“[Since] merchants are still cashing out in fiat and Fold is handling channels on behalf of users, it’s unclear how the economics of such services will play out as usage increases. After all, keeping channels open locks up precious bitcoin.
As such, the jury is still out on whether Sheinfeld’s vision of building a “lightning economy” over the next five years is remotely probable.
Although some hobbyist node operators currently make a few dollars a month in bitcoin, via routing fees, Lightning co-creator Dryja told CoinDesk that providing such services probably won’t be a profitable business model, even if adoption increases.
Dryja stopped working on the open-source technology last year because he felt the current development process, spearheaded by Lightning Labs and Blockstream, diverged from his vision for the bitcoin scaling solution.
I worry the lightning network has been overpromised.”
“The new service will enable Binance users to deposit their token holdings and earn staking rewards, but without having to set up their own nodes to fulfill minimum staking amounts and/or time lengths.
You literally don’t have to do anything. Your funds on Binance automatically participate. You can still trade as you normally would.”
“So why would people own Bitcoin if they can own a digital dollar?
Pompliano said that he ultimately believed that people would opt for something that is not manipulatable, nor seizable, nor censorable. The movement may be slow at first, he said, but people will ultimately choose a currency that the government can’t control.”
“Mark Cliffemight, speaking in an ING video published Friday, argued that the Facebook-led Libra cryptocurrency project is putting pressure on monetary authorities. With Libra slated for launch in 2020, central banks would have to make a move in that timeline.
I think we’ve already got some sense of urgency amongst the policy community.
It would ‘open up a whole range of policy options,’ the economist said, as well as providing other ways to support economic activity in a future downturn.”
“Stocks of China’s fintech firms have seen a notable surge this year amid investors’ anticipation of China’s launch of its own digital currency as well as the demand it would generate for security and payment services.”
“According to the announcement, the WDMM will be the first global network to connect mining hardware owners with mining farms who will provide the available power resources to host them for a fee.
In turn, network members will get access to a number of personalized services from Bitmain, including assistance with mining farm design, connections to foreign clients to host, and support with operations, purchasing, and construction.”
“As part of the pilot, MediConnect will integrate online pharmacy UK Meds’ processes into its blockchain-based platform, allowing thus to trace products through its supply chain and prevent the misuse of prescription medications.
Earlier this year, the Ugandan government partnered with MediConnect to trace counterfeit drugs in the country.”