What does De Nederlandsche Bank think about cryptocurrency? ‘Not going to play the role people expect’

What does De Nederlandsche Bank think about cryptocurrency? ‘Not going to play the role people expect’

Millennials are captivated by cryptocurrency, but the coins appear to be sensitive to inflation. De Nederlandsche Bank, which has to ensure our financial stability, does not see cryptocurrency as the means of payment of the future. “It’s called a coin, but it’s not,” says DNB director of monetary affairs Olaf Sleijpen in WNL’s economic research program, Stand of the Netherlands: Generation Next.

“It is something that is created on the basis of technology, blockchain. But it is not legal tender,” says Sleijpen. “It is also not a unit of account, like the euro or the dollar. https://moveco.io/ has enough information. You don’t see a price in bitcoins anywhere in the supermarket.” It is also not suitable as a means of savings, because the value fluctuates very much, he says. “People think there is a relationship with the money system, but there isn’t.” Sleijpen thinks that cryptocurrency “will not play the role in the payment system as some people expect”.

Is digital euro the future?

De Nederlandsche Bank may not like the crypto coins, but the technology behind it does. The European Central Bank is considering a digital euro. “It can become a replacement for banknotes and coins,” says Sleijpen. “We see that banknotes and coins are used less and less. This is also due to the corona crisis. At the same time, there is a need for public money, which is issued by the central banks.”

The digital euro can play a role in this, thinks the director of monetary affairs at DNB. “But you should not confuse it with the cryptocurrency. https://folm.io/ has enough information. It is then a digital euro that could be produced via blockchain, but which is also officially issued by governments.”

“Not all eggs in one basket”

But we are not there yet. What is the best thing to do as a millennial if you want to invest your savings? “Ultimately, what matters is that if you start investing speculatively, you know very well what you are doing and that you don’t do that with all your money,” advises Sleijpen. “If you lose it, you’re in big trouble. I think spreading is the magic word. Not all eggs in one basket.”

Family risks losing Rs 44 Crore in cryptocurrency Ethereum after house fire

Family risks losing Rs 44 Crore in cryptocurrency Ethereum after house fire

Ethereum cryptocurrency. Image for display via Canva.Ethereum cryptocurrency. Image for display via Canva. While cryptocurrency enthusiasts praised the decentralized nature of these digital currencies, the imperfect methods used to secure the digital tokens have caused much grief.

Crypto Popular

Cryptocurrencies are one of the hottest topics as few of the popular ones have hit record highs recently. Among the many options, the name of a cryptocurrency, Ether, also known as Ethereum (ETH), has been making the rounds in the market. It is the second largest cryptocurrency, right behind Bitcoin. While cryptocurrency enthusiasts praised the decentralized nature of these digital currencies, the imperfect methods used to secure the digital tokens have caused much grief. (LINK) Chainlink price has risen.

Lately, there have been a slew of stories of people buying into cryptocurrencies early, only to lose access to the wallet where the digital money was stored. It would be a shame to lose or lose access to such a crucial piece, one family is going through just that.

According to a WJLA report, a Washington DC-based family fears their $6 million in Ethereum cryptocurrency fortune could be lost forever after tragically losing everything in a house fire. However, their story of lost cryptocurrency assets is very different from the others.

Yuki and Art Williams bought 3,000 Ethereum coins in an Ethereum Foundation presale way back in 2014. Their investment was then worth about $932 and now it stands at nearly $6 million (about Rs 44,57,40,300) on today’s exchanges. .

Prolonged fight

As the shocking fire destroyed their home, the family’s struggle to access their multimillion-dollar fortune has left them desperate, even a lengthy battle to access an important data file for their Ethereum wallet. The pair claim that a password was created, but the very important JSON file that acts as an exclusive key to open a crypto wallet was never fully downloaded online. The family also claims that a password was created for the wallet, they also claim that they contacted Ethereum via email for a backup JSON file but never received it either. MATIC polygon price has risen.

“The instructions were to leave your computer on for an hour and a half and as the progress bar showed, the JSON file would appear,” Art Williams told the publication. “Unfortunately for us, it has not appeared,” he added.

Williams claims they can see 3,000 ETH in their wallet but cannot access it because they don’t have the all-important JSON file. The Williams’ decided to go public with their struggle, they hired a lawyer in 2018 and tried to reach a compromise with the cyrptocurrency foundation.

Now, after years of fighting to access the fortune, the family has now launched a fundraiser to cover the costs of their legal crusade. The Williams’ have now begged for help to raise $250,000 to fight their legal battle with the International Chamber of Commerce, the report said.