BTC Failed as a Currency, Bank of England Head Says

According to Mark Carney nobody uses Bitcoin as a medium of exchange
20 February 2018   805

The head of the Bank of England, Mark Carney, believes that to this day, bitcoin has not been able to prove that it is a full currency in the conventional sense of the word, since it can not effectively perform the function of either a means of accumulation or a means of exchange.

During the speech at a closed event at the London University of Regents, the head of the central bank told students that bitcoin does not meet two basic criteria, without which it can not be called a currency.

It has pretty much failed thus far on... the traditional aspects of money. It is not a store of value because it is all over the map. Nobody uses it as a medium of exchange. A currency has to be a widely used medium of exchange. Cryptocurrencies are never going to achieve that. Period.

Mark Carney

Governor, Bank of England

Carney's comments will hardly surprise anyone, as they almost repeat the statements of other representatives of central banks and various figures from Wall Street almost word for word.

tZERO to Launch Bitcoin Trading App

Application itself is being developed by Bitsy; it may also begin to support Ethereum in the future
22 March 2019   108

The security tokens platform tZERO announced plans to launch a mobile application for buying and selling bitcoin. In the future, the application may also begin to support Ethereum,  CoinDesk reports.

According to Saum Noursalehi, CEO of tZERO, applications for iOS and Android devices should be launched in June. Bitsy is developing it, a cryptocurrency start-up that is part of the portfolio of the Overstock venture division of Medici Ventures.

That’s part of the reason we acquired Bitsy — to accelerate time to market for our mobile app. They have an app for trading crypto, primarily bitcoin, in a beta-phase, they built a wallet and key recovery mechanism, and this will be the foundation of the mobile app for tZERO. They are also working on some cool stuff like biometric login. 

Saum Noursalehi

CEO, tZero

According to him, the application will allow you to store cryptocurrency without the need to trust third parties and it will be connected to the network of exchanges through the API. The implementation of this plan will occur through partner tZERO, the institutional trading platform SFox.

In the future, the head of tZERO added, the platform also intends to create its own cryptocurrency vault to meet the demand from users.

The public beta testing of Bitsy wallet started in November 2018. With his help, the Overstock retailer plans to launch Bitcoin sales on its website.