess you’d say.” The conversation is made for a new MasterClass course.

Krugman, who last week wrote a column for the New York Times calling the hype surrounding cryptocurrency and blockchain technology a “tragedy” that led to “waste on an epic scale,” makes an excellent sparring partner for CZ’s online class. Decrypt had access to the MasterClass’ fifth lesson, which featured professionals.

when it comes to b encryptionHe was skeptical:

Advertisement

Our rap has always been that we can’t see the problem you’re solving, what you’re really doing that we’re really not doing, or how – to the extent there is a problem – it can be solved better than other traditional approaches.

Zhao responded by noting that the original idea behind Bitcoin and cryptocurrency was Offers a new way to transfer valuemuch like the Internet is a new way to share information.

Bitcoin, specifically, is a slightly better form of money – it fixes some of the problems we have with money today due to limited supply, not easy to use, not a lot of freedom, not very low fees – Zhao

Zhao added, “If you think about global trade, international remittances, remittances, micropayments, etc. To be quite honest, payments were originally thought to be the primary use case for bitcoin, but it didn’t really work out.” However, other use cases, he added.

CZ reported how non-fungible tokens, or NFTs, can be used in cryptocurrency to generate millions of dollars in funding and revenue streams for artists.

A trustworthy entrepreneur can raise the equivalent of $10 to $20 million in cryptocurrency in a matter of days using cryptocurrencies, he claimed.

Advertisement

It’s a global fundraiser. It is easier for entrepreneurs to raise money globally.

Krugman continued to be brave.

“I’m confused — it’s not clear why blockchain technology should make it easier to raise money in and of itself,” said Krugman. He added that the idea may only seem plausible due to the popularity of cryptocurrencies.

“I think the main big difference is the cross-border of this technology,” Zhao said, noting the difficulty of making cross-border payments with traditional banking. “Blockchain offers that, and I think that is the main reason.”

Advertisement

Technical versus regulatory issues

The Binance CEO emphasized the disparities in economic opportunities around the world by comparing the booming US economy to the economies of China, Vietnam, and African countries.

According to Zhao, SWIFT’s international fees, among other factors, make it very difficult for someone living outside the US to send money there.

Isn’t this basically just a way to bypass regulations that governments, for whatever reason, thought fit to put in place? But [that isn’t] Not a technological issue, but an organizational one,” Krugman argued.

While regulations are part of the problem, Zhao said he believes it is a legacy issue and an issue with the high cost of sending money from one country to another.

The mechanisms for doing so are a big challenge for traditional financial services, he said, adding that there is nothing legally preventing us from investing in a project, for example, for someone in Dubai to invest in a project in South Africa.

Advertisement

Zhao said that as technology makes the world smaller, entrepreneurs can access a global liquidity pool using blockchain technology.

“Why don’t you simply reform the banking rules?” compare the problem to cell phones and how two US carriers can have different policies in the same regions, Krugman asked.

In addition, Krugman questioned why it took so long for people to adopt bitcoin compared to developments like the Internet, saying that the claim that cryptocurrencies are still in their infancy is outdated.

We were all living online by 2008, according to Krugman, who compares it to the internet in 1995. Thirteen years ago, in 2009, bitcoin was invented.

Zahau agreed that Krugman has a valid point, but also noted that the US Advanced Research Projects Agency Network, or ARPANET, developed the Internet in the 1960s, and the US military began using email in the 1980s.

Advertisement

“It appears that the problem is with governments and regulations, not technology,” Krugman replied, indicating that he would become a believer in cryptocurrency if he could get through immigration faster when he travels to Europe. “The problem is that it’s not transferrable, and blockchain won’t help,” he added, noting the ease with which travelers using Global Entry can enter the US.

Many cryptocurrency enthusiasts cite the 2008 financial crisis as justification for the necessity of bitcoin and the sector it spawned. However, some questioned whether it was realistic to assume that the average person would understand the technology and its financial implications.

What’s interesting is that instead of responding to the 2008 financial crisis and other disasters with education, we instead implemented Dodd-Frank, which aims to put more of the financial system under prudential regulation.

Wouldn’t the upshot of it all be that we shouldn’t count on high school students to graduate knowing everything you tell me about? question.

Zhao replied, “It’s not black and white. I think it is very important from a regulatory perspective that regulations continue to evolve with new technologies and new industries in order to protect consumers.”

Advertisement

In addition, Zhao said that people should learn self-defense skills.

There is no perfect solution. While I don’t think education will solve every problem, it will help a little bit – Chow

There will be a gradual expansion of the regulatory network, Krugman said, adding that he believes most cryptocurrencies are used for regulatory evasion and avoidance. However, he believes that cryptocurrencies will survive, “but they are indistinguishable from regular finance.”

Founded in 2004, MasterClass is an American online education subscription platform that provides pre-recorded lessons and lectures by experts in various fields. The “Cryptography and BlockchainThe MasterClass also includes sessions led by Coinbase President and COO Emilie Choi and Chris Dixon, General Partner at Andreessen Horowitz.

Related

Dash 2 Tadawul – High Potential Pre-Selling

Advertisement

  • Active pre-sale is live now – dash2trade.com
  • The original code for the crypto signals ecosystem
  • Know Your Customer verified and reviewed

Dash 2 Trading


join us cable A channel to stay up to date on breaking news coverage



Source link

Advertisement

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published.

