Ethereum Is No Different Than Fiat Money – Anthony Pompliano Asserts

Ethereum Is No Different Than Fiat Money – Anthony Pompliano Asserts
фото показано с : zycrypto.com

2020-3-4 00:25

Co-Founder and partner at Morgan Creek Digital, Anthony Pompliano has fired back at the Ethereum community for saying ETH is money. On his Off-chain page on Substack, Pompliano said ETH is no different than any fiat currency because it shares certain characteristics with fiat money that makes it more similar to fiat than it is to digital money.

“The issue is that Ether is no different than a fiat currency. Fiat currencies have (a) no fixed supply, (b) an inflationary supply schedule, and (c) monetary policy decisions that are decided by a small group of individuals.”

He went on to say the ETH monetary policy is based on time to time issuance of the asset as it does not have limited supply, making it exactly like the US dollar which is being pumped into the economy continuously, adding that it is also not a store of value either.

“The good news for those that believe in ETH as money is that every change to the supply schedule so far has REDUCED the new issuance rate, but the bad news is that the option is always available to increase the new issuance rate. This is similar to our current fiat monetary policies, where the decision makers can increase or decrease the production of new money coming into the system,” he said.

According to Pompliano, only Bitcoin and Gold have the characteristics of money and store of value at the same time. This is because their supplies are limited by design. Bitcoin has only 21 million coins that will ever be mined. So far, more than 17 million have been mined and nothing can be done to increase the supply. Gold also has a finite supply as it is non-renewable, unlike ETH.

While he agrees that DeFi movement is a crucial part of cryptocurrency ecosystem, he said the movement must create a better form of money compatible with the ETH-based DeFi movement, such as the creation of DAI and the idea of bringing Bitcoin’s monetary policy to ERC-20 form.

Anthony Pompliano is a Bitcoin bull and a strong proponent of the same. He has been on several television programs to defend his faith in the top cryptocurrency. He considers Ethereum to be much more volatile than Bitcoin ever was. On his verified Twitter handle, he wrote that he is an Ethereum fan for some positive attributes but not convinced that the cryptocurrency serves the correct purpose of money.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Money ($$$) на Currencies.ru

$ 0.0004099 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: -2.27 %
Cегодня L: $0.0004099 - H: $0.0004099
Капитализация $18.807k Rank 99999
Доступно / Всего 45.887m $$$

fiat money pompliano eth ethereum anthony different

Источник: zycrypto.com

fiat money → Результатов: 126


Why Cryptocurrencies Can Never Replace Fiat Money

Ever since cryptocurrencies broke into the world of finance and revolutionized it, they’ve been highly praised and pitched against fiat money most of the times. Cryptocurrencies and fiat currencies have many differences between them, but a more general one is that fiat currencies are inflationary, which sees money supply increase every year, whiles majority of […] The post Why Cryptocurrencies Can Never Replace Fiat Money appeared first on ZyCrypto.

2018-10-30 20:16


Ripple Reveals Another Global Financial Institution Using XRP-Powered xRapid

Ripple is building on its success and consolidating itself as the “bridge” between the blockchain ecosystem and traditional fiat money based payment processors. During the Swell Conference, after announcing the public release of xRapid, the Ripple team commented that there were already three important global payment processors already making real use of this technology.

2018-10-18 02:50


Litecoin Will Fly If It Makes The Most Of Social Media

The pursuit for cryptocurrency adoption seems to focus on three major cryptocurrencies, Bitcoin, Bitcoin Cash and Litecoin. Indeed, this isn’t to disregard the likes of XRP and Stellar, both of which also provide a solid use in mainstream society, however in terms of worldwide societal adoption, Bitcoin, Bitcoin Cash and Litecoin tend to be the go-to currencies.

2018-10-10 16:30


Фото:

"STREAMITY: Purchase / sale of NEO and GAS, listing on the exchange, as well as innovative trade of BTC"

There are many ways to buy or exchange cryptocurrency for fiat money: exchange services, crypto exchanges, as well as exchanges through private individuals. Unprotected transactions and high commissions are the first thing that digital gold owners can face, as well as people who are just making their first steps into the cryptocurrency world.

