‘No debate’ that Bitcoin will increase 20X says gold industry insider

‘No debate’ that Bitcoin will increase 20X says gold industry insider

Dan Tapiero told Anthony Pompliano that $15 trillion in institutional capital could flow into Bitcoin, pushing prices as high as $500,000.

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Gold Bullion International co-founder Dan Tapiero believes that it’s only a matter of time before Bitcoin’s price surges into the six-figure threshold. 

Speaking to Anthony Pompliano on the Pomp Podcast, Tapiero asserted that in terms of price appreciation Bitcoin is the king, even though he believes investors should own both gold and Bitcoin:

“In the next five years, I can see gold at $4,000, so that’s double. But if gold is at $4,000, Bitcoin is probably somewhere between $300,000 and $500,000, so that’s a 20, 30x.”

He went on to add, “I don’t really think that anyone in the gold world […] they are not going to debate that.”

Tapiero believes that institutional investors and finance whales are likely to invest between five to 15 percent of their portfolios in Bitcoin and noted that sector was currently worth $100 trillion:

“That’s a huge chunk. I mean, 15% of $100 trillion is $15 trillion.”

Bitcoin is a hedge for the fiat system, he explained, and once its market cap is in the trillions of dollars, it will become easier to handle for larger investors, similar to gold.

But gold is a store of value, and that is only one aspect of what Bitcoin is. Bitcoin is an entire network, and that’s why he believes it will be much bigger than gold:

“There is no question that Bitcoin is going to outperform gold.”

Other analysts are similarly bullish about Bitcoin, with Off the Chain Capital chief investment officer Brian Estes telling Reuters today that it “is not a stretch” for BTC to surpass $100,000 in one year, and predicted that it could go as high as $288,000 by the end of 2021.

CNBC host Jim Cramer also believes in the future of Bitcoin, as revealed on another podcast with Pompliano. Cramer, who was a Bitcoin skeptic during the 2017 bull market, recently stated that he had since realized that Bitcoin is a good hedge against inflation and also one that his kids can understand,:

“I think that my kids, when they get my inheritance, won’t feel comfortable with gold, and will feel comfortable with crypto.”


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Dan Tapiero told Anthony Pompliano that $15 trillion in institutional capital could flow into Bitcoin, pushing prices as high as $500,000.

S2F creator has ‘no doubt’ Bitcoin will hit $100K by December 2021

S2F creator has ‘no doubt’ Bitcoin will hit $100K by December 2021

PlanB, the creator of the stock-to-flow model, has little doubt Bitcoin price is on track to hit $100,000 by December 2021

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PlanB, the creator of the stock-to-flow (S2F) model, reiterated on Nov. 8 that Bitcoin (BTC) is well on its way to hit $100,000. The pseudonymous analyst expects the dominant cryptocurrency to achieve the $100,000 to $288,000 range by December 2021.

Bitcoin would have to increase by around 545% from the current price to surpass $100,000. At that price point, the market capitalization of BTC would near $2 trillion, or roughly the same as Apple, the world’s most valuable company. 

Bitcoin S2F model. Source: PlanB

Why $100,000+ and why is it 2021?

The S2F model attempts to predict the long-term price trend of Bitcoin by evaluating its supply. Namely, it takes into consideration its fixed supply and the block reward halving, which reduces the rate at which new BTC is produced or “mined.”

The theory behind S2F is that as the supply of Bitcoin decreases over time and inflation would continuously rise. These two factors could theoretically amplify the uptrend of the top cryptocurrency.

Based on Bitcoin’s supply curve and the halving cycles, S2F puts the expected valuation of BTC at $5.5 trillion. The model predicts Bitcoin to reach a multi-trillion-dollar valuation before 2024. The model reads:

“S2FX model estimates a market value of the next BTC phase/cluster (BTC S2F will be 56 in 2020–2024) of $5.5T. This translates into a BTC price (given 19M BTC in 2020–2024) of $288K.”

