Connect with us
CLOSE

Bitcoin News

VC Tim Draper Predicts Bitcoin Will Be 5% Market Share Of The Earth

Published

on

VC Tim Draper

VC Tim Draper stated in an interview that he is a strong believer in Bitcoin after making a bold prediction that the cryptocurrency will reach $250,000. In the latest cryptocurrency news, we will read more about the new prediction that Bitcoin will be 5 percent of the market share of the earth.

The venture capitalist pointed out:

“I’m a believer that in four years, something like that, bitcoin will be about a 5% market share of the earth.”

He pointed out that the best features of Bitcoin such as transparency and decentralization are better features than one of fiat currencies. Draper is an early bitcoin investor after he purchased about 30,000 BTC when the price of the number one cryptocurrency hovered at $632 per coin. He pointed out that the investment is now worth 10 times more today and he has no doubt that the price will go much higher. Draper stated:

 “I eventually want to have a fund where I take in bitcoin and I fund everybody in bitcoin and they pay their employees and suppliers in bitcoin. And then I pay my investors in bitcoin. Because I would then require no accounting, no legal, no bookkeeping, no custody. It would all be done.”

If you take into consideration that transactions are recorded on the blockchain, all of the participants would be able to see everything. Draper is a big fan of bitcoin but he is also very open to other cryptocurrencies. He does expect that the number of altcoins will decline and only the best projects will stick around as mentioned in the coming altcoin news.

VC Tim Draper also commented about the $1 billion funds of Facebook for its stablecoin by saying:

 “If the shareholders will benefit somehow by a breakup, then sure go ahead and do it. But the idea that he has all this centralized power…I think he’s just building a business and it’s a great business. And there are plenty of competitors to him out there. And I’m very pleased that he’s done so well.”

In the meantime, the price of the largest cryptocurrency is hovering around at $6,379 which is a far cry from the $250,000 target that Draper predicted. He does believe that Bitcoin will be 5% of the earth’s market share.

Share This With Your Friends

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Continue Reading
Comments

Bitcoin News

Bitcoin’s GitHub Community Reaches More Than 3000 Members

Published

on

By

Bitcoin's github community
According to the latest data, Bitcoin’s GitHub community not has more than 3000 members so let’s read more about it in bitcoin latest news.Github is extremely well known for being the best online develop hub where experts and amateurs can work together and review codes, build software together or manage projects. This is a place where any code can be taken into pieces, investigated and studied and then improved if there’s a need for that. With a platform such as GitHub, it would be very hard to imagine the concept of digital currencies as money since there’s nothing but code underneath the surface would not get the attention of the developers. Bitcoin stands in high regard because of its unique nature and promises to change the entire financial world.Now, according to the recent data from GitGitRun.com, it seems that Bitcoin’s Github community managed to reach about 2,800 members yesterday but as the Bitcoin community member of Reddit u/THE_ReD_Truck noted, not all repos are tracked after he concluded that the real number of Bitcoin developers on GitHub could easily be over 3,000. It’s not that easy to find the correct number of contributors to any community since many of them is not tracked and others are counted twice so these problems make it complicated to determine the true size of the community despite the data showing that the number of tracked contributors will continue to rise.Regardless of the number, the fact that Bitcoin is getting much more developers that are willing to improve its technology, is good news. Inspecting the codes and trying to improve it, by coming up with new patches and improvements, thinking up ways to solve the problems that Bitcoin always had, it’s not an easy task. Bitcoin adoption is spreading across the world and the same is true for the developers which can benefit the rest of the community along the way.The GitHub community is working on blockchain technology but they are facing a lot of difficulties especially in 2 019 when the platform started identifying and banning Iranian accounts because of the US trade restrictions. This prevented the developers from Iran from participating in software projects that required private repositories or paid services which brought serious consequences for the entire community but also for the personal lives of the developers.
`
Continue Reading

Bitcoin News

WEF2020 Announces Global Consortium For Regulating Bitcoin

Published

on

By

wef2020
At the WEF2020 in Davos, Switzerland, there was a significant mark on the crypto market and the World Economic Forum announced the first global consortium focusing on creating a regulatory framework for the governance digital currencies including bitcoin and stablecoins. In our latest bitcoin news today, we find out more about their ideas.The World Economic Forum for 2020 happened the past week in Davos and cryptocurrencies were the center of attention. Yesterday during the last day of the consortium, the forum announced the creating of the first Global consortium for Digital Currency Governance. It will mainly consist of financial institutions, government representatives, international organizations, leading companies, academics, NGOs, technical experts and other members of the Forum’s communities.The report showed that if digital currencies receive proper financial inclusion, they will have to get paired with good governance. Therefore at the WEF2020, the forum discussed whether it is needed to establish a framework of regulations by implementing innovative approaches. In order to do that, the participants will have to use ‘’efficiency, speed, inter-operability, inclusivity, and transparency.’’ The Consortium will work with both the private and public sectors to explore the presented opportunities.According to the founder and Executive Chairman of the WEF, Klaus Schwab, ‘’ digital currency, a cross-cutting topic that requires input across sectors, functions, and geographies, is a key area of interest for the Forum.’’ The Governor of the Bank of England also commented:
 “Governance is the core pillar of any form of digital currency. It is critical that any framework on digital currencies ensures security, efficiency, and legitimacy of payments while ensuring fair and open competition. We welcome the WEF’s platform to help develop a robust governance framework for inclusion through digital currencies.”
As per the recent reports, the efforts of creating a regulatory framework on cryptocurrencies are getting more serious. As of this month, the European Union introduced an updated version of the 5th anti-money laundering directive and had increased regulatory focus. All of the crypto-related businesses are operating from Europe and they have to follow the rules which include a more in-depth know your customer process, filling suspicious activity reports and conduct transaction monitoring with law enforcement.  After the WEF2020, the world watchdogs will try to establish a framework of regulations for crypto so it will be extremely interesting to see whether this will be beneficial for the market.
`
Continue Reading

