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)Swiss Mainstream Financial Companies Adopt Bitcoin as Demand Surges
Earlier this month, Swissquote became the first private bank in Switzerland to be approved by the Swiss financial regulator to offer bitcoin services in collaboration with Luxembourg-based trading platform Bitstamp.
Almost immediately after Swissquote announced its integration of bitcoin, Zurich-based wealth manager and financial service provider Falcon adopted bitcoin, allowing its large clientbase to invest in bitcoin. Together, Swissquote and Falcon are set to provide bitcoin services to more than 400,000 clients based in Switzerland.
Is Bitcoin Acceptance by Retailers Really Decreasing?
In a report, Morgan Stanley payments analyst James Faucette noted that bitcoin is only accepted by three of the 500 online merchants tracked by the e-commerce news and analytics publicationInternet Retailer.
Various publications including the South China Morning Post reported that the acceptance of bitcoinby online merchants is decreasing, acknowledging the report of Morgan Stanley analyst James Faucette. “Bitcoin owners are reluctant to use the cryptocurrency given its rate of appreciation, more evidence that bitcoin is more asset than currency. Way easier to trade speculatively than convince new merchants to accept the cryptocurrency,” said Faucette. Bruce Fenton, a member of the Bitcoin Foundation, explained that an increasing number of online merchants have become reluctant toward accepting and integrating bitcoin due to the high fees. However, anyone that has been following bitcoin and its technical.Are Bitcoin Traders Preparing For a Hard Fork?
Several bitcoin traders are preparing for the possibility of the potential occurrence of a split chain, in which the public blockchain of bitcoin splits into two and creates two separate bitcoin networks.
Experts including Vitalik Buterin have stated earlier this week that the proposal of Segwit2x, the solution drafted by 58 companies including Barry Silbert-led Digital Currency Group, is a political movement developed by a certain group of companies attempting to develop bitcoin different vision.
In 2016, Ethereum Classic forked off Ethereum and created two persistent blockchains of the Ethereum network. The Ethereum Classic development community fundamentally disagreed with the decision of the Ethereum Foundation to bail out investors from the Decentralized Autonomous Organization (DAO) and also hoped to transform Ethereum into a digital currency with bitcoin-like philosophies and structure.
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