In a tweet, PlanB said he remains confident the S2F model’s $100,000 price projection for Bitcoin would materialize.

2021 is particularly important for Bitcoin because it follows a highly anticipated block reward halving in May 2020.

Six months ago, Bitcoin experienced its third halving in history. This decreased the number of BTC mined each day by half, which would cause the circulating supply to drop over time. The analyst wrote:

“People ask if I still believe in my model. To be clear: I have no doubt whatsoever that #bitcoin S2FX is correct and #bitcoin will tap $100K-288K before Dec2021. In fact I have new data that confirms the supply shortage is real. IMO 2021 will be spectacular. Not financial advice!”

So far, following the halving, Bitcoin has increased from $8,700 to $15,500, recording a 78.1% rally in six months.

BTC/USD daily chart. Source: TradingView.com

The supply of Bitcoin is lower than on paper

On-chain analysts like Woobull.com creator Willy Woo say that the total supply of Bitcoin is lower than often thought.

While the total supply of Bitcoin is 21 million, there is a high number of BTC that is lost or dormant that can no longer be accessed. Woo said:

“Total supply of Bitcoin will not be 21m, it’ll be around 17m as many coins died in the fight for being acknowledged as something valuable in the early days. This means 0.002 BTC per person on the planet.”

As such, PlanB expects Bitcoin to follow the S2F model as the available supply and the amount of new Bitcoin mined decreases over time. 


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PlanB, the creator of the stock-to-flow model, has little doubt Bitcoin price is on track to hit $100,000 by December 2021

‘No Message Was Signed’: Craig Wright Refutes Tulip Trust Fabrication

‘No Message Was Signed’: Craig Wright Refutes Tulip Trust Fabrication

Craig Wright has refuted the notion he doesn’t have the private keys to the ‘Satoshi’ addresses that he claimed in court as his own.

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Craig Wright maintains that he alone has access to the ‘Satoshi’ Bitcoin addresses filed in court, despite a message apparently signed by 145 of the addresses calling him “a liar and a fraud”.

Wright says anyone that thinks his credibility is now in tatters as a result “doesn’t understand digital signatures at all”.

He is being sued by the estate of his alleged former business partner Dave Kleiman, which is seeking a share of billions of dollars of Bitcoin (BTC) the pair may or may not have mined together.

As part of the case, Wright filed a list of early Bitcoin addresses he claims are his. However, on May 24 an unknown actor posted a message, signed with the private keys to 145 addresses on the file list. This was seized on by the Kleiman estate to suggest the entire list was a fabrication.  

But in an interview with Patrick McLain on REIMAGINE 2020’s YouTube channel on June 3, Wright said: “No message was signed,” refuting the idea that anyone could sign such a message anonymously: 

“You have to either have an identity attribute or an identity to sign in this issue. Someone can’t go and say ‘Hey, I’ve got a key ⁠— I’m signing’. If you think that, then you don’t understand digital signatures at all.”

Wright said that because there was no signature included in the May 24 message, “You can’t have a digital signature that is anonymous… It’s not signing a message.”

Dread Pirate Roberts’ defense

The Kleiman team have argued the list Wright presented to the Court was a forgery, quoting Bitcoin educator Andreas Antonopoulos in their legal motion as saying no message like the one on May 24 could be signed without private keys. 

Wright refuted this directly with McLain, saying the claim was the same as Antonopoulos’ defense of Ross Ulbricht in the Silk Road case:

“It wasn’t signed […] that was Antonopoulos’ Dread Pirate Roberts’ defense that got kicked out of Silk Road prosecution, saying to sign you have to register a key, and that has to be protected.”

Last week Bitcoin developer Rene Pickhardt said it was possible the signatures could have been exploited: „Of course security might be compromised and the signatures could only be created for this particular message but not for potential coin transfers.”

Twists and turns

The addresses filed with the court — holding Bitcoin mined between May 10, 2009 and January 10, 2010 — have been under intense scrutiny since being leaked from court documents. On May 20 an unknown party moved $486,000 BTC from one of the addresses associated with Wright. 

