Lis 09

Bitcoin to $250K by 2023 Prediction is ‘Absolutely Solid,’ Says Tim Draper

Serial cryptocurrency investor and billionaire Tim Draper has said his Bitcoin price prediction of $250,000 by 2022 is “absolutely solid.”


Draper: Destination Clear, Path Uncertain

Speaking during the giant Web Summit tech conference in Lisbon which ended November 8, Draper, who is well known for his optimistic outlook on Bitcoin, in particular, doubled down on his price forecast few others have dared rival.

“I have a pretty good sense of what’s going on four, five, six ten years from now because that’s my business – to meet with young entrepreneurs who are putting a future into my mind,” he told a panel which also featured Blockchain CEO Peter Smith and Managing Capital co-founder Garry Tan.

…My prediction for $250,000 by 2022 – maybe 2023 but in that range – is absolutely solid, but I’m not so sure how we’re going to get there[.]

Cryptocurrency became an increasingly focal topic at this year’s Summit, which with almost 70,000 attendees constitutes the largest such conference in Europe.

Smith’s Blockchain, announcing a partnership with payment network Stellar at the event, has begun giving away $125 million in the latter’s Lumen tokens in a bid to increase awareness and adoption of cryptoassets.

‘Just Go Do It’

While touching on different aspects of how the industry should grow in future, both Smith and Draper agreed on the need to continue placing financial sovereignty in users’ hands.

“Why we aren’t all… creating Bitcoin, putting together a wallet – just go do it so you get the feel for it because it’s so much better than what we have today,” Draper told the audience.

All three panelists, with varying degrees of reluctance, meanwhile agreed that BTC/USD 00 should trade higher this time next year, Smith additionally confirming he was still accumulating bitcoin.

Anticipation of an end to what Tan among many others referred to as the “crypto winter” continues to run high across the community, with markets yet to provide hints of an imminent end to bear market conditions.

Tan added he was uncertain whether the ‘winter’ would be over by the end of 2019.

What do you think about Tim Draper’s price prediction reiteration? Let us know in the comments below!


Images courtesy of Shutterstock

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Kvě 16

Everyone’s Favorite Crypto Just Might Scale After All

Source: bitcoin

scale

The popular Bitcoin explorer and wallet company Blockchain.info has revealed a new protocol to the cryptocurrency ecosystem called the Thunder Network. The project is in its alpha release and the code is open source. Thunder allows users to make off-chain payments instantaneously with lower fees.

Also read: Japanese Company Raising Funds Abuses Tech Bureau Corp. Credentials

Can The Thunder Network Help Scale Bitcoin? 

Blockchain.info’s Thunder claims it will be able to process transactions at a rate faster than most credit card processors such as Visa and Mastercard. Currently, many developers and community members are afraid the Bitcoin protocol will not scale to the masses. Proponents of raising the block size or those who wish to use off chain solutions do not believe the network could handle 100 transactions per second. However with the Thunder Network the team claims it will be able to process 100,000 transactions per second. Blockchain.info’s blog states:

“Thunder has the potential to facilitate secure, trustless, and instant payments. It has the ability to unleash the power of microtransactions, to allow the bitcoin network to handle heavy loads, and to increase user privacy.”

There have been a few solutions brought to the table with scaling Bitcoin over time. Some of the ideas include a hard fork to raise the block size to 2mb or above. Then on the other hand off chain solutions such as the Lightning Network, Segregated Witness (SegWit) and Duplex Micropayment Channels (DMC) have been introduced in theory with some testing. Blockchain.info thought it would be best to release the code and alpha now saying, “We believe it is critical to get something in the hands of users as soon as possible to gain feedback that will enable us to be ready when the network is. So review it, test it out, open an issue on GitHub.”

With the popular wallet’s impressive user base the testing may get a lot of traction. Blockchain.info has already done some inside testing of Thunder already and you can view the experiment via the company blog. The platform had sent transactions to the two people in a “trustless manner based on the Lightning Network.” Blockchain.info states in their blog until now ideas like the Lightning Network are “purely conceptual, research-based, and only in test nets and labs – until now.” The two people who tested the Thunder Network were CEO of Blockchain.info Peter Smith and the team’s recently hired engineer Mats Jerratsch.

Blockchain.info wants people to know the project is currently experimental and not quite ready. Thunder is only suitable for testing at the moment and should only be used with trusted parties. The company says, “Try this amongst your dev team or amongst your trusted internet friends, but don’t use it for real payments. Remember: this is alpha testing software.”

The world of Bitcoin-land is getting exciting with new opportunities like these projects. It’s good to see developers taking initiative and coming up with things like Lightning, Thunder, Segwit, and DMC. With quality testing and implementation (and less arguing), everyone’s favorite cryptocurrency just might scale after all!

What do you think about the Thunder Network? Let us know in the comments below.


Images via Pixabay and the BC.info blog 

The post Everyone’s Favorite Crypto Just Might Scale After All appeared first on Bitcoinist.net.

Everyone’s Favorite Crypto Just Might Scale After All

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