Published at LXer: Digital Assets is a GUI that lets you monitor movements in the prices of cryptocurrencies. The program is written in Python. The Chechen leader Ramzan Kadyrov shared some harsh comments about cryptocurrencies amid growing interest in the technology amongst Chechnya’s citizens. According to Pravda, Kadyrov claimed that the media is presenting crypto “as the new gold,” provoking what he calls a kind of Bitcoin (BTC) “fever”: “People take loans, save on themselves and their families, invest […] By Anna Peel. Originally published at ValueWalk. Cryptocurrencies are a rather new form of investment. The majority of experts consider Bitcoin to
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Here’s why the Head of the Chechen Republic has such a strong disdain for cryptocurrencies
The Chechen leader Ramzan Kadyrov shared some harsh comments about cryptocurrencies amid growing interest in the technology amongst Chechnya’s citizens.
According to Pravda, Kadyrov claimed that the media is presenting crypto “as the new gold,” provoking what he calls a kind of Bitcoin (BTC) “fever”:
“People take loans, save on themselves and their families, invest their last money in digital assets that promise incredible profits.”
The head of the Chechen Republic, a federal subject of the Russian Federation, also warned that excess profit is tied with “big risks.” He also claimed that over the past month, “Bitcoin has depreciated in half” — a statement which can be disproven by anyone with a quick Google search.
Kadyrov said that people dream of easy money, and this creates a false promise of wealth that crypto does not offer and has never offered. He further added:
“I am more worried about the moral side of such investments. A person who invests in cryptocurrencies expects their value to grow many times. But why is that person waiting for this? Did the person work hard to get this profit?”
The Chechen leader also pointed out the “greed of people” who have boosted the price of crypto. He claims these people are “trying to attract new investors and profit from their greed,” and ultimately stressed that he won’t support any projects which utilize digital assets.
Russia recently passed its first major legislation devoted to cryptocurrencies, though the country’s central bank continues to treat the industry as a criminal area.
Taking a similar stance, Sergei Shvetsov, the first deputy governor at the Bank of Russia, compared cryptocurrency to financial pyramid schemes and roulette games.
Why Cryptocurrencies Could Represent the Next Big Investment Push
By Anna Peel. Originally published at ValueWalk.
Cryptocurrencies are a rather new form of investment. The majority of experts consider Bitcoin to represent the first cryptocurrency to come into existence, as its roots can be traced back to 2009. However, this rather youthful market sector has also led to some serious returns over the years. Not that we are witnessing other currencies such as Ethereum and Ripple gain clout, it stands to reason that investors who are keen on leveraging short-term trading opportunities have taken an interest. However, there are a handful of other reasons why these digital transactions could very well take center stage in the years to come. Let us examine a handful of market factors which have led to their increased popularity.
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The digital retail community has dramatically increased in size over the past decade and this sense of forward momentum shows no signs of slowing down. Primarily driven by online consumer demand, many traditional brick-and-mortar businesses have transitioned into the virtual marketplace. Thus, it stands to reason that the ability to purchase items with the help of cryptocurrencies has become a viable option for many individuals. This is also why major online e-commerce platforms such as Shopify Plus have been eager to adopt such payment methods.
It is impossible to speak about the growth in digital transactions without also mentioning the recent global health crisis. As many stores have been forced to shutter their doors for extended periods of time, digital purchases have become even more relevant. However, we also need to look to the horizon. This trend has become so entrenched within modern society that even when things return to a so-called “new normal”, many consumers will remain loyal to their online transactions. If anything, the coronavirus outbreak has only served to speed up a trend that was already gaining pace.
Trading cryptocurrencies likewise offers a fair share of advantages including:
So, it becomes clear to see that these digital currencies are here to stay. The main question involves how many traders will adopt them into their current strategies. Some may still experience a slight amount of hesitance due to a lack of centralized regulations as well as the volatility that can sometimes be paired with this sector.
However, there is no doubt that digital currencies such as Bitcoin and Ethereum are becoming increasingly popular alternative forms of investments. Whether used to incur a short-term profit or as a means to enjoy long-term revenue generation, cryptocurrencies will continue to make headlines throughout the investment community.
This is why it will be quite interesting to see if future regulations may be more stringent due to a larger influx of investors. Either way, these assets are indeed interesting opportunities to consider.
The post Why Cryptocurrencies Could Represent the Next Big Investment Push appeared first on ValueWalk.