Ex-Goldman Sachs President Says Global Cryptocurrency Will Come, But It’s Not Bitcoin By Cointelegraph

Ex-Goldman Sachs President Says Global Cryptocurrency Will Come, But It’s Not Bitcoin

Gary Cohn, former Goldman Sachs (NYSE:) President as well as former chief economic advisor to US President Donald Trump, believes that there will a global cryptocurrency in the future, but it will be a coin “more easily understood” than (BTC), CNBC reports May 8.

Cohn told CNBC that he thinks there will be a “global cryptocurrency at some point where the world understands it and it’s not based on mining costs or cost of electricity or things like that.” Bitcoin mining relies on miners’ computers to solve hashes in order to get a block reward through a Proof-of-Work protocol. In October of last year, it was estimated that Bitcoin drew 56 mln KWh of electricity per day at an expense of $ 6.7 mln.

Continue Reading on Cointelegraph

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Related Posts

Add Comment