Crypto billionaire doesn’t give in, names Bitcoin (BTC) at $ 250,000 – plus Ripple and XRP, Tron, Ethereum, Litecoin, Bitcoin Cash, IOTA
From the big bitcoin versus fiat currency debate to a new investment at Ripple, here’s a look at some of the stories breaking in the cryptocurrency world.
Billionaire venture capitalist Tim Draper says he’s not deviating from his forecast that Bitcoin will hit $ 250,000 by 2023. In a recent interview with YouTube’s Wendy O, Draper says he believes Bitcoin is already a stronger store of value than gold.
“Gold is gone like this. What would you use gold for if you can store value with Bitcoin? This is nonsense. But I’m sure a lot of people are still doing it, holding the gold standard for the good coin. But I look at it and say, ‘What? Are you comparing Bitcoin to Gold? ‘ It’s like 10 generations since we’ve used gold to transfer value. “
Draper says that as well as being a store of value, Bitcoin will be widely used as a means of payment once its value reaches a sufficiently high mark.
“I think at some point they’ll spend it when they feel like the value has gotten to a pretty good place. But I predicted $ 250,000 per bitcoin in 2022. It could be 2023, but it’s in that range. And that’s only a 5% market share of all currencies in the world. So I can see why people who are true believers persevere.
But I think at some point people will start spending and using it. And it’s very useful for many purposes. If I were Lucasfilm and I had to pay all 15,000 of the people who get a credit at the end of the movie, I would surely prefer Bitcoin wallets to sending each of them an envelope, check, and postage stamp. And if I have to send money to someone overseas, this is a much better way to send it. “
PayPal boss Dan Schulman disagrees. In a recent interview with CNBC, Schulman said he doesn’t think any cryptocurrency can really compete with fiat.
The prime example of the industry’s efforts to reach mainstream is cited lack of retail adoption, Schulman bypassing the use of cryptocurrencies for wire transfers, the use of Bitcoin as a store of value, and the widespread use of gold as a store of value – without retail integration.
“I’ve always thought that crypto is more of a reward mechanism for implementing blockchain than actually a currency. And we don’t see many retailers accepting any of the cryptocurrencies at all. But I think the underlying technology is still very interesting. “
The Ethereum-based development studio ConsenSys has just sat down for an interview with Tushar Jain, Managing Partner of Multicoin Capital. According to Jain, Ethereum’s first mover benefit is an asset, but it’s too early to say which smart contract platform will be the most widespread in the long run.
“I am the furthest removed from a maximalist you will ever find. I think of everything in terms of probabilities. I don’t think anything is certain. I think there is a certain possibility that Ethereum is the winning chain. I don’t think it’s 100 or 0, but it’s in between. There is a certain likelihood that one of these smart contract platforms will end up being the dominant platform.
I think being a maximalist requires overriding your logic and your ability to think objectively in order to give yourself some psychological security. I can understand why some want that. This is a scary world that we live in. But for the people who are really looking for the truth in their beliefs, it is very obvious that maximalism is far from ideal. “
Ripple and XRP
In a new blog post, Monica Long, Senior Vice President of Marketing and Communications at Ripple, breaks down the number of women in cryptocurrencies.
“As in so many areas of finance before – investment banking, hedge funds, and trading – women bow down to opportunities in the crypto industry, displacing themselves from career-defining opportunities and great financial benefits, all for intimidation.
While the number of women in the blockchain and cryptocurrency is growing, women are severely underrepresented in teams and in leadership positions. A detailed report from December 2018 covers 14 percent of the blockchain startup teams and 7 percent of the executive positions. In contrast, women in the otherwise notoriously male-dominated big tech companies in Silicon Valley typically make up 25 percent of the workforce. “
Despite the numbers, Long reveals what the crypto industry really needs to hit that tipping point that will bring technology into the mainstream: women.
“Diverse voices in the room will take historically male-dominated industries such as finance or blockchain forward by leaps and bounds.”
I hear from a lot of people who are enthusiastic about #Blockchain and crypto and wonder how they can get involved. My thoughts via @theglasshammer: https://t.co/D00pfMLZto
– Monica Long (@MonicaLongSF) April 11, 2019
Litecoin and Bitcoin Cash
The Go.Exchange, supported by Omise, now supports Litecoin and Bitcoin Cash. Both coins are paired with Bitcoin and USD Coin.
The alpha phase is going well so far. Our team is grateful for all the feedback we have received, thank you to all of you. We have opened trading for BCH / BTC, BCH / USDC, LTC / BTC and LTC / USDC! #GOExchange #crypto #BCH #LTC pic.twitter.com/NxCfkWN2tJ
– GO.Exchange (@GOExchangeHQ) April 10, 2019
Tron founder Justin Sun posted an overview of the network’s progress over the past six months, including a look at total daily transactions and market cap.
IOTA founder David Sønstebø has just sat down for an interview with hacker Noon. The interview looks at the origins of IOTA and the platform’s efforts to create a new type of distributed ledger.
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