2018-10-4 08:49


CoinFast ICO

World’s First Decentralized ICO Platform Best Payments solution for ICO projects. CoinFast want to create the easiest way for people to participate ICO securely. We always work hard to be the best solution available on market ICO payment gateway is is a decentralized payment solution that helps ICOs accept payments in 80+ cryptocurrencies and fiat money (USD,EUR) ICO service allows you to create a fast and targeted ICO Platform with all the features required for the successfully launch of an ICO CoinFast is an innovative tech company, aiming to provide secure and convenient software solutions for ICOs.

2018-10-3 16:59


Crypto Exchanges Don’t Need Licenses in Colorado For Fiat, Positive Development

The State of Colorado recently released a special guidance that will eliminate the need for money transmitting licenses in crypto exchanges in cases when no fiat currencies are being involved. No Fiat Used — No License Needed Only days ago, on September 20th, a new interpretive guidance regarding the Colorado Money Transmitters Act’s applicability was.

2018-9-23 16:26


Фото:

Duke University Professor: A National Cryptocurrency Could Potentially Replace Paper Money

If a recent interview from a Duke professor is something to go by, the U.S. national fiat currency could soon be replaced by a national cryptocurrency. Per a report published by The Chronicle, dated September 19, 2018, Duke Fuqua School of Business’ professor, Campbell Harvey, not only believes that the United States should create a national cryptocurrency, but concludes that...The post %%POSTLINK%% appeared first on %%BLOGLINK%%.

2018-9-22 23:00


Фото:

Bank of America Charges Clients 6000 Times More in Fees Than Bitcoin

While Bitcoin critics claim the cryptocurrency is too expensive to use for transactions, data from Bank of America (BoA) shows traditional fiat transfers cost 6000 times as much. $90K Transfer: $45 With A Bank, 75 Cent With Bitcoin BoA, along with other domestic US institutions, makes use of the Federal Reserve’s money transfer network FedWire, which charges them a maximum of 83 cents to process a payment.

2018-9-20 00:00


Фото:

Bitfinex Announces Two New Dexes

One of the biggest problems facing crypto is the barriers to entry. Although blockchain transactions are easy enough, getting your money on the blockchain is a different story: buying a new token with fiat can involve two or three sets of transactions, not to mention the KYC and requisite finger-crossing while you wait to find […] The post Bitfinex Announces Two New Dexes appeared first on Crypto Briefing.

2018-9-17 19:07


Binance анонсировала запуск бета-тестирования криптобиржи с поддержкой фиата

Во вторник, 18 сентября, крупнейшая по объемам торгов биткоин-биржа Binance запустит в Сингапуре закрытое бета-тестирование новой торговой платформы с поддержкой фиата. Соответствующее заявление глава Binance Чанпен Чжао сделал в минувший уикенд, отметив, что тестирование будет доступно только по инвайтам.

2018-9-17 09:58


Binance приступает к закрытому бета-тестированию новой биржи с поддержкой фиата

Во вторник, 18 сентября, крупнейшая по объемам торгов биткоин-биржа Binance запустит в Сингапуре закрытое бета-тестирование новой торговой платформы с поддержкой фиата. Соответствующее заявление глава Binance Чанпен Чжао сделал в минувший уикенд, отметив, что тестирование будет доступно только по инвайтам.

2018-9-17 09:26


Фото:

No, the EU is Not Issuing a State-Backed Cryptocurrency

Mario Draghi, President of the European Central Bank (ECB), said that the authority does not see a “concrete need” for a digital token alternative to the euro, according to Reuters. No Time for Crypto Highlighting the stability of fiat money and the infamous volatility of cryptocurrencies, Draghi told parliament members that a lack of robustness […] The post No, the EU is Not Issuing a State-Backed Cryptocurrency appeared first on CryptoSlate.

2018-9-16 22:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin breaks $82,000 boosted by Trump’s re-election win

Bitcoin’s upward trajectory follows Donald Trump’s presidential win last week Over the past 30 days, Bitcoin has increased in value by more than 30% Institutional interest is rising with Bitcoin ETFs, noted by BlackRock’s IBIT ETF reaching $1.