The case between Wright and Kleiman is still ongoing, with a trial scheduled for July 6 in the Southern District of Florida.


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Craig Wright has refuted the notion he doesn’t have the private keys to the ‘Satoshi’ addresses that he claimed in court as his own.

TON Community: ‘No One Can Prevent the Launch of TON’

TON Community: ‘No One Can Prevent the Launch of TON’

Developers of TON blockchain are willing to deploy it, in spite of the court’s rulings

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Developers of the TON blockchain are still considering deployment, despite injunctive ruling by the U.S. court.

Fedor Skuratov, a spokesperson for TON Labs, the organization behind the TON blockchain, told Cointelegraph that the recent unfavorable decisions by the U.S. court did not catch them by surprise:

“The community was ready for this (or another) scenario. We have several options, including the launch of TON by TCF [TON Community Foundation]. I will say more, no one (no one) can prevent the launch of TON by any other entity, person or community, cause TON is a decentralized open-source solution. Already, there are two different test networks, and within the community, there is at least one group planning to launch.”

“No One Can Prevent the Launch of TON”

TON Labs believe that they can bypass the SEC and the U.S. courts by forking TON’s mainnet. By doing this, the blockchain would be legally decoupled from the original project. In the event of this occurring, original investors may have to settle for the assets issued on this forked network instead:

“The issue of what will be recognized as the core network (Mainnet) is a matter of community recognition exclusively. We are considering, among other things, the option in which we will negotiate with TON investors on the topic of converting their rights to grams in the Telegram’s originally mentioned TON into rights for other grams.”

At this point, it is not clear whether the proposed solution was approved by Telegram founder, Pavel Durov. Considering that the TON blockchain is an open-source project, however, his opinion may not even matter.

The interview with Fedor Skuratov was conducted by a Cointelegraph contributor Stephen O’Neal.


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Developers of TON blockchain are willing to deploy it, in spite of the court’s rulings

‘No Capitulation’ — Bitcoin Miners Completely Unfazed by Price Drop

‘No Capitulation’ — Bitcoin Miners Completely Unfazed by Price Drop

Bitcoin price not irking miners as the hash rate stays stable

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Bitcoin (BTC) is not seeing capitulation among miners despite its price dipping over 15% in the past week, new data suggests.

According to estimates of Bitcoin’s hash rate from monitoring resource Coin Dance, participation remains as strong now as before the price drop. Hash rate refers to the amount of computing power dedicated to maintaining the Bitcoin network.

Hash rate sees 2nd all-time high

According to some measures, the hash rate on Nov. 23, in fact, nearly matched its previous all-time high. At 134 quintillion hashes per second, Saturday’s reading was almost identical to that from Oct. 10, Coin Dance statistics suggest.

BTC/USD traded at around $7,200 on that day, compared to $8,600 in October. 

Bitcoin network hash rate (in orange)

Bitcoin network hash rate (in orange). Source: Coin Dance

Previously, Cointelegraph reported on the rising consensus that Bitcoin miners were exiting their positions as losses mounted. According to statistician Willy Woo, that process had already almost completed as of this week. 

Taking an opposing position based on the fresh data, entrepreneur Alistair Milne suggested miners were in fact little concerned with current price action. 

“There is NO miner capitulation,” he summarized in a tweet on Sunday. He continued: 

“They are acutely aware of the upcoming halving and are apparently unphased by the recent dip.”

Difficulty reverses upwards

Milne also linked to the rising difficulty in mining Bitcoin, an indicator which until recently had been in decline. 

The difficulty is a measure of the effort required to solve Bitcoin block equations and regularly adjusts to suit current miner sentiment. Earlier this month, difficulty saw its biggest drop of the year, falling 7%. Since then, a roughly 2% uptick likewise contradicts the idea that miners are staying away, according to Blockchain figures. 

