Blockchain

A look into Mark Cuban’s evolving beliefs about Bitcoin & crypto assets

The post A look into Mark Cuban’s evolving beliefs about Bitcoin & crypto assets appeared first on AMBCrypto.

Published

3 months ago

February 1, 2021

“The store of value generation” is what entrepreneur Mark Cuban termed young crypto investors as. In a blog explaining this narrative, the billionaire today seemed to caution older generations and Wall Street stalwarts. He stated why the idea “that a crypto asset could be a store of value” is not “crazy.”

Old Schoolers say that you need to have something “tangible” in order for there to be value and we will deal with fraud after the fact. The New Generation…has known their entire lives that what has been of greatest value to them has been digital .

According to Cuban, a stock was also a “digital store of value” and further said:

They also know that the more they work together , the less power Wall Street has. They know that fat and happy Wall Street has become slow, stale and set in their ways.

Cuban believed that Bitcoin “having a decade-plus long history of transactions and wealth generation’’ was a store of value. Young investors don’t find it any different in getting advice from peers on social media hubs or from an influencer speaking on mainstream media. He believed that the modern investors know how a smart contract and the digital asset it reflects “are a better investment than the old school narrative of “STFU” or see, touch or feel uses.

Cuban’s opinions are in stark contrast to gold advocate Peter Schiff’s who has often criticized Bitcoin as a bubble and a Pyramid scheme. In a recent tweet he implied that the investors in the digital were actually falling for a “Bitcoin scheme.

Bitcoin is neither a Ponzi Scheme, a Pyramid Scheme, nor a Chain Letter, though it incorporates elements of all three. It’s really a more sophisticated version modernized for the digital age. My guess is that in the future similar schemes will be referred to as a #Bitcoin Scheme.

— Peter Schiff (@PeterSchiff) January 28, 2021

Mark Cuban’s evolving beliefs about crypto assets, Bitcoin in particular began in 2019 when Cuban referred to the asset as a collectible. At the time, he gave Bitcoin “no chance” of becoming a reliable currency. However, he recently claimed that as long as people accepted Bitcoin “as a digital version of gold,” it was investable. He still maintained that such assets “are rarely used as currency” such as Bitcoin, Ether and “tokens” that “support DeFi.”

Source: https://ambcrypto.com/a-look-into-mark-cubans-evolving-beliefs-about-bitcoin-crypto-assets

Related Topics:Bitcoin blockchain investors Transactions

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Blockchain

Bitcoin can be purchased with MoneyGram using Coinme ATM operators

TL;DR Breakdown • MoneyGram will work with physical cryptocurrencies.• Coinme expects to expand its crypto operations globally by 2022. The North American money transfer company, MoneyGram, announced its merger with Bitcoin last Wednesday. This company will allow its clients to buy in Bitcoin and withdraw their holdings of the crypto converted into cash. This measure […]

Published

25 mins ago

May 12, 2021

Republished by BiBi

TL;DR Breakdown

• MoneyGram will work with physical cryptocurrencies.
• Coinme expects to expand its crypto operations globally by 2022.

The North American money transfer company, MoneyGram, announced its merger with Bitcoin last Wednesday. This company will allow its clients to buy in Bitcoin and withdraw their holdings of the crypto converted into cash. This measure is applied globally so the Bitcoin investor will have freedom in withdrawing cash.

This news has captivated many merchants with a long relationship with North American banking. For the process to complete, MoneyGram had to partner with Coinme, the largest crypto exchange in the United States. With this huge collaboration, Coinme promises to support over 20 thousand physical locations in the country.

Coinme and its partnership with MoneyGram to give Bitcoin

Alex Holmen, SEO at MoneyGram, said this partnership with Coinme opens up a new space for crypto investors to profit. The company wants the digital currency to become a fiat currency, such as the dollar or the euro. However, the volatility of Bitcoin and other cryptocurrencies is not compared to that of local currencies.

The new service will be rolled out to all MoneyGram locations in the United States in the coming months. Coinme also plans to take this method globally, partnering with other crypto exchange companies.

MoneyGram points out that it has 150 million users around the world. This popularity of the company will increase as the new Bitcoin withdrawal system is known.

MoneyGram joins the Bitcoin business with other companies

The American company was founded in 1940, and its headquarters are in Dallas, Texas. MoneyGram competes with Western Union to be the best national and international transaction company.

For the year 2017, MoneyGram became interested in cryptocurrencies, and since then, it has grown in popularity. Although the company’s guidelines with handling Bitcoin are not clear, their intentions could be very good.

The international transaction company joins the crypto game after other similar companies have seemingly invaded. For February, Mastercard said it would support cryptocurrencies starting this new year. This slight attraction is achieved after Bitcoin had a rise that would take it to reach its all-time high in price.

