Federal government hesitates with E-Euro

The federal government is struggling to take a clear position on the digital euro. This emerges from a request from the FDP parliamentary group that BTC-ECHO has received.

While the discussions about the introduction of the One Bitcoin a Day from Facebook are now also preoccupying the federal government, they are still waiting in vain for more substantial statements regarding the digital euro.

A request from FDP MP Frank Schäffler brought little new knowledge to light

In October, BTC-ECHO already reported on the cautious formulations of the federal government regarding the e-euro. At that time, the rulers did not yet agree on whether the introduction of a digital euro by the ECB would make sense. A lot has happened on the global stage since then. Facebook has renamed its stablecoin Diem and is continuing to push for an introduction in the coming year. China is already testing its CBDC on the population and the G7 has only recently shown its resolve to regulate cryptocurrencies.

No decision on the introduction of the e-euro yet

While the federal government already wants to regulate other digital currencies, the progress towards the introduction of a digital euro is not significantly more advanced than in October. The ECB has still not made a decision whether a digital currency should come in the euro area at all, even if a lot stands for it. The related discussion is also just beginning, says the document. They are currently still in an „experimental phase“, which will end in March 2021. Then one would think about transferring it to a formal project investigation.

The federal government sees the possible introduction of a digital euro as a complementary means to normal cash. In doing so, she takes the same position as ECB boss Christine Lagarde, who already announced her position in an interview at the end of November . Lagarde is still skeptical of cryptocurrencies like Bitcoin.

Because the „E-Euro“ project is still in such an early stage, no valid information can be given about any legal adjustments. In addition, according to the federal government, it is not possible to provide an exact breakdown of those who work on the topic.

ECB launched online survey on the digital euro

For a long time, the European Central Bank had concerns about cryptocurrencies. In October it went public and asked citizens and companies whether and how it would make sense to use a digital currency. In relation to this, the FDP parliamentary group raised the question of whether the federal government would participate in the public consultation process. One will not take part in the survey, since the survey is more aimed at companies, associations and private individuals. After evaluating the data, the Governing Council then decides whether a digital currency should be tackled.

Criticism from the FDP parliamentary group

The member of the FDP parliamentary group Frank Scheffler criticizes the hesitant behavior of the federal government and the ECB:

The government has still not found its position. While Facebook wants to launch Diem in the US in the New Year, the government is preventing innovative means of payment in Europe,

said Schäffler in an email exchange with BTC-ECHO.

Le milliardaire Druckenmiller : Bitcoin Bet pourrait battre l’or

Le milliardaire Stanley Druckenmiller a changé d’avis sur Bitcoin, suggérant que cela pourrait rapporter plus que les actifs liés aux matières premières.

L’investisseur milliardaire Stanley Druckenmiller a changé d’avis sur Bitcoin en tant que réserve de valeur, affirmant qu’il a le potentiel pour les générations futures.

Dans une interview accordée à CNBC, M. Druckenmiller a déclaré qu’il avait fait le saut dans le monde des cryptocurrences et acheté Bitcoin. Bien qu’il n’ait pas précisé le montant, il a laissé entendre qu’il était encore plus investi dans le marché de l’or à l’heure actuelle. Ceci étant dit, il pourrait s’orienter vers un renforcement de ses avoirs en Bitcoin à l’avenir :

„Je possède beaucoup plus d’or que de bitcoin. Mais franchement, si le pari sur l’or fonctionne, le pari sur les bitcoins fonctionnera probablement mieux parce qu’il est plus fin, plus illiquide et a un bêta beaucoup plus élevé“.

Bitcoin – Une réserve de valeur attrayante

Dans l’interview, il a déclaré qu’il considère la cryptocouronne comme un atout au potentiel croissant. Il a proposé :

„Le bitcoin pourrait être une classe d’actifs qui a beaucoup d’attrait en tant que réserve de valeur pour les deux millénaires et le nouvel argent de la côte ouest – et, comme vous le savez, ils en ont beaucoup. Il existe depuis 13 ans et, chaque jour qui passe, il se stabilise de plus en plus en tant que marque“.

Que vaut Druckenmiller ?

Druckenmiller dispose actuellement d’une valeur nette d’environ 4,4 milliards de dollars. Il avait auparavant fait tomber Bitcoin à cause de sa volatilité. En 2018, il avait déclaré qu’il ne verrait jamais Bitcoin comme un moyen d’échange viable. À l’époque, il avait déclaré

„Je ne pense pas être un néandertalien, c’est ainsi qu’on m’a appelé quand j’ai dit que je ne voulais pas posséder de Bitcoin“.

Cependant, peut-être qu’avec le fait que Bitcoin montre plus de signes de stabilité ou que le prix de Bitcoin a un rapport avec le prix de l’or, sa position a changé.

Polkadot and Ethereum are meant to coexist, according to Gavin Wood

Polkadot (DOT) founder Gavin Wood has expressed his ambition for the project. And he doesn’t particularly see Ethereum as a competitor …

Ethereum and Polkadot, brought to coexist?

As a reminder, before being the creator of Polkadot, Gavin Wood is the founder of Ethereum. This is why he was asked about the subject during the Polkadot Summit which took place yesterday. Wood explains the positioning of Polkadot, which he considers to be “ a bet against the maximalism of blockchains“ . According to him, building Ethereum as a single blockchain that would cover all the needs is not a good idea. He believes that the strength of the ecosystem is precisely interoperability, which is Polkadot’s credo:

“If Ethereum becomes a chain to be bridged with, I think there is a very good chance that Polkadot and Ethereum will coexist . “

Polkadot, a threat to Ethereum?

The Polkadot project has in any case seen a breakthrough this year , with a fanfare arrival in the top 10 cryptocurrency by capitalization, thanks to several successful token sales . And beyond the economic factors, the project has attracted many developers thanks to its promise: that of creating interconnected environments.

The DOT price therefore logically reflected this nascent enthusiasm… At least until the end of November. The DOT price followed the Bitcoin bull run (BTC), approaching its all-time high at over $ 6 a week and a half ago. But it had plummeted very sharply, losing -21% in the space of a day:

Since then, the price has managed to bounce back, even if it does not reach levels similar to ten days ago. However, it takes + 9 % over the week . Today, the capitalization of DOT stands at nearly $ 5 billion.

Ethereum 2.0: Coinbase introduces staking

Ethereum 2.0: Crypto exchange Coinbase introduces staking for eth2

Staking at Ethereum is what mining is at Bitcoin. However, this form of investment is not without risk. The crypto exchange Coinbase has now presented its plans for Ethereum 2.0.

The crypto world has been waiting longingly for the launch of Ethereum 2.0. The crypto exchange Coinbase has now revealed its plans how it wants to deal with staking and trading in the future, when two different tokens „ETH1“ and „ETH2“ exist. In a blog post Coinbase clarifies that it will offer a Bitcoin Machine platform conversion services from „ETH1“ to „ETH2“. Those who decide to stack their tokens will receive a Staking Reward as usual. Unlike the already existing Ethereum network, Eth2 is not a proof-of-work but a proof-of-stake based block chain network. The already established Ethereum block chain will always run in parallel with the new proof-of-stake based „beacon chain“.

While ETH2 tokens will remain in the chain, Coinbase will also enable trading between ETH2, ETH and all other supported currencies and provide liquidity to our customers. We are very excited about this important milestone for ETH2 and the potential that a final rollout of ETH2 has for the entire crypto community.

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The blog does not specify an exact date. It says that the necessary legal steps should be completed by early 2021. By upgrading to phase zero of its version 2.0, Ethereum will establish its new proof-of-stake network. Ethereum’s development team claims that the proof-of-stake reduces centralisation risks and is also more secure, for example with regard to 51 per cent attacks.

The reason for this is that ETH-Stakers play a central role in the Beacon Chain. They are rewarded for securing the network and for constant validation. Basically, anyone can become an ETH Staker. However, to do so, it is necessary to deposit 32 ETH on the Beacon Chain or participate in a staking pool. A random generator is then used to select from the approved certifiers.

Last week the start of phase 0 of Eth2 was announced. As of today, 878,561 ETH have already been deposited on the Beacon Chain, which is proof of the popularity of staking. There is only one catch: the stakers will only be able to transfer their share after the introduction of phase 1. How long this will take is currently completely open. Several companies, including Darma Capital, plan to offer art staking as a service. This would also allow users to access their capital earlier.