Bitcoin mining difficulty

Bitcoin mining difficulty. Source: Blockchain

For analyst PlanB, creator of the highly-popular Stock-to-Flow Bitcoin price model, difficulty trends also point to continued faith in mining profitability.

“+2% difficulty adjustment: no miner capitulation,” he wrote on Friday, adding the historical precedent called for a price rise after such behavior.

According to Crypto This’ real-time difficulty generator, the next adjustment on Dec. 5 could be almost 5% higher than current levels.

Unlike difficulty, the hash rate is difficult to estimate beyond a limited degree of accuracy, and should not be taken as a definitive guide to miner involvement.


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Bitcoin price not irking miners as the hash rate stays stable

‘No Borders’ — Alistair Milne Sends Bitcoin Instead of $2.6K Gold Bar

‘No Borders’ — Alistair Milne Sends Bitcoin Instead of $2.6K Gold Bar

Following a giveaway announcement in September, Alistair Milne gives away Bitcoin instead of a $2,600 Denarium gold bar

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Bitcoin (BTC) investor Alistair Milne was eventually forced to send Bitcoin instead of a $2,600 gold bar as part of his recent giveaway.

Following a giveaway announcement on Sept. 19, Milne has revealed the winner as well as other giveaway details in a thread on Twitter on Oct. 22. 

Giveaway background

As originally envisaged, Milne should have given away a $2,600 Denarium Bitcoin Decennium 2019 as part of the giveaway with the winner expected to be announced on Oct. 19. In the giveaway announcement launch, the entrepreneur specified that in order to be eligible, participants should follow Milne’s Twitter and Instagram account as well as like and retweet the announcement.

Coming in a limited edition of 100 products, Denarium Bitcoin Decennium 2019 is a device that combines a 1.097-ounce gold bar and a built-in Bitcoin cold storage wallet.

“You can’t send gold as you can with Bitcoin”

However, Milne eventually had to giveaway Bitcoin instead of the initially offered Denarium gold bar, explaining that the randomly-chosen winner comes from India, and sending such a device to a person in the country would be a problem. Milne tweeted:

“How to send a gold bar to India without it getting lost/stolen/seized? The short answer is, you can’t. Or you could, in theory, but it is very expensive!”

Actually, the 19-year old giveaway winner Krish Patel also did not mind to get his prize in Bitcoin and did not really want the gold, Milne noted, adding that he would have sold the gold bar anyway as he is doing a part-time job to earn $350 a month. 

As such, the parties agreed to proceed with the giveaway in Bitcoin and Milne has sent the $2,600 amount in BTC instead.

Concluding the story, Milne outlined the apparent benefits of Bitcoin as a cross-border transaction tool, claiming:

“Gold is pretty, shiny, etc. but you can’t send it anywhere in the world within minutes as you can with Bitcoin. […] this is why I Bitcoin. No borders. No limits. No permission. No trust. Just two strangers on the Internet transacting & one family’s life changed.”

Meanwhile, India has not officially finalized its stance on cryptocurrencies. In mid-October, the Supreme Court of India announced a delay of a hearing on the Reserve Bank of India’s ban on providing services by banks and financial institutions to crypto-related business in the country.


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Following a giveaway announcement in September, Alistair Milne gives away Bitcoin instead of a $2,600 Denarium gold bar

Fed Chairman: ‘No One Uses It’ — Bitcoin a Speculative Asset Like Gold

Fed Chairman: ‘No One Uses It’ — Bitcoin a Speculative Asset Like Gold

Fed Chairman Powell has said that a globally prevalent cryptocurrency could conceivably remove the need for reserve currencies

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The Chairman of the United States Federal Reserve has said that a globally adopted cryptocurrency system could conceivably remove the need for reserve currencies. 

Testifying before the Senate Banking Committee on July 11, Fed Chairman Jerome Powell gave his analysis of whether a cryptocurrency system with global prevalence could diminish — or even go so far as to remove the need for — so-called anchor currencies. 

With the U.S. dollar de facto the world’s dominant reserve currency, Powell acknowledged the possibility of a preeminent cryptocurrency redrawing the current financial landscape — yet noted that as of yet, this has stopped short of becoming a reality. The Fed chairman said: 

“I think things like that [the obsolescence of today’s reserve currencies] are possible but we really […] haven’t seen widespread adoption. Bitcoin is a good example, almost no one uses it for payments […] it’s a speculative store of value like gold.”

Powell’s comparison is noteworthy given the Federal Reserve Bank of New York’s role as a custodian for the gold held by entities such as the U.S. and foreign governments, other central banks, and official international organizations. 

Powell acknowledged that the prospect of cryptocurrencies coming to replace reserve currencies has been implied since their inception and that its realization could see the global financial system — and specifically the Federal Reserve System — profoundly transformed. He noted: 

“People have been talking about this since cryptocurrencies emerged, but we haven’t seen it. That’s not to say we won’t — and if we do, then yes, you could see a return to an era in the United States where we had many different currencies, in the so-called national banking era.”

As reported, Powell had testified before the House Financial Services Committee earlier this week and acknowledged that the impact of Facebook’s forthcoming stablecoin Libra could be of a “potentially systemic scale” for the global financial and regulatory landscape.

In China, central banking veterans have characterized the widespread anticipation of Libra as being “inseparable from the global dollarization trend,” and stressed that Beijing should respond with precautions and rigorous policy research to seek to maintain a strong monetary status.


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Fed Chairman Powell has said that a globally prevalent cryptocurrency could conceivably remove the need for reserve currencies

Binance to Delist Bitcoin SV as It ‘No Longer Meets’ the Exchange’s Standards

Binance to Delist Bitcoin SV as It ‘No Longer Meets’ the Exchange’s Standards

Binance announces it will delist altcoin BSV following CEO CZ’s warnings on Twitter last week

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Major cryptocurrency exchange Binace has officially announced that it will delist Bitcoin SV (BSV) starting next week. The news was revealed in an official announcement from the firm today, April 15.

The exchange stated that as of April 22, it will delist and cease trading on all trading pairs for BSV — on the exchange under the ticker BCHSV. In the post, Binance explained that it regularly reviews assets listed on its platform “to ensure that it [an asset] continues to meet the high level of standard we expect.” The firm went on to explain that it only delists a coin after another in-depth review, noting “[w]e believe this best protects all of our users.”

The exchange listed responsiveness to its due diligence requests, level and quality of the coin’s development and “evidence of unethical / fraudulent conduct” among the factors that it takes into account before delisting a cryptocurrency.

The exchange also noted that it will support withdrawals of the coin until 10:00 a.m. UTC on April 22.

The move comes just a few days after Binance CEO Changpeng Zhao — better known in the industry as CZ — tweeted a warning that the exchange could delist BSV in response to its creator’s behavior:

“Craig Wright is not Satoshi. Anymore of this sh!t, we delist!”

The tweet is presumably a reaction to BSV founder Craig Wright’s — infamous in the industry for making multiple claims to be Bitcoin (BTC) creator Satoshi Nakamoto — recent action against Hodlnaut, the Twitter user behind the Lightning Torch initiative.

As previously reported, Wright had set a $5,000 bounty in BSV for information regarding the identity of Hodlnaut. The cryptocurrency community reacted on Twitter by creating #WeAreAllHodlonaut hashtag, to show support for the now deleted twitter user. The community also reacted to CZ’s warning by asking various exchanges to delist BSV and creating a #DelistBSV hashtag.

Wright was purportedly motivated by the anonymous Twitter user calling him a fraud and accusing him of falsely claiming to be Nakamoto.

Binance is currently the world’s fourth largest crypto exchange by adjusted daily trade volume, seeing about $900 million in trades over the 24-hours to press time.

BSV is currently trading around $65, down clost to 7% on the day to press time.


