Tuesday, January 16, 2018 4:48:11 PM
Digital Currency Is Still a Dream.
According to the website 99bitcoins.com, there are 89 companies that claim to accept Bitcoin as currency, including Subway, the Massachusetts Institute of Technology bookstore, and the Museum of the Coastal Bend in Victoria, Texas. But I can’t imagine anyone actually using it to pay for something. Who would use Bitcoin for a purchase when it might go up by $500 in the next 10 minutes? And who would accept Bitcoin when it could go down by $500 in the next 10 minutes?
Whatever the original intention, Bitcoin has morphed into an asset whose only purpose is speculation. “There is simply no way to predict what it will be worth,” said Pete Kight, a fintech investor who founded Checkfree in 1981. That is its fatal flaw as an electronic currency.
Or, rather, that is one of them. The other flaw is the very quality that many of its adherents love most about it: It operates separately from the government’s fiat currency. “I call it the tyranny of brilliance,” said Kight. “When you work in fintech, you often see engineering genius get out of synch with what works in the real world.”
In the case of Bitcoin, he said:
There is this thing called the Federal Reserve. Its first job is to protect the financial system of the United States. For a cryptocurrency to be successful, it has to work out with the Fed how it won’t undermine the banking system.
I can imagine that after the bubble bursts, Bitcoin will continue to be traded. Maybe a few of the other cryptocurrencies will have similar trajectories (though most will dissolve into nothingness).
http://tinyurl.com/ybspz2wj
Recent KODK News
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 08/23/2024 08:31:06 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 08/22/2024 04:15:10 AM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 08/08/2024 09:12:01 PM
- Form S-3 - Registration statement under Securities Act of 1933 • Edgar (US Regulatory) • 08/08/2024 09:08:28 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/08/2024 08:20:34 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/08/2024 08:15:37 PM
- Kodak Reports Second-Quarter 2024 Financial Results • GlobeNewswire Inc. • 08/08/2024 08:15:33 PM
- Eastman Kodak Company Second – Quarter 2024 Earnings Conference Call • GlobeNewswire Inc. • 08/01/2024 04:08:45 PM
- Kodak Photo Printer, Manufactured By Prinics, Maintains Amazon Bestseller Status: A Timeless Favorite • PR Newswire (Canada) • 07/08/2024 01:00:00 PM
- L'imprimante photo Kodak, fabriquée par Prinics, conserve son statut de produit à succès sur Amazon : Un favori intemporel • PR Newswire (Canada) • 07/08/2024 01:00:00 PM
- Kodak Photo Printer, Manufactured By Prinics, Maintains Amazon Bestseller Status: A Timeless Favorite • PR Newswire (US) • 07/08/2024 01:00:00 PM
- Kodak Photo Printer, Manufactured By Prinics, Maintains Amazon Bestseller Status: A Timeless Favorite • PR Newswire (US) • 07/08/2024 08:00:00 AM
- Form SD - Specialized disclosure report • Edgar (US Regulatory) • 05/31/2024 06:00:57 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/21/2024 08:37:02 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/21/2024 08:36:15 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/21/2024 08:35:44 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/21/2024 08:35:22 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/21/2024 08:14:37 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/16/2024 08:34:58 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/16/2024 08:34:34 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/16/2024 08:33:56 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/16/2024 08:33:29 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/16/2024 08:32:12 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/09/2024 08:19:18 PM
- Kodak Reports First-Quarter 2024 Financial Results • GlobeNewswire Inc. • 05/09/2024 08:15:32 PM
FEATURED Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • Sep 24, 2024 8:50 AM
FEATURED Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM