The Maltese Falcoin | J.P. Morgan Private Bank

Bitcoin is currently not a medium of exchange other than in a few niche cases. The declining number of Bitcoin transactions per day and the spikes in execution costs bear no resemblance to any functioning fiat currency. As a result, a Bitcoin valuation thesis based on it being used as a medium of exchange makes little sense, at least as Bitcoin exi... See more

Many DeFi advocates anticipate a future world of peer-to-peer uncollateralized lending on blockchains, allowing crypto holders to lend and cut out fees charged by banks for credit scoring, monitoring and payment. Good luck with that. Fintech lending holds some clues since the industry uses AI tools to make uncollateralized lending decisions, and th... See more

Some are skeptical about the ability of digital currencies to emerge as a viable store of value in just a few years since it took thousands of years for gold to do so, and only after gold had been used for its intrinsic value for centuries before that. I don’t agree; such logic is too rooted in the past and does not account for rapid behavioral cha... See more

Will stablecoin access fees be a material source of income for Ethereum and other token holders?  As stated above, stablecoins are generally backed 100% by liquid reserves and therefore do not result in any speculation on their prices. The larger centralized stablecoins such as USDC are not their own blockchains but instead are tokens that are... See more