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Binance announces it will delist altcoin BSV following CEO CZ’s warnings on Twitter last week

‘No Wallet Needed’: Mobile Cryptopunk Game Announces a New Approach to Non-Fungible Tokens

‘No Wallet Needed’: Mobile Cryptopunk Game Announces a New Approach to Non-Fungible Tokens

A cryptopunk game — in which players fight in a futuristic, post-apocalyptic world for real prizes — is implementing a new system of managing characters. The users will be able to access their non-fungible tokens through the browser, and the tokens will be automatically synchronized on different blockchains. #SPONSORED

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Estonian game developer Ether Dale is ready to implement its new system — dubbed “Side-chain 2.0” — to its multi-blockchain mobile game Glitch Goons. The company says its aim is to build a platform on which people who are not familiar with blockchain can easily create, trade and exchange non-fungible tokens (NFTs).

Easy way to non-fungible tokens

Glitch Goons is a player-versus-player (PvP) automatic game where cybernetic animal-humanoids battle with each other to get resources and power in a futuristic, post-apocalyptic world. Now, the developer is planning to implement its own Side-chain 2.0 with new features. The new system will allow for generating free, scalable, and user-oriented decentralized applications (DApps) and games that can be used by people who are not familiar with the blockchain world.

The users will be able to create their own non-fungible tokens on their accounts or on the game’s server through the API. That means it will be possible to access characters from a browser without installing a wallet. The system will standardize NFT and synchronize them on different blockchains so the in-game items will be easily transferred from one blockchain to another. The process of putting non-fungible tokens on any blockchain available within the ecosystem will be automatic.

The company says Side-chain 2.0 will prevent major time setbacks for developers as well as financial losses involved in creating the same token for different protocols. “We strive to build a platform to create, trade and exchange NFTs easily, which is beneficial for both players and devs,” Sergey Labutin, CEO of Ether Dale, says.

Multi-blockchain payments

The integration of Side-chain 2.0 to Glitch Goons will also expand the payment methods available within the game. The players will be able to use cryptocurrency and fiat (in Google Play or with credit cards) for their transactions. The system will also enable non-fungible token trading and an account together with the profile data storage.

Moreover, Side-chain 2.0 will offer some technical advantages, such as low-cost maintenance (the players will pay only for the power used in the cloud) and “infinite scalability.” The developer hopes that the new system will make transactions not only easier, but also faster. According to the company, Side-chain 2.0 will enable 15,000 transactions per second (TPS). For example, only 15 TPS can be done within Ethereum and only 7 TPS within Bitcoin. Ether Dale says Side-chain 2.0 is not limited by one particular blockchain: It can connect different blockchain transactions. Using them doesn’t require separate online wallets — one smartphone is enough to manage all payments. Glitch Goons also has its own hard currency: GC is an ERC-20-based token issued by the game developer.    

Pioneer of blockchain mobile gaming

The developer emphasizes that Glitch Goons is one of the first multi-blockchain mobile games. “The goal is to bring the mobile community and the blockchain gaming community together by creating a game that can be played without being on any blockchain, while at the same time having items and characters that can be tokenized on it,” the company says.

Using advanced character management system, players can modify and upgrade their fighters with special stats and abilities so they can perform better in the field. However, the players don’t control their characters during the fight. The aim of the game is to equip the characters with the best abilities available and make them pass through the leagues. At the same time, the animal-humanoids get scaled up to better levels and get rewards, i.e., bonus loot boxes. Players can send their characters to take part in online tournaments and win real prizes.

Ether Dale gained attention after its first attempt to introduce blockchain technology as a financial tool. In 2017, the company released its first product, the blockchain fantasy RPG game Ether Quest. The ownership of the unique characters was guaranteed by smart contract technology, which allowed users to sell, trade or collect non-fungible tokens.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.