Bitcoin News

Investors Data: Bitcoin Is The Most Popular Crypto Asset

Published

on

By

investors data
The investors data that is received from CoinMakretCap, about Bitcoin (BTC) and cryptocurrencies market capitalization figures, besides the bigger reliability than the data on daily volumes, only informs about how much of every cryptocurrency is out there as we are reading further in the bitcoin latest news.However, with the huge amount of these coins being held by early adopters, whales, exchange wallets or just forever lost it is not providing an answer to the question. Which are the cryptos that investors are holding in their portfolios in reality? Luckily the Shrimpy Portfolio Management has published a snapshot from their extensive sample of investors data to provide some insight.With disregard for market capitalization, we will set our focus on the dominance of Bitcoin (BTC) and other cryptos within the portfolios and their popularity. It is indicated by the dominance in itself that the average weighting of certain crypto within a certain portfolio. This is while ignoring the relative values of the portfolios. For example, a $100 million portfolio contains 25% Bitcoin (BTC) and a $10k portfolio containing 75% Bitcoin (BTC), would still average out 50% of Bitcoin (BTC).The popularity measured what is the percentage of the sample portfolios that hold certain crypto while ignoring the relative proportion in each. For example, if 10 portfolios contained 5% of Ethereum (ETH) the popularity of Ethereum (ETH) would have been 100%. It is obvious that there is likely some overlap among Bitcoin (BTC), crypto market capitalizations, and our dominance and popularity metrics. Let as taking in consideration popularity.Shrimpy had an unsurprising discovery that Bitcoin (BTC) is the most popular cryptocurrency, that appears in 72.4% of the portfolios. But, Ethereum (ETH) is also held by something more than half of the investors at 54.5%. Cryptocurrencies of prominent popularity were Binance Coin (40.1%), XRP (38.7%), Litecoin (37.7%), Stellar (32%), EOS (27%), Cardano (26.3%), Bitcoin Cash (24.5%) and Monero (21.4%). Naturally, Bitcoin (BTC) is again on the top in the dominance metric, making up an average of 26% of the portfolios sampled. But, Ethereum (ETH) is of an average weighting of 7.4%, unexpectedly if we take into consideration the market capitalization of the coin. Shrimpy also published a report in which it tries to asses the actual number of trades that are processed by cryptocurrency exchanges at a daily level.
`
Continue Reading

Bitcoin News

Tesla’s Elon Musk: Bitcoin Has A Huge Role But Won’t Replace Money

Published

on

By

elon musk
Tesla’s Elon Musk, one of the most successful and popular entrepreneurs, spoke about bitcoin and the entire idea of cryptocurrencies stating that the assets will not replace cash entirely but will play a vital role as we are reading further in the latest bitcoin news.Elon Musk is mostly known for his business actions as the CEO of Tesla and SpaceX. He was the founder of PayPal which is still the most used online payment service company. Recently appearing in a podcast, he answered about the world’s biggest crypto-Bitcoin. He said initially that ‘’I’m neither here of there on bitcoin’’ but after he read the entire whitepaper he thought the idea was very smart.Musk answered a lot of other questions on whether or not he sees Bitcoin and cryptocurrencies are a replacement or cash. He noted that they do have a role as a replacement for a primary but he doesn’t seem them being the primary database. It is also worth mentioning that he tweeted a seemingly mysterious post a few weeks ago when he said in front of his 30 million followers that ‘’Bitcoin is *not* my safe word.’’Another popular person in the crypto community Ray Dalio talked about the largest cryptocurrency at Davos and explained that Bitcoin fails the purpose of money because of its high volatility. Musk continued explaining his views on cryptocurrencies as a whole and their involvement in illegal activities. He added:
 “This sort of gets the crypto people angry, but there are transactions that are not within the balance of the law. And there are, obviously, many laws in different countries. And, normally, cash is used for these transactions. But, in order for illegal transactions to occur, cash must also be used for legal transactions. You need an illegal to the legal bridge. That’s where crypto comes in.”
Further, Tesla's Elon Musk said that he is not judging cryptocurrencies since governments usually place too many transactions as illegal:
 “This is sometimes taken as being like I’m being judgmental about crypto, but it’s actually – there’re a lot of things that are illegal that shouldn’t be illegal. I think sometimes governments have too many laws. They shouldn’t have so many things that are illegal.”
`
Continue Reading

Newsletter

For Updates & Exclusive Offers
enter your email below





NEWS CATEGORIES

ADVERTISEMENT

cryptocurrency review
FO5F93F47156 - VC Tim Draper Predicts Bitcoin Will Be 5% Market Share Of The Earth

ADVERTISEMENT

Medium Rectangle 300 200 2 Animated - VC Tim Draper Predicts Bitcoin Will Be 5% Market Share Of The Earth

ADVERTISEMENT

oasistrade banner

Join us on Facebook

ADVERTISEMENT

300 250 - VC Tim Draper Predicts Bitcoin Will Be 5% Market Share Of The Earth
FO710FC3F2305 1 - VC Tim Draper Predicts Bitcoin Will Be 5% Market Share Of The Earth

ADVERTISEMENT

300 600 3 - VC Tim Draper Predicts Bitcoin Will Be 5% Market Share Of The Earth

Trending Worldwide

Show Buttons
Hide Buttons