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Crypto Hater Peter Schiff Is Certain That Bitcoin Has Less Utility Than Tennis Ball

  • Alex Dovbnya
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    Anthony Pompliano is not getting tired of dismantling Peter Schiff’s anti-Bitcoin arguments

Crypto Hater Peter Schiff Is Certain That Bitcoin Has Less Utility Than Tennis Ball
Cover image via twitter.com

Everybody and his uncle was glued to the screen during the US Open. However, instead of commenting on Roger Federer’s surprising defeat during the semifinals or literally any other captivating event, Pacific Capital CEO Peter Schiff decided to draw a comparison between a tennis ball and (you guessed it) Bitcoin.

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Peter Schiff Says Bitcoin Price Has Skyrocketed Above $10,000 Because of Speculations

Peter Schiff Says Bitcoin Price Has Skyrocketed Above $10,000 Because of Speculations

According to the multimillionaire gold bug, who is infamous for constantly bashing crypto, BTC has less intrinsic value than a tennis ball. He also added that it would be impossible to make the US Open trophy out of Bitcoin.

  Morgan Creek Digital co-founder Anthony Pompliano was quick to respond that precious metals are only used for jewelry and trophies while Bitcoin will fulfill the role of a global currency.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
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    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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