1/6/2024 0 Comments Coin flip bitcoin![]() The Biden administration, on the other hand, has come out with a statement saying how the U.S. economy has shrunk for two consecutive quarters, which technically means that we're already in a recession. The Federal Reserve's intended objective is to pump the brakes on inflation without bringing the economy into a recession, with what is known as a "soft landing." But some investors don't believe that this is a realistic scenario. ![]() That's because not only is its long-term potential absolutely massive, but within the next 12 months or so, we could see more favorable monetary policy. In crypto specifically, developer activity should continue to remain strong regardless of what prices are doing.Ĭonsequently, for someone who has cash sitting on the sidelines that they're ready to put to work, buying Bitcoin, which has fallen 65% from its all-time high last November and is in a major bear market, might be a sound financial decision right now. Like bubbles that burst in traditional financial markets, this is when faulty, scam-like, and unsustainable projects and companies get shaken out, and the strongest teams and enterprises will survive. During this time, money usually flows out of the space as investor interest wanes. It helps explain why the Nasdaq Composite, a tech-heavy stock index, has lost 17% in 2022, about double the S&P 500 's drop (as of this writing).Ī prolonged period of weak crypto prices is known as a crypto winter. This is because in this environment, investors lean toward safer assets, like Treasury bonds and even cash instead of more speculative financial instruments like growth tech stocks or cryptocurrencies. One day, the startup hopes to offer a single device that enables users to pay with any method they like.To be clear, as long as the central bank continues hiking interest rates in order to slow down inflation that's at 40-year highs, I see Bitcoin remaining under pressure. The vision is to extend this capability to any device that’s attached to FitPay’s platform, Pereira said. Future iterations will likely introduce more security features, like two-factor authentication, as devices become capable of carrying larger sums. He said this is just the first iteration of the device, with other form factors coming down the line. Pereira said that the Flip coin could help socialize the idea of using bitcoin in the real world, and that it would be attractive to users because it transforms what was previously just an investment vehicle into something with utilitarian value. Furthermore, added Pereira, the coin can be disabled from the app if the user discovers it is missing. Once that got used up, the coin would have no more value except to the rightful owner, who has exclusive access to reload it from his mobile device. That means if the coin were lost or stolen, its value would be limited to the stored value on the device. It holds a specified number of dollars and does not have infinite draw capacity from the user’s crypto wallet. The coin itself acts as a stored value device similar to a gift card. This enables the bitcoin holder to utilize his funds anywhere that digital payments are accepted, since the device will simply look like an ordinary credit or debit card to the POS. Pereira explained that Flip works by converting bitcoin stored in a crypto wallet on a mobile phone into usable everyday currency. That appeals to the type of consumer who’s into this – consumers who love new tech.” “This is a conversation piece people ask about it. “Folks who have bitcoin are early adopters,” Pereira said. Then, of course, there’s the simple fact that it’s kind of fun. On top of that, Pereira said the device provides an extra layer of authentication, as its near-field communication (NFC) tech is more secure than a phone, which is permanently on – NFC connections only activate when triggered at a point of sale (POS). He said the Flip is more like a wearable, providing quick and convenient access to payments when a customer’s phone or wallet is buried in a purse or pocket. Why not just tap the phone and be done with it? Gino Pereira, CEO of FitPay’s sister startup NXT-ID, cited a few reasons. Flip, a new contactless payment device that the startup just made available for preorder, is a literal plastic coin resembling a casino chip or silver dollar that pairs with a cryptowallet on a customer’s phone, enabling them to tap the coin to pay instead of reaching for their phone.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |