On June 1, the biggest Switzerland bank will cease paying interest on adult saving accounts according to a report published on swissinfo.ch
UBS already applies a zero interest rate for accounts bigger than half a million Swiss francs.
Accounts smaller than half a million right now acquire a rate of 0.01%, the same as at Credit Suisse, the other big bank in Switzerland. Other banks pay a small rate which averages at 0.07%.
In a statement for the news agency the bank noted:
… Read the rest
“UBS assumes that this phase of very low interest rates will continue for some time to come.
The largest telecommunications company in the world AT&T announced to accept now payments in Bitcoin via Bitpay.
AT&T Now Accepts Bitcoin
As indicated by a May 23 announcement on att.com, AT&T becomes the first mobile carrier in the U.S. to offer the option to pay with bitcoin for their packages.
“AT&T* will now accept online bill payments through BitPay, a respected cryptocurrency payment processor. AT&T becomes the first major U.S. mobile carrier to provide a cryptocurrency payment option to customers.” The announcement noted.
VP Kevin McDorman, AT&T vice president of Communications Finance Business Operations said in the announcement:
… Read the rest
A weird short article was posted yesterday on New York Post newspaper, titled “Bitcoin will soon be worth zero”.
There is nothing wrong having an opinion against bitcoin or crypto in general but the strange thing is that no argument is given except that Mario Draghi doesn’t like bitcoin.
Here it is the whole article in the screenshot below.
Of course, Bitcoin is a threat to the banking business, so it is normal that bankers don’t like it, but it is not an argument.
The New York Post columnist John Crudele who wrote this article seems to have also … Read the rest
This is no time for ETF hopium. If the SEC doesn’t delay the VanEck bitcoin ETF proposal, the most likely result is rejection, not approval. The SEC delayed Bitwise last week, but still hasn’t made a decision on VanEck. Here’s why that’s a bad sign for ETF bulls.
The Bitwise & VanEck proposals were published in the Federal Register on February 15 & 20 respectively. Those dates triggered the SEC’s deadlines for reviewing the ETFs. I covered the SEC’s ETF process & timeline here:
Heading into Blockchain Week, Bitwise & VanEck were coming up on their 90-day deadlines for … Read the rest
The money we use today didn’t exist when people started to trade goods between them. Nor will continue to exist if a better way to exchange value is found. And that time is coming faster than we think.
Cash use is in decline everywhere in the world. Sweden is an example of a cashless society where even banks are not holding cash anymore and the central bank does not play the important role it used to play. Paper money is becoming less used every day.
Those who call cryptocurrency a bubble fail to understand why we are becoming a cashless … Read the rest
We are leaving behind one of the must painful bear markets in the Bitcoin history. Bitcoin hit $20,000 in December 2017 and then the price came back to $3,200 in December 2018.
Bitcoin market cycles seem to be faster than cycles in traditional markets. In only 10 years Bitcoin had 5 cycles characterized by high volatility and has been declared dead several times.
However, the high volatility and short cycles are normal for a new class asset. Meanwhile, the adoption expands more the volatility decreases and cycles might become longer.
Bear markets are usually a good time for development. During … Read the rest