But PayPal also announced that it would work with Bitcoin to make the purchase/sale more secure. These American crypto pioneers are making good decisions that attract traders. Since October of last year, cryptocurrencies can be bought in the PayPal wallet.

MoneyGram will release an official statement when its crypto transactions are approved. After the announcement, Bitcoin and other cryptocurrencies are expected to increase in value and reach new all-time highs.

Going from buying digital to physical cryptocurrencies can be a great idea and provide secure storage. Coinme has a great reputation in American exchange banking and is a great partnership with Moneygram.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptopolitan.com/bitcoin-can-be-purchased-with-moneygram/>

Blockchain

Goldman Sachs executive resigns after making a fortune from Dogecoin

TL;DR Breakdown Aziz McMahon makes fortune from Doge investment Doge metric rise over the year Aziz McMahon is another person who has hit the jackpot thanks to his Dogecoin crypto investment, as he reportedly made millions from the meme coin. The London-based executive took a bow from his job with the bank after working with […]

Published

36 mins ago

May 12, 2021

Republished by BiBi

TL;DR Breakdown

Aziz McMahon makes fortune from Doge investment
Doge metric rise over the year

Aziz McMahon is another person who has hit the jackpot thanks to his Dogecoin crypto investment, as he reportedly made millions from the meme coin.

The London-based executive took a bow from his job with the bank after working with the financial institution for more than 14 years, his LinkedIn profile shows, according to eFinancialCareers.

According to the site, McMahon might be starting a hedge fund that cited sources at Goldman as he is yet to respond to requests for comment, but Goldman confirmed his departure to Insider.

Also, the exact amount McMahon made from his Dogecoin holdings was not made public. Sources claimed that it was a substantial sum, pointing out that DOGE rallied over 1,000% in value this year.

The former Goldman Sachs executive made his Dogecoin fortune trading with a personal account and was not affiliated to Goldman Sachs.

Dogecoin metric rise over the year

Although at press time, the meme coin is on a decline and has been over the past seven days, however, this does not diminish the success the meme coin has enjoyed so far in the year.

The meme coin has recorded landmark gains outstripping the largest cryptocurrency, Bitcoin (BTC), in the number of related internet search queries.

Doge has emerged as the fastest-growing digital currency since 2021, began posting up to 13,500% growth year-to-date, and surging from just $0.005 to an all-time high of $0.68 on May 7.

Dogecoin’s recent tumble came after Musk called the meme token a “hustle” on SNL, adding that it’s “as real” as a dollar bill. However, the meme coin is having a run for its recent surge as a clone, and rival coin, Shiba Inu, has been surging above it recently.

The coin has broken to a new ATH but has seen a 13 percent decline at press time.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptopolitan.com/banker-resigns-after-fortune-from-dogecoin/>

Blockchain

BitMEX Executives to Face Trial in March 2022

BitMEX’s former executives Arthur Hayes, Benjamin Delo, and Samuel Reed will face trial in March 28th, 2022.

Published

42 mins ago

May 12, 2021

Republished by BiBi

The executives of the derivatives trading platform – BitMEX – will face trial in March next year. The money laundering case will come 18 months after charges were first filed. The former members of BitMEX can face up to 5 years in prison and a $250,000 fine if found guilty.

The Trio Heads to Trial

Last year, US officials accused the CEO of the company Arthur Hayes, the co-founder Benjamin Delo, and the chief technology officer Samuel Reed of violating the Bank Secrecy Act. Moreover, the members of BitMEX were served with money-laundering charges.

On May 11th – 18 months after the first accusations against them – New York District Judge John Koeltl set the trial date for March 28th, 2022. Furthermore, Gregory Dwyer – BitMEX’s head of business development – also faces charges but will appear in court separately.

Even though the company’s headquarters are in the Seychelles, the US Department of Justice accused BitMEX of failing to apply anti-money laundering procedures while doing business with US-based customers.

Interestingly enough, the ex-CEO of BitMEX – Arthur Hayes – said that the exotic island was a more convenient place for business as it was much easier to bribe Seychelles’ authorities rather than the US ones. The former executives of the cryptocurrency exchange could face a maximum of five years in prison and a $250,000 fine.

Where Was Arthur Hayes?

Attorney Jessica Greenwood told the court that Hayes has ”discussed a surrender date of April 6th, 2021 in Hawaii.” She added that ”the plan is to notify the Court in advance of that appearance and discuss logistics” around his submission.

As CryptoPotato reported, even after his remote announcement Hayes continued to reside abroad and explained that he would only visit the United States whenever has to face the trial in New York.

In the end, the former BitMEX CEO indeed turned himself in on April 6th, 2021. However, the officials released him on a $10 million bond pending the future court process.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/bitmex-executives-to-face-trial-in-march-2022/