標普推出加密貨幣指數 將Bitcoin、以太幣引入華爾街｜香港01｜財經快訊

標普推出加密貨幣指數 將Bitcoin、以太幣引入華爾街｜香港01｜財經快訊

撰文： 黃文琪 最後更新日期： 2021-05-05 14:55

標普道瓊指數公司宣布，推出全新數碼資產指數系列，包括追蹤Bitcoin價格的S&P Bitcoin Index（SPBTC）、追蹤以太幣價格的S&P Ethereum Index（SPETH），以及同時追蹤上述兩者價格的S&P Cryptocurrency MegaCap Index（SPCMC，加密貨幣超大型指數）。

標普表示，數碼資產指數有助投資者更易進入興起中的數碼資產市場，同時有助在這個相當投機市場，減低相關的風險。而加密貨幣指數將採用「公平市場定價」（Fair Market Value Pricing）作為估值方法，並非以美元做衡量。

標普指出，傳統金融市場及數碼資產不再是互相排斥的市場，隨著加密貨幣變得主流，投資者有渠道獲取可靠、透明的定價數據，該行展望將進一步擴闊數碼資產指數並帶來更高透明度。

金融資訊與統計數據供應商標普全球（S&P Global）表示，下半年將會擴大指數名單，列入更多數位貨幣，以及推出更多追蹤不同市值或市場的加密貨幣的指數，例如大型市值加密貨幣指數。

據CoinDesk，Bitcoin現報每枚54,137美元，日內跌幅3.45%；以太幣現報每枚3,237美元，日內跌幅4.17%。Dogecoin（狗狗幣）現報每枚0.67美元，日內升幅為55%。

New Chia cryptocurrency promises to be greener than Bitcoin, but may drive up hard drive prices

It has been a big year for cryptocurrency. Bitcoin is worth six times what it was 12 months ago, and the joke currency Dogecoin has seen a hundredfold increase in price. A boom in “non-fungible tokens”, or NFTs – tradable tokens based on the same technology as cryptocurrency – is transforming the art market.

With this growth has come renewed scrutiny, with critics attacking Bitcoin in particular as a speculative bubble that uses vast amounts of electricity and produces no real value.

A new cryptocurrency called Chia, which has just begun trading, sets out to remedy these flaws while upholding cryptocurrency’s promise of a secure, decentralised form of payment.

Chia is the brainchild of Bram Cohen, who invented the BitTorrent peer-to-peer filesharing system. He claims it will be more reliable than other cryptocurrencies, and more environmentally friendly too.

What is cryptocurrency?

Unlike traditional currencies such as the dollar or euro, which are issued by central banks and rely on trust in governments, cryptocurrencies rely on a decentralised database called a blockchain, secured by sophisticated cryptographic tools.

The first cryptocurrency was Bitcoin, released in 2009, and today there are at least 5,922 cryptocurrencies available. Bitcoin is still by far the biggest; the total value of all Bitcoin now in existence is some US$1.2 trillion.

Read more: Demystifying the blockchain: a basic user guide

Despite this booming popularity, very few retailers accept cryptocurrency as payment.

Governments around the world are also exploring digital currencies. The Bank of England is hiring a dedicated team to explore the possibilities in this area, while the Australian Stock Exchange is reviewing applications for a cryptocurrency-based exchange-traded fund. Germany is one of the frontrunners in embracing crypto, and is heavily investing in blockchain solutions for institutional investment.

How is Chia different from Bitcoin?

Bitcoin and most other cryptocurrencies use a system in which currency is created or “mined” using computers to solve mathematical puzzles. These are known as “proof of work” systems — solving the puzzle is proof that your computer has done a certain amount of work.

Read more: The ‘utopian’ currency Bitcoin is a potentially catastrophic energy guzzler

Doing this work takes specialised hardware and lots of energy. Bitcoin mining has helped create shortages of graphics processors, and by some estimates it is more energy-intensive than copper mining and uses more electricity than some entire countries.

Chia runs on a system that should use less energy, called “proof of space and time”. In this system, users need to show they have reserved a specific amount of hard drive space at a precise time.

So Chia won’t use huge amounts of electricity, and won’t see miners buying up every graphics card in sight. But the requirement for hard drive storage space may lead to other drawbacks.

Hard drive price surge

Even before its official launch, Chia has used more than an exabyte of data storage. That’s the equivalent of about a million of the 1 terabyte hard drives you might find in an average desktop computer.

According to the South China Morning Post, hard drive prices in China have begun to soar as Chia miners stockpile storage. The price of 12-terabyte drives has increased by 59% since Chia was announced in February this year, and most professional-quality hard drives with more than 8 terabytes of capacity are sold out.

Vietnam is also seeing hard drive shortages as a result of China’s Chia craze.

Shutterstock

We may well see similar effects in other countries in the not too distant future. At present, Chia lacks the name recognition and celebrity endorsements that have helped the likes of Bitcoin and Dogecoin to soar, but it has a clear cost advantage.

We can expect cryptocurrency miners will be inclined to try Chia, as a cheaper option than established cryptocurrencies. Eventually, hard drive manufacturers may also revise their prices to increase their own revenue.

Time will tell how Chia ends up performing on the market. If it takes off, we can expect a boom in hard drive prices. But on the flipside, it might also mean graphics processor prices come back down.

Ethereum is leaving bitcoin in the crypto dust

New York (CNN Business) Hunter S. Thompson once wrote, “There is nothing in the world more helpless and irresponsible and depraved than a man in the depths of an ether binge.” He was referring to the intoxicating drug, not the cryptocurrency. But ethereum investors may have reasons for fear and loathing, too.

bitcoin XBT The world’s second-most valuable cryptocurrency has soared even more thanin 2021 thanks to non-fungible token mania and increased adoption of ethereum — ether, for short.

Ether prices are now hovering around $3,400, a more than 350% gain this year. Bitcoin prices have risen a “mere” 90% by way of comparison. In the past week alone, ether is up a staggering 30% while bitcoin is flat. That has raised some concerns that ether has risen too far, too fast, just like bitcoin did in 2017 before plunging spectacularly in 2018.

So why has ethereum, which now has a combined market value of almost $400 billion for all its coins in circulation, taken off lately?

Ether is the main currency of choice used to purchase non-fungible tokens, or NFTs, the digital assets that have become increasingly popular in the art and sports collectibles world.

Read More