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A cryptopunk game — in which players fight in a futuristic, post-apocalyptic world for real prizes — is implementing a new system of managing characters. The users will be able to access their non-fungible tokens through the browser, and the tokens will be automatically synchronized on different blockchains. #SPONSORED

Crypto Critic Nouriel Roubini: Blockchain is ‘No Better Than an Excel Spreadsheet’

Crypto Critic Nouriel Roubini: Blockchain is ‘No Better Than an Excel Spreadsheet’

Blockchain is “no better than an Excel spreadsheet” according to Nouriel “Dr. Doom” Roubini, one of the most notorious cryptocurrency critics

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Nouriel Roubini, a notorious cryptocurrency critic, has stated that blockchain is “no better than an Excel spreadsheet” during a panel hosted by crypto exchange LaToken on Jan 25.

Roubini is also known for having predicted the 2008 financial crisis, earning him the moniker of Dr. Doom.

Speaking during a panel at the Blockchain Economic Forum in Davos, Roubini defined blockchain as “the most overhyped technology ever,” while noting that Bitcoin and other cryptocurrencies are the mother of all bubbles. He also pointed out during the talk that blockchain and crypto have nothing to do with fintech and private distributed ledger technology (DLT).

Private DLT, according to Roubini, is nothing more than a fancy database, since it is neither trustless nor decentralized. He also pointed out that, just like DLT, central bank digital currencies (CBDCs) don’t have anything to do with blockchain and crypto either. Roubini sees CBDCs mostly as a way to extend access to the central bank register to every individual, instead of granting access to banks only.

Furthermore, Roubini expressed his idea that CBDCs will dominate cryptocurrencies and change banking in radical ways. Moreover, while he foresees that fintech will change finance and that cash will disappear, he is of the opinion that blockchain and crypto won’t play a role in this change.

Nouriel also harshly criticized what he described as the “tokenization of everything,” explaining that having a token for everything would be equivalent to going back to barter. He also pointed out how the characters in the famous Flintstones cartoon have a currency, which is seashells, arguing that tokenization is worse than that.

Talking about privacy, Nouriel pointed out that no government or regulator will permit the use of anonymity-centric cryptocurrencies such as Monero. As Cointelegraph reported in June of last year, Japanese self-regulatory body Virtual Currency Exchange Association (JVCEA) banned the trade of anonymity-oriented altcoins such as Zcash and Monero.

Roubini’s negative stance on cryptocurrency is not a new opinion for him: in an interview with Cointelegraph in October last year, he declared that, according to him, 99 percent of cryptocurrencies are worth zero.


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Blockchain is “no better than an Excel spreadsheet” according to Nouriel “Dr. Doom” Roubini, one of the most notorious cryptocurrency critics

Crypto Analyst Brian Kelly: ‘No Shot’ for Bitcoin ETF in 2019

Crypto Analyst Brian Kelly: ‘No Shot’ for Bitcoin ETF in 2019

Crypto analyst Brian Kelly claimed in an interview with Cointelegraph that there is no shot for Bitcoin ETF approval in 2019

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Crypto entrepreneur and regular contributor to CNBC, Brian Kelly, claimed that there is no chance for a Bitcoin (BTC) exchange-traded fund (ETF) approval in 2019. Kelly made his remarks in an interview with Cointelegraph at the Crypto Finance Conference, Switzerland, Jan. 18.

Discussing the overall state of the cryptocurrency market, Kelly predicted that 2019 will turn out better than 2018. The analyst argued that “we are somewhere close to the end of [the bear market], but we might have another dip lower, it wouldn’t surprise me at all.” Speaking specifically about what we should expect from 2019, Kelly continued:

“Probably in 2019 the focus will be on currencies — Bitcoin, Litecoin, some of those — because we have quite a bit of geopolitical tension in the world. We are starting to see some global macro players use Bitcoin as alternative to their gold position, or as a way to hedge against fiat currency fluctuations and volatility.”

According to Kelly, 2019 will see Bitcoin become a more accepted asset among mainstream investors.

However, when asked about the likelihood of a Bitcoin ETF receiving government approval this year, Kelly said that there is “no shot” for that.

The approval of a Bitcoin ETF —  an investment fund that would track the value of its underlying asset and trade on stock exchanges — by the United States Securities and Exchange Commission (SEC) is a highly anticipated event that is seen by many as a prerequisite for major institutional investors entering the crypto market.

Over 2018, the SEC has received multiple Bitcoin ETF applications from various players, such as the Winklevoss twins, but is yet to approve any one of them. Expanding on his point of view, Kelly said that the agency is unlikely to change its opinion in the near future, as “there is too much that is unresolved.” According to the analyst, it will take more than a year to settle the existing issues.

Kelly further predicted that in the upcoming years the world will face a new recession, followed by a new financial crisis. However, the nature of the latter will be different from the previous crises, which will purportedly create a window of opportunity for cryptocurrencies and result in making them an actual alternative to fiat money.

As Cointelegraph reported last August, Kelly had previously predicted that the approval of a Bitcoin ETF would not happen earlier than in February 2019. He then affirmed the SEC’s argument that the existing BTC futures market is not mature enough, nevertheless highlighting that it is evolving quickly.


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Crypto analyst Brian Kelly claimed in an interview with Cointelegraph that there is no shot for Bitcoin ETF approval in 2019

Ex-BitTorrent Exec Says There’s ‘No Way’ Tron Will Manage BitTorrent’s Token

Ex-BitTorrent Exec Says There’s ‘No Way’ Tron Will Manage BitTorrent’s Token

Tron won’t be able to manage the transaction volume needed to tokenize BitTorrent, according to Simon Morris, former chief strategy officer at BitTorrent

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According to Simon Morris, former chief strategy officer at BitTorrent, Tron will not be able to manage the transaction volume needed to tokenize BitTorrent. Blockchain news website BreakerMag published its interview with Morris on Jan. 11.

According to the interview, Morris noted that when he worked at BitTorrent, he and his team discovered that bringing a token and automated auctions to prioritize download queues could increase the speed of the network by up to 40 percent.

Nevertheless, Morris reportedly stated that there’s “no way” the Tron blockchain could handle the transaction volume that such a system would require. According to him, his team needed hundreds of transactions per second just to get started. He added:

“You hear all the bulls**t out there, oh, this does 10,000 transactions a second. It’s all crap. We were going to melt TRON. Literally destroy it.”

Further, BreakerMag reports that, according to Morris, there is little reason to believe the other claims about BitTorrent’s Tron-based token, BTT. As Morris allegedly described Tron:

“It’s basically a marketing machine layered on a very thin veneer of technology.”

Explaining his point of view, he reportedly told the news outlet that Justin Sun is very strong at marketing but that he “doesn’t have a technical bone in his body.” Furthermore, he added:

“But the approach that bothered me was, the very sort of Trumpian approach — if you get caught in a lie, the answer is you double down on the lie. [It was] the endless doubling down on lies that made me think it wasn’t going to be a fit.”

Morris left BitTorrent in July last year, reportedly after concluding that he would not be able to develop any trust in relationships with Tron executives. BreakerMag reports that when Morris confronted Sun about Tron’s allegedly plagiarized code and white paper, Sun replied:

“We have come to consensus that this did not happen. And we have moved on.”

Morris reportedly suspects that Tron will manage BitTorrent transactions on a central server and, as he says, pretend it is Tron-based. According to BreakerMag, Morris expects the efficiency of BitTorrent will increase as predicted, but he doesn’t expect this system to be Tron-based. Still, he reportedly noted, this centralization could make this system less reliable.

A Tron spokesperson told Cointelegraph in private comments today that „Morris appears to have little insight into BitTorrent operational plans since his departure,“ adding:

„Actions and execution will prove louder than the words of a disgruntled former employee.“

As Cointelegraph recently reported, BitTorrent has launched a native token, BitTorrent (BTT), based on the TRON protocol.
News recently broke that Tron has hired a former United States Securities and Exchange Commission (SEC) supervisory attorney as its first chief compliance officer.


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Tron won’t be able to manage the transaction volume needed to tokenize BitTorrent, according to Simon Morris, former chief strategy officer at BitTorrent