✅ CRYPTOCURRENCY NEWS | [Ran Neuner, Dr. Windsor Holden…]


another strange week in the world of
crypto we had predictions of market explosion and implosion a giant Bitcoin
rats on Wall Street Veta like Butera joking about a
financial crash and claiming he wasn’t a billionaire in addition to this Google
released a commercial for its call service which essentially doubled as a
district who is it it’s the electric company they said your bill is super
high right well cryptocurrency mining takes a
lot of energy that money’s not real yeah well I gotten used to money isn’t real
you’ll live that left a plastic surgeon led group but South Korean exchange bit
hump start-up investor in surgeon Kim Byung Gunn paid 350 million dollars for
50% plus one share of BTC holding company the largest investor in bid
humps operator there was also a market fault
following a sell-off on Thursday over six billion dollars was wiped off the
market also this week three blockchain startups are featured in CNB c–‘s top
100 startup loose Roger ver flirts with starting exchange
whales are not responsible for volatility you are and Doctor Doom fight
someone from the Fantastic Four ladies and gentlemen I am Mike and this is your
weekly hog lers digest the upstart 100 CNBC’s list of 100 promising young
startups features not one but three blockchain base startups themed a global
payments platform haste and a company that deals with business-to-business
payments and of course shape-shift competition is tough the startups were
selected from over 500 nominees and evaluated based on equally weighted
quantitative metrics the list features every kind of company from blockchain to
AI and even electric toothbrushes oh look up there
it’s Bitcoin Jesus on a hill and he’s got a big announcement Bitcoin dot-com
wants to exchange according to CEO Roger ver they
plans to either buy an existing exchange or develop an exchange in-house if we
build it ourselves we can do it really really cheap and we get exactly what we
want but we don’t have the security of a battle-tested exchange that’s been
around for a while unsurprisingly in an effort to boost
abduction Burke wants to make Bitcoin cash the base currency as it faces its
own heart Foreman burr plans to post the exchange on
Bitcoin comm so we’ll have thousands of tens of thousands of new users every
single day but what’s the call the exchange well Twitter had some good
suggestions two dramatic headlines caught our eye this week one from crypto
heaven and one from crypto hell firstly Ron knowing are proclaiming that bitcoin
is about to explode the second new research with an alarmist
warning the crypto market is on the verge of imploding
if toddlers go to sea first man this weekend they might not see Ryan Gosling
play neil armstrong going to the moon but rather ryan gosling playing bitcoin
going to the moon toddlers like ron owner for example and his parents his
faith in a rally anticipates a successful bitcoin ets and is based on
his analysis that the price surged last year was on the back of the expectation
and launch of a cash settlement Bitcoin futures contract following the CM e
launch in December of last year Bitcoin soon hit its historic high of 20
tape norris sees parallels between bitcoin futures and a bitcoin as yet but
the latter is a way bigger deal we spoke to ron owner and why he’s so positive
about bitcoin the markets come down a hell of a lot i’m not sure if it’s the
bottom i think it may be near the bottom specifically for bitcoin though i don’t
think that most alts have button budget and so you take that and you overlay it
with all the institutional investment to unwrap some old friends that have been
both thing is like custodian solutions things
like institutional grade exchanges and you take all of them you so you know
that plus the potential of an ETF you know if you’re a betting man you kind of
have to say that in the long term it’s safe I’m not saying that bitcoins not
going to go down it could go down to fifty eight hundred and maybe even fifty
five hundred but I don’t really care because I’m not buying it on a on a
short term horizon the flip side of it is that if we if we look at the the
movement in Bitcoin last year and specifically I look at the period from
November 11th when Bitcoin was trading and around about six and a half thousand
dollars to December 20 17th where Bitcoin was trading and about twenty
thousand dollars will just end up what we can see is that you know if the price
now start running if all these things do fall in place then the pressure on is
gonna be very quickly so the way I do the calculation is I say
on the downside my downside is pretty limited maybe Bitcoin goes to five five
maybe it goes to four five on the off side I’ve got all the upside in the
world and I am a believer in blockchain and I am a believer in the coin and so
it made sense to start investing some conservative money into Bitcoin and now
whoo – crypto he’ll run for safety hollers the market is about to implode
well that’s if you believe Juniper research who have just published a
report the future of cryptocurrency Bitcoin and all coin trends and
challenges 2018 – 2023 the ominous warnings show numerous metrics that
indicate market implosion for example following transactions volume from late
last year to now and the failure to rally following the impending trade war
between China and the US and brexit we spoke to dr. Windsor Holden who
conducted the study for Juniper Research to begin with you’ve got the macro
indicators and it’s lost about 2/3 of its value at the same time you’ve seen
significant reductions in overall Bitcoin transactions bitcoins peacock
tivity it was straining the network to the point where you were close to
five hundred thousand transactions a day at one point and you were seeing an
average of you know well over three hundred sixty thousand that you’re now
seeing transaction volumes around about two hundred and thirty thousand a date a
large number of the casual users of the trip to currency have moved out of the
space there isn’t any intrinsic value in Bitcoin and this is where that this is
the crux of the matter it has no value outside that small ecosystem and at some
point that bubble which has been created is going to implode now it might take a
year it might take two years it might take slightly longer but do I see it
going back to the peaks that it’s experienced before
no the opportunities of it are therefore blockchain technology across a whole
host of verticals but when it comes to replacing fiat currency that’s that’s a
significant jump you’ve got a huge behavioral shift to to drive they’re
getting people to pay with something that that they’re not accustomed to
there’s a whole heap of trust issues there that you have to overcome and when
it comes to payment and something that isn’t necessarily backed or recommended
by leading by governments by retailers that that’s that’s a big ask in an
attempt to effectively force feed the Pedro to ordinary Venezuelans the Maduro
government now requires passport fees to be exclusively paid in crypto the cost
to petros for a new passport and one petro for an extension
to put that in perspective the average wage in Venezuela is four times less
than a cost of a passport field Venezuelans abroad are not expected to
pay in petros vice president del C Rodriguez announced in a press
conference in the case of Venezuelans who are abroad until the first day of
November the cost will be $200 for issuance and $100 for extensions it is
estimated that about 5,000 Venezuelans flee the country every day
some of them put their life savings in crypto to avoid violence extortion and
the effects of hyperinflation one way to create demand for a currency
is to force people to pay in that currency I mean one thing is to index
something to the currency right but I don’t see how there is no payment
mechanism in petros it doesn’t exist so so you might say look the price of a
petrol is X and so you owe me X but you would pay with your debit card your your
bank account whales are not the killers they appear to be according to new
research they are not responsible for price volatility blockchain research
firm chain analysis looked at the 32 of the largest Bitcoin wallets representing
1 million Bitcoin or 6.3 billion dollars Wales who owned a considerable sum of
crypto are often blamed for price volatility but what the data is showing
is that only 1/3 of Wales or active traders while these trading whales
certainly have the capability of executing transactions large enough to
move the market they have on net trade against the herd buying on price to
clients the research team divided the whales into four groups number one
traders they were the most active with over two billion dollars in Bitcoin the
majority entered the market in 2017 number two miners trading activity
extremely low but they did sell in late 2017 when prices hit record highs 15
investors currently hold the same amount as the traders number 3 criminals they
hold about 790 million dollars in big number four lost 1.3 billion dollars in
lost and no transactions have been identified since 2011
ultimately the study found that Wales did not intensify volatility in fact
quite the opposite Wales were in aggregate buying on
declines and consequently whereas stabilizing rather than destabilizing
the factor on the market dum-dum-dum dr. doom is back dr. doom
also known as economist Nouriel Roubini famed for predicting the 2008 crash
delivered an appropriately doom-laden speech to the US Senate completely
trashing crypto in his testimony for a hearing on crypto and blockchain he
referred to it as the mother of all scams blockchain also wasn’t safe from
his wrath blockchain is the most overhyped technology ever
it is nothing better than a glorified spreadsheet or database he cannot stop
there the name shit coins Rubini believes is a grave insult to manure if
Roubini is dr. doom in this situation coin centrist Peter Van Valkenburg is
his nemesis so pretty much anyone from the Fantastic Four the director of
research at the crypto lobbyists group defended blockchain from ruby knees
multiple jobs networks powered by public consensus mechanisms mirror the early
internet and may one day become as indispensable as the internet in
facilitating free speech competition and innovation in computing services he went
on public consensus mechanisms demand that users place trust in unknown third
parties who are economically motivated to behave honestly because they have
skin in the game and face competitive pressures who will win the battle for
blockchain the evil Doctor Doom or the noble Peter Van Valkenburg also known as
someone from the Fantastic Four for you what are the most important metrics when
considering a market implosion or market explosion let us know in the comments
below and as always like subscribe and huddle you

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