Blockchain

BNT/USD is trading near the $0.50 resistance

Avatar

Published

on

By

join us cable A channel to stay up to date on breaking news coverage

The Bancor price prediction shows that BNT is crossing the 9-day and 21-day moving averages while the coin is taking off to the upside.

Bancor Prediction Statistics Data:

  • Bancor price now – $0.34
  • Bancor’s market capitalization is $55.8 million
  • The circulating supply of Bancor – 162.5 million
  • The total supply of Bancor – 162.5 million
  • Bancor Coinmarketcap Ranking – #287

BNT/USD market

Key levels:

Resistance levels: $300, $310, $320

Support levels: $130, $120, $110

Advertisement
BNTUSD – daily chart

BNT / USD It is currently trading at $0.345 after touching a daily high of $0.490, and is likely to return above the 9-day and 21-day moving averages. However, in case the buyers can push the price above the $0.50 resistance level, then the daily candlestick may close above this level, and the price may rise towards the upper boundary of the channel.

Bancor Price Prediction: Bancor is preparing for an upward movement

According to the daily chart, the Bancor price It is moving near the $0.40 resistance level as the coin is preparing for additional gains. The technical indicator’s RSI (14) is also moving to cross above the 50 level, where the signal line is pointing up to signal a buy signal.

However, if buyers are able to push the price and hold it above the 9-day and 21-day moving averages, Bancor price could rise towards the upper boundary of the channel to reach the potential resistance levels at $0.50, $0.55, and $0.60. While crossing below the lower border of the channel, it could lift the currency to the support levels at $0.25, $0.20, and $0.15, respectively.

Against Bitcoin, Bancor is following a bullish rally, and it could swing higher to cross above the upper boundary of the channel that could identify the resistance at 2400 SAT and above. On the other hand, if the market price crosses the lower boundary of the channel, it may reach the support level of 1800 SAT and below.

BNTBTC – Daily Chart

However, the technical indicator’s RSI (14) is currently moving to cross above the 50 level as the signal line is pointing north to confirm the upward move. Moreover, any further upward movement may create additional gains above the channel.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

Related

Dash 2 Tadawul – High Potential Pre-Selling

Advertisement

Dash 2 Trading
  • Active pre-sale is live now – dash2trade.com
  • Featured in Cointelegraph – $10 Million Raised
  • Know Your Customer verified and reviewed
  • The original code for the crypto signals ecosystem

Dash 2 Trading


join us cable A channel to stay up to date on breaking news coverage

Advertisement

Source link

Continue Reading

Blockchain

DYDX/USD could rise above $1.20

Avatar

Published

on

By

join us cable A channel to stay up to date on breaking news coverage

Since the coin starts the upward movement towards the upside, the dYdX price forecast is likely to move steadily inside the channel.

dYdX prediction stats data:

  • DYDX price now – $1.10
  • DYDX market capitalization – $72.7 million
  • Circulating supply of DYDX – 65.5 million
  • Total supply of DYDX – 1 billion
  • DYDX Coinmarketcap Rank – #198

DYDX/USD Market

Key levels:

Resistance levels: $2.00, $2.20, $2.40

Support levels: $0.50, $0.30, $0.10

Advertisement
DYDXUSD – daily chart

DYDX/USD is likely to cross above the 9-day and 21-day moving averages as the currency begins its upward movement. in the past few days, dYdX price Struggles to cross over to the positive side. According to the daily chart, the RSI (14) technical indicator moved to cross above the 40 level, confirming the bullish movement of the currency.

dYdX Price Prediction: DYDX is ready for an uptrend

the dYdX price It is currently moving north. If the currency continues its upward movement, the bulls may cross above the 9-day and 21-day moving averages, which could reach the resistance levels at $2.00, $2.20, and $2.40. At the time of writing, DYDX/USD is showing a slight bullish movement on the daily chart.

Conversely, if the coin slips below the lower boundary of the channel, it may bring the coin back to the $0.50, $0.30, and $0.10 support levels, respectively. Meanwhile, long-term buyers should not be alarmed by the small impact down the road, as the future of DYDX is assured as evidenced by the technical indicator’s RSI (14).

Against Bitcoin, dYdX price is hovering below its 9-day and 21-day moving averages as the coin is poised for an upward move. The technical indicator’s RSI (14) also confirms the upward movement as the signal line encounters the 40 level. On the contrary, a potential downside move could emerge if the market price crosses below the lower boundary of the channel, which could reach the support level 200 SAT and below.

DYDXBTC – Daily Chart

Meanwhile, any further bullish move above the moving averages could push the coin to the 1200 SAT resistance level and above, and this could take the coin to a new high, and the market could remain in the bullish zone.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

Related

Dash 2 Tadawul – High Potential Pre-Selling

Advertisement

Dash 2 Trading
  • Active pre-sale is live now – dash2trade.com
  • Featured in Cointelegraph – $10 Million Raised
  • Know Your Customer verified and reviewed
  • The original code for the crypto signals ecosystem

Dash 2 Trading


join us cable A channel to stay up to date on breaking news coverage

Advertisement

Source link

Continue Reading

Blockchain

SBF to Enter Plea Deal, Mango Exploiter Arrested, Celsius News: Hodler’s Digest, Dec. 25-31

Avatar

Published

on

By

Source link

Advertisement
Continue Reading
Advertisement

Trending