Friday, 05 June 2020
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During the first COVID-19 stimulus debate in late March, the US Congress discussed creating a digital dollar regulated by the Federal Reserve to increase the speed of stimulus payments to US households.

China’s central bank confirmed that some state-owned banks are conducting internal tests of a digital currency in four cities and hypothetical use for the 2022 Winter Olympics in Beijing, reported Caixin.

Binance announced the introduction of Binance Smart Chain (BSC). It will run in parallel to the exchange’s current Binance Chain and will enable support for smart contracts.

In a recent episode of the ‘Off the Chain’ podcast, co-founder and partner at the Morgan Creek Digital fund Anthony Pompliano spoke with billionaire and a prominent Bitcoin skeptic Mark Cuban.

Among other things, Pomp found out what changes would need to take place in the crypto sphere for him to change his mind and admit that Bitcoin was a valuable asset.

‘Bitcoin has to be easy to use without converting’

When Pomp asked Cuban what would have to happen for him to change his mind on Bitcoin, the first thing the billionaire mentioned was big utility and being easy to understand, even by not tech-minded users.

“It would have to be so easy to use. Bitcoin has to be completely friction-free and understandable to everybody.

Only in such a case, Cuban claimed, could you say that it is an alternative to gold as a store of value.

The second major hindrance to embracing Bitcoin that Cuban identified was:

“In terms of being a way to transact, whether it is just transfers of funds or whatever…you’ve got to be able to spend it. Right now, you still have to convert it to anything that you want. And as long as you have to convert it you are still dependent on fiat.”

Trading bananas is easier and so is turning gold into furniture

Earlier, in 2019, Mark Cuban stated that bananas are more useful than Bitcoin because you can eat bananas but BTC is not edible. This time, he repeated that joking statement, which reflects his attitude on the flagship cryptocurrency.


source: u.today

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