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The Philippine Stock Exchange (PSE) wants to be the platform for trading crypto assets when the countrys regulators issue long-awaited rules governing the practice, according to a report from CNN Philippines.To get more news about ALGO, you can visit wikibit.com official website.
  PSE President and CEO Ramon Monzon told CNN that management first discussed the idea of setting up a domestic crypto exchange two weeks ago. The PSE has both the trading infrastructure and investor protection safeguards that Monzon said are necessary to trade cryptocurrencies.
  Monzon told CNN that mounting interest in cryptocurrencies means the Philippines cannot ignore them anymore. The PSE is currently awaiting guidelines from the Philippine Securities and Exchange Commission (SEC), which began seeking comments from banks, investors, and the public in 2019 on whether the country should begin building a domestic crypto exchange.
  The country‘s government has historically been friendly toward digital assets. The Philippine Central Bank, though it has been outspoken about not considering the development of a central bank digital currency (CBDC) anytime soon, has licensed over a dozen crypto exchanges to operate in the country. And many Filipinos have become interested in crypto as a way to make money in the country’s struggling economy, with play-to-earn crypto mobile games like Axie Infinity becoming a popular way to earn extra income.
  Monzon told CNN that he believes the volatility of cryptocurrencies is what makes them attractive, which is why trading should happen under the watch of the PSE.

The financial specialist and professor at the New York University – Aswath Damodaran – criticized bitcoin in a recent speech. In his opinion, the primary digital asset “failed miserably” and did not prove itself as a good currency.To get more news about KNC, you can visit wikibit.com official website.
  Gold and BTC Are Not The Same
  The prominent Indian professor – Aswath Damodaran – shared his point of view on bitcoin in the most recent episode of Moneycontrol Masterclass. He asserted that the largest cryptocurrency has failed to classify as a good currency because people disregard it as a payment method for daily and household purchases:
  “A good currency, in my view, is one that [is] used to buy coffee, buy your house, buy a car, and on that count, bitcoin has failed, and not just failed, its failed miserably.”
  Damodaran, also known as “the Dean of Valuation,” believes that crypto enthusiasts ignore bitcoins disadvantages only because they have made a lot of money from it.
  Speaking about the correlation between gold and the digital asset, the Indian opined that the yellow metal is the true store of value because it holds its price during financial catastrophes. He reminded that this is not the case with bitcoin, whose volatile nature makes it a highly risky investment tool:
  “Gold‘s biggest claim to fame is that when stocks collapse, gold holds its value. If I use the same test on bitcoin and I look at 2020, bitcoin didn’t behave like a collectible. It behaved like a very risky stock. Put simply, if I add bitcoin to a portfolio of stocks, Im just adding something that makes my portfolio even more volatile.”
  Did BTC Really Disappoint That Much?
  And while many critics questioned bitcoin‘s merit due to its volatile fiat currency price, MicroStrategy’s CEO – Michael Saylor – asserted that it is a better hedge than gold during these uncertain economic times of increasing inflation. He went further, stating that it outperforms the yellow metal by 50 times:
  “I think in the past 12 months, we have all been waiting for inflation, and I think we are seeing it now. I think investors are seeing that bitcoin is up by 330% and gold is up 7% in that period. So, bitcoin is outperforming gold as an inflation hedge by a factor of 50.”
  Known as one of the biggest BTC maximalists, Saylor highlighted the cryptocurrencys merit not only over gold but over all other investment instruments.
Taproot is on its way. The long-awaited Bitcoin (BTC) upgrade has been confirmed, after it passed the minimum threshold of 90% miner approval in mid-June, meaning that it will be implemented in November.To get more news about ENJ, you can visit wikibit.com official website.
  While the core features of Taproot — increased privacy and enhanced wallet scripting — are fairly well-known, what will the upgrade's impact be on Bitcoin in a wider sense? Will it attract more adoption, take users away from privacy coins, or even incur the wrath of regulators?
  The answers to these questions are fairly mixed, according to a range of Bitcoin developers. Because while Taproots features might attract greater use of Bitcoin, it may also take a while before applications and Bitcoin-based services make full use of them, with protocols having to be built on top of Bitcoin before cost-saving and privacy features have a significant impact.
  What Taproot does for Bitcoin
  As a recap, here are the three main benefits Taproot will bring to Bitcoin:
  Reduced fees for multisig/complex transactions: Taproot will significantly reduce the data needed for processing complex transactions, such as those involving multiple signatures or time-locking. This is great for anyone who needs greater security.
  Increased privacy: in combination with Schnorr signatures, Taproot will let users mix transactions made by complex (e.g. multisig or time-locking) wallets with those using only single signatures. It will therefore let anyone concerned about revealing their use of multisig to hide such use.
  Enhanced wallet functionality: Taproot will let developers set more complex conditions for wallets. For example, it will let developers create multisig wallets which start off by requiring 3 out of 5 signatures to confirm transactions, but which can degrade over a set period of time to require only 2 out of 5 signatures. This is ideal if you anticipate the possibility of losing any of your private keys.
  These are the core features offered by Taproot. And pretty much every developer Cryptonews.com spoke with agreed that such features will be widely used, but not immediately.
  “I expect the features enabled by Taproot will be used very widely once downstream applications integrate them, as they will help the applications provide valuable features, procure competitive advantage and lower costs,” said one Bitcoin developer, who asked to remain anonymous.
  Other developers agree that we‘ll need to wait for applications, wallets and protocols to implement Taproot before its beneficial effects will fully make themselves known. For developer and BTC wallet service BTCPay Server founder Nicolas Dorier, it’s unlikely that adoption for Taproot will be as wide as it was for SegWit, particularly for users requiring only single-signature payments.
  “It will be widely used for other protocols built on top of Bitcoin (like Lightning). On-chain, Taproot makes the use of these protocols indistinguishable from other protocols. Multisig benefits from such kinds of enhancement will follow for sure, but will current multisig wallets move to Taproot?,” he asked, adding that the answer to this question is not clear yet.
  “Taking advantage of the privacy upside requires some more complex protocol (musig2) to be able to work,” he said, noting that it might not be worth the trouble for current multisig wallets.
  For Bitcoin author/educator/developer Jimmy Song, multisig wallets will gradually integrate Taproot, but again not immediately.
  “Not much at first, but much more over time. There is demand for good backup solutions, so yes, I think wallets will be integrating them,” he told Cryptonews.com.